The Union Finance Ministry has introduced simpler income tax return forms ‘Sahaj’ and ‘Sugam’. While ‘Sahaj’ is for salaried people, ‘Sugam’ return form is applicable for small businessmen and professionals covered under presumptive taxation.
BRIC or the group of four most developing countries—Brazil, Russia, India, China—has transformed itself to BRICS with induction of South Africa.
Indira Gandhi Scholarship Scheme offers scholarships to single girl child for post-graduate studies. Earlier the scholarship was offered to 1200 single girl children in a year. Now the UGC has decided to lift the cap and open the scholarship programme to all girls who meet the eligibility criteria.
India Post has launched online portal ‘e-post office’ to provide postal transactions and tracking service online. This portal will provide electronic money order (eMO), instant money order (iMO), sale of philatelic stamps, postal information, tracking of express and international shipments, PIN code search and registration of feedback and complaints online. Through this portal, DoP will also sell products, handicrafts and other products made by small-scale industries. The content of the portal is in English. The next version of the portal is expected to be launched in Bangla and Kannada language.
The Constitution (115 Amendment) Bill, 2011, proposes to give powers to both the Centre and the States to make laws with respect of Goods and Services Tax (GST). The amendment is required as currently the Centre cannot impose excise duty beyond the manufacturing stage and the States cannot levy a tax on services.
The Financial Sector Legislative Reforms Commission (FSRLC) has been set up by the Union government to re-write and clean-up financial laws of India. It is headed by Justice B.N. Srikrishna
As per the Economic Survey, 2011,India has the fourth largest foreign exchange reserves in the world. India’s foreign exchange reserves touched $ 297.3 billion in December 2010, from 279.1 billion in March.
No comments:
Post a Comment