Sunday, December 11, 2011

Fine and Interest as per Nepal Income Tax Act 2058

chapter 22 Fine and Interest





records not kept and non submission of return


non submission of estimated returns (sec 95)



non submission of final return sec 96-self assessment


natural person

100 per month


other person

0.1 % of assesable income or Rs 100 per month whichever higher


if record not retained for 5 years

0.1 % of assesable income or Rs 1000 whichever higher


if monthly TDS return not submitted in time

1.5% of amount due for each part of month


if estimated tax paid as per sec 94 is below defined limit(80% of actual)

15% (general interest rate for each month upto date of return) on the difference amount


if tax not paid in time

15%(general interest rate for each month upto date of non payment)


false return filing


if non voluntary and by mistake

50% of the differential tax


if voluntary done with malafide intension

100% of differential tax


supporting for tax evasion

100% amount of evaded amount


For More Details




Paxton Accounting Consultancy


Thamel, Nepal


Tel :9771 4258070, 4249611


Penalty Provisions of Income Tax Act 2058

chapter 23 penalty of Nepalese Income tax Act 2058






No filing of tax returns

5,000 to 30,000

1 to 3 months

or both


False retrun filing

40,000 to 160,000

6 months to 2 years

or both


unsupportive role in tax department

5,000 to 20,000

1 to 3 months

or both


confidencial information leak by tax officer


one year

or both


tax collection by unauthorised persons

80000 to 240000

1 to 3 years

or both


supporting for tax evasion by other

50% of sentence to guilty of tax evasion



supporting for tax evasion by tax officer

100% of sentence to guilty of tax evasion


no compliance with any provision of Act

5000 to 30,000


For More Details




Paxton Accounting Consultancy


Thamel, Nepal


Tel :9771 4258070, 4249611


Strategic management CAPIII December 2011 question paper.


Maximum Marks - 100

Total No. of Questions - 7

Total No. of Printed Pages -2

Read the following and answer the questions accordingly:

ABC Battery Company was established in Kathmandu about 20 years ago. Its range of main products is Sun Battcry Moon Battery, Light Battery and Long batterv brands. Initially, the total investment made was Rs. 30 million out of which 79 percent was foreign direct investment of Indian Batten Company (IBC) and 21 percent was of local shareholders of Nepal. The average annual turnover was Rs. 80 million in 2007. Rs. 110 minion in 2009, and is expected to reach 130 million in 2011. It was making 30% profit on investment :n 20J0 and the trend shows gradual increment of profit for last 10 years. It was payng corporate and other taxes to the Government of Nepal. Currently 300 operation level staff are working^ and it is recognized as a reputed manufacturing firm of Nepal. The technology and management are handled by foreign _ investors as major shareholders. However. participation while making major decisions is common practice in the firm.

In order face competition, especially with Chinese Products available in cheap rate, the top management of the company, after portfolio analysis., decided to extend its .product and market so that per unit cost can be lowered and large share of market can be covered. Consolidation- product development, and market penetration strategies are being considered.

The company hired 50 new staff for manufacturing new brand of Batteries: Young Battery. Brave Battery, and Sun light Battery. The company has altogether seven different brands of products and needs aggressive marketing. It published vacancies in national newspapers, the Kathmandu Post and the Himalayan Times, for young and dynamic CEQ for effective strategy formulation and implementation. The company expects that the new CEO would craft proper strategy to gain competitive advantage "to become Leader in the industry.

In light of this scenario, answer the following questions:

  1. What are the major strengths and weaknesses of this firm'.' Discuss. ^'
    1. What strategies should the newly appointed CEO craft to achieve strategic advantage? Suggest the best strategy- tor this firm with sufficient logic,

    2 i What is strategic management? Discuss various levels strategy. 3+5=8)

    b) Compare an organization s mission with its objectives

  1. What steps need to be followed to identifv core competencies of a business firm?
  2. What are the various steps for internal analysis of a firm? 8 7

  3. Discuss various elements of the general environment.
    1. BCG portfolio matrix is a widely used tool to assess the suitability of strategy. Explain

    a) Define strategy evaluation. Discuss difficulties generally encountered in the process of strategy evaluation. (3+4=7)

    b) Explain portfolio analysis and illustrate General Electric Business Screen"

