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March 30, 2026
Show AI Summary
Business trust income distribution statements require auto-generated Form 77 for unit holders with income breakup and timely furnishing.
Form 77 is the individual unit holder statement furnished by a Business Trust to each unit holder for reporting income distributed during the tax year. It is generated automatically from Form 76 through the e-filing system, requires no separate attachments, and is furnished to each unit holder by 30 June following the tax year. The form captures unit holder details, business trust details, and income distribution particulars, including interest, letting, leasing or renting income, dividend income, and other income, and is verified by the responsible person for the trust.
March 30, 2026
Show AI Summary
Pass-through income reporting under business trust rules through Form 77 and classified disclosure for unitholders.
Form 77 is the prescribed statement for furnishing income distributed or credited by a business trust to each unitholder under section 223. It is generated from the parent Form 76 through the prescribed e-filing portal, is not filed separately or offline, and must be furnished by 30 June of the following financial year. The form supports compliance by classifying pass-through income and assisting unitholders in reporting income under the appropriate heads.
March 30, 2026
Show AI Summary
Business trust income reporting through Form 76, capturing distributions to unit holders under the pass-through taxation framework.
Form 76 is the annual income-tax statement required from a Business Trust registered with SEBI as a REIT or InvIT for reporting income distributed to unit holders under section 223 of the Income Tax Act, 2025 and rule 145 of the Income Tax Rules, 2026. The form captures the trust's basic details, trustee particulars, SEBI registration data, listing status, income classification, unit holder-wise distribution, and capital redemption details, and is to be filed electronically by 15 June of the financial year following the relevant tax year.
March 30, 2026
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RBI net open position cap for banks lifts rupee in early trade as dollar exposure is reduced
RBI lowered the net open position that banks may keep overnight to USD 100 million, requiring compliance by 10 April 2026. The circular was aimed at limiting banks' currency exposure in onshore foreign exchange markets and prompted position adjustment by banks holding long dollar positions. The measure had an immediate market effect, with the rupee recovering in early trade after recent weakness.
March 30, 2026
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Pass-through taxation for business trusts through Form 76 filing, income distribution reporting, and online compliance requirements.
Form 76 is the prescribed online statement for income paid or credited by a Business Trust to its unitholders. It must be filed by the person responsible for distributing income on behalf of the trust by 15 June of the following financial year, and the filer must possess the relevant registration certificate, audited accounts, and certified income distribution records. The form supports pass-through taxation for Business Trusts and the exemption structure for specified income streams.
March 30, 2026
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Pass-through income reporting through Form 75 enables investor-wise disclosure by venture capital funds and companies.
New Form 75 is a child form generated from Form 74 for furnishing an investor-wise statement of income paid, credited or deemed to be credited by a Venture Capital Company or Venture Capital Fund to investors. Linked to section 222 of the Income-tax Act, 2025 and rule 145 of the Income-tax Rules, 2026, it provides head-wise details of pass-through income for reporting in the return of income. The form is prepared annually for each investor, verified by the authorised person of the VCC or VCF, and distributed through the e-filing process.
March 30, 2026
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Member-driven WTO reforms discussed as India and the European Union review trade cooperation and advance free trade agreement processes.
India and the European Union reviewed trade and economic cooperation on the sidelines of the WTO Ministerial Conference, with discussion on WTO reform, the moratorium on customs duties on electronic transmissions, and the Investment Facilitation for Development Agreement. The parties agreed that WTO reforms should remain member-driven and considered steps to complete the necessary processes for the early signing of the recently concluded India-EU Free Trade Agreement.
March 30, 2026
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India-Canada CEPA talks advance alongside wider sectoral cooperation and WTO reform discussions at MC14.
India and Canada discussed expediting CEPA negotiations and broadening sectoral cooperation in shipbuilding, pharmaceuticals, tourism, education, nuclear energy, agriculture and critical minerals. The Ministers also exchanged views on WTO reforms, the customs duties moratorium on electronic transmissions, the Investment Facilitation for Development Agreement, dispute settlement and the MPIA, while India stressed consensus-based WTO decision-making and priority for unfinished agricultural mandates.
March 30, 2026
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India-UK trade cooperation advances as both sides review CETA implementation and promote wider stakeholder outreach.
India and the United Kingdom reviewed implementation of the India-UK Comprehensive Economic and Trade Agreement after completing internal approval processes, and looked forward to its entry into force in line with the agreed timeline. The discussion also emphasised outreach initiatives, business delegations and regional engagement to broaden stakeholder use of the agreement and ensure its benefits reach businesses across both countries.
March 30, 2026
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Member-driven WTO reform and India-New Zealand trade cooperation advance alongside FTA progress and sectoral engagement.
India and New Zealand discussed preparations for the Prime Minister's visit, progress toward the India-New Zealand Free Trade Agreement, and practical cooperation in agriculture and sports. India reiterated support for a member-driven WTO, emphasising General Council-led reform, consideration of the moratorium on customs duties on electronic transmissions, and incorporation of the Investment Facilitation for Development Agreement, while both sides stressed the need for clarity, progress, and continued member engagement.
March 30, 2026
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Fisheries subsidies negotiations stress equity, sustainability and special treatment for developing countries and artisanal fishers.
