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March 25, 2026
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Scientific research programme approval reporting under tax law supports compliance monitoring, deduction verification, and administrative recordkeeping.
FORM 10 is a statutory report furnished by the prescribed authority in relation to a scientific research programme approved under section 45(3)(c) read with Rule 30. It is a post-approval monitoring instrument, furnished to the Chief Commissioner of Income-tax having jurisdiction over the sponsor within the prescribed time. The form records approval details, programme particulars, conditions of approval, and supports administrative monitoring, compliance verification, and cross-checking of deduction claims. It does not alter or substitute the approval granted under FORM 8.
March 25, 2026
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Scientific research deduction claims depend on programme-specific Form 9 receipts, approval linkage, and statutory compliance requirements.
Form 9 is a statutory receipt for payments made towards an approved scientific research programme and links the payment stage with the approval granted in Form 8 and the sponsor's deduction claim under section 45(3)(c) of the Income-tax Act, 2025. It is issued by the designated executing institution, records sponsor details, payment particulars, programme information, approved cost, tax years and cumulative receipts, and is programme-specific. The receipt supports but does not itself establish entitlement to deduction, which remains subject to statutory compliance and verification.
March 25, 2026
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Form 9 receipt for approved scientific research payments supports deduction claims and compliance tracking.
Form 9 is the prescribed receipt for payments received towards an approved scientific research programme under section 45(3)(c) read with Rule 30. It is issued to the sponsor by the executing institution, records the payment against the approved programme in FORM 8, and supports the sponsor's deduction claim subject to compliance with the Act and Rules. The form is programme-specific, may be issued for each payment or tranche including advance payments, and captures the sponsor details, payment particulars, approved cost, approved tax years, and cumulative receipts. It is not filed with the tax department but retained as supporting evidence.
March 25, 2026
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Scientific research programme approval under tax law requires Form 8, with defined scope, cost, compliance and monitoring conditions.
Form 8 is the statutory approval order for a scientific research programme under section 45(3)(c) of the Income-tax Act, 2025 and Rule 30. It is issued after examination of a sponsor's Form 7 application, records the approved scope, duration, cost, tax years and conditions of the programme, and is signed by the designated authority. The approval is programme-specific, cost-specific and time-bound, while post-approval compliance includes separate books, audit, reporting, asset restrictions and final completion reporting.
March 25, 2026
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Energy Star ratings shape window air conditioner pricing by raising upfront cost while lowering electricity bills and maintenance.
Energy Star ratings for window air conditioners reflect Bureau of Energy Efficiency standards and indicate how much cooling an AC delivers per unit of electricity consumed. Higher-rated units generally cost more upfront because they use advanced components, smarter controls, and more efficient motors and compressors, but they can lower electricity bills, reduce maintenance, and extend service life. Choosing the right star rating depends on usage patterns, room size, budget, and local electricity tariffs, with energy efficiency affecting both purchase price and long-term ownership cost.
March 25, 2026
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Scientific research programme approval in FORM 8 governs tax deduction eligibility, compliance conditions, and programme-specific approval limits.
Approval in FORM 8 records the prescribed authority's sanction of a scientific research programme under section 45(3)(c) read with Rule 30, following an application in FORM 7. It is a statutory approval order, not a filing by the sponsor, and identifies the programme, approved tax years, approved total cost, and any attached conditions. FORM 8 is programme-specific and cost-specific, and deduction depends on compliance with the Act, the Rules, and post-approval obligations.
March 25, 2026
Show AI Summary
Scientific research approval through Form 7 creates a programme-specific gateway for deduction eligibility and post-approval compliance.
