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March 28, 2026
Guidance note - Form 69
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Concessional taxation for specified funds depends on timely filing of Form 69 with income and unit-holder details.
Form 69 is the prescribed annual statement for a specified fund to report income attributable to units held by non-residents, other than a permanent establishment in India, for concessional taxation. The form is a mandatory compliance requirement and must be filed electronically on or before the due date, with trustee or principal officer verification. It includes fund particulars, registration details, and computations of income from securities and capital gains, supported by constituting documents, registration certificate, financial statements, securities statements, and unit-holder residency details.
March 28, 2026
Form 69 - Frequently Asked Questions
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Concessional taxation for specified funds requires electronic Form 69 filing, verification, and timely supporting disclosures.
Form 69 is the prescribed electronic statement for a specified fund claiming concessional taxation on income attributable to units held by a non-resident, other than a permanent establishment in India. A valid filing within the prescribed due date is a mandatory condition for the concessional rate benefit. The form must be verified by the Principal Officer or Managing Trustee, supported by the prescribed annexures and documents, and cannot be edited after submission and acknowledgment.
March 28, 2026
Guidance note - Form 68
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Exempt income reporting under Form 68 streamlined for specified funds with electronic filing and updated verification requirements.
Form 68 is the annual statement prescribed for specified funds seeking exemption under Section 11 read with Schedule VI of ITA 2025 in respect of income attributable to units held by a non-resident, other than a permanent establishment in India. It is filed electronically by the Principal Officer on or before the return due date, and captures particulars of the fund, income, exempt income, unit-holder details, and the working of income attributable to non-resident holders. The guidance note also describes the supporting documents and the simplified filing updates, including IFSCA registration, mandatory document upload, and verification in place of declaration.
March 28, 2026
Form 68 - Frequently Asked Questions
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Exempt income statement filing for specified funds requires verified online submission within the prescribed due date.
Form 68 is the prescribed electronic statement for claiming exemption of income of specified funds under section 11 read with Schedule VI [Table: Sl. Nos. 1 to 4] of the Income-tax Act, 2025, in respect of income attributable to units held by a non-resident other than a permanent establishment of such non-resident in India. The form must be verified by the Principal Officer or Managing Trustee, filed only through the Income-tax e-filing portal, and furnished on or before the applicable due date. Valid filing requires mandatory PAN details, specified annexures, and satisfaction of the statutory eligibility conditions.
March 28, 2026
Guidance note - Form 67
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Alternate Minimum Tax reporting gets a structured Form 67 update with CA certification, itemised computation, and digital filing.
Form 67 is a chartered accountant's report for certifying book profit, adjusted total income and Alternate Minimum Tax liability under the updated section 206 framework. It applies to non-corporate taxpayers subject to the AMT regime, is furnished annually with the return of income, and must be digitally signed. The revised form introduces itemised computation fields, category-based AMT rates, and system-enabled validation through the e-filing process.
March 28, 2026
Form No.67 - Frequently Asked Questions
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Alternate Minimum Tax compliance through Form 67 requires CA certification, electronic filing, and timely submission with the return.
Form 67 is prescribed for furnishing details relating to the computation of Adjusted Total Income and Alternate Minimum Tax (AMT) under section 206(2) of the Income-tax Act, 2025. It applies to persons other than companies, subject to stated exceptions, and is not required for certain specified taxpayers where adjusted total income does not exceed twenty lakh rupees. The form is used to determine AMT on adjusted total income, with tax payable at the higher of the regular tax or AMT, and it incorporates adjustments such as depreciation and other specified items.
March 28, 2026
Guidance note - Form 66
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Minimum Alternate Tax reporting through Form 66 demands Chartered Accountant certification, digital filing, and return-linked book profit verification.
Companies liable to Minimum Alternate Tax must furnish Form 66, a Chartered Accountant-certified report on book profit and MAT computation, annually with the income tax return. The form is digitally signed, accepted by the company through the e-filing portal, and linked to the return for processing. It contains company particulars, profit adjustments, transition amount, final MAT computation, auditor certification, and supporting financial and tax documents.
March 27, 2026
Delhi court rejects Siddiqui plea for ED’s unrelied documents at pre-cognisance stage
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Access to unrelied ED documents denied at pre-cognisance stage in an ongoing money-laundering investigation.
Access to documents seized by the Enforcement Directorate but not relied upon in the chargesheet was refused at the pre-cognisance stage in an ongoing Prevention of Money Laundering Act matter. The court held that the accused had already been supplied with the prosecution complaint and relied-upon documents, and that disclosure of unrelied material was not required before cognisance when the investigation remained pending.
March 27, 2026
India-US trade agreement designed to protect domestic sensitivities: Govt tells LS
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Trade agreement framework balances market access with farmer safeguards, calibrated tariff concessions, and export opportunities across key sectors.
India and the United States have agreed on a framework for an interim trade agreement intended to expand reciprocal and mutually beneficial trade while protecting domestic sensitivities, particularly in agriculture and dairy. The framework contemplates improved market access, rules of origin, action on non-tariff barriers, and cooperation on standards, digital trade, economic security, technology, supply chain resilience, energy and manufacturing. Limited and calibrated tariff concessions have been offered on select agricultural products through quota-based mechanisms, phased concessions and partial duty reductions, with the quotas kept within existing import levels to avoid adverse impact on domestic farmers.
March 27, 2026
Rupee settle at all-time low of 94.85 against US dollar
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Rupee weakness deepens as higher crude prices, dollar strength and foreign selling weigh on currency and reserves.
The rupee weakened sharply to a historic low against the US dollar amid sustained pressure from higher crude oil prices, a stronger greenback, foreign investor selling, and energy-led inflation concerns. India's foreign exchange reserves also declined during the reporting week, driven by a fall in gold reserves. The government indicated plans to mobilise substantial borrowing through dated securities in the April-September period, while noting a reduction in gross market borrowing after G-Sec switches.
