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    'Sense of worry among exporters': Govt approves Rs 497 cr 'RELIEF' scheme amid West Asia disruptions
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March 19, 2026
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Export relief scheme RELIEF extends obligations and subsidises freight/insurance to ease conflict linked logistics disruptions for exporters.
The RELIEF scheme, implemented by ECGC under the Export Promotion Mission with a dedicated financial outlay, provides targeted, time bound measures for exporters affected by West Asia conflict related logistics disruptions. It includes automatic extension of export obligations for Advance Authorisations and EPCG authorisations without penalty, facilitation of ECGC coverage for forthcoming consignments, and partial reimbursement of extraordinary freight and insurance costs for MSMEs lacking ECGC cover. The scheme applies to consignments destined for or transhipped through specified Gulf and West Asia markets and is subject to dashboard monitoring and periodic review by the EPM Steering Committee.
March 19, 2026
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Plug-and-play industrial parks to streamline permits and infrastructure, accelerating establishment of manufacturing ecosystems and investment readiness nationwide.
NICDC will implement the BHAVYA scheme to develop 100 plug-and-play industrial parks with pre-approved land, ready infrastructure, integrated services and streamlined approval mechanisms including single-window systems, aligned to multimodal connectivity and infrastructure planning (including underground utilities) to ensure investment-ready industrial ecosystems.
March 19, 2026
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Ethics concerns prompted board inquiry and regulator engagement, leading to interim chair appointment to preserve governance continuity.
The chairman's resignation citing ethical misalignment prompted the board to seek specific instances and request withdrawal of certain language; unable to secure clarity, the Nomination and Remuneration Committee engaged the banking regulator, which appointed an interim chair to ensure governance continuity. Management maintained there were no substantive issues warranting resignation, described an overseas investigation as closed with accountability fixed, and directed the NRC to address executive reappointment and chairman selection under standard succession processes.
March 19, 2026
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Aadhaar update timelines: call for time bound processing and stronger grievance redressal to reduce RTI and litigation.
Delays and lack of clarity in processing Aadhaar demographic update requests, notably date of birth corrections, led the Commission to urge UIDAI to adopt clear timelines and time bound disposal procedures and to strengthen grievance redressal and public awareness so citizens need not resort to RTI or court petitions.
March 19, 2026
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Export relief scheme RELIEF supports exporters with enhanced insurance cover and reimbursements amid West Asia logistics disruptions.
RELIEF is a time bound Export Promotion Mission intervention designating ECGC Ltd. as the nodal implementing agency to provide enhanced risk coverage for ECGC insured consignments during the disruption period, supported ECGC cover for forthcoming shipments over a defined three month window, and a partial reimbursement mechanism for eligible non insured MSME exporters to offset extraordinary freight and insurance surcharges, subject to documentary verification and notified ceilings; implementation is funded from an approved EPM outlay and monitored via dashboard and periodic steering committee review.
March 19, 2026
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Energy data classified as national security mandates real time disclosure across oil and gas supply chains to central agency.
The Petroleum and Natural Gas (Furnishing of Information) Order, 2026 classifies energy data as national security and requires entities across the petroleum and natural gas supply chain to furnish production, imports, exports, stocks, storage, allocation, transportation, supply, consumption and utilisation data, aggregated or disaggregated by geography, time or consumers, to PPAC in such form, manner, electronic platform and periodicity as specified, and overrides contractual confidentiality or commercial sensitivity claims.
March 19, 2026
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Travel Document Requirements: carry passport, visa, insurance and proof of funds to smooth immigration checks.
Entry into foreign jurisdictions requires organised proof of identity, travel authorisation and intent: carry a valid passport, visa or electronic travel authorisation, proof of onward or return travel and an accessible itinerary in cabin baggage with digital backups. Carry travel insurance documents-policy certificate, coverage summary and emergency contacts-saved offline when required by entry rules. Also present accommodation confirmations, financial evidence and destination-specific health documentation such as vaccination certificates, prescriptions and medical device notes. Consolidate these papers in a single folder and ensure consistency of names and dates across documents.
March 19, 2026
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Export relief scheme extends export obligations and offers logistical and financial support to exporters affected by West Asia conflict.
The government launched a targeted export support scheme to assist exporters disrupted by the West Asia conflict, with ECGC as implementing agency and an inter ministerial group coordinating daily. The scheme covers consignments to specified West Asia destinations and comprises three components: automatic, penalty free extension of Advance Authorisation and EPCG export obligations and protection of insured shipments over an immediate one month window; measures to promote ECGC coverage for upcoming consignments over a three month period; and targeted partial reimbursement of extraordinary freight and insurance costs for MSMEs not covered by ECGC during a specified one month period.
March 19, 2026
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Textile export leadership: Tamil Nadu tops India in textile shipments, surpassing Gujarat and Maharashtra in 2024-25.
Tamil Nadu leads India in textile exports for fiscal year 2024-25 with shipments of USD 7,997.17 million, up from USD 6,193.39 million in 2020-21 and representing 21.84% of national textile exports; Gujarat and Maharashtra follow in second and third place. The National Import-Export Record for Yearly Analysis of Trade is cited as the source, and the state credits cross-departmental schemes for the multifaceted export growth.
March 19, 2026
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GMP compliance as a market access tool: certified divisional containment and neutral code manufacturing enable regulated exports and client reliability.
