Category: Finance Ministry
Chit Funds (Amendment) Bill 2018 Notification. Bill for strengthening and streamlining of the registered Chit Fund sector The Chit Funds Act, 1982 was enacted to provide for the regulation of chit funds which are indigenous business in India and have conventionally satisfied the financial needs of the low-income …
Agreement with other Countries on Money Laundering Information. Indian Government has entered into agreements with over 130 countries including tax havens The Government of India has entered into Double Taxation Avoidance Agreements (DTAAs), Tax Information Exchange Agreements (TIEAs) and Multilateral Convention on Mutual Administrative Assistance in Tax Matters …
Govt. constitutes Steering Committee on Fintech related issues The Government has constituted a Steering Committee on Fintech related issues to consider various issues relating to development of Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship in an area …
Electoral Bond Sale at authorised four branches of SBI. First sale to start from 1st March 2018 for 10 days up to 10th March 2018. The Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification S.O. No.29 (E) dated 02nd January 2018. As per provisions …
Bill to ban Unregulated Deposit Schemes and Chit Funds Amendment Bill, 2018. Words “Fraternity Fund” to be used for chit business. Cabinet approves New Bill In a major policy initiative to protect the savings of the investors, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi …
No proposal to withdraw protection against attachment of PPF Account under any decree or court order in respect of any debt/liability of depositors-Amendments in Small Savings Act. Yesterday, the Ministry of Finance by a press release denied the news circulated in print and social media that it aims to bring …
GST data reveals 50 percent increase in number of Indirect Taxpayers as per Economic Survey 2017-18. Bird’s-Eye View of the Indian Economy through the GST Economic Survey 2017-18 has revelaed that Maharashtra, Gujarat, Karnataka, Tamil Nadu & Telangana account for 70% of India’s exports India’s internal trade in …
Economic Survey 2017-18 draws Attention to 10 New Economic Facts on Indian Economy The Economic Survey 201-18 has been presented by the Union Finance Minister Shri Arun Jaitley in Parliament today. The Finance Minister has relied upon analysis of the new data to highlight ten new economic facts as under: Goods …
Reporting of U S Tax Identification Numbers (TINs) for pre-existing accounts by Financial Institutions In USA, a Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. It is issued either by the Social Security Administration (SSA) …
News on no free services by banks from 20th January is fake-Finance Ministry According to news in circulation in social media, from 20th January, 2018 Banking Regulations are going to change resulting in discontinuance of various free services. The viral news created a confusion in the public The …
