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    15th Meeting of ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee held during 6-9 October 2026
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October 9, 2026
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AITIGA review negotiations face time-bound subcommittee deliverables to resolve policy issues and modernise trade arrangements.
The AITIGA Joint Committee directed its sub-committees to accelerate pending review chapters through firm, time-bound deliverables and close coordination. Work covers legal and institutional issues, national treatment and market access, and rules of origin. ASEAN and India reaffirmed their commitment to resolve outstanding policy issues, deepen economic integration, and modernise the Agreement into a balanced and mutually beneficial framework strengthening bilateral trade.
October 9, 2026
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International investment law requires balance between investment protection and States' regulatory authority amid sustainability and digital trade challenges.
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October 9, 2026
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Expenditure-side GSDP compilation framework standardises regional estimates through common methods, local data sources, and allocation indicators.
Draft guidelines establish a uniform framework for compiling expenditure-side Gross State Domestic Product estimates using base year 2022-23. They cover data sources, estimation procedures and methodologies for private and government consumption, gross fixed capital formation, inventory changes, valuables and net exports. State-specific data and allocation indicators are preferred, while recommended allocation methods support consistent estimates where direct subnational data are unavailable. The approach is intended to harmonise estimation practices and strengthen subnational national accounts capacity.
October 9, 2026
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Freehold land monetisation proceeds through a two-stage electronic sale requiring technical bids and an Earnest Money Deposit.
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October 9, 2026
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India-Singapore investment cooperation advances through investor engagement, financial connectivity, capital-market participation, and support for identified investment opportunities.
India-Singapore investment cooperation is to be strengthened through engagements with political leadership, business representatives and global institutional investors. Discussions cover trade and investment, digital financial connectivity, capital markets, taxation, advanced manufacturing, skilling and aviation. The National Investment and Infrastructure Fund and GIFT City are identified as channels for Singaporean capital participation through investment vehicles and funds. The Ministry of Finance will facilitate connections between investors, Indian companies, financial institutions and State Governments for identified investment opportunities.
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Free trade agreement utilisation enables MSME market access, rules-of-origin awareness, export participation, and foreign investment opportunities while protecting sensitive sectors.
Free Trade Agreements are positioned to preserve sensitive domestic interests, particularly agriculture, fisheries and MSMEs, while widening market access for agricultural, marine, engineering, precision and electronic products and facilitating foreign investment. Proposed FTA utilisation desks across State Councils would assist MSMEs in using preferential arrangements, understanding rules of origin and market-access opportunities, participating in delegations and exhibitions, and presenting products and technologies to overseas markets.
October 8, 2026
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October 8, 2026
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Highway asset acquisition approval covers full ownership transfer of a tollway operator and road-project special purpose vehicles.
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October 8, 2026
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Competition Commission of India approved the proposed combination involving CPP Investment Board Private Holdings (4) Inc.'s acquisition of certain shareholding in Prestige Hospitality Ventures Limited. The target is an Indian public limited company within the Prestige group and owns and develops hospitality assets, including hotels and serviced apartments. The acquirer is incorporated in Canada and is managed by Canada Pension Plan Investment Board.
October 8, 2026
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Internal group restructuring receives merger-control approval for amalgamating an integrated steel producer into the group's steel manufacturer.
Merger-control approval covers the proposed internal JSW Group restructuring through amalgamation of BMM Ispat Limited into JSW Steel Limited. The amalgamation would convert the group's majority interest in BMM into full ownership and is intended to enhance operational, financial and organisational efficiencies through economies of scale, resource pooling and capital rationalisation. BMM is commercially integrated in the group's supply chain through intra-group sales and procurements.
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Transparent land e-auction procedures support bidder preparedness through mock training, registration and earnest-money requirements for phased asset monetisation.
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October 7, 2026
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Cross-border financial cooperation guides work on market access, sustainable finance, fintech safeguards, and payment interoperability.
India-UK financial-markets cooperation covers capital-market connectivity, cross-border listings, investor access and development of GIFT IFSC as an international financial centre. Engagement also addresses insurance, pensions, asset management, sustainable-finance disclosures and cross-border investment. Fintech cooperation includes digital public infrastructure, central bank digital currencies, data exchange, responsible artificial intelligence, fraud prevention, cyber security and operational resilience. Cross-border payments work prioritises reduced frictions, transparency, efficiency and interoperability of electronic payment infrastructures.
October 7, 2026
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Investment commitments and tariff predictability under India-EFTA TEPA support market access, supply-chain planning, and long-term bilateral trade.
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October 7, 2026
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Foreign investment engagement focuses on expanded partnerships across financial services, manufacturing, insurance, and emerging technologies in India.
India-U.S. trade and investment engagement was pursued through discussions with leading United States companies on expanding investment, partnerships and commercial operations in India. Financial-sector discussions addressed private equity, asset and wealth management, insurance, and financial services, including prospective engagement aligned with the objective of insurance access for all by 2047.
October 7, 2026
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Policy repo rate recalibration responds to inflationary pressures, adopting calibrated tightening while future actions depend on growth and inflation conditions.
Monetary policy is recalibrated through an increase in the policy repo rate under the liquidity adjustment facility by 25 basis points to 5.50 per cent. The monetary policy stance shifts to calibrated tightening, indicating that near-term rate reductions are excluded and that subsequent action may consist of a rate increase or a pause, depending on evolving conditions and the outlook. Further rate action depends on growth-inflation developments, underlying inflation, broadening price pressures, second-round effects and demand impulses.
October 7, 2026
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Index of Services Production expansion proposes broader service-sector coverage through education, health, residential care, public administration and defence.
The Index of Services Production is proposed to expand beyond its initial formal-sector coverage, which relies on high-frequency administrative data and GST outward-supplies data. Education, Human Health and Residential Care, and Public Administration and Defence are proposed for inclusion. Their incorporation would increase coverage of services-sector Gross Value Added and support aggregation of sub-sectoral indices into a unified measure of short-term services-sector movements. Stakeholder views are invited on the proposed methodology.
October 7, 2026
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Cross-border gold smuggling enforcement addresses concealed foreign-origin gold transport through customs seizure, arrest, and investigation of organised networks.
Intelligence-led customs enforcement targeted cross-border gold smuggling through surveillance and interception of four persons travelling from a border route. Personal searches recovered foreign-origin gold biscuits concealed in specially tailored cloth waist belts. Seventy-two gold biscuits were seized under relevant provisions of the Customs Act, 1962, and the four persons were arrested. Investigation continues into organised networks and wider syndicates involved in the movement and distribution of smuggled gold.
October 6, 2026
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Financial inclusion drives digital lending, insurance claim awareness, portal enrolment, and banking access for marginalised sections.
Banks were urged to expand brick-and-mortar branches and banking correspondent coverage in unbanked villages, strengthen digital outreach, and implement end-to-end digital loan processing. Working-capital lending for micro-enterprises through UPI-linked credit lines and credit cards was highlighted. Banks were also directed to increase awareness of insurance claim eligibility, exercise care in claim-related grievance handling, and enrol new PMJJBY and PMSBY beneficiaries through the Jan Suraksha portal.

