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Ministry of Finance News
Ministry of Finance
April 30 last day to provide self-certification for account holders; here's what you need to know about FATCA
Wed, Apr 12, 2017
The Inter-Governmental Agreement (IGA) between India and USA was expected to come into force on August 31, 2015.
CBDT allotted over PAN card to 19,000 new companies in just one day: FinMin
Tue, Apr 11, 2017
From now, the newly incorporated corporates will be able to issue Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) in just one day.
More than Rs 1.3 lakh crore of income tax evasion detected in three years: FinMin
Fri, Apr 07, 2017
The Ministry in a release mentioned that the three year period witnessed "unprecedented enforcement actions in direct & indirect taxes."
Now, you have to compulsorily quote Aadhaar number for PAN applications, filing Income Tax returns from July 1
Wed, Apr 05, 2017
The government announced on Wednesday that citizens have to mandatorily quote Aadhaar numbers while applying for PAN numbers and filing for their IncomeTax returns starting from July 1 this year.
India-UK join hands to invest £240 million in green infrastructure projects
Wed, Apr 05, 2017
As per the Ministry, the fund aims to leverage private sector investment from the City of London to invest in green infrastructure projects in India.
India-UK joint fund to raise 500 million pounds to finance Indian energy projects
Tue, Apr 04, 2017
The Indian government in partnership with the UK government on Tuesday has announced to raise 500 million pounds (nearly Rs 4,063 crore) to finance India's energy sector projects.
India's FY17 tax collection reaches Rs 17.10 lakh crore
Tue, Apr 04, 2017
The ministry said, "As against the Revised Estimate, the provisional figure of tax collection is Rs 17.10 lakh crore, which is a growth of around 18% compared to last."
CBDT seeks suggestion on draft notification of STT chargeability rules
Mon, Apr 03, 2017
Under the Section 10 (38), the income arising by way of a transfer of long term capital asset, being equity share in a company, shall be exempt from tax if such transfer is undertaken after 1st October, 2004.
Income Tax Filing: What is Sahaj? Here's all you need to know about new ITR-1 Form
Mon, Apr 03, 2017
The ITR-1 Form, also called Sahaj (meaning easy in Hindi), is the Income Tax Return Form for salaried individuals.
CBDT simplifies ITR filing process from FY18
Fri, Mar 31, 2017
CBDT in one of the major reforms, notified the designing of one page ITR form to simplify the process of tax filing.
EPFO may invest up to 15% of investable amount in equity markets
Sun, Mar 19, 2017
Dattatreya said the EPFO through fund managers had invested 14,700 crore in ETFs in the current financial year.
Direct tax collection records growth of nearly 11% in April-February; indirect tax collection up 22%
Fri, Mar 10, 2017
The Government of India's net refunds of direct tax collection from April to February 2016-17 has risen 10.7% to Rs 6.17 lakh crore as compared to same period last year.
Can't disclose if Jaitley was consulted on notes ban: FinMin
Sun, Mar 05, 2017
The Finance Ministry has taken refuge under the exemption clause of section 8(1)(a) of the Act to deny the information.
Gap between India's GDP and GVA widens further
Thu, Mar 02, 2017
Teresa John of Nirmal Bang in a report said, “Our earlier estimates had assumed no significant difference between GVA and GDP as both had exhibited a converging trend in the earlier quarters. However, the CSO believes that higher indirect tax collection and lower subsidies have pushed up the indirect tax component of GDP, resulting in divergence between GVA and GDP. “
IRS officers seek PM's intervention for smooth roll-out of GST
Sun, Feb 26, 2017
In a memorandum submitted to the Prime Minister's Office (PMO), the officers' body has also highlighted the serious security and financial concerns raised by the Comptroller and Auditor General (CAG) and the Home Ministry against the Goods and Services Tax Network (GSTN).
Applications for Sovereign Gold Bonds Series IV begin February 27
Thu, Feb 23, 2017
The Bonds will be issued on March 17, 2017, the Ministry said.
Further consolidation in PSU banks after improvement in bad loans: FinMin
Tue, Feb 21, 2017
According to sources, the arrest of bankers by investigating agencies also came up during the meeting.
FinMin kickstarts listing process of three Rail PSUs
Mon, Feb 20, 2017
"The shares of Railway public sector enterprises (PSEs) like IRCTC, IRFC and IRCON will be listed in the stock exchanges," Jaitley had said in his speech.
Over 5.27 lakh taxpayers respond to IT department's 'Operation Clean Money '
Tue, Feb 14, 2017
"The explanation of cash deposit submitted by the taxpayer is being analysed in the context of nature of business and business profile in the earlier returns of the taxpayer," said the Ministry of Finance.
Finance Ministry appoints Sanjeev Sanyal as Principal Economic Adviser
Fri, Feb 03, 2017
In 2007, Sanyal was awarded the Eisenhower Fellowship for his work on urban issues and was also honoured by the Singapore government at the World Cities Summit 2014.