finance minister

Demonetisation – A look back at the last two months

Income Tax - In this Article Hon'ble Finance minister Shri. Arun Jaitley analysed the rationale behind the Demonetisation decision and its impact....

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No rollback of excise duty on Articles of Jewellery : FM

Income Tax - FM Said in RS that excise duty on Articles of Jewellery will be enforced upon the traders having turnover of 12 crores and 6 crores of rupees and not on lower category of traders. We can decide the items which can be taxed. It is not possible to recall the tax due to some organised agitation. ...

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Challenges for Success of Goods and Service Tax (GST) In India

Income Tax - The 122nd Constructional Amendment Bill seeks to introduce the Goods and Service Tax (GST Bill) was tabled in the Lok Sabha on 19th December 2014. Touting it as the single biggest tax reform since independence, Finance Minister Arun Jaitley (FM) while introducing the Bill had said that the GST law will subsume all indirect levies from Apr...

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TARC submits its fourth and final report on tax reforms

Income Tax - The Parthasarathi Shome-led Tax Administration Reforms Commission (TARC) has submitted its fourth and final report to Finance Minister Arun Jaitley. This report suggests many departures from existing methodologies including those on revenue forecasting....

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Indian Economy 2013-14

Income Tax - NATURE OF INDIAN ECONOMY India is a mixed economy where the means of production are owned by private and public sectors together. The economy of India is the tenth-largest in the world by nominal GDP* and the third-largest by purchasing power parity (PPP). The country is one of the G-20 major economies, a member of […]...

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Clarification regarding number of Taxpayers added after Demonetization

Income Tax - Various news reports/articles have appeared in the media regarding inconsistency in the estimates of the number of taxpayers added after demonetization. It has been commented that the following different figures have been given at different forums by different authorities: ...

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FM Launches Operation Clean Money Portal; 5.68 lakh new cases identified

Income Tax - The Union Minister of Finance, Shri Arun Jaitley, launches Operation Clean Portal; Will enable citizen engagement for creating a tax compliant society and transparent tax administration...

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Govt has no plan to impose any tax on agriculture income: FM

Income Tax - Central Government has no plan to impose any tax on agriculture income. As per the Constitutional Allocation of Powers, the Central Government has no jurisdiction to impose tax on agricultural income...

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NPAs slowed down in Q4 of Current Financial Year: FM

Income Tax - FM: Rate of increase of Non Performing Assets (NPAs) has slowed down in the last Quarter of the Current Financial Year; Government is taking sector specific measures to deal with the problem of NPAs;...

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Ram Jethmalani cross examined Arun Jaitley in court: Part 2

Income Tax - Are you aware that I advised Mr. Narender Modi not to set you up as a candidate from the Amritsar seat? Can you assign any serious reason for which Mr. Bishan Singh Bedi made a complaint against you with the Prime Minister?...

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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 ,...

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FM Statement on Kelkar Committee Report, Fiscal Roadmap & Consolidation

Income tax press release - (29/10/2012) - The Kelkar Committee has cautioned us that a business-as-usual scenario for the current year may lead to the fiscal deficit rising to 6.1 per cent of GDP. This would have grave consequences for the economy is, therefore, totally unacceptable. The Committee has recommended a number of reform measures...

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Inauguration of Income Tax Office at Chinsurah, West Bengal

NA - (08/12/2010) - Inauguration of Income Tax Office at Chinsurah, Dist-Hooghly, West Bengal by Honble Union Finance Minister Shri Pranab Mukherjee on 04.12.2010 - Publicity in the official web site...

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Cashless mediclaim facility will continue: Pranab Mukherjee

NA - (06/08/2010) - Finance Minister Pranab Mukherjee on Monday allayed fears of withdrawal of the cashless mediclaim facility by public sector general insurance companies, saying these firms have not done away with these schemes and are only standardising the rates for various hospitals....

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Recent Posts in "finance minister"

Clarification regarding number of Taxpayers added after Demonetization

Various news reports/articles have appeared in the media regarding inconsistency in the estimates of the number of taxpayers added after demonetization. It has been commented that the following different figures have been given at different forums by different authorities: ...

Read More
Posted Under: Income Tax |

FM Launches Operation Clean Money Portal; 5.68 lakh new cases identified

The Union Minister of Finance, Shri Arun Jaitley, launches Operation Clean Portal; Will enable citizen engagement for creating a tax compliant society and transparent tax administration...

Read More
Posted Under: Income Tax |

Govt has no plan to impose any tax on agriculture income: FM

Central Government has no plan to impose any tax on agriculture income. As per the Constitutional Allocation of Powers, the Central Government has no jurisdiction to impose tax on agricultural income...

Read More
Posted Under: Income Tax |

NPAs slowed down in Q4 of Current Financial Year: FM

FM: Rate of increase of Non Performing Assets (NPAs) has slowed down in the last Quarter of the Current Financial Year; Government is taking sector specific measures to deal with the problem of NPAs;...

Read More
Posted Under: Income Tax |

Ram Jethmalani cross examined Arun Jaitley in court: Part 2

Are you aware that I advised Mr. Narender Modi not to set you up as a candidate from the Amritsar seat? Can you assign any serious reason for which Mr. Bishan Singh Bedi made a complaint against you with the Prime Minister?...

Read More
Posted Under: Income Tax | ,

Ram Jethmalani cross examined Arun Jaitley in court: Part 1

I put it to you that 'goodwill' is enjoyed even by a crook, who has done some good thing to somebody. What do you have to say? You have used the word 'goodwill' in the letter addressed to Deputy Registrar filed along with the plaint. Are you aware about the difference between goodwill and reputation?...

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Posted Under: Income Tax | ,

FM releases Revised General Financial Rules (GFR) 2017

The Finance Minister Shri Arun Jaitley calls upon the Financial Advisers of different Ministries to ensure that expenditure on schemes and projects start from the beginning of the financial year to leverage the early passing of the Finance Bill this year;...

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Posted Under: Income Tax |

Respect autonomy and independence of RBI

Finance Ministry says that it respects autonomy and independence of Reserve Bank of India after a report in sections of Press that some unions have alleged infringement of autonomy of Reserve Bank of India....

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Posted Under: Income Tax |

Demonetisation – A look back at the last two months

In this Article Hon'ble Finance minister Shri. Arun Jaitley analysed the rationale behind the Demonetisation decision and its impact....

Read More
Posted Under: Income Tax |

Need for move towards a mindset of voluntary Tax compliance: FM

Finance Minister: There is a need for move towards a mindset of voluntary compliance and payment of legitimate taxes should be considered as part of the process and nobody should think that tax evasion is acceptable;...

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Posted Under: Income Tax |
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