Showing posts with label NEWS. Show all posts
Showing posts with label NEWS. Show all posts
Wednesday, 15 April 2020
COVID19 - Helping People in need for food - App idea
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Covid19 - Helping people in need for food - App idea. This video is made for
COVID-19 Samadhan | MHRD Mega Innovation Challenge | TRACK 1 challenge.
Wednesday, 17 August 2016
Shocking Fact: Travelling to Moon leads to Death
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There are several improvements and latest technologies are being invented in the field of Space Technology. The first Space journey began in the year of October 4,1957 with the launch of Sputnik 1 by the Soviet Union.
Later several satellites were sent for many purposes then the next big giant leap in space technology is that sending Human Beings to space.
It was 1961 and a Russian Cosmonaut Yuri Gagarin became the first Human in space,
making a 108-minute orbital flight in his Vostok 1 spacecraft but before this event a dog has been the first traveller from earth to space her name is like but unfortunately due to the delay the dog died painlessly during the orbital traveller after 192 days in space.
After eight years of the gap from when the man first entered the space, there was a huge mission conducted by the NASA it was sending Human beings to the moon!!!
The mission name was Apollo 11 started the journey from earth on July 16,1969 and landed on moon’s surface on July 20,1969.
Three astronauts were sent to the moon,
1.Neil Armstrong
2. Mike Collins
3. Buzz Aldrin.
Neil Armstrong and Buzz Aldrin walked on the moon’s surface and they walked for 3 hours in moon’s surface and collected moon’s surface rocks and some kind of soil materials.
After that, there are several inventions done in Space technology now it improved a lot to advanced technology.
But the question of the people is that why no man is sent to the moon after 1969?
There is proper answer till now by NASA.
But now there is one of the reasons why the man is not sent to the moon.
Travelling to the moon causes death a shocking news has been revealed.
The 24 astronauts who travelled in the Apollo mission 3 astronauts died out of heart disease in which Neil Armstrong is also one of them.
Although the another two astronauts Mike Collins and Buzz Aldrin are alive still there is a danger for the heart problem.
A research says that comparing to human beings living on earth the space travellers get 5 times more chance to get affected by heart problems, this is due to the Cosmic radiation beyond Earth’s Protective Magnetic Field said by an American space research.
This reason is confirmed by conducting several research and tests.
Thursday, 24 March 2016
India Won the Match against Bangladesh
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India Won the Match against Bangladesh.
It was a dramatic and thrill match to watch...
India batted first and only scored 146 runs.
India struggled to get the runs.
But Bangladesh from the beginning itself they batted well , the win predictor after 15 overs of the second innings showed 71% of chance of winning for Bangladesh.
It was final over, Bangladesh needed 11 runs from 6 balls.
First ball was single run then second and third ball was 4 so 2 runs required from 3 balls.
Every indians on the Chinna samy stadium was in silent, the crowd has been muted for a while, but the miracle happened in the next three balls.
4 th ball was by mushafir he hit the ball to long but Shikar dhawan managed to catch it, then the next ball also wicket , catch taken by Jadeja.
Then 1 ball 2 runs , Pandya bowled in the line ball, the batsman missed the ball the batsman ran and the Wicket keeper Dhoni also ran both was 15 meters distance and dhoni managed to hit the wicket before the batsman reached the line.
Finally India won the thrill match against Bangladesh.
Then 1 ball 2 runs , Pandya bowled in the line ball, the batsman missed the ball the batsman ran and the Wicket keeper Dhoni also ran both was 15 meters distance and dhoni managed to hit the wicket before the batsman reached the line.
Finally India won the thrill match against Bangladesh.
Friday, 18 March 2016
IDO INDIA 2020 CONTEST
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INDIAN DEVELOPMENT ORGANIZATION is conducting an Essay competition on the Topic INDIA 2020: ROLE OF ENGINEERS IN MAKING THE INDIA THE SUPER POWER COUNTRY
organization to trigger and motivate the patriotism inside each and every Indians. We have started this organization also to increase the awareness among our students.
