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    India-US trade deal will dent income of farmers, adversely impact Indian economy: Opposition MPs in Lok Sabha
    Japan's leader heads to Washington for visit complicated by Iran war fallout
    SC rejects UP power body's claims in Essar Power MP insolvency dispute
    Setco Expands into Brake Disc Segment with Global Multi-Brand Portfolio
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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.
March 18, 2026
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Resolution plan finality prevents reopening admitted contingent claims after implementation, preserving creditor priority and CIRP finality.
The dispute concerns admission of pre insolvency operational claims as contingent claims admitted nominally by the resolution professional while an approved resolution plan provided no payment to operational creditors due to secured financial creditor priority. Appellate tribunals treated the RP's role as administrative and accepted nominal admission where disputes are pending, and the court stressed that the implemented resolution plan is final and reopening settled claims would disrupt the insolvency process.
March 18, 2026
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Brake disc expansion: OEM-grade multi-brand range launched to serve passenger, LCV and MHCV markets and exports.
Setco Auto Systems has introduced a Brake Disc range of over 200 part numbers for 15+ vehicle brands, engineered to meet OEM specifications in ventilated and solid configurations with precision fitment, instant bedding, thermal fade resistance and materials resisting wear, warping and corrosion. The launch targets both OEM and aftermarket channels and leverages Setco's manufacturing capacity, distribution network and export relationships to capitalise on a market shift toward disc brakes.
March 18, 2026
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Cardless cash withdrawals via UPI QR enable instant assisted cash access through merchant business correspondent networks nationwide.
RNFI Services Limited, via its Relipay platform in partnership with Jio Payments Bank, launched a nationwide UPI QR-based cash withdrawal facility enabling cardless assisted cash disbursements at authorised retail outlets within RNFI's Business Correspondent network; customers scan a QR code, enter the withdrawal amount and authenticate with their UPI PIN, after which the merchant dispenses cash, removing the need for ATM cards or biometric authentication and operating across UPI-enabled applications.
March 18, 2026
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Hybrid Annuity Mode highway project approved to deliver access controlled 4 lane connectivity and cross border trade link.
Approval for a 101.515 km 4 lane access controlled Barabanki-Bahraich highway under Hybrid Annuity Mode includes continuous service roads and bypasses to address geometric deficiencies, reduce travel time and improve safety and efficiency; it links national and state highways, airports, railway stations and the Rupaidiha Land Port to enhance multi modal integration and establish a cross border trade corridor to Nepal while supporting regional development and generating substantial employment.
March 18, 2026
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Minimum Support Price funding secures direct price support to cotton farmers through CCI procurement when markets fall below MSP.
The Cabinet approved funding for the Minimum Support Price mechanism for the 2023-24 cotton season, allocating resources to the Cotton Corporation of India (CCI) to provide direct price support by procuring Fair Average Quality cotton without quantitative ceilings whenever market prices fall below MSP. CCI is designated the central nodal agency and will deploy its procurement network across 11 major cotton-growing States, supported by information dissemination, the Bale Identification and Traceability System (BITS) and the "Cott-Ally" mobile application to enhance transparency and outreach.
March 18, 2026
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Industrial infrastructure development enabling plug-and-play parks with streamlined approvals and funding to boost manufacturing and jobs.
The Cabinet approved a centrally funded programme to create plug-and-play industrial parks implemented with States, NICDC and private partners, prioritising streamlined single-window approvals and investor-friendly reforms; funding covers core, value-added and social infrastructure with additional support for external connectivity, project selection by challenge mode, and park design requirements emphasizing multimodal connectivity, underground utility corridors, green energy and cluster-based development to drive investment and employment.
March 18, 2026
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Distribution of court-deposited settlement funds under lenders' agreed formula seeking approval for proportionate payouts to secured banks.
The SBI led consortium seeks court authorisation to disburse funds deposited in the registry pursuant to a settlement by allocating the deposited amount proportionately among secured lenders based on consolidated admitted dues across group companies. The lenders adopted a uniform methodology-aggregating domestic and foreign exposures, converting foreign loans at a fixed exchange rate of Rs 63 per US dollar, applying nine percent interest per annum from NPA date with annual rests, and adjusting amounts recovered through insolvency-to compute each lender's share and propose payment into specified bank accounts.
March 18, 2026
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Tariff policy uncertainty driving higher input costs and deterring investment, worsening supply chain disruptions for manufacturers.
Tariff measures enacted and announced by the executive have raised input costs for many US manufacturers, producing supply chain disruption, higher downstream prices, and employment contraction among small and medium producers. Uncertainty from frequent proclamations, reversals, exemptions and litigation has deterred capital investment and relocation decisions. While some construction and sectoral gains are cited by the administration, those reflect earlier subsidy driven projects rather than a broad manufacturing revival attributable to tariffs, and stakeholders call for targeted relief and clearer, coordinated trade strategies.
March 18, 2026
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Digital data collection for national surveys streamlines submission and reduces processing time via CAPI and AI tools.
