E-filing requirement limits paper returns; special facilitation counters enable salaried and pensioners to file paper returns.
Special return counters will permit paper filing by salaried taxpayers and pensioners whose salary/pension income falls at or below the prescribed threshold or whose returns contain no refund claim; taxpayers above the income threshold or claiming refunds must e file. Taxpayers over eighty years of age deriving salary/pension income are exempted from the e filing restriction and may submit paper returns. The counters include special facilitation for senior citizens and differently abled persons with onsite assistance and ancillary services.

Exchange of tax information enables confidential cross border sharing to assist administration and enforcement of domestic tax laws.
The approved agreement enables Competent Authorities of India and Seychelles to exchange information foreseeably relevant to administering and enforcing domestic tax laws, subject to confidentiality restrictions permitting disclosure only to persons or authorities concerned with tax assessment, collection, enforcement, prosecution or appeals, and requiring prior written consent of the sender for other disclosures. It establishes a Mutual Agreement Procedure for resolving differences, enters into force after each country completes domestic procedures, and contemplates that extraordinary costs may be borne by India under the agreement's cost provision.

Student Loan Single-Window Portal enables unified loan applications, integrated bank status updates, and scholarship linkage for applicants.
A centralized web portal provides a single window for students to access information and apply for educational loans and government scholarships, using a common application form; banks can register loan schemes, download applications, upload loan processing status, integrate systems for status updates, and the portal links to the national scholarship platform while offering student dashboards and a grievance facility.

Tax incentives for notified backward areas extend enhanced depreciation and investment allowance for new manufacturing projects.
Amendments to the Income tax Act grant manufacturing undertakings established in 21 notified backward districts eligibility for 15% additional depreciation and 15% investment allowance on plant and machinery acquired and installed during the specified period; these incentives are in addition to other tax benefits, increase the effective additional depreciation available, and an enhanced investment allowance rate applies to companies investing above a prescribed threshold during an earlier sub period.

Government securities auction: re-issue conducted via price-based multiple-price method with non-competitive allotment and E-Kuber bidding.
Re-issue of four Central Government stocks will be sold via price-based multiple-price auctions on the notified auction date, conducted through the electronic bidding platform. Up to 5% of each notified amount is reserved for eligible individuals and institutions under the non-competitive bidding facility. Competitive and non-competitive bids must be submitted within specified time windows on the auction day; auction results and the payment date for successful bidders are scheduled. The stocks are eligible for when-issued trading under the applicable when-issued transaction guidelines.

Budget formulation exercise advanced to enable wider stakeholder consultations and extend planning time under a budget circular.
Advance of the budget formulation exercise by over two months initiates earlier departmental preparations, extends planners' timelines, and mandates wider stakeholder consultations through a budget circular issued by the Budget Division to set the revised timetable and consultation expectations.

Tariff value revision for imported commodities notified; updated rates apply to oils, metals, seeds and scrap.
Amendment substitutes new tariff value tables replacing prior TABLE-1, TABLE-2 and TABLE-3 with revised tariff values in US dollars for specified commodities including crude and refined palm oils, palmolein variants, crude soybean oil, brass scrap, poppy seeds, areca nuts, and unit valuations for gold and silver where notification benefits are availed, thereby updating import valuation benchmarks for application by importers and customs authorities.

Public sector bank revamp: governance reforms, capital support and KPI accountability framework to strengthen banks.
Public sector bank revamp implements leadership separation with MD & CEO and non executive Chairs, creates the Bank Board Bureau for appointments and strategic oversight, commits tiered government capital allocation supplemented by market raising, and imposes an accountability regime linking executive incentives to a quantified KPI framework covering capital efficiency, business diversification, NPA management and financial inclusion, alongside measures to de stress projects, strengthen risk controls and improve recovery and disclosure mechanisms.

Advance income tax payment urged via authorised banks or online channels to avoid end period payment congestion.
The Reserve Bank of India advises income-tax assessees to make advance tax payments through authorised channels, including online facilities offered by banks, to reduce end of period congestion. Twenty-nine agency banks are authorised to accept income-tax payments at select branches, providing an alternative to in-person payment at Reserve Bank counters and mitigating receipt-issuance delays.

Zero balance account reduction under PMJDY driven by monitoring, incentives and outreach; Rupay coverage expanded and deposits mobilised.
Decline in zero balance accounts under PMJDY is linked to supervisory and operational measures: weekly multi stakeholder monitoring, branch level follow up for high zero balance branches, targeted outreach with financial literacy, transaction based incentives for Bank Mitras, launch of auto debit Jansuraksha insurance schemes, promotion of regular savings for overdraft eligibility, and issuance of Rupay cards with personal accidental insurance, which together have supported deposit mobilisation in PMJDY accounts.

Appeal from tribunal requires inter-commissioner referral and prescribed timelines for filing and implementing rulings.
Senior tax commissioners are empowered to appeal tribunal orders to the higher court, but where multiple senior commissioners serve a station the jurisdictional commissioner must refer proposed appeals to another commissioner for independent review; this inter-commissioner referral is intended to ensure appeals are based on merits. The central board has issued a Standard Operating Procedure prescribing filing timelines consistent with statute and timelines for giving effect to tribunal rulings to govern appeal institution and implementation of tribunal outcomes.

