New Delhi, July 25 (IANS) The Central Board of Direct Taxes (CBDT) Chairman Ravi Agarwal has highlighted progress in faster return processing, grievance redressal and litigation reduction.At the 167th anniversary of Income Tax Day celebrations here, Agrawal recalled the priorities set out by Union Finance Minister Nirmala Sitharaman during the previous Income Tax Day celebrations and the expectations articulated at the ‘PRARAMBH programme’ earlier this year, and outlined the Department’s pro…
Latest Arvind Shrivastava News & Updates
New Delhi, July 24 (IANS) More than 7.3 crore income tax returns (ITRs) were filed for Assessment Year 2026, surpassing the number filed in the previous year, Revenue Secretary Arvind Shrivastava said on Friday.Speaking about the ongoing reforms in the direct tax system, Shrivastava said the Income Tax Department should increasingly be viewed as a facilitator for honest taxpayers rather than merely an enforcement agency.He stressed that the use of technology must make tax administration smarter,…
New Delhi, June 20 (IANS) In a significant development, Vivek Aggarwal, Secretary, Ministry of Culture, has been elected and appointed Vice-President of the Financial Action Task Force (FATF), according to an official statement.This is the first time that India will hold the Vice-Presidency of the FATF. Aggarwal will work towards solidifying India’s leadership in the FATF forum, the statement added.“This appointment is a recognition of India’s collective effort and of the strength of our a…
New Delhi, Feb 3 (IANS) The India-US trade deal will further expand and deepen trade between two of the largest economies of the world, Union Revenue Secretary Arvind Shrivastava said on Tuesday.In a statement, Shrivastava said the deal will create more opportunities for our labour-intensive and manufacturing sectors in the US market and give impetus to mutually-beneficial collaboration in high and advanced technology sectors.In a historic move, the US has announced a reduction in tariffs on Ind…
New Delhi, Feb 2 (IANS) Chief Economic Advisor V. Anantha Nageswaran said on Monday that the increase in Securities Transaction Tax on derivatives trading announced in the Union Budget 2026-27 is aimed at securing household savings from highly speculative bets rather than generating revenue for the government.”The purpose (of STT hike) is not revenue generation… the purpose is to ensure hard-earned savings are used to maximise wealth in households. The SEBI has pointed out how people lose mone…
New Delhi, Feb 1 (IANS) The government on Sunday said the intent behind the hike in the Securities Transaction Tax (STT) on futures and options is to address systemic risks and curb excessive speculation.Addressing the media here after the Budget 2026-27 was presented, Revenue Secretary Arvind Shrivastava said the intent to increase STT on futures and options is aimed at curbing excessive speculation as well as systemic risks linked to STT.The stock market reacted negatively to the hike in STT, …
New Delhi, Jan 29 (IANS) Nirmala Sitharaman is the first woman to present the Union Budget for the ninth consecutive time, making history in the country’s Parliamentary history, Prime Minister Narendra Modi said on Thursday.Addressing the 2026 Budget Session in Parliament, PM Modi said that one-fourth of the 21st century has gone by. “This is the beginning of the next quarter. To attain the goal of Viksit Bharat in 2047, the important phase of these 25 years has begun. The first Budget of this…