Tax evasion through bogus expenses and undeclared cash uncovered, exposing laundering, paper-company layering and inadmissible claims.
Investigations found fabricated or unsupported business expenditures routed through a single event management entity and paper companies, involving extensive layering to siphon funds and render claims inadmissible expenditure under the Income tax Act. Searches also exposed land acquisitions through paper companies with large unaccounted cash payments, on money real estate transactions, bogus expense bookings and non recognition of income by a chartered flight operator, rotation of funds via a dubious NBFC, and provisional seizure of undisclosed cash and jewellery.

TCS exemption for non-resident visitors removes collection requirement on domestic tour operators selling overseas tour packages.
The Central Government specified that the TCS provision for sale of overseas tour programme packages shall not apply to a buyer who is an individual not resident in India and who is visiting India, thereby removing the requirement for domestic tour operators to collect tax from such non-resident individual visitors; this change addresses difficulties arising from absence of PAN and refund complications.

Aadhaar-PAN linking requirement: failure to intimate Aadhaar within the compliance window will render PAN inoperative thereafter.
A transitional compliance window until 31 March 2023 permits assessees eligible for Aadhaar who have not intimated it to keep PAN functional for tax procedures while allowing Aadhaar-PAN linking on payment of a prescribed fee; after the window, failure to intimate Aadhaar will render PAN inoperative and attendant statutory consequences for non furnishing or non quoting of PAN will apply.

Asset monetization framework established via NLMC to monetize surplus government land and building assets professionally.
A wholly government owned National Land Monetization Corporation (NLMC) is established to own, manage and professionally monetize surplus land and building assets of CPSEs and other government agencies, to advise and assist government entities on monetisation of under utilized non core assets, to identify and inventory surplus assets for monetization, to act as a repository of best practices and provide technical advice, and to build organisational capacity; governance will be by a mixed Board of senior officials and industry professionals with an eminent professional Chair.

Public debt management: increased dated securities issuance and longer maturity influenced yields and market ownership patterns.
Public Debt Management reported that in October-December 2021 the Central Government issued dated securities with a higher weighted average yield and slightly longer weighted average maturity; no Cash Management Bills were raised and the Reserve Bank did not conduct open market operations. Liquidity remained absorbed under LAF. Secondary market trading concentrated in the 7-10 year bucket around the 10-year benchmark, with private sector banks dominant and mixed net buying/selling across institutional segments. Public debt formed the substantial majority of total government liabilities with a notable share of dated securities having residual maturity under five years.

Anti-dumping duty imposed on select Chinese products, and DGTR recommended duties on numerous additional imported products.
The Central Government, on DGTR recommendations, imposed anti-dumping duty on five Chinese-origin products and the trade remedies authority recommended anti-dumping measures for a broad additional list of products from China, covering chemicals, metals, polymers, textiles, pharmaceuticals, machinery and finished goods, reflecting a product-specific remedial and investigative approach to regulate imports.

Siphoning of Trust funds alleged via bogus expenses and benami property acquisitions, prompting ongoing tax investigations.
Searches of an educational group uncovered evidence of siphoning of Trust funds via bogus expenses routed through dummy companies and LLPs owned by promoters and associates, with funds diverted for personal investments and benami property acquisitions; related immovable properties were provisionally attached and records including promissory notes and unaccounted cash and jewellery were seized.

Land border country investment restricted to government route; transfers causing such beneficial ownership require prior approval.
Foreign investment from entities of countries sharing a land border with India, or where the beneficial owner is situated in or is a citizen of such countries, is allowed only via the Government route; transfers that result in beneficial ownership falling within this restriction likewise require prior Government approval. The investee company is primarily responsible for FDI policy compliance, and violations are treated as capital account contraventions under FEMA subject to penal provisions and regulatory enforcement. Related sovereign security measures under the Information Technology Act are noted.

Search and seizure operations uncovered unaccounted payments and records, triggering an expanded tax probe nationwide.
Search and seizure action recovered documentary and digital evidence showing acceptance of unaccounted "on money" cash receipts and cash loans not recorded in regular books; key employees admitted the modus operandi. Seized items include unaccounted cash, jewellery and restrained lockers, and investigations are continuing to determine the extent of unrecorded receipts and related assets.

Insurance coverage under PMJJBY and PMSBY reported with enrolment and statewise claims data, and pension scheme contribution framework outlined.
Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana are mass insurance schemes providing life and accidental death/disability cover respectively; the release reports cumulative enrolments and statewise claims paid, with an annexure tabulating claims totals sourced to claims portals and insurers. It also summarizes the Pradhan Mantri Shram Yogi Maan-Dhan pension scheme as a voluntary contributory central sector pension for eligible unorganised workers, requiring beneficiary contributions and equal central government matching contributions.

Tax search uncovers bogus purchases, accommodation entries and foreign funding irregularities leading to admissions and further probes.
Coordinated search and seizure operations on a large start-up group produced documentary and digital evidence of bogus purchases, unaccounted cash expenditure and accommodation entries; directors admitted the modus operandi and disclosed additional income. Investigators also uncovered foreign funding routed via Mauritius through high-premium share issuances and a hawala network of shell companies created to provide accommodation entries. Physical seizures included cash and jewellery, and further investigations are ongoing.

Democratization of e commerce through ONDC to expand market access and protect small businesses while boosting startups.
Open Network Digital Commerce (ONDC) is presented as a policy initiative to democratise e-commerce by creating open, non-discriminatory digital marketplace infrastructure that grants small businesses equal opportunity to participate in online commerce. The release situates ONDC within a broader governmental strategy to scale the startup ecosystem through Digital Public Infrastructure and supporting measures such as incubation, funding, tax incentives and streamlined registrations to foster entrepreneurship and geographic diversity among innovators.

Tax filing compliance: new e filing portal registered heavy ITR submissions with substantial verification, processing and refund activity.
Reports portal activity to 15 March 2022: aggregate volumes of Income Tax Returns filed with typewise breakdowns; verification and processing status of returns with most verifications using Aadhaar OTP; refunds issued following processing; volumes of statutory forms filed including specified extended due filings; and taxpayer assistance provided via helpdesk calls, chats, email grievance channels with near complete email resolution and ongoing outreach. Concludes with a reminder of the final compliance date for belated/revised returns, Aadhaar PAN linking, and e proceedings.

Project monitoring mechanism enables issue resolution for large infrastructure and industrial projects through centralized review and digital coordination.
To minimize project delays the Government has institutionalized a monitoring mechanism, the Project Monitoring Group, for large infrastructure and industrial projects above a specified investment threshold; the PMG conducts centralized reviews, facilitates inter-ministerial and state-level issue resolution, and allows private companies to register implementation problems. Departmental oversight by the Department for Promotion of Industry and Internal Trade and the National Industrial Corridor Development Corporation supports regular monitoring of greenfield industrial nodes, while the digitally supported PM GatiShakti National Master Plan enables synchronized multimodal infrastructure planning for industrial zones and clusters.

Tax searches target real estate group over alleged evasion, authorities examining company records and financial transactions.
Income tax authorities conducted coordinated searches at multiple premises of a major real estate group across the national capital region and neighbouring states, seizing and reviewing company records, corporate documents, and financial transaction data to investigate allegations of tax evasion tied to the group's real estate business and to determine compliance across project and transactional streams.

Local body grant eligibility: transparency, uploaded accounts and action plans required before central funds are disbursed to rural governments.
The Department of Expenditure released a tranche of grant-in-aid to Rural Local Bodies as part of 2021-22 allocations, structured with 60 percent as tied grants for drinking water and sanitation and 40 percent as untied grants for local discretion. Eligibility requires publication of provisional and audited accounts by at least 25 percent of local bodies, upload to eGramSwaraj and Audit Online, and that recipients be duly elected; tied grants additionally require uploaded Annual Action Plans for sanitation and drinking water and reporting of fund utilization. States must transfer funds to local bodies within ten working days or pay interest on delayed transfers.

Consolidated social registry to expand cash transfers and digital social protection access for vulnerable groups in West Bengal.
A loan-supported project will strengthen West Bengal's capacity to expand coverage and access to targeted social assistance by establishing a consolidated social registry and digitizing the Jai Bangla unified delivery platform to improve cash transfer and social pension delivery to vulnerable groups, while introducing a tele-consultation network, case management workforce, and institutional coordination to address data fragmentation and improve program effectiveness.

Land monetization SPV to centralize and professionalize disposal and management of surplus public land assets.
NLMC, a government-owned Special Purpose Vehicle, will acquire, hold, manage and monetize surplus non-core land and building assets of CPSEs and act as agency for monetization on behalf of other government entities; it will be a lean company with a board of government and expert directors and hire private-sector specialists to maximize value realization and support closure and strategic disinvestment processes.

Financing for growth: budget measures to mobilise institutional, digital and sustainable finance for infrastructure and startups.
The document summarises post budget measures to mobilise finance for growth by attracting foreign capital, strengthening institutional financing (new DFIs, NIIF, GIFT IFSC), expanding credit to MSMEs, granting infrastructure status to affordable housing, and advancing digital finance (Digital Banking Units, digital payments, CBDC). It emphasises innovative and sustainable financing for Industry 4.0, startups and sunrise sectors, and the use of thematic/blended funds and climate finance instruments to channel investment into high employment and sustainable areas.

Financing for growth and aspirational economy webinar to accelerate implementation of Union Budget measures through multi stakeholder inputs.
The Ministry of Finance is convening a Post Budget Webinar titled 'Financing for growth and aspirational economy' to accelerate implementation of Union Budget 2022 announcements by obtaining stakeholder inputs and catalysing actionable plans. The webinar will include central ministries, NITI Aayog, Capacity Building Commission, state governments, financial regulators, industry associations and investor communities, and is organised into five thematic sessions on infrastructure finance, employment intensive sectors, infrastructure enablers, digital banking and finance, and climate, sustainable and sunrise sector finance to shape an implementation action plan.