TNPSC Current Affairs February 01, 2020

www.tnpsc.academy – TNPSC Current Affairs February 01, 2020 (01/02/2020)

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Topic: Economic Policies in India, General administration

What is Dividend Distribution Tax?

Dividend Distribution Tax shifted to individuals instead of companies. It is a tax levied on dividends that a company pays to its shareholders out of its profits.

How is it applied?

The Dividend Distribution Tax, or DDT, is taxable at source, and is deducted at the time of the company distributing dividends. The dividend is the part of profits that the company shares with its shareholders.

The law provides for the Dividend Distribution Tax to be levied at the hands of the company, and not at the hands of the receiving shareholder.

However, an additional tax is imposed on the shareholder, who receives over Rs. 10 lakh in dividend income in a financial year.

Is Dividend Distribution Tax applicable to private companies?

Under Section 115-O, the Income Tax Act, any domestic firm which is declaring or distributing dividend has to pay DDT at the rate of 15 per cent on the gross amount of dividend.

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Topic: International Diary of Events, Places in News

Brexit Deal

Britain has officially left the European Union (EU) and has become the first country to leave the 28-member bloc. The UK stopped being a member of the European Union (EU) after 23:00 GMT on 31 January 2020.

What is the European Union?

The EU is an economic and political union involving 28 European countries. It allows free trade, which means goods can move between member countries without any checks or extra charges. The EU also allows free movement of people, to live and work in whichever country they choose. The UK joined in 1973 (when it was known as the European Economic Community) and it will be the first member state to withdraw.

What happens after Brexit day?

After the UK formally leaves the EU, there is still a lot to talk about and months of negotiation will follow. While the UK has agreed the terms of its EU departure, both sides still need to decide what their future relationship will look like.

During the 11-month transition period, the UK will continue to follow all of the EU’s rules and its trading relationship will remain the same.

What needs to be agreed?

The transition period is meant to give both sides some breathing space while a new free trade agreement is negotiated.

This is needed because the UK will leave the single market and customs union at the end of the transition. A free trade agreement allows goods to move around the EU without checks or extra charges.

If a new one cannot be agreed in time, then the UK faces the prospect of having to trade with no deal in place. That would mean tariffs (taxes) on UK goods travelling to the EU and other trade barriers.

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Topic: Environment and Ecology, Latest Diary of Events

Yellow Rust

Yellow Rust was recently detected in wheat crops in parts of Punjab and Haryana. It is a disease that appears as yellow stripes of powder or dust on leaves and leaf sheaths of the wheat crop.

How it occurs?

This occurs when the rust colonies in the leaves drain the carbohydrates from the plant and reduce the green leaf area. Rain, dew and fog favour the disease’s development.

Spread: The disease can spread rapidly under congenial conditions and affects crop development, and eventually the yield. Yield due to the disease can affected by between 5 and 30 per cent.

Where else is it observed in India?

In India, it is a major disease in the Northern Hill Zone and the North-Western Plain Zone and spreads easily during the onset of cool weather and when wind conditions are favourable.

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Topic: General Administration, courts verdict, Latest Diary of Events

What is Anticipatory bail?

A constitution bench of the Supreme Court has ruled that an anticipatory bail cannot be limited to a fixed time period and can continue till the end of the trial.

Background:

The judgment came in a reference made by a three-judge bench in the case of Sushila Aggarwal. State of NCT of Delhi regarding the scope of Section 438 of the Code of Criminal Procedure (CrPC) which provides for grant of anticipatory bail.

Observations made by the Court:

If there are any special circumstances necessitating a limit on the tenure of anticipatory bail, it is open for the court to do so. Nothing in Section 438 CrPC compels or obliges courts to impose conditions limiting relief in terms of time.

When Parliament has not thought it appropriate to curtail the rights of the citizens, it would be not appropriate for the SC to curtail powers granted to courts with regard to anticipatory bail.

Anticipatory bail application could be moved by a person even before filing of FIR. The court, while granting anticipatory bail, should examine seriousness and gravity of the offence to impose any condition on the petitioner, if necessary.

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Topic: Profile of States, Latest Diary of Events, New Inventions on Science and Health

A.P. flags off country’s first ‘fruit train’

A ‘fruit train’, said to be the first of its kind in the country, was recently flagged off from Tadipatri Railway Station in Andhra Pradesh.

The fruit train was carrying a load of 980 metric tonnes of locally grown bananas to the Jawaharlal Nehru Port in Mumbai, from where the consignment will be exported to Iran.

This is the first time in India that an entire train is being sent to the gateway port (JNPT) for export. This helps save both time and fuel as 150 trucks would have been required to send a consignment of this size by road to JNPT, which is over 900 km away, before the temperature-controlled containers are loaded on ships.

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Topic: International Relations, Latest Diary of Events

India-Africa Defence Ministers Conclave at DefExpo

For the first time, in the history of DefExpo, India and Africa are to discuss their defence relations. The India-Africa Defence Conclave is to be held on February 6, 2020. Around 24 Defence Ministers are to participate in the conclave.

Key facts:

India’s largest Defence Exhibition is to be held in Lucknow between February 5, 2020 and February 8, 2020. During the exhibition, India showcases its existing and new defence technologies to the world. As a part of the event, the India-Africa Defence Conclave is to be held.

This year more than 1000 companies have registered at the Defexpo. Last year, when the Defexpo was held in Chennai, around 702 companies had registered.