20 Facts about India that perhaps most Indians do not know
1. The Tirupati Balaji temple and the Kashi Vishwanath Templeboth, receiveTirumala Venkateswara Temple is a famous Vedic temple in the hill town of Tirumala, near Tirupati in Chittoor district of Andhra Pradesh. It is around 435 km (270 mi)[2] from the state capital Vijayawada, 138 km (86 mi)[3] from Chennai and 291 km (181 mi)[4] from Bangalore.the most-visited place of worship in the world.[8][9][10] The temple is visited by about 50,000 to 100,000 pilgrims daily (30 to 40 million people annually on average), while on special occasions and festivals, like the annual Brahmotsavam, the number of pilgrims shoots up to 500,000, making it the most-visited holy place in the world.[11]VyxpVPmNOM20yATi14HwBA&ved=0CAcQ_AUoAA&dpr=1Kashi Vishwanath Temple is one of the most famous Hindu temples and is dedicated to Lord Shiva. It is located in Varanasi, Uttar Pradesh, India, the holiest existing place of Hindus. The temple stands on the western bank of the holy river Ganges, and is one of the twelve Jyotirlingas, the holiest ofShiva temples. The main deity is known by the name Vishwanatha or Vishweshwara meaning Ruler of the universe. The temple town, which claims to be the oldest living city in the world, with 3500 years of documented history,[1] is also called Kashi and hence the temple is popularly called Kashi Vishwanath Temple.Kumbh Mela (/ˌkʊm ˈmeɪlə/ or /ˌkʊm məˈlɑː/; Devanagari: कुम्भ मेला "kumbha mēlā", Marathi: कुंभमेळा "kumbh mela") is a mass Hindu pilgrimage of faith in which Hindus gather to bathe in a sacred river. It is considered to be the largest peaceful gathering in the world where around 100 million people were expected to visit during the Maha Kumbh Mela in 2013 in Allahabad.[5][6]It is held every third year at one of the four places by rotation: Haridwar, Allahabad (Prayaga), Nashik and Ujjain.Thus the Kumbh Mela is held at each of these four places every twelfth year. Ardha ("Half") Kumbh Mela is held at only two places, Haridwar and Allahabad, every sixth year. The rivers at these four places are: the Ganges(Ganga) at Haridwar, the confluence (Sangam) of the Ganges and the Yamuna and the mythicalSaraswati at Allahabad, the Godawari at Nashik, and the Shipra at Ujjain. The name Kumbh Mela comes from Hindi, and in the original Sanskrit and other Indian languages it is more often known as Kumbha Mela. Kumbha means a pitcher and Mela means fair in Sanskrit. The pilgrimage is held for about one and a half months at each of these four places where it is believed in Hinduism that drops of nectar fell from the kumbha carried by gods after the sea was churned. Bathing in these rivers is thought to cleanse one of all sins. [7]The festival is billed as the "world's largest congregation of religious pilgrims".[8] There is no precise method of ascertaining the number of pilgrims, and the estimates of the number of pilgrims bathing on the most auspicious day may vary; approximately 80 million people attended on 14 February 2013.Buttons and button-like objects used as ornaments or seals rather than fasteners have been discovered in the Indus Valley Civilization during its Kot Yaman phase (circa 2800–2600 BCE)[5] as well as Bronze Age sites in China (circa 2000–1500 BCE), and Ancient Rome.Buttons made from seashell were used in the Indus Valley Civilization for ornamental purposes by 2000 BCE.[6] Some buttons were carved into geometric shapes and had holes pierced into them so that they could be attached to clothing with thread.[6] Ian McNeil (1990) holds that: "The button, in fact, was originally used more as an ornament than as a fastening, the earliest known being found at Mohenjo-daro in the Indus Valley. It is made of a curved shell and about 5000 years old."[7]
Cataract surgery is the removal of the natural lens of the eye (also called "crystalline lens") that has developed an opacification, which is referred to as a cataract. Metabolic changes of the crystalline lens fibers over time lead to the development of the cataract and loss of transparency, causing impairment or loss of visionMagnified view of a cataract in a human eye seen on examination with a slit lamp
Plastic surgery i
Reconstructive surgery techniques were being carried out in India by 800 BC.[8] Sushruta was a physician that made important contributions to the field of plastic and cataract surgery in 6th century BC.[9] The medical works of both Sushruta and Charak originally in Sanskrit were translated into the Arabic language during the Abbasid Caliphate in 750 AD.[10] The Arabic translations made their way into Europe via intermediaries.[10] In Italy the Branca family[11] of Sicily and Gaspare Tagliacozzi (Bologna) became familiar with the techniques of Sushruta.[10]
