Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
March 30, 2026
Show AI Summary
Proceeds of crime attachment under PMLA prevails over debt recovery laws in tainted asset proceedings.
Attachment of proceeds of crime under the Prevention of Money Laundering Act was described as prevailing over debt recovery legislation, including the SARFAESI and RDB Acts, where the property is linked to money laundering. The key legal point is that the PMLA operates with overriding effect in relation to attachment proceedings concerning tainted assets, and debt recovery mechanisms do not displace action taken under the anti-money laundering framework.
March 30, 2026
Show AI Summary
Special audit report requirements under income tax law clarified for Form 100, supporting compliance and verification.
Form 100 is the audit report furnished by an Accountant when an assessee is directed to get accounts audited under section 268(5)(i) of the Income-tax Act, 2025. It certifies examination of the books of account and financial statements and records whether the accounts present a true and fair view. The report is filed only on a special audit direction, together with supporting financial statements, books, bank statements, and applicable audit reports, within the period specified by the Assessing Officer.
March 30, 2026
Show AI Summary
ESG performance and sustainability leadership drive YES BANK's top ranking in S&P Global's banking assessment.
YES BANK reported improved ESG performance under the S&P Global Corporate Sustainability Assessment 2025, with a score of 79 out of 100 and recognition as India's highest-rated bank in the assessment. The bank stated that this result marked its fourth consecutive inclusion in the S&P Global Sustainability Yearbook and placed it among the top 15% of global banking leaders, based on evaluation across climate strategy, operational eco-efficiency, financial inclusion, human capital development, human rights, corporate governance, and risk management.
March 30, 2026
Show AI Summary
RBI foreign exchange restrictions and weak crude-linked sentiment deepen pressure on equities and banking stocks.
Indian equity markets ended sharply lower amid escalating geopolitical tensions in West Asia, higher crude oil prices, weak global cues, and continued foreign fund outflows. Banking stocks faced additional pressure after RBI restrictions on banks' foreign exchange positions aimed at stabilising the rupee, while market participants flagged oil-price volatility and rupee weakness as risks to input costs and near-term earnings revisions.
March 30, 2026
Show AI Summary
Special audit report filing under Form 100 requires accountant certification, supporting records, and online submission compliance.
Form 100 is the audit report to be furnished by an Accountant when the Assessing Officer directs a special audit under section 268(5)(i). It certifies examination of the assessee's accounts and their true and fair view, and is filed only for the tax year in which the direction is issued. The form requires signed verification, supporting financial and accounting records, and submission through the e-filing portal with annexures and documents. The revised form aligns with the Income-tax Act, 2025 and uses simplified tabular reporting.
March 30, 2026
Show AI Summary
Income-tax rate changes and procedural reforms reshape reassessment, penalties, tax credits, and indirect tax schedules in the finance bill.
Finance Bill, 2026 gives effect to the Central Government's financial proposals for the financial year 2026-2027 and operates as the Finance Act, 2026 with specified commencement dates. It revises income-tax rates, surcharge structures and health and education cess, and makes extensive amendments to the Income-tax Act, 1961 and the Income-tax Act, 2025 covering reassessment, return filing, assessment timelines, interest, penalty, waiver, immunity, tax credits, deductions, and related procedural rules. The Bill also updates indirect tax provisions, including customs, customs tariff and GST-linked schedule entries, by substituting, inserting and omitting specified rates and classifications.
March 30, 2026
Show AI Summary
Income-tax appeal filing in Form 99 requires electronic submission of facts, grounds, supporting documents and disputed details.
Form No. 99 is prescribed for filing an appeal before the Joint Commissioner of Income-tax (Appeals) or the Commissioner of Income-tax (Appeals) against an appealable order passed by an Income-tax Authority. It is furnished electronically and captures the relevant order, taxes paid, disputed amounts, grounds of appeal, statement of facts, supporting documents and additional evidence, so that the appeal may be registered and processed in the prescribed appellate manner.
March 30, 2026
Show AI Summary
