Current Affairs 08 December

Current Affairs
   08 December 2016 Current Affairs
 
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India will be a partner of the US defense chief

Defence Minister Manohar Parrikar and outgoing US Defense Secretary Ashton Carter to India's large defense partners' agreement to nominate. The agreement to share the high-level US defense technology will help in quicker assistance.
Licensing regulations were finalized. It was finalized in New Delhi's South Block. This will strengthen bilateral security cooperation.
Parrikar and Carter on the subject of discussions between the seventh. The leaders in the Asia Pacific regional issues and exchanged views on development issues.
 

Key Facts:

Counter-terrorism and strengthening bilateral cooperation, the two countries agreed to continue expressed.
No protection from terrorist groups, a national action plan to ensure it does not get announced.
US Congress Foreign Affairs Committee on November 30, 2016. Carter and they had asked the US to India as a partner of the defense action required to acceptance.

The bill is to be passed by both houses of the US Congress.
US President Barack Obama will sign it later. After that it will serve as law.
Proceedings of the Congress
US House of Congress, according to the provisions outlined in the report, more than 3,000 pages in the case of India's 618 billion budget for national defense authorization bill (Andiaa) is being worked on.
The defense minister and foreign minister that India has directed that they measure what level of mutual interest to support military operations and has the ability to execute them.

 

Castle Supreme Court shall not taxable rental income

December 5 2016 the Supreme Court ruled that the former rulers of the State or by his successors Prinsle residential part of the palace will not be taxable income from renting.
The court IT Act, 1961. Section 10 (19A) of the exempt income despite such incidents also reprimanded the department. Ranjan Gogoi and Justice Abhay Manohar Sapre The decision gave the bench.
Former court Prinsle State quota, which is now part of Rajasthan's ruling was hearing the petition. The ruling from the rental income to cover their income had challenged the high court order. Umaid Bhawan Palace and the City Mahlon- two residential ruler Pasel own.
Umaid Bhawan Palace, the residence of the ruler are used as a part of it was leased to the Ministry of Defense in 1976.

Background:

• In 1950, the central government as a residential palace of a former ruler as his inalienable Patrit property was exempt from income tax. But in 1984, a portion of the tax department of the castle being rented for income assessment process started.
• Tax Department said the exemption was for personal use and rental income was taxable. However, the Commissioner of Income Tax and Income Tax Appellate Tribunal dismissed the petition of the tax department. The authorities subsequently took the matter Rajasthan High Court.
there is a right.
• High Court ruling overturning the Supreme Court held that section 10 (19A) in the 'castle' use of the word ruler tax to exempt and the castle part of the rent paid on income tax was also free.
• The government of former rulers in the IT Act for tax exemption under Section 10 (19A) was added.

 

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