Modernisation of NSS data collection uses CAPI and web applications with in-built validation, bilingual interfaces, and chatbot features to enable near real-time submission, supervisory digital monitoring, and reduced processing time for survey outputs; MoSPI publishes an Advance Release Calendar for report schedules and is integrating AI into portals and a website chatbot without a fixed full-implementation timeline.
March 18, 2026
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Cluster rejuvenation for export competitiveness: integrated infrastructure, MSME centric reforms and industry led governance drive implementation.
Rejuvenation of export oriented industrial clusters requires integrated infrastructure upgradation, technology adoption, capacity building and strengthened domestic manufacturing. Emphasis on enhanced testing, certification and quality infrastructure, promotion of innovation and technology commercialisation, and sustainable financing models. MSMEs are central, needing improved access to finance, capability enhancement and integration into global value chains. Implementation should adopt industry led governance via Special Purpose Vehicles, cluster level facilitation systems, regulatory simplification, and greater state and district flexibility to translate policy into actionable, demand aligned interventions.
March 18, 2026
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Energy security: port maritime coordination ensured safe crude handling to sustain imports despite regional supply-route disruptions.
Arrival of tanker Jag Laadki at Mundra Port demonstrates the port operator's role in ensuring safe berthing and maritime coordination to maintain crude import handling amid regional hostilities. The event highlights legal-regulatory implications for port responsibilities in maritime safety and security, the impact of Strait of Hormuz disruptions on India's import-dependent energy supply, and the consequent need for sourcing diversification and resilient port governance to uphold refinery feedstock continuity.
March 18, 2026
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NBFC registration permits deposit-taking and consumer EMI lending after KYC and instant credit limit approval.
Bajaj Finance Limited is a registered NBFC-D and classified as an NBFC-ICC, authorised to lend and accept deposits. It markets the Bajaj Finserv Easy EMI Loan to convert retail appliance purchases into monthly instalments: customers complete basic KYC (mobile number and PAN), receive an instant approved limit, and finalise EMI tenure and paperwork at partner stores. Promotional terms such as zero down payment and cashback vary by store and offers, and standard disclaimers apply.
March 18, 2026
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Trade surplus driven by export growth offsets rising import costs as tariffs and energy shocks shape trade dynamics.
Japan swung to a February trade surplus as stronger-than-expected export growth, supported by Europe and other Asian markets and aided by currency depreciation, offset rising import costs driven by higher energy prices and geopolitical tensions; shipments to China and the US fell, with auto exports hit by US tariffs, while markets watch central bank policy and impending bilateral talks that may affect trade dynamics.
March 17, 2026
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Domestic LPG production increased to secure household cooking fuel supplies amid supply-route disruptions and import risks.
Domestic LPG production has been increased by diverting propane, butane, propylene and butane streams from refineries and petrochemical complexes into the LPG pool, raising domestic capacity by about twenty-five percent and allocating the full increment to domestic consumers to ensure steady household cooking gas supplies amid Strait of Hormuz-related supply risks; fertiliser stocks are adequate for Kharif and global bidding for Rabi nutrient imports will commence.
March 17, 2026
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Women representation in startups highlighted as government schemes channel targeted funding and guarantees to women-led ventures.
Women representation in DPIIT recognised startups is quantified alongside MCA corporate status data identifying closed entities with female participation. Government support schemes-FFS, SISFS, and CGSS-are described with scheme mechanics, cumulative amounts channelled through AIFs, incubators, and guarantee arrangements, and specified allocations reported to women led startups. Scheme selection counts and corresponding numbers of supported startups later categorized as closed are tabulated, while State/UT and year wise annexures detail recognised and closed entities with at least one woman director/partner.
March 17, 2026
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Disclosure of deceased account details: call for policy to enable legal heirs to access information on unclaimed accounts.
The Supreme Court queried the Centre and the Reserve Bank of India on why details of deceased persons' bank accounts cannot be disclosed to legal heirs and directed the government to devise a policy. A PIL seeks a mechanism to inform heirs about unclaimed deposits and creation of a Centralised and Searchable Database under RBI control to trace accounts; the petition also asks for procedures to minimise litigation and notes the Depositor Education and Awareness Fund as a source for refunding genuine heirs.
March 17, 2026
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Focused sourcing platform connects verified international buyers with export-ready manufacturers for streamlined finished-plastics trade.
PlastiWorld 2026 is a dedicated sourcing platform for finished plastic products that connects verified international buyers with India's export-ready manufacturers by excluding upstream suppliers and employing category-wise product zoning to streamline supplier discovery, enable targeted comparisons within product segments, and enhance trade engagement to support export growth.
March 17, 2026
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CSR compliance obligations: statutory penalties apply for company and officer defaults, enforcement follows Companies Act procedures.
The statutory CSR regime obliges certain profitable companies to allocate prescribed portions of profit to CSR; boards decide amounts and projects, and both companies and officers in default face penalties under the Companies Act and CSR Rules. Enforcement is initiated after examination and due process upon reported violations, and while the ministry may request companies to undertake projects in particular states, directing board spending raises legal limits.

