Page 50 - Nirmala Sitharaman

Govt mopped up Rs 98,681 cr from taxing LTCG in listed equities in FY23

The government has garnered Rs 98,681 crore from long term capital gains tax on listed equities in 2022-23, a 15 per cent growth over the previous year, Parliament was informed on Tuesday. Minister of State for Finance Pankaj Chaudhary gave details of collections from Long Term Capital Gains (LTCG) tax between fiscal 2018-19 and 2022-23 in the Rajya Sabha. The long term capital gains on equities and units of equity oriented mutual funds were brought in from April 2018. Such gains were taxed at 10 per cent, with gains of up to Rs 1 lakh annually being exempted. As per the details shared with the Parliament, Rs 98,681.34 crore was collected from LTCG in 2022-23, up 15 per cent over Rs 86,075.49 crore collected in 2021-22 fiscal. The collection was about Rs 38,589 crore in 2020-21, Rs 26,008 crore in 2019-20 and Rs 29,220 crore in 2018-19. To a question on whether the government is contemplating to abolish the LTCG tax on equities/mutual funds during 2024-25, Chaudhary said, "There i

Indians are Arjun, will break Modi's chakravyuh: Rahul Gandhi's fresh salvo

Rahul Gandhi alleged that the Centre waived off Rs 16 trillion debt of the industrialists but collected Rs 8,500 crore from the poor Indians, who are unable to maintain "even the minimum balance"

Parliament session all set to be stormy over Budget, coaching centre deaths

Congress Lok Sabha Whip Manickam Tagore has submitted an Adjournment Motion notice to discuss the delay in conducting Census 2021, which has delayed the implementation of women's 33 per cent quota

WATCH: Desh ka halwa bat raha hai, says Rahul Gandhi; Sitharaman face-palms

Addressing the Parliament on Budget 2024, Rahul Gandhi said the Centre failed social groups such as the farmers and youth, and double stabbed the middle class of India through 'tax terrorism'

FM Nirmala Sitharaman to review RRBs' performance after Budget session

The RRBs were established in 1975 under the provisions of the Ordinance promulgated on September 26, 1975, and the Regional Rural Banks Act, 1976

Parliament updates: Delhi govt, MCD responsible for coaching centre deaths, says minister Khattar

Lok Sabha and Rajya Sabha news: Catch all the news updates related to the developments in the Parliament here

K'taka CM accuses Sitharaman of lying, says BJP tainting state as corrupt

Karnataka Chief Minister Siddaramaiah on Monday accused Union Finance Minister Nirmala Sitharaman of "lying" as he targeted her and the BJP-led NDA government at the Centre for meting out 'injustice" to the State in the recent Union Budget. He alleged that the BJP was trying to taint the Congress-ruled Karnataka as a "corrupt state." The Chief Minister also said that he and Deputy Chief Minister D K Shivakumar will be travelling to New Delhi as they have been called by the Congress high command to "discuss the party and the government" but did not elaborate. "Pre-budget meeting was called, we had said there that you (Centre) have said that you will give Rs 5,300 crore for the Upper Bhadra project. Is it there in the Budget? It is not given. The fifteenth finance commission in its report has recommended Rs 5,495 crore as special grants, is it there? It was said that Rs 3,000 crore will be given for the peripheral ring road (in Bengaluru). It was promised to give Rs 3,000 crore for ..

Sitharaman to introduce J&K Appropriation Bill in the Lok Sabha: What is it

This Jammu and Kashmir Appropriation Bill, 2024 seeks to authorise the withdrawal of sums from the Consolidated Fund of the Union Territory for FY25

