Daily : March 11, 2017

Mahabaleshwar Sail honoured with Saraswati Samman 2016

Mahabaleshwar Sail honoured with Saraswati Samman 2016

Question: Noted Konkani writer Mahabaleshwar Sail has been honoured with Saraswati Samman 2016 for which of his literary work?
(a) Hawthan
(b) Paltadcho Munis
(c) Tarangan
(d) None of the above.
Ans: (a)

  • On 9th March, 2017, eminent Konkani writer Mahabaleshwar Sail was honoured with the Saraswati Samman 2016 for his novel ‘Hawthan’.
  • His novel ‘Hawthan ‘was shortlisted from 22 regional language books.
  • ‘Hawthan’ is a work of fiction presenting the cultural map of the traditional potter community of Goa. It was published in 2009.
    The award comprises a cash prize of Rs 15 lakh and a citation.
  • Mr. Sail hails from Majoli in Uttara Kannnada district and has settled down in Goa after his retirement. He served in the Indo-Pakistan war of 1965 and later joined the postal services.
  • Mahabaleshwar Sail is best known for his work, ‘Paltadcho Munis’, which inspired a film by the same name.
  • Mahabaleshwar Sail also won Sahitya Akademi award for anthology of short stories ‘ Tarangan’ in 1993.

Reference:
http://www.thehindu.com/news/national/konkani-writer-gets-saraswati-samman/article17436790.ece

South Korean President removed from Office

South Korean President removed from Office

Question: What is the name of South Korea’s President who was recently removed from office after impeachment on corruption charges?
(a) Park Geun-hye
(b) Hwang Kyo-ahn
(c) Lee Myung-bak
(d) Roh Moo-hyun
Ans: (a)

  • On 9th March, 2017, South Korea’s President Park Geun-hye was formally removed from power after the country’s Constitutional Court unanimously upheld her impeachment for corruption and influence peddling.
  • She was accused of corruption charges at a time of rising tensions with North Korea and China.
  • Park has becomes South Korea’s first democratically elected leader to be forced from office. A snap presidential election will be held within 60 days.
  • Prime Minister Hwang Kyo-ahn, who was appointed, acting president, will remain in that post until the election.
  • Park became the 18th president of South Korea on 25 February 2013.
  • Park, 65, is the daughter of former military strongman Park Chung-hee, who served as president from 1963 to 1979 and oversaw South Korea’s transformation into an economic powerhouse.

Reference:
http://www.reuters.com/article/us-southkorea-politics-idUSKBN16H066

India and Belgium sign Protocol to amend Double Taxation Avoidance Agreement

India and Belgium sign Protocol to amend Double Taxation Avoidance Agreement

Question: What is the currency of Belgium?
(a) Euro
(b) Dollar
(c) Frank
(d) Pound
Ans: (a)

  • On 9th March, 2017 India and Belgium signed a Protocol amending the existing Agreement and Protocol between the two countries for Avoidance of Double Taxation and the Prevention of Fiscal Evasion.
  • The Protocol will broaden the scope of the existing framework of exchange of tax related information. This in turn will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.
  • To fight the menace of black money, India has either signed or amended international agreements, for the Avoidance of Double Taxation & Prevention of Fiscal Evasion with respect to Taxes on Income and for the Exchange of Information with Switzerland, Mauritius, Cyprus, Japan, Republic of Korea, Kazakhstan, Singapore and Austria during the financial year 2016-17.
  • The Kingdom of Belgium is a west European country bordered by France, the Netherlands, Germany, Luxembourg, and the North Sea. Brussels is the capital city of this small, densely populated country of about 11 million people. Currency of Belgium is Euro.
  • What is DTAA?
  • A Double Taxation Avoidance Agreement (DTAA) is a tax treaty signed between two or more countries. Its key objective is that tax-payers in these countries can avoid being taxed twice for the same income. A DTAA applies in cases where a tax-payer resides in one country and earns income in another.
  • DTAAs can either be comprehensive to cover all sources of income or be limited to certain areas such as taxing of income from shipping, air transport, inheritance, etc. India has DTAAs with more than eighty countries, of which comprehensive agreements include those with Australia, Canada, Germany, Mauritius, Singapore, UAE, the UK and US.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=159028

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