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March 25, 2026
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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
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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.
March 24, 2026
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Export policy and trade facilitation framework strengthens competitiveness, digital governance, and market access across India's export ecosystem.
India's export framework is being strengthened through policy support, financial incentives, digital trade facilitation, infrastructure development, and trade agreements to expand competitiveness and global market access. The Foreign Trade Policy 2023, RoDTEP, the Export Promotion Mission, export credit support, and export-linked infrastructure are described as core instruments for improving trade finance, logistics, market readiness, and MSME competitiveness. Digital governance tools and trade agreements are said to support faster compliance, transparency, market access, and investment flows.
March 24, 2026
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Startup ecosystem collaboration advances industry-linked innovation support for HVAC, manufacturing, testing, and pilot deployment opportunities.
Industry-linked innovation support is being advanced through a Memorandum of Understanding to strengthen the manufacturing and startup ecosystem. The collaboration is directed at product startups working in HVAC technologies, digital solutions, advanced manufacturing processes, and supply chain innovation, with the aim of enabling scalable, industry-relevant solutions through structured engagement. Startups will receive mentorship, testing facilities, R&D infrastructure, pilot opportunities, market linkages, and structured Proof-of-Concept programmes.
March 24, 2026
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Unauthorised electronic banking transactions framework updated with compensation, AI fraud detection, and stronger mule account safeguards.
RBI has revised its framework on unauthorised electronic banking transactions, including a proposed compensation mechanism for small-value fraudulent transactions, to update customer-liability rules in response to technological change. The broader framework also relies on AI-driven fraud detection, mule account surveillance, real-time transaction monitoring, and public financial literacy campaigns to curb cyber fraud and strengthen safe banking practices.
March 24, 2026
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Unclaimed financial assets: regulators expand digital portals, nomination reforms and simplified claim processes to help rightful claimants trace funds.
Measures by RBI, IRDAI and SEBI simplify identification, tracing and settlement of unclaimed financial assets through claim reforms, digital portals, nomination requirements and awareness drives. RBI has consolidated claim directions, introduced an incentive scheme, supported common application procedures and launched UDGAM; IRDAI and SEBI have adopted similar tracing, documentation and portal-based mechanisms for insurance proceeds and mutual fund amounts. Banks transfer long-inactive balances to the DEA Fund, and a nationwide campaign supported restitution of unclaimed assets to rightful owners.
March 24, 2026
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Fundamental rights of ED officers shape maintainability debate over alleged obstruction during a money-laundering raid.
Maintainability of the ED's plea was examined in relation to alleged obstruction during a money-laundering raid at the I-PAC office. The issue was whether ED officers, acting in their individual capacity, could invoke fundamental rights under Article 32 and whether the petition had to identify the specific right allegedly violated. Arguments also addressed whether obstruction of statutory duties amounts to a constitutional violation and the relevance of Section 66 of PMLA in the context of the investigation and reporting of related offences.
March 24, 2026
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Transfer of assets in India reporting requires accountant-certified Form 4, electronic filing, and cross-verification of returned income.
Form 4 is an accountant's report for income attributable to transfer of assets located in India under section 9(10), filed once in a tax year along with the return of income. It captures taxpayer details, transfer particulars, income derived, values of Indian and global assets, valuation methodology, and supporting documents such as valuation reports, financial statements, and sale documents. The form is filed electronically with UDIN and digital signature, and is used for cross-verification of income offered in the return.
March 24, 2026
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AI wealth intelligence platform scales regulated fee-only advisory for Indian investors with unified financial insights.
A SEBI-RIA licensed wealth management platform has raised seed funding to scale a purpose-trained AI wealth intelligence product for Indian investors. The platform aggregates financial data across banks, brokerages, mutual funds, and other accounts into a unified view of assets, liabilities, portfolio performance, risk exposure, diversification, and concentration, and presents structured, actionable insights for personal finance decision-making. It operates on a zero-commission, fee-only advisory model aligned with investor interests.

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DPIIT Signs MoU with a Leading Fintech Platform to Strengthen India’s Startup Ecosystem

March 25, 2026

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Startup Sahayak Platform Launched to Support Founders in Early Growth Stages

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India, has entered into a strategic partnership with a leading fintech platform, Razorpay, to strengthen India’s startup ecosystem. The collaboration has been formalised through the signing of a Memorandum of Understanding (MoU) aimed at supporting startups, innovators and entrepreneurs across the country.

The partnership seeks to empower startups with access to financial tools, founder enablement programmes and ecosystem support to accelerate growth. It is expected to assist early- and growth-stage startups in scaling efficiently by leveraging digital payment solutions, financial infrastructure and startup support initiatives. The collaboration will also provide incorporation support, mentorship and structured guidance to help startups formalise, build and expand their operations.

As part of this initiative, a dedicated platform, Startup Sahayak, has been launched to support early-stage founders. The platform aims to provide end-to-end assistance, including company incorporation, access to central and state government schemes and programmes, and guidance on funding opportunities, thereby enabling startups to access essential ecosystem support through a structured interface.

Joint Secretary, DPIIT, Shri Sanjiv, stated that the collaboration reflects the Department’s commitment to strengthening India’s startup ecosystem through partnerships with leading fintech players. He emphasised that facilitating seamless access to financial infrastructure and tools will play a crucial role in accelerating the growth of startups.

Chief Executive Officer and Co-founder, Razorpay, Shri Harshil Mathur, highlighted that the partnership is driven by a shared vision to enable innovation and make the entrepreneurial journey more accessible and scalable. He noted that with the increasing emergence of startups across the country, particularly in Tier 2 and Tier 3 cities, there is a growing need for robust infrastructure, mentorship and ecosystem support.

Under the collaboration, DPIIT and Razorpay will conduct regular knowledge sessions on topics such as applied artificial intelligence, marketing, product development and financial management through the Startup India Hub to ensure wider outreach. DPIIT-recognised startups will also be provided incorporation support with zero professional fees (excluding applicable government charges), along with access to credits and incentives across a range of financial and business tools.

Startups will also gain access to mentorship support, pitch deck reviews, application guidance and curated resources to support early-stage growth. Selected startups will be onboarded into curated founder communities to facilitate peer learning, networking and access to additional ecosystem support across domains such as engineering, hiring and marketing.

The collaboration will further explore the organisation of innovation challenges under the Bharat Startup Grand Challenge framework, with a focus on fintech-driven problem statements and digital innovation.

The MoU was signed by Deputy Secretary, DPIIT, Shri T. L. K. Singh and Chief Information Officer, Razorpay, Shri Arif Khan, in the presence of officials from both organisations.

 

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