The Reserve Bank of India (RBI) has cut the repo rate by 25 basis points to 6.25%—the first reduction in nearly five years. While this move benefits borrowers, it also signals a decline in fixed deposit (FD) interest rates, posing a challenge for investors, especially senior citizens who rely on FD income. With banks expected … Read more
New Delhi | Mumbai: The government appointed Indian Administrative Services (IAS) officer Sanjay Malhotra as the next governor of the Reserve Bank of India (RBI) for a three-year term, succeeding Shaktikanta Das, whose tenure ends Tuesday. Malhotra takes over at a time of high inflation and slowing growth amid calls for rate cuts to bolster … Read more
As states like Delhi and Goa raised the issue of tax demand on online gaming companies and casinos retrospectively, Revenue Secretary Sanjay Malhotra on Saturday reiterated that 28 per cent GST was levied on online gaming and casinos even before. “Certain members had raised the issue of retrospective taxation. It was informed to them that … Read more
New Delhi: Revenue Secretary Sanjay Malhotra on Tuesday launched the Unified Portal of the Central Bureau of Narcotics, which will instill efficiency and transparency and reduce the time taken by the pharma industry to get a trade license. Additional Secretary (Revenue) Vivek Aggarwal, Narcotics Commissioner Dinesh Kumar Bouddh, Anil Ramteke, Chief Controller of Factories, Vinod … Read more
New Delhi: A day after the Budget announcement of a revamped personal income tax regime, Revenue Secretary Sanjay Malhotra on Thursday said the government would eventually like to move to a simple and exemption-free tax structure with lower rates. According to an analysis by the Revenue Department, an individual earning Rs 15 lakh in a … Read more