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Important
Points
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Salaried people, with an annual
income of up to Rs 5 lakh from a single source, will not have to file income
tax returns for the 2011-12 assessment year.
This
will benefit about 85 lakh taxpayers, or about 20% of the total income tax
assessees in the country. The Central Board of Direct Taxes
chairman, Prakash Chandra, announced the launch of
the scheme on Thursday, though it was announced in budget 2011-12 in
February. This scheme, however, will not be
applicable to those who have received salaries from more than one employer in
a financial year by changing jobs.The scheme will also not cover those who
have refund claims or have income from sources other than salary and savings
account interests.Chandra said in such cases, the tax payer must report PAN
and the entire income from interests to their employers, pay the tax as
deduction at source and obtain a certificate of tax deduction in Form No 16.
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Central Board of Direct Taxes --chairman, Prakash Chandra
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PAN
Card-- A PAN card is a valuable means of
photo identification accepted by all government and non-government
institutions in the country--
Presence in All parts of India
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Four days after the mysterious death
of Dr Sachan in an Uttar Pradesh jail, the police
is no where close to cracking the case. The post mortem report suggested that
he was murdered, but the Uttar Pradesh government has been insisting it was a
suicide. What is even more confusing is the contradictory versions that the
government and the police have been giving on the CMO's viscera.Its
believed that a scam in NRHM funds is behind this alleged killing,
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CMO – Chief Medical Officer
NRHM - National Rural Health Mission..Launched in 2005.In 18 states of India..
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BANGALORE: the arrest of six
members of the Karnataka Forum for Dignity (KFD) in connection with
the kidnap and murder of two BBM students from Hunsur, the Bharatiya Janata
Party demanded that the KDF should be banned immediately in the interest of
country's security.
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KFD-- Karnataka Forum for Dignity, also known as KFD, is a socio-cultural
organization in Karnataka,
India, working on issues related to minorities and backward communities in Karnataka, and was formed in the
year 2001.
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NAC
clears drafts of Food Security, Communal Violence Bills
At the end of its first year, the Sonia
Gandhi-led National Advisory Council (NAC) on Wednesday cleared the drafts of
two landmark laws — one that promises food security to 90 per cent of rural
households and 50 per cent of urban households, and the other that will
ensure justice for minorities of all categories when they become victims of
targeted, mass violence. The two drafts will now be sent to the government.
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NAC -- The National
Advisory Council (NAC) of India is an advisory body set up to monitor the
implementation of the UPA government's manifesto, the Common
Minimum Programme(CMP). It is a brainchild of Congress party president, Sonia
Gandhi. It is also informally called as UPA's Planning Commission for social
agenda. On 23 March 2006, Sonia gandhi had resigned from the post of
chairmanship of the NAC after Office of profit controversy. On 29 March 2010,
she was back as the chairperson of NAC. The NAC comprises distinguished professionals drawn
from diverse fields of development activity who serve in their individual
capacities. Through the NAC, the Government has access not only to their
expertise and experience but also to a larger network of Research
Organizations, NGOs and Social Action and Advocacy Groups.
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Union Cabinet approved extension
of the RSBY Scheme
to all Registered Domestic Workers
Union Cabinet on
23 June 2011 approved extension of the Rashtriya Swasthya Bima Yojana (RSBY) to all the registered domestic workers. The scheme will likely cover
approximately 47.50 lakh domestic workers in the country. The RSBY will
provide for smart card based cashless health insurance cover of Rs.30000 per
annum to BPL workers (a unit of five) in unorganised sector in any empanelled
hospital anywhere in India. More than 2.34 crore smart cards were issued on
31 May 2011.
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About
Domestic Workers
Domestic
work forms one of the largest sectors of female employment in the urban
areas. Domestic workers are unorganized and the sector remains
unregulated and unprotected by labour laws. These workers come from
vulnerable communities and backward areas. Most of these are poor,
vulnerable, illiterate, unskilled and do not understand the urban labour
market.
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Finally, India card Rupay to replace
Visa, MasterCard
After
almost two years of planning, the National Payments Corporation has at last
finalised the proposed unique India Card
which once commercially launched would be an domestic alternative to the
global real-time payment processing firms like Visa and MasterCard.
"We
have finalised name of the proposed card as Rupay at our board meeting here
today. We have also finalised the logo for the same," a senior official
of the RBI-set up National Payments Corporation of India (NPCI), told PTI
this evening. The official sought not to be named.
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NPCI –National Payments
Corporation of India
NPCI is a non-for-profit company set up in
2009 as an umbrella institution at the behest of the RBI for managing all the
retail payment systems in the country.
It has 10 shareholders — State Bank of India, Punjab National
Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI
Bank, HDFC Bank, Citibank and HSBC
Chairman—Narayan Murthy
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Orissa
halts land takeover for $12 bln POSCO plant
Local
protests have forced Orissa to halt acquiring land for a proposed $12 billion
steel plant to be built by South Korea's POSCO, further delaying the biggest
foreign direct investment in Asia's third largest economy.
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POSCO – third largest steel
industry in the world.
Anti-POSCO movement leader Abhaya Sahoo
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