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March 24, 2026
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Income attributable to transfer of assets in India requires an accountant's report filed online with UDIN and a valid PAN.
Form 4 is an accountant's report for computing income attributable to transfer of assets located in India, to be filed once in a tax year along with the return of income through the e-filing portal with a valid PAN and UDIN. The form requires supporting valuation, financial, and sale-related documents, cannot be edited after submission, and does not require proof of tax payment at filing, though payment evidence may be needed for return processing.
March 24, 2026
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Cybercrime investigation coordination under money laundering law expands through data-sharing platforms, FIR access, and victim-centric complaint handling
The Enforcement Directorate has identified proceeds of crime in cybercrime investigations under the Prevention of Money Laundering Act, while sharing information with other law enforcement agencies through nodal officers and under Section 66(2) when relevant contraventions are noticed. It also uses the SAHYOG, Samanvaya and cyber police portal, along with the Inter-operable Criminal Justice System portal, for cybercrime data sharing, analytics and access to FIRs. A standard operating procedure has been issued for complaints through the National Cybercrime Reporting Portal and the Citizen Financial Cyber Fraud Reporting and Management System.
March 24, 2026
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Zero Coupon Bond compliance reporting under Form 3 requires accountant certification of investment use, timelines, and sinking fund maintenance.
Form 3 under Rule 7 is the accountant's certificate for notified Zero Coupon Bonds issued by infrastructure capital companies, infrastructure capital funds, infrastructure debt funds and public sector companies. It certifies, for each relevant tax year, the amount of bond proceeds actually invested and verifies compliance with the prescribed utilisation timelines, minimum investment thresholds and, for infrastructure debt funds, maintenance of a sinking fund and investment of accrued interest in Government securities. The form is filed electronically with digital signature or electronic verification and includes the accountant's certificate with UDIN where applicable.
March 24, 2026
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Aadhaar-based service delivery strengthens transparency, direct welfare transfer, and beneficiary targeting across public administration.
Aadhaar is highlighted as a governance instrument for transparent and efficient service delivery, linking citizens to bank accounts and enabling Direct Benefit Transfer so subsidies and financial assistance reach eligible beneficiaries directly. It is described as reducing fraud, eliminating ghost beneficiaries, and improving access to welfare schemes and government services across rural and underserved sections. The text also notes Aadhaar's use in birth registration, healthcare, health insurance claims, property-related matters, agricultural grain procurement, pension distribution, and food security implementation.
March 24, 2026
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Platform fee increases in food delivery reflect higher operating costs, GST inclusion, and rising delivery expenses.
Food delivery platforms increased the platform fee charged to users on a per-order basis, with the revised charge stated to be inclusive of GST. The fee is a fixed amount added to delivery and restaurant charges and is linked to operating costs, technology maintenance, and customer support. The increase comes alongside comparable revisions by competing services and against the backdrop of rising fuel costs affecting delivery operations.
March 24, 2026
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Accounting outsourcing services for SMEs expand compliance support across GST, payroll, income tax filing, and financial reporting.
Accounting outsourcing services for SMEs combine bookkeeping, GST compliance, income tax filing, payroll management, accounts payable and receivable support, and financial advisory under a single engagement model. The service package addresses rising demand from small and medium-sized enterprises seeking assistance with GST filing cycles, payroll compliance, audit preparation, and maintenance of accurate financial records while managing business operations. The offering includes monthly reconciliation and financial reporting, GST return filing, input tax credit reconciliation, ITR filing, payroll processing with PF/ESI compliance and TDS on salaries, vendor and debtor tracking, and budgeting and cash flow planning.
March 24, 2026
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Zero Coupon Bonds compliance certificate must be filed electronically each tax year by eligible issuers.