March 27, 2026
Centre plans to borrow Rs 8.2 lakh cr from market in first half of FY27 to fund fiscal deficit
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Government borrowing calendar set for dated securities, green bonds, retail bidding and flexible issuance management.
The Centre plans to raise gross market borrowings through dated securities in the first half of FY 2026-27 to finance the fiscal deficit, with borrowing spread across weekly auctions and multiple maturities. The borrowing calendar includes sovereign green bonds, non-competitive bidding for specified retail investors, and flexibility to modify issuance amounts, maturities, instruments and timing in consultation with the Reserve Bank of India, depending on funding needs and market conditions.
March 27, 2026
Goyal holds talks with USTR Jamieson Greer; discusses next steps in India-US BTA negotiations
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Bilateral trade agreement negotiations advance as India and the US discuss WTO issues, tariffs, and next steps in talks.
India and the United States continued discussions on the next steps in the bilateral trade agreement negotiations, covering the WTO agenda, the India-US BTA, and ways to deepen bilateral economic cooperation and trade ties. A framework for the first phase has been finalised, but the legal text remains unsigned, and the chief negotiators' meeting was postponed because of changes in the US tariff architecture and the need to await the revised global tariff framework before the interim trade agreement is signed.
March 27, 2026
Lockdown not even under discussion, no situation to impose it: Govt
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Energy supply stability assured as government rules out lockdown, citing adequate fuel stocks and anti-hoarding measures.
The government ruled out any lockdown and said India has adequate stocks of petrol, diesel and LPG, with fuel retail operations continuing normally despite energy supply disruptions linked to the war in West Asia. Officials said rumours have caused panic buying, while alternative sourcing, higher domestic LPG production, excise duty cuts, export levies, export diversion directions and intensified anti-hoarding enforcement are being used to stabilise supplies and protect consumers.
March 27, 2026
Andhra CM welcomes Centre's excise duty cut on fuel, lauds PM Modi
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Excise duty cut on petrol and diesel aims to shield consumers from global fuel price volatility.
The Union Government reduced excise duty on petrol and diesel by Rs 10 per litre to prevent a retail price increase caused by rising global oil prices. The move was described as a people-centric measure intended to shield consumers from fuel price volatility and wider shortages linked to global instability.
March 27, 2026
States'€™ borrowing costs harden to over 8 pc tracking uptick in G-sec yields amid Middle East conflict
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State borrowing costs harden as bond yields rise, forcing partial bids and higher returns in volatile fixed-income markets.
States' borrowing costs hardened in a State Development Loan auction as cut-off yields rose across long-term maturities, with several securities moving above 8 per cent. The increase tracked a broader rise in government bond yields amid global oil price pressures, inflationary concerns and weakness in the rupee, causing some states to accept only partial borrowing amounts or reject bids. The report notes that higher bond yields may keep borrowing costs elevated and increase volatility in fixed-income markets.
March 27, 2026
Bank loan 'fraud': ED files chargesheet against ex-RCOM executive Punit Garg
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Money laundering proceedings over bank loan fraud allegations include diversion of proceeds through offshore entities and property transactions.
Money laundering proceedings under the Prevention of Money Laundering Act concern a former senior executive of Reliance Communications and another accused in an alleged bank loan fraud case. The allegations include concealment, layering and diversion of proceeds of crime through foreign subsidiaries and offshore entities, purchase and sale of a Manhattan condominium during the insolvency process, and routing of sale proceeds through an asserted sham investment arrangement. The allegations also include personal diversion of funds for overseas education-related payments.
March 27, 2026
Form No. 66 – Frequently Asked Questions
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Minimum alternate tax and book profit reporting through Form 66, with CA certification, exemptions, and MAT credit rules.
Form No. 66 is the prescribed electronic statement for furnishing details of book profit and minimum alternate tax under section 206(1) of the Income-tax Act, 2025. It applies to companies where normal tax is lower than the minimum tax, must be filed along with the return of income, and requires certification by an Accountant/Chartered Accountant. The FAQ explains book-profit adjustments, MAT credit, exemptions, Ind-AS transition amounts, and the consequences of incorrect or missing filing.
March 27, 2026
Guidance note - Form 65
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Patent box regime filing through Form 65 enables eligible resident assessees to opt for concessional royalty taxation.
Form 65 is the prescribed application for an eligible resident assessee to exercise the option under Section 194(1) of the Income-tax Act, 2025 for royalty income from a patent developed and registered in India. It relates to the concessional 10% tax rate under the patent box regime and requires the assessee to forgo deductions or allowances against such royalty income. The form is filed electronically by the return-filing due date, with patent details, royalty particulars, expenditure information and verification requirements.
March 27, 2026
FORM 65 - Frequently Asked Questions (FAQs)
Show AI Summary
Concessional royalty taxation under Form 65 requires resident eligibility, electronic filing, and a five-year lock-in period.
Form 65 is the prescribed income-tax application by which a resident assessee opts for concessional taxation on royalty income from a patent developed and registered in India. The form enables taxation at a flat 10% rate on gross royalty, with surcharge and cess, subject to conditions including denial of deductions, Indian patent registration, and development in India. The option must be filed electronically by the return due date, cannot be revised or withdrawn for that year, and carries a five-tax-year lock-in.
March 27, 2026
Guidance note - Form 61
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Tax deduction verification through Form 61 requires e-filing, irrevocable authorisation, and proof of transmission to the financial institution.
Form No. 61 is an irrevocable authorisation enabling tax authorities to obtain information and records from a financial institution in a Notified Jurisdictional Area for verifying deduction claims on payments made to that institution. It is filed once for the tax year before the income-tax return due date, through the e-filing portal, with details of the institution, payment, supporting documents, and proof that the first copy has been deposited or transmitted. The assessee must send the first copy to the institution and submit the second copy with proof to the Assessing Officer.

