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March 27, 2026
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Advance Pricing Agreement compliance reporting under Form 52 requires annual online filing with supporting transfer pricing documentation.
Form 52 is the annual compliance report for Advance Pricing Agreements under the Income-tax Act, 2025. It is mandatory for taxpayers with unilateral, bilateral, or multilateral APAs, and must be filed once a year for each year covered by the agreement. The report is filed online through the Income Tax e-Filing portal, cannot be edited after submission, and must be supported by APA documents explaining transfer pricing methodology, arm's length price computation, and compliance with critical assumptions.
March 27, 2026
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Advance Pricing Agreement application form streamlines transfer pricing disclosures, rollback requests, and electronic filing requirements
Form 51 is the application form for an Advance Pricing Agreement under the Income-tax framework and is used for both forward-looking APA requests and rollback requests where permitted. It consolidates the earlier separate application formats and is filed electronically under the prescribed rules to the competent tax authority. The form requires extensive disclosure on the applicant, associated enterprise, covered transactions, business structure, financials, transfer pricing background, relevant agreements, and transfer pricing methodology.
March 27, 2026
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Advance Pricing Agreement filing form streamlines transfer pricing applications, rollback requests, and online compliance requirements.
Form 51 is the prescribed application for an Advance Pricing Agreement under the Income-tax Act, 2025, covering international transactions and specified domestic transactions for a specified period. It may be filed by a person who has entered into, or is contemplating entering into, international transactions with an associated enterprise, including eligible rollback applicants. The form must be filed online, with a valid PAN and proof of payment, and cannot be edited after submission and acknowledgment, except through the prescribed defect or amendment procedure. Supporting documents include financial statements and relevant inter-company agreements.
March 27, 2026
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Advance Pricing Agreement pre-filing consultation form streamlines transfer pricing discussions, electronic filing, and anonymous representation options.
Form FN050 is the income-tax application for a pre-filing consultation in relation to an Advance Pricing Agreement, allowing an eligible person to discuss the proposed transfer pricing methodology for international transactions before formal APA filing. The form requires details of the applicant, the type of APA proposed, the transactions to be covered, and the relevant tax years, with annexures covering group structure, business model, functional profile, transfer pricing audit history, and other international transactions. It is filed electronically, assigned to an APA team, and taken up for consultation, with the Indian competent authority associated in bilateral or multilateral cases.
March 27, 2026
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Advance Pricing Agreement pre-filing meeting form guides optional online application for transfer pricing discussions.
Form 50 is the prescribed income-tax application for requesting a pre-filing meeting in connection with an Advance Pricing Agreement under the transfer pricing framework. It is optional and available to a taxpayer intending to enter into an APA, enabling the taxpayer to place its proposed transfer pricing methodology before the tax authority before making a formal APA application. The form may be filed before undertaking the international transaction, only once in a year, and online only through the Income Tax e-Filing portal.
March 27, 2026
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RERA enforcement and insolvency accountability need overhaul to protect homebuyers from stalled projects and blocked ownership.
Stricter enforcement of RERA and insolvency law is sought to address homebuyers left without possession or legal title despite paying builders in full. The proposed reform emphasis includes attachment of a builder's personal assets on declaration of insolvency and the imposition of strict punishment after proper investigation. Concern is also expressed that delays within RERA allow default disputes to continue indefinitely, defeating the purpose of the regulatory regime.
March 27, 2026
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Excise duty relief and export levies aim to shield fuel consumers and secure domestic supply amid global oil-price volatility.
Excise duty on petrol and diesel has been reduced to cushion domestic consumers against the rise in global crude oil prices and the resulting pressure on fuel costs. The special additional excise duty on petrol has been cut and the corresponding levy on diesel has been removed, while export duties have been reintroduced on diesel and aviation turbine fuel to preserve domestic availability of these products. The measure applies to diesel and aviation turbine fuel, but no windfall tax has been imposed on domestic crude oil producers.
March 27, 2026
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Safe harbour filing requirements under Form 49 cover eligible transactions, due dates, disclosures, and accountant certification.
Safe harbour option under Form No. 49 is to be exercised by an eligible assessee by furnishing the merged and simplified form on or before the due date. The form replaces the erstwhile Forms 3CEFA, 3CEFB and 3CEFC and is used to furnish particulars relating to eligible international transactions, eligible specified domestic transactions and eligible business for the relevant tax year. Different filing timelines apply depending on the nature of the transaction, including a special filing window for provision of information technology services and a due-date-linked filing requirement for other cases.
March 27, 2026
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Safe Harbour compliance through Form No. 49 now consolidates transaction disclosures, eligibility conditions, and online filing requirements.
Form No. 49 is the electronic application for opting for Safe Harbour under the Income-tax Act, 2025 and the Income-tax Rules, 2026. It merges the earlier Forms 3CEFA, 3CEFB and 3CEFC into a single smart e-form for eligible international transactions, eligible specified domestic transactions and eligible business. The FAQs state that filing is mandatory only for assessees intending to opt for Safe Harbour, it must be filed online through the e-filing portal, and it requires disclosure of associated enterprises, transaction-specific details, supporting documents, accountant reports, and prescribed e-verification.
March 27, 2026
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Transfer pricing reporting requires structured transaction-wise disclosure, arm's length price details, and accountant certification under Form 48.
Form No. 48 requires an accountant's report to be furnished under the Income-tax Act, 2025 for international transactions and specified domestic transactions with associated enterprises. The form is filed annually by the prescribed due date and uses a structured, transaction-wise format covering the assessee's particulars, associated enterprises or persons, transaction details, advance pricing agreement information, arm's length price determination, and any adjustment. Part F contains the accountant's certification of maintenance of the required information and documents.
