Startup recognition enabling expedited IP, procurement relaxations and targeted financial and regulatory support for scale and market access.
DPIIT recognition as a 'startup' under the prescribed notification confers access to benefits including expedited IP processing with filing rebates, limited-period self certification under certain labour and environmental laws, exemption from a specified Income Tax Act provision, eligibility for income tax exemption upon Inter Ministerial Board certification, relaxed procurement conditions, and access to credit guarantees under a dedicated scheme; these measures operate alongside funding instruments, seed funds, regulatory reforms, and institutional platforms to promote capital access, market linkages and capacity building.

Sikkimese definition limited to income tax law, clarified that it does not apply beyond the Income-tax Act.
The amendment clarifies that the term "Sikkimese" as defined for clause (26AAA) by the Finance Act, 2023 is confined exclusively to the purposes of the Income-tax Act, 1961 and is not to be applied for any other purpose.

Direct tax collections exceed budget and revised estimates, driven by corporate and personal income tax growth affecting net revenue.
Provisional direct tax receipts for FY 2022-23 exceeded the Union Budget Estimates and Revised Estimates, with net and gross collections both recording year on year growth. Corporate tax and personal income tax were the main drivers of gross collection growth, while increased refunds materially affected net realizations, yielding an operational revenue profile comparing gross receipts, refunds and net collections against prior year and budget projections.

Public debt management: issuance, maturity profile and market trading shaped debt and liquidity dynamics in Q3 fiscal review.
Quarterly review of Public Debt Management for October-December (Q3 FY23) reports that the Central Government issued dated securities above the borrowing calendar, repaid scheduled redemptions, experienced a rise in weighted average yield and elongation of weighted average maturity of new issuances, saw no cash management bills or Reserve Bank open market operations, and recorded liquidity absorption under central bank facilities; it also summarises secondary market concentration in the 7-10 year bucket, investor trading patterns, and the maturity and ownership profile of outstanding government securities.

Startup ecosystem support: funding, regulatory ease and IP facilitation to accelerate emerging-technology startups into market access.
The Government's Startup India initiative establishes funding and credit support mechanisms, regulatory simplifications, procurement and IP facilitation, and institutional platforms to nurture startups, with targeted schemes for seed funding, incubators, Centres of Excellence, and sectoral accelerators to promote emerging technologies such as IoT, AI and blockchain.

Industrial development enabling measures expand startup funding and incentives for Andaman and Nicobar Islands businesses.
Central initiatives support industrial development in the Andaman and Nicobar Islands through DPIIT startup funding schemes, ODOP product promotion, BRAP-driven ease-of-doing-business reforms and online single-window systems, PM Gati Shakti-facilitated connectivity and integration of industrial parks onto the India Industrial Land Bank. LANDIS 2018 provides a suite of incentives for the Islands though no unit has yet registered; PMEGP and PMFME deliver targeted subsidies and technical support for micro and small enterprises, with recorded disbursement and employment statistics for recent years.

Official Development Assistance extends concessional loans for metro, forest conservation, and water-sector livelihood projects to support sustainable development.
Japan provides Official Development Assistance (ODA) to India through concessional loans for three projects: Patna Metro Rail Construction to build two metro corridors for traffic management and climate mitigation; a West Bengal forest and biodiversity conservation project focused on ecosystem-based climate measures, biodiversity restoration, livelihood improvement and institutional strengthening; and Rajasthan Water Sector Livelihood Improvement Project (tranche II) to upgrade irrigation, improve water-use efficiency, boost agricultural productivity and promote gender-inclusive livelihoods.

Official Development Assistance expands infrastructure, climate resilience and livelihood financing in India through targeted loan-funded projects.
Official Development Assistance from Japan funds three projects in India: the Patna Metro Rail Project to build two metro corridors for urban traffic mitigation and climate benefits; a West Bengal project financing ecosystem-based climate-change measures, biodiversity conservation, livelihood activities and institutional strengthening; and a tranche-II Rajasthan water-sector project to improve water-use efficiency, rehabilitate irrigation infrastructure, deliver agricultural support services and promote gender-inclusive farmer participation to enhance productivity and livelihoods.

Tax Deduction at Source on Virtual Digital Assets confirms withholding collections and applies alongside anti money laundering and income tax rules.
Direct tax collection by way of Tax Deduction at Source on transfers of Virtual Digital Assets aggregated to the reported sum for the fiscal year to the stated date, applying a withholding mechanism on payments from VDA transfers. Crypto assets remain broadly unregulated as a sector, but transactions are subject to the Income Tax Act and the Prevention of Money Laundering Act; international commentary describes crypto markets as largely speculative with limited connections to the real economy.

PAN Aadhaar linking: extension granted; failure to link makes PAN inoperative with higher TDS/TCS and withheld refunds.
Extension granted for mandatory PAN-Aadhaar linking, allowing eligible PAN holders additional time to intimate Aadhaar to the prescribed authority without repercussions. Failure to do so by the extended deadline will render the PAN inoperative, with consequences including no refunds against such PANs, no interest on refunds for the inoperative period, and TDS/TCS at higher rates. Reinstatement is possible by intimating Aadhaar to the prescribed authority and paying a prescribed fee within the cure period. Specified exemption categories are not liable to these consequences.

