DAILY CURRENT AFFAIRS: 19 JAN 2016
(DAILY NEWS INDIA)
SHARED BY: WWW.DAILYGK.IN
1. DRAFT REPORT OF R V EASWAR COMMITTEE TO SIMPLIFY INCOME-TAX ACT, 1961 RELEASED
i. Union Ministry of Finance released the draft report of Justice R V Easwar Committee to simplify the provisions of Income-tax Act, 1961.
ii. Highlights of the draft report
a. Amendment to Section 255(3) to increase the monetary limit for Single Member Bench cases before the Tribunal to rupees 1 crore from the present rupees 15 lakhs
b. Amendment to Section 254(2) to reduce the time-limit for rectification of orders of the Tribunal from four years to 120 days
c. Deletion of section 143(1D) – Avoiding undesirable delay in issue of refunds
d. Recommendations to promote ease of doing business and simplify procedures-
e. Tax deduction at source rates for individuals and Hindu undivided families to be reduced to 5 percent as against the present 10 percent
f. Amendment to section 234C to provide relief where a new business is started during the financial year
2. WORLD BANK TO FUND 20 MILLION US DOLLAR FOR RECONSTRUCTING INDIRA GANDHI ZOOLOGICAL PARK
i. The World Bank decided to give an assistance of 20 million US dollar to reconstruct the Indira Gandhi Zoological Park .
ii. The park was devastated during cyclone Hudhud in October 2014 in Visakhapatnam.
iii. It is for the first time that World Bank is directly involved in a zoo.
3. BCCI BANNED AJIT CHANDILA & HIKEN SHAH FOR INVOLVEMENT IN 2013 IPL SPOT-FIXING SCANDAL
i. The Board of Control for Cricket in Indiaannounced the orders in the cases relating to the involvement of Ajit Chandila and Hiken Shah in the 2013 IPL spot-fixing scandal.
ii. Both of them are banned by BCCI from cricket, Hiken Shah was banned for 5 years and Ajit Chandila banned for life time from Cricket.
iii. Both of them are declared guilty of misconduct and corruption within various articles of the BCCI Anti Corruption Code.
4. SOMNATH TEMPLE TO INVEST IN GOLD MONETISATION SCHEME
i. The Somnath Temple is going to become Gujarat’s first temple to deposit its idle gold in the Gold Monetisation Scheme .
ii. The Temple has around 35 kg of gold of the temple.
iii. The Somnath temple located in Prabhas Patan near Veraval in Saurashtra on the western coast of Gujarat, India.
5. UNION GOVERNMENT HELD FIRST NATIONAL STAKEHOLDER CONSULTATION ON BIOFIN PROJECT
i. The Union Ministry of Environment, Forest and Climate Change held first national stakeholder consultation meeting on the Biodiversity Finance Initiative.
ii. The meeting was organized to Explain and understand the BIOFIN project for strengthening the biodiversity conservation efforts in the country.
iii. Its purpose is to mobilise resources for biodiversity and sustainable development across the world.
iv. It was launched by the United National Development Programme in 2012.
6. DELHI ACERS DEFEATED MUMBAI ROCKETS TO CLINCH PREMIER BADMINTON LEAGUE TITLE
i. Delhi Acers grabbed the Premier Badminton League title at the Siri Fort Sports Complex in New Delhi.
ii. Delhi acers won the title after defeating Mumbai Rockets.
iii. Premier Badminton League is owned by the Badminton Association of India
iv. Earlier it was known as Indian Badminton League during its foundation on 2013.
v. Bollywood actor Akshay Kumar is the brand ambassador of the league.
7. FIRST INFECTED CASE OF ZINKA VIRUS FOUNDED IN THE US
i. First case of a mosquito borne virus called Zinka was founded in the US.
ii. It was founded that the virus is spreading rapidly through the American continent.
iii. It is a virus that can make people sick with rash, fever and joint pain.