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August 24, 2026
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Inter-state heroin trafficking enforcement uncovered concealed narcotics in transport vehicles, triggering arrests, confiscation, and continuing supply-chain investigations.
Operation Black Hawk targeted an alleged inter-state heroin trafficking network moving crude heroin from the North-East region towards Uttar Pradesh. Intelligence-led vehicle tracking and highway interceptions resulted in the seizure of over 18.6 kg of crude heroin and the arrest of three suspected network members under the Narcotic Drugs and Psychotropic Substances Act, 1985. The narcotics were detected in specially fabricated concealed compartments within a passenger vehicle fuel tank and a heavy commercial vehicle body frame. Both vehicles and the contraband were confiscated, while financial and logistical investigations continue into suppliers and distribution channels.
August 24, 2026
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Five-day banking and uniform performance incentives drive proposed bank union action over unresolved pension and employment demands.
Banking labour relations are affected by proposed nationwide industrial action over five-day banking, performance-linked incentives, and pension-related demands. Five-day banking remains pending despite a bipartite arrangement for extended weekday hours. Unions dispute an incentive scheme that differentiates awards by seniority and individual performance, contending that it departs from bank-level performance linkage and uniformity across cadres. They also allege that implementation during pending conciliation breaches a status quo obligation, while pension revision, uniform dearness allowance, and a pension-scheme switch option remain unresolved.
August 24, 2026
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Free trade agreement strategy expands preferential market access and supports India's integration into global value chains and investment partnerships.
India's free trade agreement strategy seeks to expand preferential market access and integrate the country into global value chains as a trusted trading partner. Negotiations with additional country groups and individual nations are intended to extend agreement coverage to a substantial share of global trade. Investment opportunities are identified in data centres, manufacturing and artificial intelligence, alongside an objective of developing more balanced trade relations between India and Japan.
August 24, 2026
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Foreign exchange market conditions supported rupee appreciation, but crude prices, importer demand and geopolitical sanctions concerns limited gains.
Foreign exchange market conditions supported a modest early appreciation of the rupee against the US dollar due to relative dollar softness. The gain was limited by elevated crude oil prices, importer demand for dollars, and caution over anticipated sanctions affecting Iranian oil trade, banking networks and shipping routes. Currency markets remained sensitive to geopolitical uncertainty and possible wider trade effects.
August 23, 2026
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Undeclared gold importation led to customs interception, seizure, arrest and continuing investigation after concealment inside passenger clothing.
Customs enforcement against undeclared gold importation involved interception of a passenger arriving from Sharjah at Ahmedabad airport following passenger profiling. A gold chain concealed inside clothing was recovered after it was not declared for customs purposes. The chain was seized and the passenger was arrested under the Customs Act, 1962, before being released on bail, with further investigation continuing.
August 23, 2026
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Digital arrest cyber fraud used impersonation, forged notices and coercive video calls to obtain transfers through mule accounts.
Digital arrest cyber fraud allegedly used impersonation of law-enforcement and central banking officials, fabricated notices, threats of arrest and continuous video communications to coerce a retired railway employee into disclosing financial details and transferring funds for purported verification. The alleged proceeds were routed through mule and shell accounts. Banking records, KYC details, digital evidence and transaction trails allegedly connected a recipient account with suspicious transactions and multiple cyber-fraud cases; part of the cheated amount was recovered or refunded.
August 23, 2026
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Political targeting allegations challenge money-laundering enforcement actions, searches, questioning, and public disclosures in the CMRL investigation.
CPI(M) alleges that enforcement action under the Prevention of Money Laundering Act in the CMRL matter is politically motivated targeting of Pinarayi Vijayan, family members and party associates. It contends that searches, questioning and public communications during the investigation were used to create suspicion without incriminating evidence, and characterises references to hawala as a new investigative narrative. The party also alleges selective anti-money-laundering enforcement against opposition leaders and states that the company will address the CMRL-related matter.
August 23, 2026
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Money-laundering investigation into alleged liquor transport irregularities results in arrests connected with claimed loss to the government exchequer.
Money-laundering proceedings concerning alleged financial irregularities in liquor transport led to the arrest of former Andhra Pradesh minister Karumuri Nageswara Rao under the Prevention of Money Laundering Act. The inquiry concerns alleged wrongful loss to the government exchequer arising from liquor-transport operations. Investigative measures included raids and the arrest of Rao's son, along with arrests of a former state beverages corporation managing director and the person described as the principal accused.
August 23, 2026
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Alleged LLP record forgery raises cheating, breach of trust and conspiracy concerns over unauthorised partnership interest changes.
Alleged forgery, cheating, criminal breach of trust and conspiracy concern purported unauthorised changes to LLP statutory records filed with the Registrar of Companies. The allegations include use of false documents to remove a nominated partner, substitute another person as partner and transfer a partner's interest in the LLP. The matter also draws attention to separate land-collaboration allegations and delayed possession claims by homebuyers in a halted housing project.
August 23, 2026
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Voluntary production curtailment addresses polyester yarn cost volatility as weaving units seek customs-duty relief on inputs.
Voluntary production curtailment by weaving units is being adopted in response to increased polyester yarn and related input costs. Units may reduce shifts or observe periodic holidays according to individual commercial feasibility to limit yarn consumption until prices and fabric-market conditions stabilise. Industry representatives allege that yarn-price increases exceed corresponding input-cost movements and seek examination of possible artificial pricing, along with customs-duty relief on yarn and relevant inputs.
August 22, 2026
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Retaliatory tariffs escalate trade restrictions as historic tariff authority enables duties without prior investigation or a prescribed duration.
