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March 30, 2026
Guidance Note – Form 89
Show AI Summary
Electronic information disclosure under the Income-tax Act, 2025 uses Form 89 for structured, traceable furnishing or refusal.
Form 89 is the electronic statutory form used by the designated Income-tax authority to furnish permissible information in response to a valid application by an authorised public authority under section 258(2)(a) of the Income-tax Act, 2025, for a specified assessee and a single tax year. It is an event-based form, furnished through the Department's system with DIN and system-generated authentication, and is linked to the corresponding application in Form 88. The form contains assessee particulars in Part A and disclosure-limited information details in Part B, and it also allows recording of refusal, wholly or partly, where disclosure is not considered to be in the public interest.
March 30, 2026
Form 089 – Frequently Asked Questions
Show AI Summary
Taxpayer information disclosure under authorised application governs Form 089, with electronic furnishing and limited, confidential disclosure.
Form 089 is the statutory online form used by designated income-tax authorities to furnish taxpayer-related information in response to a valid application made by an authorised public authority under section 258(2)(a) of the Income-tax Act, 2025. It is tax-year specific, furnished electronically, and may be used only for information available in departmental records and within the permissible scope of disclosure. The authority may refuse disclosure for unauthorised, invalid, incomplete, or overbroad requests, and the reasons must be recorded electronically.
March 30, 2026
Guidance Note – Form 88
Show AI Summary
Assessee information requests under the Income-tax Act now require online Form 88 filing by authorised public authorities only.
Form 88 is the prescribed application for obtaining information about an assessee under Section 258(2)(a) of the Income-tax Act, 2025. It is available only to authorised public authorities, including regulatory and law-enforcement agencies, government departments authorised under Rule 155, and other competent authorities empowered by the Central Government. A separate application is required for each assessee and each tax year; consolidated requests are not allowed. The form must be filed online through the e-Filing portal with electronic verification and supporting documents uploaded electronically.
March 30, 2026
WTO meet concludes; no consensus on extension of e-commerce duty moratorium
Show AI Summary
E-commerce duty moratorium ends unresolved as WTO members defer tariff and TRIPS safeguards talks.
The World Trade Organization meeting ended without consensus on extending the moratorium on customs duties on electronic transmissions, leaving the issue of tariffs on digital downloads and streaming unresolved. The lapse of the moratorium also coincided with the expiry of the TRIPS non-violation complaint safeguard, increasing the possibility of challenges to WTO-compliant measures and reducing policy space for developing countries. Related WTO reform and e-commerce work programme discussions were also deferred for continued negotiation in Geneva.
March 30, 2026
Insolvency law main factor in improving health of country's banking sector: FM in Lok Sabha
Show AI Summary
Insolvency and bankruptcy reform drives banking health, with proposed changes aimed at faster admission of resolution applications.
The Insolvency and Bankruptcy Code is described as a central mechanism for improving banking sector health through recovery of non-performing assets under the insolvency resolution process. The proposed amendment Bill seeks further changes to the framework, including measures to reduce the time taken for admission of insolvency resolution applications, while the resolution process is said to have coincided with better company performance and improved corporate governance.
March 30, 2026
Form 088 – Frequently Asked Questions
Show AI Summary
Taxpayer information requests under Form 088 require authorised filing, specific grounds, separate tax year submissions, and electronic portal authentication.
Form 088 is the online application used by authorised public authorities, regulatory bodies, law-enforcement agencies, and other competent authorities to seek specific taxpayer information under Section 258(2)(a) of the Income-tax Act, 2025. It must be filed separately for each taxpayer and each tax year through the e-Filing portal, with narrowly framed particulars, stated reasons, and supporting authorisation where necessary. Incomplete, overbroad, or unauthorised requests may be returned or rejected, and communications are issued electronically with portal-based status tracking.
March 30, 2026
Guidance Note – Form 81
Show AI Summary
Tonnage Tax Scheme audit report filing requires accountant certification, supporting annexures, and electronic submission within the specified date.
Form No. 81 is prescribed for furnishing the audit report under section 232(21) for a company that has opted for taxation under the Tonnage Tax Scheme. The report, prepared and certified by an accountant, verifies books of account, computation of shipping income, compliance with charter-in limits, and other statutory conditions. It is to be furnished on or before the specified date and may include annexures such as charter arrangement certificates, related party notes, asset notes, and loss statements.
March 30, 2026
Form 81 – Frequently Asked Questions
Show AI Summary
Tonnage Tax Scheme reporting requires accountant certification, separate books, and detailed disclosure of shipping income and compliance.
Form 81 is an accountant's report for a company opting for the Tonnage Tax Scheme, certifying the correctness of books of account and income computation for qualifying ships. It requires separate books, disclosure of charter-in compliance, shipping income, statutory reserve details, ship-wise tonnage income, related party transactions, depreciation, non-exclusive assets, and losses, with mandatory annexures where applicable and reasons for any negative or qualified answers.
March 30, 2026
Guidance Note – Form 80
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Tonnage Tax Scheme option filing requires Form 80, supporting vessel documents, and electronic verification of eligibility.
Form No. 80 is the prescribed electronic application for an Indian company engaged in operating ships or inland vessels to exercise or renew the option to be governed by the Tonnage Tax Scheme. It requires particulars of the applicant, ships or inland vessels, supporting certificates and approvals, and is used to verify whether the statutory conditions for coverage under Chapter XII-G are satisfied.
March 30, 2026
Form 80 – Frequently Asked Questions
Show AI Summary
Tonnage tax scheme application rules govern Form 80 filing, renewal, verification, completeness, and false statement liability.
Form 80 is the mandatory application for an eligible Indian company engaged in the operation of ships or inland vessels to exercise or renew the option under the tonnage tax scheme. The form must be filed within the prescribed time, includes Part A for all cases and Part B only for renewal, and requires detailed ship-wise particulars with supporting annexures. It is filed with the jurisdictional Joint Commissioner and must be signed by the authorised signatory. Incomplete applications may be treated as invalid, and false statements in the form or annexures attract prosecution.
