Quick Revision

Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020

●Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020•The Ordinance brings into effect various tax compliance related measures announced on March 24, 2020 in the wake of COVID-19 pandemic.•The government has extended the deadline for filing income tax, last dates for making investments in instruments such as National Savings Certificates, Public Provident Fund for […]

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coronavirus cases in Tablighi Jamaat

●Tablighi Jamaat•Literally, it means a society for spreading the faith•It is an Islamic missionary movement that focuses on urging Muslims to return to practising their religion as it was practised during the lifetime of the Islamic prophet Muhammad, and particularly in matters of ritual, dress and personal behaviour.•It has significant base in various countries including […]

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Ways and Means Advance (WMA) scheme

●Ways and Means Advance (WMA) scheme•It was introduced in 1997 to meet mismatches in the receipts and payments of the government.•The government can avail of immediate cash from the RBI, if required. [But it has to return the amount within 90 days. Interest is charged at the existing repo rate]▪️Recently, the Government has hiked Ways […]

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United States declared Covid-19 an orphan disease

●United States declared Covid-19 an orphan disease• Recently, United States Food and Drug Administration (FDA) declared Covid-19 an orphan disease, or a rare disease▪️Orphan Drug Act, 1983•Rare diseases became to known as orphan diseases because drug companies were not interested in adopting them to develop treatments•The Act allows seven years of market exclusivity and financial […]

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Daily Quick Revision 1 April 2020

Portable UltraViolet (UV) sanitiser: developed by IIT-B •It can sterilise wallets, purses and other small items that are passed on from hand to hand.•The UV sanitiser has been made using stainless steel kitchen containers and aluminium mesh and is in the proof-of-concept stage right now•It can kill germs and bacteria without you having to use […]

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