Retaliatory tariffs are set to escalate bilateral trade restrictions after the United States imposed tariffs of up to 50 per cent on specified Canadian imports. Canada proposes dollar-for-dollar countermeasures covering sectors including steel, dairy, appliances, agricultural equipment, pulp and paper and electronics. Section 338 of the Tariff Act of 1930 is invoked as the legal basis for the United States measures, permitting presidential import duties up to 50 per cent without a prior investigation or prescribed maximum duration. Escalation creates uncertainty for supply chains and renewal of the United States-Mexico-Canada Agreement.
August 22, 2026
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Reciprocal tariffs reshape Canada-United States trade relations, increasing supply-chain risks and accelerating Canadian trade diversification beyond its primary export market.
Canada-United States trade relations are described as entering a confrontational phase after tariff negotiations collapsed. The United States imposed tariffs on specified Canadian goods, while Canada committed to reciprocal import taxes and suspended negotiations. The dispute marks a retreat from preferential market access and continental integration. Canada's export dependence on the United States may limit retaliation and increase risks to output, employment, investment and integrated supply chains. Trade diversification, non-United States investment and expanded Pacific export infrastructure are identified as responses to a potentially enduring protectionist bilateral relationship.
August 22, 2026
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Retaliatory tariffs on United States goods will target key sectors after trade negotiations failed and reciprocal tariff relief was unavailable.
Retaliatory tariffs on United States goods will take effect from 8 September in response to United States tariffs on Canadian products and unsuccessful negotiations. The dollar-for-dollar measures will cover steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, with product-specific details to follow. Canada had been willing to remove certain retaliatory tariffs if corresponding United States tariffs were substantially reduced, but considered the final demands unacceptable.
August 22, 2026
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Power tariff revision faces political opposition over increased consumer electricity costs and conflict with prior free-electricity commitments.
Power tariff regulation in Jammu and Kashmir and Ladakh has been revised through approval of an average tariff increase, effective from 1 September 2026. Political representatives have opposed the increase on the ground that it adds to consumer hardship amid unemployment, inflation, and sectoral difficulties. The criticism also contrasts the revised tariff with prior commitments concerning free domestic electricity and gas.
August 22, 2026
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Recruitment examination integrity prompted enforcement scrutiny and proposed disciplinary inquiry, while an officer's absence was attributed to family emergency.
Reported absence of an IAS officer was attributed to a family medical emergency and a pending leave request, rather than enforcement searches concerning an alleged recruitment-examination scam. The officer denied any connection with those searches and expressed willingness to face an inquiry. Enforcement searches at the Karnataka Public Service Commission concerned a money-laundering investigation into alleged recruitment irregularities. The State Cabinet decided to advise suspension of the commission chairperson and initiation of an inquiry after an earlier suspension was set aside for lacking the Cabinet's aid and advice.
August 22, 2026
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Money-laundering and benami asset allegations prompt enforcement proceedings, while the accused officer's brother calls the action selective targeting.
Enforcement proceedings under the Prevention of Money Laundering Act concern allegations that suspended police officer Vijay Choudhary managed numerous assets through benami transactions and engaged in money laundering. An Anti-Corruption Bureau FIR had already been registered in relation to the allegations. Surinder Choudhary characterised the action as selective targeting but maintained that investigating agencies and the judiciary should address and decide matters concerning his family.
August 22, 2026
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Specialised dispute resolution requires technical expertise, timely proceedings, mediation support, and human oversight to safeguard natural justice.
Specialised, timely and effective dispute-resolution mechanisms are necessary for technically complex disputes in telecom, broadcasting, airport tariffs and cyber sectors. Technology may assist legal reasoning but cannot replace judicial reasoning, requiring verification, professional responsibility and meaningful human oversight. Effective specialised adjudication should combine domain expertise with judicial discipline, respond to technical complexity, and protect natural justice, transparency and reasoned decision-making. Mediation and other consensual mechanisms can support dispute resolution.
August 22, 2026
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Form 15CB certification faces scrutiny where inadequate verification allegedly enables foreign remittances through shell companies and false certificates.
Alleged misuse of Form 15CB certification has resulted in criminal proceedings concerning certificates issued for foreign remittances without verification of underlying documents. Form 15CB requires certification of applicable taxability and tax-deduction particulars for specified remittances to non-residents before processing by an authorised dealer. The allegations concern certificates that potentially enabled cross-border transfers through shell or non-existent companies, involving cheating, false certification, false evidence and common intention.
August 22, 2026
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Beginner stock market investing requires regulated accounts, risk-aware financial planning, diversification and informed company assessment before purchasing securities.
Beginner stock market investing requires a bank account, a trading or broking account with a SEBI-registered broker, and a Demat account for electronic holding of securities. Investments involve risk of loss and should align with financial goals, time horizon and loss-bearing capacity. Investors should understand primary and secondary markets, distinguish long-term investing from short-term trading, assess companies before purchase, diversify holdings, consider charges, maintain records and avoid borrowed-money investing, rumours and momentum-driven decisions.
August 22, 2026
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Capacity-based tobacco taxation targets undeclared packing machinery used for clandestine production and clearance without indirect tax payment.
Clandestine manufacture and clearance of pan masala, scented jarda and tobacco products without registration or payment of GST, HSNS Cess and central excise duty was detected through an intelligence-led search. Undeclared Form-Fill-Seal packing machines, workers, finished goods, raw materials, transport vehicles, packing materials and records indicated unaccounted production and clearance. Capacity-based monthly HSNS Cess for pan masala is computed according to the number, type and capacity of installed packing machines, while a corresponding capacity-based central excise levy applies to chewing tobacco, jarda and gutkha.