Alpex Pharma is a certified third party manufacturer holding WHO GMP, GMP, GLP and Ghana GMP credentials, operating three fully separated divisions (General, Beta Lactam, Cephalosporin) with dedicated containment and compliance architectures to prevent cross contamination, enable export compliance, and support neutral code manufacturing partnerships alongside a client centric account management model aligned to regulatory and commercial timelines.
March 19, 2026
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GSTAT e-filing guidance sets out role selection, document upload, payment, digital signing, and filing number generation.
GSTAT e-filing for appeals requires advance preparation through the offline draft Excel sheet, role selection, sequential completion of the appeal form, upload of PDF documents within the prescribed size limit, payment of appeal fee through the approved modes, and digital signing for final submission. The advisory also highlights mandatory vakalatnama requirements for certain representatives, entry of demand details where APL-04 is unavailable, and payment of the pre-deposit required under section 112(8). Successful filing generates a filing number and acknowledgement.
March 19, 2026
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Aadhaar forgery: arrest and seizure of devices as suspect taken for further interrogation and investigation.
Allegations concern a gang producing forged Aadhaar cards and the arrest of an individual alleged to have provided technical assistance to that syndicate; electronic devices and documentary material were recovered during a raid and the suspect was transferred for further interrogation as part of an ongoing inter-district probe.
March 19, 2026
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Textile export leadership shifts as Tamil Nadu becomes nation's top textile exporter, surpassing Gujarat and Maharashtra.
Tamil Nadu has become India's leading state in textile exports for fiscal 2024-25, surpassing Gujarat and Maharashtra, according to national import-export data compiled on a centralised trade-data platform; the state's rise is attributed to coordinated departmental schemes and planned policy measures driving multifaceted growth in the textile sector.
March 19, 2026
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Corporate governance recognition: HDFC Life placed in Leadership category under national scorecard, reaffirming transparency and accountability.
Recognition under the Indian Corporate Governance Scorecard placed HDFC Life in the Leadership category for scoring 75 and above as of 31 December 2025, reflecting the company's commitment to transparency, accountability, and governance practices treated as an organisational value rather than mere compliance within a widely used benchmarking framework.
March 19, 2026
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Merger approval: competition regulator clears Bentley's stake increase in Baby Memorial and BMH's secondary purchase in Unimed.
The Competition Commission approved a two-step Proposed Combination: Bentley Asia will acquire additional shareholding in Baby Memorial Hospital Limited, and BMH will thereafter acquire certain shareholding in Unimed Health Care Private Limited by way of a secondary purchase; the parties include a Singapore investor (Bentley), a multi-specialty hospital network (BMH), and Unimed operating Star Hospitals, with a detailed order to follow.
March 19, 2026
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Women farmer empowerment via month-wise awareness, workshops and crop insurance outreach under a corporate Krishi Sakhi initiative.
AIC launched the Krishi Sakhi Initiative to promote women farmer empowerment and inclusive participation in agriculture and crop insurance through sustained month-wise activities. Operative measures include an introductory awareness video, a staff Walkathon to symbolize support, ground-level workshops and awareness programs on crop insurance benefits, publication of related articles and interviews, and targeted sanitation and hygiene campaigns in rural areas to recognize and engage women farmers.
March 19, 2026
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GST Council authority over tax rates affirmed; no unilateral state proposal to impose heavy tax on online shopping.
The Chief Minister denied evidence of small-trader distress from online shopping, emphasised digital payments' strengthening effect on small businesses, cited interest-free loans to street vendors during COVID-19 as support measures, and stated that proposals to change tax rates on online shopping are initiated, examined and recommended by the GST Council under the GST framework.
March 18, 2026
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Direct tax collections rise driven by stronger corporate tax receipts and lower refund outflows, boosting fiscal cash flows.
Net direct tax receipts increased 7.1 per cent to Rs 22.8 lakh crore till March 17, driven by higher corporate tax mop up and reduced refund outflows; corporate tax rose about 13 per cent while non corporate receipts rose about 3 per cent. Advance tax rose 6.4 per cent in four tranches despite a marginal decline in non corporate advance tax, and gross direct tax collection also increased against the government's Revised Estimates target.
March 18, 2026
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Trade deal impact: tariff asymmetry threatens farmer incomes, prompting calls for MSP guarantee and stronger crop protections.
India-US trade negotiations are depicted as posing asymmetric market access that would expose Indian farmers to tariff-free competition from US agricultural exports while domestic producers face duties, threatening incomes and sectoral competitiveness. Parliamentary interlocutors advocated compensatory domestic measures including a Minimum Support Price guarantee, reorientation of fertiliser subsidies to end-users, reform of the crop insurance scheme to favour farmers, targeted debt relief, and import curbs on selected agricultural commodities to protect farmer livelihoods and national food security.
March 18, 2026
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Constitutional constraints on military deployment limit Japan's warship commitments, shaping talks on security and defence cooperation.
Japan declined to commit warships in response to US requests, citing constitutional constraints, legal questions over the US action, and public opposition; limited non combat missions such as survey, intelligence, or minesweeping are possible only after a ceasefire and with domestic legal authorization. Concurrently, Tokyo is revising defence policy to accelerate long range missile deployment, consider joining a US multi layer missile defence system, and lift the lethal arms exports ban to bolster defence industry cooperation, while pursuing energy and rare earth investment projects to diversify supplies.