Valmiki scam: Is it 'Nyay' to siphon of SC/ST money, asks FM Sitharaman

Union Finance Minister Nirmala Sitharaman lashed out at Chief Minister Siddaramaiah asking him whether it was Nyay' (justice) to siphon off money belonging to the tribal Valmiki community. Referring to the Rs 187 crore scam in the Karnataka Maharshi Valmiki Scheduled Tribe Corporation including the illegal transfer of Rs 88 crore, Sitharaman accused Siddaramaiah of concealing facts and trying to pass the blame on to the central government because bank officials of a nationalised bank were involved. On Siddaramaiah's charge that the union finance minister should be held accountable because banks were involved, Sitharaman said, He can say that because he is used to talking like this That's so irresponsive. You have your minister resigned. You have your people saying that the money has been siphoned into private accounts. The minister said that action has already been taken as a first step against the conniving bank officials and further action will be taken against them. "No protectio

News updates: One dead after flooding in UPSC coaching centre basement, rescue operations underway

Catch the latest news from around the world here

CM Stalin attacks Centre, calls Union Budget a 'revenge' against country

Tamil Nadu Chief Minister M K Stalin on Saturday launched a sharp attack against the ruling BJP at the Centre over the 2024-25 Union Budget, calling it a 'revenge' taken by the saffron party against the country and warned it will face more electoral defeats since it was committing "mistake after mistake." Explaining his decision to boycott the Niti Aayog meeting scheduled in New Delhi under the Chairmanship of Prime Minister Narendra Modi on Saturday, Stalin said he was 'compelled' to speak in the people's forum, seeking justice due to the "discriminatory attitude" towards Tamil Nadu reflected in the budget. The state's pleas for disaster relief to the tune of Rs 37,000 crore and Chennai Metro Rail's second phase were not heeded to, he said in a statement. Further, the BJP runs "the government with political motive". "The budget presented on July 23 is evidence of this. In the recently held parliamentary elections, the people of various states defeated the anti-people BJP. The Budg

What the middle class isn't

What the Modi govt got wrong: Moving away from its generally upbeat messaging of 'India is on the rise, growth will get steeper, and markets are red hot and will get hotter'

Open to feedback on tax changes but... read FinMin latest remark on Budget

Union Finance Minister Nirmala Sitharaman's recent remark follows feedback from several experts and salaried individuals who feel that the Budget did not provide sufficient relief to the middle class

Niti Aayog meeting faces boycott from opposition leaders over budget woes

Chief ministers from Tamil Nadu, Himachal Pradesh, Karnataka, Telangana, Punjab, Jharkhand, and Kerala will be skipping the Niti Aayog meeting

Union Budget 2024-25 serves a strategic blueprint for Viksit Bharat

The Budget underscores the importance of environmental sustainability

Budget frontlines: 'Agnipath' driving shift in spending patterns

The government says that going by the baseline of the Budget for FY24, the current allocation amounts to a 4.72 per cent rise over the previous year's allocation

Job schemes not a mandate, but a nudge to firms, says FM Sitharaman

The finance minister said the private sector shouldn't feel the pressure as it is not mandatory

Explained: Is the Budget 2024 helping you get a job?

Is the Budget 2024 helping you get a job? Whether you’re a student, a working woman, or a skilled labourer, find out what the Union Budget has in store for job seekers and students.

First draft of new I-T law to be prepared by tax dept panel: Revenue Secy

The first draft of a new simplified income tax law, as proposed in the Budget, will be prepared by an internal committee of the tax department and will undertake stakeholder consultation before finalising the legislation, Revenue Secretary Sanjay Malhotra said on Thursday. Malhotra said that the exercise is not linked to bringing a new direct taxes code, but a comprehensive review of the income tax law. Finance Minister Nirmala Sitharaman in her Budget speech earlier this week announced that a comprehensive review of the Income-tax Act, 1961 will be completed in six months. "The purpose is to make the Act concise, lucid, easy to read and understand. This will reduce disputes and litigation, thereby providing tax certainty to the taxpayers. It will also bring down the demand embroiled in litigation," Sitharaman said. To a question whether the review would mean that the government will come with a direct tax code, Malhotra said "It is not a new direct tax code... It is a comprehensiv

Decoded: What is Agristack system? How will it benefit agriculture sector?

In her Union Budget speech, Nirmala Sitharaman announced the Agristack DPI while adding that it will bring over six crore farmers under the formal land registry system