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March 30, 2026
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Union Government monthly accounts show consolidated receipts, expenditure and tax devolution up to February 2026.
Monthly accounts of the Union Government for the period up to February 2026 for FY 2025-26 record consolidated receipts, expenditure and tax devolution. The Government received total receipts of Rs.27,91,943 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts, and transferred Rs.12,66,369 crore to State Governments as devolution of share of taxes, higher than the previous year by Rs.85,837 crore. Total expenditure incurred up to February 2026 stood at Rs.40,44,592 crore, including revenue expenditure and capital expenditure.
March 30, 2026
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TDS credit mismatch resolution through electronic filing of Form No. 102 for aligning tax years and deduction records.
Form No. 102 is an electronic application for claiming TDS credit where income was offered to tax in one tax year but the related tax was deducted and reported by the deductor in a later year. The form is filed by eligible taxpayers to align the TDS credit with the correct tax year, and it requires particulars of the assessee, the relevant income, the deduction details, and supporting documents. The application is submitted through the e-filing portal and processed by the Assessing Officer.
March 30, 2026
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TDS credit mismatch relief through Form No. 102 allows taxpayers to align credit with the correct tax year online.
Form No. 102 is an optional online application for claiming TDS credit where income was included in a return for one tax year but the tax was deducted and deposited in a subsequent tax year. It may be filed by any taxpayer to align the TDS credit with the correct tax year in cases of timing mismatch, subject to a filing window of two years from the end of the financial year in which the TDS was deducted and reported. The form contains Part A and Part B, requires a valid PAN, cannot be edited after submission, and is filed only through the e-filing portal.
March 30, 2026
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Tax evasion detection in hospitality sector expands through data analytics, GST matching, and digital payment verification.
A state-wide tax enforcement drive in the hospitality sector has identified suspected turnover suppression through data analytics, risk assessment, and comparison with GST returns. The investigation covers establishments such as dhabas, restaurants, eateries, bakeries, sweet shops, and catering services, using tax intelligence inputs, online billing data, and digital payment records to verify reported turnover against actual receipts.
March 30, 2026
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Inventory valuation report requirements under tax law govern Cost Accountant certification, filing timelines, and verification of inventory valuation.
Form 101 is the prescribed inventory valuation report to be furnished by a Cost Accountant when an Assessing Officer directs valuation of inventories under Section 268(5)(ii) of the Income-tax Act, 2025 read with Rule 171. It is used to support correct inventory valuation for tax computation and verification, and is filed only when special valuation is directed. The report must be submitted within the time allowed by the Assessing Officer, subject to any extension not exceeding six months from the end of the month in which the direction is received.
March 30, 2026
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Inventory valuation reporting in Form 101 requires Cost Accountant certification when valuation is directed for tax compliance.
Inventory Valuation Report in Form 101 is furnished by an assessee when the Assessing Officer directs inventory valuation under section 268(5)(ii) of the Income-tax Act, 2025 read with rule 171 of the Income-tax Rules, 2026. The report is prepared and certified by a Cost Accountant after examining books, records and supporting documents, and is used for accurate inventory valuation for tax computation, verification and compliance with the Income Computation and Disclosure Standards. Form 101 is filed only for the tax year in which the direction is issued, within the time allowed by the Assessing Officer.
March 30, 2026
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E-commerce moratorium and TRIPS safeguard lapse as WTO ministers fail to reach consensus on digital trade rules.
Failure of the WTO ministerial conference to reach consensus on the extension of the e-commerce moratorium left unresolved the commitment not to impose customs duties on electronic transmissions. The deadlock reflected differing positions on the duration of the extension, and the lapse raises the prospect that members may impose import duties on digital transmissions. The same impasse also ended the safeguard against non-violation complaints under the TRIPS Agreement, increasing the risk that WTO-compliant measures may be challenged for affecting expected commercial gains.
March 30, 2026
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Proceeds of crime attachment under PMLA prevails over debt recovery laws in tainted asset proceedings.
Attachment of proceeds of crime under the Prevention of Money Laundering Act was described as prevailing over debt recovery legislation, including the SARFAESI and RDB Acts, where the property is linked to money laundering. The key legal point is that the PMLA operates with overriding effect in relation to attachment proceedings concerning tainted assets, and debt recovery mechanisms do not displace action taken under the anti-money laundering framework.
March 30, 2026
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Special audit report requirements under income tax law clarified for Form 100, supporting compliance and verification.
Form 100 is the audit report furnished by an Accountant when an assessee is directed to get accounts audited under section 268(5)(i) of the Income-tax Act, 2025. It certifies examination of the books of account and financial statements and records whether the accounts present a true and fair view. The report is filed only on a special audit direction, together with supporting financial statements, books, bank statements, and applicable audit reports, within the period specified by the Assessing Officer.
March 30, 2026
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ESG performance and sustainability leadership drive YES BANK's top ranking in S&P Global's banking assessment.
YES BANK reported improved ESG performance under the S&P Global Corporate Sustainability Assessment 2025, with a score of 79 out of 100 and recognition as India's highest-rated bank in the assessment. The bank stated that this result marked its fourth consecutive inclusion in the S&P Global Sustainability Yearbook and placed it among the top 15% of global banking leaders, based on evaluation across climate strategy, operational eco-efficiency, financial inclusion, human capital development, human rights, corporate governance, and risk management.
March 30, 2026
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RBI foreign exchange restrictions and weak crude-linked sentiment deepen pressure on equities and banking stocks.