Data analytics in tax administration enhances risk identification and AI-driven targeting to improve compliance and detect evasion.
The central fiscal authorities employ data analytics, big data and AI/ML in tax administration to identify fiscal risks and enhance compliance. For indirect taxes, Project ADVAIT provides reports, interactive dashboards and analytical models-using data matching, network analysis, pattern recognition, predictive analytics, text mining and forecasting-to detect evasion and support policy. For direct taxes, analytics and AI/ML identify high-risk cases, prompt taxpayers on return mismatches, send advance-tax reminders, enable large-scale information storage and search, visualise taxpayer networks, and segment taxpayers for targeted anti-evasion efforts.

Affordable housing funding enables last mile completion of stalled mid income projects under eligibility and security conditions.
SWAMIH Fund finances stressed or stalled mid income and affordable housing projects that meet specified eligibility: at least 90% of available FSI/FAR developed as affordable or mid income units, net worth positive, RERA registration with minimum project cost expenditure, and last mile funding need; Fund capital is secured by a senior charge over the funded portion (except where a regulatory authority holds first charge); affordable/mid income units are limited to 200 sqm RERA carpet area and regionally prescribed maximum prices.

AIS for Taxpayer App enables taxpayers to view AIS/TIS records after PAN and OTP authentication, and provide feedback.
The Income Tax Department launched the AIS for Taxpayer mobile app to give taxpayers consolidated access to AIS/TIS data-covering TDS/TCS, interest, dividends, share transactions, tax payments, refunds and other reported information-and a feedback facility. Registration requires PAN and authentication via OTPs sent to the mobile number and e mail registered on the e filing portal, after which the taxpayer sets a personal access PIN. The app is available free on major app stores to improve taxpayer services and ease of compliance.

Withdrawal of legal tender status spurred detection of undisclosed income and strengthened tax compliance and filings.
Withdrawal of legal tender status of specified bank notes prompted detection of undisclosed income and cash seizures and was associated with increased direct tax mobilization and a widened tax base, reflected in higher net direct tax collections, rises in personal income-tax payments, and substantial growth in income-tax returns filed including new filers and corporate returns.

ITR processing speed improved; substantial returns processed rapidly and portal upgrades plus CTR proposed to simplify filing.
Income tax administration recorded high e filing volumes with peak daily filings on the statutory due date and a substantial share of returns processed rapidly after furnishing. The government has advanced digital measures-deployment of TIN 2.0 with multiple banks, new payment modes, educational resources, co browsing support and portal enhancements-to speed crediting and ease compliance. A proposed Common Income Tax Return (CTR) aims to reduce filing complexity via selective schedules and increased pre fill, while grievance redressal is supported by e Nivaran, High Pitched Assessment committees, Tax Payer Charter Cells and CPGRAM.

Tribunal constitution and reform: CESTAT marks anniversary and highlights Tribunal Reforms Act and operational modernisation.
The notice announces the Tribunal's fortieth anniversary commemoration with senior judicial and revenue dignitaries, two working sessions on technology for speedy justice and tribunal experiments, and a souvenir release. It reiterates the Tribunal's statutory foundation and recent amendment by the Tribunal Reforms Act and related service rules, outlines the Principal Bench and regional bench composition, and records operational improvements: virtual hearings during the pandemic, online publication of orders, and courtroom dynamic displays to enhance transparency and scheduling.

E Verification Scheme: electronic process prompting voluntary correction and Update of return under section 139(8A).
The e Verification Scheme, 2021 creates a fully electronic process to share and verify financial transaction information via the Annual Information Statement, enabling taxpayers to object to Source misreporting, supply evidence, and submit Updated ITRs to promote voluntary compliance; a pilot covering FY 2019 20 transactions processed about 68,000 cases with e Verification completed in roughly 35,000 cases.

Direct tax collections show sustained year-on-year growth while refunds rise significantly, affecting net revenue recovery.
Direct tax collections up to 10 March 2023 show gross receipts of Rs. 16.68 lakh crore (22.58% higher Y-o-Y) and net receipts of Rs. 13.73 lakh crore (16.78% higher Y-o-Y), equal to 96.67% of the Budget Estimate and 83.19% of the Revised Estimate; refunds of Rs. 2.95 lakh crore were issued (59.44% higher Y-o-Y). Corporate Income Tax gross growth was 18.08% (net 13.62%), while Personal Income Tax growth was 27.57% gross and about 20.06%-20.73% net after refunds.

Controller General of Accounts: appointment underscores responsibility for management accounting, exchequer control and internal audit oversight.
Shri S.S. Dubey, a 1989-batch ICAS officer and former Additional CGA (PFMS), has been appointed Controller General of Accounts effective 6 March 2023. The CGA is the Principal Advisor on accounting matters to the Union Government, responsible for establishing and managing a technically sound Management Accounting System, preparing and submitting the Union Government's accounts, exercising exchequer control, and conducting internal audits for the Central Government.

Priority debt financing enables completion of stressed affordable housing projects, unlocking liquidity and accelerating project delivery.
The SWAMIH Investment Fund I provides priority debt financing for completion of stressed, brownfield and RERA registered affordable and mid income residential projects, acting as a lender of last resort for developers with stalled, litigated or NPA affected projects. Its mandate relies on robust supervision and expenditure control to accelerate construction, restore collections and unlock market liquidity, having completed over twenty thousand homes and catalysed further project and sector activity.