![]() ![]() It was also named the "millennium bug" because it was associated with the popular (rather than literal) rollover of the millennium, even though most of the problems could have occurred at the end of any century.Ĭomputerworld 's 1993 three-page "Doomsday 2000" article by Peter de Jager was called "the information-age equivalent of the midnight ride of Paul Revere" by The New York Times. The abbreviation combines the letter Y for "year", the number 2 and a capitalized version of k for the SI unit prefix kilo meaning 1000 hence, 2K signifies 2000. Y2K is a numeronym and was the common abbreviation for the year 2000 software problem. The same was true in sectors such as schools and small businesses where compliance with Y2K policies was patchy at best. president Bill Clinton, who organized efforts to minimize the damage in the United States, labeled Y2K as "the first challenge of the 21st century successfully met", and retrospectives on the event typically commend the programmers who worked to avert the anticipated disaster.Ĭritics pointed out that even in countries where very little had been done to fix software, problems were minimal. Companies and organizations in some countries, but not all, had checked, fixed, and upgraded their computer systems to address the problem. Supporters of the Y2K remediation effort argued that this was primarily due to the pre-emptive action of many computer programmers and information technology experts. Ĭontrary to published expectations, few major errors occurred in 2000. A lack of clarity regarding the potential dangers of the bug led some to stock up on food, water, and firearms, purchase backup generators, and withdraw large sums of money in anticipation of a computer-induced apocalypse. In the years leading up to the turn of the century (millennium), the public gradually became aware of the "Y2K scare", and individual companies predicted the global damage caused by the bug would require anything between $400 million and $600 billion to rectify. Computer systems' inability to distinguish dates correctly had the potential to bring down worldwide infrastructures for industries ranging from banking to air travel. Many programs represented four-digit years with only the final two digits, making the year 2000 indistinguishable from 1900. The year 2000 problem, also known as the Y2K problem, Y2K scare, millennium bug, Y2K bug, Y2K glitch, Y2K error, or simply Y2K refers to potential computer errors related to the formatting and storage of calendar data for dates in and after the year 2000. A new trend is seen in last decade.An electronic sign at École centrale de Nantes incorrectly displaying the year 1900 on 3 January 2000 A lengthy and cumber some process requiring a lot of application of mind and revenue principles is ahead for the tax department of India D. How would the profit would be shared is not decided yet? C. The tax treatment of the Permanent Establishment in such a case is under consideration B. The nonresident entity or foreign company will be liable to tax in India only if the IT -enabled BPO unit in India constitutes its Permanent Establishment. Such entities are either branches or associated enterprises of the foreign enterprise or an independent India enterprise. ![]() ……………During the last decade or so, India has seen a steady growth of outsourcing of business processes by non residents or foreign companies to IT -enabled entities in India. ![]() In such a case, the resident Indian entity could be treated as Permanent Establishment of the nonresident entity. However, it is possible that the non -resident entity may have a business connection with the resident Indian entity. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |