Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman presided over the 166th anniversary of Income Tax Day observed by Central Board of Direct Taxes (CBDT), in New Delhi today. Union Minister of State for Finance, Shri Pankaj Chaudhary also graced the event with his presence. Shri Arvind Shrivastava, Secretary, Revenue; Shri Ravi Agrawal, Chairman, […]
What trends are you seeing in MSME credit growth and asset quality this year? Insights from the latest TransUnion CIBIL – SIDBI MSME Pulse Report highlight a very encouraging outlook for the MSME sector, both in terms of credit growth and asset quality. The data shows that MSMEs continue to demonstrate resilience and growing financial […]
Justice, N. Anand Venkatesh refuses to interfere with the inclusion of Zylog Systems Director, Srikanth Parthasarathy in the willful defaulters list. The Madras High Court has refused to interfere with the inclusion of a former Director of Zylog Systems Limited in the list of loan defaulters maintained by Credit Information Bureau of India Limited (CIBIL) […]
Department of Financial Services (DFS), Ministry of Finance organized a colloquium of Chairpersons of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs). Various key initiatives taken by the Department highlighted at the colloquium, such as adoption of revised DRT Regulations, mandatory e-filing, among others. The Department of Financial Services (DFS), […]
India and UK agreed on a free trade pact that gives British firms access to Federal Government contracts in select sectors – covering goods, services and construction – on a reciprocal basis. India is opening up a chunk of its protected Government procurement market to foreign firms, including the U.S, two Government sources said, in […]
Banks advised to expedite the resolution process by minimizing delays in filing CIRP applications. Shri M. Nagaraju, Secretary, Department of Financial Services (DFS), chaired a review meeting today to monitor the progress of Public Sector Banks in clearing pending cases for admission at National Company Law Tribunal (NCLT). The review entailed a follow up on […]
Congress spokesperson, Supriya Shrinate alleged that Union Bank of India placed an order for two lakh copies of a book authored by Subramanian, who had earlier served as Chief Economic Adviser to the Union Government. The Congress on Tuesday (May 6, 2025) claimed that Narendra Modi Government abruptly terminated K.V. Subramanian’s tenure as India’s Executive Director at […]
Uday Kotak warns that India’s economic ‘animal spirits’ are fading as young business families focus more on investments than building companies. He urges policymakers to address the impact of US policies pulling foreign capital away. Kotak stresses the need for a national strategy to counter this challenge and navigate the current economic environment. Uday Kotak, […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued Instruction No. 02/2025-GST, clarifying the procedure for handling Departmental appeals related solely to interest and penalties under Section 128A of the Central Goods and Services Tax (CGST) Act, 2017. Kind attention is invited to the Section 128A of the Central Goods and Service Tax […]
Budget 2025: For Liberalised Remittance Scheme (LRS) transactions, the TCS exemption limit has been increased from ₹7 lakhs to ₹10 lakhs. Finance Minister, Nirmala Sitharaman announced key changes to the Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) framework in the Budget 2025. The Government aims to simplify tax deduction and collection […]
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