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Form 088 – Frequently Asked Questions

March 30, 2026

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Form 088 – Frequently Asked Questions

Form 088 – Application for Information under Section 258(2)(a) of Income Tax Act, 2025

Name of form as per I.T. Rules, 1962

Form 46

Name of form as per I.T. Rules, 2026

Form 088

Corresponding section of I.T. Act, 1961

138(1)(b)

Corresponding section of I.T. Act, 2025

258(2)(a)

Corresponding Rule of I.T. Rules, 1962

113

Corresponding Rule of I.T. Rules, 2026

155

Q1. What is Form 088 and when should it be used?

Ans: Form 088 is used to request specific information relating to a taxpayer under Section 258(2)(a) of the Income-tax Act, 2025. It is used by public authorities authorized by the law or the authorities authorized by the Central Government to request information necessary for statutory, regulatory, investigative, or administrative purposes.

Q2. Who is authorised to file Form 088?

Ans: Form 088 may be filed by:

  • Regulatory or law-enforcement agencies.
  • Government departments authorised under Rule 155.
  • Any competent authority legally empowered by the Central Government to request taxpayer information or authorised under Rule 155 to seek information under Section 258(2)(a).

Private individuals, taxpayers themselves, or unauthorised entities cannot file Form 088.

Q3. Is Form 088 required to be filed online or manually?

Ans: Form 088 is now required to be filed online through the Income-tax Department’s e-Filing portal. The form is to be submitted electronically by the authorised applicant.

Q4. Should a separate Form 088 be filed for each taxpayer or tax year?

Ans: Yes.

A separate Form 088 must be filed for each tax year and each taxpayer as clearly stated in the instructions attached to the form.

Q5. I need information for multiple years for the same taxpayer. Can I submit one consolidated Form 088?

Ans: No.

You must file separate Form 088 applications for each tax year, even for the same taxpayer.

Q6. Do I need to mandatorily provide Aadhaar number in Form 088?

Ans: For individuals, Aadhaar number is required if available, as provided in Part B of Form 088.

For assessees other than individuals, Aadhaar is not applicable.

Q7. The address of the taxpayer is incomplete or partially known. Can I still file Form 088?

Ans: The applicant should provide the address details as completely as possible in accordance with Note 2 of Form 088.

Q8. Is providing the mobile number compulsory in Form 088?

Ans: Providing a mobile number is not mandatory. However, if available, it should be furnished, as it facilitates communication and verification by the Department.

Q9. While filling Part C, what level of detail should be provided under “Specific information sought”?

Ans: You should specify:

  • The exact data required
  • The tax year for which it is required
  • Any internal reference number or case identifier

Avoid broad requests like “All details of taxpayer.” Such requests may be avoided.

Q10. What types of “Reasons for requisition” are acceptable?

Ans: Acceptable reasons include:

  1. Statutory investigations
  2. Regulatory compliance review
  3. Legal proceedings requiring taxpayer information
  4. Inter-departmental coordination based on law
  5. Intelligence or enforcement referrals

Vague reasons like “General inquiry” or “For record purposes” may be avoided.

