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    Cabinet clears amendments to insolvency, companies laws
    CBDT launches 2nd NUDGE initiative to strengthen voluntary compliance in respect of Foreign Assets
    Initiative to encourage taxpayers to voluntarily review deduction/exemption claims identified as potentially ineligible through risk analytics
    Seeking stakeholders' input on the proposed Income-tax Rules and related Forms relating to the Income Tax Act, 2025
    Income tax Department carries out nation-wide verification exercise on Restaurants suppressing turnover
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    AAHAR 2026 – 40th Edition: Strengthening India’s role in the global food economy through a structured B2B platform
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March 10, 2026
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Insolvency law amendments advance to enable streamlined corporate resolution and corresponding Companies Act changes approved by Cabinet.
The Union Cabinet approved amendments to the Insolvency and Bankruptcy Code and the Companies Act, advancing legislative changes to corporate insolvency and company regulation; these approvals follow a previously introduced amendment Bill that was referred to a select committee and a government intention to introduce an IBC amendment bill in the current parliamentary session.
March 10, 2026
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Disclosure of foreign assets: taxpayers notified to review and amend returns to correctly report foreign assets and income.
Using CRS and FATCA information, the revenue authority will issue SMS and email notices to taxpayers identified as having undisclosed foreign financial assets or foreign-source income, advising them to review and revise their ITRs to correctly complete Schedule FA and Schedule FSI within a prescribed timeframe to avoid penal consequences.
March 10, 2026
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Voluntary return revision: taxpayers urged to correct ineligible deduction or exemption claims identified through risk analytics and nudges.
The initiative invites taxpayers to voluntarily review and, if necessary, revise ITRs where deductions or exemptions appear potentially ineligible based on risk analytics, including suspected bogus donations, incorrect or invalid donee PANs, and errors in deduction extent; communications are sent via SMS/email under a Non intrusive Usage of Data to Guide and Enable (NUDGE) campaign to facilitate transparent, non-intrusive guidance, and taxpayers may revise returns within the prescribed period or later as permitted by law subject to additional tax liability.
March 10, 2026
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Stakeholder consultation on proposed Income tax Rules invites inputs via e filing portal, focused on simplification and compliance reduction.
Consultation is invited on the proposed Income tax Rules and related Forms implementing the Income tax Act, 2025, via a utility on the e filing portal. Stakeholders must submit inputs after OTP validation, specifying the exact rule, sub rule or Form number. Inputs are solicited under four categories: Simplification of Language; Reduction of Litigation; Reduction of Compliance Burden; and Identification of Redundant/Obsolete Rules and Forms, to be compiled and considered before final notification.
March 10, 2026
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Tax compliance verification using AI uncovers restaurant under reporting; taxpayers urged to file updated returns under Section 139(8A).
AI enabled transactional analytics compared point of sale data from restaurants with declared income and found deletion and modification of bills and exclusion of transactions leading to under reported sales. Preliminary surveys corroborated suppression and prompted targeted investigations. The Department combined targeted enforcement with a guidance campaign, SAKSHAM NUDGE, inviting identified taxpayers to file updated returns under Section 139(8A) and encouraging voluntary correction of returns.
March 10, 2026
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Dividend taxation restructured with preferential treatment for substantial holdings and altered withholding for other shareholders.
The Amending Protocol reallocates taxing rights on capital gains from sale of company shares to the jurisdiction of the company's residence, removes the Most Favoured Nation clause, introduces a split dividend withholding regime that differentiates substantial holders from other shareholders, aligns the definition of Fees for Technical Services with the India-US model, and expands Permanent Establishment to include a Service PE; it also enhances Exchange of Information, adds Assistance in Collection of Taxes, and incorporates applicable BEPS MLI provisions, subject to each Party's internal procedures for entry into effect.
March 10, 2026
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Free trade agreements expand preferential market access while protecting sensitive agricultural sectors and supporting export competitiveness.
India seeks to expand agricultural and processed food exports through recently concluded FTAs that grant preferential market access while explicitly protecting sensitive domestic sectors such as dairy and GM products and shielding key staples from import exposure. Complementary measures include promoting the Agriculture Infrastructure Fund for food processing and value addition, and providing exporter support via the Export Promotion Mission and DGFT to integrate Indian firms into global value chains.
March 10, 2026
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Trade tariff rollback boosts Chinese export resilience despite weaker US demand and geopolitical energy risks.
