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    Guidance Note - Form 26
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    CCI approves proposed acquisition of additional shareholding of Valuedrive Technologies Pvt Ltd by Setu AIF Trust, Konark Trust, and MMPL Trust
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March 26, 2026
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Tax audit Form No. 26 standardises disclosures, audit reporting, and filing requirements under the new income tax framework.
Prescribed Form No. 26 is the audit report and statement of particulars under section 63 of the Income-tax Act, 2025 read with rule 47 of the Income-tax Rules, 2026. Parts A and B contain the substantive disclosures for tax audit compliance, including books of account, method of accounting, income, expenses, losses, depreciation, deductions, international taxation, TDS/TCS, indirect taxation and quantitative details. Part C applies where accounts are audited under another law, while Part D applies where they are not. The form is required for specified business and professional thresholds and certain presumptive taxation cases, and is furnished through a structured online filing process.
March 26, 2026
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Mandatory audit reporting under Form No. 26 introduces clause-wise disclosures, UDIN compliance, and schedule-based tax audit filing.
Form No. 26 is the mandatory audit report and statement of particulars for persons carrying on business or profession whose accounts are required to be audited under section 63. It applies from tax years commencing on or after 1 April 2026, is due one month before the return filing deadline, and must be signed by an Accountant with UDIN, and FRN where applicable. The form uses Part B clause-wise Yes/No reporting with trigger-based schedules, and Parts C and D for audit reporting depending on whether accounts are audited under another law.
March 26, 2026
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Daily case register requirements for medical professionals under tax rules, including maintenance, exceptions, and non-filing status.
Form No. 25 prescribes a daily case register for medical professionals under Rule 46 of the Income-tax Rules, 2026. It records the patient's name, nature of service, fees charged, and date of receipt of fees. The form is mandatory for persons engaged in the medical profession, subject to the stated gross-receipts exceptions, and is maintained in addition to books of account. It is not furnished to the Department and has no due date.
March 26, 2026
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Daily case register compliance for medical practitioners requires tabular records, electronic access safeguards, and preservation obligations.
Form No. 25 is the prescribed daily case register for practitioners of any system of medicine under Rule 46 of the Income-tax Rules, 2026, subject to the prescribed gross receipt threshold and the position of newly set-up medical practices. It records patient and fee particulars in tabular form, is not furnished to the Income-tax Department, but must be maintained daily, produced before the Assessing Officer when called for, may be kept electronically with India-based access and backups, and must be preserved for seven tax years or until completion of reassessment proceedings.
March 26, 2026
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Permanent establishment audit reporting for royalty and technical services income now uses a structured Chartered Accountant certification format.
Form No. 24 is a statutory audit report for non-residents and foreign companies earning royalty or fees for technical services from India through a permanent establishment or fixed place of profession in India. It requires a Chartered Accountant's certification of the correctness of income computation, verification of the PE or fixed place, maintenance of books of account, and deduction only of expenses attributable to the PE while computing income under section 59. The form is filed annually, contains structured particulars of the assessee, agreement, PE, books examined, and income computation, and is submitted through the e-filing portal with digital signature verification.
March 26, 2026
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Competition approval for additional shareholding acquisition in Valuedrive Technologies through an alternative investment and trust co-investment structure.
The Competition Commission of India approved the proposed acquisition of additional shareholding in Valuedrive Technologies Private Limited by Setu AIF Trust, Konark Trust and MMPL Trust. The transaction concerns acquisition of shares on a fully diluted basis through an alternative investment fund and private trust co-investment structure. Valuedrive Technologies Private Limited operates as an operating-cum-holding company for the Spinny Group and carries on an electronic platform business for used motor vehicles, together with related subsidiary activities.
March 26, 2026
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Competition law approval for acquisition of shares in a listed NBFC by a Japan-based banking institution.
Competition Commission of India approval was granted for the acquisition of certain shares in Shriram Finance Limited by MUFG Bank Ltd. The acquirer is a Japan-based banking institution wholly owned and controlled by Mitsubishi UFJ Financial Group, Inc., and carries on banking-related activities in India including corporate banking loans, deposit accounts, remittances, trade finance, bank guarantees and hedging. The target is a listed non-banking financial company registered with the Reserve Bank of India, classified as an Investment and Credit Company and an NBFC-Upper Layer, engaged in financing commercial goods and passenger vehicles, construction equipment, farm equipment, MSMEs, two-wheelers, gold and personal loans.
March 26, 2026
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Competition approval for acquisition of Groww Asset Management shareholding by State Street Global Advisors
Competition approval was granted for the proposed acquisition of shareholding in Groww Asset Management Limited by State Street Global Advisors, Inc. The target manages schemes of Groww Mutual Fund, including equity, hybrid, debt and exchange traded fund schemes. State Street operates under the State Street Investment Management brand as the asset management arm of State Street Corporation. The detailed order of the Commission would follow.