March 27, 2026
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Form No. 48 reporting rules for international and specified domestic transactions, online filing, PAN requirement, and arm's length pricing.
Form No. 48 is the mandatory accountant's report for international transactions and specified domestic transactions under section 172 of the Income-tax Act, 2025. It must be filed annually, only online through the Income Tax e-Filing portal, and requires a valid PAN. The form contains six parts covering assessee details, transaction aggregates, international and specified domestic transaction particulars, arm's length price computation, and threshold-based reporting. The FAQs also explain transaction identifiers, relationship coding, aggregation treatment, arm's length price auto-population, and the computation rules for transfer pricing methods.
March 27, 2026
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Excise duty cut on petrol and diesel eases fuel cost pressure amid rising global crude prices.
Excise duty on petrol has been reduced and diesel has been exempted from the levy with immediate effect to cushion consumers and fuel retailers from the impact of rising global crude prices. The notification lowers the duty on petrol and brings the diesel duty to nil, reflecting a policy response to volatility in international oil markets and the strain created by unchanged retail pump prices. The duty reduction is intended to provide headroom to fuel retailers by easing input-cost pressure and supporting price stability in the domestic market.
March 27, 2026
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Energy security and import dependence drive debate as fuel supply assurances counter claims of shortages and misinformation
Rising dependence on crude oil, LPG and natural gas imports is presented as an energy-security concern, alongside criticism that the promised push toward self-reliance has not been realised. The discussion also refers to earlier claims about a major gas discovery in the Krishna-Godavari basin and allegations that later audit reports treated the episode as a large-scale irregularity. Government and oil marketing companies, however, state that petrol, diesel and LPG supplies remain stable and adequately stocked.
March 27, 2026
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Excise duty cut on petrol and diesel aims to ease pressure on fuel retailers amid rising global crude prices.
Excise duty on petrol has been reduced to Rs 3 a litre from Rs 13 a litre, while excise duty on diesel has been reduced to nil from Rs 10 a litre, with immediate effect. The duty cuts are intended to ease pressure on oil marketing companies facing elevated global crude prices and frozen retail fuel prices amid geopolitical disruption in oil markets.
March 26, 2026
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WTO dispute settlement and e-commerce duty moratorium face renewed calls for reform and careful reconsideration.
A dysfunctional WTO dispute settlement system is described as having deprived members of effective redressal, and restoration of an automatic and binding dispute settlement mechanism is called for. Careful reconsideration of the continued extension of the moratorium on customs duties on electronic transmissions is urged because its scope remains unsettled and may have significant revenue implications. WTO reform is presented as needing to be transparent, inclusive and member-driven, anchored in development, non-discrimination, consensus-based decision-making, equity and effective special and differential treatment.
March 26, 2026
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Transatlantic trade safeguards shape EU approval of the US deal, allowing suspension if the agreement is undermined.
European lawmakers approved the transatlantic trade agreement with safeguard amendments that permit suspension if the United States undermines the deal, discriminates against EU economic operators, threatens territorial integrity or foreign and defence policies, or engages in economic coercion. The agreement retains a 15 per cent tariff on most goods and proceeds to further negotiation between EU and US trade representatives, with the added language intended to preserve European interests and provide greater certainty for businesses.
March 26, 2026
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Accountant certificate filing for international and specified domestic transactions must follow the prescribed online process and timeline.
Form No. 47 is the accountant's certificate for international transactions or specified domestic transactions meeting the conditions in rule 82(5). It is to be furnished with Form No. 46 within the prescribed filing window, beginning from the end of the third tax year and ending on 30 June following that year. The form can be submitted only online through the Income Tax e-Filing portal, and no supporting documents are required.
March 26, 2026
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Arm's length price option filing through Forms 46 and 47 under rule 82 for multiple-year determination.
Rule 82 prescribes Form No. 46 and Form No. 47 for exercise of the option for determination of arm's length price under section 166(9) of the Income-tax Act, 2025. Form No. 46 is furnished by an assessee for determining arm's length price in respect of international transactions or specified domestic transactions for multiple years in a single proceeding, covering the second and third tax years immediately following the first tax year in which reference has been made under section 166. Form No. 47 is the accompanying accountant's certificate.
March 26, 2026
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Arm's length price option through Form No. 46 covers multiple years, online filing, and accountant certification.
Exercise of option for determination of arm's length price under section 166(9) is made through Form No. 46 for international transactions or specified domestic transactions for multiple years in a single proceeding. The option covers the second and third tax years immediately following the first tax year in which a reference has been made under section 166. Form No. 46 must be filed between the end of the third tax year and 30 June following that year, only online through the Income Tax e-Filing portal, and accompanied by the accountant's certificate in Form No. 47.
March 26, 2026
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Foreign tax credit filing rules for Form 44 require resident assessees to report foreign income, refunds, and supporting documents.
Form No. 44 is required for a resident assessee claiming foreign tax credit under Rule 76 or intimating refund of foreign tax arising from carry backward of loss, revision of return, or similar changes. It must generally be filed within 12 months from the end of the relevant tax year, or by the date of furnishing an updated return where applicable. The form covers particulars of the person, foreign income and credit claimed, and any refund of foreign tax, and must be supported by documents on income, foreign tax paid, disputes, and refund particulars. Filing is made through the e-filing portal with e-verification, and accountant verification applies in specified cases.