Indian equity markets ended sharply lower amid escalating geopolitical tensions in West Asia, higher crude oil prices, weak global cues, and continued foreign fund outflows. Banking stocks faced additional pressure after RBI restrictions on banks' foreign exchange positions aimed at stabilising the rupee, while market participants flagged oil-price volatility and rupee weakness as risks to input costs and near-term earnings revisions.
March 30, 2026
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Special audit report filing under Form 100 requires accountant certification, supporting records, and online submission compliance.
Form 100 is the audit report to be furnished by an Accountant when the Assessing Officer directs a special audit under section 268(5)(i). It certifies examination of the assessee's accounts and their true and fair view, and is filed only for the tax year in which the direction is issued. The form requires signed verification, supporting financial and accounting records, and submission through the e-filing portal with annexures and documents. The revised form aligns with the Income-tax Act, 2025 and uses simplified tabular reporting.
March 30, 2026
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Income-tax rate changes and procedural reforms reshape reassessment, penalties, tax credits, and indirect tax schedules in the finance bill.
Finance Bill, 2026 gives effect to the Central Government's financial proposals for the financial year 2026-2027 and operates as the Finance Act, 2026 with specified commencement dates. It revises income-tax rates, surcharge structures and health and education cess, and makes extensive amendments to the Income-tax Act, 1961 and the Income-tax Act, 2025 covering reassessment, return filing, assessment timelines, interest, penalty, waiver, immunity, tax credits, deductions, and related procedural rules. The Bill also updates indirect tax provisions, including customs, customs tariff and GST-linked schedule entries, by substituting, inserting and omitting specified rates and classifications.
March 30, 2026
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Income-tax appeal filing in Form 99 requires electronic submission of facts, grounds, supporting documents and disputed details.
Form No. 99 is prescribed for filing an appeal before the Joint Commissioner of Income-tax (Appeals) or the Commissioner of Income-tax (Appeals) against an appealable order passed by an Income-tax Authority. It is furnished electronically and captures the relevant order, taxes paid, disputed amounts, grounds of appeal, statement of facts, supporting documents and additional evidence, so that the appeal may be registered and processed in the prescribed appellate manner.
March 30, 2026
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PMLA attachment of proceeds of crime overrides prior secured interests under debt recovery laws in property disputes.
PMLA has an overriding confiscatory framework for attachment of proceeds of crime, and its operation is not displaced merely because the attached property is subject to a prior mortgage or secured interest under debt recovery laws. The court noted that SARFAESI and the Recovery of Debts and Bankruptcy Act serve different objects and cannot prevail over PMLA in attachment proceedings. Where confiscation has been ordered or trial has commenced, claims of legitimate interest in the attached property must be adjudicated by the Special Court.
March 30, 2026
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Census data confidentiality and land dispute adjudication qualifications shape key legal concerns in recent public interest litigation.
Individual census data is to remain confidential and cannot be used as evidence or to obtain benefits under any government scheme. A public interest petition has also sought a revenue judicial service for land disputes, with minimum legal qualifications and training for public servants adjudicating such matters.
March 30, 2026
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Electronic appeal filing under Form 99 requires timely submission, tax compliance, verified grounds, and prescribed supporting disclosures.
Form 99 is the prescribed electronic appeal form for filing an appeal before the Joint Commissioner of Income-tax (Appeals) or the Commissioner of Income-tax (Appeals) against an appealable order under the Income-tax Act, 2025. The appeal is optional and must be filed within 30 days from the relevant date. The form requires disclosure of appellant details, order particulars, disputed amounts, pending appeals, grounds of appeal, additional evidence, delay condonation, appeal fees, and supporting documents. Filing is subject to statutory tax-payment conditions, must be electronically filed where return e-filing is mandatory, cannot be revised after verification, and must be verified by the appellant or an authorised person.
March 30, 2026
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Quarterly non-resident reporting in Form 92 mandates structured electronic filing, annexure declarations, and standardized identity details.
Quarterly reporting in Form 92 requires specified funds and stock brokers dealing with non-resident clients to furnish standardised information under Rule 157 through the Income-tax Department's electronic filing system. The form is submitted quarterly, may include multiple non-residents in one return, and is intended to support monitoring, compliance, verification of residency particulars, and information exchange for cross-border investments. Form 92 uses a structured Part A and Part B format, requires Annexure A-1 declarations from each non-resident, and calls for PAN details of the filer, with no other supporting documents to be uploaded.
March 30, 2026
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Banking outlet coverage through GIS monitoring expands access in villages under RBI-guided infrastructure planning.
Banking outlet coverage in inhabited villages is monitored through the Jan Dhan Darshak GIS-based application, which tracks bank branches, Business Correspondents and India Post Payments Bank outlets within a five-kilometre radius. On the basis of bank-uploaded data, 99.92% of villages in the country and 100% of villages in Dadra and Nagar Haveli are covered within the prescribed radius. Expansion in uncovered areas is a continuous process under extant RBI guidelines, overseen by the State Level Bankers' Committee or Union Territory Level Bankers' Committee.
March 30, 2026
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Kisan Credit Card access expands through digital issuance, concessional lending, and stronger grievance redressal for farmers.
Measures supporting the Kisan Credit Card ecosystem focus on expanding credit access, improving digital issuance, and strengthening financial inclusion for farmers, including small and marginal farmers. Priority Sector Lending guidelines and the Ground Level Agriculture Credit target operate as key policy instruments for scaling KCC coverage, with a sub-target for small and marginal farmers and incentive and disincentive frameworks intended to encourage more equitable agricultural credit distribution. The KCC scheme also covers working capital for animal husbandry, dairying and fisheries, while the Modified Interest Subvention Scheme provides concessional short-term agricultural loans through KCC with an additional prompt repayment incentive.

