Tax structure in India - A Brief insight

Tax structure in India - A Brief insight

Tax system in India - A Brief insight

TAXES- 

Taxes are the amount of money government impose on an individual or corporates directly or indirectly so as to generate revenue or to keep in check any black money activities in India.

THERE ARE TWO CATEGORIES OF TAXES IN INDIA, THESE ARE –

DIRECT TAXES-

·         These taxes are levied directly on the presons.

·         These contributes major chunk of the total taxes collected in India.

Some of the direct taxes are-

INCOME TAX-

This is a type of tax levied on the individuals whose income falls under the taxable category (2.5 lakhs per annum). The Indian Income Tax Department is governed by CBDT and is part of the Department of Revenue under the Ministry of Finance, Govt. of India. Income tax is a key source of funds that the government uses to fund its activities and serve the public.

Corporate Income Tax –

This is the tax levied on the profits a corporate house earned in a year. In India, the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year.

Securities Transaction Tax-

Introduced in 2004, STT is levied on the sale and purchase of equities. more clearly, The income a individual generate through the securities market be it through reseling of shares or through debentures is taxed by the government of India and the same tax is called as Securities Transaction Tax.

Banking Cash Transaction Tax -

A bank transaction tax is a tax levied on debit (and/or credit) entries on bank accounts. It can be automatically collected by a central counterparty in the clearing or settlement process.

INDIRECT TAXES-

You go to a super market to buy goods or to a restaurant to have a mouthful there at the time of billing you often see yourself robbed by some more amount than what you enjoyed of , these extra amounts are indirect taxes, which are collected by the intermediaries and when govt tax the income of the intermediaries this extra amount goes in to government’s kitty, hence as the name suggests these are levied indirectly on common people.

Some examples of Indirect Taxes are-

Value Added Tax-

When we pay an extra amount of price for the goods and services we consume or buy, that extra amount of money is called as VAT. This taxes is about to be replaced by Goods and Services Tax.

Current rate-

On agricultural goods-4%

On luxury items- 20%        

Customs Duty –

Customs Duty is a type of indirect tax levied on goods imported into India as well as on goods exported from India. In India, the basic law for levy and collection of customs duty is Customs Act, 1962. It provides for levy and collection of duty on imports and exports.

Excise Duty –

An excise or excise tax is an inland tax on the sale, or production for sale, of specific goods or a tax on a good produced for sale, or sold, within a country or licenses for specific activities. Excises are distinguished from customs duties, which are taxes on import.

Service Tax-

Service Tax is a tax imposed by Government of India on services provided in India. The service provider collects the tax and pays the same to the government. It is charged on all services except the services in the negative list of services.

Current rate- 12.36%

Acronyms Corners-

CBDT- Central Board of Direct Taxes

CBEC- Central Board of Excise and Customs

FBT-   Fringe Benefits Tax

STT-   Securities Transaction Tax

GST-  Goods and Services Tax

VAT-   Value Added Tax

Important Lakes in India

Important Lakes in India

LAKE	STATE
Anantnaag Lake	Jammu and Kashmir
Chilka Lake	Odisha
Dal Lake	Jammu and Kashmir
Hussain Sagar Lake	Andhra Pradesh
Koleru Lake	Andhra Pradesh
Pichola Lake	Rajasthan
Pulicat Lake	Tamil Nadu
Rakastal Lake	Uttarakhand
Sambhar Lake	Udaipur (Rajasthan)
Shesnaag Lake	Jammu and Kashmir
Wular Lake	Jammu and Kashmir
Ulsoor Lake	Bengaluru
Surajkund	Haryana

Important Points on Lakes in India

Largest lake in India	Sambhar Lake (Rajasthan)
Largest salt water lake in India	Sambhar Lake (Rajasthan)
Largest fresh water lake in India	Wular Lake (Jammu and Kashmir)
Largest Coastal Lagoon in India	Chilka Lake (Odisha)
Largest brackish water lake in India	Chilka Lake (Odisha)

Important Points on Lakes of the world

Largest lake in the world	Caspean Sea
Largest fresh water lake in the world	Lake Superior
Largest salt water lake in the world	Dead Sea

FCI Syllabus 2015 with Exam Pattern

Check FCI Syllabus 2015 with Exam Pattern: This page is dedicated to provide you pattern & syllabus of Food Corporation of India 2015 exam. Food Corporation of India is going to conduct written examination for staff in East, West, North, South and North-East zones. Large number of candidates appear for this examination. The selection is to be done through written test and Interview. So as far as the competition is concerned, it is very high. Candidates who want to be placed and get selected, should prepare as per the syllabus of FCI for these posts. Those candidates who are going to appear for this exam, should prepare as per the syllabus prescribed for these posts. Here we are providing the latest FCI Exam Syllabus 2015 to help them perform better.

