Finance Ministry | The Asian Age

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Swadeshi Jagran Manch (SJM), the economic wing of the RSS, has opposed the idea of issuance of sovereign bonds overseas.

PMO asks FinMin to conduct detailed study on issuance of overseas sovereign bonds

India's sovereign external debt-to-GDP level is among the lowest globally at less than 5 per cent.

26 Jul 2019 9:11 AM

Garg was replaced by Department of Investment and Public Asset Management (DIPAM) Secretary Atanu Chakraborty in a major bureaucratic reshuffle. (Photo: File)

Finance Secretary Garg seeks retirement after being shifted to Power Ministry

Subhash Chandra Garg, the senior-most bureaucrat in the Finance Ministry, was in charge of the Department of Economic Affairs.

25 Jul 2019 2:24 PM

On consignment basis for exhibition would not in itself constitute a supply under GST since there is no consideration received at that time, but such goods would need to be accompanied by a 'delivery challan'.

Taking goods abroad for exhibitions will not have to generate tax invoice

Goods taken abroad in this manner are required to be either sold or brought back within a period of 6 months from the date of removal.

23 Jul 2019 10:35 AM

The exemption from GST on maintenance charges charged by an RWA from residents is available only if such charges do not exceed Rs 7,500 per month per member.

18 pc GST on flat owners paying monthly maintenance of over Rs 7,500

Tax liability would be calculated for a person who owns two or more flats in the housing society or residential complex.

23 Jul 2019 8:49 AM

The information law suddenly widened the scope for democracy and empowered citizens in relation to governments.

RTI Act changes ill-advised

Central ICs had the status of election commissioners, and state ICs the status of chief secretary in salary and allowance matters.

23 Jul 2019 12:05 AM

The finance ministry has banned entry of even GOI accredited media persons to enter the ministry without prior appointment or approval.

Journalists meet PCI over finance ministry curbs

The finance ministry has banned govt-accredited mediapersons from entering the ministry without prior appointment.

12 Jul 2019 4:33 AM

The deposits in the account of the beneficiaries, which has been steadily rising, was Rs 99,649.84 crore on June 6 and Rs 99,232.71 crore. (Photo: PTI)

Deposits in Jan Dhan accounts cross Rs 1 lakh crore

Over 50 per cent of the Jan Dhan account holders are women.

10 Jul 2019 12:52 PM

The effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent.

Govt to soon issue clarification on applicability of surcharge on FPIs: Finmin

FM Sitharaman proposed to increase surcharge from 15 pc to 25 pc on taxable income between Rs 2 cr and Rs 5 cr.

09 Jul 2019 8:30 AM

The tea body said that the imposition of two per cent TDS would compromise with the liquidity position of the tea estates.

Tea industry seeks exemption of TDS on cash withdrawal

The tea body said that the wages paid to the tea garden workers were both in cash and in kind.

06 Jul 2019 2:56 PM

IPAM raised Rs 45,080 crore during 2018-19 from CPSE ETF and Bhrarat-22 ETF.

Economic Survey: FinMin makes progress in strategic sale of 28 CPSEs

DIPAM had raised about Rs 85,000 crore from CPSE disinvestment in 2018-19.

04 Jul 2019 3:45 PM

Ministry said information in form GSTR-1, GSTR-3B and books of accounts should be synchronous and the values should match across different forms and the books of accounts.

Biz to declare mismatch in GST returns form: Finance ministry

The last date for filing annual return in August-end.

04 Jul 2019 9:53 AM

While the GST collections in June were lower than Rs 1,00,289 crore in May, they were higher than Rs 95,610 crore receipts in the same month of the previous year. (Photo: Representational)

GST collections dip below Rs 1 lakh crore mark in June

The collections comprise of receipts by both the centre and state governments of GST.

01 Jul 2019 5:33 PM

The government circular is applicable to personnel of all ranks from Army, Air force and Navy.

Only disabled servicemen to get tax-free pension: FM

The pension will be not be tax-free for those defence forces personnel who retired from their services or attained superannuation.

25 Jun 2019 2:36 AM

Nearly 28.27 per cent of the outstanding dated securities had a residual maturity of less than 5 years.

Govt's total liabilities rise to Rs 84.68 lakh crore at end-March 2019

Public debt accounted for 89.5 per cent of the total outstanding liabilities at end-March 2019.

22 Jun 2019 12:27 PM

Finance Minister Nirmala Sitharaman. (Photo: Twitter/ANI)

FM discusses budget proposals with financial sector regulators

The Council also held consultations to obtain inputs and suggestions of the financial sector regulators for the Budget.

20 Jun 2019 10:28 AM

GDP growth has slipped to 5-year low of 6.8%, in addition, public sector banks will need capital for credit growth

FinMin assessing capital needs of PSBs; Budget may make provision for Rs 30,000 cr

The government made record capital infusion of Rs 1,06,000 crore in the public sector banks last fiscal.

17 Jun 2019 11:17 AM

A major portion of the .... (non-core) government assets is in the form of land and buildings, for the monetisation of which this RFE is being floated, DIPAM said.

Finance Ministry seeks consultants for sale of PSU land, buildings

The government is targeting to raise Rs 90,000 crore through CPSE disinvestment in current financial year.

10 Jun 2019 6:08 PM

About 20 per cent of the gross salary subject to a maximum limit of, say, Rs 1,00,000 could be considered for the purpose of standard deduction.

Assocham for raising tax exemption limit to Rs 5 lakh in Budget

The government is scheduled to present its first full Budget on July 5, for the current financial year.

09 Jun 2019 11:19 AM

Banks were asked to examine all NPA accounts over Rs 50 crore from possible fraud angle and proactive action were taken against wilful defaulters.

RBI data on bank frauds on basis of reporting year, not occurrence date: FinMin

RBI in an RTI reply had disclosed that over 6,800 cases of bank fraud involving an unprecedented Rs 71,500 crore were reported in 2018-19.

05 Jun 2019 9:27 AM

With a government in place now, a full year budget will be presented by the new Finance Minister Nirmala Sitharaman, as the domestic economy suffered its worst slowdown in five years. (Photo: File)

Finance Ministry in 'Quarantine' from Monday as preparation for budget begins

The Ministry will be out of bounds for visitors and media as it gets down to prepare the Budget for 2019-20 fiscal year.

04 Jun 2019 6:55 PM

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Syed Ata Hasnain