Current Affairs Current Affairs - 31 July 2015 - Vikalp Education

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Current Affairs - 31 July 2015

Around 11,500 Indians in Jails of Gulf Countries
  • Around 11,500 Indians in Jails of Gulf CountriesNEW DELHI:  Around 11,500 Indians are languishing in the prisons of United Arab Emirates and Saudi Arabia over the past three years for various offences, including violation of national frontiers of these countries, the government said on Thursday.

    According to a written reply to a question in Rajya Sabha, Union Minister of State for Overseas Indian Affairs VK Singh said that 4,615 Indians are lodged in the prisons of Saudi Arabia while the UAE has 6,653 Indians in its jails.
    Oman and Qatar have 454 and 187 Indians respectively. Of these, 99 and 88 people were released from Oman and Qatar respectively after the efforts taken by Indians missions there.

    The United Kingdom has nearly 1,467 Indians in its jails while Singapore and Malaysia have over 450 and 294 countrymen respectively lodged its prisons. The UK has released 90 Indian prisoners.

    The data covers the period of 2012, 2013, 2014 and 2015 (until July).

    In India's neighbouring countries, about 996 countrymen are languishing in Nepalese jails, 275 in Bhutan and 126 in Myanmar for various offences over the past three years.

    China and Maldives have 25 and 39 Indians lodged in its jail respectively.

    As per the information provided by the Ministry of External Affairs with regard to Pakistan, the number of Indians lodged in the neighbouring country's jails as on June 2015 was 407.

    "Further 185 fishermen and six others prisoners were released in 2014, and 285 fishermen and three other prisoners were released in 2015. As per unconfirmed estimates there are 74 missing prisoners of war still in Pakistani jails whose presence is not confirmed," according to the reply. 

Reserve Bank of India to Issue Rs. 10 Coins to Mark International Yoga Day
  • Reserve Bank of India to Issue Rs 10 Coins to Mark International Yoga DayNEW DELHI:  The Reserve Bank will soon issue Rs. 10 denomination coins to commemorate the International Yoga Day.

    "The Reserve Bank of India will shortly put into circulation Rs. 10 coins to commemorate the International Day of Yoga which the Government of India has minted," RBI said in a release on Thursday.

    The obverse side of the coins will bear the Lion Capital of Ashoka Pillar in the centre with legend Satyamev Jayate inscribed below, flanked on the left periphery with the word Bharat in Devnagri script.

    While, on the right periphery it will be flanked with the word 'INDIA' in English.

    "It also bears the Rupee symbol and denominational value '10' in the international numerals below the Lion Capitol," RBI said.

    On the reverse, the coin will bear the logo of 'International Day of Yoga', with inscription 'Samanjasya avam Shanti ke Liye Yog' in Devnagri script and 'Yoga for Harmony and Peace' around the logo and design.

    The date '21 June' will at the bottom of the logo. The inscription 'Antarrashtriya Yog Divas' in Devnagri script on left periphery and 'International Day of Yoga' in English on the right periphery would be written on this side of the coin, RBI said.

    "These coins are legal tender as provided in The Coinage Act 2011. The existing coins in this denomination will also continue to be legal tender," RBI said.

For Judges Who Ruled Memon Should Hang, Security is Added
  • For Judges Who Ruled Memon Should Hang, Security is AddedNEW DELHI:  As Yakub Memon was hanged today in a Nagpur jail, security has been added for the three judges who rejected his last-minute appeal in an unprecedented hearing that took place in the Supreme Court in the middle of the night.

    Justices Dipak Misra, Amitav Roy and Prafulla Pant spent two hours starting at about 3 am weighing the new petition before they ruled they would not stop his execution at 7 am.
    The judges said that Memon had ample time and opportunity to challenge his death sentence before  yesterday, and that he had exhausted all legal options available to a death row prisoner.

    Memon was convicted in 2007 as the "driving spirit" of the deadly attack in Mumbai in 1993 in which 257 people were killed as bombs exploded back to back in landmarks across the city including the Stock Exchange.  In 2013, the Supreme Court upheld his death sentence. A mercy petition filed by his brother on his behalf was turned down by President Pranab Mukherjee.

    The date of hanging was set for  July 30. In the last three days before he was executed, Memon's lawyers, helped by activists, explored a  series of routes to stop his hanging. They said the Supreme Court had wrongly confirmed his death sentence before he had exhausted all his legal options; yesterday, Memon filed a fresh clemency appeal in his own name with the President; when it was rejected, he asked for a 14-day delay. But the judges said stopping his execution would have been "a travesty of justice."

    His body was brought by his family to Mumbai where he was buried today.

    Memon was convicted for financing the terror attacks that were masterminded by his older brother Tiger and Dawood Ibrahim, both of whom remain missing.  His lawyers and activists said that he had cooperated wholly with investigators and did not deserve to die.  Families of those who were injured or killed in the terror attack strongly disagreed.

Students Clash With Police in Bihar Over College Admissions
  • Students Clash With Police in Bihar Over College AdmissionsCHAPRA:  Hundreds of students denied seats in colleges in Bihar's Chapra town clashed with the police today and vandalised a government college.