As a part of our Organization’s activities we have planned to conduct an Essay competition on the Topic INDIA 2020: ROLE OF ENGINEERS IN MAKING THE INDIA THE SUPER POWER COUNTRY.
We are expecting the innovative ideas, concepts, real time problems in India and their solution in that essay. All the Students are requested to take part in this competition. Students are informed that don’t think this as the completion it is the revolution for the next generation, So kindly deliver your creative ideas in the Essay.
Instructions for the Essay:
1.They can be written in Tamil, English also in Thunglish.
2. We will not see the grammar mistakes or spelling mistakes, we will consider only the innovative ideas.
3. You can write your Essay in your Home itself, you can refer in internet, book or any person.
4. Last day for submission of the Essay is on or before 31.03.2016.
5. Note: Submission of Essay as soft copy (Word document format- MS WORD )is most preferable.
Prize for the competition:
Students of 1st, 2nd and 3rd year are allowed for the competition.
3 prizes will be given based on their innovative ideas and concepts.
Each year will get 1 prize.
1st year Prize – INDIA 2020 BOOK BY DR.APJ ABDUL KALAM
2nd year Prize- IDEAS FOR FUTURE INDIA
3rd year Prize-IGNITED MINDS
Top 20 Essay papers will be displayed in our organization’s website www.idonextgen.com.
ONLINE PARTICIPANTS:
For online participant , you can share your ideas to our mail id: idonextgen@gmail.com. Best
online particiapant's ideas will be displayed in our website with their names.
Last date for submission is 31.03.2016.
Monday, 7 March 2016
Ray Tomlinson, the man who put the @ in email, passes away
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Ray Tomlinson, the man who put the @ in email, passes away aged 74.
In a 2012 interview with Wired, Tomlinson explained his choice:
“I looked at the keyboard, and I thought: ‘What can I choose here that won’t be confused with a username?’” Tomlinson remembers. “If every person had an ‘@’ sign in their name, it wouldn’t work too well. But they didn’t. They did use commas and slashes and brackets. Of the remaining three or four characters, the ‘@’ sign made the most sense. It denoted where the user was … at.
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INDIA WON THE ASIA CUP 2016
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India Won the 2016 Asia Cup.
Yesterday (06.03.2016) there was a heavy rain and the match was postponed to 9.30 and the total overs reduced to 15 overs.
India won the toss and elected to bowl first.
Bangladesh scored 120 runs from 15 overs.
With the target of 121 from 90 balls and with required run rate 8.00.
Finally, the Indian batsman's managed to chase the target and scored 122-2 in 13.5 overs.
Man of the match Shikar Dhawan.
Tuesday, 1 March 2016
INDIA VS SRILANKS - 2016 ASIA CUP
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India vs SriLanka 2016 Asia Cup match.
India Won the Match against SriLanka by 5 Wickets.
India Won the Toss and elected to field first.
The Indian bowling was good and made the SriLanka score only 138.
Then the Indian Batsman's Showed their effort made the chasing possible 142-5.
SriLanka Batting:
INDIAN BOWLING:
INDIAN BATTING:
SRILANKA BOWLING:
PERFORMER OF THE DAY:
HARDIK PANDYA
COOLEST PLAYER:
YUVRAJ SINGH
MAN OF THE MATCH:
VIRAT KOHLI
Monday, 29 February 2016
PAKISTAN VS UAE
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2016 ASIA CUP , PAKISTAN VS UAE .
PAKISTAN WON BY 7 WICKETS.
BUDGET 2016-2017 OVERVIEW
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Key Features of Budget 2016-2017
INTRODUCTION
§ Growth of Economy accelerated to 7.6% in 2015-16.§ India hailed as a ‘bright spot’ amidst a slowing global economy by IMF.
§ Robust growth achieved despite very unfavourable global conditions and two consecutive years shortfall in monsoon by 13%
§ Foreign exchange reserves touched the highest ever level of about 350 billion US dollars.
