Thursday, September 28, 2023

Direct Taxes in India

 These types of taxes are directly paid to the government of India by individual/entity


Types of Direct Taxes in India

A. Income Tax

This tax is well known in India. This tax is paid by the taxpayer whose income exceeds the taxable limit. The taxpayers have to pay tax on applicable rates. As per income tax rate for F.Y 2018-19, we do not have to pay income tax if your income is up to INR 2,50,000. But if your earning exceeds 2.5 lakhs then you have to pay 5% tax as income tax up to INR 5 lakhs of Income. Rebate of 2500/- is available for total income up to 3.5 lacs.

B.Capital Gains Tax

Capital gain tax is the tax that has to be borne by the individual/entity at the time of sale of any capital asset for instance property, shares, bonds and valuable material etc . It is levied on the difference between sale price and purchase cost (or indexed cost).

Capital gain can be long term or short term on the basis of holding period of the capital assets. For instance, for immovable property, if holding period is greater than 24 months then it will be treated as long term capital gain.

Tax rate for short term and long term capital gain differs based on their nature.

C. Securities Transaction Tax

Securities transaction tax (STT) was introduced in the 2004 Union Budget and came into effect from 1 October 2004.The basic motive behind introduction of Securities transaction tax (STT) was to curb curb evading of taxes on profits from capital gains earned by transacting in securities. This tax is levied at the time of purchase and sale of securities listed on stock exchanges in India. The rate of STT differs based on the type of security traded and whether the transaction is a purchase or a sale.

D. Fringe Benefit Tax

Tax paid on fringe benefits provided by the company to employees. This is separate to income tax and is calculated on the taxable value of the fringe benefits provided.

E. Corporate Tax

Corporate tax also called corporation tax is levied on the income of corporate bodies of our country. In India, the taxation companies are divided into international and domestic companies.

General Essay


 

Wednesday, September 27, 2023

New Parliament


 

Thursday, September 21, 2023

Sunday, September 17, 2023

Wednesday, September 6, 2023

Migration


 

Monday, August 28, 2023

India’s Demographic Dividend: Significance of population growth, challenges associated with demographic dividend, potential impact on the economy

According to the United Nations data, India has surpassed China to become world's most populous nation with 142.86 crore people.

According to the United Nations data, India has overtaken China in population recently. India’s population surpassed 1.4286 billion and it is slightly higher than China’s 1.425 billion. Though India’s birth rate has slowed down in recent years, the country has a larger working-age population in absolute numbers (1.1 billion) and proportion (75 percent of the population) than any other major economy.

On the other hand, China is ageing, with its population declining in 2022for the first time in more than 60 years. Its economic growth, which had skyrocketed at an average of nearly 10 percent a year since 1978, is now anaemic: The country’s gross domestic product (GDP) grew just 3 percent in 2022, and even by Beijing’s own estimates, is expected to increase by just5 percent this year.

Demographic dividend:

In  this  context  a  term  that  has  become  a  buzzword  is “Demographic dividend” which refers to the faith in India's huge youth population which is expected to hoist India up with its energy and exuberance. India with its huge population is a young country and is bestowed with a unique demographic opportunity.

Policymakers began viewing a growing young population in the form of the so-called demographic dividend — when a majority of a country’s population falls within the working ages (15-64 years) — as an engine for further economic development.

According  to  United  Nations  Population  Fund  report,  25 percent  of  India's  population  is  in  the  age  group  of  0-14 years, 18 per cent in the 10 to 19 age group, 26 per cent in  the  age  bracket  of  10  to  24  years,  68  per  cent  in  15 to  64  years  age  group,  and  7  per  cent  above  65  years. A demographic dividend is said to be occurring when the ratio of the working-age population is high and the dependency ratio in terms of the proportion of children and elderly people is low. This advantage can create the resources needed to increase investments in enhancing human capabilities, which, in turn, can have a positive influence on the growth and development of the society and the country.

There is need to harness this ‘demographic dividend’ for the nation’s economic growth and youth empowerment. According to a CII report from last year, India’s demographic dividend can boost India's GDP growth — from the current $3 trillion to $9 trillion by 2030 and $40 trillion by 2047. While India is likely to add 101 million people in the working age population between 2020-30, this number will reduce to 61 million and then to 21 million for 2030-40 and 2040-50, respectively. It is expected that India's working age population will start declining in the decade post 2050.

