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Reserve Bank of India

14 Nov 2022

Are you also spotting fewer Rs 2000 notes in market? Know reason behind it

In 2018, there were 3,362 million pieces of Rs 2000 denomination banknotes in circulation. In 2020, the Rs 2000 notes in circulation came down to 2,739.8 million pieces The Rs 2000 currency notes in circulation declined from 3,362 million pieces in 2018 to 2,142 million pieces in 2022.

Ministry of Finance

09 Oct 2022

Now you can register your grievances related to pension with THIS helpline no.

Toll-free numbers and voicemail services have been launched for Pensioners. Earlier, Pensioners need to visit centres to register their concerns. The service will ensure quick disposal of grievances.

senior citizens savings scheme

30 Sep 2022

Senior Citizens Savings Scheme: Centre makes 'BIG' clarification for investors

The SCSS account can be opened with a minimum deposit of Rs 1,000. Senior Citizens’ Savings Scheme (SCSS) comes with a maximum deposit amount of Rs 15 lakhs The investors of the SCSS can also claim a tax benefit Under Section 80C of the Income Tax Act, 1961.

Ministry of Finance

03 Mar 2022

Huawei accused of tax evasion by Indian government: Report

The company reportedly showed expenses of Rs 4.8 crore that the firm failed to justify. The government allegations follow raids by its income tax authorities last month at Huawei's office premises.

GST collections

01 Sep 2021

GST collection tops Rs 1 lakh crore for 2nd straight month in August

The mop up in August is, however, lower than Rs 1.16 lakh crore collected in July 2021. The revenues for the month of August 2021 are 30 per cent higher than the GST revenues in the same month last year. In August 2020, Goods and Services Tax (GST) collection was Rs 86,449 crore.

Bharatiya Pensioners Manch

29 Aug 2021

Exempt pension from income tax: Pensioner body to PM Modi

The body said, "We are sorry to say that nothing has been done so far in this regard." The body also referred to an apex court order where the Supreme Court had held that pension is valuable right vested in a government servant. Bharatiya Pensioners Manch has urged Prime Minister Narendra Modi to exempt pension from income tax.

Ministry of Finance

14 Jul 2021

Import duty, GST to be waived for world’s most expensive drug for 2-year-old

A two-year-old is set to get world's most expensive drug Finance ministry has decided to waive off import duty

10 Jul 2021

'CoWIN freely available to all countries,' says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has offered to share the CoWIN platform with other nations for free She said that humanitarian needs outweigh commercial benefits She was participating on the second day of the ongoing G20 Finance Ministers and Central Bank Governors Meeting

FM Nirmala Sitharaman

28 Jun 2021

Atmanirbhar Bharat Rozgar Yojna to be extended till March 31: FM Sitharaman

About 21 lakh new recruits are benefitted so far from ARBY With an outlay of ₹22,810 crore, workers recruited from October 1, 2020 to June 30, 2021, were covered.

02 May 2021

Good news for businesses, taxpayers! Various GST relief measures announced

The Ministry of Finance announced a reduction in the rate of interest. The ministry has also announced a late fee waiver. Extension of several due dates has also been announced.

16 Apr 2021

Covid-19 scare! Will banks reduce working hours?

Bank unions are now showing their concerns towards bank employees. Bank unions are requesting safety measures for workers. UFBU also requested to allow bank employees to work from home.

Ministry of Finance

14 Oct 2020

Finance Ministry clarifies on misinterpretation of LTC stimulus, its benefits

"Everybody pays GST on their consumption unless they choose to buy without bills in black, a practice the Government obviously does not condone and which hopeful the ET does not want to encourage. Incidentally, the entitlements under the scheme have been worked out at full cost (i.e. including the GST element in fares)," stated the Finance Ministry.

Income Tax raids

17 Sep 2020

Jammu and Kashmir: Income Tax dept carries out raids on prominent hotelier

The search also revealed that the assessee’s children are studying in USA on whom expenditure of approximately Rs 25 lakh per annum is being incurred The expenditure on account of education in USA prima-facie appears to be unexplained/ undisclosed. Further, the assessee is also running a B-Ed College as a Trust along with his mother The Trust is not registered and no return is being filed for the Trust though it has substantial taxable income

Ministry of Finance

06 Sep 2020

No ban on recruitment for government jobs, Centre clarifies after row over Fin

The Ministry of Finance on Saturday tweeted that a circular issued by Department of Expenditure to cut official spending due to the economic crisis will not affect or curtail recruitment for government jobs. The clarification was issued by the Centre hours after Congress MP Rahul Gandhi targeted the Centre over the circular issued on Friday. The circular banned some non-developmental expenditures to "ensure availability of adequate resources for meeting the needs of critical priority schemes".

Gold bond scheme

13 Apr 2020

Govt to issue Sovereign Gold Bond 2020-21 from April 2020 to September 2020

The Reserve Bank of India will issue it on behalf of the Government of India.

Coronavirus COVID-19

30 Mar 2020

FinMin rebuts fake news, says no extension of India's Financial Year

Union Finance Ministry on Monday (March 30) denied the news circulating in some section of media that financial year has been extended, and termed it fake news amid the outbreak of coronavirus COVID-19.

01 Feb 2020

Budget 2020: FM announces new income tax slabs, simplifies direct tax regime

Finance Minister Nirmala Sitharaman today slashed the personal income tax rate for individuals for fiscal year 2020-21. Under the new regime, taxpayers will pay 10%, 15%, 20% and 25% for incomes between Rs 5-7.5 lakh, Rs 7.5-10 lakh, Rs 10-12.5 lakh and Rs 12.5-15 lakh.

01 Feb 2020

Budget 2020: Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance

Union Finance Minister Nirmala Sitharaman on Saturday morning reached the Ministry of Finance in the North Block, ahead of the presentation of the Union Budget 2020-2021 in Parliament.

10 Dec 2019

Centre says no official estimate of the amount of black money in India

Thakur was replying to a question by Congress Rajya Sabha MP Ranjib Biswal who demanded details from the Ministry of Finance regarding black money in India. The question asked the government to state the estimated amount of black money inside and outside the country, as on date.

30 Jan 2019

5W1H: Government to present interim budget on February 1

The Ministry of Finance has clarified that February 1 would see only an interim budget being announced by interim finance minister Piyush Goyal.

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