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    Guidance note - Form 61
    Form No. 61 – Frequently Asked Questions
    Excise duty cut on petrol, diesel; hike in export duties to cost exchequer Rs 5,500 cr in fortnight
    Guidance note - Form 60
    Guidance note - Form 59
    Guidance note - Form 58
    India's forex reserves drop USD 11.41 billion to USD 698.346 billion: RBI data
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    Guidance note - Form 57
    Guidance note - Form 56
    PLI Scheme disburses ₹15,554 crore in electronics and ₹2,377.56 crore in automobile sector incentives
    PLI Schemes attract over ₹2.16 lakh crore investment, drive ₹20.41 lakh crore production and generate 14.39 lakh jobs
    India's Life Insurers Pay ₹6.30 Lakh Crore in Benefits in FY25 To Emerge as A Pillar of Household Financial Security
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    Excise duty cut on petrol, diesel with eye on elections in four states: TMC member Saket Gokhale
    National Council for Cement and Building Materials signs MoU to strengthen skill development and capacity building in construction sector
    Shri Piyush Goyal, Commerce & Industries Minister, leads the Indian delegation for the 14th Ministerial Conference of the WTO starting on March 26, 20...
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March 27, 2026
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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.
March 27, 2026
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Notified jurisdictional area disclosures: Form 61 authorisation enables tax authorities to access financial records for deduction verification.
Form No. 61 is an irrevocable authorisation enabling the Central Board of Direct Taxes and designated income-tax authorities to obtain information and records from a financial institution located in a notified jurisdictional area for the purpose of claiming deduction in respect of payments made to such institution. The form must be filed once for the relevant tax year before the due date for filing the income-tax return, through the e-filing portal, and verified by DSC or EVC as applicable. The assessee must submit the first copy to the financial institution and the second copy with proof to the Assessing Officer, while waiving privacy, data protection and banking secrecy protections.
March 27, 2026
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Excise duty reduction and export duty hike reshape fuel pricing to ease under-recoveries and protect domestic supply.
Excise duty on petrol and diesel has been reduced, while export duty on diesel and aviation turbine fuel has been increased, to address under-recoveries of oil marketing companies, support domestic fuel availability, and limit consumer price pressure amid volatility in global oil markets. The revised rates are stated to operate on a fortnightly review basis, with the policy rationale emphasising energy security, domestic supply prioritisation, and response to disrupted international crude and product markets.
March 27, 2026
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International group reporting designation requires Form No. 60 for appointing the entity that files the Country-by-Country Report.
Form No. 60 is the intimation to be furnished on behalf of an international group having multiple constituent entities resident in India for designating a single constituent entity to file the Country-by-Country Report in Form No. 59. The form requires particulars of the international group, the parent entity, the designated constituent entity, and the other constituent entities resident in India, including name, address and PAN details. It is to be filed as an e-form through the income tax e-filing portal, at least 30 days before the due date for Form No. 59, followed by preview and e-verification before submission.
March 27, 2026
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Country-by-Country reporting compliance for international groups, covering filing triggers, due dates, and e-form submission requirements.
Form No. 59 is the prescribed e-form for filing the Country-by-Country Report of an international group. It applies to a resident parent entity or alternate reporting entity where the consolidated group revenue exceeds the prescribed threshold, and in specified cases to a resident constituent entity where the parent is not required to report, there is no exchange arrangement with India, or a notified systemic failure exists. The report is ordinarily due within twelve months from the end of the reporting accounting year, with a shorter period in cases involving notified systemic failure. The form captures entity particulars, tax jurisdiction details, constituent entity data, and additional information.
March 27, 2026
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Country-by-country reporting intimation by Indian constituent entities sets out the reporting entity and filing location for the group report.
