The Central Board of Direct Taxes (CBDT) has released the fifth annual APA report on September 1, 2023. The report highlights the achievements of the APA programme in the financial year 2022-23. One of CBDT’s key efforts for advancing an investor-friendly and non-adversarial tax system in India is the Advance Pricing Agreement (APA) program. Since…
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In Budget 2023, a new personal income tax regime system for individual taxpayers was unveiled. Taxpayers will be able to select between the current/old tax regime and the new tax regime starting in FY 2020–21. By choosing the previous tax system, the taxpayer can continue to take use of current tax benefits such house rent…
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Speech of Nirmala Sitharaman (Finance Minister of India) Hon’ble Speaker, I present the Budget for 2023-24. This is the first Budget in Amrit Kaal. Introduction of Budget 2023-24 Resilience amidst multiple crises 4. Our focus on wide-ranging reforms and sound policies, implemented through Sabka Prayas resulting in Jan Bhagidari and targeted support to those…
India has compiled a list of 35 items that are being considered for a potential hike in customs duties in the 2023 budget, which is expected to be released on February 1. Among the products on the government-prepared list are private aircraft, helicopters, high-end electronics, plastic goods, jewellery, high-gloss paper, and vitamins. Based on suggestions from…
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Nirmala Sitharaman, the minister of finance, stated on Sunday that improving the ease of doing business was not just the responsibility of the federal government and that it was also necessary to improve it at the state, district, municipality, and even Panchayat levels. The finance minister offered some words of wisdom to budding entrepreneurs while…
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In order to achieve the one nation, one standard, promote start-ups in every district, establish a start-up innovation zone at the level of urban local bodies, and encourage Indian speciality products by developing premium international brands, a new industrial policy that will replace the one from 1991 is being proposed. In order to boost MSME…
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Shaktikanta Das, governor of the Reserve Bank of India, announced an additional function for Unified Payments Interface (UPI) platforms that would allow for multiple debits. In his address at the conclusion of the three-day Monetary Policy Committee (MPC) meeting, Mr. Das was effusive in his praise for the digital payment system. “UPI has emerged as…
During the Financial Year 2021-22, Ministry of Corporate Affairs (MCA) registered more than 1.67 Lakh company incorporations as compared to 1.55 Lakh companies during FY 2020-21. The increase is significant considering that number of companies incorporated during Financial Year 2020-21 were the highest in any of the previous years. The incorporations during FY 2021-22 are…
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“It becomes the responsibility of all the State Governments, knowledge partners and international agencies to support the Panchayats for the attainment of Sustainable Development Goals”, said Shri Sunil Kumar, Secretary, Ministry of Panchayati Raj while addressing the gathering of representatives of Panchayati Raj Institutions, representatives of UNICEF, UNFPA, senior officers of the Central Government and…
Read More “Child /Women Friendly Village a part of Azadi ka Amrit Mahotsav.” »
As part of the Aatma nirbhar Bharat Initiative, Ministry of Food Processing Industries is implementing a Centrally Sponsored PM Formalisation of Micro food processing Enterprises (PMFME) Scheme for providing financial, technical and business support for setting up/ up gradation of 2 lakh micro food processing enterprises through credit linked grant during five years from 2020-21…
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