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Ministry Of Finance

ELSS Funds: Providing Twin Benefits Of Equity Returns And Tax Benefits, Here’s How They Performed

ELSS funds come with tax saving benefits and a 3-year lock-in period. Here’s how they performed over a one-year and three-year investment tenure and how you too can exploit the twin benefits of tax-saving along with equity...

17 July 2023

Ministry of finance

Centre Clears Rs 56,415 Cr To 16 States For Capital Investment Under Special Assistance Scheme

In order to boost capital spending by states, the 'Special Assistance to States for Capital Investment 2023-24' scheme was announced in the Union Budget 2023-24. Under the scheme, special assistance is being provided to the...

26 June 2023

Fiscal Deficit

India’s FY23 Fiscal Deficit Falls To 6.4%, Meets Government Target

Unveiling the revenue-expenditure data of the Union government for 2022-23, the Controller General of Accounts (CGA) said that the fiscal deficit in absolute term was Rs 17,33,131 crore

31 May 2023

Bank Of India Starts Offering Mahila Samman Savings Certificate Account At All Branches

Bank of India is the first bank to offer Mahila Samman Savings Certificate at all its branches

05 July 2023

Credit Cards

Clarification On Applicability Of TCS On Overseas Credit Card Spends Soon: Official

Finance ministry joint secretary (Tax Policy and Legislation) Raman Chopra said the government would soon issue a clarification on the mode of applicability of the TCS provision

09 June 2023

Finance Ministry

Banks Need To Improve Digitalisation And Keep Vigil On Stressed Asset: MoS Finance

MoS Finance Bhagwat K Karad said banks should do timely recognition of non-performing assets

29 May 2023

Credit Card

New TCS Rule: No 20% TCS On Overseas Credit Card Spending, Foreign Remittances Up To Rs 7 Lakh

The Finance Ministry extended the timeline to implement the increased proposed TCS rates with effect from 1 October instead of 1 July this year

29 June 2023

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CBDT

IT Exemption Limit For Leave Encashment Upon Retirement For Salaried Employees Hiked To Rs 25 Lakh

The CBDT said the aggregate amount exempt from income tax under section 10(10AA)(ii) shall not exceed the limit of Rs 25 lakh, where any such payments are received by a non-government employee from more than one employer

25 May 2023

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25 May 2023
Angel Tax: CBDT Lists 21 Nations For Whom Start-Up Investment Norms Will Be Eased

Angel Tax: CBDT Lists 21 Nations For Whom Start-Up Investment Norms Will Be Eased

Earlier, the government bought overseas investment in unlisted closely held companies, except DPIIT recognised startups, under the Angel Tax net


25 May 2023
Finance Ministry Agrees To Allow Highway Contractors To Convert Bank Guarantees Into Surety Bonds, Says Nitin Gadkari

Finance Ministry Agrees To Allow Highway Contractors To Convert Bank Guarantees Into Surety Bonds, Says Nitin Gadkari

Union Minister Nitin Gadkari had recently said changes will be made to the surety bond offering to make it more lucrative as no contractor is buying it because...


17 May 2023
Mahila Samman Savings Certificate Gets Exempted From TDS On Interest Earnings

Mahila Samman Savings Certificate Gets Exempted From TDS On Interest Earnings

The Mahila Samman Savings Certificate scheme, which is aimed at encouraging more women towards investing, has received a tax deducted at source exemption on...


16 May 2023
Finance Ministry Stands By 2021 Parliament Reply That SEBI Was Investigating Adani Group 

Finance Ministry Stands By 2021 Parliament Reply That SEBI Was Investigating Adani Group 

The damning January 24 report of US short seller Hindenburg had alleged that some of these funds based out of Cyprus and Mauritius were proxies of Adani's that...


04 May 2023
Students Can Use This Govt Portal For Education Loans From Banks, NBFCs

Students Can Use This Govt Portal For Education Loans From Banks, NBFCs

The Vidya Lakshmi portal can help save time and money when researching and applying for an educational loan. Read on to learn more about this government portal


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02 May 2023
PM Modi Praises Rising Tax Collection As April 2023 Sees Highest Ever GST

PM Modi Praises Rising Tax Collection As April 2023 Sees Highest Ever GST

April 2023 sees the highest-ever GST collection of Rs 1.87 lakh crores. Prime Minister Narendra Modi praises the rising nature of the tax collection graph.


