Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Gold declines for 3rd day, prices tumble Rs 3,300 as US dollar gains strength
    Rs 53 lakh cr transferred to govt beneficiaries through DBT, mostly to Jan Dhan accounts in 12 years
    Forex kitty jumps USD 12.42 bn to all-time high of USD 729.3 bn
    Jio Platforms gets Sebi nod to launch IPO
    PM Jan Dhan Yojana has had unparalleled impact, transformative outcomes: PM Modi
    Bajaj Finance Personal Loan Offers Flexible Repayment Options with Loan Utsav 2026 Benefits
    ED arrests 3 more people in pan-India digital arrest case
    Rupee rises 6 paise to settle at 95.39 against US dollar
    Senior citizen threatened with terror funding case probe, duped of Rs 7.2 crore
    Rupee declines 10 paise to 95.55 against US dollar in early trade
    UK’s PG Paper welcomes SEBI review of fraud allegations against Indian firm
    'Neta-Company Loot Tribunal': Cong on NCLT haircut approval for Subhash Chandra
    S&P affirms India's 'BBB' sovereign rating; cites dynamic economy, policy stability
    Sugar prices ease marginally to Rs 64.33 per kg on Thursday
    ED freezes assets worth Rs 33 crore after raids against Gurugram realty group
    CARD91 Launches SpendFlow, a Commercial Card Platform Built for Enterprise Requirements
    Will talk to Japan on increasing basmati rice exports from India: Goyal
    Will consider Air India's biz strategy, other factors before deciding on additional fund requests: Singapore Airlines
    Commerce and Industry Minister Shri Piyush Goyal Concludes Japan Visit; Calls for Greater Japanese Investment and Stronger Industrial Partnerships wit...
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
August 28, 2026
Show AI Summary
Gold price volatility intensified as dollar strength, profit-booking, and customs-duty-cut reports pressured domestic bullion markets.
Domestic bullion prices declined for a third consecutive session as a stronger US dollar and sustained profit-booking after a recent rally weakened gold and silver. Gold fell sharply in the national capital and silver also declined in domestic trading, with the three-day movement reflecting ongoing price volatility in the bullion market. International spot gold remained marginally lower while investors awaited policy-related remarks concerning inflation and elevated yields.
August 28, 2026
Show AI Summary
Direct benefit transfer strengthens welfare delivery through Jan Dhan accounts, digital payments, reduced intermediaries, and expanded financial inclusion.
Direct Benefit Transfer has transferred welfare benefits directly to beneficiaries, largely through Jan Dhan accounts, reducing intermediaries and supporting transparent delivery. The Pradhan Mantri Jan Dhan Yojana provides unbanked adults basic accounts without minimum-balance or maintenance-charge requirements, along with RuPay debit cards, accident insurance coverage, and emergency overdraft access. Banking outlets, digital-payment infrastructure, and Bank Mitras extend formal financial services to women, rural and semi-urban communities, strengthening financial inclusion and participation in the formal economy.
August 28, 2026
Show AI Summary
Foreign exchange reserves reached a record level, supported by increases in foreign currency assets and gold holdings.
India's foreign exchange reserves increased by USD 12.422 billion to an all-time high of USD 729.328 billion for the week ended 21 August. Foreign currency assets and gold reserves recorded the principal increases, while special drawing rights and the reserve position with the IMF also rose. Foreign currency asset valuation reflects movements in non-US currencies held in the reserves. FCNR(B) and concessional swap arrangements were introduced to attract additional foreign-exchange inflows.
August 28, 2026
Show AI Summary
IPO regulatory approval enables Jio Platforms to advance preparations for its proposed fresh equity share public offering.
Jio Platforms Ltd. has obtained Sebi's final observations for its proposed initial public offering. This key regulatory stage enables further preparations for the public issue, subject to applicable regulatory requirements. The proposed offering comprises up to 27 crore fresh equity shares and is expected to account for approximately 2.9 per cent of the company's post-issue equity base.
August 28, 2026
Show AI Summary
Financial inclusion through basic bank accounts expands banking access with no-balance accounts, debit cards, and emergency overdraft support.
Pradhan Mantri Jan Dhan Yojana enables unbanked adults to open basic bank accounts without minimum-balance or maintenance-charge requirements. Accounts include a free RuPay debit card with accident insurance coverage and eligibility for an overdraft facility during emergencies. The scheme promotes digital transactions, financial security and participation in the formal economy, while extending banking access to rural and semi-urban communities and increasing women's financial inclusion.
August 28, 2026
Show AI Summary
Flexible personal loan repayment enables eligible borrowers to select longer tenures, subject to eligibility, terms, verification, and repayment capacity.