Prior approval for a sponsored scientific research programme is obtained through Form 7, which is the programme-specific application for approval of expenditure on scientific research carried out through a National Laboratory, University, Indian Institute of Technology or specified person. The prescribed authority examines the programme's feasibility and scientific merit, communicates approval or rejection in Form 8, and the approval is cost-specific and only a pre-condition for deduction. Post-approval compliance requires separate accounts, periodic reporting, restricted use of funds and completion reports.
March 25, 2026
Show AI Summary
Prior approval for scientific research deduction requires FORM 7 before commencement, with strict programme-specific compliance conditions.
A sponsor seeking deduction for expenditure on a scientific research programme must furnish FORM 7 as the prescribed application for prior approval before commencement. Separate applications are required for each programme, and the form calls for details of the sponsor, the proposed research programme, its duration and estimated cost, and the executing institution. Approval may be granted only for eligible programmes carried out through specified institutions, while market research, sales promotion, routine quality control, commercial production, and routine data collection are excluded.
March 25, 2026
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Rupee weakness amid foreign fund outflows, lower crude prices and expectations of RBI dollar support.
The rupee weakened in early trade against the US dollar amid sustained foreign fund outflows and market uncertainty linked to the West Asia crisis. The decline was partly cushioned by lower global crude oil prices, a weaker dollar and a firm opening in domestic equity markets. Market participants also expected RBI intervention through dollar sales, while exporters were hedging and importers buying on dips.
March 25, 2026
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Audit report compliance for deduction claims under income-tax law requires Form 6, UDIN, and electronic verification.
Form 6 is the prescribed income-tax audit report for an assessee claiming deduction under Section 44 or Section 51 of the Income-tax Act, 2025, and must be certified by an accountant. It is to be filed electronically through the Income-tax e-Filing Portal, verified by Digital Signature Certificate, and furnished one month before the due date for the return of income for the relevant Tax Year. The form requires audit confirmation, supporting records, UDIN generation, and assessee verification for claims under both deduction provisions.
March 25, 2026
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Audit-certified deduction reporting requires electronic Form 6 filing, accountant certification, UDIN, and digital verification for qualifying expenditure claims.
Form 6 is the prescribed audit report for an eligible assessee claiming deductions under section 44 for preliminary or project-related expenditure or under section 51 for mineral prospecting and development expenditure. It must be certified by an accountant and furnished electronically through the Income-tax e-Filing Portal. The form is filed once in the first tax year in which the deduction is claimed, at least one month before the due date for furnishing the return of income, with UDIN generation and digital verification required.
March 25, 2026
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Money laundering bail refusal highlights serious economic offences, sufficient PMLA material, and unresolved double mortgage allegations.
Bail was refused in a money laundering prosecution under the Prevention of Money Laundering Act where the court found sufficient material linking the accused to the offence and treated the recorded PMLA statements as forming a formidable case. The court observed that economic offences pose a serious threat to the financial health of the country and that the gravity, seriousness and magnitude of the alleged conduct, along with the accused's major role, weighed against release on bail. Partial repayment did not discharge criminal liability, and the absence of an explanation for the alleged double mortgage remained relevant at the bail stage.
March 24, 2026
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Money laundering bail disputes hinge on fraudulent credit facilities, double mortgaging, and the gravity of economic offences.
Bail in a money laundering prosecution was opposed on the basis that the accused was linked to allegedly fraudulent borrowing and diversion of bank credit facilities, including mortgage and alleged double sale of secured properties. The prosecution relied on statements under the Prevention of Money Laundering Act and other material to contend that sufficient evidence connected the accused to the offence and that the matter involved a serious economic offence affecting the financial system.
March 24, 2026
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Scheduled Caste status and religious conversion: membership ends immediately on conversion to a non-specified faith.
