On March 26, 2017 18:46 (IST)
Broadly, the policy should contain the processes relating to haircut and one-time settlement to be carried out by banks for faster resolution of high-value cases, the official said, adding that the big loan defaults constitute about 70 per cent of the total NPAs.
On March 26, 2017 17:30 (IST)
The Central Board of Direct Taxes (CBDT) on March 24 issued a circular for waiver of interest in disputed tax demand in different scenarios.
On March 24, 2017 15:48 (IST)
The broader Nifty ended 0.24 per cent higher at 9,106, while the benchmark Sensex settled 0.30 per cent higher at 29,421.40.
On March 24, 2017 13:34 (IST)
Buying was also seen in private lenders, with ICICI Bank trading 3.03 per cent higher and Axis Bank 0.83 per cent up.
On March 24, 2017 11:34 (IST)
Indian shares rose for a second consecutive session as lenders such as State Bank of India rallied after Finance Minister Arun Jaitley said the government would soon announce new measures to tackle non-performing assets (NPAs).
On March 26, 2017 15:38 (IST)
Finance Minister Arun Jaitley had announced a number of income tax changes in Budget 2017. In addition, some amendments were also introduced in the Finance Bill that was passed by the Lok Sabha.
On March 24, 2017 08:55 (IST)
Finance Minister Arun Jaitley, in his Budget for 2016-17, had provided for the seller to collect tax at the rate of 1 per cent from the purchaser on sale in cash of any goods or offering any services exceeding Rs 2 lakh.
On March 22, 2017 21:54 (IST)
"The Government will bring before Parliament four GST legislations and there will be a fifth legislation as Excise and Customs Acts will have to be amended. We will bring these legislations together to Parliament in the next few days," Arun Jaitley said.
On March 22, 2017 21:36 (IST)
Arun Jaitley was replying to a debate on the Finance Bill and the accompanying 40 amendments to different laws including one making Aadhaar mandatory for filing of income tax return from July as well as for applying for permanent account number.
On March 22, 2017 19:51 (IST)
During the 50-day period post-demonetisation, 18 lakh entities deposited scrapped notes of Rs 500 and 1000 not commensurate with their income means, Finance Minister Arun Jaitley said.
On March 22, 2017 21:37 (IST)
"With Aadhaar, we can stop a person from creating extra PAN cards as it is backed by biometrics like finger prints and iris scans," said Arun Jaitley.
On March 22, 2017 17:30 (IST)
Net tax receipts in the first 10 months of 2016/17 fiscal year were Rs 8.16 lakh crore, government data showed last month.
On March 22, 2017 10:56 (IST)
Mr Jaitley said GST is the biggest reform in India and hopefully, it will be implemented by July 1.
On March 22, 2017 08:51 (IST)
Besides being necessary for filing an income tax return, any application for an income tax PAN will also have to state the applicant's Aadhaar or 12-digit unique ID which is backed by biometrics like finger prints and iris scans.
On March 21, 2017 20:40 (IST)
Finance Minister Arun Jaitley said investigation against 628 persons named in the HSBC list of Indians holding foreign bank accounts has been completed, an assessment to the tune of Rs 8,437 crore in 409 of these cases made and 190 prosecutions filed against them.
On March 21, 2017 20:01 (IST)
The new rules kick in starting July, Finance Minister Arun Jaitley said. Because they are amendments to the Finance Bill, the government should have no trouble having them cleared in parliament.
On March 21, 2017 18:12 (IST)
In his budget presented in February, Finance Minister Arun Jaitley had said cash transactions would be capped at three lakhs. The government wants to reduce the limit to two lakhs.
On March 19, 2017 11:45 (IST)
The former CAG, in a letter marked to Principal Secretary to Prime Minister Nripendra Misra, has also suggested a roadmap to wriggle out of the NPA problem.