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News
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March 25, 2026
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Skill development project approval through Form 22 requires online filing, verified disclosures, and compliance with prescribed conditions.
Form 22 is the prescribed income-tax application for an eligible company seeking approval of a skill development project under Section 47(1)(b) of the Income-tax Act, 2025, read with Rule 39. The form is filed before commencement of the project through the e-filing portal and requires disclosure of the project structure, training institute particulars, proposed expenditure, supporting documents, and compliance details. It is verified by DSC or EVC, and defects must be rectified within the prescribed time or the application may be treated as invalid.
March 25, 2026
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Agricultural extension project notification under Form 21 requires approval, compliance, renewal, and revocation safeguards.
Form 21 is the notification instrument issued by the Central Board of Direct Taxes for an approved Agricultural Extension Project under Section 47(1)(a) of the Income-tax Act, 2025 read with Rule 37. It is issued after examination of Form 20, records the project particulars, approved tax years, expected expenditure, and notification conditions, and is authenticated by signature and Official Gazette publication. The notification remains valid for up to three Tax Years, is subject to compliance and renewal requirements, and may be revoked for cessation, non-genuine activities, or breach of approval conditions.
March 25, 2026
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Facilitative tax and customs reform measures in the Finance Bill 2026 aim to ease compliance, support MSMEs, and promote trade.
The Finance Bill 2026 is described as a set of facilitative tax and customs measures centred on trust-based tax administration, ease of living, MSME support, trade facilitation and customs reform. The measures highlighted include lower tax collected at source on certain foreign remittances and overseas tour packages, customs duty exemption on critical drugs, duty-free import treatment for medicines and personal use articles, permission to file updated income-tax returns after reassessment proceedings begin, and a foreign asset disclosure scheme for small taxpayers. The Bill also seeks to reduce compliance burden and dispute potential through customs rationalisation and facilitation-first enforcement.
March 25, 2026
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Pan-Asian dining expansion marks P.F. Chang's Tricity debut with a Mohali restaurant and signature wok-first menu.
P.F. Chang's expands its India footprint by opening its first restaurant in Mohali at HLP Gallerria, marking its Tricity debut and eighth outlet in the country. The launch is part of the brand's North India growth strategy and extends its presence beyond metro locations. The Mohali restaurant highlights the brand's wok-first cooking, scratch-made sauces, signature Pan-Asian dishes, and menu options tailored for Indian diners, including vegetarian and Jain selections, alongside MSG-free preparation and a premium casual dining experience.
March 25, 2026
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Agricultural extension project notification under income-tax rules sets approval conditions, duration limits, and compliance requirements for tax benefits.
Form 21 is the prescribed income-tax notification form for an approved agricultural extension project under Section 47(1)(a) of the Income-tax Act, 2025, issued after approval under Rule 37 and published in the Official Gazette. It notifies the project, specifies the approved tax year(s), and sets out the terms, conditions, duration, expenditure limits, and beneficiary charges. The form records the applicant's particulars, project purpose, commencement date, approved period, estimated expenditure, and other conditions attached to approval.
March 25, 2026
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Agricultural Extension Project approval requires Form 20 filing, prior Ministry clearance, and electronic verification before commencement.
Form 20 is the prescribed income-tax application for approval of an Agricultural Extension Project under Section 47(1)(a) read with Rule 37. It must be filed electronically before commencement of the project and before seeking notification, with prior Ministry of Agriculture approval and compliance with Rule 37 conditions. The form requires applicant and project particulars, supporting documents, and verification through DSC or EVC. Defects must be rectified within one month, approval is notified in Form 21 and published in the Official Gazette, and it remains valid for up to three tax years.
March 25, 2026
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Electricity tariff stability keeps consumer burden unchanged while supporting farmers, households, industry, and power sector efficiency.
