Current Affairs for SSC CGL Exams - 12 May 2015

Current Affairs for SSC CGL Exams - 12 May 2015

:: National ::

SC directs Madras HC to not hear proceeding relating to appointment of officers of lower judiciary

  • The Supreme Court stayed a controversial interim order passed by Madras High Court judge Justice C.S. Karnan, allegedly undermining the authority of High Court Chief Justice Sanjay Kishan Kaul.

  • Staying Justice Karnan’s order of April 30, 2015, passed in suo motu proceedings relating to the appointment of officers of lower judiciary, a Bench headed by Chief Justice H.L. Dattu ordered that the judge be restrained from either hearing or issuing any further directions in the case. It said there shall not be any interference by any person or authority or judges in completing the process initiated by the High Court for selection and appointment of junior judicial officers in Tamil Nadu till disposal of the special leave petition.

LS passes Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015

  • The lower House of Parliament on 11th May has passes the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 on the premise of urgency to have a deterrent law for those “secreting” their income and assets abroad.
  • The bill seeks to deal with the menace of black money and to replace the Income Tax (IT) Act, 1961 for the taxation of foreign income.

Salient features of the Bill

  • Scope- Provisions will applicable to both undisclosed foreign income and assets including financial interest in any entity and the Act will be applicable to all persons resident in India.

  • Rate of tax– A flat rate of 30 percent tax will be applied to undisclosed foreign income or assets. In case of any carried forward losses, no exemption or deduction or set off will be allowed which may be admissible under the existing IT Act, 1961.

  • Penalties- Violation will entail stringent penalties. Following are penalties mentioned

  • For nondisclosure of foreign income or assets outside India, penalty will be equal to three times the amount of tax payable i.e. 90 percent of the undisclosed income in addition to tax payable at 30%. In case of failure to furnish return in respect to foreign income or assets, there will be of 10 lakh rupees.

India’s Asiatic lion population rising

  • Census finds 27% increase in number of endangered lions found in their only habitat in the world – the Gir forest of Gujarat. The census was conducted over five days earlier this month in the 20,000 sqkm (7,700 sq m) sanctuary and surrounding forest lands. There are 523 lion in which 109 male lions, 201 females and 213 cubs in the Gir sanctuary and nearby forest areas of Junagadh district. The last census in 2010 showed 411 lions, up from 359 in 2005.

  • The cats are a subspecies of lion which are slightly smaller than their African cousins and have a fold of skin along their bellies. They are a major attraction for tourists to Gujarat. India faces intense international scrutiny over its conservation efforts because it is home to many endangered species, including tigers.

  • Conservation efforts were hailed in January after 2,226 tigers were spotted in a country-wide census, a 30% increase in the population from 2010. Authorities across Asia are waging a major battle against poachers, who often sell tiger body parts to the lucrative traditional Chinese medicine market, as well as other man-made problems such as habitat loss.

Hyderabad to host global pharma summit

  • Hyderabad will play host to a four-day global pharma expo and summit from July 23. With ‘Innovation and Advances’ as its theme, the event will deliberate on a range of issues, from pharmaceutical technology to education, indigenous drugs and drug regulatory affairs, besides serving as a platform for joint ventures and project collaboration.

  • Renowned pharmaceutical experts will be addressing the Indo-Global Pharma Expo and Summit 2015, being organised by Indus Foundation, in association with FTAPCCI and OMICS group, according to S.B. Anumolu, president of the Foundation. More than 4,000 delegates are expected to attend the event, which will serve as a one stop stage for showcasing latest technological developments.

:: Newsmaker ::

Historian Ninad Bedekar passes away

  • Noted historian and orator Ninad Bedekar, known for his studies on the Maratha king, Shivaji, and his extensive research on the forts of Maharashtra, passed away aged 65 at a hospital in Pune.

  • Mr. Bedekar, a mechanical engineer by training, breathed his last on Sunday. According to relatives, he had been suffering from heart and kidney ailments for the last couple of years.

  • A prolific writer in his mother-tongue Marathi, he is credited with popularising the history of Maharashtra.In 2003, Mr. Bedekar, along with the right-wing Shiv Sena, was instrumental in bringing about the ban on American scholar James Laine’s book on Shivaji titled Shivaji: Hindu King in Islamic India . Mr. Bedekar had written to the Oxford University Press seeking a ban.

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