Page-7 of Ministry of Finance Current Affairs, GK & News

Finance Minister: Rs 25,000 crore Fund for stuck Housing Projects

On November 7, 2019, Government of India announced the establishment of Rs 25,000 crore fund for home buyers whose money is stuck in stalled projects. According to the Ministry of Finance, there are over 1600 such projects comprising of 4.58 lakh housing units across the country. The “Special Window” will prioritize debt financing in the ..

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K M Prasad appointed as new Principal Chief Commissioner of Income-tax (PCCIT) of National e-assessment centre

The National e-Assessment Centre (NeAC) has been set up by the  Central Board of Direct Taxes (CBDT) in the national capital as part of the government’s ambitious plan to launch faceless and nameless assessment for Income Tax  (IT) payers from October 2019. K M Prasad, the 1984-batch Indian Revenue Service (IRS) officer, has been appointed ..

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Government announces measures to arrest economic downturn

To improve the grim economic situations in India, the Indian finance ministry has announced several measures to arrest the economic downturn in India and promote a healthy investor scenario in India. These measures were announced the Finance Minister of India, Mrs. Nirmala Sitharaman in a press conference. Which measures were announced by the Finance Minister? ..

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Akhilesh Ranjan task force on Direct Tax Code submits Report to Finance Ministry

The task force, headed by CBDT member Akhilesh Ranjan, constituted by the Union government for drafting the new Direct Tax Code (DTC) has recently submitted its report to Union Minister of Finance and Corporate Affairs Nirmala Sitharaman. The task force was constituted to replace the 6-decades-old Income Tax Act 1961. It is believed that the ..

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CBDT Hikes Monetary Limits for Filing of Appeals by Income Tax Department

The Central Board of Direct Taxes (CBDT) has significantly increased the limit for the income tax department to appeal disputes in higher forums. One of the reasons behind the decision to raise the monetary limits is that the revenue department has fared poorly in the appeals filed by it, which was highlighted in the Economic ..

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