From  a  demographic  perspective,  a  youthful  age  structure ensures that the global population will continue to grow even if  average  fertility  drops  immediately  to  the  “replacement level”, at which each generation bears the exact number of children needed to replace itself. Indeed, fully two thirds of the anticipated increase in global population between 2020 and 2050 will be driven by the momentum of growth embedded in the relatively youthful age distribution of the world’s population in 2020.A large working-age population makes India attractive, not just from the labour market perspective but because the country could act as a large market for goods and services. The Demographic dividend has already helped India’s economic growth since the 1990s and country succeeded quite well in moving people from farms to factories. This was a cultural change  caused  by  policy  interventions  and  helped  by  the demographic changes.

Challenges associated with high population growth:

There is no denying the fact that high population growth rates impose pressure on finite resources, human, financial, and environmental. Evidence suggests that less than one-third of the anticipated increase in the use of natural resources until 2050 would be the result of population growth. Rapid population increase can exacerbate the challenge of ensuring that future development is sustainable and inclusive. Achieving  the  Sustainable  Development  Goals,  particularly those related to health, education and gender equality, can contribute to slowing global population growth.

Population growth magnifies the harmful impact of economic processes on the environment; yet the rise in per capita income has been more important than population growth in driving increased production and consumption. Rapid population growth makes it more difficult for low-income and  lower-middle-income  countries  to  afford  the  increase in public expenditures on a per capita basis that is needed to eradicate poverty, end hunger and malnutrition, and ensure universal access to health care, education and other essential services.

India has successfully slowed down the growth of the population significantly over the past decades without resorting to coercive practices. It has invested strategically to tap its demographic advantage and position itself as the provider of manpower for countries across the world, where aging and the non-availability of workers are posing serious challenges. Yet for that young workforce to earn and save well, India needs enough well-paying jobs designed to serve the modern economy. That’s increasingly proving a struggle for India. It is wrong to say that India’s youth bulge is a double-edged sword. To gain from it, India will need to create enough employment opportunities for the millions who enter its workforce every year — a challenge at which it is currently failing. For that, India needs to attract global investments. The window of opportunity is shrinking, and unless India moves quickly, its demographic dividend could easily turn into an unemployment nightmare.

Sunday, August 27, 2023

INDIAN SOCIETY QUESTION & ANSWERS


 

Saturday, August 19, 2023

Sustainable Development Goals - SDGs


 The 17 sustainable development goals (SDGs) to transform our world:

  • GOAL 1: No Poverty
  • GOAL 2: Zero Hunger
  • GOAL 3: Good Health and Well-being
  • GOAL 4: Quality Education
  • GOAL 5: Gender Equality
  • GOAL 6: Clean Water and Sanitation
  • GOAL 7: Affordable and Clean Energy
  • GOAL 8: Decent Work and Economic Growth
  • GOAL 9: Industry, Innovation and Infrastructure
  • GOAL 10: Reduced Inequality
  • GOAL 11: Sustainable Cities and Communities
  • GOAL 12: Responsible Consumption and Production
  • GOAL 13: Climate Action
  • GOAL 14: Life Below Water
  • GOAL 15: Life on Land
  • GOAL 16: Peace and Justice Strong Institutions
  • GOAL 17: Partnerships to achieve the Goal

Thursday, August 17, 2023

TSPSC NON-GAZETTED CATEGORIES OF POSTS IN GROUND WATER DEPARTMENT GENERAL STUDIES MASTER QUESTION PAPER (EXAM HELD ON: 20-07-2023)

TSPSC NON-GAZETTED CATEGORIES OF POSTS IN GROUND WATER DEPARTMENT WATER RESOURSES MASTER QUESTION PAPER (EXAM HELD ON: 20-07-2023)

TSPSC NON-GAZETTED CATEGORIES OF POSTS IN GROUND WATER DEPARTMENT CHEMISTRY LAB ASSISTANT MASTER QUESTION PAPER (EXAM HELD ON: 20-07-2023)

TSPSC NON-GAZETTED CATEGORIES OF POSTS IN GROUND WATER DEPARTMENT JUNIOR TECHNICAL ASSISTANT MASTER QUESTION PAPER (EXAM HELD ON: 20-07-2023)

TSPSC GAZETTED CATEGORIES OF POSTS IN GROUND WATER DEPARTMENT GENERAL STUDIES MASTER QUESTION PAPER (EXAM HELD ON: 18-07-2023)