A person belonging to a Scheduled Caste loses that status on conversion to a religion other than Hinduism, Sikhism or Buddhism, and the loss is immediate and complete from the moment of conversion. The bar in the Scheduled Castes Order, 1950 is categorical, so a person who professes and practices a non-specified religion cannot claim Scheduled Caste membership for statutory benefits, protections, reservations or other entitlements flowing from that status.
March 24, 2026
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Green budget drives welfare schemes, electric mobility, disaster readiness and sectoral infrastructure spending across Delhi.
Delhi's FY27 budget sets out a broad fiscal and welfare programme with major allocations for environmental protection, education, health, transport, urban development, social welfare and water supply. It introduces measures such as free diagnostic tests for newborn babies, bicycles for girl students, free LPG cylinders for ration card-holding families on Holi and Diwali, the Mahila Samriddhi Yojna, electric auto-rickshaw permits for women and transgender persons, and expanded Ayushman Bharat Health coverage. It also provides for electric buses, a semiconductor policy, disaster management infrastructure, firefighting upgrades and water and sewage projects.
March 24, 2026
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Preliminary expense disclosure in Form 5 requires electronic filing, detailed reporting, and strict compliance for income-tax deduction claims.
Form 5 is a mandatory electronic statement for an assessee claiming deduction for preliminary expenses under the Income-tax Act, 2025, to be furnished in accordance with Rule 27 and one month prior to the due date for filing the return of income. It requires disclosure of assessee particulars and transaction-level details of qualifying preliminary expenses, including feasibility reports, project reports, market or business surveys, and engineering services, with related PAN, TDS, and payment particulars.
March 24, 2026
Show AI Summary
Preliminary expenses deduction reporting requires electronic Form 5, with item-wise disclosure, verification, and timely portal filing.
Electronic Form 5 is the prescribed statement for reporting preliminary expenses claimed as a deduction under Section 44 of the Income-tax Act, 2025. It applies to eligible expenditure connected with setting up or extension of a business, including feasibility reports, project reports, market or business surveys, and engineering services related to business, and must be filed for each tax year through the income-tax portal using digital signature or electronic verification. The form requires disclosure of assessee particulars, item-wise expense details, service-provider information, payment particulars, and TDS data where applicable.
March 24, 2026
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Functional cooperatives survey training set to standardise nationwide data collection and measure economic contribution.
Preparatory training was organised for the Rapid Survey of Functional Cooperatives before six months of field work beginning in April 2026. The workshop brought together senior officers and field functionaries who will serve as Master Trainers for subsequent regional training, with the aim of standardising nationwide survey operations. The survey will assess the contribution of functional cooperatives to employment generation and economic activity across rural and urban areas, and will estimate indicators such as Gross Value Added, Gross Value of Output and employment generated by cooperatives.
March 24, 2026
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Unincorporated sector survey shows stronger employment, higher value added, rising wages and wider internet adoption across establishments.
Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2025 covers unincorporated non-agricultural establishments in manufacturing, trade and other services, and collects data on workers, Gross Value Added, emoluments, fixed assets, loans, ownership, registration status and use of information and communication technology for policymaking and national accounts. The survey reports growth in establishments, employment, Gross Value Added, labour productivity, female-owned proprietary establishments, emolument per hired worker and internet use, and notes a revised sampling design enabling quarterly selection and district-level annual estimates.
March 24, 2026
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District-led export promotion expands through local committees, action plans, and market access support for MSMEs and farmers.
District-led export promotion under the Districts as Export Hubs initiative is implemented through State Export Promotion Committees and District Export Promotion Committees across all States and Union Territories. District Export Action Plans identify export potential in local products and sectors, while outreach events, public data portals, and district-level committees are used to build awareness, address bottlenecks, and support exporters, manufacturers, MSMEs, farmers, and small-scale industries.

