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Finance Ministry

5,800 Shell Companies under Govt scanner for Money Laundering

KalingaTV News Network New Delhi: The Union Government has said it has collated information on as many as 5,800 shell companies whose near zero balance accounts saw nearly Rs 4,600 crores of deposits post the demonetisation note ban and…

Petrol, diesel cheaper as Govt cuts Excise Duty by Rs 2

KalingaTV News Network New Delhi: Petrol and Diesel became cheaper from midnight last night after the government reduced the basic excise duty on these two petroleum products by two rupees per litre. The reduction applies to both…

PIL in Orissa HC seeks petrol, diesel under GST

KalingaTV News Network Cuttack: A social activist on Monday filed a public interest litigation (PIL) in the Orissa High Court seeking bringing petrol and diesel under the ambit of Goods and Services Tax (GST). Social activist…

Finance Ministry approves 8.65% Interest on EPF for 2016-17

Union Labour & Employment Minister Bandaru Dattatreya confirmed that the Finance Ministry has approved 8.65% interest rate on EPF deposits for 2016-17 financial year. The Minister sought to end all speculations that EPF rate could be…

Union Govt sets up Panel to examine Virtual Currencies

The Union Government has set up an Inter-Disciplinary Committee to examine the existing framework with regard to Virtual Currencies including Bitcoins. The Committee, chaired by Special Secretary (Economic Affairs), will take stock of…