India's position in the fisheries subsidies negotiations at the World Trade Organization centred on preserving sustainability, equity and development space in the second phase of discussions on overcapacity and overfishing. India supported a Ministerial Decision that would guide Phase II negotiations in line with Sustainable Development Goal 14.6 and emphasised the need for Special and Differential Treatment for developing countries and least developed countries, together with the principles of Common but Differentiated Responsibilities and Respective Capabilities and the Polluter Pays Principle. India pressed for a lengthy transition period, stronger disciplines on distant-water industrial fishing fleets, a permanent carve-out for small-scale and artisanal fishers, and subsidy disciplines based on per capita intensity.
March 30, 2026
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WTO e-commerce duty moratorium remains unresolved as members fail to agree on extension and talks continue
Failure to agree at the WTO Ministerial Conference on extending the moratorium on customs duties for electronic transmissions leaves the issue unresolved, with negotiations to continue in Geneva. The moratorium on e-commerce duty bans, together with the related TRIPS non-violation and situation complaints moratorium, is due to expire at the end of the month. The conference also advanced WTO reform, fisheries subsidies negotiations, and decisions on small economies and special and differential treatment under the SPS and TBT Agreements.
March 29, 2026
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E-commerce customs duty moratorium extension faces split views as members debate digital trade and revenue implications.
World Trade Organisation members are negotiating whether to extend the moratorium on customs duties on electronic transmissions, including digital downloads and streaming, as the current extension is due to expire. Members remain divided on the duration of any further extension, with some opposing renewal or preferring a short extension and others seeking a longer period. The issue is linked to ongoing concerns over the treatment of digital imports and the scope of the duty ban that has been periodically renewed since 1998.
March 29, 2026
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Misdeclared import consignment leads to seizure of hydroponic marijuana at airport and arrest of one person.
Customs authorities at Pune International Airport seized a consignment of hydroponic marijuana that had been declared as food items and packed in boxes labelled as "Mandarin orange sacs". The goods arrived from Bangkok, and inspection revealed sealed tin cans containing a vacuum-sealed pack of hydroponic marijuana. The entire consignment yielded 76.58 kg of the contraband, and one person was arrested in connection with the seizure.
March 29, 2026
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Trade agreement negotiations advance as India discusses Canada, UK, EU and New Zealand economic cooperation priorities.
India and Canada discussed expediting negotiations for a comprehensive economic partnership agreement, alongside cooperation in high-tech sectors, clean energy transition, nuclear energy, agriculture, and critical minerals. India and the United Kingdom reviewed implementation of the comprehensive economic and trade agreement, with both sides completing their respective approval processes and looking forward to its entry into force. India and the European Union reviewed progress on the recently concluded free trade agreement, while India and New Zealand discussed preparations for the prime minister's upcoming visit.
March 29, 2026
Show AI Summary
Strait of Hormuz shipping disruption eases as Indian LPG tankers safely transit and support domestic fuel supply.
Safe transit of Indian-flagged LPG tankers through the Strait of Hormuz has been maintained despite conflict-related disruption to shipping in the region. The passage of additional carriers, together with earlier arrivals of LPG, crude oil and gasoline vessels, has helped support India's fuel supply chain at a time when the country depends heavily on imported LPG for domestic cooking gas demand. Continued maritime monitoring, coordination for vessels remaining in the western Persian Gulf, and repatriation of Indian seafarers have also been facilitated.
March 29, 2026
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Jet fuel taxation relief is being explored to ease airline operating costs amid West Asia conflict pressures.
Measures are being explored to reduce the impact of the West Asia conflict on airlines, including discussions with state governments on lowering taxes on jet fuel. Airlines are facing higher operating costs because of surging oil prices, airspace curbs, and longer flight routes, with aviation turbine fuel forming a substantial part of total expenses and value added tax on such fuel varying across states.
March 29, 2026
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Tea land transfer concerns prompt calls for clear guidelines, labour law harmonisation, and protection of industry liabilities.
Tea planters' body has sought clear guidelines before implementation of the amended law for transfer of housing line land to tea garden workers, citing administrative, financial and legal complications where land is mortgaged and labour quarters are company-built assets. It has also pointed to continuing management responsibility for housing and welfare amenities under labour law, urged full recognition of in-kind benefits for wage computation, requested release of pending subsidy payments, and called for policy support, market diversification, quality control, and a minimum sustainable price for made tea.
March 28, 2026
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National unity and aviation expansion drive highlighted as leaders urge restraint amid global crises and promote regional growth.
Prime Minister urged unity and restraint in responding to global crises, warning political parties against divisive remarks that may harm national interests. He linked the inauguration of Noida International Airport, its cargo terminal and MRO facility to a broader push for connectivity, regional growth and lower travel costs. The address also highlighted aviation expansion, the UDAN scheme, logistics development, transport infrastructure and self-reliance in the MRO sector.
March 28, 2026
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Aviation and infrastructure policy drive regional growth, affordable travel, domestic maintenance capacity and reduced import dependence.
Government policy on aviation, infrastructure and energy is presented as part of a broader strategy to advance economic development, improve citizen convenience and strengthen national resilience amid global disruption. The address emphasised safeguarding the interests of families and farmers, reducing costs and saving time, while maintaining calm and unity during external crises. It also highlighted the inauguration of Noida International Airport as a transport and logistics hub, the expansion of the UDAN scheme, development of domestic maintenance, repair and overhaul capacity, and ethanol blending as a measure to reduce crude oil imports and foreign exchange outgo.