March 26, 2026
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Competition combination approval for Coursera and Udemy merger, creating sole control over Udemy through a subsidiary merger.
Competition Commission of India approved a proposed combination involving the merger of Chess Merger Sub, a wholly owned subsidiary of Coursera Inc., with and into Udemy Inc., with Udemy surviving as a wholly owned subsidiary of Coursera. The transaction results in Coursera acquiring sole control over Udemy, and the combined company is expected to have post-closing shareholding in which existing Coursera stockholders hold approximately 59% and existing Udemy stockholders approximately 41% on a fully diluted basis.
March 26, 2026
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Competition approval for renewable energy investment in Aditya Birla Renewables through equity subscription by GIP EM Star.
Competition Commission of India approved the subscription of certain equity share capital of Aditya Birla Renewables Limited by GIP EM Star Pte. Ltd. The acquirer is incorporated in Singapore and is ultimately linked to Global Infrastructure Management, LLC and BlackRock, Inc. The target, headquartered in Mumbai, is engaged in renewable energy power generation, including solar and wind power.
March 25, 2026
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Inflation targeting framework retained with a 4 per cent objective and a 2 per cent tolerance band for the next cycle.
The central government, in consultation with the Reserve Bank, has notified the inflation target for 1 April 2026 to 31 March 2031 at 4 per cent, with an upper tolerance level of 6 per cent and a lower tolerance level of 2 per cent. The framework continues to place the Monetary Policy Committee in charge of setting the policy rate needed to achieve the inflation objective within the prescribed band.
March 25, 2026
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Insolvency resolution delays under the bankruptcy code draw debate over tribunal capacity, creditor recoveries, and reform priorities.
Delay in insolvency resolution under the Insolvency and Bankruptcy Code remained the central issue in parliamentary discussion on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. Members referred to tribunal capacity constraints, overburdened case loads, delayed liquidation and resolution timelines, value deterioration, and low realisations to creditors as continuing problems in the insolvency ecosystem. The select committee report was noted as seeking to address these structural concerns through amendments aimed at improving the functioning of the insolvency and bankruptcy framework.
March 25, 2026
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Electricity tariff reduction cuts power charges by one paisa per unit across all consumer categories for FY27.
Electricity tariff for all consumer categories in Himachal Pradesh has been reduced by one paisa per unit for FY27, effective from 1 April 2026. The tariff order fixes the average cost of supply at Rs 6.75 per unit after truing up, resulting in a corresponding reduction in energy charges across consumer classes. The revised schedule sets category-wise tariffs for domestic, commercial, industrial, agricultural, railway, EV charging, irrigation, bulk supply, and street lighting consumers, while domestic subsidy is left to the state government decision and compensation mechanism.
March 25, 2026
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Money laundering attachment over Mahadev betting assets targets alleged proceeds of crime and overseas luxury properties.
Provisional attachment under the Prevention of Money Laundering Act was issued against immovable assets linked to the Mahadev Online Book betting operation, including luxury properties in Dubai, apartments in Burj Khalifa and two properties in Delhi. The attached assets were alleged to represent proceeds of crime generated from illegal online betting activities controlled through entities associated with the main promoter of the platform.
March 25, 2026
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Insolvency and Bankruptcy Code reform focuses on faster resolution, out-of-court settlements, and cross-border insolvency provisions.
The Insolvency and Bankruptcy Code is described as a revival and resolution framework that has generated substantial recoveries through resolution of bankrupt companies and improved creditor-debtor discipline. The proposed amendment bill seeks to reduce the time taken for admission of insolvency resolution applications, speed up case clearance, support out-of-court resolution, and address cross-border insolvency and discretionary provisions.
March 25, 2026
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Power tariff unchanged as the commission prioritizes revenue neutrality, loss reduction, and efficiency in electricity distribution.
The Haryana Electricity Regulatory Commission kept power tariff unchanged for the 2026-27 financial year and treated the Annual Revenue Requirement of the distribution licensees as revenue-neutral despite a projected revenue gap. The order linked the decision to improved efficiency in revenue collection, receivables management, power procurement and loss reduction, while also fixing distribution loss levels and directing feeder-level monitoring to curb losses.
March 25, 2026
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Permanent Establishment audit reporting governs royalty and technical fees income for non-residents under the prescribed form.
Form No. 24 is a prescribed audit report for non-residents, foreign companies, and other non-resident entities deriving royalty or fees for technical services from India through a Permanent Establishment or fixed place of profession in India. It is certified by an Accountant and is mandatory where such income is effectively connected with the Indian Permanent Establishment or fixed place of profession. The form requires books of account, supporting documents, annexures, and electronic certification details, and is furnished annually before the return due date. Furnishing and acceptance of the form support assessment on a net income basis.
