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    Lokta Opens Its Agentic Loan Servicing Platform to NBFCs Up to Rs 100 crore, with No Platform Fee for Up to Two Years
    RTI seeks Aadhaar date-of-birth changes after pre-poll Bihar pension hike; UIDAI says no such data
    IC Electricals Secures Approx. ₹6 Crore Railway Orders and ₹1 Crore Export Order
    Additional Information related to GDP Estimates Received After Release of Q1 Estimates of FY 2026-27
    Union Minister of Commerce & Industry Shri Piyush Goyal Chairs CEO Roundtable on Ease of Doing Business for Scaling India’s Data Centre Ecosystem
    India–Afghanistan Joint Working Group on Trade Holds Virtual Meeting; Reviews Measures to Strengthen Bilateral Trade and Economic Cooperation
    PM Surya Ghar Yojana 2026: How to Get Rs 78,000 Solar Subsidy & Cut Your Electricity Bill
    Japan's JCR upgrades India's sovereign rating to 'A-', cites solid growth, improved financial system
    In personal insolvency case before NCLAT, Subhash Chandra opposes formation of 5-member NCLT bench
    GoCredit Launches Free Loan App Checker to Verify If a Lending App Is Real, Fake or RBI Registered
    Rupee falls 2 paise to 94.97 against US dollar in early trade
    Senior bureaucrats attend IICA’s ‘weekend wisdom’ program initiave
    NLMC to Facilitate E-Auction of 459 RINL Land Parcels in Visakhapatnam
    CCI approves acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd. and related transactions
    CCI approves acquisition of up to 100% equity shareholding of Apollo Fertility Centre (AFCPL) and Apollo Specialty Hospitals (ASHPL) by Kids Clinic In...
    ED arrests businessman in DMF-linked money laundering case
    Rupee gains 27 paise to close at 94.95 against US dollar
    India's CAD widens to USD 4.2 bn in Q1 amid West Asia conflict: RBI data
    Andhra commercial tax collections rise by 11 per cent in August to Rs 4,983 cr
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September 2, 2026
Show AI Summary
NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
Show AI Summary
Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
Show AI Summary
Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
Show AI Summary
Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
Show AI Summary
Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.
September 2, 2026
Show AI Summary
Trade facilitation and customs cooperation drive follow-up action on connectivity, regulatory coordination, investment promotion and bilateral commercial engagement.
India-Afghanistan bilateral trade and economic cooperation is being advanced through institutional engagement on trade facilitation, customs cooperation, connectivity, investment and commercial exchange. Priority areas include customs and data-sharing cooperation, visa facilitation for traders, banking and financial cooperation, pharmaceutical and agricultural trade, energy cooperation, tariff concessions, cargo connectivity and port-related matters. Follow-up action covers regulatory cooperation, improved connectivity, investment promotion and business-to-business engagement.
September 2, 2026
Show AI Summary
Residential rooftop solar subsidy requires eligibility, prior approval, registered installation, net metering, commissioning, and verified bank details for direct transfer.
PM Surya Ghar Muft Bijli Yojana provides central financial assistance for eligible grid-connected residential rooftop solar systems, capped at Rs. 78,000 for systems of three kilowatts or more. Applicants must be Indian citizens who own a suitable house, hold a valid electricity connection, and have not received an earlier solar-panel subsidy. Applications require portal registration, distribution-company feasibility approval, installation through a registered vendor, net metering, inspection, commissioning and submission of bank details. Assistance is transferred directly after verification. State-specific net-metering procedures, approvals and additional incentives may apply.
September 2, 2026
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Sovereign credit rating upgrade reflects solid growth, stronger financial systems, and improving fiscal and external resilience.
JCR upgrades India's foreign-currency and local-currency long-term issuer ratings to A- with a stable outlook, citing sustained economic growth, productivity-oriented policies and improved financial-system soundness. Fiscal constraints include elevated deficits, intergovernmental fiscal transfers, electoral-cycle sensitivity, and high combined government debt and interest burdens. Greater emphasis on infrastructure capital expenditure has improved the quality of fiscal spending. External resilience is supported by a contained current account deficit, services surplus and foreign-exchange reserves exceeding short-term external debt.
September 2, 2026
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Personal insolvency bench constitution and repayment-plan eligibility remain contested where a larger tribunal bench stays a third-member order.
Personal insolvency proceedings raised a challenge to the National Company Law Tribunal's authority to constitute a five-member bench after a split verdict. The challenge contended that the mechanism for differing views permits reference to another member or members, but does not authorise a five-member bench. The larger bench stayed the third member's order, restricted asset alienation, and suspended an order permitting settlement of personal-guarantee claims. The dispute concerned the validity of that bench, the split-verdict reference procedure, repayment-plan eligibility, and pending creditor appeals.
September 2, 2026
Show AI Summary
Digital lending app verification enables borrowers to identify regulated lenders, grievance channels, and warning signs before accepting loans.
GoCredit's Loan App Checker allows borrowers to search lending apps against the public Digital Lending App directory and identify the regulated lender, grievance contact and RBI Ombudsman escalation route where a match exists. Regulatory reporting by regulated entities enables app-level verification, while borrowers should also check the lender named in app disclosures and loan agreements. A directory listing is a regulated-entity disclosure, not RBI approval or endorsement. Unmatched apps should be assessed through verification steps and reported through official channels where appropriate.