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Customs & Trade

rivexa Ignites a New Era of Global Exports

February 19, 2026

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Tiruppur, Tamil Nadu, India – Business Wire India Reinforcing its vision to reshape India’s global trade landscape, rivexa hosted a landmark industry engagement- rivOlution 2026, on 10th February at the Padmashri Dr. A. Sakthivel Auditorium, Tiruppur Exporters’ Association (TEA). The event brought industry leaders together to foster dialogue on global trade, digital export ecosystems, and sustainability-driven growth.

The engagement showcased how rivexa is enabling seamless cross-border trade and expanding global market access for Indian businesses through technology-driven sourcing and financial solutions.

rivexa: Demystifying the World of Exports and Finance The session commenced with Mr. Mainak Sarkar, Marketing Head, rivexa, welcoming the industry leaders and outlining rivexa’s vision for a supplier-centric export ecosystem.

“rivOlution 2026 is not just an event, it is a conversation starter for suppliers to understand the entire ecosystem behind global exports, cross-border finance, and payment solutions. This initiative reflects rivexa’s commitment to supplier centricity, serving as a powerful platform for industry collaboration and business growth. Through rivexa, we aim to enable exporters to access global opportunities efficiently and scale with confidence,” said Mr. Sarkar.

Reinforcing rivexa’s long-term vision, Mr. Soumen Baral, Chief, rivexa, highlighted the platform’s role as a trusted partner in enabling India sourcing for global buyers and providing a transparent export ecosystem for Indian MSMEs.

“rivexa connects every stakeholder in cross-border trade- manufacturers, global buyers, quality partners, logistics service providers, financial partners- serving as a dedicated sourcing partner in India. With 500+ global buyers across categories, we enable seamless sourcing from India with a data-backed manufacturing edge over competing Asian markets. By showcasing the capabilities of manufacturers based in large clusters such as Tiruppur, rivexa builds digital credibility, visibility, and efficiency. We provide dedicated support for both sides of the supply chain- driving sustainable growth through trust, technology, and reliable execution,” said Mr. Baral.

Watch highlights from rivOlution 2026 here: [Video Link] Strengthening Global Trade Ecosystems for Indian Exporters The event featured key representatives from the Tiruppur Exporters’ Association (TEA), who shared forward-looking perspectives on strengthening India’s export ecosystem. Mr. K. M. Subramanian- President, TEA, underscored Tiruppur’s commitment to advancing its position in international trade and reinforcing its leadership as India’s leading knitwear and apparel manufacturing hub. Mr. Anand Muthuswamy- Joint Secretary, TEA, highlighted the need for stronger exporter networks, streamlined trade processes, and deeper international collaboration to drive industry growth. Mr. Periasamy S- Advisor, Sustainability, TEA, emphasized the growing importance of sustainable and responsible manufacturing in enhancing global competitiveness.

The event also featured expert sessions on financial and technological enablers of global trade. Mr. K. Rajaraman, Chairperson, International Financial Services Centres Authority (IFSCA)- GIFT City, Gujarat, shared insights on evolving cross-border finance frameworks supporting secure and efficient international transactions. Mr. Anand Chandramouli, Head of Partnerships, Glomo, highlighted innovations in cross-border payment solutions that enhance trade accessibility for exporters.

Actionable Insights for Responsible Global Trade Discussions with leading Indian exporters generated actionable insights to further strengthen rivexa’s platform capabilities and enhance international trade facilitation, with a strong emphasis on sustainability-led export growth and ESG-aligned compliance benchmarks to build resilient, future-ready supply chains.

Key conversations explored practical approaches to reducing environmental impact across export ecosystems. This included adoption of renewable energy in manufacturing, responsible and ethical sourcing, recycling and circular production models, water conservation, and the implementation of Zero Liquid Discharge (ZLD) systems.

As global markets continue to evolve, rivexa positions itself as a catalyst for advancing India’s export transformation by enabling businesses with an efficient, transparent, and digital pathway to global markets. Through rivOlution 2026, the platform aims to accelerate industry collaboration and innovation while shaping the future of responsible international trade.

About rivexa rivexa is the trusted gateway to global B2B sourcing from India, building a powerful cross-border trade ecosystem that enables Indian MSMEs to scale and compete globally. Launched in October 2023, rivexa delivers a seamless end-to-end procurement experience- supporting supplier discovery, quality assurance and production monitoring. With a growing presence in Europe, Oceania, UAE, UK, and the US, rivexa continues to strengthen India’s position as a reliable sourcing destination. With 1,500+ verified suppliers, 500+ global buyers, and 10,000+ trade enquiries, rivexa is accelerating India’s rise as a global sourcing powerhouse. It supports key sectors such as fashion & home textiles and industrial goods- positioning India as a sourcing hub and shaping the future of international commerce.

About mjunction mjunction services limited is India’s leading B2B e-commerce company, established in 2001 as a joint venture between Tata Steel and Steel Authority of India Limited (SAIL). The company provides technology-driven digital procurement, e-auction, and supply chain solutions. It enables transparent transactions, efficient sourcing, and operational optimization for businesses across industries such as steel, coal, power, and manufacturing. With a strong focus on innovation, compliance, and global market access, mjunction supports both domestic and international trade while helping organizations streamline procurement and enhance supply chain efficiency.

To View The Image, Click On The Link Below: Team rivexa at rivOlution 2026, Tiruppur Dignitaries from Tea Exporters Association at rivOlution 2026, Tiruppur (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 PWR PWR

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