Bajaj Finance personal loans offer eligible customers collateral-free borrowing with flexible repayment tenures of 12 to 108 months, subject to eligibility, applicable terms, verification and documentation. A longer tenure may reduce monthly EMIs by spreading repayment over more months, but can increase total interest payable. Borrowers should compare the interest rate, tenure, EMI, processing charges and other costs, while considering their income, existing commitments and repayment capacity. Loan Utsav 2026 provides limited-period rewards for eligible customers whose loans are successfully disbursed during the campaign period, subject to applicable terms.
August 28, 2026
Show AI Summary
Digital arrest money laundering investigation tracks cyber-fraud proceeds through layered bank accounts, cash withdrawals, and foreign-exchange conversion.
Arrests under the Prevention of Money Laundering Act form part of an investigation into alleged digital arrest cyber fraud and laundering of fraud proceeds. Funds were reportedly routed through numerous bank accounts, withdrawn in cash, and converted into foreign currency through licensed money changers. The financial trail is linked to commodity trading, travel and foreign-exchange entities allegedly connected with cyber-fraud complaints and first information reports. The inquiry also identified alleged shell or dummy companies using proxy directors to conceal control and facilitate fund movement.
August 28, 2026
Show AI Summary
Foreign exchange intervention and lower crude prices supported rupee appreciation despite a stronger dollar and foreign institutional investor outflows.
Foreign exchange market conditions supported a six-paise appreciation of the rupee against the US dollar at the close of trading. Lower global crude oil prices and Reserve Bank of India intervention to limit significant rupee depreciation contributed to the movement. A marginal strengthening of the US dollar and foreign institutional investor equity outflows continued to exert pressure, while FCNR(B) scheme inflows supported the currency.
August 28, 2026
Show AI Summary
Cyber fraud impersonating enforcement officials coerced a senior citizen into bank and cryptocurrency transfers through terror-funding threats.
Cyber fraudsters allegedly impersonated public officials and threatened a senior citizen with implication in money laundering, terror funding and cybercrime. Using WhatsApp video calls and purported official notices, they allegedly induced the victim to transfer funds to multiple bank accounts and a cryptocurrency wallet on the pretext of proving innocence. The victim reportedly liquidated fixed deposits and mutual fund investments before identifying the deception and reporting it through the cybercrime helpline. A cyber police case was registered for further investigation.
August 28, 2026
Show AI Summary
Rupee depreciation against US dollar reflects foreign investor outflows and crude supply disruptions, moderated by weaker dollar and oil prices.
Foreign institutional investor outflows and disruptions in global crude oil supplies placed downward pressure on the rupee against the US dollar. A weaker dollar index and lower Brent crude prices moderated the decline. Market commentary anticipated a narrow trading range, with expected Reserve Bank of India protection at the upper end and oil importer, month-end, and importer demand supporting the lower end. Participants also monitored the US Federal Reserve Chair's Jackson Hole speech.
August 27, 2026
Show AI Summary
Emergency flood response measures coordinate rescues, suspend cross-border transport, and address risks to public safety.
Severe flash floods in Nepal and along the Nepal-Tibet border prompted cross-border rescue coordination for missing and stranded persons, warnings of continued downstream flood risk, and international relief support. Preventive public-safety measures included temporary suspension of an Indo-Nepal bus service. Separate developments included disruption of public services during an employee strike, investigation of an aircraft crash, market measures affecting sugar and onion prices, and proposed trade engagement for greater market access for basmati rice and processed food exports.
August 27, 2026
Show AI Summary
Regulatory review of fraud allegations requires timely consideration of representations while merits and standing remain undecided.
SEBI must consider and decide, within two weeks, representations alleging fraud by an Indian logistics company and its subsidiary. The allegations concern systematic over-invoicing of freight charges and forged documentation, with a parallel criminal investigation based on an FIR registered by the Delhi Police Economic Offences Wing. No determination has been made on the merits of the allegations or the complainant's standing to approach SEBI. The allegations and criminal proceedings were disclosed in IPO offer documents.
August 27, 2026
Show AI Summary
Personal insolvency repayment plans test creditor voting thresholds, valuation safeguards, and limits on commercial review under insolvency law.
Personal insolvency resolution under the Insolvency and Bankruptcy Code involved approval of a repayment plan providing for payment of Rs 6.25 crore to creditors and Rs 25 lakh towards process costs against admitted creditor claims of about Rs 22,006.57 crore. Objections by dissenting creditors were rejected because they held less than 20 per cent of voting share, while the plan received 80.81 per cent support. Valuation indicated that the personal estate was worth less than the amount offered, and the tribunal declined to replace creditor commercial wisdom or assess settlement adequacy.
