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CURRENT AFFAIRS FOR 11 MAY 2016
May 11, 2016
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INDIA, MAURITIUS SIGN PROTOCOL TO AMEND TAX TREATY; CAPITAL GAIN TO COME UNDER TAX NET

With this Protocol, India gets taxation rights on capital gains arising from alienation of shares acquired on or after 1st April, 2017 in a company resident in India with effect from financial year 2017-18, while simultaneously protection to investments in shares acquired before 1st April, 2017 has also been provided.

Further, in respect of such capital gains arising during the transition period from 1st April, 2017 to 31st March, 2019, the tax rate will be limited to 50% of the domestic tax rate of India, subject to the fulfillment of the conditions in the Limitation of Benefits Article.

Taxation in India at full domestic tax rate will take place from financial year 2019-20 onwards.

WE WON UTTARAKHAND TRUST VOTE WITH 33 VOTES, BJP GOT 28: CONGRESS MLA

Confirming that Harish Rawat had won the trust vote, Congress MLA Sarita Arya told the media, “We won the trust vote. The Congress got 33 votes and the BJP got 28 votes.”

33 members who were on our side cast their votes, want to thank PDF,BSP, UKD, says Congress MLA Indira Hridayesh after floor test

President’s rule was lifted for the duration of the floor test, which was from 11 a.m. to 1 p.m. on Tuesday. Following Supreme Court orders, the results will be presented to the court on Wednesday, before being made public.

NDA’S SUCCESS STORY: AADHAAR-DBT HELPED GOVERNMENT SAVE RS 27,000 CRORE

the Prime Minister chaired a review meeting on the progress of Aadhaar and Direct Benefit Transfer (DBT) programmes, and the results indicated that the platform is ready for expanding Aadhaar-based DBT across all central and state social sector schemes in a big way.

The government is estimated to have saved over Rs 27,000 crore by cash transfers for payments to beneficiaries under various welfare schemes in the last two years.