Category: Finance

The number of unique mutual fund investors is up from 37.9 million in April 2023 to 45.2 million in April 2024, an increase of 19.3 per cent. A poor experience early in their investment journey could turn many of these newcomers off equities for a long time, which is why they must enter the market […]

New Delhi: Private sector capital expenditure is likely to see a gradual expansion amid expectations of high growth though geopolitical uncertainties and tepid consumption remain a concern, say economists. CII’s business confidence index touched a 12-quarter high in Q4FY24, with 51% of firms expecting capacity utilisation of 75% and above. Moreover, 71% expect an improvement […]

Union Finance Minister Smt. Nirmala Sitharaman administers Oath of Office to Justice (Retd.) Sanjaya Kumar Mishra as the first President of GST Appellate Tribunal in New Delhi Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman administered the oath of integrity and secrecy to Justice (Retd.) Sanjaya Kumar Mishra as the President of the […]

Total 641 APAs done since inception of the APA programme The Central Board of Direct Taxes (CBDT) has entered into a record 125 Advance Pricing Agreements (APAs) in FY 2023-24 with Indian taxpayers. This includes 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs). This marks the highest ever APA signings in any financial year […]

There is no special drive to re-open cases of mismatch, and media reports alleging that large-scale re-opening is being undertaken by the CBDT are completely misplaced Apprehensions are about retrospective taxation in this matter and re-opening of cases on issues pertaining to HRA claims is completely baseless Certain instances of mismatch of information as filed […]

The Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from 1st April, 2024 onwards. The ITR functionalities i.e. ITR-1, ITR-2 and ITR-4, commonly used by taxpayers are available on the e-filing portal from 1st April, 2024 onwards for taxpayers […]

Chart: Trends in GST Collection Yearly gross revenue ₹20.18 lakh crore; 11.7% growth (13.4% on net basis) Gross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at ₹1.78 lakh crore, with a 11.5% year-on-year growth. This surge was driven by a significant rise in GST collection from domestic […]

It has come to notice that misleading information related to new tax regime is being spread on some social media platforms. It is therefore clarified that the new regime under section 115BAC(1A) was introduced in the Finance Act 2023 which was as under as compared to the existing old regime (without exemptions):   New Regime […]

The Government of India, in consultation with the Reserve Bank of India, has finalized its borrowing programme for the first half (H1) of FY 2024-25. Out of Gross Market borrowing of ₹14.13 lakh crore projected for FY 2024-25 in the Union budget, ₹7.50 lakh crore (53.08%) is planned to be borrowed in the first half (H1) through dated […]

The two-day workshop was attended by more than 45 representatives of Centre and State/UT Government departments, private players and major ports authorities in hybrid mode The Infrastructure Finance Secretariat (IFS), Department of Economic Affairs (DEA), Ministry of Finance (MoF), organised a two-day workshop in hybrid mode on 14th-15th March,2024 in New Delhi. The workshop was held […]