§ Despite increased devolution to States by 55% as a result of the 14th Finance Commission award, plan expenditure increased at RE stage in 2015-16 – in contrast to earlier years.
CHALLENGES IN 2016-17
§ Risks of further global slowdown and turbulence.§ Additional fiscal burden due to 7th Central Pay Commission recommendations and OROP.
ROADMAP&PRIORITIES
§ 'Transform India' to have a significant impact on economy and lives of people.§ Government to focus on –
· ensuring macroeconomic stability and prudent fiscal management.
· boosting on domestic demand
· continuing to the pace of economic reforms and policy initiatives to change the lives of our people for the better.
§ Focus on enhancing expenditure in priority areas of - farm and rural sector, social sector, infrastructure sector employment generation and recapitalisation of the banks.
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§ Focus on Vulnerable sections through:
· Pradhan Mantri Fasal Bima Yojana
· New health insurance scheme to protect against hospitalisation expenditure
· facility of cooking gas connection for BPL families
§ Continue with the ongoing reform programme and ensure passage of the Goods and Service Tax bill and Insolvency and Bankruptcy law
§ Undertake important reforms by:
· giving a statutory backing to AADHAR platform to ensure benefits reach the deserving.
· freeing the transport sector from constraints and restrictions
· incentivising gas discovery and exploration by providing calibrated marketing freedom
· enactment of a comprehensive law to deal with resolution of financial firms
· provide legal framework for dispute resolution and re-negotiations PPP projects and public utility contracts
· undertake important banking sector reforms and public listing of general insurance companies undertake significant changes in FDI policy.
AGRICULTURE AND FARMERS’ WELFARE
§ Allocation for Agriculture and Farmers’ welfare is ` 35,984 crore§ ‘Pradhan Mantri Krishi Sinchai Yojana’ to be implemented in mission mode. 28.5 lakh hectares will be brought under irrigation.
§ Implementation of 89 irrigation projects under AIBP, which are languishing for a long time, will be fast-tracked
§ A dedicated Long Term Irrigation Fund will be created in NABARD with an initial corpus of about ` 20,000 crore
§ Programme for sustainable management of ground water resources with an estimated cost of ` 6,000 crores will be implemented through
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multilateral funding
§ 5 lakh farm ponds and dug wells in rain-fed areas and 10 lakh compost pits for production of organic manure will be taken up under MGNREGA
§ Soil Health Card scheme will cover all 14 crore farm holdings by March 2017.
§ 2,000 model retail outlets of Fertilizer companies will be provided with soil and seed testing facilities during the next three years
§ Promote organic farming through ‘Parmparagat Krishi Vikas Yojana’ and 'Organic Value Chain Development in North East Region'.
§ Unified Agricultural Marketing ePlatform to provide a common e-market platform for wholesale markets
§ Allocation under Pradhan Mantri Gram Sadak Yojana increased to `
19,000 crore. Will connect remaining 65,000 eligible habitations by
2019.
§ To reduce the burden of loan repayment on farmers, a provision of ` 15,000 crores has been made in the BE 2016-17 towards interest subvention
§ Allocation under Prime Minister Fasal Bima Yojana ` 5,500 crore.
§ ` 850 crores for four dairying projects - ‘Pashudhan Sanjivani’, ‘Nakul Swasthya Patra’, ‘E-Pashudhan Haat’ and National Genomic Centre for indigenous breeds
RURAL SECTOR
§ Allocation for rural sector - ` 87,765 crore.§ ` 2.87 lakh crore will be given as Grant in Aid to Gram Panchayats and
Municipalities as per the recommendations of the 14th Finance Commission
§ Every block under drought and rural distress will be taken up as an intensive Block under the Deen Dayal Antyodaya Mission
§ A sum of ` 38,500 crores allocated for MGNREGS.
§ 300 Rurban Clusters will be developed under the Shyama Prasad
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Mukherjee Rurban Mission
§ 100% village electrification by 1st May 2018.§ District Level Committees under Chairmanship of senior most Lok Sabha MP from the district for monitoring and implementation of designated Central Sector and Centrally Sponsored Schemes.
