Wisdom Hatch founder Akshat Shrivastava has called for an urgent reevaluation of India’s tax system. In a post on X, Shrivastava argues that as salaries fail to keep pace with inflation, individuals paying direct taxes should receive a much-needed tax break. “With no substantial increase in salary, higher taxation leaves people with no discretionary income … Read more
Finance Minister Nirmala Sitharaman on Thursday voiced concerns against the “one-sided” move by advanced jurisdictions like the EU to impose tariffs on high-carbon goods coming from other sources, saying it goes against the interests of the Global South and that the green agenda shouldn’t be pursued by some at the expense of others. Speaking at … Read more
Over 4.51 crore income tax returns for 2020-21 were filed till December 26, the I-T department said on Monday. This includes over 2.44 crore ITR-1 and over 1.12 crore ITR-4. ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers. Sahaj can … Read more
Finance minister Nirmala Sitharaman said public sector banks were in better position now, as she urged all banks embrace digitisation to ensure government schemes reached the poor. Speaking at the centenary celebrations of Tamilnad Mercantile Bank, Sitharaman said Rs 1,500 was given out in three installments to the needy directly in their bank accounts during … Read more
Finance Minister Nirmala Sitharaman today laid out a Rs 6-lakh-crore plan to monetize government’s existing asset base and use the proceeds to boost infrastructure. This pipeline will only include brownfield assets owned by the government, Sitharaman said, and will not include land assets of the government. Agencies “The contractual partnerships which the Govt will enter, … Read more
New Delhi: Finance Minister Nirmala Sitharaman on Friday said the economy reflating at a rate faster than previously expected is not just due to pent up demand but also because of additional demand coming in, and the recovery will sustain. Without delving into the budget she will present in two months, she said the government … Read more
(This story originally appeared in on Sep 04, 2020) MUMBAI: The government has asked banks to obtain board approval for restructuring of corporate loans by September 15 after the K V Kamath-led committee submits its report in the first week. This was communicated to bank chiefs in their review meeting with finance minister Nirmala Sitharaman. … Read more