Form No. 3 is the prescribed accountant's certificate under rule 7 for certifying utilisation of funds raised through notified Zero Coupon Bonds. It is mandatory for each relevant tax year and applies to every issuer of a notified Zero Coupon Bond, including infrastructure capital companies, infrastructure capital funds, infrastructure debt funds, and public sector companies. The certificate must be filed electronically within two months from the end of the relevant tax year and is year-specific, with revision permitted only if the system enables it.
March 24, 2026
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Zero-coupon bond notification under Rule 7 requires strict filing, investment, rating and listing compliance before tax recognition.
Form 2 is the prescribed application under Rule 7 for infrastructure capital companies, infrastructure capital funds, infrastructure debt funds and public sector companies seeking notification of a proposed zero-coupon bond. Notification is a mandatory pre-condition for the bond to qualify as a zero-coupon bond and to obtain the special tax treatment of discount. The form collects applicant, bond and investment details so the Central Government can verify tenure, credit rating, listing, investment commitments and reporting undertakings.
March 24, 2026
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Turmeric export disruption hits Marathwada trade as conflict halts shipments and weakens domestic prices.
The conflict involving the US, Israel and Iran has disrupted turmeric exports from Maharashtra's Marathwada region, with shipments to Gulf and African markets reported to have stopped completely. The trade interruption has affected turmeric grown across the region's turmeric belts, including Hingoli, Nanded, Wardha, Parbhani, Yavatmal and Washim. The Vasmat variety from Hingoli received a Geographical Indication tag in 2024, and consignments from Hingoli and adjoining areas are shipped abroad after processing through Tamil Nadu and Kerala.
March 24, 2026
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AI-driven cooperative banking summit spotlights digital innovation, cybersecurity, regulatory compliance and sector-wide collaboration in urban cooperative banks.
The Bharat Cooperative Banking Summit & Awards 2026 is a three-day forum for urban cooperative banks focused on AI-driven cooperative banking, digital innovation, cybersecurity, regulatory technology, operational resilience and regulatory compliance. It brings together senior leaders, policymakers, regulators, fintech partners and technology providers for collaboration, knowledge exchange and alignment with evolving digital and regulatory expectations. The awards segment recognises excellence in leadership, innovation, governance, financial inclusion, digital transformation and service within the cooperative movement.
March 24, 2026
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Zero Coupon Bond notification requires mandatory advance filing of Form No. 2 with prescribed details and supporting documents.
Form No. 2 is the prescribed electronic application under rule 7 of the Income-tax Rules for notification of a Zero Coupon Bond under section 2(112) of the Act. Filing is mandatory before issue, must be made at least three months in advance, and is issue-specific. It is to be filed by an infrastructure capital company, infrastructure capital fund, infrastructure debt fund, or public sector company with the required details and supporting annexures.
March 24, 2026
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Client code modification reporting requires monthly online filing by stock exchanges for cash and derivative transactions.
A monthly statement is required from stock exchanges reporting modified client code transactions in cash and derivative market transactions. The form must be filed online by all stock exchanges through the income tax e-filing portal, and its smart-form format captures basic exchange details. The format also incorporates commodity derivative details previously associated with Form 3BC, which has been rendered redundant, while no other changes are made to the Cash Market and Derivative Market tables.
March 24, 2026
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Stock exchange reporting rules require monthly filing of client code modification statements through the e-filing portal.
Form No. 1 is a mandatory monthly statement to be furnished by a stock exchange for transactions in which client codes have been modified after registration in the system. It applies to both cash and derivative markets, must be filed within 15 days from the end of each relevant month, and is submitted only online through the Income Tax e-Filing portal. Once filed and acknowledged, it cannot be edited, and submission requires a valid PAN.
March 24, 2026
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Tax Year transition and repeal savings preserve continuity while the Income-tax Act, 2025 simplifies compliance and reorganises filings.