Form No. 58 is an intimation by every constituent entity resident in India, where the parent entity of the international group is not resident in India, regarding whether it is an alternate reporting entity and, if not, the details of the parent entity or alternate reporting entity and their country or territory of residence. The form informs the income-tax authorities where the Country-by-Country Report will be filed and must be submitted two months before the due date for furnishing that report.
March 27, 2026
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Foreign exchange reserves decline as gold holdings fall, while foreign currency assets rise in RBI data.
India's foreign exchange reserves declined during the week ended March 20, 2026, falling by USD 11.413 billion to USD 698.346 billion, according to RBI data. The drop was attributed mainly to a sharp reduction in gold reserves, even as foreign currency assets increased during the reporting week. The RBI data further showed that the value of gold reserves decreased significantly, Special Drawing Rights were lower, and India's reserve position with the IMF increased marginally.
March 27, 2026
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Live-in relationship and judicial vacancies draw legal attention as high court and chief justice address key issues.
The Allahabad High Court stated that a married man living in a consensual live-in relationship with an adult woman does not amount to a criminal offence under law. The Bombay High Court dismissed a petition seeking a CBI probe against Reliance Industries Limited and Mukesh Ambani over alleged unlawful gas extraction. Separately, the Chief Justice of India urged high courts to expedite filling judicial vacancies, with special focus on elevating women judges.
March 27, 2026
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Designated constituent entity intimation under income tax rules governs filing of Form 57 for international group reporting
Form No. 57 is an intimation by a designated constituent entity of an international group for the purposes of section 171(4), to be furnished under Rule 123 of the Income-tax Rules, 2026 when more than one constituent entity is required to file Form No. 56. The designated entity may file the form if the group has appointed it for compliance, and the intimation must be made at least 30 days before the due date for Form No. 56. The form captures particulars of the designated entity, the international group, the parent entity and the accounting year, and is filed online through the e-filing portal.
March 27, 2026
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Transfer pricing master file reporting requires constituent entities to disclose group details, thresholds, and supporting information electronically.
Form No. 56 (Master File) is an income-tax reporting document prescribed under Rule 123 of the Income-tax Rules, 2026 and section 171 of the Income-tax Act, 2025 for transfer pricing transparency. It applies to a constituent entity of an international group where the consolidated group revenue exceeds INR 500 crore and the aggregate value of international transactions exceeds INR 50 crore, or international transactions involving intangible property exceed INR 10 crore. Part A must still be furnished even if those conditions are not met. The form is filed by the due date for the return of income.
March 27, 2026
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Production Linked Incentive schemes strengthen domestic manufacturing, expand exports, and build supply chain resilience across key sectors.
Production Linked Incentive schemes across 14 sectors are being implemented to strengthen domestic manufacturing, attract investment, promote exports and generate employment. As of 31 December 2025, the schemes had cumulatively attracted investments of over Rs.2.16 lakh crore, generated production and sales of over Rs.20.41 lakh crore, supported exports of over Rs.8.3 lakh crore and created employment for more than 14.39 lakh persons across the covered sectors. The electronics and automobiles sectors have received incentive disbursements and reported incremental production through participating companies. The schemes are said to expand domestic manufacturing capacity, reduce import dependence and improve supply chain resilience. The policy framework is supplemented by initiatives for semiconductor development, electronics component manufacturing, logistics efficiency, rare earth magnet manufacture and critical mineral supply security.
March 27, 2026
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Production Linked Incentive schemes boost manufacturing, investment and jobs across key sectors under Make in India.
Production Linked Incentive schemes under the Make in India initiative are stated to incentivize incremental production and sales across 14 sectors, expand manufacturing capacity, and attract fresh investment within a wider industrial policy framework. The schemes are stated to have generated investments exceeding Rs.2.16 lakh crore, production and sales exceeding Rs.20.41 lakh crore, and over 14.39 lakh direct and indirect jobs, while also supporting exports, reducing import dependence, and strengthening domestic manufacturing.
March 27, 2026
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Life insurance strengthens household financial security as insurers pay benefits, maintain solvency, and address the protection gap.
