Ministry of Finance: News
03 Sep 2017
IndiaDemonetization: 22.22 lakh tax evaders deposited over Rs. 2L crore!
Analysis of Finance Ministry data has revealed shocking findings: a total of 22.22 lakh entities (individuals+firms), who had never filed tax returns ever, had deposited a combined amount of over Rs. 2L crore post demonetization.
02 Sep 2017
Income Tax Department of IndiaDeadline to file I-T returns extended to 31st October
Easing the stress of many tax payers, the Finance Ministry extended the last date to file the Income Tax returns.
30 Aug 2017
India1,000 rupee notes will not be re-introduced, says FinMin
Since there had been disequilibrium in the market after the introduction of Rs. 2,000 notes straight after Rs. 500, the center has recently introduced the new Rs. 200 notes.
21 Aug 2017
IndiaSBI tops list of wilful default, PNB next
India's largest lender SBI is shouldering 27% of the total amount that wilful defaulters owe to the public-sector banks.
20 Aug 2017
IndiaRepay loans or lose ownership: Jaitley tells companies
Finance Minister Arun Jaitley has warned companies against defaulting on loans, asking them either to pay up or possibly lose ownership.
08 Aug 2017
Central Board of Direct Taxes (CBDT)Finance Ministry celebrates demonetization's success as I-T filings rise
The Finance Ministry announced that, as of 5th August, there had been a 25% increase in e-filing of income tax returns for the current assessment year along with other increases in tax collection.
05 Aug 2017
IndiaBharat 22 ETF gets created for government's disinvestment program
Calling it the most significant announcement made this year on the stake divestment program of the NDA government, Union Finance Minister Arun Jaitley said that the center has now created a new ETF named Bharat 22.
28 Jul 2017
FacebookProject Insight: Your Facebook/Instagram post can soon detect tax frauds
Data analytics is one of the most lucrative career options in today's age. But most Indians probably weren't expecting the government's plans with it.
23 Jul 2017
Supreme Court Of IndiaUnaccounted income of Rs. 71,941 crore found: Govt. tells SC
The Income Tax (I-T) department over the past three years have detected sum of Rs. 71,941 crore of undisclosed income as reported by the government to Supreme Court.
12 Jul 2017
IndiaFood offered at religious places exempted from GST: Finance Ministry
The Finance Ministry on Tuesday issued a clarification stating that free food offered at 'anna kshetras' was exempt from GST.
11 Jul 2017
PAN CardAaykar Setu: Pay taxes, apply for PAN using FinMin's app
FinMin Arun Jaitley launched 'Aaykar Setu', an app to bridge the gap between a taxpayer and the Income Tax department.
10 Jul 2017
IndiaWill GST be levied on gifts from employers?
It's been nearly 10 days since Goods and Services Tax, India's most ambitious tax reform, was launched.
08 Jul 2017
India7th Pay Commission: Revised allowances for govt employees from July
In a move that would benefit over 48 lakh central government employees, Finance Ministry asked Central Ministries and Departments to ensure the Cabinet-approved revised allowances are paid from July.
05 Jul 2017
Narendra ModiCentre defends 'high' GST rates on sanitary napkins, disability aids
The Centre came under criticism for implementing a 12% tax on sanitary pads and 5-15% tax on disability aids under GST.
03 Jul 2017
Indian GovernmentMyths surrounding GST won't be tackled by the government
Amid reports of the government taking stringent action against small and huge companies which are not passing on the benefits to their consumers or rising prices disproportionately, the government came out with a message that it won't force firms to decrease prices immediately.
27 Jun 2017
IndiaGST Rollout: 10% duty to be levied on imported smartphones
Under the new GST regime which will kick in from 1st July, the government announced that it would slap a customs duty of at least 10% on imported smartphones.
27 Jun 2017
Reserve Bank Of India (RBI)Finance ministry to RBI, extend deadline for Basel III norms
Although RBI had extended the deadline for implementation of Basel III banking norms from March 2018 to March 2019, the finance ministry has now asked for another extension citing, banks at present have a higher capital requirement to handle NPAs.
21 Jun 2017
IndiaBanks can deposit demonetized notes with RBI till July 20
The Finance Ministry has asked banks and post offices to deposit old demonetized notes of Rs. 500 and 1,000 at the Reserve Bank of India (RBI) by July 20.
20 Jun 2017
IndiaThe little eatery in Bengaluru which accepts bitcoin payments
A little known fact about a rather popular Maharashtrian cuisine eatery in Bengaluru called Suryawanshi Restaurant is that it accepts bitcoin payments.
10 Jun 2017
IndiaGovt plans more SBI-like mergers to create global-sized banks
Reports say that the Finance Ministry is now planning to replicate the success it has made with SBI's merger with its five associate banks and Bharatiya Mahila Bank.
26 May 2017
GreeceFormer Greek PM Papademos injured in car explosion
Former Greek PM Papademos was injured after an explosive went off inside his car in Central Athens.
19 May 2017
IndiaCentre drafts Fugitive Economic Offenders Bill
In a move to punish high-profile defaulters and economic offenders who flee the country to avoid legal proceedings, the Centre has drafted the Fugitive Economic Offenders Bill.
20 Apr 2017
7th Pay Commission7th Pay Commission: Lavasa Committee on Allowances to submit report
The high-level Committee on Allowances headed by Finance Secretary Ashok Lavasa under the 7th Pay Commission is likely to submit its much-delayed report to Finance Minister Arun Jaitley this week.
19 Apr 2017
IndiaGovernment aims to raise Rs.72,500cr from disinvestment plan for 2017-18
The government kick-started the process of selling minority stake in seven PSUs, including blue-chips like Indian Oil Corporation and Steel Authority of India.
07 Apr 2017
BengaluruBengaluru cabs may go off roads from Saturday
Transport associations said if the Centre doesn't withdraw its hike in insurance premiums, drivers of Ola, Uber, airport, tourist and contracted taxis would join the strike.
19 Feb 2017
GSTService tax officials summon GSTN chief on evasion charges
The service tax department has summoned Prakash Kumar, CEO of Good and Service Tax Network (GSTN), for possible evasion of tax on software services received from IT major Infosys. However, Kumar has denied receiving any such notice from the tax department.
13 Feb 2017
All India Institute Of Medical Sciences (AIIMS)IGI becomes world's 12th busiest airport, records highest growth rate
The IGI has become the only Indian airport to enter the world's top-15 league, becoming the 12th busiest airport in November'16, a Civil Aviation Organization report has revealed.
13 Jan 2017
IndiaDemonetization seems to have hit agriculture the hardest
After two consecutive drought years, 2016 was expected to be a relatively better year for India's farmers till 8 Nov'16.
17 Nov 2016
IndiaCabinet slots Union Budget on 1 February, increases wheat prices
The Indian government has slated the Union Budget for 1 February, marking a move against a colonial-era tradition of presenting the budget on the last day of February.
27 Sep 2016
IndiaRBI seeks regulator for spot exchanges
RBI has requested the Finance Ministry to appoint a regulator for monitoring spot exchanges in the country.
21 Sep 2016
Indian Administrative Service (IAS)Central Government on the lookout for SEBI's next Chair
On 19th September, 2016, the Finance Ministry welcomed applications for the post of Chairman of the Securities and Exchange Board of India (SEBI).
05 Sep 2016
Suresh PrabhuProposal for $5 billion railway development fund
The Railway Ministry is on the verge of finalizing a proposal for the Railways of India Development Fund (RIDF).