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Customs & Trade

Trackers Deliver Up to 23% Higher Yield and 10% Lower EPC Cost; Suggests an Independent Technical Study

April 15, 2026

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New Delhi, April 15 2026: SgurrEnergy, an independent renewable energy technical advisory and engineering company, has released the findings of an independent techno-economic assessment comparing Fixed-Tilt (FT) and Horizontal Single-Axis Tracker (HSAT) mounting systems across representative Indian solar geographies. The study’s modelled scenarios indicate that tracker-based systems may achieve up to 23% higher specific yield under certain site conditions while potentially reducing overall EPC costs by as much as 10%, subject to project design, location and modelling assumptions. The analysis highlights the importance of site-specific evaluation when assessing mounting system selection for utility-scale solar projects in India.

The assessment evaluates energy yield and Levelized Cost of Energy (LCoE) across Rajasthan, Andhra Pradesh, and Madhya Pradesh, selected to represent diverse irradiation profiles, terrain conditions, and climatic environments. Using high-resolution SolarGIS resource data and detailed PVSyst simulations, the study analysed system performance under both CUF-matched and constant-DC scenarios to ensure a robust and like-for-like comparison.

The findings highlight the modelled performance differences of HSAT systems. Under the Study’s simulated scenarios, trackers require approximately 14-18% lower installed DC capacity to achieve the Capacity Utilization Factor (CUF) levels comparable to fixed-tilt systems, indicating reductions in infrastructure intensity. Even at equivalent DC capacities, HSAT configurations demonstrated a 3–4 percentage point improvement in CUF within the evaluated case. Across all three evaluated states, tracker systems showed higher simulated specific yield outcomes compared to fixed-tilt setups, with 15–23% higher specific yield and 12–16% higher transposition gains, driven by continuous sun tracking and enhanced irradiance capture throughout the day.

Speaking on the findings of the report, Jawwad Shaikh, Manager at SgurrEnergy, said, “This assessment showed that system-level optimisation can materially change the economics of solar projects. Based on our findings and under the evaluated scenarios, single-axis trackers demonstrated the ability to achieve the comparable CUF with lower DC capacity assumptions while delivering materially higher energy yield when compared to fixed -tilt systems. The implications are not just better performance but goes beyond to overall infrastructure intensity and lifecycle cost structures. For developers and asset owners operating in competitive markets, such design considerations can play a critical role in investment decisions.” Rajeev Kashyap, Senior Vice President and General Manager, Nextpower India Private Limited added, “In a market where tariff competitiveness and performance certainty define project success, mounting system selection has become a strategic decision rather than a purely technical one. This independent assessment provides valuable analytical insight into how optimised tracker configurations can materially enhance energy productivity while reducing overall project cost intensity. The ability to achieve target CUFs with lower DC sizing, improved generation profiles, and stronger lifecycle economics reinforces the long-term value proposition of HSAT systems. Such data-driven analysis contributes to more informed decision-making for developers, investors, and lenders evaluating next-generation solar assets in India.” The study confirms that optimized tracker configurations can be implemented without increasing project capital costs.When designed to meet defined CUF targets within the modelling framework, HSAT systems may reduce overall EPC CAPEX by approximately 7–10% across the evaluated geographies. This reduction is primarily driven by lower module procurement volumes, reduced DC-side balance-of-system requirements and decreased civil and structural quantities resulting from optimised DC sizing. As a result, HSAT systems consistently may achieve lower Levelized Cost of Energy across all assessed geographies. Across the analysed cases, the analysis showed that the combination of reduced capital intensity and higher annual energy yield produces a durable LCoE advantage, reinforcing trackers as a capital-efficient and execution-friendly solution in tariff-sensitive procurement environments.

As India accelerates renewable capacity addition and project developers seek sharper tariff competitiveness, the study underscores the growing importance of system-level optimisation in driving both technical performance and financial resilience in utility-scale solar projects.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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