1) Double Taxation Avoidance Agreement (DTAA): Supreme Court held that DTAA cannot be given effect unless notified under the Income Tax Act.
- Section 90 of Income Tax Act prescribes tax relief under the DTAA.
- DTAA is a tax treaty signed between two or more countries.
- Its objective is that tax-payers in these countries can avoid being taxed twice for the same income.
- It applies in cases where a tax-payer resides in one country and earns income in another.
2) “Chakra-II” operation: CBI recently searched many locations under “Chakra-II” operation.
- It is aimed at combating and dismantling infrastructure of organized cyber-enabled financial crimes in India.
- CBI conducted it jointly with national and international agencies and private sector giants.
- Chakra-1 was conducted by the CBI in coordination with the Interpol, the FBI and police forces of multiple countries.
3) Traditional attar production: Kannauj is known for its traditional attar production, with a rich heritage dating back centuries.
- Attar is a fragrant liquid made from flower and herb extracts.
- Kannauj is a significant hub for the fragrance and flavor industry in India, contributing to the country’s exports. Hence, it is known as Perfume city.
- India is the world’s largest exporter of attar.
- Kannauj Perfume has also received GI Tag
4) Little Ice Age (LIA): Recent study showed the record of moist conditions during LIA from Western Ghats, India.
- LIC was one of the coldest periods of the past 10,000 years, a period of cooling that was particularly pronounced in North Atlantic region.
- It is attributed as a period between 16th and 19th centuries.
- This cold spell was said to be responsible for crop failures, famines and pandemics throughout Europe, resulting in misery and death for millions.
- LIA is attributed to a combination of cooling from volcanic aerosols and low solar activity producing lower surface temperatures.
Places in News:
1) Australia (Capital: Canberra):
- Recently, Australians rejected creating an Indigenous Voice in the final referendum voting.
- Political Boundaries
- It is the smallest continent and one of the largest countries on Earth lying between the Pacific and Indian oceans in the Southern Hemisphere.
- Geographical features:
- Highest point: Mount Kosciuszko
- Lowest point: Lake Eyre, also called Kati Thanda.
- A chain of highlands, known as the Great Dividing Range runs from inland to coast.
- Longest river: Murray River