Tax refund mechanisms ensure timely export incentives and duty relief under drawback, rebate and duty exemption schemes.
Key mechanisms to expedite refunds and incentives for exporters include Duty Drawback to neutralise taxes on inputs; rebate of Central Excise with bond clearance; and CENVAT credit refund for manufacturers and service providers exporting without payment of duty under bond or undertaking. Sectoral supports include Duty Free Entitlement for garment and leather exporters, duty exemption schemes such as Advance Authorisation and EPCG, export incentive programmes, service tax rebate or scrip payment options, and an income tax deduction for export profits.

Benami transaction definition clarified: amendment expands scope and prescribes specific exceptions and fiduciary safeguards.
Amendment defines benami transaction as where property is held by one person but consideration is provided by another and the property benefits the consideration-provider, and lists exceptions including Hindu undivided family holdings from known HUF sources, fiduciary holdings (trustees, executors, partners, directors, depository agents), specified relatives holding with consideration from known personal sources, fictitious-name transactions, undisclosed ownership by ostensible owners, and untraceable or fictitious consideration-providers.

Cenvat credit misuse: insurers investigated for claiming improper tax credits using bogus dealer invoices contrary to insurance regulations.
Investigation alleges insurers, appointed as preferred providers by car manufacturers, used dealer-issued invoices for nonexistent services to wrongfully claim Cenvat Credit. Such arrangements conflict with IRDA regulations that restrict who may sell vehicle insurance and cap commissions; the invoices therefore are not permissible under the CENVAT Credit Rules, 2004 and the Service Tax Rules, 1994. Voluntary statements corroborate the scheme and the estimated incorrect credit is substantial.

Prudent expenditure management strengthened by cost-accounting expertise to improve cost efficiency and support fiscal consolidation.
The Finance Minister urged ICoAS officers to upgrade professional skills to achieve highest cost efficiency in government projects, schemes and operations. ICoAS performs pricing, subsidy determination and targeting, assessment of under recoveries, allowances evaluation, user fee reviews, cost reduction studies and verification of contractual claims. Its recommendations have produced operational savings and informed decision making. By applying costing, pricing and financial analysis expertise, ICoAS can advise on subsidy rationalisation, revenue enhancement and expenditure management to support fiscal consolidation.

Customs duty exemption on pulses extended as a temporary trade relief to address inflationary pressure in domestic markets.
Customs duty exemption on pulses was extended in March 2015 for a six-month period, maintaining duty-free import treatment until 30th September 2015 to address rising inflation; this extension was stated by the Minister of State for Finance in reply to a parliamentary question.

Liberalized Remittance Scheme expanded, allowing higher resident remittances for education and medical purposes with simplified documentation.
The Liberalized Remittance Scheme now allows resident individuals, including minors, to remit up to USD 250,000 per financial year for permissible current or capital account transactions, including education and maintenance of relatives; authorized dealers may permit higher amounts for education or medical treatment backed by an institutional estimate; small remittances feature simplified documentation and PAN is not insisted upon. Under Income-tax Rules, no CA certificate is required for specified remittances listed in explanation (2) to Rule 37BB, including education travel and personal gifts and donations.

Price stability central to new monetary policy framework, with RBI setting policy rates to target inflation bands and support growth.
The Monetary Policy Framework Agreement sets price stability as the primary objective while considering growth; the Reserve Bank of India will set policy interest rates and operate with specified medium term inflation targeting bands to guide rate-setting. Complementary fiscal consolidation is described in the Budget Estimates, aiming to reduce the fiscal deficit through lower total expenditure as a share of GDP and improved gross tax revenue as a share of GDP.

Social security scheme Aam Aadmi Bima Yojana provides group death and disability cover with shared premium financing.
Aam Aadmi Bima Yojana is a Social Security Scheme administered by LIC as a group insurance program for persons aged eighteen to fifty-nine in identified occupational groups, providing specified death and disability benefits plus a scholarship add-on. Funding is by an annual premium shared between the Central Social Security Fund administered by LIC and the State/Nodal Agency or individual; premium and scholarship payments are debited from centralized funds with statewise beneficiary coverage and annual outgo reported in annexures.

Advance Pricing Agreements providing transfer pricing certainty and MAP frameworks to resolve cross border tax disputes.
The CBDT has executed Advance Pricing Agreements (APAs) to fix transfer pricing methods and enhance tax certainty, including unilateral APAs and the first unilateral APA with a rollback provision that extends the period of certainty. Unilateral APAs involve the Indian taxpayer and the CBDT alone, while bilateral APAs involve tax authorities of both countries and may be negotiated under Mutual Agreement Procedure frameworks. A recent MAP Framework Agreement with the United States is intended to resolve past transfer pricing disputes and pave the way for bilateral APAs, and similar MAP negotiations with other jurisdictions are advancing to reduce disputes and stabilize cross border taxation arrangements.