March 30, 2026
Guidance Note – Form 79
Show AI Summary
Pass-through taxation reporting for investment funds through Form 79, with unit holder income disclosure and auto-generated statements.
Form 79 is the consolidated annual statement for Investment Funds to report income paid or credited to unit holders under the pass-through taxation framework. Eligible Category I or Category II AIFs, and comparable IFSCA-regulated funds subject to the stated conditions, must file it annually by 15 June with detailed fund-level income, loss, set-off, and unit holder-wise distribution particulars. The form requires verification by both an authorised person and a qualified accountant, and its filing triggers auto-generation of Form 78 statements for unit holders.
March 30, 2026
Form 79 – Frequently Asked Questions
Show AI Summary
Investment fund income distribution reporting requires Form 79 filing online with supporting records and prescribed timelines.
Form 79 is the statement of income paid or credited by an investment fund to persons liable to tax on such income, and it must be filed by the person responsible for making the payment or credit on behalf of the fund. The statement is to be submitted online through the Income Tax e-filing portal by 15 June of the financial year following the tax year, with supporting records including audited financial statements, unit holder details, income distribution data, loss set-off computations, and the relevant registration certificate.
March 30, 2026
Guidance note - Form 78
Show AI Summary
Pass-through taxation reporting through Form 78 requires unit holder income statements, capital gain codes, and timely furnishing
Form 78 is the individual unit holder statement for income distributed by an Investment Fund under section 224 and Rule 145, furnished by the person responsible for payment or credit on behalf of the Fund to each unit holder by 30 June of the following financial year. It is system-generated from the consolidated parent Form 79 and includes unit holder details, fund particulars, income or loss classification with capital gain codes, and deemed loss details under section 224(3). No separate documents are required, and the form supports transparent pass-through income reporting by unit holders.
March 30, 2026
Form 78 – Frequently Asked Questions
Show AI Summary
Pass-through income reporting through Form 78 supports compliance, income classification, capital gains coding, and loss carry-forward.
Form 78 is the statement of income paid or credited by an investment fund to each unitholder under section 224 of the Income-tax Act, 2025. It is a child form generated from the parent Form 79 through the e-filing portal and is not filed separately or offline. The form must be furnished by 30 June of the financial year following the tax year, and it helps unit holders report pass-through income, classify income under the correct heads, apply capital gains tax rate codes, and use deemed loss details for carry-forward purposes.
March 30, 2026
Guidance note - Form 77
Show AI Summary
Business trust income distribution statements require auto-generated Form 77 for unit holders with income breakup and timely furnishing.
Form 77 is the individual unit holder statement furnished by a Business Trust to each unit holder for reporting income distributed during the tax year. It is generated automatically from Form 76 through the e-filing system, requires no separate attachments, and is furnished to each unit holder by 30 June following the tax year. The form captures unit holder details, business trust details, and income distribution particulars, including interest, letting, leasing or renting income, dividend income, and other income, and is verified by the responsible person for the trust.
March 30, 2026
Form 77 – Frequently Asked Questions
Show AI Summary
Pass-through income reporting under business trust rules through Form 77 and classified disclosure for unitholders.
Form 77 is the prescribed statement for furnishing income distributed or credited by a business trust to each unitholder under section 223. It is generated from the parent Form 76 through the prescribed e-filing portal, is not filed separately or offline, and must be furnished by 30 June of the following financial year. The form supports compliance by classifying pass-through income and assisting unitholders in reporting income under the appropriate heads.
March 30, 2026
Guidance note - Form 76
Show AI Summary
Business trust income reporting through Form 76, capturing distributions to unit holders under the pass-through taxation framework.
Form 76 is the annual income-tax statement required from a Business Trust registered with SEBI as a REIT or InvIT for reporting income distributed to unit holders under section 223 of the Income Tax Act, 2025 and rule 145 of the Income Tax Rules, 2026. The form captures the trust's basic details, trustee particulars, SEBI registration data, listing status, income classification, unit holder-wise distribution, and capital redemption details, and is to be filed electronically by 15 June of the financial year following the relevant tax year.
March 30, 2026
Rupee rebounds 128 paise from all-time low to 93.57 against US dollar in early trade
Show AI Summary
RBI net open position cap for banks lifts rupee in early trade as dollar exposure is reduced
RBI lowered the net open position that banks may keep overnight to USD 100 million, requiring compliance by 10 April 2026. The circular was aimed at limiting banks' currency exposure in onshore foreign exchange markets and prompted position adjustment by banks holding long dollar positions. The measure had an immediate market effect, with the rupee recovering in early trade after recent weakness.
March 30, 2026
Form 76 – Frequently Asked Questions
Show AI Summary
Pass-through taxation for business trusts through Form 76 filing, income distribution reporting, and online compliance requirements.
Form 76 is the prescribed online statement for income paid or credited by a Business Trust to its unitholders. It must be filed by the person responsible for distributing income on behalf of the trust by 15 June of the following financial year, and the filer must possess the relevant registration certificate, audited accounts, and certified income distribution records. The form supports pass-through taxation for Business Trusts and the exemption structure for specified income streams.
March 30, 2026
Guidance note - Form 75
Show AI Summary
Pass-through income reporting through Form 75 enables investor-wise disclosure by venture capital funds and companies.
New Form 75 is a child form generated from Form 74 for furnishing an investor-wise statement of income paid, credited or deemed to be credited by a Venture Capital Company or Venture Capital Fund to investors. Linked to section 222 of the Income-tax Act, 2025 and rule 145 of the Income-tax Rules, 2026, it provides head-wise details of pass-through income for reporting in the return of income. The form is prepared annually for each investor, verified by the authorised person of the VCC or VCF, and distributed through the e-filing process.