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WeBank Wins Four Awards from The Asian Banker, Gaining International Recognition for its Digital Inclusive Finance Practices

March 16, 2026

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SHANGHAI, March 16, 2026 /PRNewswire/ -- At The Asian Banker "Global Excellence In Retail Finance Awards Ceremony And Gala Dinner 2026"on 12 March, WeBank received four major awards in recognition of its technological innovation and inclusive finance capabilities. The Bank once again retained the titles of "Best Digital Bank in Asia Pacific"and "Best Digital Bank in China". It also secured two additional awards for the first time: "Best SME Bank in China (Digital Bank) "and "Best Customer Experience Initiative in Asia Pacific" for its Weilidai sign-language customer service initiative. WeBank Wins Four Awards from The Asian Banker The Asian Banker Excellence Award Programme is widely regarded as one of the most authoritative awards in the global financial industry, with assessment standards that align with the highest international benchmarks. Renowned for its professionalism, impartial and rigorous judging process, and broad industry coverage, the programme is consistently recognised by financial institutions and research bodies alike. It attracts extensive participation from banks and fintech platforms across the Asia Pacific region, and its influence now extends well beyond the region to financial markets worldwide.

Seven Consecutive Years of "Best in Asia Pacific": Demonstrating Digital Banking Excellence Over the past decade, digital banking has expanded rapidly worldwide. The number of licensed digital banks has surged from 48 in 2014 to more than 400 today, driven by flexible, efficient technological frameworks and innovative service models. These institutions have increasingly moved beyond the constraints of traditional financial services, establishing a distinctive path for digital-inclusive development.