§ Priority allocation from Centrally Sponsored Schemes to be made to reward villages that have become free from open defecation.
§ A new Digital Literacy Mission Scheme for rural India to cover around 6 crores additional household within the next 3 years.
§ National Land Record Modernisation Programme has been revamped.
§ New scheme Rashtriya Gram Swaraj Abhiyan proposed with an allocation of ` 655 crores.
SOCIAL SECTOR INCLUDING HEALTH CARE
§ Allocation for the social sector including education and health care – `1,51,581 crore.§ ` 2,000 crores allocated for the initial cost of providing LPG connections to BPL families.
§ New health protection scheme will provide health cover up to ` One lakh per family. For senior citizens, an additional top-up package up to ` 30,000 will be provided.
§ 3,000 Stores under Prime Minister’s Jan Aushadhi Yojana will be opened during 2016-17.
§ ‘National Dialysis Services Programme’ to be started under National Health Mission through PPP mode
§ “Stand Up India Scheme” to facilitate at least two projects per bank branch. This will benefit at least 2.5 lakh entrepreneurs.
§ National Scheduled Caste and Scheduled Tribe Hub to be set up in partnership with industry associations
§ Allocation of ` 100 crores each for celebrating the Birth Centenary of Pandit Deen Dayal Upadhyay and the 350th Birth Anniversary of Guru
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Gobind Singh.
EDUCATION, SKILLS AND JOB CREATION
§ 62 new Navodaya Vidyalayas will be opened§ Sarva Shiksha Abhiyan to increasing focus on quality of education
§ Regulatory architecture to be provided to ten public and ten private institutions to emerge as world-class Teaching and Research Institutions
§ Higher Education Financing Agency to be set up with initial capital base of ` 1000 Crores
§ Digital Depository for School Leaving Certificates, College Degrees, Academic Awards and Mark sheets to be set-up.
SKILL DEVELOPMENT
§ Allocation for skill development – ` 1804. crore.§ 1500 Multi Skill Training Institutes to be set-up.
§ National Board for Skill Development Certification to be set up in partnership with the industry and academia
§ Entrepreneurship Education and Training through Massive Open Online Courses
JOB CREATION
§ GoI will pay a contribution of 8.33% for of all new employees enrolling in EPFO for the first three years of their employment. A budget provision of ` 1000 crore for this scheme.§ Deduction under Section 80JJAA of the Income Tax Act will be available to all assesses who are subject to statutory audit under the Act
§ 100 Model Career Centres to operational by the end of 2016-17 under National Career Service.
§ Model Shops and Establishments Bill to be circulated to States.
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INFRASTRUCTURE AND INVESTMENT
§ Total investment in the road sector, including PMGSY allocation, would be ` 97,000 crores during 2016-17.§ India’s highest ever kilometres of new highways were awarded in 2015. To approve nearly 10,000 km of National Highways in 2016-17.
§ Allocation of ` 55,000 crores in the Budget for Roads. Additional ` 15,000 crores to be raised by NHAI through bonds.
§ Total outlay for infrastructure - ` 2,21,246crore.
§ Amendments to be made in Motor Vehicles Act to open up the road transport sector in the passenger segment
§ Action plan for the revival of unserved and underserved airports to be drawn up in partnership with State Governments.
§ To provide calibrated marketing freedom in order to incentivise gas production from deep-water, ultra-deep-water and high pressure-high temperature areas
§ Comprehensive plan, spanning next 15 to 20 years, to augment the investment in nuclear power generation to be drawn up.
§ Steps to revitalise PPPs:
· Public Utility (Resolution of Disputes) Bill will be introduced during 2016-17
· Guidelines for renegotiation of PPP Concession Agreements will be issued
· New credit rating system for infrastructure projects to be introduced
§ Reforms in FDI policy in the areas of Insurance and Pension, Asset Reconstruction Companies, Stock Exchanges.
§ 100% FDI to be allowed through FIPB route in the marketing of food products produced and manufactured in India.