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April 6, 2026

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New Delhi, Apr 6 (PTI) Following are the top stories at 1.15 pm NATION CAL21 AS-POLL-PM (12.35 pm)

Cong keeps singing to Pakistan's tunes, compromising nation's security: PM in Assam Bhabnipur-Sorbhog (Assam): Prime Minister Narendra Modi on Monday said that while his government has carried out Operation Sindoor on terror camps in Pakistan, the Congress keeps on "singing to the tune of" the neighbouring country.

DEL11 RS-OATH (12.09 pm)

New Rajya Sabha members take oath New Delhi: NCP-SCP leader Sharad Pawar and Union Minister Ramdas Athawale were among 19 new Rajya Sabha members who took oath here on Monday.

DEL12 RAHUL-LPG-GOVT (12.18 pm)

Modi govt's handling of 'LPG crisis' is like it dealt with Covid pandemic; puts burden on poor: Rahul New Delhi: Congress leader Rahul Gandhi on Monday alleged that Prime Minister Narendra Modi has dealt with the "LPG gas crisis" just like it handled the COVID-19 pandemic as it is "devoid of policy, full of grand announcements", and places the "entire burden" upon the poor.

DEL7 RAHUL-DATA-GOVT (10.32 am)

India kept in dark: Rahul slams govt on data sovereignty New Delhi: Congress leader Rahul Gandhi on Monday raised concerns over India's data sovereignty and asserted that the country should be leading the global tech race, but instead it is being kept in the dark about how its data will be protected.

BOM2 MH-WASIA-SEAFARER-REMAINS (8.46 am)

Mortal remains of seafarer killed in drone boat attack reach Mumbai Mumbai: The mortal remains of 25-year-old seafarer Dixit Solanki, killed in a suspected drone boat attack off the Oman coast last month during West Asia war, have reached Mumbai, the National Union of Seafarers of India (NUSI) said on Monday.

BOM4 MH-BYPOLL-CONGRESS (11.06 am)

Baramati bypoll: May withdraw from fray if FIR registered in Ajit Pawar plane crash, says Congress Mumbai: The Maharashtra Congress on Monday said it will consider withdrawing from the Baramati assembly bypoll if a first information report (FIR) is registered in the plane crash that killed former Deputy Chief Minister Ajit Pawar.

