Finance Ministry
Finance Ministry to kick-start pre-budget meetings from October 10
Wed, Sep 20, 2023
The notice dated September 20, 2023, circulated to all ministries and departments has a schedule of meetings with them. The schedule for pre-budget meetings has been prepared taking into account various exigencies and is being circulated well in advance, it said.
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Govt likely to stick to market borrowing plan for raising Rs 6.55 lakh crore
Wed, Sep 20, 2023
The government is likely to stick to its borrowing plan for raising Rs 6.55 lakh through the sale of bonds in the market during the second half of the current financial year (October to March, 2024).
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Finance Ministry initiates Budgetary exercise for 2024-25; seeks inputs from various ministries
Mon, Sep 04, 2023
It will be an interim Budget as the elections for the Lok Sabha are due early next year. The full Budget for FY25 will be presented after the formation of the new government after the general elections.
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TRENDING NOW
Govt will adhere to fiscal deficit target of 5.9% for FY24, says Finance Secretary T V Somanathan
Fri, Aug 18, 2023
The government will stick to the fiscal deficit target of 5.9 per cent of the GDP as robust tax, non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday.
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Automated IGST refunds on pan masala, tobacco, similar items to be restricted from October 1
Tue, Aug 01, 2023
The items on which automated IGST refund restriction has been imposed include pan masala, unmanufactured tobacco, hookah, gutkha, smoking mixtures for pipes and cigarettes and other items, including mentha oil.
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Over 8.75 lakh HUFs claimed Rs 3,803 crore tax deductions in 2022-23: Finance Ministry
Tue, Jul 25, 2023
Minister of State for Finance Pankaj Chaudhary in a reply to the Rajya Sabha provided details of the number of Hindu Undivided Families (HUF) availing tax benefits (in the form of deduction under Chapter VIA of the Income-tax Act) during the last five years.
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Income Tax Dept sent 1 lakh notices for underreporting, non-filing of returns, says Finance Minister Nirmala Sitharaman
Tue, Jul 25, 2023
Union Finance Minister Nirmala Sitharaman has said that the Income Tax Department has sent about one lakh notices to individuals for non-filing of returns or understating incomes in the past years.
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Nirmala Sitharaman meets Chinese counterpart, discusses global debt vulnerabilities
Tue, Jul 18, 2023
G20 India: Finance Minister Nirmala Sitharaman on Tuesday met her Chinese counterpart Liu Kun and discussed various deliverables under G20 India Presidency, including strengthening Multilateral Development Banks and global debt vulnerabilities.
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Increased TCS rates to apply from Oct 1; no TCS on foreign remittances of up to Rs 7 lakh in a financial year: Finance Ministry
Wed, Jun 28, 2023
The Ministry informed that transactions through international credit cards, while being overseas, would not be counted as LRS and hence would not be subject to TCS.
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Rs 1.4 lakh crore incentive available for States for power sector reforms in 2023-24: Finance Ministry
Wed, Jun 28, 2023
An amount worth Rs 1,43,332 crore will be available as an incentive to states for undertaking power sector reforms in 2023-24, the Union Ministry of Finance said Wednesday.
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Finance ministry extends deadline for MSMEs to submit refund claims of forfeited bid security
Mon, Jun 05, 2023
The scheme commenced from April 17 and the Department of Expenditure under the finance ministry had fixed the last date for claim submission as June 30. The Expenditure department has extended the deadline for submission of bids till July 31.
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India 360: CA, CS And CWAs Who Enter Into Financial Transactions On Behalf Of Client Brought Under PMLA
Thu, May 04, 2023
Notifying changes to the Prevention of Money-laundering Act on Thursday, the Finance Ministry brought in practicing chartered accountants, company secretaries, and cost and works accountants carrying financial transactions on behalf of their clients into the ambit of the money laundering law.
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Finance Ministry brings CA, CS, accountants carrying financial transactions of clients under Prevention of Money-laundering Act
Thu, May 04, 2023
The changes notified have been made in the sub-clause (vi) of clause (sa) of sub-section (1) of section 2 of the PMLA, which defines different categories of persons covered under the Prevention of Money-laundering Act.
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FinMin Brings CA, CS, Accountants Carrying Financial Transactions Of Clients Under Money Laundering Law
Thu, May 04, 2023
Notifying changes to the Prevention of Money-laundering Act on Thursday, the Finance Ministry brought in practicing chartered accountants, company secretaries, and cost and works accountants carrying financial transactions on behalf of their clients into the ambit of the money laundering law.
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BIG BREAKING: No Plan To Change Capital Gain Tax Rules? Watch Details Here
Tue, Apr 18, 2023
Big breaking news has come quoting the sources of the Finance Ministry. There are no plans to change capital gains tax rules. The news of change in tax rules is wrong. There are no plans to increase tax in LTCG.
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Finance Ministry asks PSU banks to do proper monitoring of loans
Mon, Mar 27, 2023
During the two hours meeting with MDs and CEOs of PSBs, an open discussion was held on the global scenario amid the failure of the Silicon Valley Bank (SVB) and Signature Bank (SB), along with the issues leading to the crisis in Credit Suisse.
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SVB, Credit Suisse crises: Finance Ministry asks PSU banks to submit report on strategies to avert key risks
Mon, Mar 27, 2023
Finance Minister Nirmala Sitharaman asks public sector banks to keep a close watch on their businesses' status points, risks, and adverse exposure. She also asks banks to keep track of their trading books to ensure sufficient liquidity amid increasing debt and interest rates
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