September 2, 2026
Show AI Summary
Rupee depreciation in early trade reflected oil-price pressures, risk aversion, higher Treasury yields and broad dollar strength.
Early foreign-exchange trading saw the rupee weaken against the US dollar amid renewed US-Iran tensions, risk aversion, higher Brent crude prices, and a stronger dollar. Safe-haven demand, inflation concerns linked to potential oil-supply disruption, expectations of a September Federal Reserve rate increase, and higher US Treasury yields supported the broad dollar rally. RBI monitoring of the rupee's decline was noted.
September 2, 2026
Show AI Summary
Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
Responsible artificial intelligence governance requires continuous innovation, inclusive development, responsible deployment and trust-based governance. AI systems should be ethical, safe, transparent, fair and human-centric, with safeguards for privacy, bias, security and accountability. Proportionate and adaptive regulation should provide clear accountability, standards, monitoring, auditability and grievance redressal. Good governance, cybersecurity, personal data protection and responsible AI together strengthen organisational resilience, stakeholder trust, transparency and sustainable innovation.
September 2, 2026
Show AI Summary
E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.
September 2, 2026
Show AI Summary
Competition approval for infrastructure finance restructuring covers acquisition, minority transfer, investment divestment, and merger of regulated NBFCs.
Competition Commission of India approval applies to the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd., a subsequent minority share acquisition by ICICI Bank Limited, and Aseem's divestment of its shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II. Following the acquisition, Climate Finance India Private Limited is intended to merge into Aseem as the surviving entity. The entities involved include RBI-registered non-deposit taking NBFCs operating in infrastructure finance, investment and credit, and infrastructure debt financing.
September 2, 2026
Show AI Summary
Healthcare merger approval enables KCIL to acquire fertility and specialty hospital businesses alongside related equity issuances and investment.
Competition Commission approval covers KCIL's acquisition of up to 100% equity shareholding in AFCPL and 100% equity shareholding in ASHPL. The combination includes KCIL issuing equity shares and optionally convertible debentures to AHLL, representing 9.9% fully diluted shareholding as partial consideration, together with a further KCIL equity investment by Arvon Investments Pte. Ltd. KCIL operates mother and baby care hospitals, while AFCPL provides assisted reproductive treatment and reproductive-medicine services.
September 1, 2026
Show AI Summary
Money-laundering investigation into alleged District Mineral Fund diversion examines purported liaison activity and asset acquisition through proceeds of crime.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged diversion of District Mineral Fund resources through the Chhattisgarh Seed Corporation. The investigation alleges siphoning of public funds by contractors in collusion with government officials and political executives. A businessman was identified as an alleged liaisoner and financial coordinator between public servants, district authorities and private vendors. Allegations also include receipt of commissions, acquisition of immovable assets from purported proceeds of crime, non-production of records, and contradictory statements during questioning.
September 1, 2026
Show AI Summary
Foreign exchange market dynamics: rupee appreciation reflected portfolio inflows, domestic growth, and possible central-bank intervention amid external pressures.
The rupee appreciated against the US dollar, supported by domestic growth, controlled fiscal slippage, portfolio-related inflows and possible Reserve Bank of India intervention. Its gains were limited by weak equity markets, rising crude oil prices and a stronger dollar. External geopolitical tensions and hawkish US monetary signals remained potential pressures. Domestic indicators showed strong economic activity, while the current account deficit widened because of a higher merchandise trade deficit. Foreign portfolio inflows continued despite investors remaining net sellers during the year.
September 1, 2026
Show AI Summary
Current account deficit widened as merchandise trade deficit increased, notwithstanding stronger services receipts, remittances, and foreign direct investment inflows.
India's current account deficit widened in the first quarter of 2026-27 as the merchandise trade deficit increased. Higher net services receipts, increased personal transfer receipts and lower net primary-income outgo partly supported the external account. Financial-account movements included higher net foreign direct investment inflows, a shift in foreign portfolio investment from net inflow to net outflow, and lower net inflows through non-resident deposits and external commercial borrowings. Foreign exchange reserves declined on a balance-of-payments basis during the quarter.
September 1, 2026
Show AI Summary
Technology-enabled tax compliance and enforcement supported higher commercial tax collections, while GST rate reductions moderated sectoral net GST growth.
Technology-enabled tax administration supported commercial tax and net GST collection growth in Andhra Pradesh during August 2026 and the cumulative period through August. AI-based analytics and scrutiny, IGST reversals, UPI-based enforcement, registration verification, Aadhaar authentication, digital payment enablement, predictive analytics and data sharing strengthened compliance, scrutiny and revenue mobilisation. Petroleum VAT, professional tax, liquor VAT and IGST settlement also increased, while GST rate reductions moderated net GST performance in specified product sectors.

