What is it? People who have responded online to Income Tax department’s request for e-verification and explanation of deposits after demonetisation.
Why is it important? As the IT department gears up to mine data gathered after demonetisation with sophisticated data analytics to unearth tax evaders, some from the first wave of online respondents have even agreed to pay tax arrears. The IT department has been trying hard to allay fears of undue persecution by first resorting to online queries for 1.8 million depositors, so that the honest taxpayer can explain deposits without bearing the brunt of an IT notice.
Tell me more: So far 200,000 people who had received the IT clarification request online have logged in. Before demonetisation, the IT department had sent 60,000 notices for large dubious non-Pan card transactions in September even as the – for tax compliance was going on.
What is it? Number of Grammy awards that British artist Adele won for her album ‘25’ in 2017.
Why is it important? In the world’s most prestigious music awards, the 28-year-old Adele became the first ever to win twice the top three coveted categories of album, record and song of the year, this time for her album and the ballad, “Hello”. She had won in 2012 for her album ‘21’. She also won Best Pop Solo Performance and Pop Vocal Album this year.
Tell me more: She beat Beyonce, who led with nine nominations for her influential album, ‘Lemonade’, on racism and feminism, but acknowledged the artist in her acceptance speech.
33,000 feet/10 km
What is it? The depth of the trenches in the Pacific Ocean where organisms were found with high levels of man-made pollutants, according to a report in the journal Nature Ecology and Evolution.
Why is it important? Man-made pollution has not spared even the deep sea. Shrimp-like tiny amphipods, Hirondellea gigas, were found in two of the ocean’s deepest trenches that were still 7,000-km apart, to contain polychlorinated biphenyls (PCBs) and polybrominated diphenyl ethers (PBDEs), commonly used as electrical insulators and flame retardants.
Tell me more: Pollutants were found in every single sample, regardless of depth, regardless of species, according to the report’s lead author. He likened the contamination levels to that of Japan’s Suruga Bay, one of the most polluted northwest Pacific industrial zones. Given the sampled creatures are voracious scavengers feeding off any debris floating down to the depths, the concentration could be from contaminated fish remains and accumulation on sea-beds.
What is it? Retail inflation in January 2017.
Why is it important? It is the lowest in the last five years, driven primarily by slowing of rise in food prices. Food inflation was 0.53% in January, compared to 1.37% in December. Core inflation (comprising of non-food, non-fuel items) however was the highest since October 2014, which likely prompted the Reserve Bank to maintain its benchmark interest rates in the recent monetary policy review.
Tell me more: Among the states, Jammu and Kashmir recorded the highest annual inflation for the month at 7.01%, followed by Delhi (6.32%) and Himachal Pradesh (5.92%).
What is it? The number of judges who will be delivering their judgement on the disproportionate wealth case against VK Sasikala, Tamil Nadu’s ruling party AIADMK’s general secretary.
Why is it important? A split verdict by the Supreme Court would extend the political tension in the state, even as fight the between O Panneerselvam the state’s chief minister and VK Sasikala who wants to occupy that chair intensifies. If the court rules against Sasikala, that is, if declines to uphold the earlier High Court acquittal of AIADMK chief, it would strengthen the hands of Panneerselvam, who by many accounts, has the support of voters, but not (at least, explicit) support of party MLAs.
Tell me more: The two judges P C Ghose and Amitava Roy are expected to deliver separate judgements on Tuesday. If there is a split verdict, the case will move to a third judge.