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Form 99 – Frequently Asked Questions (FAQ)

March 30, 2026

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Form 99 – Frequently Asked Questions (FAQ)

Appeal to the Joint commissioner of Income-tax

(Appeals) or the Commissioner of Income-tax (Appeals)

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

Form 35

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

99

Corresponding section of I.T. Act, 1961

249

Corresponding section of I.T. Act, 2025

358

Corresponding Rule of I.T. Rules, 1962

45

Corresponding Rule of I.T. Rules, 2026

167

1. What is Form 99?

Ans: Form 99 is the prescribed electronic form for filing an appeal before the Joint Commissioner of Income-tax (Appeals) or the Commissioner of Income-tax (Appeals) against a relevant order passed by an Income-tax Authority under the Income-tax Act, 2025.

2. Who can file Form 99?

Ans: Form 99 can be filed by an appellant who is aggrieved by an appealable order passed by an Income-tax Authority under sections 356 or 357 of the Income-tax Act, 2025

3. Is filing of Form 99 mandatory?

Ans: No. Filing of Form 99 is optional.

It is required only if the assessee chooses to prefer an appeal against the relevant order instead of accepting the order or opting for any alternative remedy provided under the Act.

4. What is the time limit for filing Form 99?

Ans: The appeal should be presented within 30 days of the following date:

(a) Where the appeal relates to any assessment or penalty, the date of service of notice of demand relating to the assessment or penalty.

(b) In any other case, the date on which intimation of the order sought to be appealed against is served

5. What details are required in Part A of Form 99?

Ans: Part A requires personal and identification details of the appellant, including:

  • Name
  • Complete address
  • PAN
  • TAN (mandatory in appeals against TDS orders)
  • Updated mobile number and email ID

Most details will be auto-populated but can be edited, where permitted.