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March 27, 2026

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New Delhi, Mar 27 (PTI) Following are the top stories at 5.10 pm: TOP STORIES DEL34 BIZ-3RDLD PETROL-EXCISE CUT (3.38 PM) Govt cuts excise duty on petrol, diesel; slaps windfall tax on fuel exports New Delhi: The government has slashed excise duty on petrol and diesel by Rs 10 per litre, averting a pump price hike that had become necessary because of soaring global oil prices.

FGN34 NEPAL-BALEN-2NDLD OATH (4.56 PM) Rapper-turned-politician 'Balen' sworn in as Nepal's 47th PM Kathmandu: Rapper-turned-politician Balendra Shah 'Balen,' took oath as Nepal's democratically elected prime minister on Friday, around six months after the K P Sharma Oli-led government was ousted in a Gen-Z protest that shook the nation. By Shirish B Pradhan LGD8 UP-HC-LIVE IN RELATIONSHIP (4.45 PM) Live-in relationship between married man, consenting adult woman not a crime: Allahabad HC Prayagraj: The Allahabad High Court has said that a married man living in a consensual live-in relationship with an adult woman does not amount to a criminal offence under law.

NATION DEL28 PM-NEPAL-BALEN (1.56 PM) Modi congratulates Balendra Shah on becoming Nepal's new PM New Delhi: Prime Minister Narendra Modi on Friday congratulated Balendra Shah 'Balen' on being sworn in as Nepal's new prime minister, saying that he looks forward to working closely with him to deepen India-Nepal ties for the mutual benefit of both nations.

DEL26 ED-RELIANCE-CHARGESHEET (1.23 PM) ED to file chargesheet in Rs 40,000 crore loan 'fraud' involving ex-RCOM president New Delhi: The Enforcement Directorate may on Friday file a chargesheet as part of its money laundering probe into an alleged Rs 40,000 crore loan fraud involving Reliance Group chairman Anil Ambani's group company RCOM and its past executives, official sources said.