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PAN 2.0: A Digital Leap in Taxpayer Services

November 27, 2024

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The Permanent Account Number (PAN) has long been a cornerstone of India’s financial and administrative systems, connecting individuals and businesses to vital economic activities while promoting financial transparency and compliance. As a key enabler of the digital economy, PAN has transformed into a gateway for essential services, making it indispensable in daily life. To enhance user-friendliness and align with technological advancements, the Cabinet has recently approved PAN 2.0, a step forward in redefining how PAN serves India's evolving digital and financial landscape.

PAN 2.0: A Landmark in Financial Innovation

The PAN 2.0 Project is a transformative initiative to modernise taxpayer registration through advanced e-governance. With a financial outlay of ₹1,435 crore, it re-engineers the PAN/TAN services to offer seamless digital experiences. This project aims to streamline and modernise the process of issuing and managing PAN and TAN, making it more user-friendly and efficient. The project addresses the requirements of taxpayers, focusing on consolidation of multiple platforms/portals and efficient services to PAN/ TAN holders.

PAN 2.0 Project enables technology driven transformation of Taxpayer registration services and has significant benefits including:

  • A single portal for all PAN/TAN-related services to simplify access for users.
  • Eco-friendly paperless less processes to reduce paperwork.
  • PAN will be issued free of cost, with quicker processing times.
  • Personal and demographic data will be protected through enhanced security measures, including a PAN Data Vault.
  • A dedicated call centre and helpdesk to address user queries and issues.

PAN 2.0 Revolutionizing Existing System

PAN 2.0 aims to revolutionize the existing system by integrating all PAN/TAN services into a unified portal, ensuring a seamless and paperless process. Free e-PAN services and simplified updates enhance convenience for taxpayers. Have a look at these key features in detail: -

(i) Integration of Platforms: PAN-related services are currently hosted on three different portals (e-Filing PortalUTIITSL Portal and Protean e-Gov Portal). In the PAN 2.0 Project, all PAN/TAN-related services will be hosted on a single unified portal of the Income Tax Department. The said Portal would host all end-to-end services related to PAN and TAN like allotment, updation, correction, Online PAN Validation (OPV), Know your AO, AADHAAR-PAN linking, verify your PAN, request for e-PAN, request for re-print of PAN card etc.