August 27, 2026
Show AI Summary
Sovereign credit rating stability reflects policy continuity, infrastructure investment, external strength, and fiscal consolidation pressures.
India's sovereign credit rating retained a BBB stable outlook, supported by strong growth, an external balance sheet, stable institutions, policy predictability, and infrastructure investment. Public investment and consumer demand are expected to sustain growth and assist fiscal consolidation. Constraints include weak fiscal performance, elevated government debt and interest burdens, and low per-capita income. Long-term rating support depends on financing infrastructure investment without materially widening the current-account deficit and on reducing the fiscal deficit through stable fiscal and monetary policies.
August 27, 2026
Show AI Summary
Sugar import liberalisation and stockholding limits seek to moderate retail prices amid constrained domestic supply and restricted exports.
Sugar price-control measures combine duty-free raw sugar imports, stockholding limits for dealers and bulk consumers, and an export prohibition to address elevated retail prices and curb hoarding. Domestic supply remains constrained by reduced sugarcane output, prior exports and diversion of sugar to ethanol. Net production is estimated below projected domestic demand, while closing stocks are expected to remain limited. Import access, inventory restrictions and export controls therefore operate as market-stabilisation mechanisms.
August 27, 2026
Show AI Summary
Money-laundering investigation into alleged homebuyer fraud led to searches and freezing of assets linked to realty promoters.
Money-laundering proceedings were initiated under the Prevention of Money Laundering Act on the basis of police FIRs alleging fraudulent inducement and non-delivery of residential plots. Searches at premises linked to real estate promoters resulted in the seizure or freezing of luxury vehicles, jewellery, bank accounts and securities. The investigation alleges that substantial upfront payments for residential plots were received, but a significant portion of promised plots remained undelivered, and certain plots were allegedly sold to third parties without consent.
August 27, 2026
Show AI Summary
Commercial card governance enables configurable credit, approvals, virtual cards and controlled supplier payments across enterprise payment workflows.
SpendFlow combines commercial card program configuration, credit management, virtual cards, spend controls, approvals, supplier payments, billing and accounting in one architecture. It supports centrally governed rules with approved corporate-level variations, enterprise hierarchy management, and virtual cards linked to entities, employees, accounts or credit facilities. Multi-tier approvals and virtual-card supplier payments support controlled business payment functions, while core banking and ERP connectivity links card activity with banking and enterprise financial workflows.
August 27, 2026
Show AI Summary
Basmati rice market access may be pursued through trade agreement review, subject to import limits and safety standards.
Market access for Indian basmati rice may be pursued through review of the Comprehensive Economic Partnership Agreement, as rice remains a sensitive sector subject to import quantity limits and duties beyond permitted quantities. Processed food exports offer further opportunities where exporters comply with Japanese quality and safety standards. Bilateral cooperation also covers investment, supply chains, technology partnerships and capital flows supporting infrastructure, manufacturing and semiconductor ecosystems.
August 27, 2026
Show AI Summary
Capital allocation discipline governs consideration of further Air India funding alongside business strategy, cash flow and investment requirements.
Further capital investment in Air India will be evaluated by Singapore Airlines' board through a disciplined capital-allocation process. Assessment will consider the group's capital requirements, Air India's business strategy, operating cash flow, investment needs for aircraft and products, and multi-hub investments intended to support long-term growth and returns. As a significant minority shareholder, Singapore Airlines supports Air India's transformation programme with Tata Sons, but no commitment to provide additional capital is indicated.
August 27, 2026
Show AI Summary
Semiconductor investment cooperation anchors expanded India-Japan industrial partnerships across technology, manufacturing, clean energy, infrastructure, and financial services.
Semiconductor and artificial-intelligence cooperation centres on a six-pillar semiconductor strategy encompassing chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. Japanese participation is sought across semiconductor materials and equipment, power semiconductors, electronics, AI, logistics and related advanced technologies. Development of semiconductor clusters is linked to reliable power, ultra-pure water, skilled manpower and social infrastructure.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters
Customs, DGFT & SEZ

