We4u IAS

  Double Taxation Avoidance Agreement (DTAA) ·        The Double Taxation Avoidance Agreement or DTAA is a tax treaty signed between India and another country ( or any two/multiple countries) so that taxpayers can avoid paying double taxes on their income earned from the source country as well as the residence country. ·        At present, India has double tax avoidance treaties with more than 80 countries around the world. ·        The need for DTAA arises out of the imbalance in tax collection on global income of individuals. ·        If a person aims to do business in a foreign country, he/she may end up paying income taxes in both cases, i.e. the country where the income is earned and the country where the individual holds his/her citizenship or residence. ·        For instance, if you are moving to a different country fro...

  Volcanic Vortex Ring Why In News: ·        Volcanic Vortex Rings (VVR) observed from the Mount Etna Volcanic Vortex Rings: ·        Also known as – Volcanic Smoke Rings ·        Formation – Generated when gas, predominantly water vapor, is released rapidly through a vent in the volcanic crater. ·        The rings can remain in the air for up to 10 minutes, but tend to disintegrate quickly if conditions are windy and turbulent. Mount Etna ·        It is sometimes referred to simply as Etna, is an active volcano on the east coast of Sicily, the largest island in the Mediterranean Sea. ·        Etna’s peak is the highest in Italy south of the Alps, and it is Europe’s largest and one of the most active volcanoes. ·        Etna’s summit has five craters, which ar...

  Colombia ·        Its a country of northwestern South America. ·        Its 1of coast to the north are bathed by the waters of the Caribbean Sea, and west are washed by the Pacific Ocean. ·        The country is bordered by Panama, which divides the two bodies of water, on the northwest, by Venezuela and Brazil on the east, and by Peru and Ecuador on the south. ·        It is more than twice the size of France and includes the San Andrés y Providencia archipelago, located off the Nicaraguan coast in the Caribbean, northwest of the Colombian mainland. The population is largely concentrated in the mountainous interior, where Bogotá, the national capital, is situated on a high plateau in the northern Andes Mountains. ·        The only American nation that is named for Christopher Columbus, the “discoverer” of the New World, Col...

  Eurasian Otter ·        The Eurasian otter (Lutra lutra) is a semiaquatic mammal native to Eurasia and Maghreb. ·        The most widely distributed member of the otter subfamily (Lutrinae) of the weasel family (Mustelidae), it is found in the waterways and coasts of Europe, many parts of Asia, and parts of northern Africa. The Eurasian otter has a diet mainly of fish, and is strongly territorial. ·        It is endangered in some parts of its range, but is recovering in others. ·        It is usually nocturnal and can be found in many freshwater environments. In some environments, however, such as the Scottish Isles, it has diurnal habits and forages in the sea, later looking for freshwater pools to wash the salt out of its pelt. ·        The Eurasian otter is solitary, but sometimes it is seen in family groups, composed of...

  Soil acidification ·        It is the buildup of hydrogen cations, which reduces the soil pH. Chemically, this happens when a proton donor gets added to the soil. ·        The donor can be an acid, such as nitric acid, sulfuric acid, or carbonic acid. It can also be a compound such as aluminium sulfate, which reacts in the soil to release protons. ·        Acidification also occurs when base cations such as calcium, magnesium, potassium and sodium are leached from the soil. Causes of soil acidity ·        Soil acidification naturally occurs as lichens and algae begin to break down rock surfaces. Acids continue with this dissolution as soil develops. ·        With time and weathering, soils become more acidic in natural ecosystems. Soil acidification rates can vary, and increase with certain factors such as acid rain, agriculture, an...

  Urban Cooperative Banks ·        The term Urban Co-operative Banks (UCBs) refers to primary cooperative banks located in urban and semi-urban areas. Until 1996, these banks were only permitted to lend money for non-agricultural purposes. ·        This distinction is no longer valid today. Traditionally, these banks were centred on communities, localities, and workplace groups. They primarily gave loans to small borrowers and businesses. Their scope of operations has expanded significantly since then. Significance of Cooperative Banks in Urban Areas ·        Cooperative banks in cities have been around for longer than a century and are primarily concerned with serving their own communities as providers of financial services. ·        Their area of expertise is providing services to customers who fall into the lower middle class and have little resources, ...

