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    February 9, 2026
    Commerce minister Goyal to meet exporters, industry associations on Feb 11
    February 9, 2026
    SUPREME COURT HIGHLIGHTS
    February 9, 2026
    Opposition likely to give notice for resolution to remove LS Speaker Birla from office
    February 9, 2026
    Delhi Police files FIR over circulation of ex-chief of Army staff Narvane's unpublished book
    February 9, 2026
    Bank can extend collateral free loan up to Rs 25 lakh to MSEs with good track record
    February 9, 2026
    Pakistan will invest USD 1 bn in AI by 2030: PM Shehbaz
    February 9, 2026
    India offers quota-based auto duty cuts, tariff reduction on alcohol under US trade pact
    February 9, 2026
    Rahul indulging in systematic disruption of parliamentary proceedings: BJP
    February 9, 2026
    National interest will be guiding factor: Foreign Secretary Misri on India's energy procurement
    February 9, 2026
    Haryana constitutes high-level committee to strengthen aviation safety at state aerodromes
    February 9, 2026
    Pandemonium in J&K Assembly over SASCI; BJP walks out alleging unfairness
    February 9, 2026
    Aviation regulator DGCA issued 352 show cause notices to airlines for violations in last 2 years
    February 9, 2026
    DMK MP accuses govt of abject surrender in striking one sided trade deal with US
    February 9, 2026
    SC terms siphoning of over Rs 54,000 crore by digital fraud 'dacoity', asks Centre to frame SoP
    February 9, 2026
    Takaichi’s landslide win reflects deep structural, ideological shift in Japan: China
    February 9, 2026
    Budget duped villages, farmers, and deprived classes of society: Surjewala
    February 9, 2026
    Gross NPAs of Scheduled Commercial Banks (SCBs) for domestic operations reach a historic low of 2.15% as of September, 2025
    February 9, 2026
    Fake income tax officer arrested after extortion attempt in UP's Sambhal
    February 9, 2026
    Highlights of draft Income Tax Rules, 2026
    February 9, 2026
    Bhagwan Mahaveer Foundation Announces Awardees for the 29th Mahaveer Awards Honouring Champions of Humanitarian Service
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February 9, 2026
Commerce minister Goyal to meet exporters, industry associations on Feb 11
Show AI Summary
Commerce minister meeting exporters to discuss US tariff reductions and EU FTA implications for export sectors.
A ministerial consultation will discuss a US framework reducing reciprocal tariffs on Indian goods from 25% to 18% and the removal of previously imposed 25% punitive tariffs, in the context of concluded negotiations with the European Union and sectoral impacts on textiles, leather and footwear, and gems and jewellery.
February 9, 2026
SUPREME COURT HIGHLIGHTS
Show AI Summary
Digital fraud, electoral roll revisions, and restrictions on animal sacrifice were addressed with directives and procedural orders.
Procedural and supervisory actions include directing courtroom assault allegations to senior judicial administration, deferring appellate review of a competition law penalty, setting aside an interim stay on relocating an administrative commission, ordering expedited out of turn hearing of a conviction challenge, refusing to cancel bail in a medical negligence prosecution, upholding prohibition on animal sacrifice with limited prayer rights at a religious site, protecting electoral roll revision from impediments, and directing the central administration to draft a multi stakeholder SOP to tackle large scale digital financial fraud.
February 9, 2026
Opposition likely to give notice for resolution to remove LS Speaker Birla from office
Show AI Summary
Lok Sabha Speaker removal notice proposed over disallowing opposition speeches, suspension of MPs, and alleged unaddressed allegations.
Opposition parties are preparing a notice under Article 94-C to move a resolution for the removal of the Lok Sabha Speaker for disallowing the Leader of the Opposition and others from speaking on the Motion of Thanks and for the suspension of eight opposition MPs; over 100 MPs have signed the draft notice, and opposition leaders have sought revocation of the suspensions and permission to debate, while the Speaker said he would consult the government before responding.
February 9, 2026
Delhi Police files FIR over circulation of ex-chief of Army staff Narvane's unpublished book
Show AI Summary
Unpublished military memoir circulated online prompts FIR and Special Cell probe into unauthorized pre-release distribution.
An FIR alleges unauthorized circulation of a pre-print copy of an unpublished book by the former Chief of Army Staff after a PDF and finished cover image surfaced online without required clearance; the case has been registered with the Special Cell to investigate the purported leak or breach, identify the source, and examine distribution via social media and online platforms.
February 9, 2026
Bank can extend collateral free loan up to Rs 25 lakh to MSEs with good track record
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Banks may extend collateral-free loans up to Rs 25 lakh to MSEs based on their track record.
Banks may dispense with collateral for loans to Micro and Small Enterprises up to a base limit of Rs 20 lakh and, based on the MSE unit's good track record and financial position, increase that dispensation up to Rs 25 lakh under their internal policy; banks may use Credit Guarantee Scheme cover where applicable and accepting voluntarily pledged gold and silver for loans within the collateral-free limit will not breach the mandate. The amended lending directions become effective April 1, 2026.
