Current Affairs - January 2017

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Seven new countries join BEPS agreement

Seven new countries Lithuania, Gabon, Hungary, Indonesia, Malta, Mauritius and Russia – have signed Multilateral Competent Authority Agreement for Country-by-Country Reporting (CbC MCAA). With this, the total number of signatories has increased to 57 including India (signed in May 2015). CbC MCAA is a tax co-operation agreement to enable automatic sharing of country-by-country information. About… Read More »

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IndiaPost gets payments bank licence from RBI

IndiaPost under Department of Posts (Union Ministry of Communications and Information Technology) received final payments bank licence from the Reserve Bank of India (RBI). With this, India Post became the third entity after Bharti Airtel and Paytm to receive final payments bank licence to roll-out of banking operations commercially under the permit. Key Facts As… Read More »

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Government launches Sparsh Leprosy Awareness Campaign

The Union Government has launched nationwide “Sparsh Leprosy Awareness Campaign (SLAC)” on the occasion of Anti-Leprosy Day (observed on the last Sunday of January). The day is observed every year on January 30 in the memory of Mahatma Gandhi who attained martyrdom on this day in 1948, to remember his selfless efforts and care for… Read More »

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GAAR will be effective from April 1, 2017

The Union Finance Ministry has announced that the General Anti Avoidance Rule (GAAR) will be effective from the 1 April, 2017. In this regard Income Tax (IT) department has issued a slew of clarifications on implementation of GAAR, seeking to address concerns of foreign investors over implementation of the anti-evasion measure. GAAR seeks to prevent… Read More »

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Indian Navy’s Theatre Level Exercise TROPEX 17

The Indian Navy’s Annual Theatre Readiness Operational Exercise (TROPEX) 2017 is being conducted off the Western Seaboard. The month long exercise will see participation of ships and aircraft of both the Western and Eastern Naval Command and also assets from the Indian Air Force, Indian Army and the Indian Coast Guard. Key Facts TROPEX 17… Read More »

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