  Ashwagandha • it is an evergreen shrub that grows in Asia and Africa.  • It is commonly used for stress.  • Ashwagandha contains chemicals that might help calm the brain, reduce swelling, lower blood pressure, and alter the immune system. • Ashwagandha  Sanskrit for “smell of the horse,” which refers to Trusted Source both the herb’s scent and its potential ability to increase strength. • Its botanical name is Withania somnifera, and it’s also known by several other names, including “Indian ginseng” and “winter cherry.”

  Lake Kariba ·        it is the world's largest artificial lake and reservoir by volume. ·        It lies 1,300 kilometres upstream from the Indian Ocean, along the border between Zambia and Zimbabwe. ·        Lake Kariba was filled between 1958 and 1963 following the completion of the Kariba Dam at its northeastern end, flooding the Kariba Gorge on the Zambezi River. ·        The Zimbabwean town of Kariba was built for construction workers on the lake's dam, while some other settlements such as Binga village and Mlibizi in Zimbabwe and Siavonga and Sinazongwe in Zambia have grown up to house people displaced by the rising waters.

  Chagas disease (also known as American trypanosomiasis) Key facts ·        About 6–7 million people worldwide, mostly in Latin America, are estimated to be infected with Trypanosoma cruzi, the parasite that causes Chagas disease. ·        It can be transmitted by the triatomine bug (vector-borne), as well as orally (food-borne), during pregnancy or birth (congenital), through blood/blood products, organ transplantation and laboratory accidents. ·        Chagas disease is curable if antiparasitic treatment is initiated early, in the acute phase. In chronic infection, the treatment and follow up can potentially prevent or curb disease progression and prevent transmission, for instance, during pregnancy and birth. ·        Up to a third of people with chronic infection develop cardiac alterations and 1 in 10 develop digestive, neurological or mixed alterati...

  Inheritance Tax Why in news? Oxfam report says that 70% of countries don't have any form of inheritance tax on wealth. What is Inheritance Tax? ·        This tax is imposed on those those who inherit assets from a deceased person. The rate of this tax depends on the value of the property received by the heir and his relationship to the decedent. This tax is a form of death tax. Status of inheritance tax in India – ·        In India, the concept of levying tax on inheritance does not exist now. ·        The Inheritance or Estate Tax was abolished with effect from 1985. ·        In the event of death of an individual, properties belonging to the deceased would pass on to his legal heirs, a transfer without any consideration in return. ·        Hence, it could qualify as a gift for the purpose of income tax. · ...

  METEOR Why In News: Ø   Over the weekend, a dazzling comet fragment illuminated the skies across parts of Spain and Portugal, providing astronomers with a rare display. Ø   Comets are small solar bodies primarily composed of ice. They follow elliptical orbits around the Sun. They are known for their distinctive appearance and unpredictable appearances in the night sky. Composition:  Ø   At the heart of a comet is a solid core called the nucleus, primarily composed of water ice, frozen gasses, dust, and rocky material. Ø   This nucleus can vary in size from a few kilometers to tens of kilometers in diameter. Coma: Ø   As a comet approaches the Sun, the heat causes the nucleus to release gas and dust, forming a glowing cloud around the nucleus called the coma. Ø   The coma can expand to many thousands of kilometers in size. Tails: Ø   Comets are famous for their tails, which are composed of gas and dust particles pushed away...

  FWD-200B unmanned aircraft Why In News: Flying Wedge Defence, a defence and aerospace technology firm unveiled the FWD-200B unmanned aircraft. The firm claimed that it is India’s first indigenous bomber unmanned aircraft. About FWD-200B: §      It is an indigenous military grade bomber unmanned aerial vehicle (UAV). §      It is India’s first indigenous unmanned bomber aircraft. §      It is designed and manufactured by Flying Wedge Defence and Aerospace Technologies, an Indian defence and aerospace company. §      It has a payload capacity of 100 kg and is classified as a MALE(medium-altitude, long-endurance) Unmanned Combat Aerial Vehicle. §      The Unmanned Aerial System (UAS) consists of optical surveillance payloads and is integrated with missile-like weapons for precision air strikes. §      It has a maximum speed of 370 kmph (200 knots)...