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Ministry of Finance News
Ministry of Finance
Thinking of slipping in those demonetised notes in your income tax returns? Think again
Wed, Dec 14, 2016
In a statement on Wednesday, Ministry of Finance said that a 'Revised Return' can only be filed if any person, who has filed a return under section 139(1) of the Act or in response to notice u/s 142(1), discovers any omission or any wrong statement therein.
India signs $5.19 million grant agreement with IBRD for MSMEs
Tue, Dec 13, 2016
The parent project -- India: Financing Energy Efficiency at MSME Project (FEEMP) - became effective on September 29, 2010.
Demonetisation impact: Direct, indirect tax collections in November drop
Fri, Dec 09, 2016
The Central Board of Excise and Customs (CBEC), also released indirect tax collection data.
Jan Dhan inflows decline after govt alert on converting black money
Wed, Dec 07, 2016
The Ministry also said that the Income Tax Department has identified the local clusters and bank branches where the inflow of Jan Dhan deposits have been more than normal.
Demonetisation: Govt suspended 27 bank officials for irregular activities
Fri, Dec 02, 2016
The Ministry also warned individuals involved in unauthorised activities.
No tax on jewellery purchased out of disclosed income under new Bill, FinMin clarifies
Thu, Dec 01, 2016
The Lok Sabha on Tuesday passed by a voice vote a bill to amend the income tax laws.
Ministry of Finance invites suggestions for Budget 2017-18
Tue, Nov 29, 2016
The Budget is expected to unveiled on February 1.
Government dated securities takes gross borrowings to 56.8% of Budget Estimates
Mon, Nov 28, 2016
The panel said, “Liquidity conditions in the economy remained comfortable and in surplus mode during the quarter.”
Exchange of old notes over the counter ends today
Thu, Nov 24, 2016
As per the Ministry, the suspension decision was taken after considering decline in trend.
Demonetisation: Finance Ministry allows farmers to buy seeds using old notes
Mon, Nov 21, 2016
The Ministry has ensured that the farmers will be suitably facilitated during the Rabi season.
Nearly Rs 50 crore robbed from banks between April to June this year
Fri, Nov 18, 2016
The State Bank of India reported second highest amount involved in robbery, Rs 12.91 crore.
10 more days to use Rs 500, 1000 notes at Govt hospitals, petrol pumps
Mon, Nov 14, 2016
Finance Ministry on Sunday late night said that old currencies of Rs 500 and Rs 1,000 denominations will be accepted for another 10 days at government hospitals, petrol pumps and toll booths. Exchange of these notes at specified places was earlier allowed only up till November 11.
Demonetisation aftermath: Rs 3 lakh crore collected so far
Mon, Nov 14, 2016
During the first four days - from November 10 – November 13, 2016 till 5 pm, nearly Rs 3 lakh crore of old notes have been deposited in the banking system, Ministry of Finance said.
FinMin ask banks, LIC to keep watch on Tata group developments
Sun, Nov 06, 2016
In Tata Power LIC owns 13.1% stake, 7.13% in Tata Motors, 8.8% in Indian Hotels and 9.8% in Tata Global Beverages.
Largest ever haul: DRI seizes Mandrax worth Rs 3000 crore
Wed, Nov 02, 2016
The seizures of Methaqualone is largest not only in India but also in the world, the Ministry confirmed.
Govt to repurchase Rs 20,000 crore of bonds in reverse auction: FinMin
Sat, Oct 22, 2016
Auction for securities will be on price-based auction format.
Govt continues crackdown on gold smuggling with Rs 13 crore seizure
Mon, Oct 17, 2016
20 bars of gold are of 1 kg each with foreign markings and of 995 purity.
Direct Tax collection rises to Rs 3.27 lakh crore till September: FinMin
Mon, Oct 10, 2016
As per the Ministry, till September, 38.65% of the Budget Estimates of direct tax fpr FY17 has been achieved.
Indirect tax collection rose by 25.9% in Sept: FinMin
Mon, Oct 10, 2016
Till September, 52.5% of the Budget Estimates (BE) of indirect taxes for the current financial year has been achieved, Ministry of Finance said.
Income Tax Dept to be "open" till midnight on Sept 30
Tue, Sep 27, 2016
Central Board of Direct Taxes (CBDT) will be open and working till midnight of September 30, 2016, it said in a statement.