China's exports rose sharply in January-February driven by semiconductors, autos and electronics, with broader regional demand offsetting reduced shipments to the United States. A recent judicial ruling lowered US tariffs and, together with a potential extension of the October trade truce, has eased import barriers that supported export growth. Risks to export competitiveness include a slowing domestic economy, property-sector weakness and geopolitical energy disruptions that could curb global demand.
March 10, 2026
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External commercial borrowing qualifies under automatic route, structured as a syndicated social loan supporting eligible social projects.
A syndicated facility classified as an External Commercial Borrowing under the automatic route has been arranged to qualify as a social loan. Proceeds will be deployed under the borrower's Social Loan Framework aligned with the Social Loan Principles 2023, supported by a second-party opinion. The financing is intended to fund eligible social projects, enhance liquidity and asset-liability management, and diversify the borrower's foreign funding sources while imposing use-of-proceeds and governance conditions consistent with social loan practices.
March 10, 2026
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Insurance support for exporters to address shipping and insurance disruptions amid West Asia crisis, government seeks coordinated measures.
The government has issued Customs norms for export cargo returning to Indian ports and is developing insurance support schemes, consulting the Export Credit Guarantee Corporation and other departments to assist exporters whose goods have been shipped but face logistical and insurance problems, while an inter-ministerial group monitors developments and engages regularly with exporters.
March 10, 2026
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B2B platform expands India's food export access by linking producers, processors and MSMEs to global buyers and technology partners.
AAHAR 2026 operates as a structured B2B platform to convert India's agricultural and processing scale into global market access by enabling commercial matchmaking, export partnerships, technology transfer and investment linkages. The exhibition prioritises business outcomes-especially for MSMEs-through dedicated pavilions and buyer-seller interactions that translate government support and technological solutions into export orders, value addition and integration into international supply chains while emphasising sustainability across the food value chain.
March 10, 2026
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IP approval speed and transparency urged to position India's IP regime among global leaders with greater access for startups and women.
India aims to make its intellectual property approval system globally competitive by enhancing speed, transparency and efficiency through recruitment, technology upgrades and backlog reduction; it proposes fast track mechanisms and substantial fee concessions to improve access for startups, women entrepreneurs and micro and small enterprises while strengthening the broader innovation ecosystem via school innovation labs, incubation models and stakeholder engagement.
March 10, 2026
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Free Trade Agreements expand market access for pharmaceutical, healthcare and medtech sectors, requiring industry uptake and integrated healthcare ecosystems.
Free Trade Agreements create preferential market access for pharmaceuticals, healthcare and medtech, benefitting farmers, MSMEs and innovators but requiring active industry utilisation. Policy measures needed include building an integrated healthcare ecosystem linking manufacturing, innovation and hospitals; MSME quality upgradation and testing; skills development for caregivers and nurses to support exports; and adoption of digital health and AI for telemedicine and diagnostics.
March 10, 2026
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Design as strategic national capability: new NID and collaborative AI, industry and craft initiatives to mainstream innovation.
Design is promoted as a strategic national capability with a new National Institute of Design in eastern India to expand design education and link traditional crafts, MSMEs and industry. A five-point agenda sets out to position NIDs as regional knowledge hubs; deepen industry-academic and MSME linkages via design clinics and live cluster projects; create Service and Brand India design labs for citizen-facing services; establish joint AI and frontier-technology design labs with technical institutes; and develop the eastern NID as a model campus driven by public-private partnerships and artisan support.
March 10, 2026
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Free Trade Agreements expand market access for MSMEs, prompting quality-led growth and adoption of AI and digital tools.
Free Trade Agreements expand market access for MSMEs into developed markets but require a shift to quality-led growth because FTA coverage raises product quality expectations and duty concessions do not permit substandard goods. The statement emphasizes technology and AI adoption to improve MSME productivity and decision-making, and outlines targeted support for women entrepreneurs through digital commerce onboarding initiatives and an Assist Cell providing mentorship, funding, marketing and technology guidance to enable scaling and sustainability.
March 10, 2026
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Voluntary compliance: SAKSHAM NUDGE urges restaurants to update returns under Section 139(8A) to rectify filings.
The Income Tax Department used AI-enabled transactional analytics to detect widespread under-reporting in the Food & Beverage sector, conducted an on-site survey that revealed significant sales suppression, and has launched the SAKSHAM NUDGE campaign to encourage identified restaurants to file updated returns under Section 139(8A) while investigations continue.
March 10, 2026
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Fraudulent Input Tax Credit scheme exposed, director arrested amid allegations of bogus invoices and absence of genuine business activity.