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Guidance Note – Form Nos. 93/94/95/96

March 31, 2026

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Form No. 93/94/95/96 (Earlier Form No. 49A/49AA)

Form Nos. 93/94/95/96: Forms for PAN Allotment

Form No.

Applicant Type

Reference Rule/Section

93

Individual (Being Citizen of India)

Rule 158, Sec. 262

94

Non-Individual Indian Entities

Rule 158, Sec. 262

95

Individual (Not being a Citizen of India)

Rule 158, Sec. 262

96

Non-Individual Foreign Entities

Rule 158, Sec. 262

Purpose:

PAN allotment Forms are to be filled by the applicant who want to apply for Permanent Account Number (PAN).

Who Should File:

Any person (Individual/Entity) who want to apply for PAN allotment.

Existing Forms for PAN Allotment as per Income-tax Rules, 1962:

In the Rule 114 of Income-tax Rules, 1962, two forms are notified based on citizenship of the applicant i.e. Form 49A for Indian Citizens/Indian Companies/Entities incorporated in India/Unincorporated Entities formed in India, and Form 49AA for Individuals not being a Citizen of India/ Entities Incorporated outside India/ Unincorporated Entities formed outside India.

Structure of Forms:

⮚ Personal Information: Information such as Name, Gender, Date of Birth/Incorporation, address, contact details etc.

⮚ Source of Income: Nature of Income details

⮚ Parents’ Details: Name of the parent and information regarding single parent

⮚ Assessing Officer Code: Jurisdiction details

⮚ Representative Assessee Details: Information of the representative assessee such as name, address, contact details etc.

⮚ Declaration: Declaration statements along with date and place for signature and thumb impression.

