Indo-Iran Ties India welcomed the announcement of lifting of nuclear-related sanctions against Iran in January 2016. External Affairs Minister, in a letter to her Iranian counterpart, stated that the milestone represented triumph of diplomacy and signalled a new chapter of peace, progress and prosperity for Iran and our region opening up vast opportunities for our… Read More »
Adoption of Monuments by Corporate Houses The Government of India encourages Public Private Partnership (PPP) for conservation, restoration and environmental development of protected monuments and sites under the aegis of National Culture Fund (NCF), a Trust under the Ministry of Culture. A few Corporate Houses and public sector units have come forward for the maintenance… Read More »
Conversion of Heritage Sites into Tourist Spots in Maharashtra The Archaeological Survey of India (ASI) is responsible for protection, conservation and maintenance of monuments/sites in the country which have been declared as of National importance. Besides this, providing basic facilities/amenities (e.g. drinking water, toilet blocks, facilities for physically challenged, pathways, cultural notice boards/signage, vehicle parking,… Read More »
Steps to Address Obstacles Under’startup India’ Mission Local Circles is a social media site which keeps conducting informal surveys on various issues. Government policies cannot be framed on the basis of such informal surveys. The Government, however, has identified regulatory reforms which aim at reducing inefficiencies and corruption as its top most priority. A number… Read More »
Civil Aviation Minister says Budget 2016-17 has paved the way for developing India the MRO hub of Asia. The Minister of Civil Aviation Shri P Ashok Gajapathi Raju has said that the Budget 2016-17 has paved the way for developing India as a Maintenance, Repair and Overhauling (MRO) hub of Asia. Speaking to media persons … Read More »
Nuclear Agreements The Government has recently signed the following agreements in the field of peaceful uses of nuclear energy: (i). Agreement between the Government of India and the Government of Australia on Cooperation in the Peaceful Uses of Nuclear Energy, signed on 05.09.2014 and entered into force with effect from 13.11.2015. (ii). Agreement between the… Read More »
MoUs with Japan and Russia in the various fields of Railways The Union Cabinet chaired by the Prime Minister Shri Narendra Modi was today apprised of the following Memorandum of Cooperation (MoC) and Memorandum of Understanding (MoUs):- (i) The MoC signed between Ministry of Railways (MoR) and Ministry of Land, Infrastructure, Transport and Tourism… Read More »
Penalty for underreporting and misreporting of income As per Finance Bill 2016 the following section shall be inserted in Income tax act 1961 with effect from the 1st day of April, 2017, namely:— ‘Section 270A. (1) The Assessing Officer or the Commissioner (Appeals) or the Principal Commissioner or Commissioner may direct that any person who… Read More »
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Income-tax NOTIFICATION New Delhi, the 1st March, 2016 S.O. 637 (E).─ In exercise of the powers conferred by sub-section (1) of section 249, read with section… Read More »
CHAPTER VII OF FINANCE BILL 2016 INFRASTRUCTURE CESS Infrastructure Cess Section 159. (1) In the case of goods specified in the Eleventh Schedule, being goods manufactured or produced, there shall be levied and collected for the purposes of the Union, a duty of excise, to be called the Infrastructure Cess, at the rates specified in the… Read More »