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March 31, 2026
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Provisional registration and approval conditions under Form 106 cover income use, commercial activity limits, and disclosure compliance.
Form No. 106 is the order through which the Commissioner of Income Tax (CPC) grants provisional registration or provisional approval, or rejects an application made in Form No. 104. It captures applicant details, the provisional registration or approval number, the period of validity, and the authority issuing the order. The form prescribes conditions on application of income, commercial activities, maintenance of separate books, compliance with law, and true disclosure, and it may be cancelled if false information is found or electronic filing requirements are not met.
March 31, 2026
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Preferential allotment of equity shares under a resolution plan supports AI expansion, technology platforms, and working capital needs.
Preferential allotment of equity shares by a listed artificial intelligence and digital transformation company pursuant to a Resolution Plan approved by the National Company Law Tribunal and in compliance with applicable SEBI Regulations, the Companies Act, 2013 and stock exchange requirements. The allotment comprised equity shares issued to strategic investors in the public non-promoter category at a premium, with participation from alternative investment funds, strategic investors and high-net-worth individuals.
March 31, 2026
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Provisional registration and approval under income tax rules require timely orders, a unique registration number, and compliance with filing requirements.
Provisional registration or provisional approval is granted through Form No. 106 after receipt of Form No. 104, with an order to be passed within one month from the end of the month of application. The provisional status remains valid for three tax years or up to six months from commencement of activities, whichever is earlier. The order issues a 16-digit Unique Registration Number and may later be cancelled after hearing if the application contains false or incorrect information or fails electronic filing and verification requirements.
March 31, 2026
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Form 105 governs regular registration and approval of non-profit organisations, with filing, validity, documents, and re-application rules.
Form No. 105 is the electronic application for regular registration or regular approval of specified non-profit organisations and allied funds under the Income-tax Act, 2025. It covers applicants seeking registration to claim benefits available to registered non-profit organisations, and applicants seeking approval so that donations received may qualify for donor deduction. The form requires details of identity, formation, existing registration, income, office bearers, beneficial ownership, activities, assets, liabilities, and supporting documents. It also provides for filing timelines, validity periods, re-application, withdrawal, and correction of erroneous details before the order is passed.
March 31, 2026
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EMI calculators support smarter personal loan planning by helping borrowers assess repayments, tenure, and borrowing capacity in advance.
Personal loan planning increasingly depends on EMI calculators that allow borrowers to estimate monthly instalments, compare loan scenarios, adjust tenure for affordability, and assess the total cost of borrowing before applying. By entering the loan amount, tenure, and interest rate, applicants can review repayment obligations in advance and align borrowing decisions with monthly income and budget capacity, thereby supporting more disciplined financial planning and reducing the risk of over-borrowing. The personal loan product is presented as a flexible digital lending option with an online application process, minimal documentation, and fast approval features.
March 31, 2026
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Income tax return forms notified for assessment year 2026-27, setting filing eligibility across taxpayer categories and updated returns.
Income Tax Department notified all income tax return forms for assessment year 2026-27, enabling individuals, businesses and other entities to file returns for income earned in financial year 2025-26. The notification covers ITR forms 1 to 7 as well as ITR-U for updated returns, with the return-filing deadline for individuals and other non-audited taxpayers stated as 31 July. ITR-1 (Sahaj) is available to resident individuals with total annual income up to Rs 50 lakh deriving income from salary, one house property, other sources and agricultural income up to Rs 5,000. ITR-4 (Sugam) applies to individuals, Hindu Undivided Families and firms other than limited liability partnerships having total annual income up to Rs 50 lakh and income from business or profession. ITR-2 is for individuals and HUFs without business or professional income but having capital gains, while ITR-3 is for individuals and HUFs with income from proprietary business or profession.
March 31, 2026
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Regular registration and approval for non-profit organisations through a common online form with event-based filing rules.
Form No. 105 is the common online application for regular registration of a non-profit organisation and for regular approval of a registered non-profit organisation or specified funds so that donor deductions may be available. It is mandatory only for applicants seeking these benefits, requires PAN, must be furnished electronically to the jurisdictional Principal Commissioner or Commissioner, and is filed within the prescribed time limits depending on commencement of activities, expiry of provisional status, expiry of existing registration or approval, inoperative registration, or modification of objects. The form is generally event-based, the regular registration or approval is ordinarily valid for five tax years, and a one-time re-application, withdrawal within seven days, correction before the order, and specified supporting documents are permitted.
March 31, 2026
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Provisional registration and approval for non-profit organisations under Form 104 are granted through a simplified electronic application process.
Form No. 104 is the common electronic application for provisional registration or provisional approval for eligible non-profit organisations, registered non-profit organisations, regimental funds, and non-public funds established by the armed forces. It requires prescribed identification, incorporation, registration, ownership, return-filing, and supporting document details, and must be filed with the Commissioner of Income Tax (CPC) through the e-filing portal. Provisional registration or approval is granted through a written order with a Unique Registration Number, may be cancelled for false or non-compliant filings, may be surrendered if no exemption benefits were ever claimed, and may be withdrawn within seven days of filing.
March 31, 2026
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Provisional registration and approval for non-profit organisations depend on online Form No. 104, mandatory PAN, and commenced activities rules.
Form No. 104 is the common electronic application for provisional registration under section 332(3) and provisional approval under section 354(2) for applicants whose activities have not commenced. It is filed online with the Commissioner of Income Tax (CPC), who must pass an order in Form No. 106 within one month from the end of the month of filing, unless the application is non-est. The provisional registration or approval is valid for three tax years or up to six months from commencement of activities, whichever is earlier, and may be cancelled for false information or defective filing. PAN is mandatory, offline filing is not permitted, and the form cannot be edited after submission.