FCI Syllabus 2015 with Exam pattern

Here is the syllabus of FCI 2015 exam as prescribed by the corporation on its official website. Candidates can check the detailed syllabus of all papers and posts.
FCI Syllabus 2015 for JUNIOR ENGINEER (JE) (CIVIL ENGINEERING / ELECTRICAL ENGINEERING / MECHANICAL ENGINEERING), ASSISTANT GRADE-II (AG II) (HINDI), TYPIST (HINDI) AND ASSISTANT GRADE-III (AG III) (GENERAL / ACCOUNTS / TECHNICAL / DEPOT) posts and East, West, North, South and North-East zones & Paper 1, 2, 3, 4 is given below.
Important Points:
The Written test will comprise of:

• One Paper: Paper-I only for Post Code F {AG-III(General)} and Post Code I {AG-III(Depot)}
• Paper- III only for Post Code E {Typist (Hindi)}.
• Two Papers: Paper I and Paper II for the Post Code A {JUNIOR ENGINEER (CIVIL ENGINEERING)}, Post Code B {JUNIOR ENGINEER (ELECTRICAL ENGINEERING)}, Post Code C {JUNIOR ENGINEER (MECHANICAL ENGINEERING)}, Post Code G {AG-III (Accounts)} & Post Code H {AG-III (Technical)}.
• Paper III and Paper IV for Post Code D {AG II (Hindi)}.
• The Paper-I is common for post code A, B, C, F, G, H and I. Candidates applying for any ONE of the post code A, B, C, G and H will appear in Paper-I to be followed by Paper-II. Candidates applying for Post code D will appear in Paper-III to be followed by Paper-IV.
• Written test for Paper - I & Paper - II and Paper – III & Paper IV shall be held in single sitting only.
• The merit of Written Test for Post Code F and I will be decided on Paper - I and for post code A, B, C, G and H,
• The merit will be decided on Paper - I & post specific Paper - II.
• The Question Papers for Written Test will be bilingual i.e. in English and Hindi.
• Candidates applying for the Post of Typist (Hindi) will need to take Paper - III only for Written Test.
• Candidates applying for AG-II (Hindi) posts will be shortlisted for evaluation of Paper-IV, based on their marks in Paper – III; and Paper - IV of only the short-listed candidates will be evaluated.
• All 120 Multiple Choice Questions in Paper – I, Paper – II & Paper – III will carry equal 01 marks and Paper - IV will comprise of 120 marks.
• Time Duration for All papers is 90 Minutes.

FCI Syllabus Paper-I (Time Allowed-90 Minutes):
120 Multiple Choice Questions of General Aptitude consisting of Reasoning, Data Analysis, English Language, Computer Proficiency, General Awareness, General Intelligence, Current Events, Numerical Ability, Data Interpretation for the Post Code A {Junior Engineer (Civil Engineering)}, B {Junior Engineer (Electrical Engineering)}, C {Junior Engineer (Mechanical Engineering)}, F {AG-III (General)}, G {AG-III (Accounts)}, H{AG - III (Technical)} & I { AG-III (Depot)}.

FCI Syllabus 2015 Paper-II:
i. 120 Multiple Choice Questions on Civil Engineering, Electrical Engineering and Mechanical Engineering for Candidates applying for the Post Code A {Junior Engineer (Civil Engineering)}, Post Code B {Junior Engineer (Electrical Engineering)}, Post Code C {Junior Engineer (Mechanical Engineering)} to assess the post specific technical knowledge of relevant stream.
ii. 120 Multiple Choice Questions on Commerce particularly General Accounting and Finance for candidates applying for the Post Code G {Assistant Grade-III (Accounts)} to assess the post specific technical knowledge of relevant stream.
iii. 120 Multiple Choice Questions on Biological Sciences for candidates applying for the Post Code H {Assistant Grade-III (Technical)} to assess the post specific technical knowledge of relevant stream.