March 25, 2026
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Skill Development Project notification under income tax law links approval, audit compliance, and renewal conditions for eligible companies.
Form 23 is the CBDT notification form for an approved Skill Development Project under Section 47(1)(b) of the Income-tax Act, 2025 read with Rules 39 and 40. It is issued after Form 22 is examined and recommended by NCVET, and it specifies the approved Tax Year(s), project particulars, conditions, and validity for up to three Tax Years. The framework requires separate books, audit, prescribed reporting, compliance with notification conditions, and permits renewal or revocation depending on project performance and statutory compliance.
March 25, 2026
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Skill development project notification governs approval, tax-year limits, conditions, and compliance for income-tax benefits.
Form 23 is the income-tax notification form for an approved skill development project under Section 47(1)(b) of the Income-tax Act, 2025, issued after approval under Rule 39. It notifies the project in the Official Gazette, specifies the approved tax years, and sets the terms, duration, and expenditure limits. The notification is issued by the Central Board of Direct Taxes on recommendation of NCVET, and contains the company's particulars, project details, training institute details, approved tax years, estimated expenditure, and attached conditions.
March 25, 2026
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Skill Development Project approval under income tax rules requires Form 22 filing, structured disclosures, and electronic verification.
Form 22 is the prescribed Income-tax application by which an eligible company seeks approval of a Skill Development Project under Section 47(1)(b) of the Income-tax Act, 2025 read with Rule 39. The form is filed with the National Council for Vocational Education and Training for recommendation to the Central Board of Direct Taxes, and it must be submitted electronically using DSC or EVC before commencement of the project. It requires disclosure of company particulars, project particulars, training institute details, prior notifications or revocations, return of income data, penalties, outstanding tax demands, expenditure projections, and supporting annexures.

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DigiFortex Achieves CREST Accreditation, Advancing High-Assurance Cybersecurity for Globally Regulated Enterprises

April 13, 2026

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Bengaluru-born, US-incorporated - founded 2021, bootstrapped, debt-free - CREST accredited in under five years, backed by global CISOs, cybersecurity pioneers, and technology founders Bangalore Team of DigiFortex Inc. BENGALURU and WILMINGTON, Delaware - April 2026: DigiFortex, a cybersecurity and digital risk assurance company incorporated in India in April 2021 and in the United States in May 2022, achieved CREST accreditation for penetration testing in February 2026 - under five years from founding, coinciding with the company’s fifth anniversary on April 15, 2026. The accreditation places DigiFortex among a select group of firms meeting the independently verified standard required by financial regulators across the United Kingdom, Singapore, Malaysia, the Netherlands, and the United States. Most CREST-accredited firms have been operating for a decade or more. DigiFortex earned it in under five years - bootstrapped and debt-free. CREST requires member organisations to undergo a rigorous independent audit of technical methodology, governance, information security management, and staff competence - actively required or strongly preferred by the UK's Financial Conduct Authority, Singapore's Monetary Authority, and EU regulators under the Digital Operational Resilience Act. “CREST accreditation confirms that DigiFortex meets recognised benchmarks for technical delivery, governance, and security testing -giving clients greater confidence in assessing their security posture,” said Nick Benson, CEO of CREST International. “This reflects the level of assurance and quality we expect from our Members.” “Five years ago we started DigiFortex from Bengaluru -without external funding, without debt, with a conviction that enterprises deserved globally validated cybersecurity. Today, as we mark our fifth year, CREST accreditation confirms what our clients already knew. This is not the end. It is the baseline from which we take DigiFortex global.” said Vijay Kumar, Founder and CEO, DigiFortex. Three Certifications. One Firm. Under Five Years. DigiFortex holds three independent certifications simultaneously -earned without external capital: ✓ CREST Accredited - February 2026. Independently audited against the global standard required by FCA, MAS, and EU regulators. ✓ CERT-In Empanelled - Recognised by India’s national cybersecurity authority for information security auditing. ✓ ISO 27001:2022 Certified - Information security management independently verified to the same standard DigiFortex recommends to its clients. Three independent validations. Three questions answered: qualified to test, trusted with data, recognised by authority. Trusted by the World’s Most Demanding Organisations DigiFortex’s clients include a global e-commerce major, a global payments company, a global insurance group, a global logistics company, central and state government bodies across India, public sector organisations, India’s top fintech and investment platforms, Indian private sector banks, technology and IT services companies, autonomous and connected vehicle platform companies, and a global visa and consular services company -with clients across the US, EU, UAE, UK, India, Singapore, and beyond. These are repeat clients who trusted DigiFortex with their critical business systems - and came back. CISOs, CTOs, CFOs, and security leaders across the world’s most compliance-intensive organisations have cited DigiFortex’s technical depth, actionable reporting, and findings that surpassed those of established global vendors. No venture funding. No debt. Every engagement earned on delivery quality alone. Backed by a World-Class Advisory Board DigiFortex is guided by an advisory board of global cybersecurity leaders, technology entrepreneurs, and academics. The board includes a well-known US CISO and former senior leader at MITRE, bringing deep expertise in threat intelligence and enterprise cyber risk. A cybersecurity industry veteran who established and led the India operations of two of the world’s most recognised cybersecurity companies, before founding a global threat intelligence startup and serving as CTO of a leading US cybersecurity firm. The co-founder and CEO of one of India’s most successful B2B SaaS companies serving Fortune 500 enterprises globally. The co-founder and CEO of a US-based analytics consultancy serving regulated enterprise clients across HIPAA, GDPR, and ISO frameworks. The former Director of one of India’s premier technology institutes. A Canadian-based academic and cybersecurity practitioner specialising in privacy law and data protection. A technology entrepreneur with expertise in emerging enterprise platforms. Full advisory board profiles: https://www.digifortex.com/About-Us/ Built for the AI Era - A Complete Portfolio Security Testing: CREST-accredited penetration testing across web, mobile, API, network, cloud, IoT, and OT environments. LLM and AI Penetration Testing, Red Teaming and Adversary Simulation, Attack Surface Management and Dark Web Monitoring. v-CISO: Fractional Chief Information Security Officer leadership for globally regulated technology companies, and AI-driven enterprises - building and maturing security programmes without the cost of a full-time hire. Virtual DPO: Fractional Data Protection Officer services guiding organisations through DPDPA, GDPR, and multi-jurisdictional privacy obligations - from data mapping and impact assessments to regulatory liaison and breach response. End-to-End GRC and Certifications: Comprehensive governance, risk, and compliance across Indian frameworks -RBI, SEBI, NABARD, IRDAI, UIDAI, and SBI-VSCC - and global frameworks including DORA, HIPAA, FedRAMP, SOX, NIST, PCI DSS, SOC 2, ISO 27001, ISO 42001, and GDPR. Internal Audit. AI Governance. Risk Management. Data Privacy: Advisory and implementation across DPDPA, GDPR, CCPA, and PIPEDA - covering privacy by design, data mapping, privacy impact assessments, and cross-border data transfer compliance. Managed Security: 24x7 AI-powered SOC. Cloud-Native Application Protection Platform with real-time monitoring, threat detection, and automated compliance. Delivered from Bangalore, Mumbai, Delhi, and Pune. Coming Soon: Enterprise Platforms for Security, Privacy, Compliance & AI Governance DigiFortex is developing enterprise platforms delivering unified visibility across security posture, data privacy, and compliance - built for organisations navigating accelerating regulatory complexity and the expanding attack surface of AI adoption. Further details will be announced in the coming months. Innovation and Talent DigiFortex is backed by a solid engineering team with experience from the IITK ecosystem and India’s top technology institutions - combining deep offensive security expertise with rigorous GRC and privacy credentials. The team brings academic pedigree from Wharton, Kellogg, ISB, IIM, IIT, NIT, and IIITB, with founding experience from early-stage McAfee and APAC’s first Security Operations Centre. On every engagement, DigiFortex deploys engineers who have built, broken, and secured complex enterprise systems -not consultants who document them. Team certifications span OSCP, OSCP+, CRTP, CISSP, CEH, CISA, CCSA NG, ISO 27001 Lead Auditor, CIPP/E, DCPLA amongst others - covering offensive security, red team operations, enterprise security leadership, network defence, information systems audit, and data privacy law across European and global jurisdictions. The company has inventors with 17 US patents applicable across 170+ countries - reflecting an engineering culture that invents, not just implements. DigiFortex has engaged with Stanford University, the University of Washington, and the London School of Economics, and has on multiple occasions delivered security assessment findings that surpassed those of established global vendors. About DigiFortex DigiFortex is a cybersecurity and digital risk assurance company incorporated in India in April 2021 and in the United States in May 2022. Bootstrapped and debt-free, the company holds CREST accreditation, ISO 27001:2022 certification, and CERT-In empanelment -earned in under five years without external funding. Trusted by global e-commerce, payments, insurance, and logistics majors, government bodies, fintech platforms, and technology firms across the US, EU, UAE, UK, India, Singapore, and beyond, DigiFortex delivers penetration testing, GRC, SOC, AI security, CNAPP, and data privacy services from delivery centres across India. The company has inventors with 17 US patents applicable across 170+ countries. Website: www.digifortex.com Media Contact Vijay Kumar Founder & CEO, DigiFortex [email protected] +91 9448353194 www.digifortex.com (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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