UAE to introduce Corporate Tax from January 2022
The Ministry of Financehas, on Monday announced that the UAE will introduce a federal corporate tax on business profits that will be effective for financial years starting on or after 1st June 2023. Businesses will
Understanding How to Calculate Take-Home Salary: Income Tax Calculator
One of the most hated annual jobs of most working people is filing income taxes. And with the Ministry of Finance bringing out new additions and exemptions in the Union Budget in each financial year,
SEBI to Launch Settlement Scheme for 150 Stock Brokers, 2022 from December
The Securities and Exchange Board of India ( SEBI ) has decided to introduce a Settlement Scheme for 150 Stock Brokers, 2022 for Stock Brokers against whom enforcement proceedings have been approved/initiated and are pending
Important Update: Increased TCS rates under LRS to apply from 1st October, 2023
The Ministry of Finance has made an announcement that the Increased TCS (Tax Collection at Source ) rate will apply only from 1st October 2023. The new changes were scheduled to be implemented on 1st
Govt Notifies IIPDF Scheme for Financial Support for Project Development Expenses of PPP Projects [Read Notification]
The Ministry of Finance has notified the IIPDF Scheme for Financial Support for Project Development Expenses of PPP Projects. The provision of quality infrastructure is critical to attaining a higher growth trajectory for the economy
NFRA Examines Proposals on New Standard for Accounting of Insurance Contracts viz. Ind AS 117
The National Financial Reporting Authority (NFRA) held a meeting to examine the proposals received from the Institute of Chartered Accountants of India (ICAI), as required u/s 133 of the Companies Act, 2013), regarding a new
Ministry of Finance notifies General Conditions for Granting License for Cultivation of Opium Poppy for obtaining Opium Gum [Read Notification]
The Ministry of Finance, through notification no. 02/2023-NARCOTICS CONTROL-I G.S.R. 666(E) dated September 13, 2023, has released the general conditions for the issuance of licenses to cultivate opium poppy to obtain opium gum during the
Finance Ministry notifies Application of Insurance Act on IFSCs and SEZ
The Ministry of Finance has notified the applicability of the Insurance Act on the newly notified International Financial Services Centre (IFSC) and Special Economic Zone (SEZ). As per the notification issued on Monday, the provisions
PAN-Aadhar Linking Fees: “Total amount collected from these people is Rs 2,125 crore”, says MoS in Ministry of Finance
In response to an unstarred question posed by Smt. Phulo Devi Netam in the Rajya Sabha, the Ministry of Finance, Department of Revenue, Shri. Pankaj Chaudhary has disclosed key information regarding the linking of PAN
Ministry of Finance issues Communication Security Advisory to Government Officials
The FInance Ministry has recently issued an advisory to Government Officials on communication security to prevent violation of information security instructions as provided by the Manual of Departmental Security Instructions (MoDSI) and the National Information
Government is exempted from Service-Tax on services provided to business entities having turnover below 10 Lakhs
In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to
Reportable Transactions must be Registered with ITDREIN: CBDT issues Clarification on Furnishing Statement of Financial Transaction (SFT)
Central Board of Direct Taxes (CBDT) today issued Clarification on furnishing Statement of Financial Transaction (SFT) & SFT Preliminary Response. The Central Board of Direct Taxes had earlier instructed that specified persons are required to
Central Govt removes Export Duty of Rice in the Husk (paddy or rough), of seed qualit [Read Notification]
The Central Government has, through a notification in the official gazette, struck off the export duty on Rice of seed quality in the husk (paddy or rough). The exemption notification stated that,  In exercise of
Finance Ministry denies any collaboration with the tainted UK based Note Printing Company
The Ministry of Finance today in a press release has denied any colloboration with the UK based note printing company. There have been reports in sections of media stating that the Union Government has compromised
Rajiv Kumar IAS assumes office as the New Secretary, Department of Financial Services, Ministry of Finance
Shri Rajiv Kumar, IAS(JH:84) today assumed office as the new Secretary, Department of Financial Services, Ministry of Finance. Shri Rajiv Kumar was Special Secretary and Establishment Officer, Ministry of Personnel Public Grievances & Pension, D/o