Undisclosed income detection: searches reveal large undeclared assets, bogus expenses and undisclosed capital gains requiring further tax investigation.
Coordinated searches uncovered substantial undeclared assets and corporate tax irregularities: an ex director's accumulation of undisclosed assets; company claims of bogus work in progress, fictitious consultancy fees and inadmissible interest deductions; offshore routed share sales with undisclosed capital gains; and related land and convertible debenture issues. A supplier group showed three tier sales reporting, use of accommodation bills and commission schemes, and unaccounted capital/loan infusions. Quantification is ongoing and aggregate undisclosed income identified to date is substantial.

UDIN validation required for tax audit reports; failure to update UDIN within the allowed period renders submissions invalid.
The Income-tax e-filing portal is integrated with the ICAI portal to validate the Unique Document Identification Number (UDIN) provided by Chartered Accountants for tax audit reports and certificates; UDIN quoting is mandatory for CA-certified documents, and submissions made without a UDIN must be updated within a prescribed period or will be treated as invalid.

Tax search and seizure uncovers alleged bogus accommodation entries and shell company loans, prompting ongoing investigation.
Coordinated search and seizure operations allege the group obtained non genuine unsecured loans as accommodation entries from paper shell companies with dummy directors, constituting unaccounted income; a related chit fund link is said to contravene the Chit Funds Act. Authorities have seized jewellery and cash, identified unaccounted residential investments for valuation, located multiple lockers, and are continuing verification and investigation.

Infrastructure financing enables high speed regional rapid transit with advanced rolling stock and train control for sustainable urban mobility.
A loan agreement was signed for the Delhi Ghaziabad Meerut Regional Rapid Transit System under which NDB will finance rolling stock and advanced signalling, telecommunications and train control equipment (including automatic train operation, protection and supervision and platform screen doors) to deliver a high speed, energy efficient corridor that reduces congestion and emissions; the project's financing is syndicated among multilateral lenders and other sources, and NDB's contribution is a long tenor loan with an extended grace period to support procurement and implementation.

Safe harbour threshold for circle rate raised to ease tax deeming in primary residential transactions for lower-value sales.
For the period from 12 November 2020 to 30 June 2021, the safe harbour for deeming circle rate as sale or purchase consideration is increased for primary sales of lower-value residential units so that circle rate is treated as consideration only where the variation between agreement value and circle rate exceeds the expanded tolerance; this relief applies symmetrically to developers and buyers and aims to facilitate liquidation of unsold inventory.

Public consultation: online portal opened to collect citizens' ideas for the annual budget, submissions reviewed by ministries.
Public consultation established to solicit ideas for the Annual Budget via a dedicated email and a micro site; individuals must register to submit proposals, which will be examined by concerned Ministries/Departments and may prompt follow up contact using the registration email or mobile number.

Employment subsidy scheme to reimburse provident fund contributions and expanded credit guarantees to spur job creation and revival.
A twelve measure stimulus package includes a two year employment subsidy scheme reimbursing EPF contributions for eligible new and reinstated employees in EPFO registered establishments, extended credit guarantee support including a targeted ECLGS 2.0 for stressed sectors and healthcare with additional term credit and moratorium, a multi year Production Linked Incentive program for ten manufacturing sectors, procurement security relaxations for government tenders, temporary income tax relief for certain primary residential sales, and targeted fiscal outlays for housing, fertilizers, rural employment, project exports, infrastructure debt financing and vaccine R&D.

Searches and tax detection: unaccounted bullion stock identified and forensic analysis underway to quantify undisclosed business income.
Searches of a wholesale bullion and gold jewellery group uncovered significant unaccounted stock and system data showing income omitted from books; business stock was identified but not seized due to seizure limitations, and forensic tools are being used to extract multi year data. Investigations revealed use of concealment software and provisional invoices destroyed on delivery; extracted data will quantify unaccounted income, trace related undisclosed transactions, and support inquiries into non business investments and accommodation entries.

Tax transparency reforms expand faceless assessment and automatic acceptance of returns, reducing compliance burdens and restoring trust.
Shift from adversarial enforcement toward tax transparency is advanced by largely trusting filed returns through initial acceptance, expanding faceless assessment and appeal mechanisms, digitising hearings, accelerating refunds, and raising monetary thresholds for appeal to reduce disputes and protect the dignity of honest taxpayers.

Viability Gap Funding scheme continuation expands funding caps and introduces two sub schemes to promote PPPs in social infrastructure.
Cabinet approval continues and revamps the Viability Gap Funding (VGF) Scheme to 2024 25, introducing two sub schemes for social infrastructure: Sub scheme 1 requires 100% operational cost recovery and allows Central VGF up to 30% of Total Project Cost with additional State/sponsoring support up to 30%; Sub scheme 2 supports pilot social projects with 50% operational cost recovery where Central and State support may cover up to 80% of capital expenditure and up to 50% of O&M for five years, with Central support up to 40% of TPC and up to 25% of operational costs in the initial five years.

Undisclosed foreign investment and tax suppression prompt investigation, Black Money and benami probes and tax additions likely.
Searches uncovered undisclosed foreign share subscription generating undeclared taxable benefit, triggering Black Money Act proceedings; use of shell companies to siphon funds abroad and effect related-party share purchases with partial disclosure by the assessee; manipulation of preference share accounting to inflate capital; diversion of interest-bearing loans interest-free causing interest disallowance; purchase of land via shell entities under benami scrutiny; and share transfers below fair market value subject to valuation additions and capital gains adjustments, with further investigations ongoing.

Search and seizure into alleged diversion of tax-exempt donations into unaccounted cash and real estate transactions.
Income-tax authorities carried out coordinated search and seizure operations into a religious group and its network of trusts after information that foreign donations and tax-exempt receipts were being diverted into unaccounted cash flows. Investigations revealed use of paper trusts to route funds, systematic inflation of expenses, and domestic hawala-like channels to transfer cash to functionaries; seized materials include sale agreements, electronic data and cash, and further forensic examination is ongoing.

Search and seizure operations uncover sham share investments and unaccounted cash, prompting ongoing fiscal investigation.
Search and seizure operations uncovered documents showing bogus investments in unquoted equity and sale transactions treated as sham transactions, admissions by the assessee in a recorded statement, numerous incriminating documents evidencing cash generation from coal, sand and sponge iron trading and unaccounted facilitation expenses, and seizure of unaccounted cash and bullion; further investigations are ongoing.