Terms of the day

CII: Confederation of Indian Industry
PMEAC: Prime Minister's Economic Advisory Council
CVC: Central Vigilance Commission
NCTC: National Counter Terrorism Centre
DTC: Direct Taxes Code
IOC: International Olympic Council
CSO: Central Statistics Office
CPI: Consumer Price Index
IRDA: Insurance Regulatory and Development Authority
SAT – Securities Appellate Tribunal

IFRS – International Financial Reporting Standards

RCI – Research Centre Imarat ( a key laboratory of DRDO)

IARI – Indian Agricultural Research Institute

Today's who's who

Union Law Minister: Salman Khurshid
Union Telecom and HRD minister: Kapil Sipal
Union Railways minister: Dinesh Trivedi
Union Home minister: P Chidambaram
Odisha Chief Minister: Naveen Patnaik
IRDA Chairman: J Hari Narayan
Information Commissioner – Sushma Singh

National Security Advisor – Shiv Shankar Menon

RCI(Research Centre Imarat) Director – S.K Chaudhuri

No I-T returns for salary up to 5L

Salaried Employees earning up to Rs 5 lakh a year will not be required to file income tax returns from this year, the finance ministry has said.