The Andhra Pradesh Electricity Regulatory Commission approved a tariff order for FY2026-27 keeping electricity tariffs unchanged across consumer categories, while also undertaking true-up/down and performance review of the distribution companies for FY2024-25 after public consultation. The order records a lower approved revenue gap than projected by the distribution companies and provides for full Government support of the approved gap, with the effect that consumers are not subjected to tariff increase or additional true-up burden.
March 25, 2026
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Personal loan interest rates shape EMI burden, repayment costs, and borrowing decisions for salaried individuals.
Interest rates are a primary determinant of the affordability of personal loans for salaried borrowers, directly affecting monthly EMI outgo, total repayment burden and overall budget planning. Even small differences in the rate can materially alter long-term repayment commitments, making comparison of rates and related charges an important step before borrowing. The rate offered to a salaried borrower is described as dependent on credit score, repayment history, monthly income, job stability, existing financial obligations and employer profile.
March 25, 2026
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Unpaid caregiving work shows a clear gender gap in Time Use Survey 2024, with women participating more and spending more time.
Time Use Survey 2024 measures participation in paid and unpaid activities and reports unpaid caregiving for household members among persons aged 15 to 59 years. It compares Time Use Survey 2024 with Time Use Survey 2019, noting differences in participation rates and average daily time spent on caregiving by men and women. The release highlights that women participate more in unpaid caregiving and spend more time on it than men.
March 25, 2026
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Infrastructure project monitoring through PAIMANA, integrated dashboards, and escalation-based review to reduce delays and improve execution.
MoSPI monitors ongoing Central Sector infrastructure projects costing Rs. 150 crore and above through PAIMANA, a web-based monitoring system integrated with DPIIT's portal under the principle of One Data One Entry. The platform automatically fetches project data, reduces manual entry, supports evidence-based monitoring, and provides customized dashboards, monthly reviews, and analytics for stakeholders. Delay-mitigation measures also include PRAGATI reviews and DPIIT's Project Monitoring Group, which uses milestone-based monitoring and a 5-tier escalation framework for issue resolution and fast-tracking of approvals and clearances.
March 25, 2026
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International trade law and WTO dispute settlement shaped CTIL's support for a regional moot court competition.
CTIL supported the 24th edition of the John H. Jackson Moot Court Competition as a Platinum Sponsor for the West and South Asia regional round. The event focused on international trade law, WTO law and dispute settlement, with CTIL research staff serving as judges and CTIL presenting its work in trade and investment law, capacity-building programmes and policy discourse.
March 25, 2026
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Agricultural extension project approval governs online filing, verification, and compliance for tax-benefit eligibility under the income-tax framework.
Form 20 is the prescribed income-tax application for approval of an agricultural extension project under Section 47(1)(a) of the Income-tax Act, 2025 read with Rule 37. It is used by an assessee seeking approval for a project undertaken for training, education and guidance of farmers, with prior approval from the Ministry of Agriculture and Farmers Welfare and expected expenditure, excluding land and building, exceeding the specified threshold. The form serves to secure approval-related tax benefits and to furnish structured disclosure of the project, expenditure estimates, beneficiary details, compliance history and prior approvals.
March 25, 2026
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Specified business notification for semiconductor wafer fabrication units through Form 19 and electronic filing requirements.
Form 19 is prescribed for an application seeking notification of a semiconductor wafer fabrication manufacturing unit as a specified business under the Income-tax law. It is used by an assessee carrying on, or proposing to carry on, semiconductor wafer fabrication manufacturing, and the application captures particulars of the assessee, the unit, and fulfilment of prescribed conditions to enable verification of eligibility for notification. The completed form, together with supporting approval documents where applicable, is filed electronically and examined for compliance with the statutory and rule-based requirements.
March 25, 2026
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Insolvency resolution delays and tribunal capacity constraints dominate debate on insolvency law amendments.