As China's first digital bank, WeBank has placed technology at the centre of its strategy, and through its innovative business practices has positioned itself as a widely recognised global leader in digital banking.Leveraging its technological strengths, the Bank continues to broaden and deepen inclusive finance, addressing the financing challenges faced by small and micro enterprises, self-employed businesses and individual customers. As of the end of 2025, WeBank had served more than 430 million individual customers and over 7 million small and micro enterprises, using technology to bridge the "last mile" in inclusive financial services.

AI is reshaping the global financial sector. In response, WeBank took the lead in 2025 by advancing its "AI-native Bank"strategy, placing itself at the forefront at the next phase of technological transformation. The Bank has strengthened its AI foundation across infrastructure, toolchain development and diversified application frameworks, while deepening integration of AI across all business scenarios. This included reshaping organisational structures and governance systems to support a shift from a "digital-native" to an "AI-native" operating model. Powered by AI, WeBank is driving end-to-end business transformation and setting the direction for the future of digital banking. The Bank has already deployed more than 100 AI application scenarios, supported by over 800 AI agents and more than 60 digital employees. These capabilities underpin a full-process upgrade of financial services, improving operational efficiency, enhancing risk management and optimising customer experience.

At the awards ceremony, WeBank was recognized for its outstanding digital banking capabilities, retaining the titles of "Best Digital Bank in Asia Pacific" and "Best Digital Bank in China". This marks the Bank's seventh consecutive win of the Asia-Pacific award and its eighth win of the China accolade, prestigious international distinctions that underscore its leading position in the digital banking sector.

The Asian Banker noted that, underpinned by its leading digital technology capabilities, WeBank has developed a distinctive and differentiated model for inclusive financial services, establishing a commercially sustainable approach to digital inclusion. This model enables a broader segment of small and micro enterprises, as well as individual customers, to access financial services on an equal footing, supporting the high-quality development of inclusive finance.

Finance for Good, Staying True to Its Original Mission: Inclusive Finance and Warmth Gain International Recognition During the panel, WeBank's strong track record in serving micro, small and medium-sized enterprises (MSMEs) and its commitment to barrier-free innovation received high recognition during the selection, earning two major awards for the first time: "Best SME Bank in China (Digital Bank)" and "Best Customer Experience Initiative in Asia Pacific" for its Weilidai sign-language customer service project.

Small and micro enterprises are the capillaries of the real economy and core beneficiaries of inclusive finance. Since launching China's first digital, unsecured working-capital business loan product "Weiyedai" in 2017, WeBank has continued to explore a commercially sustainable model for digital inclusive finance. By leveraging technology to address the "short, small, frequent and urgent" funding needs that often constrain micro and small enterprises, the Bank has broadened access to timely, affordable credit and strengthened support for the real economy.

As of the end of 2025, Weiyedai had covered 30 provincial administrative regions in China, received more than 7 million applications from MSMEs and sole proprietors, and provided credit services to more than 1.8 million clients for a total amount of RMB 1.8 trillion. The Asian Banker noted that these results reflect WeBank's ability to harness digital technology to allocate financial resources with precision and efficiency, enabling countless micro and small enterprises across diverse industries to access timely funding.

Technology provides the engine, but WeBank aims to ensure the experience remains distinctly human. Guided by its mission of "Better Banking for All", WeBank embeds a customer-centric philosophy throughout its service model and actively advances accessibility in financial services. As early as 2015, WeBank established a dedicated accessibility task force, launched remote video identity verification for "Weilidai", and appointed full-time sign-language specialists to support customers with hearing impairments, ensuring they receive fast, convenient and secure financial services. "Weilidai" became the first bank-affiliated financial product in the industry to offer sign-language video customer service. To date, it has issued more than 265,000 loans to customers with hearing impairments, amounting to over RMB 1.17 billion.

Winning four major awards this year reflects strong international recognition of WeBank's achievements in technological innovation, inclusive finance and customer service. It also underscores the Bank's contributions to the wider community. Looking ahead, WeBank will continue to use technology as its core growth engine and inclusiveness as its guiding principle, further deepening financial innovation, enhancing service quality and efficiency, and providing sustained financial momentum to support the high-quality development of the real economy.

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

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