PMLA attachment of proceeds of crime overrides prior secured interests under debt recovery laws in property disputes.
PMLA has an overriding confiscatory framework for attachment of proceeds of crime, and its operation is not displaced merely because the attached property is subject to a prior mortgage or secured interest under debt recovery laws. The court noted that SARFAESI and the Recovery of Debts and Bankruptcy Act serve different objects and cannot prevail over PMLA in attachment proceedings. Where confiscation has been ordered or trial has commenced, claims of legitimate interest in the attached property must be adjudicated by the Special Court.
March 30, 2026
Show AI Summary
Census data confidentiality and land dispute adjudication qualifications shape key legal concerns in recent public interest litigation.
Individual census data is to remain confidential and cannot be used as evidence or to obtain benefits under any government scheme. A public interest petition has also sought a revenue judicial service for land disputes, with minimum legal qualifications and training for public servants adjudicating such matters.
March 30, 2026
Show AI Summary
Electronic appeal filing under Form 99 requires timely submission, tax compliance, verified grounds, and prescribed supporting disclosures.
Form 99 is the prescribed electronic appeal form for filing an appeal before the Joint Commissioner of Income-tax (Appeals) or the Commissioner of Income-tax (Appeals) against an appealable order under the Income-tax Act, 2025. The appeal is optional and must be filed within 30 days from the relevant date. The form requires disclosure of appellant details, order particulars, disputed amounts, pending appeals, grounds of appeal, additional evidence, delay condonation, appeal fees, and supporting documents. Filing is subject to statutory tax-payment conditions, must be electronically filed where return e-filing is mandatory, cannot be revised after verification, and must be verified by the appellant or an authorised person.
March 30, 2026
Show AI Summary
Quarterly non-resident reporting in Form 92 mandates structured electronic filing, annexure declarations, and standardized identity details.
Quarterly reporting in Form 92 requires specified funds and stock brokers dealing with non-resident clients to furnish standardised information under Rule 157 through the Income-tax Department's electronic filing system. The form is submitted quarterly, may include multiple non-residents in one return, and is intended to support monitoring, compliance, verification of residency particulars, and information exchange for cross-border investments. Form 92 uses a structured Part A and Part B format, requires Annexure A-1 declarations from each non-resident, and calls for PAN details of the filer, with no other supporting documents to be uploaded.
March 30, 2026
Show AI Summary
Banking outlet coverage through GIS monitoring expands access in villages under RBI-guided infrastructure planning.
Banking outlet coverage in inhabited villages is monitored through the Jan Dhan Darshak GIS-based application, which tracks bank branches, Business Correspondents and India Post Payments Bank outlets within a five-kilometre radius. On the basis of bank-uploaded data, 99.92% of villages in the country and 100% of villages in Dadra and Nagar Haveli are covered within the prescribed radius. Expansion in uncovered areas is a continuous process under extant RBI guidelines, overseen by the State Level Bankers' Committee or Union Territory Level Bankers' Committee.
March 30, 2026
Show AI Summary
Kisan Credit Card access expands through digital issuance, concessional lending, and stronger grievance redressal for farmers.
Measures supporting the Kisan Credit Card ecosystem focus on expanding credit access, improving digital issuance, and strengthening financial inclusion for farmers, including small and marginal farmers. Priority Sector Lending guidelines and the Ground Level Agriculture Credit target operate as key policy instruments for scaling KCC coverage, with a sub-target for small and marginal farmers and incentive and disincentive frameworks intended to encourage more equitable agricultural credit distribution. The KCC scheme also covers working capital for animal husbandry, dairying and fisheries, while the Modified Interest Subvention Scheme provides concessional short-term agricultural loans through KCC with an additional prompt repayment incentive.
March 30, 2026
Show AI Summary
Priority sector lending supports rural credit flow through agriculture targets, refinance support, and self-help group programmes.
