09 May 2020: PIB Summary & Analysis

May 9th, 2020 PIB:- Download PDF Here

TABLE OF CONTENTS

1. Gopal Krishna Gokhale 
2. Maharana Pratap
3. Clarification in respect of residency under section 6 of the Income-tax Act, 1961

1. Gopal Krishna Gokhale

What’s in News?

PM pays tributes to Gopal Krishna Gokhale on his birth anniversary.

Details:

• Gopal Krishna Gokhale was born on 9 May 1866 in Kotluk village in present-day Maharashtra (then part of the Bombay Presidency) in a Brahmin family. 
• A renowned social reformer of India, Gopal Krishna Gokhale was one of the leaders of the moderate bloc of the Indian National Congress. 
• He was known to be the Mahatma Gandhi’s political mentor. 
• In 1905, he was elected president of the Indian National Congress (Benares Session). 
• In 1905, he formed the Servants of India Society in Pune (Maharashtra) to further the expansion of education in India. The Society organised mobile libraries, founded schools, and provided night classes for factory workers. 
• In 1908, he founded the ‘Ranade Institute of Economics’. 
• He launched the English weekly newspaper named The Hitavad (The people’s paper) in 1911.
• Gopal Krishna Gokhale died on 19 February 1915 aged 48.

Read more about Gopal Krishna Gokhale.

2. Maharana Pratap

What’s in News?

PM pays tributes to Maharana Pratap on his Jayanti

Details:

• Maharana Pratap Singh popularly known as “Maharana” was the 13th king of Mewar (the present Rajasthan).
• He was born on May 9, 1540.
• He is known for his bravery in the Battle of Haldighati.
• It was fought in 1576 between Maharana and the forces of Akbar led by Man Singh of Amber. 
• Rana’s forces were defeated in 6 hours. But the Mughals failed to capture him.
• Maharana re-gathered his forces, fought and won against the Mughals after six years in 1582.
• Having faced a terrible defeat, Akbar stopped his military campaigns against Mewar after the battle.

3. Clarification in respect of residency under section 6 of the Income-tax Act, 1961

What’s in News?

The Central Board of Direct Taxes (CBDT) has issued a circular with clarifications for the purposes of determining the residential status under section 6 of the Income-tax Act, 1961 Act during the previous year 2019-20 in respect of an individual who has come to India on a visit before 22nd March, 2020.

Issue:

• Various representations have been received stating that there are a number of individuals who had come on a visit to India during the previous year 2019-20 for a particular duration and intended to leave India before the end of the previous year for maintaining their status as a non-resident or not ordinary resident in India. 
• However, due to the declaration of the lockdown and suspension of international flights owing to the outbreak of Novel Corona Virus (COVID-19), they are required to prolong their stay in India. 
• Concerns have been expressed that they may involuntarily end up becoming Indian residents without any intention to do so.

Details:

• Section 6 of the Income-tax Act, 1961 contains provisions relating to residency of a person. 
• The status of an individual as to whether he is resident in India or a non-resident or not ordinarily resident, is dependent, inter-alia, on the period for which the person is in India during a year.

For Example:

A resident taxpayer is an individual who satisfies one of the following conditions:

• Resides in India for a minimum of 182 days in a year.
• Has resided in India for a minimum of 365 days in the immediately preceding four years. In addition, he must reside in India for a minimum of 60 days in the current financial year.

May 9th, 2020 PIB:- Download PDF Here

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