Debate on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 highlighted concerns that insolvency resolution and liquidation suffer from delay, value deterioration and low recoveries. Opposition members said limited capacity of the National Company Law Tribunal hampers timely disposal of cases and weakens the resolution framework, while also criticising the insolvency ecosystem for facilitating stripping of corporate assets. The discussion noted efforts to address timelines, capacity constraints and creditor recovery through the select committee report.
March 25, 2026
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Semiconductor wafer fabrication notification governs specified business status, mandatory filing, and tax benefits under the prescribed form.
Form 19 is the prescribed application for notification of a semiconductor wafer fabrication manufacturing unit as a specified business under section 46 of the Income-tax Act, 2025. It is required for assessee carrying on or proposing to carry on semiconductor wafer fabrication activity and is mandatory for claiming the associated tax benefits. The form seeks particulars of the assessee, the specified business, the proposed unit, commencement details, prescribed approvals, and confirmation that the unit is exclusively for semiconductor wafer fabrication, located in India, and operating under the required conditions.
March 25, 2026
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Specified business notification for affordable housing projects requires electronic filing, supporting documents, and compliance verification.
Form 18 is the prescribed application for notification of an affordable housing project as a specified business under section 46. It is required to be furnished electronically by an assessee seeking such notification and captures particulars of the assessee, the specified business, the proposed project, and compliance with prescribed conditions. Supporting documents such as the development agreement, sanction letter, and layout approval are attached to assist verification. The application is examined for compliance before notification may be granted.
March 25, 2026
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Affordable housing project notification through Form 18 is mandatory for claiming tax benefits under the specified business regime.
Form 18 is the prescribed application for notification of an affordable housing project as a specified business under section 46 of the Income-tax Act, 2025, and filing it is mandatory for availing the tax benefits available under that provision. The form requires the assessee to furnish particulars of the assessee, the specified business, the proposed project, compliance with prescribed conditions, and other project-related details, including project location, unit-wise area particulars, investment, title to land, development agreements, and a declaration certifying correctness of the information furnished.
March 25, 2026
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Approval for research-linked income-tax benefits through Form No. 17 requires detailed filing, verification, and ongoing annual compliance.
Form No. 17 is the prescribed electronic application for an Indian company and for a research association, university, college or other institution seeking approval under the relevant income-tax framework. It requires verified filing within the prescribed time, detailed particulars of the applicant, research activities, income, expenditure, donations, and supporting documents. The prescribed authority may issue a deficiency notice, and after approval the entity must furnish annual research-related compliance details.
March 25, 2026
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Form No. 17 approval applications require detailed disclosures, electronic filing, and ongoing compliance for research-related tax recognition.
Form No. 17 is the prescribed electronic application for approval under section 45(3)(b) for a company and section 45(4)(b) for a research association, university, college or other institution. The form requires disclosure of incorporation details, key persons, beneficial owners, registrations, research facilities, research projects, income and expenditure, together with prescribed enclosures and declarations. Approval remains subject to maintenance of books, audit and reporting obligations, compliance with conditions of approval, and the possibility of withdrawal if activities cease, become non-genuine, or are not carried out as required.
March 25, 2026
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Scientific research donation certificates streamline deduction verification through annual donor-wise reporting, Form 16 linkage, and corrected issuance.
Form 16 serves as the annual donor-wise certificate for contributions made to prescribed institutions for scientific research and is used to support verification of deductions claimed under the Income-tax Act, 2025. The certificate records aggregate donations received during the tax year, is not a receipt for individual transactions, and operates separately from transaction-level acknowledgments issued by the institution. It is linked to Form 15, must be issued once in each tax year on or before 31 May, and may be corrected if errors are found.

