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...
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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...
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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 CBI has asked the revenue department of the finance ministry to conduct an inquiry to determine if orders issued by income tax appellate authorities in 75 cases, where private parties benefited at the expense of the government, were in accordance with law.
To check the menace of international cross border tax evasion, the Union Ministry of Finance has approved eight income tax units within the Indian missions overseas, Finance minister Pranab Mukherjee said.The Union Finance Ministry has already set up two income tax overseas units within the Indian missions in Singapore and Mauritius, and recently approved eight more such units to facilitate seamless flow of tax-related information from abroad.
Finance Minister Pranab Mukherjee on Friday said the government will take a view on new tax slabs after receiving inputs from different stakeholders on the revised draft of the Direct Taxes Code (DTC).
Taxing the banks for future bailouts is only a compromise formula, as a section of G-20 members, including India, is against any such levy, finance minister Pranab Mukherjee has said. That was the compromise formula, because a section of the meeting that felt that there is no need of having any taxation as such, Mukherjee said in an interview.
Finance Minister Pranab Mukherjee today rejected criticism of the revised draft Direct Taxes Code over the proposal to restore exemptions in income tax, saying the tax rates are indicative and not final. Changes (made in the revised draft Code) cannot be presumed as “progressive or regressive”, he told PTI in an interview making it clear that final tax rates are the prerogative of Parliament to decide.
Finance Minister, Shri Pranab Mukherjee announced the operationalisation of the income tax welfare fund which was pending since 1998. The fund has a corpus of Rs.100 crore and will be available for welfare activities of the employees of the income tax department. The finance Minister made this announcement while addressing the Annual Conference of Chief Commissioners and Director Generals of Income Tax, here today.
Direct Taxes, now the major resource provider to the Central Government, have grown at an average annual rate of 24 percent in the last five years and have nearly trebled from Rs.1,32,771 crore in financial year 2004-05 to about Rs.3,78,000 crore in financial year 2009-10, increasing its share from 4.1 percent to 6.1 percent of the Gross Domestic Product (GDP).
Former Infosys co-chair Nandan Nilekani will head a committee that will recommend to the finance ministry on how best to tap information technology for an effective tax administration and financial governance system. Called the technical advisory group for unique projects, the panel has been given a time frame of six months to make its suggestions, a finance ministry communique said Monday.
Corporate houses seeking banking licences will come under the scrutiny of both the Reserve Bank of India and the finance ministry, which are keen to restrict the entry of players involved in dubious transactions. The books and accounts of all group companies will be examined before granting the new banking licences, proposed by the finance minister in the Union budget, said a finance ministry official privy to the deliberations on the subject.
The Union finance minister had introduced the Finance Bill, 2010 in the Lok Sabha on February 26, 2010 and proposed to tax 8 new services. On May 8, 2010, the President gave her consent to the Finance Bill and thus the Finance Act, 1994 (14 of 2010) has come into effect from that date. SERVICE TAX IS BEING IMPOSED ON THE FOLLOWING SPECIFIED SERVICES:
