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    PAN Health Wins ‘Excellence in Manufacturing – Healthcare & Pharmaceuticals’ at ET Entrepreneur Awards 2026
    US report flags high import duties, non-tariff barriers in India
    Rupee rises 15 paise to 94.70 against US dollar in early trade
    CBDT signs record 219 Advance Pricing Agreements (APAs) in FY 2025–26, taking total number of APAs beyond milestone of 1000 (i.e. 1034) since incept...
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April 1, 2026
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Manufacturing excellence drives PAN Health's recognition for scale, quality, and growth in disposable personal hygiene products.
PAN Health received the 'Excellence in Manufacturing - Healthcare & Pharmaceuticals' award at the ET Entrepreneur Awards 2026 for its manufacturing scale, quality focus, and contribution to the disposable personal hygiene sector. The company is presented as a fast-growing Indian manufacturer aligned with the Make in India vision, operating a large facility in Rajkot, Gujarat, and producing multiple categories of hygiene products under brands including Little Angel, Liberty, and Everteen.
April 1, 2026
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Trade barriers and tariff flexibility in India draw fresh US concerns over market access, standards and digital restrictions.
The report says India maintains high applied import duties and wide tariff flexibility, while also using numerous non-tariff barriers such as licensing requirements, Quality Control Orders, customs barriers, testing and certification mandates, and price controls. It further criticises opaque quantitative restrictions, burdensome import licensing for remanufactured goods, discretionary tariff changes, and complex customs exemptions. The report also flags concerns over standards, government procurement, foreign equity limits, digital trade barriers and internet shutdowns affecting market access and commercial operations.
April 1, 2026
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Net open position cap for banks tightened to curb foreign exchange exposure and reinforce currency risk management.
RBI capped the Net Open Position in Indian rupees for banks at USD 100 million, with compliance required by April 10, 2026. The measure requires banks to reduce currency exposure and align positions with the prescribed limit, reflecting regulatory control over foreign exchange exposure and risk management in bank dealings.
April 1, 2026
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Advance Pricing Agreements boost transfer pricing certainty as safe harbour reforms streamline compliance and strengthen business certainty.
CBDT signed a record number of Advance Pricing Agreements with Indian taxpayers in FY 2025-26, including unilateral and bilateral agreements, taking the cumulative APA count beyond the 1,000-mark since inception. The APA programme is described as a mechanism for strengthening transfer pricing certainty, easing compliance, and improving ease of business. Safe Harbour Rules complement the framework by prescribing fixed margins for specified international transactions, while recent reforms consolidate technology service categories, raise the eligibility threshold, and introduce a more automated process.
April 1, 2026
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Domestic satellite preference and internet shutdown controls are flagged as trade barriers affecting satellite services and digital commerce.
Preference for domestic satellites in direct-to-home television services, restrictions on direct foreign contracting, and procedural delays in accessing foreign satellite capacity are described as barriers to foreign trade. The report also urges an open skies satellite policy to expand market access. Localised internet shutdowns and increased takedown requests are said to impede the digital economy, while satellite communication providers face security instructions on interception, blocking, routing, registration, disclosure, geo-fencing, data localisation, and phased sourcing of ground infrastructure.
March 31, 2026
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Disproportionate assets probe leads to recovery of cash, vehicles and property documents from senior officials.
Police action against two senior Bihar government officers for alleged possession of disproportionate assets led to searches at multiple locations and recovery of property documents, cash, luxury items and vehicle records. The Economic Offences Unit registered separate FIRs against Kishanganj SDPO Gautam Kumar and Saharsa DRDA director Vaibhav Kumar after preliminary findings indicated assets allegedly far in excess of their known income, with suspected benami properties and investments traced to family members and associates. Searches yielded documents relating to numerous land parcels, residential property, insurance and financial investments, bank deposits, cash, luxury watches, high-end vehicles and other valuables.
March 31, 2026
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Free trade agreements and apple imports raise concerns over Himachal orchardists' economic interests and market competitiveness.
Himachal Pradesh's apple sector was discussed in the context of free trade agreements with the European Union, the United States, New Zealand and other countries, with concern that lower import duties on apples could affect the economic interests of local growers. A private resolution urged the central government to frame a policy to safeguard orchardists, and the government accepted the resolution. The debate also noted that Himachal apples must improve in quality to compete with imports and that the state lags behind those markets in quality standards.
March 31, 2026
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Sanctions waiver revives Iranian crude trade as a cargo heads to Gujarat amid refinery inventory pressures.
India's crude oil trade may see a renewed shipment of Iranian oil after a sanctions waiver allowed oil "on the water" to be purchased for a limited period. A vessel carrying about 600,000 barrels of Iranian crude has reportedly been observed heading toward Vadinar in Gujarat, marking the first such delivery since imports stopped in 2019 after sanctions tightening. The development is linked to Indian refiners' need for cargoes amid tightening inventories, while the government has stated that any resumption of purchases will depend on techno-commercial feasibility.
March 31, 2026
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Registered non-profit organisation audit reporting in Form 112 standardises income, foreign contribution, and related person disclosures.
Form 112 is the annual audit report required to be furnished electronically under section 348 for a registered non-profit organisation whose total income exceeds the maximum amount not chargeable to income-tax in the relevant tax year. The form is filed through the e-filing portal on or before 30 September of the following year, with a Chartered Accountant certificate and annexure covering audited particulars, income classification, application of income, donations, related person transactions, specified violations, loans, borrowings, and supporting schedules. The guidance also consolidates earlier audit forms into a common Form 112 with different schedules for small and large registered non-profit organisations.
March 31, 2026
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Electronic audit report filing for registered non-profit organisations is mandatory, time-bound, and tied to exemption eligibility under the income-tax law.
Form 112 is the electronic audit report prescribed under section 348 of the Income-tax Act, 2025, for a registered non-profit organisation whose income exceeds the basic non-taxable limit. It must be filed annually through the e-filing portal, one month before the due date for the return of income, and cannot be edited after acknowledgment or filed offline. PAN is mandatory, and supporting documents include registration papers, audited financials, related forms, FCRA records, AIS, and TDS returns.
March 31, 2026
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Research-academia collaboration in cement and construction advances joint innovation, training, and sector-wide capacity building.
Strengthening research-academia collaboration in the cement and construction sector is pursued through a Memorandum of Understanding between the National Council for Cement and Building Materials and Delhi Technological University. The arrangement is directed toward joint research and innovation in cement and concrete technologies, along with training opportunities for students, professionals and other stakeholders. It also supports skill development and capacity building across the sector, with an emphasis on sharing technical knowledge, best practices and industry-relevant expertise.
March 31, 2026
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E-commerce export and courier trade reforms remove value caps, add Return to Origin processing, and simplify returns handling.
CBIC operationalised reforms for e-commerce exports and courier-based trade to improve ease of doing business, reduce logistics inefficiencies, and strengthen export competitiveness. The reforms remove the value cap on commercial courier export consignments, introduce a Return to Origin mechanism for uncleared or unclaimed imports after 15 days, and simplify re-import of returned or rejected goods through a risk-based approach and system-based processing.
March 31, 2026
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Amendment to accumulated income purpose through Form 110 requires electronic filing and Assessing Officer decision.
FORM 110 is an electronic application for a registered non-profit organisation seeking approval to amend the original purpose for which income was accumulated or set apart for a particular tax-year. It is filed on the e-filing portal before expiry of the period prescribed under Form 109 and must include details of the earlier Form 109, the proposed amendment, the amount unapplied, the reasons for the change, and an undertaking. The application is then forwarded to the jurisdictional Assessing Officer for decision and order in the prescribed ITNS form under section 342(6).
