26 September 2013 Current Affairs
Vidit Gujarathi Wins Bronze in World Junior Chess Champion Ship
Nashik-based GM Vidit Gujrathi created history by becoming the first chess player from Maharashtra in the boy’s category to win a medal at World Junior chess championship in Kocaeli, Turkey, on 26 September .With Yu Yangyi winning the gold, the silver went to Alexander Ipatov of Turkey who defeated Aleksander Indjic of Serbia in the final round. With this win Vidit Gujrathi joined the list of elite Indians winning medals in the world junior champions starting from a gold medal won by world champion V Anand in 1987, gold by Harikrishna in 2004, gold by Abhijeet Gupta in 2008 and Bronze by Sahaj Grover in 2011.
Government Notified GAAR
The government of India on 26 September notified the general anti-avoidance rules, or GAAR.It seeks to check tax avoidance by investors routing their funds through tax havens. It will come into effect from 1 April 2016. The GAAR will apply to entities availing tax benefit of at least 3 crore rupees. It will apply to foreign institutional investors, FIIs that have claimed benefits under any Double Tax Avoidance Agreement (DTAA).Investments made by a non-resident by way of offshore derivative instruments or P-Notes through FIIs, will not be covered by the GAAR provisions. The notification said, investments made before 30 August 2010, will not be scrutinised under GAAR.