The Income-tax Act, 2025 replaces the Income-tax Act, 1961 as a streamlined and modernised code, while preserving the underlying tax policy, continuity of pending matters, and the existing compliance architecture. The new Act substitutes the concept of Assessment Year with Tax Year, applies prospectively from 1 April 2026, and continues the old Act for tax years beginning before that date. Transitional provisions preserve rights, liabilities, pending proceedings, tax payments, return filing, reassessment, appeals, deductions, and losses under the repealed Act, while the new Act reorganises forms, withholding provisions, and compliance statements in simplified and consolidated form.
March 24, 2026
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Anticipatory banking drives India hub expansion for stronger engineering, data, and cloud support across digital banking platforms.
Expansion of a global capability center in India to strengthen engineering, data intelligence and cloud architecture support for a digital sales and service platform used by financial institutions. The India hub is intended to deepen technical capacity for platform development, security, scalability and reliable digital banking delivery, while supporting the company's move toward anticipatory banking through data-driven and AI-enabled capabilities.
March 24, 2026
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Startup incubation and investor access drive Galgotias Investo Pitch 2026 with grants for early-stage ventures.
Galgotias University organised "Galgotias Investo Pitch 2026" to support innovation and entrepreneurship by connecting startups with investors, industry leaders, incubation stakeholders, and government representatives. The event focused on startup scaling, venture capital access, business incubation, mentorship, market entry, and the use of artificial intelligence for scalable and cost-effective business growth. The University also announced an endowment grant for twelve early-stage startups as part of its continued support for the startup ecosystem.
March 24, 2026
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Bancassurance partnership drives digital-first insurance access, streamlined underwriting, and broader financial inclusion across underserved markets.
Strategic bancassurance partnership between Axis Max Life Insurance Limited and YES BANK has been reaffirmed as a long-running distribution alliance focused on digital-first delivery and hyper-personalized protection solutions. The collaboration combines the insurer's protection expertise with the bank's branch network and digital infrastructure to deliver insurance through streamlined customer journeys, including video consultations and agile underwriting, across protection, savings, education planning, retirement planning and wealth creation needs. The partnership is also directed toward expanding insurance access in underserved markets and supporting the objective of "Insurance for All by 2047".
March 24, 2026
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LNG supply disruption and force majeure risk could keep global gas prices elevated for years.
Damage to Qatar's Ras Laffan liquefied natural gas terminal has disrupted a major part of the country's LNG export capacity and may trigger force majeure on long-term supply contracts. The facility is complex, costly to repair, and likely to require a prolonged shutdown and staged restoration because LNG plants must be warmed and cooled slowly. The supply shortfall is likely to keep global LNG prices elevated and may shift some markets toward coal.
March 23, 2026
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RoDTEP benefits restored for exporters as West Asia crisis raises freight costs and disrupts maritime trade.
Restoration of RoDTEP benefits was announced for eligible export products from February 23, 2026 to March 31, 2026, with the rates and value caps applicable on February 22, 2026 restored in full. The measure responds to the West Asia crisis and the resulting disruption to global trade, including higher freight costs, rising insurance premiums, and maritime logistics challenges affecting export consignments moving to or through the region.
March 23, 2026
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Conflict of interest framework strengthens disclosure, recusal, and investment restrictions for top market regulator officials.
Sebi approved a conflict of interest and disclosure framework for its top officials, bringing the Chairman and Whole Time Members within the definition of insider and requiring disclosure of assets, liabilities, and immovable property in specified formats. The framework also provides for ethics infrastructure, a digital conflict-management system, a whistleblower mechanism, recusal procedures, and uniform restrictions on investments and trading in equity and equity-related instruments for senior officials.