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CITIZEN'S CHARTER - A DECLARATION OF OUR COMMITMENT TO THE TAXPAYERS JULY, 2010

July 31, 2010

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CITIZEN'S CHARTER

INCOME TAX DEPARTMENT

GOVERNMENT OF INDIA

A DECLARATION OF OUR COMMITMENT TO THE TAXPAYERS JULY, 2010

 

CITIZENS CHARTER

The Citizen's Charter of the Income Tax Department is a declaration of its Vision, Mission and Standards of Service Delivery.

 

VISION

To partner in the nation building process through progressive tax policy, effcient and e‑ective administration and improved voluntary compliance

 

MISSION

To formulate progressive tax policies

To make compliance easy

To enforce tax laws with fairness

To deliver quality services

To continuously upgrade skills and build a professional and motivated workforce

 

We Believe In

Equity and transparency;

Promoting taxpayer awareness towards voluntary compliance;

Effective deterrence against tax evasion;

Continuous research as the foundation of tax policy and administration; and

Adopting technology as an enabler for improved service delivery.

 

This charter is issued on 24th of July 2010, revisiting the earlier charter issued in July 2007. In the preparation of this charter, consultations have been held with all stakeholders. This charter reflects the best endeavor of the Department.

The Department intends to review the charter within a period of three years.

 

Service Delivery Standards

We aspire to provide the following key services within specified timelines:

Sl. No.

Key Services

Timelines

(From the end of the month in which return/ application is received/cause of action arises)

1.

Issue of refund along with interest u/s 143(1) of the I.T. Act

 

 

(a) in case of electronically filed returns

6 months

 

(b) other returns

9 months

2.

Issue of refund including interest from proceedings other than section 143(1) of the I.T. Act

1 month

3.

Decision on rectification application

2 months

4.

Giving e‑ect to appellate/revision order

1 month

5.

Acknowledgement of communication received through electronic media or by hand

Immediate

6.

Decision on application seeking extension of time for tax payment or for grant of installment

1 month

7.

Issue of Tax Clearance Certificate u/s 230 of the I.T. Act

Within 3 working days

from the date of receipt

of application

8.

Decision on application for recognition/approval to provident fund/superannuation fund/ gratuity fund

3 months

9.

Decision on application for grant of exemption or continuance thereof to institutions (University, School, Hospital etc.) under section 10(23C) of the I.T. Act

12 months

10.

Decision on application for approval to a fund under section 10(23AAA) of the I.T. Act

3 months

11.

Decision on application for registration of charitable or religious trust or institution

4 months

12.

Decision on application for approval of hospitals in respect of medical treatment of prescribed diseases

3 months

13.

Decision on application for grant of approval to institution or fund under section 80G(5)(vi) of the I.T. Act

4 months

14.

Decision on application for no deduction of tax or deduction of tax at lower rate

1 month

15.

Redressal of grievance

2 months

16.

Decision on application for transfer of case from one charge to another

2 months

The above timelines will apply to cases where returns/applications are complete in all respects.

 

 Expectations from Taxpayers

We expect our taxpayers:

to be truthful and prompt in meeting all legal obligations;

to pay taxes in time;

to obtain PAN and quote it in all documents and correspondence;

to obtain TAN for every unit and quote it in all documents and correspondence;

to quote correct tax payment/deduction particulars in tax returns;

to verify credits in tax credit statements;

to file complete & correct returns, within the due dates and in appropriate tax jurisdictions;

to quote correctly Bank Account Number, MICR Code and other Bank details in the returns of income;

to intimate change of address to the tax authorities concerned;

to intimate any change in PAN particulars to designated agency; and

to quote PAN of all deductees in the TDS Returns.

 

We Endeavour

to promote voluntary compliance;

to educate tax payers and citizens about tax laws;

to provide information, forms and other assistance at the facilitation counters and also on website www.incometaxindia.gov.in;

to continuously improve service delivery;

to induct state-of-the-art and green technology with a user friendly interface; and

to inculcate a healthy tax culture where the taxpayers and the tax collectors discharge their obligations with a sense of responsibility towards nation building.

 

Grievance Redressal

All grievances received will be redressed within two months from the end of the month of their receipt.

Petitions on un-redressed grievances filed before next higher authority will be decided within 15 working days of receipt.

The taxpayer can approach the Income Tax Ombudsman in case of un-redressed grievance.

The grievance redressal mechanism including contact details of Public Grievance O­cers are available on the website ww.incometaxindia.gov.in.

 

Topics

Acts Income Tax