DEL35 CONG-EXCISE-3RDLD FUEL (3.36 PM) Excise duty cut on petrol-diesel due to assembly polls: Congress slams govt New Delhi: The Congress on Friday alleged that the government's excise cuts on petrol and diesel were because of assembly elections and pointed out that consumer prices in India were not reduced even when global crude oil prices fell on seven different occasions in the past 12 years.

PAR15 LS-SULE-CRASH (4.08 PM) Supriya Sule raises Ajit Pawar plane crash in LS, seeks time-bound probe New Delhi: NCP-SP leader Supriya Sule on Friday demanded a time-bound probe into the plane crash that killed former Maharashtra Deputy Chief Minister Ajit Pawar and criticised the state government for not filing an FIR in the matter.

DEL45 DEF-CONTRACTS (4.20 PM) Govt inks twin defence deals worth Rs 858 crore New Delhi: The defence ministry on Friday signed a Rs 445 crore contract with Russia's Rosoboronexport for procurement of an air defence missile system for the Indian Army.

DEL27 DL-SONIA GANDHI-HOSPITAL (1.23 PM) Sonia Gandhi's health shows improvement, will be discharged from hospital soon: Doctors New Delhi: Senior Congress leader Sonia Gandhi's health is showing steady improvement, and she will be discharged from the hospital within one to two days, her doctors said on Friday.

CAL20 WB-POLLS-ABHISHEK (4.43 PM) Modi govt may hike fuel prices after assembly polls: Abhishek Banerjee Kolkata: Senior Trinamool Congress leader Abhishek Banerjee on Friday said there is a strong possibility that the BJP-led central government will increase the prices of cooking gas and transport fuel after the assembly elections are over on April 29.

CAL19 WB-MAMATA-LPG (4.38 PM) LPG cylinders produced in Bengal should not be sent outside: Mamata Kolkata: West Bengal Chief Minister Mamata Banerjee on Friday reiterated her demand that cooking gas produced in the state should not be diverted elsewhere in the country, citing concerns over a perceived LPG shortage amidst the ongoing West Asia conflict.

MDS16 TN-POLLS-AIADMK-LIST (4.01 PM) AIADMK announces second list of party candidates for Apr 23 TN Assembly polls Chennai: The Opposition AIADMK in Tamil Nadu on Friday announced the second list of its party candidates for the April 23 Assembly election, retaining some of its MLAs.

DEL30 PREZ-ECONOMIC-POLICY (3.21 PM) 'Behind every statistic lies human story', economic policy should improve people's lives: Murmu New Delhi: Asserting that behind every statistic lies a human story, President Droupadi Murmu on Friday said that the true measure of economic policy is not merely in numbers, but in its outcome.

BOM9 MH-ZIRWAL-FADNAVIS (2.44 PM) Will take appropriate decision on Zirwal issue after verifying facts: Fadnavis (2.44 PM) Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Friday said an “appropriate decision” on minister Narhari Zirwal will be taken after verification of facts in connection with a viral video showing the NCP leader with a trans-person in a bedroom.

LEGAL BOM6 MH-HC-AMBANI-PIL (1.23 PM) HC junks plea seeking CBI probe against Mukesh Ambani, RIL over ‘illegal’ gas extraction Mumbai: The Bombay High Court on Friday dismissed a petition seeking a CBI probe against Reliance Industries Limited and its chairman and managing director Mukesh Ambani for alleged unlawful extraction of natural gas from ONGC’s Krishna-Godavari basin fields.

LGD7 CJI-JUDGES VACANCY (3.56 PM) CJI writes to HCs for expeditious filling of vacant posts, prioritising elevation of women judges New Delhi: Chief Justice of India Surya Kant has written to chief justices of high courts for expeditious filling up of judicial vacancies with special focus on elevation of women judges for ensuring diversity in the benches.

BUSINESS DEL24 BIZ-LPG-ALLOCATION (1.15 PM) Govt raises commercial LPG supply to 70 pc of pre-war demand, prioritises key industries New Delhi: The central government has increased commercial LPG allocations to states by 20 per cent, raising the quota to 70 per cent of pre-war demand to meet industrial requirements, including steel and automobiles.

FOREIGN FES20 LANKA-HEALTH SCAM (3.47 PM) Former Sri Lanka health minister fined LKR 75 million for purchasing substandard medicines Colombo: The Supreme Court on Friday fined a former health minister Sri Lanka rupees 75 million for violating fundamental rights by importing medicines under an Indian credit line in 2022 through a company not registered for the purpose. PTI AMJ AMJ

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