Tax on professions cannot be levied by the union government in India.
1. India's military expenditure grew around 8.5 percent in 2016, making it the world's fifth largest spender at $55.9 billion, figures released by the Stockholm International Peace Research Institute (SIPRI).
2. As per the figures, the US remains the world's largest military spender registering a growth of 1.7 percent between 2015 and 2016 to $611 billion.
3. China is second and Russia is on the third position in the list.
At present in 2017, there are only seven NPS fund managers viz. HDFC Pension Fund, ICICI Prudential Pension, Kotak Pension Fund, LIC Pension Fund, Reliance Capital Pension, SBI Pension Fund and UTI Retirement Solutions.
The single-step income statement emphasizes
1. total revenues and total expenses.
2. Revenues
3. Expenses
4. Net income
The primary advantage of the single step fromat lies in its simple presentation and the absence of any implication that one type of revenue or expense item has priority over another.
India ranked low 103rd out of 130 countries surveyed on World Economic Forum?s (WEF) Global Human Capital Index (GHCI) 2017. In the previous edition India ranked 105th.
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