New Delhi: Finance minister Nirmala Sitharaman called on various ministries and departments to expedite capital spending and set quarterly targets. On Tuesday, Sitharaman chaired the first of a series of meetings lined up to review the productive spending, and the resultant asset creation, across infrastructure and other ministries. She held meetings with the ministries of … Read more
Earlier this week, Union Finance Minister Nirmala Sitharaman encouraged financial institutions to develop innovative deposit products to enhance customer attraction. In the latest RBI Bulletin, released on Monday, Governor Shaktikanta Das also highlighted that the share of bank deposits has declined with households allocating savings to mutual funds and pension funds. “It is observed that … Read more
TMC leader Derek O’Brien has urged Finance Minister Nirmala Sitharaman to “urgently review” and withdraw the 18 percent GST on health and life insurance premiums during the upcoming GST Council meeting. “The 18 per cent Goods and Services Tax (GST) on health and life insurance premiums is a burden on 45 crore Indians comprising … Read more
Union Finance Minister Nirmala Sitharaman on Tuesday said that if it was in her hands, she would have reduced taxes to almost nil for all. She cited that the taxation process is crucial as India’s challenges are unique. Speaking at an event at the Indian Institutes of Science Education and Research, FM Sitharaman said: “Tax … Read more
Capital Gains Tax: After Finance Minister Nirmala Sitharaman made an announcement in the Union Budget regarding the reduction of tax on long-term capital gains from 20% with indexation benefits to 12.5% without indexation benefits, an amendment was introduced to The Finance Bill, 2024. This amendment allows taxpayers to select the tax rate that is more advantageous … Read more
Ever since she stopped dyeing her hair more than a year back, waiting for the messy grey to grow into subdued salt, Nirmala Sitharaman has been particularly attentive to her sari selection. For years, she wore handlooms from her home state of Andhra Pradesh besides Tamil Nadu’s pattus, but there has been a stylistic shift … Read more
Finance Minister Nirmala Sitharaman on Thursday said the Centre has decided to Securities Transaction Tax (STT) as it helps the government trace big-ticket spending. Speaking in the Raja Sabha on whether STT should be removed as capital gains tax has been restructured, FM Sitharaman said: “A member of the House spoke of STT rates and … Read more
Finance Bill 2024: Union Finance Minister Nirmala Sitharaman on Wednesday said that the government has successfully brought in a simplified tax structure. While replying to the discussion on the Finance Bill in Lok Sabha, FM Sitharaman said that the claim that corporate taxes are lower than the individual taxes claim is not well founded. While replying … Read more
Long-term capital gains tax: The Centre announced on Tuesday a significant decision that offers relief to homeowners regarding Long-Term Capital Gains (LTCG) tax on real estate. Homeowners will now given the option to choose between two tax rates: a 20% rate with the indexation benefit, or a 12.5% rate without indexation. This policy shift follows … Read more
Finance Minister Nirmala Sitharaman will propose the Finance Bill for FY 2024-2025 in the Lok Sabha on Tuesday, aiming for its consideration and passing. This bill is crucial for enacting the Budget proposals, which need approval from both houses of Parliament. Presented on July 23, the FY25 Budget has been under discussion in Parliament since … Read more