March 31, 2026
Show AI Summary
Change of purpose for accumulated income requires online FN 110 filing and approval before amended utilisation.
FN 110 is the prescribed digital application for a registered non-profit organisation seeking approval to amend the original purpose stated in FN 109 for income accumulated or set apart for a particular tax year. The form is mandatory when such amendment is proposed, must be filed online through the e-filing portal, requires a valid PAN, and cannot be filed offline or edited after submission. After filing and acceptance in FN 111, the accumulated or set-apart amount may be applied toward the amended purpose as approved.
March 31, 2026
Show AI Summary
Accumulation or set-aside of income by non-profit organisations requires annual electronic disclosure in Form 109.
Form 109 is an annual electronic statement for a registered non-profit organisation to report regular income accumulated or set apart under section 342(1) of the Income Tax Act, 2025. It must be furnished on the e-filing portal before the due date for filing the return of income and includes details of the amount, purpose, period of accumulation, prior-year accumulations, and any non-application due to injunction or court order. The reported amount may be claimed in a subsequent return for application within five tax years.
March 31, 2026
Show AI Summary
Accumulation of income by non-profit organisations requires timely electronic filing of FN 109 with a valid PAN.
Registered non-profit organisations may furnish FN 109 electronically or digitally to indicate accumulation or setting apart of regular income under section 342(1) of the Income-tax Act, 2025, for application in subsequent tax years for a period not exceeding five tax years. The form is mandatory for claiming the accumulated or set-apart amount, must be filed by the return due date, requires a valid PAN, and is submitted online to the Commissioner of Income Tax (CPC) through the e-filing portal. It cannot be edited after submission or filed offline.
March 31, 2026
Show AI Summary
Deemed application for non-profit income requires electronic filing of Form 108 before the return due date.
Form 108 requires a registered non-profit organisation to electronically furnish a statement exercising the option under section 341(7) for treating regular income as deemed application under section 341(5). The annual filing is due before the return of income due date and covers computation of the shortfall in application and the reasons for that shortfall. A reported shortfall may be claimed as deemed application in the subsequent return of income.
March 31, 2026
Show AI Summary
Deemed application of income under FN 108 requires timely online filing by registered non-profit organisations.
Registered non-profit organisations may use FN 108 as the electronic statement for exercising the option to treat a shortfall in application of income as deemed application where income could not be applied because it was not received during the relevant tax year. The form is mandatory for such a claim, must be filed online by the return filing due date, requires a valid PAN, and cannot be edited after submission.
March 31, 2026
Show AI Summary
Registration and approval conditions under Form 107 govern validity, disclosure, commercial activity, and cancellation safeguards.
Form No. 107 is the written order passed by the jurisdictional Principal Commissioner or Commissioner on an application in Form No. 105 for regular registration or approval, rejection of the application, cancellation of registration or approval, or a mixed order granting one section code while rejecting another. It records applicant particulars, the unique registration or approval number, the section, date, nature of activity, validity period and relevant tax years, and where applicable the reasons for rejection or cancellation. The form also sets out conditions on application of income, commercial activities, books of account, compliance with law, and true and complete disclosure.
March 31, 2026
Show AI Summary
Registration and approval orders under Form 107 govern grant, rejection, cancellation, and validity periods for eligible applicants.
Form No. 107 is the written order by which the jurisdictional Principal Commissioner or Commissioner grants regular registration or approval, rejects the application, cancels registration or approval, or grants one section code while rejecting the other. It is passed on receipt of Form No. 105, ordinarily within six months from the end of the quarter in which the application is made. The order may issue a 16 digit alphanumeric Unique Registration Number, and the validity of regular registration or approval is generally five tax years, with stated exceptions extending validity in specified cases.