02 May 2023
Here’s Where Your Large-Cap Fund Manager Is Investing

Here’s Where Your Large-Cap Fund Manager Is Investing

Active large-cap mutual funds invested more of their funds in banks, IT, and crude oil. Here’s how much these sectors received and why


27 April 2023
Atal Pension Yojana Enrolments Cross 5.2 Crore Mark: PFRDA

Atal Pension Yojana Enrolments Cross 5.2 Crore Mark: PFRDA

The positive growth in the number of subscribers has been attributed to the scheme’s numerous outreach programmes spanning various locations across India.


30 March 2023
Govt To Borrow Rs 8.8 Lakh Crore In H1FY24: Finance Ministry

Govt To Borrow Rs 8.8 Lakh Crore In H1FY24: Finance Ministry

The Ministry of Finance clarified that the issuance of sovereign green bonds (SGBs) will be officially announced in the second half of FY24 (H2FY24)


18 March 2023
Treat Customer As God: MoS Finance To Banks

Treat Customer As God: MoS Finance To Banks

The banking industry needs to serve small and marginal farmers, youth and women agripreneurs and act as catalyst for growth


04 February 2023
Need For Sustainable Monetary And Technological Resources To Tackle Climate Change: Sustainable Finance Working Group G20 Meet

Need For Sustainable Monetary And Technological Resources To Tackle Climate Change: Sustainable Finance Working Group G20 Meet

A broad agenda was set during the two-day meeting which will be deliberated upon further and finalised during the next set of meetings of the SFWG that will...


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04 February 2023
Mobilising Funds, Tech For Sustainable Climate Finance, Capacity Building Focus At G20 Meet

Mobilising Funds, Tech For Sustainable Climate Finance, Capacity Building Focus At G20 Meet

A broad agenda was set during the two-day meeting which will be deliberated upon further and finalised during the next set of meetings of the SFWG that will...


01 February 2023
BJP Hails Budget As All-Inclusive, Opposition Slams It For Ignoring Unemployment, Helping Friends

BJP Hails Budget As All-Inclusive, Opposition Slams It For Ignoring Unemployment, Helping Friends

Congress leader Rahul Gandhi said the Union Budget 2023-24 helped the rich friends of the government and Trinamool Congress supremo and West Bengal CM Mamata...


01 February 2023
Budget 2023-24: How FM Sitharaman Checks Fiscal Deficit, Addresses Key Blocs In Run-Up To 2024 Polls

Budget 2023-24: How FM Sitharaman Checks Fiscal Deficit, Addresses Key Blocs In Run-Up To 2024 Polls

The year 2023 has eight assembly elections, including in the battleground states of Rajasthan, Chhattisgarh, and Karnataka. These elections will set the tone...


01 February 2023
There Is Adequate Capacity To Absorb Additional Capex, Says Finance Secretary TV Somanathan  

There Is Adequate Capacity To Absorb Additional Capex, Says Finance Secretary TV Somanathan  

Budget 2023: For the ongoing financial year, capex target was set at Rs 7.5 lakh crore and included Rs 1 lakh crore as a capex-only, interest-free loan to...


01 February 2023
Budget 2023-24 Will Drown Country In Debt, Only Help Super-Rich: AAP's Manish Sisodia

Budget 2023-24 Will Drown Country In Debt, Only Help Super-Rich: AAP's Manish Sisodia

Aam Aadmi Party (AAP) leader Manish Sisodia said the Union Budget 2023-24 has nothing for employment generation or controlling inflation.


01 February 2023
Union Budget 2023-24: 5 Big Changes In Income Tax Announced

Union Budget 2023-24: 5 Big Changes In Income Tax Announced

Union Minister of Finance Nirmala Sitharaman announced a slew of measures with a major emphasis aimed at popularising the new tax regime, by increasing the...


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