Authorised Economic Operator expansion promotes mutual recognition and trust based trade facilitation across international supply chains.
The CBIC convened a global programme to advance the Authorised Economic Operator (AEO) voluntary compliance framework and expand reciprocal recognition through Mutual Recognition Agreements (MRAs). The event emphasised AEO's role in cargo security and trade facilitation via cooperation among importers, exporters, logistics providers and customs stakeholders, the need for capacity building for partners with limited capability, and operational measures-risk management, MSME engagement and technology-to strengthen supply chain resilience under the WCO SAFE Framework.

Investor State Dispute Settlement reform: training stresses aligning state obligations and investor protections and dispute prevention.
The training focused on Bilateral Investment Treaty standards-National Treatment, Most Favoured Nation, Fair and Equitable Treatment, and Full Protection and Security-and on aligning state obligations with investor protections to prevent and manage investor-state disputes, while addressing procedural features and legitimacy concerns of Investor State Dispute Settlement and practical dispute prevention and case management approaches.

PAN modernisation centralises PAN/TAN services into a secure unified portal, enabling free e PAN issuance and live QR validation.
PAN 2.0 consolidates PAN and TAN services onto a single Income Tax Department portal, enabling paperless allotment, updation, correction, OPV, Aadhaar PAN linking, e PAN issuance free of cost, and QR code validation linked to live PAN data; it adds a PAN Data Vault and ISO aligned security, a helpdesk, and duplicate PAN detection, while preserving existing PAN validity and maintaining TAN as a distinct compliance mechanism.

PAN as common business identifier consolidates PAN/TAN services into a unified digital portal, enabling paperless verification.
The PAN 2.0 Project creates a single unified portal consolidating all PAN/TAN services-allotment, updation, correction, Aadhaar PAN linking, online PAN validation, e PAN issuance and re print requests-while retaining existing PAN numbers unless a holder requests changes. It mandates paperless processes, provides specified updates free of charge, enhances data protection via a PAN Data Vault, offers helpdesk support and QR code validation, and deploys centralised duplicate detection mechanisms to enforce the rule against multiple PAN holdings.

PAN 2.0 Project modernizes taxpayer registration by making PAN a common identifier for streamlined digital services.
The PAN 2.0 Project is an e governance initiative to reengineer taxpayer registration by upgrading and consolidating the PAN/TAN ecosystem, integrating PAN validation, and establishing PAN as a Common Identifier to achieve data consistency, improved service delivery, eco friendly processes, cost optimization, and enhanced infrastructure security.

Repayment of government bonds repayable at par; holders must provide bank details or tender securities in advance.
Maturity proceeds for the bonds are payable at par on the stated maturity date with no further interest; payment will be adjusted to the previous working day if the date is a non working day or a State declared holiday. Payments to registered holders in SGL/CSGL or by stock certificate will be made by pay order with bank account particulars or by electronic credit, per Government Securities Regulations. Holders must submit bank account particulars in advance, or, absent those particulars, tender duly discharged securities at designated paying offices at least twenty days before maturity to obtain repayment.

Taxpayer services expanded through Taxpayers' Lounge offering PAN assistance, e-filing help, grievance redressal and outreach events
CBDT dedicated the Taxpayers' Lounge at the India International Trade Fair to deliver taxpayer services including PAN/e-PAN assistance, Aadhaar-PAN linking, e-filing and Form 26AS support, TDS queries, international taxation enquiries, Faceless Assessment and Appeal guidance, and e-Nivaran grievance facilitation, while also releasing five brochures and providing a Children's Corner and public events to promote tax awareness and e-governance.

Disclosure of foreign assets and income: campaign urges accurate Schedule FA/FSI reporting and use of revised returns.
CBDT has launched a Compliance Cum Awareness Campaign urging resident taxpayers to accurately disclose foreign assets and foreign source income by completing Schedule FA and Schedule FSI. The campaign leverages information from CRS and FATCA to identify potential non disclosures and will send targeted SMS/email reminders to filers. The guidance summarises required fields, asset categories, currency conversion rules, beneficial owner definitions, cross referencing to ITR heads and Form 67, and the opportunity to file a revised return to correct omissions and claim foreign tax relief.

MSME credit expansion urged: banks and NBFCs directed to boost lending and enhance rural outreach for enterprise growth.
The programme aims to improve MSME access to financial services by connecting clusters with banks, expanding SIDBI branches and Nari Shakti outlets, and advancing capacity building through an MoU with the Peenya Industries Association. It sets explicit MSME credit targets for banks and NBFCs, distributes sanction letters to MSME borrowers across sectors, and implements an increased PMMY Tarun Plus loan limit to accelerate lending and rural outreach.

Multilateral loan for climate resilient urban infrastructure supports upgraded water, sanitation, mobility, and institutional capacity.
A multilateral loan finances climate resilient upgrades to Uttarakhand urban infrastructure-water supply, sanitation, urban mobility, drainage, flood management, and public services-through construction of resilient pipelines, treatment and storage facilities, drains, roads, traffic systems, low emission buses, smart water meters, and early warning systems, while supporting institutional capacity building, revenue measures, gender mainstreaming, and women's livelihood and skills initiatives; the project is cofinanced on a parallel basis.

