finance minister

FM releases COVID Relief Package to boost economy: A Liquidity Lifeline

Income Tax - Welcome Announcements by Finance Minister to boost COVID affected sectors: Healthcare, Tourism, Exports, Job Creation In a bid to boost the economy battered by the second wave of COVID-19, Finance Minister Smt. Nirmala Sitharaman, on 28th June, 2021, announced a relief package targeting healthcare, tourism, exports and job creation, among...

Unlocking The Lockdown: Logical Steps Needed

Income Tax - Before the Unlocking starts I have some suggestions for Government, Trade and Citizen. They can be further discussed with all the stakeholders and a well-planned Unlock should be implemented....

Special Cash Package Scheme In Lieu of LTC for Government Employees

Income Tax - 1. The Government vide office memorandum no. F.No. 12(2)/2020—EH(A) dated 12 October 2020 announced the Cash Voucher LTC (Leave Travel Scheme) scheme for Government employees. 2. What is LTC Scheme? The Leave Travel Scheme is assistance received by the employee from his employer for traveling on leave. The employee and family can visit ...

43 Key Highlights of FM press conference dated 26.03.2020

Income Tax - 43 Key Highlights of Finance Minister Smt. Nirmala Sitharaman press conference dated 26.03.2020 1. Government to contribute 12% from the employee and employer side to the PF, for firms having less than 100 employees. Government will contribute 12% from the employer side and 12% from the employee side to PF accounts. This for those firms [...

Important Update by Finance Minister on 24th March 2020

Income Tax - Some Big announcements made by Finance Minister for Compliance and taxation relief. Most awaited relief given. Have a look at it. COVID19 Relief Compliance and Regulation Related Announcements: Income Tax: Last date for Returns for FY 2018-19 extended to 30th June 2020 Delayed Payments made till 30th June – Interest Rate reduced fro...

FM Nirmala Sitharaman Leads 164th Income Tax Day Celebrations in Delhi

Income Tax - Marking the 164th Income Tax Day, Finance Minister Nirmala Sitharaman praises CBDT's efforts in tax administration reforms and ease of compliance....

Multiple steps outlined to prevent operations of Illegal Loan Apps: FM

Income Tax - Finance Minister Smt. Nirmala Sitharaman chairs meeting on Illegal Loan Apps. Multiple steps outlined to prevent operations of such Illegal Loan Apps. Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired a meeting yesterday to discuss the various issues related to ‘Illegal Loan Apps’ outside the r...

India needs 4 -5 more banks like SBI: FM

Income Tax - India needs 4 -5 more banks like SBI to meet changing requirements of the Indian Economy: Nirmala Sitharaman FM says Long Term Future of Indian Banking would be driven by digital processes; Asks IBA to carry out nation-wide digitized mapping of bank branches Sitharaman commends banks for smooth amalgamation Posted On: 26 SEP 2021 : [&hell...

FM laid foundation stone today for office building of I-T Department

Income Tax - Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs laid foundation stone today for office building of Income Tax Department Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs laid foundation stone on 5th September, 2021 for office building of Income Tax Department at plot No....

Properties attached & dues recovered from Fugitives & economic offenders

Income Tax - ED transferred attached assets worth Rs 8441.5 Crore to Public Sector  Banks who suffered loss due to the bank fraud by Vijay Mallya Nirav Modi and Mehul Choksi 1. Vijay Mallya, Nirav Modi and Mehul Choksi have defrauded Public Sector Banks by siphoning off the funds through their companies which resulted in total loss of […]...

Assessee is entitled for depreciation on assets of a closed unit which are part of block of assets

Swati Synthetics Ltd. Vs. ITO (ITAT Mumbai) - The assets did not fall under any of the above exceptional three conditions. The said block of assets was used for the purpose of business during the year. Under the circumstances the assets of the said closed unit amounts to use for the purpose of business in the year under consideration ,...

The National Commission For Allied And Healthcare Professions Act, 2021

No. 14 OF 2021 - (28/03/2021) - (1) This Act may be called the National Commission for Allied and Healthcare Professions Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification, appoint; and different dates may be appointed for different provisions of this Act and any reference in any pr...

4th FAQs on LTC Cash Voucher Scheme

Notification No.12(2)/2020/E-II.A - (10/03/2021) - Whether the full and final settlement of the bills pertaining to LTC Cash Scheme is also to be ensured by 31st March, 2021, without any scope of spill over to the next financial year? As far as possible, the claims should be made and settled well before 31st March, 2021, Ministries/Departments may c...