6. What information is required in Part B relating to the relevant order?

Ans: Part B captures details of the order against which appeal is filed, including:

  • Relevant tax year or block period
  • DIN of the Order against which Appeal is preferred
  • Section and sub-section of the Order against which Appeal is preferred
  • Date of order
  • Date of service of notice of demand, in case the Appeal is preferred against an Assessment Order or Penalty Order
  • Details of the Income-tax Authority passing the order
  • Jurisdictional Assessing Officer details

7. How should Tax Year or Block Period be selected in Form 99?

Ans: The appellant must select either:

  • Tax Year, or
  • Block Period,

depending on whether the appeal relates to a regular assessment or to an order passed under sections 294 or 298 of the Income-tax Act, 2025.

8. Is payment of tax a pre-condition for filing Form 99?

Ans: Yes. Filing of Form 99 is subject to compliance with statutory conditions regarding payment of tax, including:

  • Payment of tax due on income returned, where a return has been filed, or
  • Payment of advance tax as prescribed under section 358(6)(b), where no return has been filed, as applicable.
  • Deposit of tax, borne by the deductor, if the appeal relates to any tax deductible on payments to Non – Residents as mentioned under section 393(2)

9. What details are required in Part D (Appeal Details)?

Ans: Part D captures quantitative details of disputed amounts, depending on the nature of the Orders against which appeal is preferred, such as:

  • Block assessment cases
  • Regular assessment or loss cases
  • Penalty matters
  • TDS/TCS default cases

Auto-populated figures must be verified, and only the disputed amounts are to be entered by the appellant.

10. What information is required in Part E relating to pending appeals?

Ans: Part E seeks disclosure of whether any other appeal of the same taxpayer is pending before any Joint Commissioner (Appeals) or Commissioner (Appeals). This information may be auto-populated and can be edited to provide additional details.

11. What is required to be filed in Part F of Form 99?

Ans: Part F requires filing of:

  • Statement of Facts
  • Grounds of Appeal, with each ground not exceeding 100 words
  • Relevant sections cited, amount involved, and status of similar grounds already decided in prior appeals if any
  • Additional documentary evidence, if any, in accordance with rule 192
  • Details of Declaration filed in Form No.117, in case the tax payer claims identical question of law is pending before High Court or Supreme Court (repetitive appeal).

12. Can additional evidence be filed along with Form 99?

Ans: Yes. Additional documentary evidence may be filed, subject to:

  • Selection of “Yes” in the relevant field, and
  • Upload of details linking each document to the specific grounds of appeal, and
  • Compliance with rule 192 of the Income-tax Rules.

13. What details are required in Part G relating to filing of appeal?

Ans: Part G requires furnishing of:

  • Due date of filing appeal
  • Whether there is any delay in filing
  • Grounds for condonation of delay, if applicable
  • Details of appeal fees paid
  • Supporting documents relevant to the grounds of appeal

14. What happens if there is a delay in filing Form 99?

Ans: In case of delay, the appellant must:

  • Select “Yes” in the relevant field, and
  • Upload a separate statement explaining the grounds for condonation of delay.

15. Can Form 99 be filed offline?

Ans: Form 99 is required to be filed electronically through the prescribed income-tax e-filing system in cases where e-filing of return of income is mandatory for the appellant.

16. Can Form 99 be revised after filing?

Ans: No. Once Form 99 is filed and verified, it cannot be revised. The appellant should carefully review all details before submission.

17. Who can verify Form 99?

Ans: Form 99 must be verified by the appellant or by an authorised person who is competent to verify the return of income under section 265 of Income Tax Act, 2025.

18. Can Appeal be filed in cases where immunity u/s 440 of the Income Tax Act 2025, is also sought?

Ans: No. The appellant or the authorised person who is verifying Form 99, has to certify in the verification that no immunity u/s 440 of the Income Tax Act, 2025 is filed.

19. Why is Form 99 important?

Ans: Form 99 enables:

  • Statutory redressal of grievances against assessment and other orders
  • Structured presentation of disputed issues
  • Filing of appeals in a transparent and standardised electronic manner
  • Effective functioning of the appellate mechanism under the Income-tax Act, 2025  

Topics

Acts Income Tax