March 31, 2026
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PAN allotment forms simplified into category-specific applications with mandatory contact details, supporting documents and improved verification.
PAN allotment applications are to be made in revised Forms 93, 94, 95 and 96 for four applicant categories: individual citizens of India, Indian entities, individuals who are not citizens of India, and foreign entities. The forms are category-specific, self-explanatory and aligned with the Income-tax Act and rules, with online or physical filing through PAN service providers, document verification, transmission to the Income Tax Department, and PAN generation with dispatch of the physical card where opted.
March 31, 2026
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Permanent Account Number application rules set forms, documents, fees, and correction procedures for Indian and foreign applicants.
Permanent Account Number (PAN) application is governed through prescribed forms for different applicant categories: Form 93 for individuals being citizens of India, Form 94 for non-individual Indian entities, Form 95 for individuals not being citizens of India, and Form 96 for non-individual foreign entities. PAN is a unique taxpayer identifier required for income-tax return filing and specified financial transactions. The application process requires prescribed supporting documents, incomplete or deficient applications are treated as invalid, and correction requests may be made separately after allotment.
March 31, 2026
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Corporate governance through independent director appointment and audit committee leadership to improve oversight, controls and compliance.
Appointment of an independent director and audit committee chair to strengthen corporate governance, financial oversight and compliance mechanisms. The role is stated to include supervision of financial reporting integrity, internal controls, enterprise risk management, regulatory compliance and audit processes, with the appointment intended to deepen board oversight and support disciplined, responsible and sustainable growth.
March 31, 2026
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Manufacturing activity rebounds as energy costs, supply-chain risks, and weak demand cloud China's growth outlook.
China's manufacturing activity returned to expansion in March as the official purchasing managers index rose above 50, ending two months of contraction. Analysts said the outlook remains vulnerable to higher energy costs, possible supply-chain disruption, a prolonged property-sector slump, and weaker global demand, while exports continue to play a key role in supporting growth.
March 30, 2026
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Asset restitution under PMLA advances recovery for PACL investors after attachment of properties in alleged investment fraud.
Assets worth more than Rs 15,000 crore have been restored under the Prevention of Money Laundering Act to a Supreme Court-appointed committee for distribution to investors allegedly defrauded in the PACL collective investment scheme. A special PMLA court ordered restitution of 455 immovable properties to the Justice Lodha Committee, reflecting the statutory remedy of restoration of attached assets to victims of fraud and proceeds of crime. The ED's action is part of an investigation into allegations of an illegal collective investment scheme and the attachment of properties held by PACL entities, family members and associates.
March 30, 2026
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Rupee volatility intensifies as geopolitical tensions, dollar strength and RBI net open position caps pressure forex markets.
The rupee fell sharply in intra-day trade and briefly crossed the 95-per-US dollar level before closing at 94.70, with volatility attributed to heightened geopolitical tensions, risk-off sentiment, a firm dollar index and higher crude oil prices. The Reserve Bank of India reduced the net open position that banks may maintain overnight and capped Net Open Position (NOP-INR) at USD 100 million through a circular dated March 27, 2026, with compliance required by April 10, as part of monitoring currency exposure in a volatile foreign exchange market.
March 30, 2026
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Money laundering attachment under PMLA targets immovable assets linked to alleged diversion and siphoning of company funds.
Provisional attachment under the Prevention of Money Laundering Act was issued in respect of land parcels and other immovable assets valued at more than Rs 271 crore. The attached properties included land parcels in Panvel and Shahapur talukas of Maharashtra, in connection with an ongoing money-laundering investigation concerning Rajendra Lodha, a former director of Lodha Developers. The allegations concerned diversion and siphoning of company funds and assets through unauthorised transfer of properties at undervalued prices, fabrication of Memorandums of Understanding, and misappropriation of inflated amounts.
March 30, 2026
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Summons compliance in excise policy probe challenged as the agency disputes acquittal and alleges deliberate non-appearance.
The Enforcement Directorate has challenged the acquittal of Arvind Kejriwal in two summons-compliance cases arising from the excise policy matter, alleging intentional failure to appear despite repeated summonses and deliberate creation of grounds to avoid the probe. The trial court had found that the ED failed to prove intentional disobedience. The broader excise policy and money-laundering proceedings remain pending in connected forums.
March 30, 2026
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Rupee depreciation and forex speculation curb as the Reserve Bank limits bank net open positions in the onshore market.
The rupee fell sharply against the US dollar in FY26 because of foreign fund outflows, high crude prices, global dollar strength, tariff pressure, geopolitical tensions, and volatile markets. The Reserve Bank of India intervened by selling dollars and later introduced a measure requiring banks to limit net open positions in the onshore currency market to curb excessive speculation and reduce one-sided bets against the rupee.
March 30, 2026
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Insolvency resolution process dispute tests value maximisation, fair bidding and creditor discretion in Jaiprakash Associates acquisition plan.
Vedanta Ltd has challenged the approval of Adani Enterprises Ltd.'s resolution plan for Jaiprakash Associates Ltd. in insolvency proceedings and sought a stay on its implementation. The dispute concerns the validity of the resolution plan, the approvals granted by the Committee of Creditors and the adjudicating authority, and the application of the Insolvency and Bankruptcy Code principles of value maximisation, fair bidding, feasibility and execution. The appellate tribunal has sought a response from the Committee of Creditors and noted that implementation of the plan will remain subject to the outcome of the appeals.
March 30, 2026
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Money laundering and fugitive offender laws address bank fraud attachments, confiscation, and restrictions on economic offenders abroad.
The Enforcement Directorate has investigated bank fraud matters under the Prevention of Money Laundering Act, with arrests, prosecution complaints, convictions, attachment of proceeds of crime, and confiscation and restitution of assets in some cases. The Fugitive Economic Offenders Act, 2018 is described as a measure to deter offenders from evading Indian law by staying abroad and provides for confiscation of properties, proceeds of crime and benami properties, lookout notices, and restrictions on raising capital, acquiring shares, or voting rights.