Paper-III:
120 Multiple Choice Questions on General Hindi, General English, General Awareness, General Intelligence and Computer Knowledge for candidates applying for the Post Code D {Assistant Grade-II (Hindi)} and Post Code E {Typist (Hindi)}.

Paper-IV:
Translation - 2 Passages, one each from Hindi to English and vice-versa and two essays each in Hindi & English for candidates applying for the Post Code D {Assistant Grade-II (Hindi)}.

Paper-IV (Time allowed-90 minutes):
Translation – 2 Passages, one each from Hindi to English and vice-versa and two essays each in Hindi & English for Assistant Grade-II (Hindi) post.

Download FCI Syllabus pdf here

Below is Detailed Syllabus of each section based on previous years exam.
Detailed Food Corporation of India Syllabus for all sections
General Intelligence: It would include questions of both verbal and non-verbal type.
This component may include questions on analogies, similarities and differences, space visualization, spatial orientation, problem solving, analysis, judgement, decision making, visual memory, discrimination, observation, relationship concepts, arithmetical reasoning and figural classification, arithmetic number series, non-verbal series, coding and decoding, statement conclusion, syllogistic reasoning etc. The topics are, Semantic Analogy, Symbolic/Number Analogy, Figural Analogy, Semantic Classification, Symbolic/Number Classification, Figural Classification, Semantic Series, Number Series, Figural Series, Problem Solving, Word Building, Coding & de-coding, Numerical Operations, symbolic Operations, Trends, Space Orientation, Space Visualization, Venn Diagrams, Drawing inferences, Punched hole/pattern –folding & un-folding, Figural Pattern – folding and completion, Indexing, Address matching, Date & city matching, Classification of centre codes/roll numbers, Small & Capital letters/numbers coding, decoding and classification, Embedded Figures, Critical thinking, Emotional Intelligence, Social Intelligence, Other sub- topics, if any.

General Awareness: Questions in this component will be aimed at testing the candidates general awareness of the environment around him and its application to society. Questions will also be designed to test knowledge of current events and of such matters of every day observations and experience in their scientific aspect as may be expected of any educated person. The test will also include questions relating to India and its neighbouring countries especially pertaining History, Culture, Geography, Economic Scene, General Polity & Scientific Research.

Quantitative Aptitude: The questions will be designed to test the ability of appropriate use of numbers and number sense of the candidate. The scope of the test will be computation of whole numbers, decimals, fractions and relationships between numbers, Percentage. Ratio
& Proportion, Square roots, Averages, Interest, Profit and Loss, Discount, Partnership Business, Mixture and Alligation, Time and distance, Time & Work, Basic algebraic identities of School Algebra & Elementary surds, Graphs of Linear Equations, Triangle and its various kinds of centres, Congruence and similarity of triangles, Circle and its chords, tangents, angles subtended by chords of a circle, common tangents to two or more circles, Triangle, Quadrilaterals, Regular Polygons , Circle, Right Prism, Right Circular Cone, Right Circular Cylinder, Sphere, Hemispheres, Rectangular Parallelepiped, Regular Right Pyramid with triangular or square base, Trigonometric ratio, Degree and Radian Measures, Standard Identities, Complementary angles, Heights and Distances, Histogram, Frequency polygon, Bar diagram & Pie chart.

English Language: Candidate’s ability to understand correct English, his basic comprehension and writing ability, etc. would be tested.