Ministries of Tourism and Culture meet the 15th Finance Commission

August 27, 2019

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Ministries of Tourism and Culture meet the 15th Finance Commission

Stress on Tourism and Culture as vehicles of employment generation, income growth and national integration & international relations.

States to be incentivised by XVFC for promotion of Toursim and Culture

The Minister for Tourism and Culture, Shri Prahlad Singh Patel and senior officials from both the Ministries today called on the 15th Finance Commission headed by  Chairman, Shri N.K. Singh to put forth the financial projections of the Ministries on various schemes and projects and also suggest measures for incentivizing States by the Finance Commission in its rewards, for the promotion of tourism and culture.

The Chairman, Shri N. K. Singh observed that the Tourism and Culture sectors are very important for the Finance Commission as they were engines of employment generation, income growth, integral part of integration of the nation and for building international relations.  He says that the Commission was aware of the typical problems of the sectors most of which were legacy issues.  The Chairman was of the view that major changes were required in the ASI Act 1958,  which was dated and not suited for current times.  He suggested that private sector participation should be encouraged for the up-keep of protected monuments and should be enacted to aggressively market the monuments amongst international and domestic tourists.  The meeting discussed the Prime Minister’s stress on domestic tourism and Chairman was of the view that sending school students to the different parts of the country should be made mandatory on the part of the school - by making it a part of the school syllabus.  He recalled that he had already raised  this issue with the Union  HRD Minister,

Shri Ramesh Pokhriyal. The  meeting discussed the problems facing the hotel industry and the lack of connectivity infrastructure which was hampering the growth of tourism across the country.

The Commission was informed by the Tourism Ministry that –

  • Niche Products have been identified by the Ministry of Tourism for development and promotion: i. Cruise ii. Adventure iii. Medical (also called medical travel, health tourism or global healthcare) iv. Wellness (Indian system of medicine covered by Ayurveda, Yoga, Unani, Siddha and Homeopathy (AYUSH) v. Golf vi. Polo vii. Meetings Incentives Conferences & Exhibitions (MICE) viii. Eco-tourism ix. Film Tourism x. Sustainable Tourism
  • Human Resource Management and Broad-basing of the Hospitality Education followed by Capacity Building for Service Providers leading to easy access to tourism destinations in terms of international transport and facilities are the major areas of concern for the Ministry.
  • MoT to work towards augmenting tourism infrastructure, easing of visa regime, assurance of quality standards in services of tourism service providers, projecting the country as a 365 days’ tourist destination, promoting tourism in a sustainable manner
  • MoT to accord priority for holistic development of tourism destinations into world class destination using a cluster approach including development of infrastructure, amenities, interpretation centres and skill development by achieving synergy and convergence with other Central Ministries, State Governments and Industry Stakeholders
  • Major schemes of the Ministry of Tourism for achieving its objectives:
  1. Integrated Development of Tourist Circuits around Specific Themes – Swadesh Darshan
  2. National Mission on Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive (PRASHAD)
  3. Assistance to Central Agencies for Tourism Infrastructure Development
  4. Domestic Promotion & Publicity including Hospitality (DPPH)
  5. Overseas Promotion & Publicity Including Marketing Development Assistance (MDA).
  6.  Assistance to IHMs/FCIs etc.,
  7. Capacity Building for Service Providers (CBSP).
  • The Ministry of Tourismobserved that State Governments need to be incentivised for contributing to infrastructure development of Tourism destinations by providing land, taking up development of lesser known tourism destinations, provision of wayside amenities and capacity building of hospitality industry.  
  • The Ministry has suggested that the performance of the States in tourism sector can be looked into from Foreign Exchange Earnings and Foreign Tourist Visits perspective. However, Foreign Exchange Earnings are compiled by RBI at National Level and hence, it is not possible to get segregated figures for States and the same may therefore, not be suitable for the purpose.
  • Ministry of Tourism has a mechanism to capture the Foreign Tourist Visits to different States which can be used to assess the performance of States in the tourism sector. The claims of the States regarding Foreign Tourist Visits could be crosschecked by undertaking sample surveys for providing performance based incentives to States.
  • Further, the Ministry of Tourism has requested that the performance of States could be assessed through a broader framework beyond export effort by using key parameters such as:
  1. State expenditure on Tourism
  2. Tourists visits
  3. Presence of classified Hotel Rooms
  4. Effectiveness of marketing campaign
  5. Ease of Doing Business
  6. Classified hotel rooms
  7. Policy guidelines and incentives
  8. Tourist Feedback
  • The projection of expenditure by the Ministry of Tourism for the year 2020-25 are as follows:

