IT refunds: Taxman directed to 'expeditiously' settle claims involving less than 50,000 rupees

In good news for lakhs of taxpayers awaiting their IT refunds, the government has directed the taxman to 'expeditiously' settle claims involving less than 50,000 rupees. According to government data, over 5,400 crore rupees arelocked in pending refunds, which has become a major gri...

CEA-led panel recommends standard rate for GST at 17-18 %

The Chief Economic Advisor-led panel has recommended standard rate for Goods and Services Tax at 17 to 18 per cent, the rate at which most products would likely be taxed. In its report submitted to Finance Minister Arun Jaitley, the committee has excluded real estate, electricity and alcohol and pet...

Rs slumps 34 paise against dollar; Sensex drops about 150 pts as Asian markets slide

At the foreign exchange market, the rupee tumbled 34 paise, to 66.99 against the dollar in early trade. The rupee declined on strong dollar demand from banks and importers, gains in the dollar against major global currencies, and weak domestic equities.At the bourses, the Sensex at the Bombay Stock ...

Indian companies to present best practices in sustainable development

GAIL launches project for satellite monitoring of pipelines

State-run energy major GAIL and National Remote Sensing Centre, a unit of ISRO, have started an innovative surveillance geo-portal called 'Bhuvan-GAIL Portal' for utilising space technology for its pipeline application. GAIL said it has also developed an innovative mobile applicati...

No worry about fiscal deficit target, govt able to meet current year's target: Jaitley

Finance Minister Arun Jaitley today said that there is no worry about fiscal deficit target and the government will be able to meet current year's target. Speaking at the HT Leadership Summit in New Delhi, Mr Jaitley said, there will be a temporary pressure on fiscal deficit on account of 7...

SIDBI launches Make in India soft loan for micro, small & medium enterprises

The Centre today said Small Industries Development Bank of India (SIDBI) has launched SIDBI Make in India soft loan fund for micro, small and medium enterprises (SMILE). Replying to supplementaries in the Lok Sabha, minister of state for Finance Jayant Sinha said for SMILE a corpus of 10,000 crore r...

US: Head of Central Bank considers higher interest rate

In US, the head of Central Bank says she expects the US job market to continue improving and the rate of inflation to rise closed to the Federal Reserve's two percent target rate. In a speech to the Economic Club of Washington, Fed Chair Janet Yellen said she expects the economic drag from ...

P-Notes norms strict and robust: Sinha

Government has said the current regulatory framework on Participatory Notes, P-Notes is strict and robust and there may not be any change required in the rules at the moment. Talking to reporters in New Delhi, Minister of State for Finance Jayant Sinha said, the capital markets regulator Sebi has ov...

India receives financial info from US under FATCA: FinMin

The Finance Ministry has said, it has received information from the US under the financial information exchange pact Foreign Account Tax Compliance Act, FATCA in the last two months. Talking to reporters, Department of Revenue Joint Secretary Akhilesh Ranjan, said government will analyze the receive...