Income Tax : Explore the changes in taxation of debt mutual funds pre and post April 2023. Learn about impacts, benefits, and strategies. Inves...
Finance, Income Tax : Explore the impact of Indias budget evolution in 2024, focusing on economic growth, reducing disparity, and strategic resource all...
Finance : Welcome Announcements by Finance Minister to boost COVID affected sectors: Healthcare, Tourism, Exports, Job Creation In a bid to ...
Finance : Before the Unlocking starts I have some suggestions for Government, Trade and Citizen. They can be further discussed with all the ...
Finance : 1. The Government vide office memorandum no. F.No. 12(2)/2020—EH(A) dated 12 October 2020 announced the Cash Voucher LTC (Leave ...
Finance : Smt. Nirmala Sitharaman assumes office as Union Minister for Finance & Corporate Affairs, pledges commitment to 'Ease of Living' a...
Income Tax : Marking the 164th Income Tax Day, Finance Minister Nirmala Sitharaman praises CBDT's efforts in tax administration reforms and ea...
Finance : Finance Minister Smt. Nirmala Sitharaman chairs meeting on Illegal Loan Apps. Multiple steps outlined to prevent operations of suc...
Finance : India needs 4 -5 more banks like SBI to meet changing requirements of the Indian Economy: Nirmala Sitharaman FM says Long Term Fut...
Income Tax : Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs laid foundation stone today for office building...
Income Tax : The assets did not fall under any of the above exceptional three conditions. The said block of assets was used for the purpose of ...
Corporate Law : (1) This Act may be called the National Commission for Allied and Healthcare Professions Act, 2021. (2) It shall come into force o...
Income Tax : Whether the full and final settlement of the bills pertaining to LTC Cash Scheme is also to be ensured by 31st March, 2021, withou...
Finance : Finance Minister announces measures of Rs 73,000 crore to stimulate consumer spending before end of this Financial Year in fight a...
Finance : Under LTC Cash Voucher Scheme, the Government has decided to give cash payment to employees in lieu of one LTC during 2018-21, in...
Finance : It has been decided that cash equivalent of LTC, comprising Leave Encashment and LTC fare of the entitled LTC may be paid by way o...
The Union Finance Minister Shri Mukherjee said that for the Financial Year 2011-12, the Income-tax Department has been given a tax collections target of about Rs.5.33 lakh crores, which is at 20 per cent growth over the actual collections of the preceding year i.e. 2010-11. He said that the 13th Finance Commission (2010-15) has projected direct tax revenue collection at Rs.8.3 lakh crore by 2014-15 and direct tax GDP ratio at 7.62 per cent. The Direct tax GDP ratio as of now is 5.66 per cent. The targets are very steep and challenging.
Making out a case for extension of the popular incentive scheme – DEPB – for Indian exporters, Commerce Minister Anand Sharma today said he will take up the issue with Finance Minister Pranab Mukherjee on his return to New Delhi. I am one who is not subscribing to this view that our exports have reached a stage where we can do away with some of the incentives…I am going to discuss DEPB and interest rates with the Finance Minister.
Union Finance Minister, Shri Pranab Mukherjee has said that the counterfeiting of our currency is a matter of great concern for the Government. The Finance Minister said that with a view to check this menace of fake currency, an exercise for introduction of security features in all denominations of Indian Bank Notes is under way. This is being piloted by Directorate of Currency, Ministry of Finance, the Minister added. Shri Mukherjee urged all concerned to have this task completed at the earliest in a given time frame.
The Finance Ministry is likely to set up Directorate of Criminal Investigation, a specialised wing to probe cases of black money, money laundering and terror funding, by the end of this month. A dedicated unit called Directorate of Criminal Investigation will look into the nexus between black money (which is illegally acquired), money laundering, and in extreme cases, terror funding. The Directorate would be notified within this month, a Finance Ministry official told PTI.
The Central Board of Direct Taxes (CBDT) will continue to enjoy the power of telephone tapping despite a strong recommendation by a Committee of Secretaries against it following a controversy in the wake of the Niira Radia episode. “The CBDT will continue to have the power of phone tapping subject to certain conditions,” an official said.
In the backdrop of banks’, including State Bank of India’s, rising non-performing assets, Finance Minister Pranab Mukherjee today said their asset quality is a matter of concern. The asset quality of the banks is a matter of concern. Banks have to bring down their NPA levels to the pre-crisis levels which have gone up in the last year considerably,” Mukherjee at the annual general meeting of the Indian Banks’ Association here.
Giving relief to 4.71 crore subscribers of EPFO, the government has allowed tax exemption on the 9.5% interest income on PF deposits for 2010-11. The finance ministry notification last week raises the income tax exemption to 9.5% interest income from 8.5%. The decision clears the air for the EPFO subscribers who were given increased interest rate by one percentage point for 2010-11, but the finance ministry had not matched the interest hike with a commensurate tax exemption.
Finance minister Pranab Mukherjee on Sunday said the Empowered Group of Ministers headed by him would decide on the price hike of diesel, LPG and kerosene when it meets next week. A decision will be taken on raising prices of these items when the EGoM meets next week, Mukherjee told reporters here after meeting Congress MLAs elected in the West Bengal Assembly elections.
The Finance Ministry will take up 42 foreign direct investment (FDI) proposals, including that of BNP Paribas , Tata Steel and PTC India Financial Services, next week. The Foreign Investment Promotion Board (FIPB) headed by Economic Affairs Secretary R Gopalan is scheduled to meet on May 20 here.
Union Finance Minister Shri Pranab Mukherjee said while the current trend in food inflation is welcome and we hope to see further moderation in food inflation in the coming weeks. He said that however, there are concerns on the price momentum in non-food articles. Shri Mukherjee said that sustained high non-food primary prices are creating cost-push inflationary conditions in the manufacturing sector. Thus, even though food inflation is declining, the concern on higher core inflation remains, the Minister added. Union Finance Minister Shri Pranab Mukherjee said that the recent monetary policy announcements should help in addressing these concerns.
