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Centre, states reach consensus on GST; rollout from July 1

Centre, states reach consensus on GST; rollout from July 1

In a significant breakthrough in implementation of India’s biggest tax reform, the deadlock over administration of GST ended on Monday after the Centre agreed to allow states control over most…

Richest 1% own 58% of total wealth in India: Study

Richest 1% own 58% of total wealth in India: Study

In signs of rising income inequality, India’s richest 1 per cent now hold a huge 58 per cent of the country’s total wealth — higher than the global figure of…

Tax evasion suspected in Rs 3-4 lakh crore deposits post demonetisation

Tax evasion suspected in Rs 3-4 lakh crore deposits post demonetisation

As it analyses bank deposits post demonetisation, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to…

Jaitley cites higher tax mop up to dismiss economic slowdown fears

Jaitley cites higher tax mop up to dismiss economic slowdown fears

Dismissing concerns of slowdown due to demonetisation, Finance Minister Arun Jaitley on Monday said both direct and indirect tax collections have shown robust increase during the April-December period, indicating uptick…

NRIs can deposit old banknotes till June 30

NRIs can deposit old banknotes till June 30

Indian citizens who are not resident of India will be able to exchange old Rs 500 and Rs 1,000 notes at RBI offices till June 30, the External Affairs Ministry…

RBI may have received Rs 15 lakh crore deposits of old notes

RBI may have received Rs 15 lakh crore deposits of old notes

The Reserve Bank is believed to have received deposits close to Rs 15 lakh crore, of estimated Rs 15.4 lakh crore worth junked Rs 500/1,000 currency notes that were in…

GST deadlock continues over dual control, high sea taxes

GST deadlock continues over dual control, high sea taxes

The deadlock over the Goods and Services Tax (GST) continued on Wednesday with the Centre and states refusing to budge from their respective positions on issues like control of tax…

BHIM downloaded 3 million times, top app in India: Niti Aayog CEO

BHIM downloaded 3 million times, top app in India: Niti Aayog CEO

Indigenous digital payments app BHIM has been downloaded 3 million times and enabled over 5 lakh transactions since its launch, Niti Aayog CEO Amitabh Kant has said. “BHIM App –…

Banks cut base rates; home, corporate loans to be cheaper

Banks cut base rates; home, corporate loans to be cheaper

Housing, auto and corporate loans are all set to become cheaper with half a dozen PSU and private banks on Monday steeply reducing benchmark lending rate by up to 1.48…

Petrol price hiked by Rs 1.29 a litre

Petrol price hiked by Rs 1.29 a litre

Petrol price was hiked by Rs 1.29 a litre — the third increase in a month, and diesel rate was raised by 97 paise a litre — the second hike…

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