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    Taxpayers’ Lounge of Income Tax Department set up at IITF, 2021
    Health Sector Grant of ₹ 8,453.92 crore released to Local Bodies of 19 States
    7 States meet the target for capital expenditure upto Q-2 of 2021-22
    Income Tax Department conducts searches in Maharashtra
    Income Tax Department conducts searches in Rajasthan
    Income Tax Department conducts searches in Jammu & Kashmir and Punjab
    Income Tax Department conducts searches in Karnataka
    Income Tax Department conducts searches in Tamil Nadu
    Roll out of new Annual Information Statement (AIS)
    Income Tax Department conducts searches in Bihar and Jharkhand
    India and World Bank sign agreement to strengthen health systems in Meghalaya
    On the eve of the G 20 Summit, India's Leadership on global concerns and its views on a wide array of issues receive strong support - Shri Piyush Goya...
    IITF Trade Fair back again at Pragati Maidan from 14th Nov
    Finance Secretary Dr T.V. Somanathan releases guidelines for reforms in Public Procurement and Project Management
    Finance Secretary Dr T.V. Somanathan releases Model Tender Documents (MTDs) for Procurement of Goods and non-Consultancy Services
    India, ADB sign $251 million loan for integrated urban flood management in Chennai
    ADB, India sign $100 million loan for agribusiness development in Maharashtra
    India, ADB sign project readiness financing loan to support urban mobility in Mizoram
    Income Tax Department conducts searches in Punjab
    Income Tax Department conducts searches in Nashik
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November 15, 2021
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Tax compliance facilitation through an outreach lounge offering PAN, e filing and taxpayer services to improve voluntary compliance.
An outreach initiative establishes a Taxpayers' Lounge at a national trade fair to facilitate taxpayer compliance and publicise departmental services, offering in-person assistance with PAN/e PAN issuance and queries, Aadhaar-PAN linkage, e filing support including Form 26AS guidance, distribution of taxpayer information, engagement activities to promote voluntary compliance, and a feedback mechanism while observing public-health protocols.
November 13, 2021
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Health sector grants to local bodies strengthen primary health care and enable infrastructure upgrades and local oversight.
Central release of health sector grants totalling Rs. 8,453.92 crore has been made to rural and urban local bodies in 19 States pursuant to the Fifteenth Finance Commission's recommendations to address critical gaps in primary health care. The Commission earmarked Rs. 70,051 crore for health across rural and urban local bodies with specific interventions for diagnostic support, Health and Wellness Centres, construction of subcentres/PHCs/CHCs, and block-level public health units; remaining releases to nine States await proposals through the Ministry of Health and Family Welfare.
November 12, 2021
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Capital expenditure linked borrowing allowed upon meeting phased expenditure targets, enabling additional borrowing within GSDP ceilings.
Seven States met the incremental capital expenditure target for Q2 2021-22 and were allowed additional open market borrowing equivalent to 0.5% of GSDP drawn from the 4% GSDP net borrowing ceiling. Access to this capital expenditure linked borrowing requires meeting staged targets (15% by Q1, 45% by Q2, 70% by Q3, 100% by year end). Two review rounds assessed expenditure to 30 September 2021 for 22 States, with further reviews planned in March and June 2022 to permit ceilings and adjust any shortfalls against 2022-23 borrowing.
November 7, 2021
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Deposit structuring to evade PAN reporting prompts search, account restraints and investigation into bank KYC failures.
Investigations found systematic KYC non-compliance at a branch where over twelve hundred accounts were opened without PAN, with account forms completed by staff and many accountholders later denying knowledge. Transactional patterns reveal deliberate deposit structuring-identical cash deposits made shortly after account opening and converted into fixed deposits-to evade PAN reporting. Bank officials implicated a director in directing the transactions; collected evidence led to the restraint of the identified deposits and further investigations are in progress.
November 5, 2021
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Search and seizure operations uncover unaccounted income and related evidence, with some assessees admitting income and offering tax payment.