§ A new policy for management of Government investment in Public Sector Enterprises, including disinvestment and strategic sale,
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approved.
FINANCIAL SECTOR REFORMS
§ A comprehensive Code on Resolution of Financial Firms to be introduced.The Statutory basis for a Monetary Policy framework and a Monetary Policy Committee through the Finance Bill 2016.
§ A Financial DataManagement Centre to be set up.
§ RBI to facilitate retail participation in Government securities.
§ New derivative products will be developed by SEBI in the Commodity Derivatives market.
§ Amendments in the SARFAESI Act 2002 to enable the sponsor of an ARC to hold up to 100% stake in the ARC and permit non-institutional investors to invest in Securitization Receipts.
§ Comprehensive Central Legislation to be bought to deal with the menace of illicit deposit taking schemes.
§ Increasingmembers and benches of the Securities Appellate Tribunal.
§ Allocation of ` 25,000 crores towards recapitalisation of Public Sector Banks.
§ Target of amount sanctioned under Pradhan Mantri Mudra Yojana increased to ` 1,80,000 crore.
§ General Insurance Companies owned by the Government to be listed on the stock exchanges.
GOVERNANCE AND EASE OF DOING BUSINESS
§ A Task Force has been constituted for rationalisation of human resources in various Ministries.§ Comprehensive review and rationalisation of Autonomous Bodies.
§ Bill for Targeted Delivery of Financial and Other Subsidies, Benefits and Services by using the Aadhar framework to be introduced.
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§ Introduce DBT on the pilot basis for fertilizer.
§ Automation facilities will be provided in 3 lakh fair price shops by March 2017.
§ Amendments in Companies Act to improve the enabling environment for start-ups.
§ Price Stabilisation Fund with a corpus of ` 900 crores to help maintain stable prices of Pulses.
§ “Ek Bharat Shreshtha Bharat” programme will be launched to link States and Districts in an annual programme that connects people through exchanges in areas of language, trade, culture, travel and tourism.
FISCAL DISCIPLINE
The Fiscal deficit in RE 2015-16 and BE 2016-17 retained at3.9% and 3.5%.§ Revenue Deficit target from 2.8% to 2.5% in RE 2015-16
§ Total expenditure projected at ` 19.78 lakh crore
§ Plan expenditure pegged at ` 5.50 lakh crore under Plan, increase of 15.3%
§ Non-Plan expenditure kept at ` 14.28 lakh crores
§ Special emphasis to sectors such as agriculture, irrigation, the social sector including health, women and child development, the welfare of Scheduled Castes and Scheduled Tribes, minorities, infrastructure.
§ Mobilisation of additional finances to the extent of ` 31,300 crores by NHAI, PFC, REC, IREDA, NABARD and Inland Water Authority by raising Bonds.
§ Plan / Non-Plan classification to be done away with from 2017-18.
§ Every new scheme sanctioned will have a sunset date and outcome review.
§ Rationalised and restructured more than 1500 Central Plan Schemes into about 300 Central Sector and 30 Centrally Sponsored Schemes.
§ Committee to review the implementation of the FRBM Act.
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RELIEF TO SMALL TAX PAYERS
§ Raise the ceiling of tax rebate under section 87A from `2000 to `5000 to lessen the tax burden on individuals with income up to `5 lakhs.§ Increase the limit of deduction of rent paid under section 80GG from `24000 per annum to `60000, to provide relief to those who live in rented houses.
BOOST EMPLOYMENT AND GROWTH
§ Increase the turnover limit under Presumptive taxation scheme under section 44AD of the Income Tax Act to ` 2 crores to bring big relief to a large number of assessees in the MSME category.§ Extend the presumptive taxation scheme with profit deemed to be 50%, to professionals with gross receipts up to `50 lakh.
§ Phasing outdeductionunderIncomeTax:
· Accelerated depreciation, wherever provided in IT Act, will be limited to maximum 40% from 1.4.2017
· Benefit of deductions for Research would be limited to 150% from 1.4.2017 and 100% from 1.4.2020
· Benefit of section 10AA to new SEZ units will be available to those units which commence activity before 31.3.2020.