  4. What are the alternative directions of strategic options?
  5. Explain different techniques of strategic decision making

Thursday, November 10, 2011

Bunjy, Swing and Cannoying in Nepal rates

Activity day trips




bungy or swing day trip




bungy & swing day trip




canyoning day trip




rafting day trip




high ropes day trip




bungy & canyoning trip




go & see day trip




Overnight packages


relax at the resort (1 night)




relax & bungy or swing (1 night)




relax & rafting (1 night / 1 day)




relax & rafting (1 night / 2 days)




relax & rafting & bungy (1 night)




relax & canyoning (1 night /1 day)




relax & canyoning (2 nights / 2 days)




relax & canyoning & bungy (1 night)




relax & high ropes (1 night / 1 day)




relax & mountain biking (1 night)




relax & hiking (1 night)




relax & massage (1 night)






bungy or swing only




extra bungy or swing




canyoning only




mountain biking only




high ropes only




family fun




hiking guide fee




massage 1 hour









Rates mentioned are per person. Activity day


trips include transport and lunch. Overnight


packages include transport, accommodation


and all meals. Accommodation is in 2 person


tents and 4 person tents for groups and



Contact Paxton Travels:

tel :4258070, 4249611


Wednesday, October 5, 2011

Remembering Steve Jobs- A Great Speech

You've got to find what you love,' Jobs says

This is the text of the Commencement address by Steve Jobs, CEO of Apple Computer and of Pixar Animation Studios, delivered on June 12, 2005.

I am honored to be with you today at your commencement from one of the finest universities in the world. I never graduated from college. Truth be told, this is the closest I've ever gotten to a college graduation. Today I want to tell you three stories from my life. That's it. No big deal. Just three stories.


I dropped out of Reed College after the first 6 months, but then stayed around as a drop-in for another 18 months or so before I really quit. So why did I drop out?

It started before I was born. My biological mother was a young, unwed college graduate student, and she decided to put me up for adoption. She felt very strongly that I should be adopted by college graduates, so everything was all set for me to be adopted at birth by a lawyer and his wife. Except that when I popped out they decided at the last minute that they really wanted a girl. So my parents, who were on a waiting list, got a call in the middle of the night asking: "We have an unexpected baby boy; do you want him?" They said: "Of course." My biological mother later found out that my mother had never graduated from college and that my father had never graduated from high school. She refused to sign the final adoption papers. She only relented a few months later when my parents promised that I would someday go to college.

And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents' savings were being spent on my college tuition. After six months, I couldn't see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life. So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn't interest me, and begin dropping in on the ones that looked interesting.

It wasn't all romantic. I didn't have a dorm room, so I slept on the floor in friends' rooms, I returned coke bottles for the 5¢ deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it. And much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on. Let me give you one example:

Reed College at that time offered perhaps the best calligraphy instruction in the country. Throughout the campus every poster, every label on every drawer, was beautifully hand calligraphed. Because I had dropped out and didn't have to take the normal classes, I decided to take a calligraphy class to learn how to do this. I learned about serif and san serif typefaces, about varying the amount of space between different letter combinations, about what makes great typography great. It was beautiful, historical, artistically subtle in a way that science can't capture, and I found it fascinating.

None of this had even a hope of any practical application in my life. But ten years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. It was the first computer with beautiful typography. If I had never dropped in on that single course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts. And since Windows just copied the Mac, its likely that no personal computer would have them. If I had never dropped out, I would have never dropped in on this calligraphy class, and personal computers might not have the wonderful typography that they do. Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards ten years later.

Again, you can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.


I was lucky — I found what I loved to do early in life. Woz and I started Apple in my parents garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4000 employees. We had just released our finest creation — the Macintosh — a year earlier, and I had just turned 30. And then I got fired. How can you get fired from a company you started? Well, as Apple grew we hired someone who I thought was very talented to run the company with me, and for the first year or so things went well. But then our visions of the future began to diverge and eventually we had a falling out. When we did, our Board of Directors sided with him. So at 30 I was out. And very publicly out. What had been the focus of my entire adult life was gone, and it was devastating.