Search and seizure operations in Rajasthan targeting real estate, sand mining and liquor businesses produced documentary evidence of unaccounted cash receipts and cash sales not recorded in books; seizures included unaccounted cash and jewellery, detection of substantial unaccounted income, admissions by some assessees with offers to pay due taxes, and ongoing further investigation.
November 5, 2021
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Unaccounted income detection leads to seizure and restraint after searches uncover inflated purchases and false tax deductions.
Searches of dry-fruits businesses revealed artificially inflated purchases, unaccounted cash returned to directors, parallel books with divergent entries, unaccounted purchases and sales, excess stock, and indications of a benami proprietary concern; claimed deduction under Section 80IB was found non-genuine. Seizures included cash and jewellery, multiple bank lockers were restrained, and substantial unaccounted income was detected, with further analysis and investigations ongoing.
November 3, 2021
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Search and seizure expose bogus expense schemes and conduit subcontractors, prompting admission of undisclosed income and ongoing investigation.
A search and seizure operation on a construction group uncovered a deliberate scheme of recording bogus expenses-including fake purchases, labour and subcontractor payments-supported by seized documents and digital evidence; related persons and employees operated as conduits, leading to generation of unaccounted cash and admission by the assessee of substantial undisclosed income, with further investigations ongoing.
November 2, 2021
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Search and seizure uncovers systematic income suppression, with seized electronic evidence and ongoing investigations.
A targeted search and seizure operation against a business group in Tamil Nadu uncovered electronic evidence showing systematic income suppression through inflated expenses, alleged bogus purchases, under invoicing of sales and omission of scrap/by product sales. Analysis indicates unaccounted income was invested in immovable properties and used for unrecorded expenditures; substantial unaccounted cash was seized and significant unreported income was detected. Investigations are ongoing to verify and quantify the tax and regulatory implications.
November 1, 2021
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Annual Information Statement provides comprehensive taxpayer data with online feedback and TIS-driven pre-filling for returns.
Rollout of the AIS provides processed and downloadable taxpayer transaction data with online and offline feedback mechanisms; de duplicated reported information and a parallel display of Form 26AS on TRACES will continue until validation. The TIS aggregates processed and derived values, updates derived figures in real time after feedback, and will be used for phased pre filling of returns. Taxpayers should verify AIS/TIS entries and may rely on TRACES where there is a discrepancy between TRACES Form 26AS and AIS for filing and compliance.
November 1, 2021
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Search and seizure uncover tax evasion through inflated expenses and accommodation entries, prompting seizure and ongoing verification.
A coordinated search and seizure operation uncovered systematic suppression of taxable receipts by a road construction group through inflated material purchases, sale of excess material for unaccounted cash, and use of accommodation entries to inflate expenses. Seized records traced unaccounted cash generation and movement, understatement of contractual and service income, and deficient books and vouchers. Operational measures included seizure of unaccounted cash, restraint on bank lockers, verification of investments, detection of substantial unaccounted income, and ongoing investigations.
November 1, 2021
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Health system strengthening boosts governance, expands insurance coverage and adds performance-based financing to improve access and preparedness.
The agreement establishes a project to enhance governance, management and quality of health services in Meghalaya through capacity building, facility certification and expanded insurance coverage. It integrates the state insurance scheme into the national programme to pursue universal household coverage, introduces performance-based financing via Internal Performance Agreements to improve accountability, invests in infection prevention and control for emergency preparedness, and funds comprehensive biomedical waste management including segregation, disinfection and collection to mitigate environmental risks.
October 30, 2021
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Mutual recognition of travel documents advanced to enable cross-border acceptance of testing and vaccine certificates for safer travel.
India's Sherpa engagement secured support for mutual recognition of travel documents including testing and vaccine certificates and endorsed extensive COVID-19 immunization as a global public good. India pressed for protection of small and marginal farmers and conservation of local food cultures for food security; urged long-term concessional climate finance and access to sustainable technology; backed extension of the Debt Service Suspension Initiative and warned against premature withdrawal of recovery support. It also pushed international tax alignment for multinational profits, advanced anti corruption cooperation, and promoted gender-responsive and data governance measures.
October 29, 2021
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Trade fair reopening at Pragati Maidan expands venue and reserves initial days for business with COVID protocols.