· The weighted deduction under section 35CCD for skill development will continue up to 1.4.2020
§ Corporate Tax rate proposals:
· New manufacturing companies incorporated on or after 1.3.2016 to be given the option to be taxed at 25% + surcharge and cess provided they do not claim profit linked or investment-linked deductions and do not avail of investment allowance and accelerated depreciation.
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· Lower the corporate tax rate for the next financial year for relatively small enterprises i.e companies with turnover not exceeding ` 5 crores (in the financial year ending March 2015), to 29% plus surcharge and cess.
§ 100% deduction of profits for 3 out of 5 years for startups setup during April 2016 to March 2019. MAT will apply in such cases.
§ 10% rate of tax on income from the worldwide exploitation of patents developed and registered in India by a resident.
§ Complete pass through of income-tax to securitization trusts including trusts of ARCs. Securitization trusts required to deduct tax at source.
§ Period for getting the benefit of long-term capital gain regime in case of unlisted companies is proposed to be reduced from three to two years.
§ Non-banking financial companies shall be eligible for the deduction to the extent of 5% of its income in respect of provision for bad and doubtful debts.
§ Determination of residency of the foreign company on the basis of Place of Effective Management (POEM) is proposed to be deferred by one year.
§ Commitment to implement General Anti Avoidance Rules (GAAR) from 1.4.2017.
§ Exemption of service tax on services provided under Deen Dayal Upadhyay Grameen Kaushalya Yojana and services provided by Assessing Bodies empanelled by Ministry of Skill Development & Entrepreneurship.
§ Exemption of Service tax on general insurance services provided under ‘Niramaya’ Health Insurance Scheme launched by National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disability.
§ Basic custom and excise duty on refrigerated containers reduced to 5% and 6%.
MAKE IN INDIA
10§ Changes in customs and excise duty rates on certain inputs to reduce costs and improve competitiveness of domestic industry in sectors like Information technology hardware, capital goods, defence production, textiles, mineral fuels & mineral oils, chemicals & petrochemicals, paper, paperboard & newsprint, Maintenance repair and overhauling [MRO] of aircraft and ship repair.
MOVING TOWARDS A PENSIONED SOCIETY
§ Withdrawal up to 40% of the corpus at the time of retirement to be tax exempt in the case of National Pension Scheme (NPS). Annuity fund which goes to legal heir will not be taxable.§ In the case of superannuation funds and recognized provident funds, including EPF, the same norm of 40% of the corpus to be tax-free will apply in respect of corpus created out of contributions made on or from 1.4.2016.
§ Limit for the contribution of an employer in recognized Provident and Superannuation Fund of ` 1.5 lakh per annum for taking tax benefit. Exemption from service tax for Annuity services provided by NPS and Services provided by EPFO to employees.
§ Reduce service tax on Single premium Annuity (Insurance) Policies from 3.5% to 1.4% of the premium paid in certain cases.
PROMOTING AFFORDABLE HOUSING
§ 100% deduction for profits to an undertaking in the housing project for flats upto30 so. metres in four metro cities and 60 so. metres in other cities approved during June 2016 to March 2019 and completed in three years. MAT to apply.§ Deduction for additional interest of `50,000 per annum for loans up to `35 lakh sanctioned in 2016-17 for first time home buyers, where house cost does not exceed ` 50 lakh.
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§ Distribution made out of the income of SPV to the REITs and INVITs having specified shareholding will not be subjected to Dividend Distribution Tax, in respect of dividend distributed after the specified date.
§ Exemption from service tax on construction of affordable houses up to 60 square metres under any scheme of the Central or State Government including PPP Schemes.
§ Extend excise duty exemption, presently available to Concrete Mix manufactured at the site for use in construction work to Ready Mix Concrete.