Year

Rs. in crore

2020-21

3740.33

2021-22

4987.24

2022-23

4920.10

2023-24

4484.33

2024-25

3904.03

Total

22036.03

The Commission was informed by the Culture Ministry that – 

  • A Strategic Shift was envisaged in the culture sector. The programmesmust be integrated into strategies for sustainable development at every level and take into account the needs and aspirations of the community where cultural assets are found. Sustainable heritage conservation depends upon the commitment and involvement of local communities. Conservation policies, to be successful, need to promote local community stewardship of the heritage as well as provide socio-economic benefits for local communities. Therefore, a direct link must be made between safeguarding the heritage and socio-economic development. This calls for the deliberate recasting of heritage conservation as a development activity that brings economic opportunities, creates jobs, and generates income based on traditional technologies and knowhow.
  • While ongoing professional and institutional efforts at heritage conservation would be strengthened, participatory approach would be used to catalyse engagement of local community and various interest groups.
  • The programme assistance should be provided in the form of practical, technical, and small “start-up” grants to the local communities and NGOs. At least some p[art of the annual plan outlay for culture should be used for these “local” grants.

 The Ministry of Culture was of the view that: 

  • The Archaeological Survey of India (ASI) needs to be strengthened for proper conservation, preservation and maintenance of the build heritage of the country. For this, it would be necessary to prepare a comprehensive coordinated plan for conservation and development of monuments and archaeological sites by the Central and State governments and academic and research institutions. UNESCO Category-2 Regional Centreswould be established.
  • Efforts would be stepped up for conservation of unprotected heritage buildings, monuments, archaeological sites, and historic buildings. Fellowships for visiting scholars would be instituted. Cultural Heritage Management Council would be created. And, finally, mapping of cultural heritage resources would be taken up. Schools would be engaged in mapping of local history, ecology and cultural heritage of the area where they are located.
  • A large number of Science museums in partnership with the Ministry of Science and Technology and Ministry of HRD also be established. These could have three parts-pedagogy centre for school/college teachers, science activity centre for students, and science Exploratorium for general public.
  • A mechanism should be established to enable ASI to provide financial assistance to projects proposed by the scientific organisations of State Governments, departments of anthropology in universities, NGOs involved in anthropological studies and similar bodies. Further, assistance to State Governments, institutions and organisationsshould also be provided for documentation and dissemination of research results in the field of anthropology.
  • It will also develop its own repertoire and be a vibrant cultural hub. This would require about 15-20 acre land in Central Delhi.
  • Similar centres may also be set-up in Kolkata, Chennai and other major cities in due course. In Kolkata, the area encompassing RabindraSadan Cultural Complex and Central Cultural Institute has a potential to be developed into such a Centre. New and innovative institutional arrangements and partnerships may be needed to create and manage such integrated complexes.
  • India should explore the possibility of having a permanent presence at the prestigious Venice Biennale of Art. The space could be used not only for the Art Biennale but also for the equally prestigious Venice Biennale of Architecture and in the lean months for any other cultural activities.

The Ministry projected that :

  • Central Government needs to partner with the State Governments in making the State Academies play an important role in preserving and promoting performing, visual and literary arts of each state.
  • In order to leverage professional expertise and capacity from outside in specific disciplines, Government could enter into partnership with selected universities, institutions of national importance, research institutions and cultural organisations to undertake a mutually agreed programme and function as Centre of Excellence in the specified fields. While autonomy of these organisationswill be respected, deliverables will be closely monitored.
  • Several steps like electronic payments, online applications and minutes of expert committees available online have been introduced to bring about transparency.
  • Capacity-building and training of personnel to work in various Cultural Organisations is a critical requirement. Presently, some training is being imparted, but in a limited and distributed manner with various institutes under the aegis of the Government. Coordination and expansion of training research should be undertaken through an apex institutional mechanism or a Central Cultural University for the purpose.

Summing up the meeting, the Chairman asked the two Ministries to give all necessary details to the Finance Commission which would help it make important recommendations on:-

  • Incentivising States by giving sector specific grants for Tourism & Culture.
  • Award States for meeting specific requests for Culture and Tourism.
  • Key factors of a new ASI Act – which would bring into focus the by recommendations for highlighting India’s cultural heritage.

Topics

Acts Income Tax