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Revised Long-Term Capital Gains Tax Proposal Offers Taxpayers More Flexibility

Ut World August 7, 2024 0

Union Finance Minister Nirmala Sitharaman announced a revision to the long-term capital gains tax proposal on real estate during the Monsoon session of Parliament on August 7. The updated measure allows taxpayers to choose between calculating their tax liability under the old system with Continue Reading

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Finance Minister Sitharaman Counters Opposition’s Budget Criticism Amid Walkout

Ut World July 24, 2024 0

Finance Minister Nirmala Sitharaman on Wednesday addressed the continuous attacks from Opposition parties, who have labeled the Union Budget as ‘discriminatory’. As the proceedings began in the Rajya Sabha, the INDIA bloc parties staged a walkout as Sitharaman began her speech. Undeterred by the walkout, Sitharaman asserted that funds are allocated to every Continue Reading

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New Financial Year Ushers in Key Tax Changes from April 1, 2024

Ut World March 29, 2024 0

As the calendar turns to April 1, marking the beginning of the new financial year, significant changes in the income tax rules announced by Union Finance Minister Nirmala Sitharaman in February’s Budget speech are set to take effect. Among the notable shifts aimed at simplifying the tax filing process and encouraging participation, the default adoption […]Continue Reading

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IRS Officer Suspended Days Before Retirement After Criticizing Finance Minister

Ut World February 2, 2024 0

An Indian Revenue Services (IRS) officer, B Balamurugan, faced suspension on 29 January, just two days prior to his scheduled retirement, following his outspoken criticism of Finance Minister Nirmala Sitharaman. Serving as the Deputy Commissioner for Goods and Service Tax (GST) in Chennai, Balamurugan had demanded the dismissal of the Finance Minister, accusing her of […]Continue Reading

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Nirmala Sitharaman Delivers Shortest Budget Speech, Eyes Full Budget in July

Ut World February 1, 2024 0

In an unprecedented move, Finance Minister Nirmala Sitharaman presented the interim Budget for 2024-25 on February 1, 2024, delivering her shortest speech ever. The speech, which began at 11 am, concluded in just 58 minutes, setting a new record for the briefest budget presentation in her tenure. Sitharaman’s previous shortest budget speech was in 2023, […]Continue Reading

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Union Finance Minister Nirmala Sitharaman to Present Interim Budget 2024: Key Terms Explained

Ut World January 31, 2024 0

As Union Finance Minister Nirmala Sitharaman gears up to present the Interim Budget 2024 in Parliament on February 1, it’s crucial to understand some key terms to fully comprehend the announcements. The budget, which is the last one before the upcoming general elections, includes the Annual Financial Statement (AFS) that details the government’s receipts and Continue Reading

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Regulating Crypto Without Global Consensus Will Not Be Effective: Finance Minister

Ut World April 24, 2023 0

The Finance Minister of India, Nirmala Sitharaman, emphasized the importance of achieving global consensus before regulating cryptocurrencies. She suggested that all stakeholders need to collaborate on creating a universal framework for regulating cryptocurrencies, otherwise, any regulation imposed would not be effective. She also clarified that her statement was not Continue Reading

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Lanka President Thanks 3 Women Leaders, Including Nirmala Sitharaman

Ut World March 8, 2023 0

On Wednesday, Sri Lankan President Ranil Wickremesinghe praised three female leaders, including Finance Minister Nirmala Sitharaman, for giving the debt-ridden island nation’s continuing economic crisis the much-needed support it required. Speaking at a state event in this city commemorating International Women’s Day, Wickremesinghe acknowledged that while many Continue Reading

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Nirmala Sitharaman Says All GST Compensation Dues Will Be Cleared

Ut World February 18, 2023 0

At a meeting of the body that determines GST rates, Finance Minister Nirmala Sitharaman declared that the government would pay the entire 16,982 crore compensation debt out of its own funds today.”We have announced today that the entire due on the pending balance of the GST compensation will be cleared as of today. In other […]Continue Reading

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Budget 2023 Live Updates: In Budget 2023, Big Infra Boost, Relief For Tax Payers In New Regime

Ut World February 1, 2023 0

Nirmala Sitharaman, the finance minister, delivered the Union Budget 2023 today, which announced one of the largest increases in capital spending in the last ten years and predicted that the budget deficit would decrease the next year. In order to lead India through the “Amrit Kaal,” the budget adopted “seven priorities”: inclusive development, Continue Reading