Supporting documents required:

Supporting documents, as listed in Rule 158, are required in support of:

⮚ Proof of Identity

⮚ Proof of Address

⮚ Proof of Date of Birth/Date of Incorporation.

Application Count:

About 2 to 2.5 Lakh applications per day.

What is the process flow of filing the Form?

The process flow includes following steps

  1. Applicant has to fill PAN allotment application form, pay prescribed fees and submit it online or in physical mode to PAN Service Providers (SPs).
  2. Digitization of application (in case of physical mode), eyeballing of supporting document viz-a-viz details entered in PAN application (verification of documents) by PAN SPs.
  3. After successful verification, sharing of data to ITD for generation of PAN.
  4. PAN allotment and dispatch of physical PAN card, if opted for it.

Outcome of Processed Form:

PAN allotment to the applicant.

Brief note on qualitative changes:

Based on stakeholders’ feedback, PAN application forms have been simplified, and four Forms have been notified pertaining to four different categories of users.

  • Form No. 93 - Individual being a citizen of India
  • Form No. 94 – Indian Companies/Entities incorporated in India/Unincorporated Entities Formed in India
  • Form No. 95 – Individuals not being a citizen of India
  • Form No. 96 - Entities incorporated outside India / Unincorporated Entities Formed outside India

Key changes made in the Forms:

⮚ The forms have been designed in such a way that they are precise, to the point and self-explanatory and instructions accompanying the forms are clear, unambiguous and aligned with IT Act and rules.

⮚ Consistency has been maintained across forms in terms of nomenclature and structure.

⮚ Simplification of the forms categorizing them into four different types so that each form contains only the relevant information related to a specific category of applicant to ensure ease of filling the form.

⮚ Contact details (mobile, email etc.) have been made mandatory for all the applicants, so that real time communication can happen directly with the applicant. This also aids the applicant in tracking the application and getting updated information directly from ITD.

⮚ The size of the photograph has been increased for better visibility and identification.

⮚ The sub-categorization of the entity status has been given in detailed manner as part of the form itself which helps in identifying the entity specifically.

⮚ Various fields which are not relevant (e.g. Salutation, Abbreviations of name, ‘have you ever been known by any other name’, KYC details for FPI applicants) have been removed.

Changes made with respect to the specific category of applicants

Resident individuals:

⮚ In case of name field, full name is taken in expanded form and initials are allowed in cases where the name of the applicant in Aadhaar contains initials. This ensures that the applicant does not face difficulty of mismatch during Aadhaar authentication.

⮚ Mother’s name has been made mandatory.

⮚ Residential status (resident/non-resident/resident but not ordinarily resident) field added for Indian citizen.

⮚ The option of getting the PAN card delivered to the office address has been given along with the residential address if additional proof to this effect is submitted.

⮚ In case of the representative assessee (RA), the details (such as mobile number, email and PAN/Aadhaar) etc. of the representative assessee are being made mandatory in order to establish the genuineness of the RA.

⮚ In case of citizens who are non-residents, Resident but not ordinarily resident, the details of passport and Tax Identification Number (TIN) have been made mandatory.

Indian Companies/Entities incorporated in India/Unincorporated Entities Formed in India:

⮚ The option of getting the PAN card delivered to the communication address has been given along with the office address for the entities if additional proof to this effect is submitted.

⮚ For the ease of communication, the contact details (such as mobile number and email) have been made mandatory.

⮚ In case of entities, the Authorized Representatives (ARs) of the entities are allowed in addition to Representative Assessee for the purpose of application of PAN. Also, the details of the RA/AR along with proof documents are to be submitted for ensuring genuineness.

Individuals not being a citizen of India

⮚ Additional information (foreigner/PIO /OCI) in respect of Citizenship type field has been added for foreign citizen.

⮚ Proof of date of birth has been made mandatory for foreign citizen. This ensures the authenticity of the information being submitted.

⮚ Fields have been provided for capturing Passport number (if any) and TIN number for authenticity.

⮚ The Aadhaar details (wherever available) is captured for record and authentication purposes.

Entities incorporated outside India / Unincorporated Entities Formed outside India

⮚ Proof of Date of incorporation have been made mandatory for entities registered outside India.

Challenges and Solutions:

a. The revised Forms have been made smart and easy to fill ensuring better user experience.

b. The long pending problem regarding mismatch of name in PAN card and Aadhaar due to initials has been addressed thereby redressing the grievance of large number of applicants.

c. Standardization of name & address fields etc.   

Topics

Acts Income Tax