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DRDO Successfully Tests Smart Anti Airfield Weapon

New Delhi (ABC Live): The Defence and Research Development Organization (DRDO) yesterday successfully flight tested the Smart Anti Airfield Weapon (SAAW), from an Indian Air Force (IAF) aircraft. SAAW, an indigenously designed and developed 120 kg. class smart weapon, developed by DRDO, is capable of engaging ground targets with high precision up to a range of 100 kms. The light ... Read More »

Bathinda Gets India First 2G Ethanol Bio refinery

New Delhi (ABC Live):2G Ethanol Bio refinery  : The Foundation Stone laying ceremony for setting up the first Second Generation (2G) Ethanol Bio-refinery in India is being held on 25th December, 2016 at village Tarkhanwala, Bathinda (Punjab), with an approximate investment of Rs 600 crores.  Hindustan Petroleum Corporation Limited (HPCL), a Central Government Public Sector Undertaking, is setting up the project. Minister ... Read More »

Enemy Property Ordinance, 2016 Becomes Live

New Delhi (ABC Live): Enemy Property Ordinance : The President of India has promulgated the Enemy Property (Amendment and Validation) Fifth Ordinance, 2016 (8 of 2016) on 22nd December, 2016. After the Indo-China aggression in 1962, specific properties of Chinese nationals in India were vested in the Custodian in terms of Defence of India Rules, 1962. Subsequently, after the Indo-Pak ... Read More »

India Makes Cash Transactions Reporting Mandatory

New Delhi (ABC Live): Cash Transactions Reporting : Reporting Cash Transactions under Rule 114 E of Income Tax Rules, 1962 Rule 114-E of Income-Tax Rules, 1962 for furnishing Statement of Financial Transactions (SFT) came into force with effect from 1st April, 2016. Any person who is liable for audit under section 44AB of the Income-Tax Act, 1961 is required to furnish ... Read More »

Air Marshal Birender Singh Dhanoa to Head Indian Air Force

New Delhi (ABC Live): Air Marshal Birender Singh Dhanoa :The government of India on Saturday announced that Air Marshal Birender Singh Dhanoa would be the 22nd Chief of the Indian Air Force. It is worthy to mention that Air Marshal Birender Singh Dhanoa is the sernior most officer serving the Indian Air force after present Chief of Indian Air force. ... Read More »

India Army Gets China Border Experienced General

New Delhi (ABC Live): India Army :The government of India on Saturday Lt General Bipin Rawat as next the new Army Chief of Indian Army by superseding two senior most Lt Generals, Praveen Bakshi and P M Hariz. Lt Gen Rawat is currently Vice Chief of Army Staff, will take over as the 26th Chief of Indian Army after Present ... Read More »

The Rights of Persons with Disabilities Act 2016

New Delhi (ABC Live):The Lok Sabha today passed The Rights of Persons with Disabilities Act  2016. The Bill will replace the existing PwD Act, 1995, which was enacted 21 years back. The Rajya Sabha has already passed the Bill on 14.12.2016. The salient features of the Bill are: Disability has been defined based on an evolving and dynamic concept The ... Read More »

RBI Sets Non Official Directors Appointment Norms in Banks

New Delhi (ABC Live): Non Official Directors Appointment Norms : The details of norms and procedure for appointment of Non-Official Directors (NODs) on the Boards of Public Sector Banks (PSBs)/Reserve Bank of India (RBI)/Financial Institutions (FIs)/Public Sector Insurance Companies (PSICs) are as follows: Non Official Directors Appointment Norms   Criteria of experience The following categories of persons will be considered for ... Read More »

India, Switzerland Sign Agreement for AEOI

New Delhi (ABC Live): Agreement for AEOI: India ratified Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) in June 2012 and has also signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (MCAA) based on Common Reporting Standards (CRS) on 3rd June, 2015. India and Switzerland signed the ‘Joint Declaration’ for implementation of Automatic ... Read More »

India Amends Tax Laws for Pradhan Mantri Garib Kalyan Yojana

New Delhi (ABC Live): The Taxation Laws (Second Amendment) Act, 2016 has come into force on 15th December, 2016.  The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (the Scheme) introduced vide the said Act shall commence on 17th December, 2016 and shall remain open for declarations up to 31st March, 2017. The rules in this regard have been ... Read More »