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Ministry of Finance News
Ministry of Finance
New Rs 5 coin introduced: Check images, features, shape and everything else
Fri, Mar 08, 2019
The front face of the coin will have the Lion Capitol of Ashoka Pillar with the legend 'Satyamev Jayate' in Hindi inscribed below, flanked on the left periphery with the word 'Bharat' in Hindi language and on the right with word “INDIA” in English.
New Re 1, Rs 2, Rs 5, Rs 10, Rs 20 coins launched: Check features, composition, all other details
Thu, Mar 07, 2019
The coins of One Rupee, Two Rupees, Five Rupees, Ten Rupees and Twenty Rupees shall also be coined at the Mint for issue under the authority of the Central Government, said the finance ministry.
In a first, Rs 20 coin launched by PM Narendra Modi: Features, shape, and all other details you want to know
Thu, Mar 07, 2019
Rs 20 Coin: National Institute of Design has prepared the design of the coins while Security Printing and Minting Corporation of India Limited and the Ministry of Finance played the key role in the introduction of new coins.
Where is Black Money? Report reveals this location, two years after demonetisation
Fri, Feb 22, 2019
Contrary to the popular belief, reports of three studies commissioned by the government say that 90-97.2% of the black money is inside the country while only 2.8-19% has been taken out of the country.
Budget 2019 expectations: No tax on health insurance, revise 80D limits under IT Act
Thu, Jan 24, 2019
Health insured working in a SME or MSME should be given tax waiver as the taxes make insurance costlier that a common man may not be able to afford.
Budget 2019 may bring a reason for big cheer to farmers: What Modi-Jaitley may announce - 'Universal Income Scheme'
Mon, Jan 21, 2019
Finance minister Arun Jaitley may come out with a surprise move with the announcement of the universal income scheme in the interim budget, which may cost the exchequer as much as Rs 3.1 lakh crore annually.
Budget 2019 expectations: MSMEs want 30 per cent investment allowance from Modi government - Will they get?
Tue, Jan 08, 2019
Rajeev Chawla, Chairman, IamSMEofIndia — a platform that fights for the cause of the MSMEs in India — told Zee Business online, "The Indian government is giving Income Tax exemption up to 30 percent to those firms which have an annual turnover of Rs 25-crore or above.
GST evasion of Rs 12,766 cr detected in April-November
Wed, Dec 19, 2018
A total of 3,196 cases of Goods and Services Tax (GST) evasion amounting to Rs 12,766 crore have come to light in the first eight months of the current financial year, the Ministry of Finance said on Tuesday.
Alert! Banks will remain closed for six days in September? Here's the truth
Sat, Sep 01, 2018
Banks alert: Don't fall to social media rumours claiming that banks will remain closed for the first six days of this month starting today
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
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
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
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
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
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
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
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
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?
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
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.