Q11. Can I attach supporting documents to strengthen my request?

Ans: Yes.

Documents such as departmental letters, authorization orders, case references, or legal provisions may be attached to support the request.

Q12. What documents may be uploaded along with Form 088?

Ans:

The applicant may upload supporting documents such as authorisation orders, official correspondence, internal approvals, or legal references, if any, to substantiate the request. Physical documents, office seal, or stamp are not required in online filing.

Q13. Is digital signature (DSC) required for Form 088?

Ans: Form 088 is filed online through the e-Filing portal and is authenticated through electronic verification by the authorised applicant. Digital Signature Certificate (DSC) is not mandatory unless specifically notified. Physical signature is not required once the form is submitted electronically.

Q14. Will the Income-tax Department reject Form 088?

Ans: Yes, Form 088 can be rejected if:

  • The applicant is not authorised
  • PAN or identity of taxpayer is mismatched or incorrect
  • Information sought is too broad or not legally justified
  • The request falls outside Section 258(2)(a)
  • Mandatory fields are incomplete

However, the reason for rejection will be communicated.

Q15. How will the information requested through Form 088 be shared?

Ans: The information or decision on disclosure is communicated by the jurisdictional Income-tax authority through official correspondence, which may be issued electronically through the e-Filing portal or through other official modes, as applicable.

Q16. My Form 088 submission was returned stating “Incomplete taxpayer details.” What does this mean?

Ans: It means mandatory fields like PAN, taxpayer name, Tax Year, or address were incomplete or inconsistent.

You should verify the entries and resubmit.

Q17. What is the importance of the applicant’s designation and details?

Ans: These details help the Department confirm:

  • Statutory competence
  • Validity of authority
  • Identity of the requester
  • Eligibility under Section 258(2)(a)

Missing or incorrect details can lead to rejection.

Q18. Can a private consultant or CA file Form 088 on behalf of a department or authority?

Ans: No.

Form 088 can only be filed by the competent authority itself.

Q19. How long does it take to receive information after filing Form 088?

Ans: There is no statutory time limit, but normally:

• Basic requests are processed in 15–30 days

• Complex or inter-jurisdictional requests take longer

Q20. What will be the outcome of submission of Form 088 to the jurisdictional Income Tax Authority?

Ans:

You will receive either:

  1. The requested information (partially or fully), or
  2. A written order giving reasons for non-disclosure, such as:
  • Legal restrictions
  • Inadequate justification
  • Jurisdictional issues
  • Confidentiality constraints

Q21. What are the common mistakes to avoid while preparing Form 088?

Ans:

  • Leaving mandatory fields blank
  • Requesting overly broad or vague information
  • Submitting without proper authorization
  • Using personal contact details instead of official ones
  • Not specifying the tax year clearly

Q22. Is there a fee for filing Form 088?

Ans: No.

Form 088 is a statutory request and does not require any fee.

Q23. Can Form 088 be used to request taxpayer records for academic or research purposes?

Ans: No.

Form 088 can only be used for statutory and legally authorised purposes.

Q24. How are annexures and supporting documents to be submitted with online Form 088?

Ans:

In online Form 088:

  • Details under “Specific information sought” and “Reason for seeking information” are to be entered in the prescribed text fields.
  • Where the space is insufficient, annexures can be uploaded electronically in the form, as permitted in Part C and Note 4 of Form 088.
  • Supporting documents such as authorisation orders, official correspondence, or legal references may also be uploaded online. No physical submission of documents is required.

Q25. Are any details pre-filled in online Form 088?

Ans:

Yes, certain information is pre-filled by the system to the extent available on the e-Filing portal, such as:

  • Applicant’s name and designation (where mapped),
  • Official contact details.

The applicant must verify the pre-filled data before submission.

Q26. Will the e-Filing system allow submission of Form 088 for multiple assessees or tax years in one form?

Ans:

No. The online system enforces the requirement that:

  • One Form 088 can be filed only for one assessee and one tax year.

Separate online applications must be filed for each assessee and for each tax year, in line with Note 6 of Form 088.

Q27. How will the applicant know whether Form 088 filed by him/her has been accepted by the Department?

Ans:

After online submission of Form 088, an acknowledgement number is generated on the e-Filing portal. The applicant can track the status of the form (Submitted / Under Processing / Accepted / Returned / Rejected) by logging into the e-Filing account and navigating to e-File → Income Tax Forms → View Filed Forms.

Any communication regarding acceptance, return for defects, or rejection, along with reasons wherever applicable, will be electronically communicated through the e-Filing portal and sent to the registered email ID and mobile number of the applicant.

Topics

Acts Income Tax