Rs. 2,490 cr: Tax-exempted income of parties in 5 years

In the last 5 years the tax-exempted income of the 10 main political parties has reached Rs. 2,490 crore.

Section 13A of IT Act 1961 exempts political parties from tax on their income. However, they have to maintain a book of account for donations or income above Rs. 20,000.

Some not so useful facts (Just for reading):

Researcher solves Sandy Island mystery (A Phantom Island)

Phantom Islands mystery resolved.

The mystery behind the missing of the Sandy Island in the South Pacific, displayed on the world maps as well as Google Earth but did not really exist, has been claimed to be solved by a researcher. A researcher at Auckland Museum after his investigations claimed that the island had never existed.

Origin of the error: The error first crept in 1879, when Australian maritime directory showed the island. These were reported by the masters of a whaling ship from the year 1876.

Where was it shown on the map?

The landmass in Coral Sea which is shown as the Sandy Island on Google maps as well as Google Earth is apparently somewhere b/w Australia and New Caledonia. The island has now been removed from the maps.

Related News: (What are Phantom Islands?)

http://currentaffairs.gktoday.com/2012/11/sandy-island-a-pacific-island-shown-on-world-map-does-not-exist-scientists-3268/

Month:  Categories: InternationalPlaces in News
Tags: