e-Dispute Resolution Scheme enables taxpayers to seek modification of specified orders through regional Dispute Resolution Committees.
The e-Dispute Resolution Scheme enables eligible taxpayers to file Form 34BC electronically to seek resolution of a specified order before the designated Dispute Resolution Committee. Applications must be e-verified on the income tax portal and, where an appeal is pending, may be filed by the stipulated deadline. DRCs must decide within six months of admission and may modify variations and grant reduction or waiver of penalty and prosecution under the applicable rules.

Direct listing on IFSC exchanges permits Indian public companies to access global capital through reduced listing thresholds.
Amendments to the Securities Contracts Regulation Rules, 1956 reduce public offer and continuous listing thresholds to permit Indian public companies to directly list equity on permitted international exchanges within GIFT IFSC, operating together with the Direct Listing scheme under foreign exchange rules and the Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules to create an integrated regulatory pathway for access to global capital.

Financial inclusion expands formal banking access and direct benefit transfer channels for marginalized populations via no frills accounts.
Pradhan Mantri Jan Dhan Yojana establishes universal no-frills basic bank accounts with free RuPay debit cards, embedded accident insurance and an optional overdraft, removes fees and minimum-balance requirements, and links accounts with mobile and Aadhaar to create a consent-based pipeline for Direct Benefit Transfers and diversion-resistant subsidy delivery, while expanding digital transaction infrastructure and enabling savings-to-credit pathways for marginalized populations.

Tax Administration Modernization: digital, non intrusive processes aimed at simplifying compliance and widening the tax base.
The Department of Income Tax emphasises modernising tax administration via digital initiatives-faceless assessment, e verification, seamless e filing and system upgrades-to simplify compliance, improve taxpayer experience and promote voluntary compliance; it stresses judicious, non fearful enforcement, speedy refunds, clear communication, capacity building for global best practices, and a governance ethos of data driven decision making, enforcement with empathy, non intrusive administration, and technology led transparency to widen the tax base and enhance revenue mobilisation.

Tax clearance certificate requirement limited to specified cases; approval and reasoned recording required before issuance.
CBDT clarifies that an Income-tax clearance certificate is not required of all departing citizens; the amendment adding the Black Money Act aligns its liabilities with other direct tax laws but does not expand mandatory coverage. An ITCC may be imposed only in specific cases-notably where a resident is involved in serious financial irregularities or where unstayed direct tax arrears exceed the statutory threshold-and only after reasons are recorded and prior approval is obtained from the Principal Chief Commissioner or Chief Commissioner of Income-tax.

Cross-border share swaps permitted, allowing equity-for-equity exchanges and aligning OCI downstream investment treatment with NRI rules.
Amendments permit cross-border share swaps by allowing Indian company equity instruments to be issued or transferred in exchange for foreign company equity instruments, and align regulatory treatment of downstream investments by Overseas Citizen of India-owned entities on a non-repatriation basis with that of Non-Resident Indian-owned entities, reducing uncertainty for outbound transactions.

Cost audit expansion to subsidised entities promoted to strengthen oversight and reduce service delivery costs.
Emphasis on expanding Cost Audit to entities receiving government subsidies or grants, advocating broader oversight of cost accounting in subsidised recipients; paired with promotion of cost control and reduction techniques to improve efficiency in financial services, and initiatives for capacity building and professional development of cost accountants.

TDS/TCS relief where deductee/collectee died before PAN Aadhaar linkage, easing withholding for prior transactions entered before cutoff.
The Circular exempts the deductor/collector from the obligation to apply higher withholding/collection rates under the relevant non linkage provisions for transactions entered into up to 31.03.2024 where the deductee/collectee died on or before the extended PAN-Aadhaar linkage deadline and could not exercise the option to link PAN and Aadhaar.

Income-tax return filing surge shows majority opting new tax regime and increased e-verification enabling faster processing.
A record 7.28 crore ITRs were filed for AY 2024 25 by 31 July 2024, with approximately 72% under the New Tax Regime; filings peaked on the due date. The e filing portal deployed multiple ITR forms early, supported online and offline utilities, and facilitated high volumes of e verification-predominantly via Aadhaar based OTP-enabling processing of a substantial share of returns. Outreach and multilingual educational campaigns, combined with robust helpdesk support and payment challan activity, underpinned increased compliance and a rise in first time filers.

ESG compliance and capacity building: scholarship programme trains certified professionals and promotes mandatory reporting across sectors
The scholarship-based HP Future Impact Leader programme is a capacity-building initiative to develop certified ESG professionals, focusing on integrating ESG into corporate strategy, operational practices that yield cost and resource efficiencies, and preparation for mandatory ESG reporting. It frames ESG as a multi-dimensional governance and compliance agenda aligned with public policy priorities, and uses a public-private partnership approach to translate policy and technical guidance into organisational non-financial reporting and sustainable business practices.