Bill to tax deposits passed in Lok Sabha
- The Taxation Laws (2nd Amendment) Bill 2016 was passed in the lower House of Parliament without any debate, provoking strong protests from Opposition leaders.
- The new Taxation Laws (2nd Amendment) Bill 2016, passed sans debate in the Lok Sabha on Tuesday, will entail a tax of 30 per cent of the income declared, an additional surcharge of 33 per cent of the tax amount, and a penalty of 10 per cent of the declared income.
- This adds up to a total liability of about 50 per cent. In addition, the amendment states that 25 per cent of the declared income is to be deposited in an interest-free deposit scheme with a lock-in of four years.
Download exclusive notes on your mobileInstall GK Digest Android app here
Son has no legal right in parents' house, can stay at their mercy: Delhi high court
- A son has no legal right to live in the self-acquired house of his parents, the Delhi high court has said
- He can only reside there only at their "mercy"
- Only because parents have allowed the son to live in their house does not mean they have to bear his "burden" throughout life, the court added.
- The court also said that only because parents have allowed the son to live in their house as long as their relations are cordial does not mean they have to bear his "burden" throughout his life.
Akshay Venkatesh awarded Infosys Prize in Mathematical Sciences
- Venkatesh, a professor of mathematics, is the 2016 recipient of the Infosys Prize in Mathematics, which is awarded by the Infosys Science Foundation.
- Venkatesh’s interests are impressively wide-ranging and include study of number theory, automorphic forms, topology, ergodic theory and representation theory. The award announcement commends his work as creative and foundational, describing it as “characterized by unexpected guiding heuristic ideas which are then brought to fruition with dazzling technical virtuosity.”
Singapore tops global education rankings
- Singapore has the highest-achieving primary and secondary pupils in international education tests in maths and science.
- But primary school pupils in Northern Ireland were ranked sixth at maths, the highest of any in Europe.
- England's performance has not advanced since tests four years ago.
- The top places in these rankings are dominated by East Asian countries, such as South Korea and Japan, which are pulling away from their competitors.
Jagdish Chandra Bose’s 158th birthday commemorated by Google Doodle
- Jagdish Chandra Bose was one of the pioneers of radio communication, and discovered millimetre length electromagnetic waves, invented many components still used in microwave communications, and was one of the first to use a semiconductor to detect radio waves.
- His research into radio waves were during the same time period when Marconi, widely credited to be the inventor of the radio was researching into radio communications.
- The experiments by Bose were geared towards understanding radio microwaves, rather than using it as a form of communication.
Donald Trump Nominates 2nd Indian-American Woman To Top Administration Post
- US President-elect Donald Trump on Tuesday nominated a second Indian-American woman to a top administration position, putting her in charge of a federal agency within the health department as part of a "dream team" which he said would transform America's healthcare system.
- "I am pleased to nominate (Dr) Seema Verma to serve as Administrator of the Centers for Medicare and Medicaid Services," Mr Trump said in a statement.
- The announcement came along with Trump's nomination of Congressman Tom Price as his Health and Human Services Secretary.
- A leading expert in the country on Medicare and Medicaid, Dr Verma would serve as Administrator of Centers for Medicare and Medicaid Services.
Smart Prep Kit by Ramandeep Singh - Get here