    Police said the students who had cleared their class 12 exams were frustrated at not getting seats and raised slogans against the college.

    The protests soon spun out of control and some of the students set a bus on fire, police said. When the police arrived, the students hurled stones at them.

    A police officer said they had to resort to lathicharge to bring the situation under control. The violence continued for nearly half an hour.

    The district administration pled helplessness, saying that most graduation colleges have already exhausted their seat quota for the year and cannot admit more students.

    Police say some colleges will be given extra security from tomorrow.

West Bengal Government Launches Helpline to Monitor Floods
  • West Bengal Government Launches Helpline to Monitor FloodsKOLKATA:  The West Bengal government has launched a helpline number for monitoring the flood situation in the state.

    A statement by the Trinamool Congress said, "West Bengal government launches emergency helpline number 1070 for flood situation."

    A deep depression over the Northeast Bay of Bengal on Thursday intensified into a cyclonic storm 'Komen', with the weather department forecasting heavy to very heavy rains.


Heavy Rains Forecast as Bengal Prepares for Cyclone Komen's Landfall
  • Heavy Rains Forecast as Bengal Prepares for Cyclone Komen's LandfallKOLKATA, WEST BENGAL:  Heavy rains have been forecast in southern West Bengal by the meteorological department due to the cyclonic storm, Komen, which is likely to make landfall in Bangladesh. Chief Minister Mamata Bannerjee cut short her visit to London and landed in Kolkata at 5pm today to personally oversee relief operations.

    The government has sounded a high alert in all southern districts, especially North 24 Parganas, South 24 Parganas, Nadia, Burdwan, Hooghly, Birbhum and Murshidabad. Leave of all government officials has been cancelled to tackle the situation.  
    The Director of the Indian Meteorological Department in Kolkata, GC Debnath, said, "Depression has intensified into cyclonic storm, will make landfall in Bangladesh. After landfall, it will hit border districts and heavy rainfall is expected across south Bengal."

    According to officials, the impact of the storm will be felt tonight and tomorrow. The low lying areas in south-eastern coastal parts are likely to be most affected in Bangladesh. While wind speed may decrease by the time the depression reaches Bengal, damage is likely to happen due to heavy rain, 30 to 100 per cent more rainfall than normal is expected.

    On her arrival, Ms Bannerjee tried to reassure the people. She said, "There is no need to be scared of the cyclone. The government is prepared. People should be alert and careful."

    The chief minister had set up a task force to tackle the situation even before she left for London last Sunday. Home secretary, Basudeb Bannerjee, who heads the task force said, "26,000 people are already in relief camps in 7 districts. 227 relief camps have been setup and 47 kitchens. Heavy rain is a concern because the barrages are full and a high tide is expected tomorrow."  

    In villages across the Sunderbans, people are already moving to relief camps because of their experience of cyclone, Aila, in May 2009 which killed atleast 158 people and many others were reported missing. The cyclone had affected both West Bengal and Bangladesh.

    The government has also sent over one lakh extra tarpaulin sheets to the affected districts in the last few days.

Afghan Taliban Picks up Successor After Mullah Omar's Death: Sources
  • Afghan Taliban Picks up Successor After Mullah Omar's Death: SourcesPESHAWAR:  The Afghan Taliban have appointed Akhtar Mohammad Mansour as leader of the insurgency, two Afghan commanders present at a meeting of the militant movement's most senior figures said today, following reports that Mullah Omar is dead.

    "The shura held outside Quetta unanimously elected Mullah Mansour as the new emir of the Taliban," said one commander who attended the Wednesday night meeting. "The shura will release a statement shortly."

    The Afghan government announced yesterday that Omar died more than two years ago.

Malaysian Prime Minister Says Indian Ocean Plane Debris Being Sent to France
  • Malaysian Prime Minister Says Indian Ocean Plane Debris Being Sent to FranceKUALA LAMPUR:  Malaysia's Prime Minister Najib Razak said today that plane debris washed up on Reunion island in the Indian Ocean was "very likely" from a Boeing 777, and would be shipped to French authorities in Toulouse to verify if it came for Flight MH370.

    "The location is consistent with the drift analysis provided to the Malaysian investigation team, which showed a route from the southern Indian Ocean to Africa," Najib said in a statement.

    Malaysia Airlines was operating a Boeing 777 on the flight, which vanished without a trace in March last year en route from Kuala Lumpur to Beijing in one of the most baffling mysteries in aviation history. The plane had 239 passengers and crew aboard.

    Najib said the object found on Reunion, a French overseas department in the southern Indian Ocean east of Madagascar, would be sent to the nearest office of France's crash investigation agency, the BEA, in Toulouse.

    Aviation experts who have seen widely circulated pictures of the debris said it may be a moving wing surface known as a flaperon, situated close to the fuselage.

    Najib also said that, despite numerous "false alarms" in the past, authorities have not given up on the search. "I promise the families of those lost that whatever happens, we will not give up," he said.

    BEA had no immediate comment on the Malaysian prime minister's statement.