I really didn't know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down – that I had dropped the baton as it was being passed to me. I met with David Packard and Bob Noyce and tried to apologize for screwing up so badly. I was a very public failure, and I even thought about running away from the valley. But something slowly began to dawn on me — I still loved what I did. The turn of events at Apple had not changed that one bit. I had been rejected, but I was still in love. And so I decided to start over.

I didn't see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.

During the next five years, I started a company named NeXT, another company named Pixar, and fell in love with an amazing woman who would become my wife. Pixar went on to create the worlds first computer animated feature film, Toy Story, and is now the most successful animation studio in the world. In a remarkable turn of events, Apple bought NeXT, I returned to Apple, and the technology we developed at NeXT is at the heart of Apple's current renaissance. And Laurene and I have a wonderful family together.

I'm pretty sure none of this would have happened if I hadn't been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don't lose faith. I'm convinced that the only thing that kept me going was that I loved what I did. You've got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don't settle.


When I was 17, I read a quote that went something like: "If you live each day as if it was your last, someday you'll most certainly be right." It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: "If today were the last day of my life, would I want to do what I am about to do today?" And whenever the answer has been "No" for too many days in a row, I know I need to change something.

Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure – these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.

About a year ago I was diagnosed with cancer. I had a scan at 7:30 in the morning, and it clearly showed a tumor on my pancreas. I didn't even know what a pancreas was. The doctors told me this was almost certainly a type of cancer that is incurable, and that I should expect to live no longer than three to six months. My doctor advised me to go home and get my affairs in order, which is doctor's code for prepare to die. It means to try to tell your kids everything you thought you'd have the next 10 years to tell them in just a few months. It means to make sure everything is buttoned up so that it will be as easy as possible for your family. It means to say your goodbyes.

I lived with that diagnosis all day. Later that evening I had a biopsy, where they stuck an endoscope down my throat, through my stomach and into my intestines, put a needle into my pancreas and got a few cells from the tumor. I was sedated, but my wife, who was there, told me that when they viewed the cells under a microscope the doctors started crying because it turned out to be a very rare form of pancreatic cancer that is curable with surgery. I had the surgery and I'm fine now.

This was the closest I've been to facing death, and I hope its the closest I get for a few more decades. Having lived through it, I can now say this to you with a bit more certainty than when death was a useful but purely intellectual concept:

No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life's change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.

Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma — which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.

When I was young, there was an amazing publication called The Whole Earth Catalog, which was one of the bibles of my generation. It was created by a fellow named Stewart Brand not far from here in Menlo Park, and he brought it to life with his poetic touch. This was in the late 1960's, before personal computers and desktop publishing, so it was all made with typewriters, scissors, and polaroid cameras. It was sort of like Google in paperback form, 35 years before Google came along: it was idealistic, and overflowing with neat tools and great notions.

Stewart and his team put out several issues of The Whole Earth Catalog, and then when it had run its course, they put out a final issue. It was the mid-1970s, and I was your age. On the back cover of their final issue was a photograph of an early morning country road, the kind you might find yourself hitchhiking on if you were so adventurous. Beneath it were the words: "Stay Hungry. Stay Foolish." It was their farewell message as they signed off. Stay Hungry. Stay Foolish. And I have always wished that for myself. And now, as you graduate to begin anew, I wish that for you.

Stay Hungry. Stay Foolish.

Thank you all very much.

Sunday, September 25, 2011

Black money invested in share


Money earned by illicit red sandalwood trade and hooliganism have been diverted into share-market to make the money white. Different groups are engaged in the laundering process, said Rajendra Khetan, a lawmaker and businessmen. Speaking at a parliamentarian Public Accounts Committee under Legislature Parliament, he said that the vicious circle of money laundering has emerged to cheat revenue and wash black money to white. "Money earned from illegal sources is deposited in banks which later invested in share and ultimately that money used to strengthen illegal business," he said.


Banks should follow certain customer identification procedure for opening of accounts and monitoring transactions to stop the money laundering process, he said. The Nepal Rastra Bank should introduce the Know Your Customer (KYC) guidelines at the earliest, he added. "The KYC guideline will help end money laundering by illegal traders." In the programme, officials from Nepal Rastra Bank pledged to abide by the directives which will be received from the parliamentarian committee. "Controlling illegal money from deposit is challenging," deputy governor at the central bank Gopal Kafle said, adding that the central bank will initiate the process to control such trends.


"The central bank is putting its effort to control money laundering," he said. Currently, Financial Information Unit under the central bank is carrying out activities to curb money laundering. Financial Information Unit is an agency responsible for receiving, processing, analysing and disseminating financial information and intelligence on suspected money laundering and terrorist financing activities, deputy governor Kafle said. The central bank is committed to end money laundering by strengthening its monitoring capacity, he pledged.

Monday, September 5, 2011

NTC planning to launch Apple iphone 4 (8GB) @ Rs 15,000 Only!!

Hi friends, you guys must have heard that Nepal Telecom is bringing iPhone 4 (8GB) to Nepal on contract. It seems to me interesting since I am an iphone developer and most of my friends are also excited about having iphones with cheap affordable price.

NTC and Apple Agreement

Once, NTC has tried to bring Blackberry Mobile to Nepal with it BES server integrated with ntc Carrier. But it failed due to lack of our carrier security and probably poor quality of signal strength of Nepal Telecom at that time.

After the failed attempt to bring Blackberry Mobile, largest telecommunication company of Nepal, NTC (Nepal Telecom Authority) is planning to introduce iPhone 4 (8GB) for Rs15000 (200$). According to the source, Apple and NTC have already signed the agreement for this process and it may be available within this year if everything goes fine.


Since we know that 16GB and 32GB iPhone are at high price, iPhone 4 with 8GB memory will be introduced by NTC for its customers. Some weeks ago Apple have announced that they will be introducing iPhone with less memory for promoting developing countries like Nepal to increase its market share. 


According to NTC Plan, to get an iPhone , subscriber have to sign a 2year contract with NTC and pay Rs15000 to get iPhone. NTC will be selling this iPhone after locking the "NTC" carrier within the device. This scheme is most popular on different countries like in USA, where AT&T, Verizon sells carrier locked iphones on 2 year contract basis to  their costumers.


Currently the price of iPhone 4 16GB is Rs55000+ in Nepali market, Rs 15000 for iPhone its not only cool but awesome.  I am looking forward for development of Apple product and iOS in Nepal.


Since Apple iphone is pretty cool gadgets for youngsters and business people it will definitely take great market share. I will be the first one to have it as soon as it arrives.


Challenges for NTC


The iphone is very sophisticated smart phone which uses high speed internet and great carrier services. In short, to maintain the quality standard with smart phone, the carrier service and other services like 3G, GPRS, etc also should be great and meet the standard. Following might be challenges for NTC:

  1. Enhance the Carrier strength even in the time of LoadShedding. (I hate "Error In Connection" Message by the way)
  2. Provide high speed internet service, 3G and GPRS all over the country (not only inside Ring Road area). ( At Least must be competitive with NCell customers in terms of both data plan and service plan).

These are some basic feedback for NTC to enhance its service. If you guys have any feel free to add one in comment. I will add them in list.


Thanks for reading and happy sharing. Hope within a year,  all interested iPhone fans would be using iPhone for entertainment and calls.

Wednesday, August 24, 2011

Registration opens for “know the future” program



10 September · 11:00 - 15:00



Inderni Complex,

New Baneshwor, Kathmandu, Nepal


Created by:

Nepal Chartered Accountant Students' Association (NCASA)


More info

This will be the program to confront all the CA students to what the Future has in store. The bests in the business will be sharing their ideas and views.. The basic idea is to call the renowned CAs from differnt sector (like entrepreneurship, policy making, audit practice, etc) and share their ideas which will give students their future prospects and possibilities. NCASA's Executive Committee's handover/takeover will also be done in the same event.


Note : registration is compulsory, entrance not allowed without registration..


Registration link