Tag Archives: Finance minister Nirmala Sitharaman

NEW DELHI: Finance minister Nirmala Sitharaman on Monday asked top direct tax officials to make the processes simpler, transparent, and taxpayer-friendly, while seeking to speed up cases of disputed tax demand.During a meeting with principal chief commissioners of income tax, the minister called for a “structured, process-driven approach to compliance” focusing on greater ease for taxpayers and improved voluntary compliance, …

Representative image (Picture credit: ANI) India’s net direct tax collections for the ongoing financial year 2025-26 declined by 1.39 per cent to Rs 4.59 lakh crore as of June 19, mainly due to a sharp surge in refund issuances, according to government data released on Saturday. In the same period last year, net direct tax collections had stood at Rs …

UPI transactions hit new high in May but cash still thriving MUMBAI: Even as the country hurtles toward a digital future with the Unified Payments Interface (UPI) clocking 60 crore transactions a day, a curious contradiction persists: cash is thriving.In the month of May, UPI transactions hit a a record 1868 crore transactions for Rs 25.1 lakh crore, up from …

Finance minister Nirmala Sitharaman NEW DELHI: Finance Minister Nirmala Sitharaman on Saturday endorsed the Central Board of Indirect Taxes and Customs (CBIC) for its detailed clarification on social media allegations surrounding delays and alleged corruption in GST registration processing.Her remarks came after a Twitter user posted screenshot of posted accusations by a LinkedIn user alleging that they had not received …

NEW DELHI: Delays in regulatory clearances can lead to uncertainty and disrupt commercial timelines, finance minister Nirmala Sitharaman said on Tuesday as India negotiates trade deals with various countries, including the US.According to Sitharaman, also the corporate affairs minister, it is imperative that regulatory frameworks, while maintaining rigorous oversight, also facilitate swift and seamless approvals for combinations that pose no …

MUMBAI: Finance minister Nirmala Sitharaman on Friday called upon banks to embrace innovation and digital transformation, emphasising the need to adapt to changing customer expectations and technological advancements.At an event in State Bank of India (SBI), where she virtually inaugurated 70 new branches and 501 women customer service points across the country, she said: “With a legacy spanning 218 years, …

New Income Tax Bill 2025 (AI image) New Income Tax Bill 2025: Finance Minister Nirmala Sitharaman has tabled the New Income Tax Bill in Lok Sabha on Thursday, comprising 536 clauses across 622 pages, with an aim to replace the existing 823-page law that has been in effect for 64 years. The New Income Tax Bill 2025, written in clearer …

KPMG in India did a survey in January 2025 to gather industry perspectives on the Income Tax Act review. (AI image) New Income Tax Bill: The government announced in July 2024 its intention to conduct a thorough review of the Income-tax Act, 1961. The primary objective is to transform the Income Tax Act 1961 into a more straightforward, clear and …

The Union Cabinet approved the New Income Tax Bill on Friday. New Income Tax Bill LIVE: Finance Minister Nirmala Sitharaman may table the New Income Tax Bill in the Parliament on Tuesday. The intention to introduce the New Income Tax Bill was first announced by FM Sitharaman in her Union Budget 2025 speech.The Union Cabinet approved the New Income Tax …

NEW DELHI: Finance minister Nirmala Sitharaman, presenting the Union Budget 2025-26 on Saturday, announced a significant increase in allocations for women and child development programs, along with key relief measures for senior citizens and vulnerable communities. Addressing concerns over old National Savings Scheme (NSS) accounts, Sitharaman announced that withdrawals from these accounts, which no longer accrue interest, will be exempt …