What is EMPLOYEES PROVIDENT FUND ORGANISATION (EPFO)?

EPFO is a Statutory Body under Ministry of Labour & Employment, Government of India. It is the largest Social Security Organisation. It administers a compulsory contributory Provident Fund Scheme, Pension Scheme and an Insurance Scheme for the workforce engaged in the organized sector. It is one of the largest social security organisations in the India in terms of the number of covered beneficiaries and the volume of financial transactions undertaken. Mission EPFOs mission is to extend the reach and quality of publicly managed old-age income security programs through consistent and ever-improving standards of compliance and benefit delivery in a manner that wins the approval and confidence of members by fairness, honesty and integrity, thereby contributing to the economic and social well-being of members. Double taxation Avoidance Agreement (DTAA) What is Double Taxation? Double taxation is the levying of tax by two or more jurisdictions on the same declared income (in the case of income taxes), asset (in the case of capital taxes), or financial transaction (in the case of sales taxes). This double liability is often mitigated by tax treaties between countries. What is Double Tax Avoidance Agreement (DTAA)? DTAA also referred as Tax Treaty is a bilateral economic agreement between two nations that aims to avoid or eliminate double taxation of the same income in two countries. DTAA provides that business profits will be taxable in the source country if the activities of an enterprise constitute a permanent establishment (PE) Advantages: Deals with the black money menace Provides solutions to avoid double taxation of same income The agreements generally provide for other matters of common interest of the two countries such as exchange of information, mutual assistance procedure for resolution of disputes and for mutual assistance in effecting recovery of taxes It will provide tax stability to the residents of both the countries. RUSA, a way to fund more institutions RashtriyaUchchatarShikshaAbhiyan (RUSA), the national higher education mission, is a way to provide funding to larger number of institutions. The funding will be based on performance indicators relevant to students, faculty, and research. This would benefit those institutions which did not fall within the mandate for funding by the University Grants Commission (UGC).

Out of the Rs. 50,000 crore that was allotted for higher education, UGC would get Rs. 25,000 crore and RUSA would get the other half. RUSA would be spread over two plan periods the XII and XIII and is seen as a new approach to bring into its fold many institutions for funding purposes. PDPR REPORTS According to the Pneumonia and Diarrhoea Progress Report (PDPR) 2013, India loses four lakh children to pneumonia, diarrhoea before they turn five. Many Indian children do not have access to life-saving treatment and prevention measures. Pneumonia and Diarrhoea continue to be the leading killers of children under 5 worldwide. According to the latest estimates by the United Nations Childrens Fund, pneumonia and diarrhoea together claimed the lives of more than 1.7 million children below five years in 2012 alone. In 2013, WHO and UNICEF have developed the Integrated Global Action Plan for Prevention and Control of Pneumonia and Diarrhoea (GAPPD), outlining key universal interventions, with the goal of ending mortality in children by 2025. Accordingly, GAPPD set forth coverage targets of 90% for vaccinations, and for access to pneumonia and diarrhoea treatment, and 50% for exclusive breastfeeding of children during their first six months. GPS Aided GEO Augmented Navigation (GAGAN): GAGAN is a Satellite Based Augmentation System (SBAS) implemented jointly with Airport Authority of India (AAI). The main objectives of GAGAN areto provide Satellite-based Navigation services with accuracy and integrity required for civil aviation applications and to provide better Air Traffic Management over Indian Airspace. The system will be interoperable with other international SBAS systems and provide seamless navigation across regional boundaries. The first GAGAN navigation payload was flown on GSAT-8 which was launched on May 21, 2011 and the second on GSAT-10 launched on Sep 29, 2012. Capital gain Tax? A type of tax levied on capital gains incurred by individuals and corporations. Capital gains are the profits that an investor realizes when he or she sells the capital asset for a price that is higher than the purchase price. Capital gains taxes are only triggered when an asset is realized, not while it is held by an investor. An investor can own shares that appreciate every year, but the investor does not incur a capital gains tax on the shares until they are sold. The most common capital gains are realized from the sale of property, stocks, bonds, precious metals/paintings or any asset (movable/immovable) worth its value. If the assets are sold after three years of purchase, the resultant gains known as Long-term gains are taxable at a fixed rate of 20% or if the time period is below 3 years then its known as Short -term gain Capital tax based on Income tax slab.

Not all countries implement a capital gains tax and most have different rates of taxation for individuals and corporations. It is important to note that it is net capital gains that are subject to tax because if an investor sells two stocks during the year, one for a profit and an equal one for a loss, the amount of the capital loss incurred on the losing investment will counteract the capital gains from the winning investment. Assisted reproductive technology (ART): Assisted reproductive technologies (ART) are methods used to achieve pregnancy by artificial or partially artificial means. It is reproductive technology used primarily for infertility treatments, and is also known as fertility treatment. Some forms of ART are also used with regard to fertile Couples for genetic reasons (pre-implantation genetic diagnosis). ART is also used for couples who are discordant for certain communicable diseases; for example, AIDS to reduce the risk of infection when a pregnancy is desired. Examples of ART include in vitro fertilization, intracytoplasmic sperm injection (ICSI), cryopreservation and intra-uterine insemination (IUI). There is yet no strict definition of the term ART; its usage mainly belongs to the field of reproductive endocrinology and infertility. ULIPs (unit-linked insurance plan) A Unit Linked Insurance Plan (ULIP) is a product offered by insurance companies that unlike a pure insurance policy gives investors the benefits of both insurance and investment under a single integrated plan A ULIP is basically a combination of insurance as well as investment. A part of the premium paid is utilized to provide insurance cover to the policy holder while the remaining portion is invested in various equity and debt schemes. The money collected by the insurance provider is utilized to form a pool of fund that is used to invest in various markets instruments (debt and equity) in varying proportions just the way it is done for mutual funds. Policy holders have the option of selecting the type of funds (debt or equity) or a mix of both based on their investment need and appetite.