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Ministry of Finance

DIPAM issues revised capital restructuring norms for CPSEs

DIPAM issues revised capital restructuring norms for CPSEs

Tue, Nov 19, 2024

Any listed CPSE, whose market price exceeds 150 times its face value consistently for the last six months, may consider splitting off its shares.

Centre to finance 65% of Chennai Metro Phase 2 project: Finance Ministry

Centre to finance 65% of Chennai Metro Phase 2 project: Finance Ministry

Sat, Oct 05, 2024

This will include the entire required loan of Rs 33,593 crore, besides the equity and subordinate debt of Rs 7,425 crore.

Central govt allocates Rs 3.66 lakh crore to states between April -July 24, Rs 57,109 crore more than last year

Central govt allocates Rs 3.66 lakh crore to states between April -July 24, Rs 57,109 crore more than last year

Sat, Aug 31, 2024

According to the ministry this is an increase of Rs 57,109 crore compared to the same period in the previous fiscal year. It reflects the fiscal federalism by the government.

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Black Money: 2.25 lakh companies to be struck-off by FY19, all details here

Black Money: 2.25 lakh companies to be struck-off by FY19, all details here

Sat, Jun 09, 2018

As many as 3,09,619 directors were also disqualified u/s.164(2)(a) read with Section 167(1) of the Companies Act, 2013 for non-filing of Financial Statements or Annual Returns for a continuous period of immediately preceding 3 financial years (2013-14, 2014-15 & 2015-16).

No change in GST law relating to farmers, says FinMin

No change in GST law relating to farmers, says FinMin

Mon, May 28, 2018

As per the ministry, support services to agriculture, forestry, fishing or animal husbandry are exempt from GST.

FinMin mulling innovative ways to deal with banks' NPA provision

FinMin mulling innovative ways to deal with banks' NPA provision

Sun, May 13, 2018

With the help of this instrument, the operating profit of bank is saved from erosion and the lender would be able to focus on lending activities as being in financially good shape. Under this scheme, the bank concerned will get PSC to the extent of its provision against the bad loans and conserve its capital, sources said, adding that this capital can then be used for expanding core business of lending

Good news! Income Tax offices, Aayakar Seva Kendras to stay open on weekend; here’s how you can file ITR

Good news! Income Tax offices, Aayakar Seva Kendras to stay open on weekend; here’s how you can file ITR

Wed, Mar 28, 2018

Income tax returns (ITR) filing must always be taken as one of the biggest duties of the citizen, and that it should be followed consistently every year. To ensure last-minute taxpayers are not inconvenienced, I-T dept is working through the weekend.

First sale of electoral bonds via SBI to begin from March 1

First sale of electoral bonds via SBI to begin from March 1

Thu, Feb 22, 2018

Finance Minister Arun Jaitley during his Budget speech in February 2017, announced the introduction of the bonds

GST relief for circus, dance and theatrical performances

GST relief for circus, dance and theatrical performances

Wed, Feb 07, 2018

These services earlier attracted GST @ 28%. Requests were received from several quarters that amusement parks promote social wellness and beget fun and learning for children and their families in a real active entertainment and therefore, the rate may be reduced to 18%.

Indian gold demand wanes as jewellers expect import tax cut in budget

Indian gold demand wanes as jewellers expect import tax cut in budget

Tue, Jan 30, 2018

Gold prices in India, the world`s second-biggest user of the precious metal, were at discounts as jewellers were postponing purchases on the expectation that the government will announce an import tax cut in its annual budget on Thursday.

GST revenue collections rise to Rs 86,700 crore in December; one crore taxpayers registered

GST revenue collections rise to Rs 86,700 crore in December; one crore taxpayers registered

Thu, Jan 25, 2018

The Ministry tweeted out that the total revenue collections under GST for the month of December 2017 amounted to Rs 86,703 crore, till 24th January, 2018.