Yoga (/ˈjoʊɡə/; Sanskrit: योग, Listen) is a physical, mental, and spiritual practice or discipline, that aim to transform body and mind. The term denotes a variety of schools, practices and goals[1] inHinduism, Buddhism (including Vajrayana and Tibetan Buddhism[2][3][4]) and Jainism,[5][6][7][6] the best-known being Hatha yoga and Raja yoga. The term yoga is derived from the literal meaning of "yoking together" a span of horses or oxen,[1] but came to be applied to the "yoking" of mind and body.[1]
The origins of Yoga have been speculated to date back to pre-vedic Indian traditions, but most likely developed around the sixth and fifth centuries BCE, in the same ascetic circles as the early sramana movements.[8][note 1] The earliest accounts of yoga-practices are in the Buddhist Nikayas.[9] Parallel developments were recorded around 400 CE in the Yoga Sutras of Patanjali,[10] which combines pre–philosophical speculations and diverse ascetic practices of the first millennium BCE with Samkhya-philosophy. Hatha yoga emerged from tantra by the turn of the first millennium.[11][12]
GST and Insurance Amendment Bill are on the Anvil: FM
Economic Reforms Inclduing GST and Insurance Amendment Bill are on the Anvil: FM; Calls for Large Investment from Domestic and International Investors in Infrastructure Sector
The Union Finance Minister Shri Arun Jaitley said that the Government has taken series of measures to tackle various challenges being faced by the infrastructure sector in the country. The Finance Minister said that many more such measures are in offing in near future. The Finance Minister Shri Jaitley said that he is in discussion with the members of opposition parties to make necessary procedural changes in Land Acquisition Act in order to avoid delay in the implementation of the infrastructure projects. The Finance Minister was delivering the Key Note Address at the Citi's Investor Summit: "India – Poised for Higher Growth" here today.
The Finance Minister Shri Jaitley further said that various sectors have been opened for foreign direct investment in the infrastructure sector by the present Government. In this regard he specifically mentioned about the defence and power sectors among others. The Finance Minister said that the Government through its Budget has laid down a direction in which the economy is likely to proceed to restore the investors' confidence. He said that there will not be any movement of economy in contrary direction.
The Finance Minister Shri Jaitley also gave details of various economic reforms which are in the pipeline. In this regard, he specifically mentioned about the Goods and Service Tax (GST) and Insurance Amendment Bill among others. He said that he is expecting that Insurance Amendment Bill will be passed in the forthcoming Winter Session of Parliament. He said that he is in touch with the Parliament Select Committee in this regard and will try to persuade it to give its report at the earliest.
As regards GST, the Finance Minister said that he is in touch with the various State Governments and most of the contentious issues have already been resolved. He said there are two areas including liquor and petroleum products where the States want to have taxation authority. Two States want entry tax and octroi to be kept-out of the purview of the GST. The Finance Minster said that all these issues will be sorted-out soon. He will also apprise the Empowered Committee of State Finance Ministers' about the draft Constitution Amendment Bill on GST before introducing the same in Parliament.
The Union Finance Minister said that the targets fixed for disinvestment in the current financial year are quite ambitious one but he hopes to achieve that or reach near the same. He said that road shows in this regard are being held in many parts of the world.
The Finance Minister Shri Jaitley said that inflation, especially food inflation has moderated in last few months and global fuel prices have also come down. Therefore, if RBI which is highly professional organization in its wisdom decides to bring down the cost of capital will give a good fillip to the Indian economy.
Along with the Finance Minister, Shri Dinesh Sharma, Additional Secretary, Department of Economic Affairs, Shri S.S. Mundra, Deputy Governor, RBI and Shri Parmit Zhaveri, CEO, Citi Bank were also present on this occasion. The aforesaid Summit was also attended among others by domestic and international investors. Source- PIB
ये चन्द पंक्तियाँ जिसने भी लिखी है
खूब लिखी है :
========================
एक औरत बेटे को जन्म देने के लिये
अपनी सुन्दरता त्याग देती है.......
और वही बेटा एक सुन्दर बीवी के लिए
अपनी माँ को त्याग देता है
===========================
जीवन में हर जगह हम "जीत" चाहते हैं...
सिर्फ फूलवाले की दूकान ऐसी है
जहाँ हम कहते हैं कि "हार" चाहिए।
क्योंकि हम भगवान से "जीत"
नहीं सकते।
=============================
धीमें से पढ़े बहुत ही अर्थपूर्ण है यह
मेसेज...
हम और हमारे ईश्वर,
दोनों एक जैसे हैं।
जो रोज़ भूल जाते हैं...