RESOURCE MOBILIZATION FOR AGRICULTURE, RURAL ECONOMY AND CLEAN ENVIRONMENT
§ Additional tax at the rate of 10% of gross amount of dividend will be payable by the recipients receiving the dividend in excess of ` 10 lakh per annum.§ Surcharge to be raised from 12% to 15% on persons, other than companies, firms and cooperative societies having income above ` 1 crore.
§ Tax to be deducted at source at the rate of 1 % on purchase of luxury cars exceeding the value of ` ten lakh and purchase of goods and services in cash exceeding ` two lakh.
§ Securities Transaction tax in case of ‘Options’ is proposed to be increased from .017% to .05%.
§ Equalization levy of 6% of the gross amount for payment made to non-residents exceeding ` 1 lakh a year in the case of B2B transactions.
§ Krishi Kalyan Cess, @ 0.5% on all taxable services, w.e.f. 1 June 2016. Proceeds would be exclusively used for financing initiatives for improvement of agriculture and welfare of farmers. Input tax credit of this cess will be available for payment of this cess.
§ Infrastructure cess, of 1% on small petrol, LPG, CNG cars, 2.5% on diesel cars of certain capacity and 4% on other higher engine capacity vehicles
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and SUVs. No credit of this cess will be available nor credit of any other tax or duty be utilized for paying this Cess.
§ Excise duty of ‘1% without input tax credit or 12.5% with input tax credit’ on articles of jewellery [excluding silver jewellery, other than studded with diamonds and some other precious stones], with a higher exemption and eligibility limits of ` 6 crores and ` 12 crores respectively.
§ Excise on readymade garments with a retail price of ` 1000 or more raised to 2% without input tax credit or 12.5% with input tax credit.
§ ‘Clean Energy Cess’ levied on coal, lignite and peat renamed to ‘Clean Environment Cess’ and the rate increased from `200 per tonne to `400 per tonne.
§ Excise duties on various tobacco products other than beedi raised by about 10 to 15%.
§ Assignment of right to use the spectrum and its transfers has been deducted as a service leviable to service tax and not the sale of intangible goods.
PROVIDING CERTAINTY IN TAXATION
§ Committed to providing a stable and predictable taxation regime and reduce black money.§ Domestic taxpayers can declare undisclosed income or such income represented in the form of any asset by paying tax at 30%, and surcharge at 7.5% and penalty at 7.5%, which is a total of 45% of the undisclosed income. Declarants will have immunity from prosecution.
§ Surcharge levied at 7.5% of undisclosed income will be called Krishi Kalyan surcharge to be used for agriculture and rural economy.
§ New Dispute Resolution Scheme to be introduced. No penalty in respect of cases with disputed tax up to ` 10 lakh. Cases with disputed tax exceeding ` 10 lakh to be subjected to 25% of the minimum of the imposable penalty. Any pending appeal against a penalty order can also
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be settled by paying 25% of the minimum of the imposable penalty and tax interest on quantum addition.
§ High-Level Committee chaired by Revenue Secretary to oversee fresh cases were assessing officer applies the retrospective amendment.
§ One-time scheme of Dispute Resolution for ongoing cases under the retrospective amendment.
§ Penalty rates to be 50% of the tax in case of underreporting of income and 200% of tax where there is misreporting of facts.
§ Disallowance will be limited to 1% of the average monthly value of investments yielding exempt income, but not exceeding the actual expenditure claimed under rule 8D of Section 14A of Income Tax Act.
§ Time limit of one year for disposing of petitions of the taxpayers seeking the waiver of interest and penalty.
§ Mandatory for the assessing officer to grant a stay of demand once the assessee pays 15% of the disputed demand while the appeal is pending before Commissioner of Income-tax (Appeals).
The Monetary limit for deciding an appeal by a single member Bench of ITAT enhanced from ` 15 lakhs to ` 50 lakhs.
§ 11 new benches of Customs, Excise and Service Tax Appellate Tribunal (CESTAT).