Bitcoin not a legal tender in India, says Finance Minister Arun Jaitley

Bitcoin not a legal tender in India, says Finance Minister Arun Jaitley

Tue, Jan 02, 2018

The Finance Minister of India has openly refuted the acceptance of Bitcoin as legal tender in India.

Did RBI consciously stop printing Rs 2000 currency notes?

Did RBI consciously stop printing Rs 2000 currency notes?

Thu, Dec 21, 2017

If we look the RBI' annual report data closely, it indicates that the central bank printed heavily Rs 500 denominations but slowed down on Rs 2,000 denominations.

After FinMin, I-T dept, SEBI too tightens noose around Bitcoin

After FinMin, I-T dept, SEBI too tightens noose around Bitcoin

Mon, Dec 18, 2017

The SEBI may come down heavily on illicit 'initial coin offers' seeking public investments with promise of high returns from Bitcoins in the absence of any regulatory regime.

Aadhaar made mandatory for AMC clients from January 2018

Aadhaar made mandatory for AMC clients from January 2018

Wed, Dec 13, 2017

The submission of Aadhaar details are required only for non-demat transactions on the BSE StAR MF Platform.

Direct tax collections grow over 14% till November to nearly Rs 5 lakh crore

Direct tax collections grow over 14% till November to nearly Rs 5 lakh crore

Sat, Dec 09, 2017

Tax collections from the start of the financial year to November 2017 have escalated as against the year ago period.

Govt names Shaktikanta Das as India's G20 Sherpa

Govt names Shaktikanta Das as India's G20 Sherpa

Mon, Nov 27, 2017

"Former DEA secretary Shaktikanta Das @DasShaktikanta appointed India's G20 Sherpa till December 31, 2018, for the Development Track of the G20," the Ministry of Finance said in a series of tweets.

GST collections dip in October to Rs 83,346 cr; 95.9 lakh taxpayers registered

GST collections dip in October to Rs 83,346 cr; 95.9 lakh taxpayers registered

Mon, Nov 27, 2017

The Finance Ministry said that the states' revenues have been fully protected taking base year revenue as 2015-16, providing a projected revenue growth rate of 14%.

Exclusive: India seeks hefty dividends from state firms as its revenues falter

Exclusive: India seeks hefty dividends from state firms as its revenues falter

Mon, Nov 13, 2017

The demand has been made following a finance ministry assessment on Oct. 25 of the financial health of 14 state companies, including top miner NMDC Ltd and trading firm MMTC Ltd, according to a government document reviewed by Reuters.

7th Pay Commission: Revision in pay hike of FTII employees' gets green signal from govt

7th Pay Commission: Revision in pay hike of FTII employees' gets green signal from govt

Wed, Nov 08, 2017

Union Cabinet on June 28, among many recommendations under the 7CPC, also approved raising the minimum pay from Rs 7,000 to Rs 18,000 per month and fitment factor to 2.57 times.

Demonetisation not one-stop solution to end corruption: Jaitley

Demonetisation not one-stop solution to end corruption: Jaitley

Tue, Nov 07, 2017

"Demonetisation is not a one-stop solution to end corruption. It cannot be, but it did change the agenda. And that changed agenda is that we should go towards less-cash economy. Individual tax payers` number has increased, digital transactions have gone up and terror funding has squeezed," Jaitley said.

Direct Tax collections' reach 39.4% of FY18 Budget Estimates

Direct Tax collections' reach 39.4% of FY18 Budget Estimates

Wed, Oct 11, 2017

In the Union Budget 2017, the government has fixed direct collections target at Rs 9.8 lakh crore. So far, the govt has received Rs 3.86 lakh crore between April - September 2017.

62% taxpayers file final GST returns for July 2017; What happens to those who missed

62% taxpayers file final GST returns for July 2017; What happens to those who missed

Wed, Oct 11, 2017

GSTR-1 is a monthly return that summarizes all outward supplies by normal and casual registered taxpayers. The deadline to file this form ended on October 10, 2017.

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