India's life insurance sector is presented as a major pillar of household financial security, with insurers paying substantial benefits in FY25 and supporting protection, retirement planning, wealth creation, and liquidity across life stages. The text says policyholders increasingly use proceeds for lifecycle goals such as education, home purchase, travel, and reinvestment into other life insurance products, reflecting broader use of policy benefits beyond protection. It also states that insurers remain above solvency thresholds, supported by asset-liability matching and strong solvency margins, while awareness efforts continue to address the protection gap.
March 27, 2026
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Excise duty cut and anti-hoarding warnings aim to protect fuel supply and prevent artificial shortages.
Excise duty on petrol and diesel was reduced to cushion consumers against rising crude prices, with oil companies said to absorb the burden without passing it on. Public warnings were issued against panic buying, hoarding, and rumour-mongering, including false claims of a nationwide lockdown, on the ground that such conduct could create an artificial shortage and disrupt supply.
March 27, 2026
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Trade retaliation escalates as China opens investigations into US restrictions on goods, technology, and green energy exports.
China launched two investigations into US trade practices in response to recent tariff-related investigations announced by the United States. One probe concerns US policies restricting Chinese goods and advanced technology exports, while the other concerns barriers affecting Chinese green energy exports. The investigations are expected to last six months, with a possible three-month extension if necessary.
March 27, 2026
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Personalized nutrition acquisition expands Herbalife's data-driven wellness platform through Bioniq assets, contingent on regulatory approvals.
Herbalife announced an agreement to acquire certain assets of Bioniq to expand personalized nutritional supplement capabilities and strengthen a technology-enabled, data-driven wellness platform. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals. The purchase price includes deferred and contingent payments, and Herbalife also obtained a call option relating to Bioniq LAB. The release includes a forward-looking statements disclaimer covering execution, integration, regulatory, market, operational, tax, technology, and compliance risks.
March 27, 2026
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Excise duty on fuel and GST burdens draw parliamentary criticism over pricing, enforcement, and budget priorities.
Excise duty on petrol and diesel was criticised in parliamentary discussion as being politically timed, with a demand for assurance that fuel prices would not rise after voting in four states. The debate also raised whether consumers had been denied the benefit of discounted crude oil purchases, and whether the excise reduction would remain permanent rather than being offset later through higher pump prices. The discussion further addressed GST burdens, public expenditure concerns, and demands for budgetary changes.
March 27, 2026
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Skill development and capacity building in construction sector through structured training and certification programmes.
A Memorandum of Understanding has been signed to strengthen skill development and capacity building in the construction sector through structured training and certification programmes. The collaboration is intended to train civil engineers, ready-mix concrete professionals, contractors, construction workers, and masons across the country, with emphasis on material quality testing, concrete mix proportioning, durability, and sustainable construction practices.
March 27, 2026
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WTO reform through transparent, inclusive member-driven process with development at the core and preserved foundational principles
India's participation in the 14th Ministerial Conference of the WTO centred on support for WTO reform through a transparent, inclusive and member-driven process that keeps development at its core. The position emphasised the need to preserve the WTO's foundational principles and objectives, including non-discrimination, consensus-based decision making and equity. Bilateral discussions also addressed the conference agenda and ways to strengthen trade relations.
March 27, 2026
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Grievance redress governance through CPGRAMS review meetings strengthens complaint resolution, transparency, compliance, and citizen-centric oversight.
DFS conducts periodic CPGRAMS review meetings with financial regulators, banks, insurers, institutions, and complainants to assess grievance resolution through a dip-stick survey at the senior-most level. The exercise reviews unsatisfied closed complaints, addresses systemic and pending issues, and uses citizen feedback to strengthen grievance redress, transparency, compliance, and preventive governance across banking, insurance, pension, and claim-related disputes.

