Corrigendum to income-tax administrative order updates jurisdictional compliance dates and adds source references.
Corrigendum revises the table at paragraph 7 by replacing the rows for Singapore and Brazil with corrected entries identifying the tax year and a sequence of compliance dates, and inserts a footnote listing the online sources relied upon for those corrected entries.

Urban Local Bodies reform enables additional state borrowing permission upon completion of stipulated fiscal measures.
Manipur has completed the Urban Local Bodies reforms required by the Department of Expenditure and received permission to mobilise additional funds via Open Market Borrowings. The reforms mandate notification of floor rates for property tax and user charges for water, drainage and sewerage reflecting costs and inflation, and a system for periodic increases in those floor rates. Completion of these reforms qualifies the State for additional borrowing linked to the conditional enhancement announced in May 2020.

Due date extensions for income-tax returns and tax-audit filings are declined to protect filing discipline and revenue collection.
Order declining further extensions of statutory due dates for filing income-tax returns and tax audit reports, noting prior multiple extensions, statutory linkage of audit due dates to return due dates, comparative international practice, filing statistics demonstrating substantial compliance, the fiscal and administrative necessity of timely filings, and judicial principles of deference to executive fixation of cut-off dates; accordingly, representations for further extension are rejected.

Economic recovery guidance: emphasis on infrastructure-led investment and reforms to sustain post-pandemic growth trajectory now.
The meeting focused on sustaining post-pandemic recovery through infrastructure-led public investment, support for labour-intensive manufacturing and production linked incentives, mobilisation of household savings for long-term infrastructure financing, a prescribed path for fiscal consolidation accompanied by targeted fiscal measures, and financial sector reform. Participants also stressed investing in public health and education as drivers of future growth. The Prime Minister highlighted recent reform-based stimulus, digital connectivity and the National Infrastructure Pipeline as key elements of the Atmanirbhar Bharat vision.

Tax search uncovers shell-company schemes and undisclosed real estate income, triggering seizure and further investigations.
Searches of three Kolkata real estate and stock-broking groups uncovered use of paper/shell companies to raise bogus share capital and unsecured loans, out-of-books cash transactions, and significant unbooked revenue from flat sales. Enquiries indicate routing back of unaccounted group funds through shell entities. Investigations detected concealment of income amounting to Rs. 365 crore, with assessees admitting undisclosed income of Rs. 111 crore, and seizures of unaccounted cash and jewellery; further investigations continue.

Urban Local Bodies reforms enable additional state borrowing after implementing property tax and user-charge floor rates and indexation.
Completion of Urban Local Bodies reforms in Telangana makes the State eligible to mobilise additional borrowing under the enhanced fiscal dispensation. The reforms require notification of floor property tax rates aligned with circle rates, floor user charges for water, drainage and sewerage reflecting costs and inflation, and a system for periodic increases in those floor rates.

International development financing supports state road upgrades, increasing connectivity and mobility under long-term loans and rural access.
Two loan agreements fund widening and reconstruction of State and district roads and bridges-one project covering about 1,600 km of State Highways and the other about 1,400 km of district roads-implemented by the Roads and Buildings Department to enhance mobility, safety, riding quality and all-weather accessibility; loans reflect the bank's infrastructure development mandate and carry a 32-year tenor including a 5-year moratorium.

Reform linked capital assistance grants additional funding to states achieving three of four citizen centric reforms.
The Scheme of Special Assistance to States for Capital Expenditure includes a reform linked Part III that makes funds available only to States completing at least three of four specified citizen centric reforms; Madhya Pradesh and Andhra Pradesh met this condition and received additional allocations and initial instalments. The overall Scheme comprises Part I allocations for north eastern and hill States, Part II allocations among other States proportional to central tax shares, and approved capital projects across sectors such as health, water, irrigation, power, transport, education and urban development.

Inland water transport infrastructure: project upgrades waterways, improves urban mobility, and promotes climate resilient, inclusive ferry services.
A multi phase inland water transport project will rehabilitate jetties, procure improved ferries, install electronic gates, enhance vessel design, enable night navigation on key routes, and promote Ro Ro services while fostering private sector participation; it pairs spatial planning and urban accessibility measures to connect the hinterland with Kolkata Metropolitan Area markets and includes climate smart engineering, disability friendly amenities, and initiatives to improve women's safety and employment, funded by a long term development loan structure.

Innovative financing arrangement combining sovereign and non sovereign loans enables state utility to upgrade power distribution and access commercial finance.
ADB and the Government of India executed a financing package combining a sovereign loan to the state and a non sovereign loan to BESCOM to modernise Bengaluru's power distribution by moving overhead lines underground, installing fibre optic communications and smart distribution automation, and strengthening BESCOM's operational, safeguard and financial management capacity to enable market based capital access.

Project readiness financing advances horticulture expansion through irrigation, pilot production, and market capacity measures.
The Government of India and ADB executed a Project Readiness Financing to fund piloting, detailed design, and capacity building for an ensuing horticulture project in southern Himachal Pradesh. The PRF supports establishment or rehabilitation of irrigation schemes, development of ultra-high-density subtropical horticulture plots, fencing to prevent animal predation, formation and capacity development of community production and marketing associations, establishment of water user associations, and measures to enhance women's participation, with pilot activities to be scaled up under the ensuing project.

Development financing for hydroelectric expansion includes safeguards, capacity building, enterprise systems, and gender equity measures.
A development loan between the Asian Development Bank and the Government of India finances a run of the river hydroelectric plant in Assam, funding generation capacity, greenhouse gas reduction, enterprise resource planning for the state utility, safeguards compliance, and technical capacity building; an associated grant supports equipment, consulting, community resilience, and gender equity capacity building.

Search and seizure uncovers shell entities used to route unaccounted funds and detect substantial concealed income.
Search and seizure of two Kolkata-based groups uncovered use of shell entities to raise bogus share capital and unsecured loans, stock discrepancies and out-of-books cash transactions; the groups admitted routing unaccounted funds through paper companies and a total concealment of income was detected.