Mahua Venkatesh

Day 1: GST council covers vital issues on implementation

Sabre-­rattling has little impact on Indo-­Pak trade

On Day 1, GST council covers vital issues on implementation

The GST council on Tuesday began its three-day meeting and the first day itself saw important progress being made towards fixing the GST rate and the compensation formula.

Nearly 75% govt banks miss MSME loan growth target

Despite the NDA governments push on improving credit to the micro, small and medium enterprises (MSMEs) in the country, only seven out of India’s 27 state-owned banks have achieved the loan growth target for the sector.

Disinvestment set to be off target this year as well

Transactions older than 6 years now under tax lens

Now, transactions older than 6 years in govt cross hairs in war on black money

An tax evasion offender, depending on the amount or assets seized, could end up paying a tax as high as 75% and could also be jailed.

PSU banks to rope in celebrities to promote Jan Suraksha schemes

Government for region-wise agriculture loan disbursal

Faced with a geographically skewed distribution of agriculture loans, the government has now chalked up region-wise targets for these banks, sources said.

Want to win a certificate from the govt? Pay income tax over ₹1 lakh

CBDT has already mailed over 800,000 such certificates since the initiative was launched less than two weeks ago.

Banks gear up for GST with December deadline for IT upgrades

Public and private banks are readying themselves to handle collection, accounting, and money transfers under the goods and services tax (GST) structure by December.

Soon, the taxman will greet you on your birthday, wedding anniversary

Is your birthday or marriage anniversary around the corner? Guess who is gearing up to wish you this time - the income-tax department. Adopting a more people-friendly approach, the I-T department is gearing up for more direct interactions with taxpayers through SMSes, which includes sending wishes for special occasions.

Black money worth Rs 65,250 cr declared in tax disclosure scheme: Jaitley

Assets worth Rs 65,250 crore have been declared by 64,275 people under the latest Income Tax Disclosure Scheme, with scope for some marginal upward revision once the full tabulation is completed, Finance Minister Arun Jaitley announced on Saturday.

Budget to be presented in first week of Feb, consultations to begin soon

The union budget for 2017-18 will be presented in the first week of February while the budget session of Parliament will begin right after the Republic Day, said top sources in finance ministry. They added that the government will kick off the pre-budget consultations with stakeholders from next month.

Bank consolidation to take a while

Govt bank consolidation difficult in NDA’s first term

The NDA government may not be able to carry out the consolidation of public sector banks in its first term as the road map for the process is expected to be ready only by next year, according to sources.

We’re watching, come clean: I-T to big spenders

As Sept 30 approaches, govt sends ‘last chance’ mails urging assets disclosure

Even as the last date of the income disclosure scheme (IDS) — a government-provided opportunity for those holding unaccounted money to come out clean — draws closer, the tax department has sent out mails exhorting people to use it and avoid penal action.

Budget overhaul: Early budget to help rake in more tax revenues

The advancement of the Union Budget day by a month will make the government richer as tax collections are set to be healthier, according to experts.

Budget overhaul: All you need to know

The Narendra Modi government today cleared several proposals to overhaul the way the annual Budget is presented in India. Here’s all you want to know about the changes that were made today:

PSU banks bleed some more, as bad loans rise 12%

Public sector banks, already sitting on a pile of non-performing assets (NPA) — loans that turn unproductive — have reported fresh slippages of around Rs 99,609 crore in the first quarter of the current fiscal, double of what was reported in the corresponding period of the previous year.

Despite higher prices, gold fever to hit this season

After a lull of four years, the demand for gold is expected to go up this festive season, despite higher prices compared to last year.

Govt may raise upper age limit for Atal pension plan

Foreign law firms will not be allowed to litigate in India

Prime Minister Narendra Modi’s government, which is keen to allow entry of foreign law firms into the country to boost ease of doing business, will start off by allowing these companies to operate in foreign law and arbitration for cross border businesses and joint ventures (JVs).

Govt to keep steel out of free-trade pacts

With the Reserve Bank of India (RBI) warning that the Indian banks’ proportion of non-performing assets (NPAs) might reach double digits, the government is planning to keep steel out of the ambit of the foreign trade agreements it inks in the future.

NIIF: Much awaited infra fund delayed but to start soon

It is already six months into the current financial year, but the much-awaited Rs 40,000-crore National Infrastructure Investment Fund (NIIF) is yet to start operations. According to top government officials, the complex structure of the fund is the main reason for the delay.

Insurance claims may rise as dengue cases spike

Even as cases related to dengue, chikungunya and other vector borne diseases rose by about 60% this year, the worst is yet to come, said insurance companies, which are expecting a spike in claims.

Lord Ganesha and the science of insuring pandals

The Ganesh puja season is seen as an annual opportunity for general insurance companies to rake in business.

Mallya’s benami assets now in ED’s line of fire

ED may start hunting for Vijay Mallya’s benami assets now

The enforcement directorate (ED) may begin hunting for liquor baron Vijay Mallya’s hidden properties to further tighten screws on the industrialist whose now-defunct airline owes thousands of crores to multiple lenders.