Quantitative Methods: The questions will be designed to test the ability of appropriate use of numbers and number sense of the candidate. The scope of the test will be the computation of whole numbers, decimals ,fractions and relationships between numbers, Percentage. Ratio & Proportion,Square roots, Averages, Interest, Profit and Loss, Discount, Partnership Business, Mixture and Alligation, Time and distance, Time & Work, Basic algebraic identities of School Algebra & Elementary surds, Graphs of Linear Equations, Triangle and its various kinds of centres, Congruence and similarity of triangles, Circle and its chords, tangents, angles subtended by chords of a circle, common tangents to two or more circles, Triangle, Quadrilaterals, Regular Polygons , Circle, Right Prism, Right Circular Cone, Right Circular Cylinder, Sphere, Hemispheres, Rectangular Parallelepiped, Regular Right Pyramid with triangular or square base, Trigonometric ratio, Degree and Radian Measures, Standard Identities, Complementary angles, Heights and Distances, Histogram, Frequency polygon, Bar diagram & Pie chart.

English Language & Comprehension : Questions in this components will be designed to test the candidate‘s understanding and knowledge of English Language and will be based on spot the error, fill in the blanks, synonyms, antonyms, spelling/detecting mis-spelt words, idioms & phrases, one word substitution, improvement of sentences, active/passive voice of verbs, conversion into direct/indirect narration, shuffling of sentence parts, shuffling of sentences in a passage, close passage & comprehension passage.

Types of Farming in India

Types of Farming in India In India, there are two main agricultural seasons in a year. The Kharif season or the summer season; and The Rabi season or the Winter season.The Kharif season starts in June when the South-West monsoon starts. Seeds are sown in June and July and crops are harvested in September and October. Crops which require large quantities of water are cultivated during the Kharif season. The main Kharif crops are rice, sugar-cane, jute, cotton, tobacco, maize etc. These crops cover 65% of total cultivated area. The Rabi Season starts in the middle of October when the south-west monsoon retreats and the north-east Monsoon begins. Seeds are sown in October and crops are harvested in March and April. Generally, crops which require less water are grown during the rabi season. The main rabi crops are wheat, barley, gram, mustard, linseed etc. These crops require cooler conditions and less moisture Rabi crops account for 33% of cropped area. Dry Farming Dry farming is a system under which farming is carried on in the regions where the rainfall is scanty i.e. less than 50 Cm annually and where irrigation facilities are either absent or very little. It is followed in Gujarat, Rajasthan, South Punjab, Northern Maharashtra; Generally, single-cropping is practised under this system. Under this system, only those crops which can withstand drought conditions, such as Jowar and Bajra are grown. Humid Farming Humid Farming is a system of farming practised in regions where the rainfall is adequate i.e. between 100 Cm to 200 Cm without the help of irrigation. It is followed in the West Coast, West Bengal, Parts of Bihar, U.P and Assam. Under this system, generally, double cropping (i.e. growing of two crops in a year on the same land) is practised. Rice, Sugarcane, jute etc. are cultivated under this system. Irrigation Farming Irrigation farming is a system of farming under which crops are grown with the help of irrigation i.e. supply of water from rivers, reservoirs, tanks, wells to land for cultivation in regions of seasonal or low rainfall. It is followed in Western U.P., Punjab, Haryana, parts of Bihar, Orissa, A.P., Tamil Nadu, Karnataka etc. Under this system, multiple or double cropping is practiced. A large variety of crops, such as rice, sugarcane, cotton, wheat, tobacco etc. are grown under this system. Shifting Cultivation Shifting cultivation means the migratory subsistence farming. Under this system, a plot of land is cultivated for a few years and then, when the crop yield declines because of soil exhaustion and the effects of pests and weeds, is deserted for another area. Here the ground is again cleared by slash-and-burn methods, and the procedure is repeated. Shifting cultivation is predominant in the forest areas of Assam (Known as jhum), Meghalaya, Nagaland, Manipur, Tripura, Mizoram, Arunchal Predesh, Madhya Pradesh, Orissa and Andhra Pradesh (Podu). Rainfed rice, Maize, buck wheat, small millets, root crops and vegetables are grown on the burnt over clearings. Plantation Farming Plantation farming means the cultivation of a single cash crop in plantations or estates (large areas of land) on a large scale. The farming is carried on with the help of technically advanced methods of cultivation and tools. The tea plantations of Assam and West Bengal, coffee plantations of Karnataka, Kerala & Tamil Nadu and rubber plantations of Kerala are the examples of Plantation farming in India. Single, Double and Multiple Cropping Single cropping also known as mono-cropping or mono-culture is a system of farming under which the cultivators grow one crop from the lands during the year. It is generally undertaken in those areas where soil and climatic conditions are most favourable for the production of a particular crop only. Example: Tea, Coffee, etc. Double cropping is a system under which two crops are raised by the farmers from the same plot of land during the year. It is practiced in densely populated countries where soil and climatic conditions favor the cultivation of two crops during the year. Example: Rice. Multiple cropping is a system under which the farmer grown more than two crops from the same plot of land during the year. It is a highly intensive system of farming. For the success of this system, the soils must be cultivated intensively by providing scientific fertilizers, better seeds and regular water supply through irrigation. Example: Cotton, tobacco, vegetables. Arable Farming It is a system under which the farms are used only for the cultivation of crops i.e. food crops and cash crops. Mixed farming is a system under which the lands used not only for the cultivation of crops, but also for other purposes, such as stock-raising, poultry farming, sericulture, bee-keeping etc. Crop Rotation The system of farming by which different crops are alternately grown on the same land in a specific order. Among the advantages of a rotation are the more effective control of weeds, pests & diseases and the more economical utilisation of soil fertility. For example, leguminous crops like pulses are grown alternately with wheat, barley or mustard. Mixed Cropping Mixed cropping means the cultivation of more than one crop simultaneously on the same piece of land. The two crops are sown together but harvested at different times because the growth period of hte plants of the different crop varies. Early maturing crops are mixed with groundnut, cotton or pulses which mature late. The crops are so mixed that soil nutrients removed by some are replaced by others, at least partly.