Destruction of contraband under SpecialCampaign4.0: customs removed seized illegal cigarettes, narcotics and tobacco products lawfully.
Under SpecialCampaign4.0, Delhi Customs conducted a safe, non hazardous destruction on 25 October 2024 at a waste management facility of seized foreign cigarettes, narcotic drugs (heroin, cocaine, ganja, charas) and banned tobacco preparations including gutkha, pan masala and e cigarettes. The goods had been seized for violations of customs, narcotics and tobacco laws, and senior customs commissioners attended the disposal as part of anti smuggling enforcement.

Compounding of tax offences simplified: revised guidelines streamline procedures and lower compounding charges, including companies and HUFs.
The CBDT issued revised guidelines for compounding of offences under the Income tax Act, which supersede earlier guidelines and apply to pending and new applications. Key changes eliminate offence categorisation, remove limits on application frequency, permit fresh applications after curing defects, extend compounding to additional penal offences, and remove the prior time limit for filing. For companies and HUFs the main accused need not file; compounding may be effected by payment from main or any co accused. Compounding charges are rationalised by abolishing interest on delayed payment, consolidating multiple rates into a single monthly rate for certain defaults, simplifying the calculation for non filing, and removing separate fees for co accused.

TCS/TDS credit for salaried employees enabled via employer reporting; TCS credit transferable where minor's income is clubbed with parent.
Amendments require employees to furnish particulars in Form No. 12BAA to their employers so employers can adjust TDS on salary after accounting for tax deducted or collected at source; additionally, rules permit credit of tax collected at source to a person other than the collectee when the collectee's income is assessable in that other person's hands, enabling parents to claim TCS credit of minors whose income is clubbed with theirs.

Direct Tax Vivad Se Vishwas scheme clarifies taxpayer eligibility and procedural settlement mechanics under the new framework.
The Central Board of Direct Taxes issued a Guidance Note of Frequently Asked Questions to explain operative features and implementation mechanics of the Direct Tax Vivad Se Vishwas Scheme, clarifying taxpayer eligibility, procedural steps for settlement, prescribed Forms, and administrative procedures as set out in the Scheme's statutory framework and accompanying Rules.

Multilateral finance engagement: Minister to lead participation at IMF-World Bank and G20 finance forums, promoting investment ties.
The Union Finance Minister will visit Mexico and the United States to advance multilateral and bilateral economic engagement: in Mexico to chair a technology leaders roundtable, meet Mexican counterparts and parliamentarians, deliver a keynote at an India-Mexico trade and investment summit and engage the diaspora; in the United States to participate in IMF-World Bank annual meetings, G20 Finance Ministers and Central Bank Governors meetings, pension fund and sovereign debt roundtables, meet multilateral development bank leaders and financial CEOs, and promote India's investment agenda.

Tax audit filing compliance strengthened as increased TAR submissions were supported by outreach and helpdesk assistance.
More than 34.84 lakh audit reports, including about 34.09 lakh Tax Audit Reports, were filed on the e-filing portal by the due date for AY 2024-25, with TAR filings up year-on-year. The Department ran outreach campaigns and guidance materials for filing audit forms (Forms 10B, 10BB, 3CA-3CD, 3CB-3CD, 29B, 29C, 10CCB), while an e-filing Helpdesk handled around 1.23 lakh queries via calls, live chat, WebEx, co-browsing and online social media response to assist taxpayers and professionals.

Economic reform and investment promotion drive policy priorities, paired with green transition and AI governance focus for future growth.
The conclave emphasized economic reform and investment promotion-noting structural reforms in banking, taxation, infrastructure, and industrial policy-to strengthen the investment climate and fiscal management as mechanisms toward a developed-economy objective. It foregrounded the green transition through initiatives like green hydrogen and international solar cooperation and called for reforms of international financial architecture and policy responses to geo-economic fragmentation. Technological governance, especially the impact of artificial intelligence on productivity and employment, was identified as a key policy concern requiring anticipatory measures.

Income-tax Act review invites public suggestions to simplify language, reduce litigation and compliance burdens through e-filing portal
An internal committee of the Central Board of Direct Taxes will comprehensively review the Income-tax Act, 1961 to simplify language, reduce litigation and compliance burdens, and identify redundant or obsolete provisions. The committee invites stakeholders and the public to submit proposals via a dedicated Income-tax e-filing portal page, requiring specification of the precise Act or Rules provision and categorisation under the four review themes, with access subject to basic identification and OTP validation.

Investor protection under India UAE BIT secures arbitration for disputes after mandatory local remedies and preserves states' regulatory space.
The India-UAE BIT, effective 31 August 2024, provides continuity of investment protection with a closed asset based definition of Investment, guarantees minimum treatment standards (no denial of justice, no targeted discrimination, no manifestly abusive or arbitrary treatment), protection from expropriation, transparency, transfers and compensation, and offers ISDS by arbitration subject to mandatory exhaustion of local remedies; it preserves state regulatory space through carve outs and exceptions and bars claims where investments involve corruption or fraud.

Central sector financing reclassification shifts primary funding responsibility to the Centre, altering loan routing and repayment obligations.
Reclassification as a Central sector project shifts primary funding and loan liabilities to the Central Government, which will treat existing multilateral and bilateral loans as loans to the Centre, reroute disbursements through the Central Government budget to the implementing company as pass-through assistance, and designate the Ministry acting through the implementing company as project executing agency; the implementing company remains responsible for loan repayment, with the State obliged to provide support if the company cannot repay.