Finance Ministry

Finance ministry clarifies on hike in STT on options trading

The Finance Ministry on Friday evening clarified that the securities transaction tax (STT) on options trading has been hiked by 25 per cent from 0.05 per cent to 0.0625 per cent, and not from 0.017 per cent to 0.021 per cent, saying that it was a typographical error and the rectification will be done in accordance with the extent procedure of the government.

Income of BBC entities not commensurate with scale of operations: Govt

'During the course of the survey, the (Income Tax) Department gathered several (pieces of) evidence indicating that tax has not been paid on certain remittances which have not been disclosed as income in India by the foreign entities of the group,'' the Finance Ministry said without directly naming the BBC.

Resilient demand to push economic growth, says October economic review

Global spillovers may dampen India's export businesses outlook, however, resilient domestic demand and a rejuvenated investment cycle as well as a strong financial system will push economic growth, as per the monthly economic outlook review for October released by the Finance Ministry on Thursday.

Govt to borrow Rs 5.92 lakh crore in second half of current fiscal

The government will borrow Rs 5.92 lakh crore, or 41.7 per cent of planned gross market borrowing of Rs 14.21 lakh crore for the current financial year, in the second half of the fiscal ending March 31, 2023, the Finance Ministry said in a statement on Thursday.