Finance Minister Pranab Mukherjee today asked Income Tax (I-T) officials from across the country to maximise tax collections as he talked to them through video conferencing from the national capital.
Mukherjee addressed the Chief Commissioners of Income Tax (CCsIT) and other senior I-T officials in 48 cities from office of the Chairman of Central Board [...]

Saddled with huge tax arrears of Rs 2,50,000 crore — more than half of the total tax collection projected for 2010-11 — finance minister Pranab Mukherjee is likely to introduce in the forthcoming Budget some major changes in direct tax laws that could help in swift recovery of a significant portion of the arrears.
The [...]

Finance minister Pranab Mukherjee said that he would begin consultations with the industry from the first week of the next year for the budget to be presented on February 28.
“Let us wait for the D day. Let us wait for February 28,” Mukherjee said at the Business Leader Awards of private news channel CNBC [...]

The Cabinet on Wednesday approved a capital infusion of Rs 6,000 crore into public sector banks, in addition to the Rs 15,000 crore allocated in the Union Budget. The funds would be used to bolster the capital base of the state-owned players to help them meet lending needs. Following the infusion , the government [...]

The finance ministry denied any plan to change the financial year from April-March to January-December and merge the railway and general budget as reported in a section of the media.
“With reference to a news item appearing in a certain section of the print media, it is clarified that there is no move in the [...]

A current survey in India reveals 67 percent of employees received salary hike in the year 2010. Which is beyond expectation. Indian finance ministry declared a new income tax scheme for government and non-government employees. Here is some popular tax saving option for Indian citizens – tax saving bond, funds. Eventually government of India [...]

After eight months of stalemate, the Government has finally given its approval to Chinese telecom equipment manufacturers for importing gear into the country. The Department of Telecom has given its nod to ZTE for supplying gear to Reliance
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The Bombay High Court on Friday dismissed the writ petition filed by Price Waterhouse challenging the jurisdiction of the Securities and Exchange Board to investigate the audit firm’s role in the multi-crore Satyam accounting
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