FM announces measures of Rs 73,000 crore to stimulate consumer spending

Release ID: 1663722 - (12/10/2020) - Finance Minister announces measures of Rs 73,000 crore to stimulate consumer spending before end of this Financial Year in fight against COVID-19. Cash payment and leave encashment in lieu of one LTC during 2018-21 according to entitlement. Special Festival Advance Scheme revived as a one-time measu...

FM announces Stimulus to boost Demand in Economy: Highlights

(Release ID: 1663675 - (12/10/2020) - Under LTC Cash Voucher Scheme, the Government has decided to give cash payment to employees in lieu of one LTC during 2018-21, in which full payment on Leave encashment and tax-free payment of LTC fare in 3 flat-rate slabs depending on class of entitlement will be given....

LTC for Central Government Employees during Block 2018-21

F. No. 12(2)/2020-EII(A) - (12/10/2020) - It has been decided that cash equivalent of LTC, comprising Leave Encashment and LTC fare of the entitled LTC may be paid by way of reimbursement, if an employee opts for this in lieu of one LTC in the Block of 2018-21 subject to the following conditions:-...

Recent Posts in "finance minister"

FM Nirmala Sitharaman Leads 164th Income Tax Day Celebrations in Delhi

Marking the 164th Income Tax Day, Finance Minister Nirmala Sitharaman praises CBDT's efforts in tax administration reforms and ease of compliance....

Posted Under: Income Tax |

Multiple steps outlined to prevent operations of Illegal Loan Apps: FM

Finance Minister Smt. Nirmala Sitharaman chairs meeting on Illegal Loan Apps. Multiple steps outlined to prevent operations of such Illegal Loan Apps. Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired a meeting yesterday to discuss the various issues related to ‘Illegal Loan Apps’ outside the r...

Posted Under: Income Tax |

India needs 4 -5 more banks like SBI: FM

India needs 4 -5 more banks like SBI to meet changing requirements of the Indian Economy: Nirmala Sitharaman FM says Long Term Future of Indian Banking would be driven by digital processes; Asks IBA to carry out nation-wide digitized mapping of bank branches Sitharaman commends banks for smooth amalgamation Posted On: 26 SEP 2021 : [&hell...

Posted Under: Income Tax |

FM laid foundation stone today for office building of I-T Department

Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs laid foundation stone today for office building of Income Tax Department Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs laid foundation stone on 5th September, 2021 for office building of Income Tax Department at plot No....

Posted Under: Income Tax |

FM releases COVID Relief Package to boost economy: A Liquidity Lifeline

Welcome Announcements by Finance Minister to boost COVID affected sectors: Healthcare, Tourism, Exports, Job Creation In a bid to boost the economy battered by the second wave of COVID-19, Finance Minister Smt. Nirmala Sitharaman, on 28th June, 2021, announced a relief package targeting healthcare, tourism, exports and job creation, among...

Posted Under: Income Tax |

Properties attached & dues recovered from Fugitives & economic offenders

ED transferred attached assets worth Rs 8441.5 Crore to Public Sector  Banks who suffered loss due to the bank fraud by Vijay Mallya Nirav Modi and Mehul Choksi 1. Vijay Mallya, Nirav Modi and Mehul Choksi have defrauded Public Sector Banks by siphoning off the funds through their companies which resulted in total loss of […]...

Posted Under: Income Tax |

FM meets heads of insurance companies for faster claim settlement

Ministry of Finance Finance Minister Smt Nirmala Sitharaman meets heads of insurance companies for faster claim settlement FM emphasizes for streamlining  process and documentation requirements under the schemes for enabling speedy claims  disbursement Under PMJJBY1.2 lakh claims ofRs. 2,403 crore paid with disposal rate of 99% since 1s...

Posted Under: Income Tax |

Unlocking The Lockdown: Logical Steps Needed

Before the Unlocking starts I have some suggestions for Government, Trade and Citizen. They can be further discussed with all the stakeholders and a well-planned Unlock should be implemented....

Posted Under: Income Tax |

Emergency Credit Line Guarantee Scheme 1.0 & 2.0 extended upto 30.6.2021

ECLGS 3.0 would involve extension of credit of upto 40% of total credit outstanding across all lending institutions as on 29.02.2020. The tenor of loans granted under ECLGS 3.0 shall be 6 years including moratorium period of 2 years....

Posted Under: Income Tax |

The National Commission For Allied And Healthcare Professions Act, 2021

No. 14 OF 2021 28/03/2021

(1) This Act may be called the National Commission for Allied and Healthcare Professions Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification, appoint; and different dates may be appointed for different provisions of this Act and any reference in any provision to the commencement of this Act ...

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