The Ministry of External Affairs (MEA) today said that the letter of Russian Ambassador to India over the cash crunch has been referred to the Department of Economic Affairs, Ministry of Finance, and assured that all problems will be taken care of.
The Ministry of Finance today said that approximately Rs 2000 crore of untaxed income has been disclosed since demonetisation. In a statement issued today, the ministry said that the Income-Tax department probed over 400 cases
The government on Sunday revised upwards the amount of black money disclosed under Income Declaration Scheme (IDS) to Rs 67,382 crore, even as it did not take into account two high-value disclosures.
the government said that jewellery and gold in all its form purchased out of disclosed income or legally inherited from ancestors is not chargeable to tax under the amended I-T law
Finance ministry today said those indulging in money laundering activities and converting their ill-gotten money into white will not be spared as law-enforcement agencies are already chasing such trails.
The government today clarified that there was no new provision introduced in the amendments to the Income Tax laws regarding chargeability of tax on gold and jewellery.
In further crackdown on black money, the Narendra Modi government may consider imposing curbs on domestic holdings of gold, according to finance ministry sources. However, when a finance ministry spokesman was asked about the same,
The government has constituted a committee comprising Additional Secretaries, Joint Secretaries and Directors to know the status of implementation of its recent decision to scrap Rs 500 and 1,000 notes.
the Finance Ministry on Friday said there was no move to seal bank lockers nor was it true that the ink of the new Rs 2,000 notes has been bleeding in some cases.
The Election Commission has asked the Finance ministry not to use indelible ink in banks as it might create problems in states going to polls.
As the long queues outside banks and ATMs continue creating chaos among cash strapped people, the government has taken several steps to smoothen the exchange and deposit of scrapped Rs 500 and Rs 1000 notes.
Taking into account the hardships faced by millions of Indians post the demonetisation move, the government today resorted to provide slight relief to the citizens standing in bee lines of ATMs and banks. In the
Direct tax collection was up by 10.6 per cent to Rs 3.77 lakh crore while the indirect tax collection jumped by 26.7 per cent to Rs 4.85 lakh crore during the April to October period this year
The government has declined to shares reports reports submitted to it nearly three years ago on the quantum of black money held by Indians inside the country and abroad.
In biggest ever security breach of over 32 lakh debit cards of various banks, several banks have recalled a large number of cards while others such as, HDFC Bank, have urged customers to change their
In the midst of fear due to security breach of over 32 lakh debit cards of various banks, Finance Ministry on Thursday sought to calm people down by saying that they constitute only a small
The Finance Ministry has warned tax officials of disciplinary action if they go ahead with planned protests, including taking mass casual leave, on the budget day.
The parliamentary panel on finance has decided to examine the Cabinet approved merger of Railway Budget with General Budget along with its "ramifications thereof". Putting an end to a 92-year-old practice, the Cabinet had
The Finance Ministry today expressed concerns about the methodology used by credit rating agency Moody's.
The Union Cabinet will today consider the Ministry of Finance’s proposals to merge Railway Budget with the General Budget and advancing the date of its presentation.
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