BOM6 MH-SENA UBT-CONG (12.16 pm)

Congress slams Sena (UBT) for accusing it of using regional allies as ‘crutches’ Mumbai: The Congress on Monday hit out at the Shiv Sena (UBT) over the latter's accusation that the grand old party was using regional outfits as "crutches", and not treating them as "equal stakeholders" in the Opposition alliance.

CAL22 AS-POLLS-HIMANTA-LD CONG (12.36 pm)

Cong concocted charges against my wife using false info from Pak social media group: Assam CM Guwahati: Assam Chief Minister Himanta Biswa Sarma on Monday claimed the Congress has concocted the charge that his wife has multiple passports and owns properties in Dubai, using false information from a Pakistani social media group.

CAL13 JH-IED-EXPLOSION (11.47 am)

CRPF's CoBra jawan injured in IED explosion in J'khand's West Singhbhum Chaibasa: A jawan of CRPF's CoBRA battalion was injured when an IED planted by CPI (Maoists) exploded in Jharkhand's West Singhbhum district, a police officer said on Monday.

MDS18 TN-POLLS-UDHAYANIDHI (11.52 am)

TN will never accept Hindi imposition, says Udhayanidhi Stalin Thanjavur (Tamil Nadu): Tamil Nadu Deputy Chief Minister Udhayanidhi Stalin on Monday hit out at Union Education Minister Dharmendra Pradhan for criticising Chief Minister M K Stalin on the language row and said the state will never accept the three-language formula, but will follow the dual language policy of Tamil and English.

MDS4 KL-BHAGWAT (10.58 am)

Nation's prosperity key to individual progress: Mohan Bhagwat Kochi: RSS chief Mohan Bhagwat on Monday said individual prosperity can be achieved only when the country is prosperous and secure.

LEGAL LGD14 SC-VEDANTA-ADANI (12.50 pm)

SC does not interfere with order allowing Adani to acquire JAL, asks NCLAT to decide expeditiously New Delhi: The Supreme Court on Monday did not interfere with the order of the National Company Law Appellate Tribunal (NCLAT), which had refused to stay Adani Group's Rs 14,535 crore bid to acquire Jaiprakash Associates Ltd (JAL).

LGD13 DL-HC-PURI- EPSTEIN (12.50 pm)

Epstein links: HC refuses to entertain activist's plea against Hardeep Puri's daughter New Delhi: The Delhi High Court on Monday rejected an activist's appeal against an order directing him to take down social media content linking Union minister Hardeep Singh Puri's daughter to convicted American sex offender Jeffrey Epstein. It asked him to air his grievances before the single judge who had passed the order.

LGD12 SC-2020 RIOTS-TASLEEM (12.11 pm)

SC grants 2 more weeks to Delhi Police to file reply on bail plea of accused in 2020 riots case New Delhi: The Supreme Court on Monday granted two more weeks to Delhi Police to file its response on the bail pleas of Tasleem Ahmed and Abdul Khalid Saifi, accused in the February 2020 riots-related "larger conspiracy" case.

LGD5 SC-KHANDU-PROBE (11.15 am)

SC orders CBI enquiry into award of contracts to firms linked to Arunachal CM's kin New Delhi: The Supreme Court on Monday directed the CBI to register a preliminary enquiry within two weeks into the award of contracts for public works in Arunachal Pradesh to firms allegedly owned by family members of Chief Minister Pema Khandu.

BUSINESS DEL8 BIZ-PMI-SERVICES (11.32 am)

India's service economy rose at softest pace in 14 months in March: PMI New Delhi: India's services sector growth momentum rose at the softest pace in 14 months in March, mirroring the slowdown in new business intakes, a monthly survey said on Monday.

FGN13 BIZ-WIPRO-OLAM GROUP (10.07 am)

Wipro bags USD 1 bn deal from Olam Group; to acquire Mindsprint for USD 375 mn Singapore/New Delhi: IT services firm Wipro has secured an eight-year transformation deal with Singapore-based food and agri-business major Olam Group, which is expected to exceed USD 1 billion (about Rs 9,314 crore) in contract value.

FOREIGN FGN19 BANGLA-INDIA-ENVOY (12.39 pm)

Indian envoy meets B’desh PM; signals positive, constructive ties Dhaka/New Delhi: Indian envoy Pranay Verma on Monday met Bangladesh Prime Minister Tarique Rahman and conveyed New Delhi’s intent to pursue "positive", "constructive", and people-centric ties with Dhaka based on mutual interest.

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