Ministry of Finance: GK, General Studies and Current Affairs

Prime Minister constitutes committee to review taxation of development centres & IT sector

To review taxation of development centres and IT sector a committee has been established by the Prime Minister Dr Manmohan Singh. The Committee will function in consultations with stakeholders and related government departments to finalize the Safe Harbour provisions announced in Budget 2010. It will also recommend the approach to taxation of Development Centres. Earlier, ..

Government approves 14 FDI Proposals worth Rs 1584.11 crore

Based on the recommendation of the Foreign Investment Promotion Board, the government approved 14 FDI proposals worth Rs 1584.11 crore. The FDI proposals which obtained government sanction included Rs 225 Crore investment in the Indian operations of Asian equity research firm CLSA.

Jawahar Thakur: New CGA

Jawahar Thakur appointed as the new CGA (Controller General of Accounts) with effect from July 1, 2012. He belongs to the 1979 Indian Civil Accounts Services batch. Before this he was the principal Chief Controller Of Accounts in Central Board of Direct Taxes (CBDT) which is a part of the Department of Revenue in the ..

E-file returns compulsory if income exceeds Rs 10 Lakhs

People with income of Rs 10 Lakhs per annum will have to file their tax returns electronically beginning 2011-12 Financial year. The CBDT (Central Board of Direct Taxes) has issued a notification making e-filing compulsory for assessment year 2012-13 onwards for an individual or a Hindu undivided family if his or its total income exceeds ..

Greece gets new Finance Minister ‘Yannis Stournaras’

Greece Prime Minister Antonis Samaras declared Greek economist Yannis Stournaras as the country’s new Finance Minister. He took the place of Vassilis Rapanos who had submitted resignation due to health reasons.  Stournaras, 55, is a cherished laissez-faire pro-reform economist who served as Development and Shipping Minister in the custodian government that led Greece to the ..