Alleged fraudulent availment of Input Tax Credit through bogus invoices for purported supplies is based on GST return analysis and verification showing the supplier's declared premises lacked accounting records, stock or invoices and no verifiable payment trail exists; the director implicated failed to explain operations or payments and is said to have directly benefited from the non genuine paper transactions created solely to pass and utilise Input Tax Credit.
March 10, 2026
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IBC case resolution: banks urged to collaborate, reduce adjournments, and ensure time bound progression for improved recoveries.
Expediting resolution of large insolvency matters and correcting procedural inefficiencies was the focus of a high-level review. Banks were directed to adopt collaborative resolution strategies for asset value maximisation and improved recoveries, reduce adjournments and delays in filing CIRP applications, and ensure continuous monitoring of high-priority cases to achieve time-bound progression through insolvency processes.
March 10, 2026
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Force majeure declarations amid Iran conflict relieve suppliers of contractual obligations as oil shipments and production face disruption.
Intensifying hostilities involving Iran have disrupted crude oil production and tanker routes, causing widespread export constraints, storage shortages and elevated market volatility. Attacks on energy infrastructure and near-halt of tanker traffic through the Strait of Hormuz have led producers to cut output and declare force majeure, excusing contractual performance. Policymakers and market actors are considering coordinated responses-such as releasing strategic reserves or stockpiling-while alternative sourcing and technical restoration of production remain critical to stabilising supply.
March 9, 2026
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Under-reporting of sales detected - data-driven inquiry prompts compliance notices for restaurants to update tax filings.
A data-driven exercise found under-reporting of sales in the restaurant sector through AI analytics comparing transactional data with reported turnover, revealing deletion and modification of bills and omission of transactions. The tax authority has opened investigations and, under the NUDGE campaign, is directing identified outlets to update their income tax returns by a compliance deadline while probes into billing-software manipulation and sampled premises continue.

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Merck Foundation and African first Ladies mark International Day of Girls & Women in Science by empowering women in STEM and supporting girl education

February 11, 2026

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Mumbai, Maharashtra, India & Banjul, The Gambia – Business Wire India • Merck Foundation provided 1195 scholarships to women healthcare providers to empower women in science - International Day of Girls & Women in Science 2026 • Dr. Rasha Kelej, Merck Foundation CEO, together with The First Ladies of Africa, mark ‘International Day of Girls & Women in Science 2026’ through their ‘Scholarship Program’, ‘MARS Awards’, and ‘Educating Linda’ Program Merck Foundation, the philanthropic arm of Merck KGaA Germany, marks ‘International Day of Girls and Women in Science 2026’ together with the First Ladies of Africa, and partners including African Ministries of Health, Education, Gender & Information, and Academia through their “Scholarship Program” and “MARS Awards”. Senator, Dr. Rasha Kelej (Ret.), CEO of Merck Foundation emphasized, “As we mark the International Day of Girls and Women in Science 2026, we reaffirm Merck Foundation’s strong commitment to empowering women in science and technology through our “Scholarship Program”, as a part of which we provide specialized medical scholarships to African women healthcare providers, and through the “MARS Awards”, through which we recognize and empower outstanding women scientists in STEM.” Merck Foundation has provided more than 2,500 scholarships to healthcare professionals from 52 countries across 44 critical and underserved medical specialties, and nearly 1,200 scholarships have been provided to women medical graduates. “I am proud that nearly 50% of our total 2500+ scholarships have been provided to women healthcare providers. This is a significant achievement toward reducing the gender gap in science and strengthening women’s leadership in STEM, as while women have made remarkable progress globally, they remain significantly underrepresented in scientific and technological fields. At Merck Foundation, we work every day to bridge this gap,” added Dr. Rasha Kelej. Merck Foundation annually launches their MARS Awards to encourage and recognize ‘Best African Women Researchers’ and 'Best Young African Researcher’. The aim of MARS Awards is to empower women and young African researchers, advance their research capacity, and promote their contribution to STEM (Science, Technology, Engineering, and Mathematics). Merck Foundation has celebrated more