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Nucleus Software Marks 30 Years on BSE, Advances Customer-Centric, AI-Led Global Growth Strategy

March 28, 2026

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L–R: Yasmin Javeri Krishan (Chairperson), Dr. Ritika Dusad (Executive Director), Madhu Dusad, Vishnu R. Dusad (Co-founder & MD), Radha K (BSE), Kamala Kantharaj, Parag Bhise (CEO) and Dr. Apurva Chamaria (CBO), Nucleus Software Mumbai, India | 27th March, 2026: Nucleus Software, a global leader in digital lending and transaction banking solutions, today marked 30 years of its listing on the Bombay Stock Exchange (BSE)-a milestone reflecting three decades of strong governance, disciplined execution, and sustained value creation.

Listed in 1995, the company has built a global footprint, serving 200+ financial institutions across 50+ countries, enabling banks to transform their lending and transaction banking operations through scalable, future-ready platforms.

The milestone was commemorated at the BSE Convention Hall, with participation from leadership, customers, and partners.

Over the past three decades, Nucleus Software has consistently anchored its growth in deep customer-centricity and domain-led innovation. Its platforms, FinnOne Neo® and FinnAxia®, are designed to help financial institutions deliver faster, more intelligent, and more inclusive financial experiences.

This focus has enabled long-standing customer relationships and positioned Nucleus as a trusted partner in large-scale, mission-critical transformation programs across global markets.

Vishnu R. Dusad, Co-founder & Managing Director, Nucleus Software, said: “Thirty years as a listed company reflects our commitment to governance, discipline, and long-term value creation. At the core of this journey has been a deep focus on our customers-understanding their evolving needs and building solutions that create measurable impact. As we look ahead, we remain committed to enabling financial institutions through AI-led innovation and scalable platforms.” Parag Bhise, CEO & Executive Director, Nucleus Software, added: “Our evolution has been guided by consistent execution and a clear strategic focus on customer outcomes. Today, as banks accelerate digital transformation, we are partnering with them to build intelligent, resilient, and future-ready ecosystems powered by AI and platform innovation.” The Road Ahead As the industry moves towards AI-driven, real-time and embedded financial services, Nucleus Software is focused on: • Scaling AI-led capabilities across lending and transaction banking • Expanding its global market presence • Strengthening cloud-ready, API-driven architectures • Delivering deeper customer and ecosystem impact With a strong foundation built over three decades, Nucleus Software remains committed to staying ahead-driving innovation, strengthening customer outcomes, and delivering long-term value globally.

About Nucleus Software Nucleus Software Exports Ltd. Is a publicly traded (BSE: 531209, NSE: NUCLEUS), software product company that provides lending and transaction banking products to global financial leaders.

Nucleus Software delivers disruptive Fintech Solutions to 200+ Banks and Financial Institutions across 50 countries supporting Retail Lending, Corporate & SME Finance, Islamic Finance, Automotive Finance, Captive Automotive Finance, Cash Management, Mobile & Internet Banking, Transaction Banking and more. Our solutions manage over $15 trillion value of yearly transactions, with over 26 million transactions each day through our globally integrated transaction banking platform. Our lending platform manages $1.2 trillion+ value of loans globally, while enabling 500,000+ users to log in daily.

Our Flagship Products FinnOne Neo® and FinnAxia® are backed by more than 4 decades of BFSI domain expertise and an inbuilt AI powered platform to realize the digital transformation goals of FIs worldwide.

1. FinnOne Neo®: The next-generation digital lending platform, designed to revolutionize the lending process. FinnOne Neo® is built on an advanced technology platform, empowering financial institutions to streamline their lending operations, enhance customer experiences, and drive business growth.

2. FinnAxia®: An integrated global transaction banking suite, trusted by banks worldwide to optimize their transaction banking processes. With FinnAxia®, financial institutions can efficiently manage their cash management, trade finance, liquidity management, and other transaction banking activities on a single platform, thereby improving operational efficiency, visibility, and enhancing client relationships.

3. Nucleus Software Digital Services: Our comprehensive suite of services is tailored to assist banks and financial institutions in their digital transformation journey and maintain an optimal technology infrastructure. Through Nucleus Software Digital Services, we offer a holistic approach to digital transformation, enabling organizations to deliver seamless customer experiences, achieve operational and cost efficiencies, and gain actionable insights to drive strategic decision-making.

These offerings collectively underline Nucleus Software’s commitment to driving innovation and empowering financial institutions to thrive in an increasingly digital world.

For Media related information, please contact: Deepika Gulabani Corporate Communications Email: [email protected] Phone: +91-9310334963 (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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