Priority sector lending and related government measures are used to maintain uninterrupted rural credit flow for agriculture, MSMEs and self-help groups. Reserve Bank of India policy requires specified banks to allocate at least 18% of adjusted net bank credit or credit equivalent of off-balance sheet exposures, whichever is higher, to agriculture, with a 10% sub-target for small and marginal farmers. Concessional refinance support and NABARD programmes further assist rural financial institutions, self-help groups and microenterprises.
March 30, 2026
Show AI Summary
Rupee volatility and RBI forex exposure cap reshape market sentiment amid geopolitical tensions and dollar strength.
Rupee volatility in foreign exchange markets intensified amid geopolitical tensions, risk-off sentiment, elevated dollar demand and firmer crude prices, with the currency touching an intra-day low before settling lower against the US dollar. The Reserve Bank of India reduced the net open position that banks may maintain overnight and capped the Net Open Position (NOP-INR) for banks at USD 100 million, with compliance required by 10 April, as part of oversight of banks' foreign exchange exposure.
March 30, 2026
Show AI Summary
Quarterly reporting of non-resident client details through Form 092 requires online filing, declarations, and timely verification.
Quarterly reporting requirements apply to specified funds and stock brokers dealing with non-resident clients under Rule 157. Form 092 is the prescribed quarterly statement for furnishing non-resident client particulars, including name, contact details, country of residence, Tax Identification Number, and, where TIN is unavailable, the unique identification number issued by the foreign jurisdiction. The form must be filed online on the e-Filing portal within 15 days from the end of each quarter, and all non-resident clients dealt with during the quarter may be reported in the same return.
March 30, 2026
Show AI Summary
Public interest refusal to furnish information under income-tax law now uses electronic Form 91 with DIN authentication.
Form 91 is the statutory electronic form used by the designated Income-tax authority to refuse furnishing information requested under section 258(2)(a) of the Income-tax Act, 2025 where disclosure is not considered to be in the public interest. It is issued only by the competent authority, records the application reference, assessee details and relevant tax year, and states the refusal on public interest grounds. The form is authenticated through a system-generated DIN and electronic issuance details, creating a formal and traceable record distinct from forms used for furnishing information or intimation of non-availability.
March 30, 2026
Show AI Summary
Money laundering probe intensifies as Nepal widens scrutiny of former prime ministers and protests continue after arrests.
Protests continued in Nepal after the arrest of former Prime Minister K P Sharma Oli and former home minister Ramesh Lekhak in connection with the alleged suppression of the Gen Z protests, while the Department of Money Laundering Investigation and police intensified scrutiny of former prime ministers Sher Bahadur Deuba, K P Sharma Oli and Pushpa Kamal Dahal. The probe expanded after preliminary enquiries and the arrest of former minister Deepak Khadka in a money laundering case, with allegations of financial benefits for facilitating licences and contracts and forensic confirmation of burnt banknote fragments.
March 30, 2026
Show AI Summary
Public interest refusal for tax information requests through Form 091 by the designated Income-tax authority.
Form 091 is the prescribed income-tax form used by the designated Income-tax authority to refuse furnishing information sought under section 258(2)(a) of the Income-tax Act, 2025, where disclosure is not considered to be in the public interest. It is issued only after an information request is received and declined, applies separately for each tax year, and is authenticated by the authority's signature, name, and designation without requiring an official seal.
March 30, 2026
Show AI Summary
Insolvency code amendments tighten timelines, add creditor-initiated resolution, and curb frivolous delays in the process.
Insolvency and Bankruptcy Code amendments introduce stricter timelines, an out-of-court creditor-initiated resolution mechanism, and an enabling framework for group and cross-border insolvency. The revised framework replaces the underutilised fast-track route with a creditor-initiated insolvency process based on debtor-in-possession and creditor-in-control principles, subject to safeguards and defined timelines. The amendments also provide deterrent measures against abuse of process, including penalties for vexatious and frivolous proceedings, and seek to protect the integrity of the resolution system by discouraging delay-causing litigation.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters
Customs & Trade

