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Banks Board Bureau to be set up in four months: Finmin

Last week, Finance Minister Arun Jaitley in his Budget speech had announced setting up the autonomous Banks Board Bureau for helping lenders raise capital for meeting expansion needs. The post Banks...

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Public sector banks to raise Rs 1.10 lakh cr from markets in next four years

Earlier in the day, Finance Minister Arun Jaitley had sought Parliament nod for additional capital infusion of Rs 12,010 crore in public sector banks. The post Public sector banks to raise Rs 1.10 lakh...

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Govt issues norms for selection of CEOs of smaller PSBs

Earlier this week, financial services secretary Hasmukh Adhia had said that hiring of CEOs and managing directors in PSBs would be from existing public sector talent pool and not from outside. The post...

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Finance ministry gears up for budget as new team takes charge

Finance ministry is slated to start consultations on 2016-17 Budget with different ministries and government departments from 4 September. The post Finance ministry gears up for budget as new team...

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New revenue secretary bows to sieve out bad elements in tax department

Adhia said top attention would be given to creating transparency in the tax department through the use of information technology. The post New revenue secretary bows to sieve out bad elements in tax...

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Finance ministry secretaries take stock of economic state of affairs

The meeting took place even as China growth slowdown and lingering worries over monsoon tormented markets today when the benchmark BSE Sensex closed below the 25,000-mark for the first time in 15...

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Govt forms nine-member panel under former Delhi High Court judge to simplify...

Finance Minister Arun Jaitley said the main idea behind setting up the panel is to make the I-T Act more simpler. The post Govt forms nine-member panel under former Delhi High Court judge to simplify...

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Curbing domestic black money: PAN made compulsory for Rs 50000 hotel bills in...

Adhia said a distinction has been made in case of hotel and foreign travel bills of Rs 50,000 as they are luxury spending The post Curbing domestic black money: PAN made compulsory for Rs 50000 hotel...

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Budget 2016: Govt to present Budget 2016-17 on 29 Feb, says Jayant Sinha

Finance Minister Arun Jaitley in his second full-year budget is likely to focus on steps to accelerate economic growth that seems to have stagnated in 7-7.5 percent range amid a global slowdown. The...

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Govt to meet FY16 tax collection target of Rs 14.49 lakh crore

For the first time in five years, the government is likely to meet Rs 14.49-lakh crore budgetary tax collection target for 2015-16 with robust indirect tax mop up making up for the shortfall in direct...

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Retro tax returns to haunt Vodafone: How the case heightens the disconnect in...

The Income Tax department has issued a reminder notice to Vodafone over its Rs 14,200 crore tax dues, at a time when the government is on an overdrive to attract foreign capital into the country....

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Budget 2016: PPF stays on exemption list, only EPF interest to attract tax,...

Seeking to dispel fears of the salaried class, the government today said PPF will not be taxed on withdrawal and only the interest that accrues on contributions to employee provident fund made after...

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EPF tax relief, more funds for PSBs: What Budget 2016 did not reveal

The CNBC-TV18 Mint Budget Verdict saw MoS Finance Jayant Sinha with the secretaries of Departments of Revenue, Economic Affairs and Disinvestment giving out several headlines during this interaction....

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Taxing EPF: 11 clarifications only add to confusion; trade unions strike on...

The drama around EPF doesn't seem to end. Here's how it unfolded. In the Union Budget on Monday, finance minister Arun Jaitley announced that EPF contributions made after 1 April 2016 will no longer be...

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#EPFnotax: Online petition against taxing retirement funds goes viral

An online petition against retirement tax has gone viral on social media with nearly 3,000 signups seeking urgent and immediate withdrawal of EPF Tax just a day after it was announced in the Budget....

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Salaried class ko gussa kyun aata hai? With tax on EPF, it’s triple whammy on...

By Piyush Jain Salaried people are the only source of revenue for the government. They are low hanging fruits. The sole three-decade-old instrument that has been a primary source of retirement fund has...

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As opposition to #taxingEPF threatens to singe, Hasmukh Adhia says FM has...

New Delhi - Facing strong opposition from different quarters over the proposal to tax 60 percent of withdrawals from provident fund, the government issued detailed clarification on the matter on...

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Amnesty for evaders, burden for salaried: Why EPF tax must be scrapped

It wasn’t long ago when veteran industrialist Ratan Tata spoke about the government’s interference in people’s lives when he was addressing a group of students in Chennai. “...They (the government)...

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Black money battle: Adhia says India can scrap tax treaty with Cyprus

India's redrawn tax treaty with Mauritius to impose capital gains tax on investments from the island nation will not apply to existing holdings of P-Notes, Revenue Secretary Hasmukh Adhia said. The...

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PM Modi sets target to nearly double tax payer base to 10 cr from current 5.3 cr

The prime minister also asked the taxmen to remove the fear of harassment in the minds of the people and advocated what he termed as RAPID -- revenue, accountability, pribity, information and...

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