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Oppn playing politics on West Asia crisis, alleges Rijiju amid heated exchanges with LoP Kharge

April 1, 2026

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New Delhi, Apr 1 (PTI) The Rajya Sabha on Wednesday witnessed sharp exchanges between Leader of Opposition Mallikarjun Kharge and Parliamentary Affairs Minister Kiren Rijiju, who accused the opposition of indulging in politics at a time when the country should be united in the face of the West Asia conflict.

Tempers flared up as Kharge questioned why the government was not holding a discussion on the West Asia crisis in Parliament and attacked Prime Minister Narendra Modi for not being present at the all-party meeting on the issue.

Rijiju hit back at Kharge, accusing him of failing to uphold the dignity of his post by making "irresponsible" statements and "abusing" the prime minister.

He said none of the Leaders of Opposition (LoPs) attended the all-party meeting, adding that it was unfortunate that the opposition was "playing politics" over the issue.

Kharge condemned the minister's remarks and demanded that he withdraw them. He also accused the ministers of being "dummy", alleging that they held no powers.

"Should we attend to listen to your lecture? What authority do you have? You are all dummy ministers. You don't have power. I condemn such a statement," the Leader of Opposition said.

Rijiju said the Leader of Opposition should talk responsibly while upholding the dignity of the position he holds. "He does not uphold the dignity of his position. He himself gives irresponsible statements. Their Leader of Opposition in Lok Sabha also is like that ...," the minister alleged.

Earlier, after Chairman C P Radhakrishnan announced the start of the Question Hour, Rijiju urged the House to sit till late in the evening to take up the government agenda listed for the day.

The Chairman said the House will skip lunch for the day and will sit till late in the evening to clear the government's legislative business, which includes the Central Armed Police Forces (General Administration) Bill 2026 and The Insolvency and Bankruptcy Code (Amendment) Bill, 2026.

The government has also listed a statutory resolution for levying Special Additional Excise Duty on Aviation Turbine Fuel (ATF) with a prescribed rate of Rs 50 per litre on ATF.

Rijiju said the BJP is ready to sacrifice some of the allotted time remaining with it on the CAPF Bill. "I will not tell other members to sacrifice their time, but we will sacrifice our time as some of our members will speak but for a lesser time. If it is required, we can sit a little after 6 PM," he said.

Reacting to it, Kharge accused the government of forcing its agenda while failing to pay heed to the opposition's concerns. "They bring bills whenever they want. They are ready for a discussion anytime and come out with a statement anytime." The Leader of Opposition said he has written to the Chair twice for taking up a short-duration discussion on the West Asia conflict, but no time has been allotted. "The entire world is suffering due to LPG, gas and other things and prices are rising here. But why are they not agreeing to a discussion?" "Whatever we suggest, they disagree. And, whatever they want, they put (in the agenda) and declare forcibly with a voice vote. What is this? Is it democracy?" he asked.

Addressing the Chairman, he said, "We thought that after you came, the opposition would get more justice." The Chairman countered Kharge, saying, "You are getting more time than the treasury benches; I will give you the data." Rijiju then said that many members raised the West Asia issue in the business advisory committee meeting, where it was stated that the government is not running away from a discussion.

"What the Leader of Opposition is saying is not right. Firstly, the ministers concerned made their statements in both the Lok Sabha and the Rajya Sabha. Then the prime minister made a detailed statement in Parliament.

"There is a problem here. They want to speak what they want, but they don't want to listen. It is just the opposite happening here. They accuse us but don't listen to the government here," the Parliamentary Affairs minister said.

He said that when an all-party meeting on the West Asia crisis was convened, none of the leaders of the opposition from both Lok Sabha and Rajya Sabha attended, even though Congress members and those of other opposition parties were present.

During the discussion on the finance bill, he said, opposition members only spoke about LPG, petrol and diesel. He said the finance minister gave a detailed reply, and the prime minister had a detailed discussion with state chief ministers via video conferencing.

He said the finance minister told both Lok Sabha and Rajya Sabha about the steps taken to tackle the crisis and to control the prices, as they have skyrocketed across the world, while there has been no increase in India.

The excise duty has been reduced and "despite handling the situation so well, you (opposition) play politics on the issue", Rijiju lashed out at the opposition.

"Is this an issue to play politics on. There is a crisis in our neighbourhood from where petrol and gas are supplied. The war is not happening because of us. In such a crisis, the opposition is playing politics. It is so unfortunate. This is time for the entire country to stand united. This is not the time for playing politics," Rijiju said.

Countering Rijiju, Kharge said, "Where was your prime minister. Where was he? You were there as the government representative; I had also sent our representative. Your prime minister was not there. Should we attend to listen to your lecture? What authority do you have...." Hitting back, Rijiju said they have always given respect to the Leader of Opposition.

"They only indulge in abusing the prime minister, both inside and outside the Parliament, day in and out. We consider the leader of opposition as senior and think he would talk responsibly while upholding the dignity of the position he holds.

"He does not uphold the dignity of his position. He himself gives irresponsible statements. Their leader of opposition in Lok Sabha also is like that ...," the minister alleged.

The Chairman then announced that the Question Hour will be taken up. PTI SKC RT

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