PM Modi says will overcome West Asia crisis like Covid; stresses on dialogue, diplomacy to end conflict

March 23, 2026

Contents
Summary
Note

Note

-

Bookmark

Print

Print

New Delhi, Mar 23 (PTI) Prime Minister Narendra Modi on Monday said the difficult global conditions caused by the West Asia conflict are likely to persist for a long time and called upon the nation to remain prepared and united, just as it had stood together during the COVID-19 pandemic.

In a statement in the Lok Sabha, PM Modi addressed concerns related to the impact on fuel, fertilisers, national security and other areas in India as well on its nationals residing in the West Asia region, detailing steps taken by the government to ensure that "ordinary families face as little trouble as possible", and said a unanimous voice should go out to the world from India's Parliament on this crisis.

Reaffirming India's unwavering commitment to humanity and peace, the prime minister said the dialogue and diplomacy remain the only path to resolution and every Indian effort is directed at de-escalation and the cessation of hostilities.

Informing the House that he has engaged with all relevant West Asian leaders and urged them to reduce tensions and end the conflict, Modi emphasised that attacks on commercial ships and obstruction of international waterways like the Strait of Hormuz, through which 20 per cent of the world's energy is transported, are"wholly unacceptable".

He said endangering any life in this war runs counter to the interests of humanity and "India's effort is to encourage all parties to arrive at a peaceful resolution as soon as possible".

On India's diplomatic response to the West Asia conflict, the Prime Minister said India's stand has been clear from the very beginning, when the US and Israel attacked Iran and the latter retaliated by targeting its Gulf neighbours and Israel, "one of expressing deep concern, advocating de-escalation, and opposing attacks on civilians and on energy and transport infrastructure".

"India, through diplomacy, is making continuous efforts for the safe passage of Indian ships even amidst the war environment. Due to such efforts, several of our ships that were stuck in the Strait of Hormuz have also arrived in India in recent days," he said.

The prime minister also drew the attention of the House to the internal security dimension of the crisis, warning that certain elements attempt to exploit such situations.

He said all security agencies have been placed on alert and that security across all domains, coastal, border, cyber, and strategic installations, is being further strengthened.

"Whether it is coastal security, border security, cyber security, or strategic installations, the security of all is being reinforced," he said.

Urging patience, restraint, and vigilance, and cautioning against those who may seek to exploit the situation by spreading falsehoods, engaging in black-marketing, or hoarding, Modi appealed to all state governments to ensure strict monitoring and swift action against such elements.

Expressing his abiding faith in the collective resolve of the nation, the Prime Minister said that when every government and every citizen of this country walk together, "we can challenge every challenge, this is our identity, and this is our strength".

The prime minister remarked that the difficult global conditions caused by this war are likely to persist for a long time and called upon the nation to remain prepared and united, just as it had stood together during the COVID-19 pandemic.

The prime minister said the crisis has been going on now for more than three weeks and it is having a very adverse impact on the global economy and on people's lives. The entire world is urging all parties for the earliest resolution of this crisis, he said.

This region is important to India for yet another reason, as nearly one crore Indians live and work in the Gulf countries and among the commercial ships that sail in these seas, the number of Indian crew members is also very high, he said.

"India's concerns are naturally greater, and therefore it is essential that a united and unanimous voice goes out to the world from India's Parliament on this crisis," he said.

Modi underscored how the energy diversification strategy pursued over the past decade has proven its worth in the current crisis.

He informed the House that India has expanded its energy import sources from 27 countries to 41 countries over the past 11 years, thereby reducing dependence on any single region.

Emphasising the foresight of this approach, Modi said in today's circumstances, the steps taken over the past decade regarding energy security have become even more relevant.

Modi said India has more than 5.3 million metric tonnes of strategic petroleum reserves, and the country is also working on arrangements for more than 6.5 million metric tonnes of storage.

Apart from this, he said, there are reserves held by the domestic oil companies.

"In the last 11 years, our refining capacity has increased significantly, and the government is in constant touch with suppliers from different countries. The effort is to ensure that oil and gas supplies continue from wherever possible," he said.

Highlighting the scale of the evacuation effort, the Prime Minister said more than 3,75,000 Indians have safely returned to India since the war began, including approximately 1,000 Indians from Iran alone, of whom over 700 are young medical students.

Addressing the broader economic ramifications, Modi acknowledged that energy is the backbone of the modern economy and that West Asia is a major source for global energy needs, making the current crisis a challenge for economies worldwide.

He said the government is working with a comprehensive short-term, medium-term, and long-term strategy, supported by strong economic fundamentals, sector-specific stakeholder consultations, and a dedicated Inter-Ministerial Group that meets daily to assess and resolve every difficulty in India's import-export chain.

"I am fully confident that through the joint efforts of the government and industry, we will be able to face these circumstances effectively," he said.

The prime minister said, unfortunately, several lives were lost and some people were injured during the conflict and their families are being given the necessary help, and treatment of the injured is being ensured.

He said another question is the impact of the war on agriculture, but the good part is that the country's farmers have filled the food grain reserves, so India is well prepared in terms of food security.

"We are also making efforts to ensure that the Kharif sowing takes place properly. For this, the government has made adequate arrangements for fertilisers to deal with any emergency. In the past as well, our government did not let any global crisis impact our farmers," he said.

Modi said that as the summer season has begun in India, electricity demand has increased, but all power plants in the country have adequate coal stock available.

"India has created a record by producing more than 1 billion tonnes of coal for the second consecutive year. In the last decade, the country has also taken major steps towards renewable energy," he said. PTI GJS NAB ACB RT

Topics

Acts Income Tax