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Customs & Trade

AAHAR 2026 inaugurated at Bharat Mandapam; Shri Piyush Goyal calls for stronger collaboration to position India as a global leader in agricultural and processed food exports

March 11, 2026

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At the inauguration of the 40th edition of AAHAR – The International Food & Hospitality Fair, the Minister highlighted India’s food and agricultural exports at nearly ₹5 lakh crore annually and outlined how FTAs are expanding market access while safeguarding farmers, fishermen and MSMEs.

New Delhi | 11 March 2026: The 40th edition of AAHAR – The International Food & Hospitality Fair was inaugurated today at Bharat Mandapam, New Delhi, with a clear message for the ecosystem: India’s next leap in global leadership will be built through collaboration across food, agriculture and hospitality, backed by stronger value addition and market linkages.

Addressing the gathering at the inauguration, Union Minister of Commerce & Industry Shri Piyush Goyal called upon stakeholders to work collectively towards making India the world’s largest exporter of agricultural and processed foods, citing the opportunities created by India’s expanding trade agreements and the growing global demand for Indian products.

Shri Goyal said India’s exports of food and agricultural products—including farm produce and fisheries—have reached nearly ₹5 lakh crore (over USD 55 billion) annually, making the country the seventh largest exporter of agricultural produce globally. He further noted that over the past eleven years (2014–2025), India’s agri and food exports have witnessed significant growth: processed foods have increased fourfold, fruit and pulses exports have tripled, processed vegetable exports have quadrupled, cocoa exports have tripled, and cereal exports have doubled—with rice exports growing by 62% during this period.

The Minister said these achievements should inspire India to aspire for the top position globally in agricultural and processed food exports, aligning with the Prime Minister’s vision that India should become the “food basket of the world.” He added that the nine Free Trade Agreements concluded over the past three and a half years have opened access to 38 developed and prosperous countries, and that India now has preferential market access covering nearly two-thirds of global trade—strengthening India’s position as an investment destination and enabling businesses to integrate into global value chains.

At the same time, Shri Goyal underlined that India’s trade negotiations have carefully safeguarded domestic interests—especially those of farmers, fishermen and MSMEs. He said sensitive sectors such as dairy have been protected, with no concessions to foreign producers, and that genetically modified (GM) products have not been granted duty concessions or market access. He further clarified that key commodities such as rice, wheat, maize, soy meal and several varieties of pulses have been protected, and that concessions in sugar have generally not been extended to prevent imports that could adversely affect domestic producers.

Shri Goyal encouraged farmers and entrepreneurs to take advantage of the ₹1 lakh crore Agriculture Infrastructure Fund, and to focus on food processing and value addition to access higher-value global markets, noting that an increasing number of small enterprises are entering the food processing sector and creating avenues for growth and employment.

International partnership formed another key note at the inauguration. Shri Goyal welcomed Italy as the partner country for the 40th edition and said India should learn from best practices in Italy’s food and hospitality sector while building collaborations with Italian companies—steps that can help promote Indian cuisine, expand the global taste for Indian products and strengthen trade linkages. He also pointed to opportunities arising from India’s agreements and partnerships with multiple regions and country groupings, and noted that negotiations with Canada are progressing while discussions with the six-nation GCC group have recently been launched.

From the organiser’s perspective, today’s inauguration also marked the introduction of several new visitor- and exhibitor-facing enhancements at the venue. In his address, CHAIRMAN, ITPO, Jawed Ashraf spoke about new elements being introduced this year, including Italian chefs conducting masterclasses, a larger culinary art competition, and a hospitality challenge at Bharat Mandapam. He also highlighted improved on-ground experience measures, including air-conditioned food courts, along with other newly introduced amenities.

A key addition for this edition is the official AAHAR digital app, positioned as a comprehensive tool designed to support both visitors and exhibitors with a smoother, more structured experience on-ground. The app has been introduced to enable practical business outcomes through QR-enabled interactions and tools that support discovery and planning, including: • Scan profile QRs and schedule meetings instantly • Exhibitor directory with hall details • Live session updates with My Schedule planner • Easy QR-based navigation across halls • Dedicated Community section for organiser updates • Built-in tutorial and dedicated help support • B2B networking tools for exhibitors to boost visibility Chairman, ITPO, Jawed Ashraf also noted that the edition will host a number of summits and food-based seminars on themes including plant-based food products and other key areas of the hospitality, catering and restaurant sector, along with a leadership summit for the HORECA sector. He further stated that the fair attracts 1,800 participants, including 155 international participants from 17 countries, and that despite global turbulence there has been no cancellation of international participation, which he described as encouraging. He added that the fair is spread across 125,000 square meters, bringing together a vast global community of food and hospitality professionals.

Shri Goyal described the 40th edition of AAHAR as a landmark event for the food and hospitality sector and noted that for the first time AAHAR has a partner country, Italy. He also announced that the exhibition will be opened to the general public on the evening of Friday the 13th and throughout Saturday, allowing visitors—especially young people—to experience the strengths of the food, beverage and hospitality sectors from India and across the world.

Concluding his address, Shri Piyush Goyal assured exporters that under the Export Promotion Mission, the Government will provide comprehensive support and handholding, including through the Ministry of Commerce & Industry and the Directorate General of Foreign Trade (DGFT). Chairman, ITPO, Jawed Ashraf extended best wishes to participants, exhibitors and visitors for productive engagement over the next five days.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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