India International Trade Fair will be held at Pragati Maidan from November 14 to 27, 2021, with the initial days reserved for business visitors and later days open to the public. The organisers expanded the exhibition area following the new Convention Centre, allocated multiple halls, and established a help desk for booking assistance. Participation includes over 2,000 domestic and international exhibitors, numerous States, central ministries, commodity boards, PSUs and private companies. The event will observe COVID 19 safety protocols and operate daily during stated visiting hours.
October 29, 2021
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Public procurement reform enables faster project execution via strict payment timelines, electronic measurement books and QCBS selection.
The Department of Expenditure guidelines reform public procurement and project management by prescribing strict timelines for payments, timely ad hoc releases to improve contractor liquidity (especially for MSMEs), mandating Electronic Measurement Books for progress recording, permitting alternative contractor selection methods, and allowing Quality cum Cost Based Selection (QCBS) as a transparent alternative to the traditional L1 evaluation, following consultations led by the CVC and monitored as a specified campaign.
October 29, 2021
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Model Tender Documents for public procurement enable standardized, customizable e procurement templates aligned with procurement policy.
Model Tender Documents (MTDs) have been released as soft, customizable guiding templates for procurement of goods and non consultancy services to standardize tender documentation, facilitate e procurement adoption, align with policies like Micro and Small Enterprise support, Make in India and start up benefits, incorporate best practices developed after two stage consultation, and are accompanied by a Guidance Note to assist procuring officials.
October 28, 2021
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Integrated urban flood management funded by international loan to build resilient infrastructure and strengthen municipal preparedness.
A loan agreement finances an integrated urban flood management project in the Chennai Kosasthalaiyar basin to establish climate resilient flood protection infrastructure-including construction and rehabilitation of stormwater drains, channel improvements, pumping station upgrades, catchpits for groundwater recharge, and disaster relief camp rehabilitation-alongside measures for sustainable operation and maintenance of drainage systems.
October 28, 2021
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Agribusiness loan expands financing and infrastructure for farmer organizations, enhancing post harvest capacity and market access.
A multilateral loan finances the Maharashtra Agribusiness Network (MAGNET) Project to expand access to finance for Farmer Producer Organizations and Value Chain Operators through matching grants and financial intermediation, upgrade and construct post harvest storage and processing facilities, and provide technical assistance for market linkages, crop based centres of excellence, and capacity building to reduce food losses and increase incomes for small and marginal horticulture producers.
October 26, 2021
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Project readiness financing advances urban mobility project preparation and climate resilient planning for Aizawl, enabling prioritized transport investments.
The Government of India and the Asian Development Bank provided a Project Readiness Financing loan to prepare the Aizawl Sustainable Urban Transport Project by developing a Comprehensive Mobility Plan, conducting due diligence and feasibility studies, preparing detailed project reports and designs, integrating climate resilience and gender inclusiveness, and strengthening the state's Urban Development and Poverty Alleviation Department capacity for pre implementation and project preparation.
October 26, 2021
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Search and seizure expose suppression of income and undisclosed cash and assets in regional business groups.
Search and seizure operations in two business groups revealed suppression of income via bogus intra group transactions, extensive cash sales and undeclared scrap and property investments in a manufacturing group, and in an education/immigration services group receipt of high value package payments largely in cash, use of employee bank accounts to receive and withdraw funds, and declaration only of commission income. Searches detected substantial unaccounted income and resulted in seizure of cash, gold and jewellery; investigations continue.
October 25, 2021
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Search and seizure uncover extensive unaccounted income and property-linked cash transactions, prompting ongoing tax investigations.
Search and seizure operations at a Nashik land-aggregation business recovered notarized land agreements, documents and digital evidence of large cash-based property acquisitions; substantial unaccounted cash was seized from private vaults and several bank lockers were placed under prohibitory orders. Parallel searches of investors, mainly wholesale agricultural traders, produced records of large cash investments in land, and aggregate unaccounted income exceeding reported thresholds has been detected, with evidentiary material under further examination in ongoing tax investigations.

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