Tag: Press Release
Tax rates for individuals having taxable income from Rs. 2 cr – 5 cr and Rs. 5 cr & above to be increased by around 3 % and 7 % respectively due to increase in surcharge. Direct Tax revenue increases by over 78 % in FY2018-19 from …
CBDT to reverse assessment proceedings completed based on controversial Circular 10/2018 on the subject of applicability of section 56(2)(viia) Central Board of Direct Taxes had issued Circular 10/2018 dated 31.12.2018 to clarify that provisions of section 56(2)(viia) of the Income-tax Act, 1961 being anti-abuse provisions shall not be …
CBDT has exempted 702 startups from angel tax u/s 56(2)(viib) of Income Tax Act. Startups receiving investments from Ventures Capital Fund are exempt from taxation as per provision of Section 56(2)(viib) of Income Tax Act 1961 (Act). Angel Fund is sub category of Ventures Capital Fund under Category-I …
Govt proposes to integrate FASTag Bank Mechanism with e-way bill to check GST evasion The Government proposes to integrate a FASTag Bank Mechanism with e-way bill and Logistic Data Services to track movement of goods and check GST evasion. The Government is contemplating integration of E-Way Bill mechanism …
Printing process for General Budget 2019-20 commences with Halwa Ceremony As per Press Release issued by the Finance Ministry, Halwa ceremony marking the commencement of Budget printing process for the General Budget 2019-20 was held in North Block today afternoon in the august presence of the Union Minister …
15 Senior IRS Officers compulsorily retired by the Government in public interest with immediate effect. Order in each case issued today Ministry of Finance Press Release 18th June 2019 In exercise of the powers conferred by Clause (j) of Rule 56 of the Fundamental Rules, the President of …
Smt. Nirmala Sitharaman takes charge as the Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman assumed charge as the Union Minister of Finance & Corporate Affairs here today. She was greeted at the office in North Block by Minister of State for Finance & Corporate Affairs …
Ministry of Statistics & Programme Implementation National Accounts Statistics: A clarification on the usage of MCA Corporate Database 1. This press release is being issued to clarify on the recent media reports on the usage of corporate sector database (Ministry of Corporate Affairs, MCA) in preparation of …
MCA database is a valuable addition to estimation of GDP-Government counters the media reports of untraceable companies quoting NSSO report The Central Statistics Office, four years back had made the MCA21 database a key component of GDP calculation in the new revised GDP series. Recently, as reported in …
Media report of reduction in numbers of e-filed ITR during FY 2018-19 incorrect says Finance Ministry. e-filing of Income Tax Returns registers an increase of 19%. There have been some incorrect reports in media pertaining to reduction in numbers of Income Tax Returns (ITR) e-filed during Financial Year …