SIMPLIFICATION AND RATIONALIZATION OF TAXES
§ 13 cesses, levied by various Ministries in which revenue collection is less than ` 50 crores in a year to be abolished.§ For non-residents providing alternative documents to PAN card, higher TDS not to apply.
§ Revision of return extended to Central Excise assessees.
§ Additional options to banking companies and financial institutions, including NBFCs, for reversal of input tax credits with respect to non-taxable services.
§ Customs Act to provide for deferred payment of customs duties for
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importers and exporters with proven track record.
§ Customs Single Window Project to be implemented at major ports and airports starting from beginning of next financial year.
§ Increase in free baggage allowance for international passengers. Filing of baggage only for those carrying dutiable goods.
TECHNOLOGY FOR ACCOUNTABILITY
§ Expansion in the scope of e-assessments to all assessees in 7 mega-cities in the coming years.§ Interest at the rate of 9% p.a against normal rate of 6% p.a for the delay in giving effect to Appellate order beyond ninety days.
§ ‘e-Sahyog’ to be expanded to reduce compliance cost, especially for small taxpayers.
Sunday, 28 February 2016
SRILANKA VS BANGLADESH - 2016 ASIA CUP
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Bangladesh won the match against SriLanka by 23 Runs.
The Bangladesh batted first and scored 147 runs for 7 wickets.
Then the Srilanka scored only 124 runs for 8 wickets.
Bangladesh won 2 matches for 3 matches.
The next match for Bangladesh is against Pakistan.
Saturday, 27 February 2016
India vs Pakistan Live Score
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INDIA
SCORE: 85
WICKETS: 5
OVERS:15.3
PAKISTAN
SCORE: 83
WICKETS: 10
OVERS: 17.3
INDIA WON BY 5 WICKETS
PAKISTAN BATTING SCORECARD:
INDIAN BOWLING
INDIAN BATTING
MAN OF THE MATCH
VIRAT KOHLI 49 RUNS
INDIAN BATTING
PAKISTAN BOWLING
MAN OF THE MATCH
VIRAT KOHLI 49 RUNS
Friday, 26 February 2016
BANGLADESH VS UAE- 3RD T20 2016 ASIA CUP
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Bangladesh Won the first match against UAE in the 3rd T20 2016 ASIA CUP.
Bangladesh the won the match against UAE by 51 runs.
At first, the Bangladesh batted and the Bangladesh batsman's are playing fire. At the end of 9 overs their score was 72-2 but after that, the UAE bowlers showed their dominant and made the run rate low and the Bangladesh only able to score 133-8 runs only.
Although the target was very low the Bangladesh bowlers kept UAE batsman's in their control and picked up 5 wickets for 35 runs. Then the UAE lost all their wickets for just 82 runs.
BANGLADESH BATTING SCORECARD:
UAE BOWLING
UAE BATTING SCORECARD:
BANGLADESH BOWLING:
MAN OF THE MATCH - MAHMUDULLAH RIYAD (36 RUNS AND 2 WICKETS)
NEXT MATCH:
MATCH 4 - 27-2-2016
INDIA VS PAKISTAN
Thursday, 25 February 2016
SRI LANKA VS UAE - 2ND T20 2016 ASIA CUP
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UPDATE
SriLanka Won the first match against UAE in the 2nd match of 2016 Asia Cup.
The SriLanka won the match against UAE very closely by 14 runs.
At first, the Srilanka batted and scored 129-8 runs.
Although it is the lowest target in the T20 but UAE lost their two main wickets in the first over itself.
But the UAE batsman's struggled and showed their best performance against the Srilankan's Bowling attack.
UAE managed to score 115-9 at the end of the match.
Malinga took 4 wickets in the match.
SRILANKA BATTING - SCORECARD
UAE BOWLING
UAE BATTING - SCORECARD
SRILANKA BOWLING
MAN OF THE MATCH - LASITH MALINGA
BEST CATCH - CHAMARA KAPUGEDERA
COOLEST PLAYER - DINESH CHANDIMAL
ASIA CUP 2016 - MATCH 3
BANGLADESH VS UAE AT MIRPUR
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