वो हमारी गलतियों को,
हम उसकी मेहरबानियों को।
खूब लिखी है :
========================
एक औरत बेटे को जन्म देने के लिये
अपनी सुन्दरता त्याग देती है.......
और वही बेटा एक सुन्दर बीवी के लिए
अपनी माँ को त्याग देता है
===========================
जीवन में हर जगह हम "जीत" चाहते हैं...
सिर्फ फूलवाले की दूकान ऐसी है
जहाँ हम कहते हैं कि "हार" चाहिए।
क्योंकि हम भगवान से "जीत"
नहीं सकते।
=============================
धीमें से पढ़े बहुत ही अर्थपूर्ण है यह
मेसेज...
हम और हमारे ईश्वर,
दोनों एक जैसे हैं।
जो रोज़ भूल जाते हैं...
वो हमारी गलतियों को,
हम उसकी मेहरबानियों को।
===========================
एक सुविचार
वक़्त का पता नहीं चलता अपनों के
साथ.....
पर अपनों का पता चलता है, वक़्त के
साथ...
वक़्त नहीं बदलता अपनों के साथ,
पर अपने ज़रूर बदल जाते हैं वक़्त के
साथ...!!!
=============================
ज़िन्दगी पल-पल ढलती है,
जैसे रेत मुट्ठी से फिसलती है...
शिकवे कितने भी हो हर पल,
फिर भी हँसते रहना...क्योंकि ये
ज़िन्दगी जैसी भी है,
बस एक ही बार मिलती है।
एक सुविचार
वक़्त का पता नहीं चलता अपनों के
साथ.....
पर अपनों का पता चलता है, वक़्त के
साथ...
वक़्त नहीं बदलता अपनों के साथ,
पर अपने ज़रूर बदल जाते हैं वक़्त के
साथ...!!!
=============================
ज़िन्दगी पल-पल ढलती है,
जैसे रेत मुट्ठी से फिसलती है...
शिकवे कितने भी हो हर पल,
फिर भी हँसते रहना...क्योंकि ये
ज़िन्दगी जैसी भी है,
बस एक ही बार मिलती है।
===========================
जाता है और भगवान बन जाता है ..
इंसान हर रोज़ मंदिर जाते है फिर
भी पथ्थर ही रहते है ..!!
No penalty if value of excess stock found during survey had been surrendered by assessee and accepted by revenue
November 17, 2014[2014] 50 taxmann.com 93 (Indore - Trib.)/[2014] 160 TTJ 35 (Indore - Trib.)
IT : No penalty could be levied under section 271(1)(c) with respect to old stock accumulated over years, value of which was surrendered by assessee during current year and accepted by Assessing Officer; no penalty on account of valuation difference when quantity of stock remained same
BANGALORE, NOV 18, 2014: THE issue before the Bench is - Whether when each beneficiary contributes money to the assessee-Trust for earning higher returns, it can be said that the beneficiaries have come together to form an AOP for the purpose of Income Tax. NO is the Tribunal's answer.
Facts of the case
The assessee is a trust constituted under an instrument for investing the funds of the contributors in those fields where the returns are high. It had filed its return as an AOP, declaring NIL income. During assessment proceedings, the AO taxed the income of the assessee at maximum marginal rate, holding the assessee as an AOP, on the fact that the assessee had obtained the PAN under the status of AOP and had also filed the return in the same status. The AO further observed that assessee was not to be considered as representative assessee because from the perusal of the trust deed the shares of the beneficiaries did not emerge and hence in view of the provisions of section 164(1), the assessee was assessable as an AOP at maximum marginal rate but the CIT(A), on appeal, held that assessee was not assessable at maximum marginal rate merely because it has obtained PAN under the status of AOP.
