Nirmala Sitharaman
The government was of the blocks on day one and set the ball rolling on manifesto promises such as pension schemes for farmers, small traders and unorganised workers, the extension of PM-KISAN to all farmers, and setting up of a Jal Shakti Ministry. (Representational image)
21 Jul 2019 5:11 PM

Government spelt out its key priorities in the budget which was focused for making India a USD 5 trillion economy.

High-end phones that are getting sold in the grey market are estimated to cause a loss of Rs 2,500 crore annually on account of non-payment of basic customs duty (BCD) and also goods and services tax, said ICEA Chairman Pankaj Mohindroo.
21 Jul 2019 3:37 PM

The industry body has suggested imposing a maximum customs duty of Rs 4,000 on handsets priced above Rs 20,000.

Finance Minister Nirmala Sitharaman.
19 Jul 2019 1:27 PM

RBI has opened an indirect liquidity window to aid banks to give funds to the sector, which is facing a severe liquidity crisis.

The amendment, along with 28 others, were approved by a voice vote by the Lok Sabha, which passed the Finance Bill 2019. (Representational Image)
19 Jul 2019 9:43 AM

Two per cent tax will be charged if aggregate cash withdrawal from one or more accounts exceeds Rs 1 crore.

The AISAM panel would be meeting soon, most probably after the conclusion of the ongoing Parliament session on July 26. (Representational Image)
18 Jul 2019 3:55 PM

The AISAM has been reconstituted. It is now a four- member panel, against five members earlier, said a source.

The changes would ensure that indirect taxation-related matter would have greater simplicity and be effective, said Finance Minister Nirmala Sitharaman.
18 Jul 2019 3:01 PM

The government would also be bringing changes to seven laws related to direct taxes.

NPAs of scheduled commercial banks (SCBs), after reaching a peak of Rs 10,36,187 crore as on March 31, 2018, have declined by Rs 1,02,562 crore to Rs 9,33,625 crore as on March 31. (Photo: Representational/PTI)
16 Jul 2019 4:09 PM

Govt has instituted a comprehensive 4R's strategy for recognition of non-performing assets (NPAs) transparently.

Tax rate of someone earning 20 million rupees up to 39 per cent, and for those earning more than 50 million rupees the rate climbs to at least 42.7 per cent.
16 Jul 2019 9:18 AM

Investors are threatening to pull funds from India unless rules are amended so that they won’t take a tax hit.

The budget plan “seems to have inadvertently” pulled foreign portfolio investors (FPI) into the tax net and must be clarified by the government, said K R Sekar, a partner at Deloitte Touche Tohmatsu India LLP.
12 Jul 2019 3:41 PM

Global and non-resident investors make investments in India via so-called association of persons (AOP) and non-corporate trusts.

Finance Minister Nirmala Sitharaman.
12 Jul 2019 12:08 PM

India expects to rake in 24.6 trillion rupees (USD 358.97 billion) in gross tax revenue in 2019-20.

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