February 9, 2026
Pakistan will invest USD 1 bn in AI by 2030: PM Shehbaz
Show AI Summary
Pakistan will invest USD 1 billion in AI by 2030 to build an AI ecosystem and scale education and workforce training.
The government committed USD 1 billion to build a national AI ecosystem by 2030, to be supported by an AI curriculum rollout in federally run schools and in Pakistan occupied Kashmir and remote Balochistan, 1,000 fully funded PhD scholarships in AI by 2030, and a nationwide program to train one million non IT professionals in AI skills to expand research capacity and workforce upskilling.
February 9, 2026
India offers quota-based auto duty cuts, tariff reduction on alcohol under US trade pact
Show AI Summary
India-US trade pact grants quota-based auto duty cuts and tariff reductions, expanding preferential market access for key sectors.
The pact calibrates tariff concessions and quota mechanisms to grant reduced or zero duties on specified industrial and agricultural exports, using immediate and phased eliminations, tariff reductions, margins of preference and Tariff Rate Quotas for sensitive items; automobiles, medical devices and electric vehicles are managed through quotas, phased schedules or exclusions, while select agricultural products receive zero additional duty and highly sensitive items remain exempt.
February 9, 2026
Rahul indulging in systematic disruption of parliamentary proceedings: BJP
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Rahul Gandhi accused of systematic disruption of parliamentary proceedings and undermining constitutional institutions, BJP says.
BJP accuses Rahul Gandhi of systematic disruption of parliamentary proceedings and deliberately undermining constitutional institutions by obstructing sittings, evading substantive debate, and converting Parliament into a political battleground. The party cites obstruction of the President's Address, tearing papers at the Speaker's chair, heckling, absences from Budget debates, and alleged foreign contacts and remarks as illustrative conduct, framing these acts as demonstrating disregard for democratic norms and parliamentary decorum.
February 9, 2026
National interest will be guiding factor: Foreign Secretary Misri on India's energy procurement
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India's energy procurement will be guided by national interest, keeping multiple and diversified crude oil supply sources.
National interest will be the determinative principle for India's energy procurement, with policy emphasising the maintenance of multiple suppliers and diversification of crude oil sourcing to ensure stability and security; sourcing decisions will be taken based on assessed national interests.
February 9, 2026
Haryana constitutes high-level committee to strengthen aviation safety at state aerodromes
Show AI Summary
Haryana civil aviation forms technical committee to frame SOPs and directs departments to upgrade and maintain state aerodromes.
A high-level technical committee, chaired by the Accountable Manager of the Civil Aviation Department, will prepare a Standard Operating Procedure (SOP) strictly in accordance with DGCA guidelines and examine technical staffing needs. The Public Works Department must prepare cost estimates and execute runway and allied safety works and conduct monthly inspections with reports to the Civil Aviation Department and Deputy Commissioners. The Horticulture Branch must ensure vegetation clearance and obstacle management, while Deputy Commissioners are designated nodal officers for inter-departmental coordination and timeline monitoring.
February 9, 2026
Pandemonium in J&K Assembly over SASCI; BJP walks out alleging unfairness
Show AI Summary
SASCI financing in Jammu and Kashmir accused of creating a debt trap amid allegations of budget under spend and governance failures.
The assembly debate challenged the SASCI financing mechanism as a potential debt trap, alleging market borrowings with extended repayment risk mortgaging public assets; members also raised substantive budgetary concerns including low capital expenditure, many projects with zero spending, possible administrative paralysis or dual power structures impeding implementation, and broader governance issues such as under prioritisation of public health, substance abuse, youth unemployment, and school closures. The government defended SASCI as long term infrastructure financing with up to 50 years' repayment.
February 9, 2026
Aviation regulator DGCA issued 352 show cause notices to airlines for violations in last 2 years
Show AI Summary
DGCA issued 352 show cause notices to airlines; penalties, warnings and compliance monitoring were reported.
DGCA issued 352 show cause notices to scheduled commercial airlines over two years, with penalties imposed in 139 cases, warnings in 113, and satisfactory replies in seven; airline specific enforcement details were not provided. The regulator reported mechanisms to monitor aircraft induction, On Time Performance and route rationalisation, and noted eight aircraft had been inducted this year to date.
February 9, 2026
DMK MP accuses govt of abject surrender in striking one sided trade deal with US
Show AI Summary
India-US trade deal alleged to be one-sided, with tariff concessions threatening domestic manufacturers and farmers.
