DAILY CURRENT AFFAIRS: 19 JAN 2016
(DAILY NEWS INDIA)
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.
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