(ii) Comprehensive use of technology for paperless processes: Complete the online paperless process as against the prevailing mode.

(iii) Taxpayer facilitation: Allotment/updation/correction of PAN will be done free of cost, and e-PAN will be sent to the registered mail ID. For a physical PAN card, the applicant has to request along with the prescribed fee of Rs 50 (domestic). For delivery of the card outside India, Rs. 15 + India post charges at actuals will be charged to the applicant.

Changes for Existing PAN Cardholders

Old PAN cardholders need not worry—existing PAN cardholders are not required to apply for a new PAN under the upgraded system. The current valid PAN cards will remain fully operational under PAN 2.0 unless holders request an update or correction. No new PAN card will be issued unless a specific request for updates or corrections is made.

QR Code Feature in PAN 2.0

A look at the QR code feature and what’s changing under PAN 2.0:

(i) The QR code is not new; it has been part of PAN cards since 2017-18. Under PAN 2.0, it will be enhanced with a dynamic QR code displaying the latest data from the PAN database.

(ii) PAN holders with older cards lacking a QR code can apply for a new card with a QR code under both the current PAN 1.0 system and the upgraded PAN 2.0.

(iii) The QR code facilitates validation of PAN details, ensuring authenticity.

(iv) A dedicated QR reader application is available to verify details. When scanned, it displays the holder's photo, signature, name, parents’ names, and date of birth.

Global Standards for Secure and Seamless Services

The PAN 2.0 Project adopts global standards to enhance taxpayer registration with seamless digital processes and strong data security. It ensures compliance with key ISO certifications for quality, security, and service management (e.g., ISO 27001, ISO 9001). The project streamlines PAN/TAN registration with simplified online processes, minimal documentation, and centralized databases, improving user experience while safeguarding data through robust security and international best practices.

PAN Service in India

PAN 2.0 builds upon decades of evolution since the introduction of the Permanent Account Number (PAN) in 1972. Designed as a unique 10-digit alphanumeric identifier, PAN links an individual or entity's financial transactions, such as tax payments, TDS/TCS credits, and income returns, to the Income Tax Department. By streamlining and modernizing these processes, PAN 2.0 aims to enhance efficiency, security, and ease of access, ensuring a robust digital framework that simplifies compliance and strengthens financial transparency.

PAN is to be obtained by –

  • Every person if his total income or the total income of any other person in respect of which he is assessable during the year exceeds the maximum amount which is not chargeable to tax.
  • A charitable trust who is required to furnish return under Section 139(4A)
  • Every person who is carrying on any business or profession whose total sales, turnover, or gross receipts are or is likely to exceed five lakh rupees in any year
  • Every person who intends to enter into specified financial transactions in which quoting of PAN is mandatory. • Every non-individual resident person and person associated with them shall apply for PAN if the financial transaction entered into by them during the financial year exceeds Rs. 2,50,000.

Penalty for not having PAN or having more than one PAN:

  • Section 272B of the Income-tax Act imposes a penalty of Rs. 10,000 for taxpayers who fail to comply with PAN-related provisions. This includes not obtaining a PAN when required, knowingly quoting an incorrect PAN on prescribed documents, or providing an incorrect PAN to the person deducting or collecting tax.
  • As per the Income-tax Act, no individual is allowed to hold more than one PAN. If a person does hold multiple PANs, they must inform the Jurisdictional Assessing Officer and request the additional PAN to be deactivated or deleted.
  • Under PAN 2.0, the system has been enhanced with improved logic to identify duplicate PAN requests. This centralized and advanced mechanism will help minimize instances of individuals holding more than one PAN.

TAN Allotment

TAN (Tax Deduction and Collection Account Number) is a 10-digit alphanumeric code issued by the Income Tax Department for entities responsible for TDS/TCS. It is mandatory for filing returns, making payments, and issuing TDS/TCS certificates. TAN cannot be replaced with PAN except under specific provisions like Section 194-IA. Failure to obtain or quote TAN can lead to penalties, emphasizing its critical role in ensuring compliance with tax regulations and accurate deduction tracking.

Conclusion

The PAN 2.0 Project marks a significant leap towards modernizing India's tax system with enhanced digital processes, security, and greater accessibility. By shifting to a Direct Delivery Model and integrating global best practices, it promises a more streamlined and efficient experience for taxpayers, aligning with the government’s vision of a digital India. This initiative not only simplifies services but also ensures data security and transparency, fostering better tax compliance and governance.

References

 

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Acts Income Tax