TSPSC GAZETTED CATEGORIES OF POSTS IN GROUND WATER DEPARTMENT WATER RESOURSES MASTER QUESTION PAPER (EXAM HELD ON: 19-07-2023)

TSPSC GAZETTED CATEGORIES OF POSTS IN GROUND WATER DEPARTMENT ASSISTANT HYDROMETEOROLOGIST MASTER QUESTION PAPER (EXAM HELD ON: 19-07-2023)

TSPSC GAZETTED CATEGORIES OF POSTS IN GROUND WATER DEPARTMENT ASSISTANT CHEMIST MASTER QUESTION PAPER (EXAM HELD ON: 19-07-2023)

APPSC Schedule of Written Examinations (Computer Based Tests)

Sunday, August 13, 2023

Women Protection Acts




Thursday, August 10, 2023

Status of Mangrove Plantations

 The Ministry of Environment, Forest and Climate Change (MoEFCC) has been implementing a project titled ‘Wetlands management for biodiversity and climate protection’, at four Ramsar Sites in India. Under this project, Climate Risk Assessment (CRA) studies have been conducted at four sites namely, Pong Dam Lake and Renuka Lake in Himachal Pradesh, Bhitarkanika Mangroves in Odisha and Point Calimere Wetland Complex in Tamil Nadu. The project has developed an assessment methodology for site-level climate risk assessment and demonstrated how climate risks could be integrated into the wetland management plan at the site level towards capturing climate co- benefits while maintaining the wise use approach of the Ramsar Convention on wetlands. The experience and lessons learnt have been consolidated into a publication ‘Managing Climate Risks in Wetlands – A Practitioner’s Guide’, to serve as an important capacity development tool for Wetland Managers.

MoEFCC provides financial assistance to coastal States to undertake activities related to conservation and management of coastal ecosystems such as mangrove plantation, shelterbelt plantation, coral transplantation, enhancement of livelihood security of coastal communities including capacity building. Management Action Plans (MAP) for conservation and management of mangroves are formulated and implemented in 9 coastal States covering 38 identified mangrove sites. The list is at Annexure.

As per the India State of Forest Report, 2021, the mangrove cover in the country has been estimated at 4992 sq km with net increment of 17 sq.km in the year 2021 as compared to 2019.

To augment India’s efforts in afforestation, the Union budget 2023-24 announced ‘Mangrove Initiative for Shoreline Habitats & Tangible Incomes (MISHTI)’ programme. The aim of the MISTHI Scheme is to protect and revive mangrove ecosystems on the Indian coast while enhancing the socio-economic status of coastal communities. The programme is based on convergence of resources from various ongoing and proposed schemes at Central and State level, with an objective to develop and restore the potential sites of mangroves with the help of State Governments.

List of identified sites for conservation and Management of Mangroves

ANNEXURE

Sl. No.

State / UT
 

Mangrove Site

  1.  

West Bengal

  1. Sundarbans

  1.  

Odisha

 

 

  1. Bhitarkanika

  1. Mahanadi Delta

  1. Subernarekha

  1. Devi Kadua Estuary

  1. Dhamra

  1. Mangrove Genetic Resources Centre

  1. Chilka

  1.  

Andhra Pradesh

 

  1. Coringa

  1. Krishna

  1. East Godavari

  1.  

Tamil Nadu

 

 

  1. Pichavaram

  1. Muthupet

  1. Ramnad

  1. Pulicat

  1. Kazhuveli

  1.  

Andaman and Nicobar

  1. North Andamans

  1. Nicobar

  1.  

Kerala

 

  1. Vembanad

  1. Kannur

  1.  

Karnataka

 

 

  1. Honnavar/Dakshin Kannada

  1. Coondapur

  1. Karwar

  1. Managalore Forest Division

  1.  

Gujarat

 

 

  1. Gulf of Kutch

  1. Gulf of Khambat

  1. Dumas Ubhrat

  1.  

 Goa

  1. Goa

  1.  

Maharashtra

  1. Achra-Ratnagiri

  1. Devgarh-Vijay Durg

  1. Veldur

  1. Kundalika-Revdanda

  1. Mumbra-Diva

  1. Vikroli

  1. Shreevardhan

  1. Vaitarna

  1. Vasai-Manori

  1. Malvan