Finance news

Finance Bill 2023 – Amendments Proposed in Lok Sabha

List No. 1* LOK SABHA THE FINANCE BILL, 2023 (As introduced in Lok Sabha) Notice of Amendments *The President has in pursuance of clauses (1) and (3) of article 117 and clause (1) of article 274 of the Constitution recommended to Lok Sabha the moving of the amendments. Sl. No. Name of Member and text […]...

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CBDT’s selects 68,000 cases from FY 2019-20 for e-Verification

13/03/2023

On a pilot basis, in about 68,000 cases, information of financial transactions pertaining to FY 2019-20 has been taken up for e-Verification. Details of the transactions have been initially shared with the individual taxpayer through e-campaign. So far, e-Verification has been completed by the designated Directorate in approximately 35,...

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Gross Direct Tax collections for FY 2022-23; 22.58% higher Y-o-Y till 10.03.2023

Direct Tax collections up to 10th March, 2023 show that gross collections are at Rs. 16.68 lakh crore which is 22.58% higher than the gross collections for the corresponding period of last year....

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FAQs on Guidance framework on Sustainable & Sustainability linked lending by Financial Institutions

(FAQs) On Guidance framework on Sustainable and Sustainability linked lending by Financial Institutions (SL Framework) dated April 26, 2022...

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FAQs on Milestones & Illustrative Permissible Expenses For Reimbursement Under IFSCA (FinTech Incentive) Scheme, 2022

FAQs guides applicants with regard to milestones to be achieved & reimbursement of sanctioned grant amount under IFSCA (FinTech Incentive) Scheme, 2022....

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Crypto Assets require international collaboration to prevent regulatory arbitrage

Crypto Assets are borderless, require international collaboration to prevent regulatory arbitrage Under PMLA, Rs. 936 crore related to crypto currency is attached/seized/freezed by ED as on 31.01.2023 Crypto Assets are by definition borderless and require international collaboration to prevent regulatory arbitrage. This was stated by the ...

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Physical and Digital Infrastructure: Lifting Potential Growth

The invention of the wheel set in motion the necessity of travelable paths, and since then the saga of infrastructure has expanded from canals to modern capital structures such as railways, roads etc. depending on the necessities of the region. In the last 75 years in India since Independence, infrastructure development has moved on a [&h...

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External Sector: Watchful And Hopeful – Economic Survey

India’s external sector has been buffeted by shocks and uncertainty manifested in terms of elevated, though now easing global commodity prices; tightening international financial conditions; heightening financial market volatility; reversal of capital flows; currency depreciation, and looming global growth and trade slowdown. However, i...

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Services: Source of Strength for Indian Economy

India’s services sector witnessed a swift rebound in FY22 driven by growth in the contact-intensive services sub-sector, which bore the maximum burden of the pandemic. This sub-sector completely recovered from the pre-pandemic level in Q2 of FY23, driven by the release of pent-up demand, ease of mobility restriction, and near-universal ...

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Industry: Steady Recovery – Economic Survey

The industry holds a prominent position in the Indian economy contributing about 30 percent of total gross value added in the country. In FY23, the Indian industry faced some extraordinary challenges as the Russian-Ukraine conflict broke out. That led to a sharp rise in the prices of many commodities. Prices of edible oil, crude oil, [&he...

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