Allegations assert the India-US trade agreement contains asymmetric market access commitments-reportedly requiring large-scale US exports to India while US tariffs on certain Indian goods persist-amounting to tariff "weaponisation" that will harm domestic manufacturers and farmers, especially textiles. The legislative demand is for full disclosure of the pact's specific terms to Parliament and the public so stakeholders can assess and plan for the economic impact.
February 9, 2026
SC terms siphoning of over Rs 54,000 crore by digital fraud 'dacoity', asks Centre to frame SoP
Show AI Summary
Digital frauds prompt RBI SoP adoption, bank alert duties and a framework for compensation to digital arrest victims.
Large-scale digital frauds requiring prevention, identification and redress necessitate that banks fulfil a bank fiduciary responsibility by issuing alerts for atypical transactions, using AI monitoring and placing temporary debit holds; regulators should adopt and implement a Standard Operating Procedure, coordinate RBI, telecommunications and other stakeholders to freeze and trace illicit transfers and identify mule accounts, and establish a framework for compensation while enabling unified investigations by a federal probe agency.
February 9, 2026
Takaichi’s landslide win reflects deep structural, ideological shift in Japan: China
Show AI Summary
Japan election result prompts China to defend diplomatic pressure and urge Japan to avoid a return to militarism.
China framed Takaichi's electoral victory as reflecting ideological shifts and defended its diplomatic offensive and restrictive measures taken after her Taiwan related remarks, urging Japan to honour existing political understandings and its pacifist constitution and warning against a return to militarism.
February 9, 2026
Budget duped villages, farmers, and deprived classes of society: Surjewala
Show AI Summary
Union Budget cuts allocations for rural, agricultural and social welfare sectors and raises concerns over trade deal clarity.
The Union Budget is criticised for reducing allocations and failing to fund announced rural and agricultural initiatives, with several missions receiving zero allocations and large sums of agri spending unutilised or surrendered; allocations for SC/STs, rural development, education and health are reported cut. The India US trade deal is said to open Indian markets to US agricultural produce without clarity on additional products, raising uncertainty over staples such as milk, cheese and foodgrains.
February 9, 2026
Gross NPAs of Scheduled Commercial Banks (SCBs) for domestic operations reach a historic low of 2.15% as of September, 2025
Show AI Summary
Gross NPAs of Scheduled Commercial Banks fell to 2.15% after reforms strengthening recognition, resolution and recovery.
Gross NPAs of Scheduled Commercial Banks fell to 2.15% as of September 30, 2025, driven by the Asset Quality Review, the Government's 4Rs strategy and reforms strengthening recognition, resolution and recovery. Public Sector Banks show larger declines (2.50% gross NPA) and improved slippage ratios (0.8% for PSBs versus 1.8% for PVBs). Measures cited include Early Warning Systems, the Insolvency and Bankruptcy Code, SARFAESI amendments, increased DRT jurisdiction, specialised stressed asset verticals, and the Prudential Framework for resolution of stressed assets.
February 9, 2026
Fake income tax officer arrested after extortion attempt in UP's Sambhal
Show AI Summary
Fake income tax officer arrested after extortion and forgery allegations; forged ID and notices recovered, case registered.
Allegations that an individual posed as an income tax officer to demand payment to avoid tax proceedings gave rise to criminal charges for extortion, forgery and criminal intimidation; police registered a case on complaint, arrested the suspect and recovered a forged ID, a forged departmental letter and a forged notice used to induce payment.
February 9, 2026
Highlights of draft Income Tax Rules, 2026
Show AI Summary
Income tax rules: PAN thresholds for cash, property, vehicles, hotels and insurance updated and crypto reporting added.
The draft rules implement the new Income Tax Act and streamline compliance through consolidated rules and pre-filled digital forms, while setting revised PAN thresholds: PAN mandatory for annual cash deposits/withdrawals above Rs 10 lakh, not required for hotel bills under Rs 1 lakh, required for vehicle purchases above Rs 5 lakh and for immovable property transactions above Rs 20 lakh; PAN also compulsory for account-based insurance relationships. The draft requires crypto exchanges to share information with tax authorities and accepts Central Bank Digital Currency as an electronic payment mode.
February 9, 2026
Bhagwan Mahaveer Foundation Announces Awardees for the 29th Mahaveer Awards Honouring Champions of Humanitarian Service
Show AI Summary
Mahaveer Awards announce 29th recipients across Non-Violence, Education, Medicine and Community service; nominations now nationally open.
The Foundation announced the 29th Mahaveer Awards in four categories-Non-Violence & Vegetarianism, Education, Medicine, and Community & Social Service-naming five awardees. Each award carries a cash prize of Rs. 10 lakh, a citation and a memento. The recipients were selected from 267 nominations by an eminent Selection Jury chaired by a former Chief Justice; the Foundation invited nominations for the 30th edition via its website.

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DRAFT INCOME-TAX RULES, 2026

February 9, 2026

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DRAFT INCOME-TAX RULES, 2026

1. NOTE – DRAFT INCOME-TAX RULES & FORMS, 2026

2. NAVIGATOR – INCOME-TAX RULES, 2026

3. DRAFT – INCOME-TAX RULES, 2026

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