::: TYPES OF TAXES IN INDIA :::
  • TYPES OF TAXES IN INDIA
     I. DIRECT TAXES :-
    These types of taxes are directly imposed & paid to Government of India. There has been a steady rise in the net Direct Tax collections in India over the years, which is healthy signal. Direct taxes, which are imposed by the Government of India, are:
     (1) Income Tax :-
    Income tax, this tax is mostly known to everyone. Every individual whose total income exceeds taxable limit has to pay income tax based on prevailing rates applicable time to time.
     (2) Capital Gains Tax :-
    Capital Gain tax as name suggests it is tax on gain in capital. If you sale property, shares, bonds & precious material etc. and earn profit on it within predefined time frame you are supposed to pay capital gain tax. The capital gain is the difference between the money received from selling the asset and the price paid for it.
     (3) Securities Transaction Tax :-
    A lot of people do not declare their profit and avoid paying capital gain tax, as government can only tax those profits, which have been declared by people. To fight with this situation Government has introduced STT (Securities Transaction Tax ) which is applicable on every transaction done at stock exchange. That means if you buy or sell equity shares, derivative instruments, equity oriented Mutual Funds this tax is applicable.
     (4) Perquisite Tax :-
    Earlier to Perquisite Tax we had tax called FBT (Fringe Benefit Tax) which was abolished in 2009, this tax is on benefit given by employer to employee. E.g If your company provides you non-monetary benefits like car with driver, club membership, ESOP etc. All this benefit is taxable under perquisite Tax.
     (5) Corporate Tax :-
    Corporate Taxes are annual taxes payable on the income of a corporate operating in India. For the purpose of taxation companies in India are broadly classified into domestic companies and foreign companies.
     II. INDIRECT TAXES :-
     (6) Sales Tax :-
    Sales tax charged on the sales of movable goods. Sale tax on Inter State sale is charged by Union Government, while sales tax on intra-State sale (sale within State) (now termed as VAT) is charged by State Government.
     (7) Service Tax :-
    Most of the paid services you take you have to pay service tax on those services. This tax is called service tax. Over the past few years, service tax been expanded to cover new services.
     (8) Value Added Tax :-
    The Sales Tax is the most important source of revenue of the state governments; every state has their respective Sales Tax Act. The tax rates are also different for respective states.
     (9) Custom duty & Octroi (On Goods) :-
    Custom Duty is a type of indirect tax charged on goods imported into India. One has to pay this duty , on goods that are imported from a foreign country into India. This duty is often payable at the port of entry (like the airport). This duty rate varies based on nature of items.
     (10) Excise Duty :-
    An excise or excise duty is a type of tax charged on goods produced within the country. This is opposite to custom duty which is charged on bringing goods from outside of country. Another name of this tax is CENVAT (Central Value Added Tax).
     (11) Anti Dumping Duty :-
    Dumping is said to occur when the goods are exported by a country to another country at a price lower than its normal value. This is an unfair trade practice which can have a distortive effect on international trade. In order to rectify this situation Central Govt. imposes an anti dumping duty not exceeding the margin of dumping in relation to such goods.
     III. OTHER TAXES :-
     (12) Professional Tax :-
    If you are earning professional you need to pay professional tax. Professional tax is imposed by respective Municipal Corporations. Most of the States in India charge this tax.
     (13) Dividend distribution Tax :-
    Dividend distribution tax is the tax imposed by the Indian Government on companies according to the dividend paid to a company’s investors. Dividend amount to investor is tax free. At present dividend distribution tax is 15%.
     (14) Municipal Tax :-
    Municipal Corporation in every city imposed tax in terms of property tax. Owner of every property has to pay this tax. This tax rate varies in every city.
     (15) Entertainment Tax :-
    Tax is also applicable on Entertainment; this tax is imposed by state government on every financial transaction that is related to entertainment such as movie tickets, major commercial shows exhibition, broadcasting service, DTH service and cable service.
     (16) Stamp Duty, Registration Fees, Transfer Tax :- If you decide to purchase property than in addition to cost paid to seller. You must consider additional cost to transfer that property on your name.
     (17) Education Cess , Surcharge :-
    Education cess is deducted and used for Education of poor people in INDIA. All taxes in India are subject to an education cess, which is 3% of the total tax payable. The education cess is mainly applicable on Income tax, excise duty and service tax.
     (18) Gift Tax :-
    If you receive gift from someone it is clubbed with your income and you need to pay tax on it. This tax is called as gift tax.
     (19) Wealth Tax :-
    Wealth tax is a direct tax, which is charged on the net wealth of the assessee. Wealth tax is chargeable in respect of Net wealth corresponding to Valuation date.Net wealth means all assets less loans taken to acquire those assets. Wealth tax is 1% on net wealth exceeding 30 Lakhs (Rs 3,000,000). So if you have more money, assets you are liable to pay tax.
     (20) Toll Tax :-
    At some of places you need to pay tax in order to use infrastructure (road, bridge etc.) build from your money given to government as Tax. This tax is called as toll tax. This tax amount is very small amount but, to be paid for maintenance work and good up keeping.


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