than 90 winners so far. Recently, Merck Foundation CEO hosted the virtual Award Ceremony together with their partners Africa Reproductive Care Society – ARCS and Manipal University to recognize African Researchers for their valuable research work and contribution to empowering women and youth in STEM in Africa, with special focus on ‘The Role of Scientific Research in Women Health and Reproductive & Fertility Care’. She also announced the Call for Applications for MARS Awards 2026. Watch Merck Foundation Africa Research Summit MARS 2025 Award Ceremony video here: https://www.youtube.com/live/RtIiZp-amrM Apply for MARS Awards 2026: https://merck-foundation.com/Merck-Foundation-Africa-Research-Summit-Application-Form Merck Foundation strongly believes that Education is one of the most critical areas of women empowerment and serves as the base and key factor in driving an impactful change. “As a part of our Educating Linda program, together with my dear sisters, the First Ladies of Africa, we have year to date provided more than 1200 annual scholarships to deserving yet underprivileged African schoolgirls from 19 countries, enabling them to complete their education and reach their full potential,” shared Dr. Kelej. Moreover, Merck Foundation is raising awareness about the importance of supporting girls’ education through a range of creative initiatives, including inspiring children’s storybooks, animation films, awareness songs, and dedicated episodes on this theme through their Our Africa by Merck Foundation TV program. Watch episodes of Our Africa, focusing on Supporting Girl Education: Episode 2: https://www.youtube.com/watch?v=g5wpzOr22l0 Episode 11: https://www.youtube.com/watch?v=jGz6yNSik7g Episode 14: https://www.youtube.com/watch?v=QjwRnP-Zi60&feature=youtu.be Read Educating Linda Storybook here: https://merck-foundation.com/flipbook-proxy/digital_library/1623068469_6affa28d861b48da41cf.pdf# Watch Merck Foundation Animation Films on supporting girl education: • Jackeline’s Rescue: https://youtu.be/It1D-XEUjeY • Ride Into the Future: https://youtu.be/Piz_6Ob68mI Listen to Merck Foundation songs to support women empowerment and girl education: 1. Watch, share & subscribe “Girls Can” song here, sung by Cwesi Oteng from Ghana and Irene Logan from Liberia: https://youtu.be/6LP92vAWYgs 2. Watch, share & subscribe the “Like Them” song here, sung by Kenneth, a famous singer from Uganda: https://www.youtube.com/watch?v=jCo52vtz3Q0 3. Watch, share & subscribe “Take me to School” song here, sung by Wezi, Afro-soul singer from Zambia, to support girls’ education: https://www.youtube.com/watch?v=rWcujLMbKSg 4. Watch share & subscribe “Tu Podes Sim” Portuguese song, which means “Yes, You Can” in English by Blaze and Tamyris Moiane, singers from Mozambique, in English here: https://youtu.be/BGWR2S-mxl4 5. Watch, share & subscribe “ABC, 123” by Sean K from Namibia song here: https://youtu.be/4Z2i4Wh-bpk 6. Watch, share & subscribe “Brighter day” song by Sean K and Cwesi Oteng from Namibia and Ghana respectively: https://www.youtube.com/watch?v=I3_C4uyFuZk 7. Watch and share “Superwoman Song” by singers Cwezi and Adina from Ghana here: https://www.youtube.com/watch?v=NQ6ZprqAAJs Click the link below to Download Merck Foundation App https://www.merck-foundation.com/MF_StoreRedirection Join the conversation on our social media platforms below and let your voice be heard Facebook: Merck Foundation X: @MerckFoundation YouTube: MerckFoundation Instagram: Merck Foundation Threads: Merck Foundation Flickr: Merck Foundation Website: www.merckfoundation.com About Merck Foundation The Merck Foundation, established in 2017, is the philanthropic arm of Merck KGaA Germany, aims to improve the health and wellbeing of people and advance their lives through science and technology. Our efforts are primarily focused on improving access to quality & equitable healthcare solutions in underserved communities, building healthcare & scientific research capacity, empowering girls in education, and empowering people in STEM (Science, Technology, Engineering, and Mathematics) with a special focus on women and youth. All Merck Foundation press releases are distributed by e-mail at the same time they become available on the Merck Foundation Website. Please visit www.merck-foundation.com to read more. Follow the social media of Merck Foundation: Facebook, X, Instagram, YouTube, Threads, and Flickr. The Merck Foundation is dedicated to improving social and health outcomes for communities in need. While it collaborates with various partners, including governments, to achieve its humanitarian goals, the foundation remains strictly neutral in political matters. It does not engage in or support any political activities, elections, or regimes, focusing solely on its mission to elevate humanity and enhance well-being while maintaining a strict non-political stance in all of its endeavors. To View The Image, Click On The Link Below: Merck Foundation CEO marks International Day of Girls and Women in Science 2026 (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI

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