National Parks in India and Wild Life Sanctuaries

National Parks in India and Wild Life Sanctuaries   Gir Forests Home of Asiatic Lion, In Gujrat Kaziranga Sanctuary One horned rhino, in Asom, Manas Sanctuary One horned rhino, in Asom, Chandraprabha Sanctuary Home of Asiatic Lion, in UP Ghana or Keoladeo Bird Sanctuary In Bharatpur, Home of tiger Dachigam Sanctuary For Hangul, In Kashmir Corbett National Park In Uttarakhand, Home of tiger Kanha National Park In MP Shiv Puri National Park In MP Hazaribagh National Park In Jharkhand Pariyar Game Sanctuary In Kerala Dudhwa National Park In UP Vedanthangal Bird Sanctuary In TN Nokrek National Park In Meghalaya Sariska Sanctuary In Rajasthan Ranthambhor National Park In Rajasthan Namdapha National Park In Arunachal Pradesh Kelbut Lmjo Floating National Park In Manipur Palamau tiger project In Bihar Simlipal National Park In Orrisa Ranganthittoo Bird Sanctuary In Mysur, Karnataka Nagarhore National Park In Karnataka Mudumalai Sanctuary In TN. Balpakaram Sanctuary In Meghalaya Bandipur Sanctuary Along the Karnataka- Tamil Nadu Border Jaldapara Sanctuary In West Bengal. For rthinos Wild Ass Sanctuary In Rann of Kutch, Gujarat, for wild ass.

Chronology of Indian History

Chronology of Indian History

Stone Age	7000 – 3300 BC
Mehrgarh Culture	7000 – 3300 BC
Indus Valley Civilization	3300 – 1700 BC
Late Harappan Culture	1700 – 1300 BC
Vedic Period	1500 – 500 BC
Iron Age Kingdoms	1200 – 700 BC
Maha Janapas	700 – 300 BC
Magha	1700 BC – 550 AD
Maurya Dynasty	321 – 184 BC
Middle Kingdoms	230 BC – 1279 AD
Satavahana Empire	230 BC – 199 AD
Kushan Empire	60 – 240 AD
Gupta Empire	240 – 550 AD
Pala Empire	750 – 1174 AD
Chola Empire	848 – 1279 AD
Islamic Sultanates	1206 – 1596 AD
Delhi Sultanate	1206 – 1526 AD
Deccan Sultanates	1490 – 1596 AD
Hoysala Empire	1040 – 1346 AD
Kakatiya Empire	1083 – 1323 AD
Vijayanagara Empire	1336 – 1565 AD
Mughal Empire	1526 – 1707 AD
Maratha Empire	1674 – 1818 AD
Colonial Era	1757 – 1947 AD
Modern States onwards	1947 onwards