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News and Press Release

Launch of the first ever Annual Survey of Incorporated Services Sector Enterprises (ASISSE)

April 6, 2026

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Release of “Know Your Survey: A User Guide to the Annual Survey of Incorporated Services Sector Enterprises (ASISSE)”- a reader-friendly explainer on the survey

Highlights:

  • NSO launches the first ever Annual Survey of Incorporated Services Sector Enterprises (ASISSE) covering incorporated services sector enterprises across India with the reference period being the financial year 2024-25.
  • The survey is aimed at developing a comprehensive database of the incorporated services sector of the country.
  • The survey uses GSTN database as sampling frame. More than 1.21 lakh enterprises will be surveyed in ASISSE.
  • NSO publishes “Know Your Survey: A User Guide to the Annual Survey of Incorporated Services Sector Enterprises (ASISSE)” as part of MoSPI’s broader outreach efforts to engage with users and communicate survey processes in a more transparent and user-friendly manner.
  • The document explains the key aspects of the survey in a simple and structured manner for the participating enterprises as well as for the general public.

The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI), launches the first ever Annual Survey of Incorporated Services Sector Enterprises (ASISSE) from April, 2026 covering all States and Union Territories; accompanied by an explainer document titled Know Your Survey: A User Guide to the Annual Survey of Incorporated Services Sector Enterprises (ASISSE), designed specifically for communicating survey processes in a user-friendly manner.

In terms of economic significance, the services sector contributes more than half of India's GDP, generates millions of jobs and has been a major catalyst for the country's economic transformation in the last few decades. ASISSE is envisaged to be a key source of official data on the incorporated services sector of the economy comprising of services like trade, transport, hospitality, information technology, education, heath, etc. and thereby representing one of the most dynamic components of India’s economy.

ASISSE is a significant initiative aimed at developing a comprehensive database of the incorporated services sector in India. A comparable database for the registered manufacturing sector already exists through the Annual Survey of Industries (ASI), conducted by the NSO, MoSPI. The unincorporated non-agricultural sector (excluding construction) is covered by the Annual Survey of Unincorporated Sector Enterprises (ASUSE) of MOSPI. Together, these three surveys provide a holistic view of the non-agricultural economy, capturing key indicators at both state and industry levels.

The survey covers corporate entities in the services sector – companies registered under the Companies Act, 1956/2013 or Limited Liability Partnership Act, 2008. With a sample size of approximately 1.21 lakh enterprises, the survey is expected to generate key operational and economic indicators, which are crucial for evidence-based policymaking and economic analysis. The survey will be conducted under the provisions of Collection of Statistics Act, 2008, as amended in 2017 and through the Jan Vishwas (Amendment of Provisions) Act, 2023 and data will be collected through a secure web-based portal.

On this occasion, NSO also releases an explainer document “Know Your Survey – A User Guide to ASISSE”, aimed at promoting greater awareness, transparency, and ease of compliance, and at improving the quality and reliability of data collected under ASISSE. The guide provides detailed information on survey objectives, coverage, concepts, definitions, and other relevant information in a clear and user-friendly manner. It addresses frequently asked questions and clarifies reporting requirements for selected enterprises. The document also includes a dedicated section for survey respondents, addressing their common queries, concerns, and doubts that may arise during the course of survey. The preparation of this document is aligned with global best practices followed internationally by national statistical systems in communicating survey design, processes, and outputs. The publication reflects NSO’s commitment to fostering a more informed, aware, and engaged data user community, thereby strengthening public trust in official statistics.

 

Link to MoSPI website: https://mospi.gov.in/

 

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Acts Income Tax