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News and Press Release

GeM Celebrates Seven Years of SWAYATT Initiative to Promote Inclusive Public Procurement.

March 6, 2026

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SWAYATT Expands Access to Government Procurement for Startups, Women Entrepreneurs and SHGs through GeM

Women Entrepreneurs Register ₹83,323 Crore Orders on GeM; Startups Cross ₹54,000 Crore under SWAYATT

Government e-Marketplace (GeM) today celebrated the seven-year journey of its flagship initiative, SWAYATT – Startups, Women and Youth Advantage through e-Transactions – reaffirming its commitment to making public procurement more inclusive for startups, women entrepreneurs and youth across India.

Launched on 19 February 2019, SWAYATT was conceptualised with the vision of democratising government procurement by enabling startups, women entrepreneurs, youth, Micro and Small Enterprises (MSEs), Self Help Groups (SHGs) and last-mile sellers to directly participate in the public procurement ecosystem through Government e-Marketplace.

Rooted in GeM’s foundational pillar of social inclusion, SWAYATT focuses on addressing three critical challenges often faced by emerging enterprises—access to markets, access to finance and access to value addition. By leveraging the digital procurement infrastructure of GeM, the initiative enables enterprises from across the country to connect directly with government buyers, thereby reducing barriers to entry and expanding opportunities.

The commemorative programme marking the seven-year journey of SWAYATT was organised at the GeM office, bringing together policymakers, startup founders, women entrepreneurs and ecosystem partners to reflect on the initiative’s impact and future roadmap.

The programme began with a perspective on SWAYATT by Additional CEO, GeM, Shri Ajit B. Chavan. The event also featured special addresses by distinguished guests including Co-Founder and Director, NEDAR Foundation, Shri K. V. Rajendran; Director, Ministry of Micro, Small and Medium Enterprises, Shri Md. Salik Parwaiz; and Deputy Director, Department for Promotion of Industry and Internal Trade, Shri Md. Alam Ansari.

Entrepreneurs from across sectors also shared their experiences of participating in public procurement through GeM. Founder, Club First Robotics, Smt. Neelima Mishra, and Founder, Surprise Someone, Ms. Pinky Maheshwari highlighted how GeM has enabled their enterprises to access government markets and scale their businesses.

A short film capturing the seven-year journey of SWAYATT was also screened, showcasing how the initiative has expanded opportunities for startups, women entrepreneurs and youth across the country.

Delivering the keynote address, CEO, GeM, Shri Mihir Kumar said that SWAYATT embodies GeM’s vision of making public procurement more inclusive by enabling startups, women entrepreneurs and youth to access government markets directly. He noted that by leveraging digital technology and partnerships across the ecosystem, GeM is helping transform emerging enterprises into active participants in the country’s economic growth.

Since its inception, SWAYATT has become a key pillar of GeM’s inclusive public procurement ecosystem, enabling startups, women entrepreneurs and MSEs to access government markets with greater visibility and opportunity. Dedicated storefronts such as Startup Runway and Womaniya further strengthen this ecosystem by enhancing discoverability among lakhs of government buyers across the country.

The initiative’s impact is reflected in the significant growth in participation and transaction value across these seller segments on GeM.

Women entrepreneurs have recorded strong growth on GeM, with cumulative order values rising from ₹1,265.62 crore in FY 2018–19 to ₹83,323 crore by FY 2025–26. During the same period, order volumes increased from 1,01,530 to 44,48,894, reflecting the expanding participation of women-led enterprises in public procurement over the seven-year journey of SWAYATT.

Participation of startups has also witnessed strong momentum on the GeM platform, with cumulative order values increasing from ₹497.24 crore in FY 2018–19 to ₹54,005.8 crore by FY 2025–26. During the same period, order volumes expanded from 17,434 to 5,30,578, highlighting the growing role of startups in public procurement through the SWAYATT initiative.

These outcomes highlight how SWAYATT has enabled emerging enterprises to scale their participation in government procurement through digital access, transparent processes and direct market linkages. Through sustained capacity building and outreach, GeM continues to expand opportunities at the grassroots level.

Over the past seven years, SWAYATT has demonstrated how technology-driven procurement can expand equitable access, truly making the invisible invincible in public procurement.

***

Abhishek Dayal/ Abhijith Narayanan/ Ishita Biswas

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