CBDT grants officials authority to waive or reduce interest payments
Nov 06, 2024, at 06:18 am
New Delhi: The income tax department has granted tax officials the authority to waive or reduce the interest payable by taxpayers, provided certain conditions are met, media reports said.
Union Finance Ministry highlights softer urban demand, factory output
Oct 29, 2024, at 06:15 pm
New Delhi/IBNS: The Union Ministry of Finance (MoF) on Monday (Oct. 29) highlighted emerging challenges in the Indian economy, including weakening consumer sentiment and declining urban demand, along with a slowdown in industrial activity.
May 25, 2024, at 06:17 pm
New Delhi/IBNS: The Indian Ministry of Finance on Friday exuded confidence about the country's economic resilience, amid global conflicts and commodity price spikes, reports said.
Customary halwa ceremony held to mark final stage of budget preparation
Jan 26, 2024, at 12:25 am
New Delhi: The Central government organised the customary halwa ceremony on Wednesday, which marks the final stage of the budget preparation process for the Interim Union Budget 2024.
Direct Tax collection in Oct FY24 crosses Rs 11.07 lakh cr
Oct 11, 2023, at 02:36 am
New Delhi: The gross direct tax collections in October, so far, surpassed Rs 11 lakh crore, reaching Rs 11.07 lakh crore, the Finance Ministry said in a statement on October 10.
Finance Ministry agencies confiscate immovable properties worth Rs 1.11 trn in 6 years
Mar 23, 2023, at 02:39 am
New Delhi: The enforcement agencies under the Finance Ministry have seized immovable assets worth around Rs 1.11 trillion during the last six years, the ministry informed Parliament.
Total govt debt widens to Rs 147.19 lakh crore in Q2FY23
Dec 28, 2022, at 03:46 am
New Delhi/IBNS: The government’s total liabilities widened to Rs 147.19 lakh crore at the September-end from Rs 145.72 lakh crore at the end of June this financial year, according to the latest finance ministry data.
RBI considers using images of Rabindranath Tagore, APJ Abdul Kalam on banknotes: Report
Jun 06, 2022, at 06:17 am
The Finance Ministry and the Reserve Bank of India are considering using watermark figures of two of India's greatest personalities Rabindranath Tagore and APJ Abdul Kalam on Indian currency notes, according to a media report.
Govt exploring all ways to buy crude oil at affordable rates, says Finance Ministry
Apr 08, 2022, at 06:45 am
New Delhi: The Centre is trying to find out "all viable options" to buy crude oil at affordable rates, the finance ministry said on Thursday.
Amid Covid pandemic, deadline for filing income tax returns extended till Sept 30
May 21, 2021, at 02:50 am
New Delhi/IBNS: As the country is raving under the heat of the second wave of Coronavirus, the Centre on Thursday extended the due date of filing income tax returns (ITR) for the financial year 2020-21 by two months till Sept 30 to give relief to taxpayers.
Finance Ministry and UNDP India collaborate to pormote sustainable finance in India
Sep 01, 2020, at 05:59 am
New Delhi/IBNS: The Department of Economic Affairs, Ministry of Finance, Government of India and United Nations Development Programme (UNDP) India have launched the Sustainable Finance Collaborative (SFC). The three-day consultation was held with the objective of bringing together leading experts and organizations to work together to boost the country’s efforts on mobilizing sustainable and green finance.
Aug 24, 2020, at 10:27 pm
New Delhi/UNI: On the occasion of the first death anniversary of former Finance Minister Arun Jaitley on Monday, the Finance Ministry highlighted 'positive changes brought forth under the Goods and Services Tax (GST) regime.'
Indian financial year not being extended: Indian Government
Mar 31, 2020, at 09:52 am
New Delhi/IBNS: Refuting media reports, the Ministry of Finance has said India's financial year has not been extended till June this year when the nation is fighting against the COVID19 outbreak.
Autonomy of Reserve Bank is 'essential', says Centre
Oct 31, 2018, at 03:45 pm
New Delhi, Oct 31 (IBNS): The Indian government on Wednesday said the autonomy for the Central Bank, within the framework of the RBI Act, is an essential and accepted governance requirement.
Additional borrowing of Rs 20,000 cr Govt Sec adequate to meet financing needs
Jan 17, 2018, at 08:01 pm
New Delhi, Jan 17 (IBNS): The Union Ministry of Finance said on Wednesday that in December, the Central government had announced that it will raise additional market borrowing of Rs 50,000 crore through dated Government securities in the current financial year, 2017-18.
Dec 12, 2017, at 09:25 pm
New Delhi, Dec 12 (IBNS): Apprehensions about the negative effects of certain tax demands on the Software Industry are without basis, the Union Ministry of Finance said in a release on Tuesday.
Oct 11, 2017, at 10:02 pm
New Delhi, Oct 11 (IBNS): The Union Ministry of Finance said on Wednesday that the provisional figures of Direct Tax collections up to September, 2017 show that net collections totaled Rs. 3.86 lakh crore, which is 15.8 per cent higher than the net collections for the corresponding period of last year.
RBI to introduce Rs. 200 notes soon
Aug 23, 2017, at 07:57 pm
New Delhi, Aug 23 (IBNS) : India is all set to get Rs 200 notes, for the first time ever as the Finance Ministry issued a notification on Wednesday making it a legal tender and paving the way for its circulation.
Government respects independence and autonomy of RBI, says Finance Ministry
Jan 15, 2017, at 02:10 am
New Delhi, Jan 14 (IBNS): The Ministry of Finance on Saturday said the government respected the 'independence and autonomy' of the Reserve Bank of India.
Indirect, direct tax collection up despite demonetisation says Finance Minister Arun Jaitley
Jan 09, 2017, at 08:24 pm
New Delhi, Jan 9 (IBNS): Union Finance Arun Jaitley said on Monday that indirect and direct tax collection has gone up during the first three quarters of the current fiscal despite demonetisation in November, according to media reports.
Disclosed, legally inherited gold not taxable says Finance Ministry
Dec 01, 2016, at 10:39 pm
New Delhi, Dec 1 (IBNS): The Union
Demonetisation: Over the counter exchange of old notes stopped from Thursday midnight
Nov 25, 2016, at 02:37 am
New Delhi, Nov 24 (IBNS): The over the counter exchange of old 500 and 1000 INR notes, which have been banned by the government in order to curb black money from the market, will be stopped from Thursday midnight, reports said.