An office memorandum from the CBDT, dated February 21, said that collection outcomes would play a bigger role in the future postings of the field officers. The latest missive assumes significance as there have been concerns over alleged 'tax terrorism' and undue harassment of genuine taxpayers by tax officials. The economic growth is also slowing down.
Government of India holding in the non-banking finance company, which stood at 56.42 per cent at the end of December 2019, would increase after the capital infusion.Government of India holding in the non-banking finance company, which stood at 56.42 per cent at the end of December 2019, would increase after the capital infusion.
Having undertaken a slew of measures, including clean up of public sector banks (PSBs), private sector banks, financial institution like IL&FS, non-bank financial corporations (NBFCs), housing finance corporations (HFCs), auditors, rating agencies, this is the last step in making the entire financial ecosystem almost impossible to be gamed, with security of depositors' money being paramount.
Finance Minister Nirmala Sitharaman asked civil accounts officers to focus on bringing in more efficient and adaptive technologies to further smoothen the working of the Public Financial Management System (PFMS). Speaking at a function to mark the 44th Civil Accounts Day, she said there is so much more to be accomplished and officers need to be responsive to the changes.
The lottery scheme is being envisaged by the revenue department to encourage customers to take bills for every purchase, which will in turn help the government in curbing GST evasion.
There will be several gains for India to make for itself by resolving the trade equations with the US.
Dubai's Emirates Group has seen a "measurable slowdown" in business due to the coronavirus outbreak and has asked staff to take paid and unpaid leave, according to an internal email seen by Reuters. Emirates Group, a state-owned holding company that counts Emirates airline among its assets, had more than 100,000 employees, including more than 21,000 cabin crew and 4,000 pilots, at end-March 2019, the end of its last financial year.