On appeal, the Tribunal held that,
++ in the light of the aforesaid clauses in the contribution agreement, can it be said that transfer of funds by the beneficiary to the trust/fund is a revocable transfer. We hold that Sec.61 read with Sec.63 of the Act which mandates that income arising to any person by virtue of a revocable transfer of assets shall be chargeable to income tax as income of the transferor will apply to the facts and circumstances of the present case and therefore the assessment in the hands of the transferee/representative assessee was not proper;
++ the general rule as laid down in Sec. 161(1) is that income received by a trustee on behalf of the beneficiary shall be assessed in the hands of the trustee as representative assessee and such assessment shall be made and the tax thereon shall be levied upon and be recovered from the representative assessee "in like manner and to the same extent as it would be leviable upon the recoverable from the person represented by him". To the above rule, however, three exceptions have been incorporated in the Act;
++ in the present case the AO has not invoked the provisions of Sec.161(1A) of the Act or the proviso to Sec.164(1) of the Act and therefore, we need not examine those provisions. As far as identification of individual shares of the Sec.164(1) of the Act will not get attracted for the reason that the beneficiaries are not identifiable;
++ the question for our consideration therefore is regarding applicability of Sec.164(1) of the Act. There are two aspects to be noticed in the above provisions. The first aspect is the identification of the beneficiaries. The second aspect is with regard to ascertainment of the share of the beneficiaries;
++ on the aspect of identification of the beneficiaries, it is the plea of the counsel for the Assessee that so long as the trust deed gives the details of the beneficiaries and the description of the person who is to be benefited, the beneficiaries cannot be said to be uncertain. CBDT Circular No.281 dated 22.9.1980 wherein the CBDT has explained the scope of Sec.164 with regard to stating the name of the beneficiaries in the trust deed. In the said circular the provisions of Expln.-1 to Sec.164 of the Act regarding identification of beneficiaries has been explained to the effect that for identification of beneficiaries it is not necessary that the beneficiary in the relevant previous year should be actually named in the order of the Court or the instrument of trust or wakf deed, all that is necessary is that the beneficiary should be identifiable with reference to the order of the Court or the instrument of trust or wakf deed on the date of such order, instrument or deed. We find that Clause 1.1.13 of the Trust Deed clearly lays down that beneficiaries means the Persons, each of whom have made or agreed to make contributions to the Trust in accordance with the Contribution Agreement. We are of the view that the above clause is sufficient to identify the beneficiaries;
++ trust deed clearly specifies the manner in which the income of the Assessee is to be distributed. The said clause details formula with respect to the share of each beneficiary. As rightly contended on behalf of the Assessee it is not the requirement of law that trust deed should actually prescribe the percentage share of the beneficiary in order for the trust to be determinate. It is enough if the shares are capable of being determined based on the provisions of the trust deed. In the case of the Assessee the trustee have no discretion to decide the share of each beneficiary and are bound by the provisions of the trust deed and is duty bound to follow the distribution mechanism specified in the trust deed;
++ the persons as well as the shares must be capable of being definitely pin-pointed and ascertained on the date of the trust deed itself without leaving these to be decided upon at a future date by a person other than the author either at his discretion or in a manner not envisaged in the trust deed. Even if the Trust deed authorises addition of further contributors to the trust at different points of time, in addition to initial contributors, than the same would not make the beneficiaries unknown or their share indeterminate. Even if the scheme of computation of income of beneficiaries is complicated, it is not possible to say that the share income of the beneficiaries cannot be determined or known from the trust deed. In view of the aforesaid decision of the AAR, with which we respectfully agree, we hold that the provisions of Sec.164(1) of the Act would not be attracted in the present case;
++ the beneficiaries contributed their money to the Assessee and a separate agreement was entered into between the Assessee and each beneficiary. There is no inter se arrangement between one contributory/ beneficiary and the other contributory/beneficiary as each of them enter into separate contribution arrangement with the Assessee. Therefore it cannot be said that two or more beneficiaries joined in a common purpose or common action and therefore the tests for considering the Assessee as AOP was satisfied. The beneficiaries have not set up the Trust. Therefore it cannot be said that the beneficiaries have come together with the object of carrying on investment in mezzanine funds which is the object of the trust. The beneficiaries are mere recipients of the income earned by the trust. They cannot therefore be regarded as an AOP;
++ another reason assigned by the AO for treating the status of the Assessee as AOP was that in the return of income filed by the Assessee the status was shown in return of income. In this regard it is not in dispute before us that the form of return of income as it existed for the relevant assessment year did not contain a clause for filing return of income by a "Trust" in the status other than AOP. The CBDT realised this difficulty faced by 'private discretionary trusts' having total income exceeding ten lakh rupees facing problem in filing their return of income electronically in cases where they are filing their return in the status of an individual because status of a private discretionary trust has been held in law as that of an 'individual' gave instructions in Circular No.6/2012 dated 3.8.2012 to the effect that it will not be mandatory for 'private discretionary trusts', if its total income exceeds ten lakh rupees, to electronically furnish the return of income for assessment year 2012-13. Form No.49A which was the prescribed form of application for allotment of Permanent Account Number (PAN) also did not contain a separate status "Trust" but contained a column "AOP (Trust)". The revised Form No.49A later notified contains a column for status as "Trust". Therefore the argument of the revenue that all "Trusts" are AOPs is not correct. If the contention of the Revenue as raised in Ground No.9 is accepted than the provisions of Sec.161(1) of the Act would become redundant.
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