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Customs & Trade

Achieving 'Viksit Bharat' requires collective effort of 1.4 bn citizens amid global challenges: Modi

March 28, 2026

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Noida, Mar 28 (PTI) Prime Minister Narendra Modi on Saturday urged citizens to work with dedication and unity to tackle global challenges, and said that the government prioritizes securing India's interests and safeguarding "families and farmers".

Referring to the ongoing conflict in West Asia, while addressing a gathering at the inauguration of the first phase of the Noida International Airport in Jewar, the Prime Minister said achieving "Viksit Bharat" would require collective effort and unity among 1.4 billion citizens.

He stressed that the government's priority is to enhance citizens' convenience by saving time and reducing costs.

"I once again appeal to the people of the country that we must face this crisis calmly, with patience and unity. This is a global crisis, but we must prioritise India's interests. That is our greatest strength," he said.

He said he had discussed the situation in detail in Parliament and also held extensive and "very positive" deliberations with the Chief Ministers of various states.

The Prime Minister urged political parties to refrain from making irresponsible statements during such times.

"Those who make remarks that harm the country may gain some points in political debates, but such actions will never be forgiven by the people," he said, recalling how voters rejected misinformation campaigns during the COVID-19 pandemic.

The remarks come against the backdrop of political controversies during the COVID-19 pandemic, when Samajwadi Party chief Akhilesh Yadav had publicly expressed reluctance to take a COVID-19 vaccine, triggering a political debate over vaccine hesitancy.

The controversy was a talking point in the run-up to the 2022 Uttar Pradesh Assembly elections, in which the Samajwadi Party was defeated, and the BJP retained power.

The PM said that India is confronting the challenges arising from the ongoing conflict in West Asia with full strength.

Highlighting that India depends on crude oil and gas from conflict-affected regions, Modi said: “The government is taking necessary steps to ensure the burden does not fall on families and farmers." Inaugurating phase-I of the Noida International Airport, Modi said, "Today marks the beginning of a new chapter in the journey towards a Viksit Uttar Pradesh and a Viksit Bharat." He said Jewar Airport would boost economic activity in the region. "Noida International Airport will create new opportunities for farmers, small traders and youngsters of Western Uttar Pradesh," he said.

Modi was accompanied by Chief Minister Yogi Adityanath, Civil Aviation Minister Kinjarapu Ram Mohan Naidu and other dignitaries.

Hitting out at the main opposition party in the state, Modi said the Samajwadi Party had turned Noida into an "ATM for loot", but under BJP, it is now emerging as a powerful engine of development.

He added that Noida, once neglected by earlier governments, is now ready to welcome the world, reflecting the spirit of a self-reliant India.

Highlighting the government's aviation policy, Modi said: "We launched the UDAN scheme to ensure that air travel remains within the reach of ordinary families. In the past few years, more than 1.6 crore people have travelled at affordable fares under this scheme." UDAN scheme has recently been expanded with an approved outlay of around Rs 29,000 crore, with plans to develop new airports in smaller cities and build around 200 helipads in the coming years.

Modi said Jewar Airport would benefit a wide region covering Agra, Mathura, Aligarh, Ghaziabad, Meerut, Etawah, Bulandshahr and Faridabad.

Expressing pride, he said Uttar Pradesh now ranks among the states with the highest number of international airports.

Modi said the Jewar area is emerging as a logistics hub with the convergence of dedicated freight corridors at Dadri, enabling faster movement of goods to ports in Bengal and Gujarat.

He recalled that the airport project was first approved in 2003 during the tenure of former Prime Minister Atal Bihari Vajpayee, adding that improved connectivity would enhance food processing and agricultural exports from western Uttar Pradesh.

Modi expressed gratitude to sugarcane farmers, saying ethanol produced from their crop has helped reduce India's dependence on crude oil imports.

He said that without increased ethanol production and its blending with petrol, the country would have had to import an additional 4.5 crore barrels of crude oil annually.

He noted that the initiative has helped save about Rs 1.5 lakh crore in foreign exchange.

Modi said India's aviation sector is growing rapidly, leading to increased demand for aircraft. "These new aircraft and services will require a large workforce for operations, servicing and maintenance. This presents a huge opportunity for the youth," he said.

The Prime Minister highlighted the lack of adequate Maintenance, Repair and Overhaul (MRO) facilities in India in the past, noting that nearly 85 per cent of aircraft had to go abroad for servicing.

"Our government has resolved to make India self-reliant in the MRO sector. Large-scale facilities are now being developed in the country, and an MRO facility has also been launched at Jewar," he said.

Modern transport systems like Metro and Vande Bharat trains are being expanded Modi said, adding “the Delhi-Meerut Namo Bharat train has already benefited more than 2.5 crore passengers, reducing travel time from hours to minutes," he said.

The Prime Minister said the government has made unprecedented investments in the sector over the past 11 years. "The infrastructure budget has increased more than sixfold. About Rs 17 lakh crore has been spent on highways and expressways, and over 1 lakh kilometres of highways have been constructed," he said.

The first phase of the airport, developed at an estimated cost of Rs 11,200 crore, is envisioned as a multi-modal transport hub.

The project includes a cargo hub with an initial handling capacity of over 2.5 lakh metric tonnes annually, expandable to around 18 lakh metric tonnes. The airport's initial passenger handling capacity will be 12 million passengers per annum, scalable up to 70 million. PTI CDN KIS DRR

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