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April 4, 2026
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Indian pharmaceutical exports show sustained growth as formulations, biologicals, vaccines and Ayush products drive resilience.
Indian pharmaceutical exports recorded sustained growth in FY26, reaching nearly USD 29 billion by the end of February and increasing over the corresponding period in the previous financial year. The export performance was led by formulations, biologicals, vaccines and Ayush products, and was described as resilient despite global challenges, pricing pressures and trade volatility. The sector's overall value was placed at about USD 60 billion, with projected expansion to USD 130 billion by 2030.
April 4, 2026
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Recognised Provident Fund recognition process requires trust deed compliance, supporting documents, scrutiny and ongoing investment and reporting obligations.
Application under Rule 40C seeks recognition of a provident fund so it qualifies as a Recognised Provident Fund for income-tax purposes. It applies to employers, trustees and existing funds seeking recognition on formation, conversion, amendment, merger or split. The form requires trust deed details, fund rules, investment policy, financial information and supporting documents, followed by scrutiny, possible revisions, issuance of recognition and ongoing compliance with investment, audit and reporting requirements.
April 4, 2026
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Recognised Provident Fund recognition through Form 186 depends on disclosure, supporting documents, and compliance with trust conditions.
Form 186 is the prescribed application for seeking recognition of a provident fund as a Recognised Provident Fund for income-tax purposes. It is filed by the employer, trustees, or an existing trust seeking recognition, and is ordinarily a one-time application subject to refiling or intimation for material changes in the trust deed or fund rules. The form requires detailed disclosures and supporting documents, and on approval the fund attains RPF status with tax treatment governed by applicable statutory limits and conditions. Recognition may later be withdrawn for non-compliance.
April 4, 2026
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Recognised provident fund accounting in Form 185 requires annual subscriber-wise records of contributions, interest, withdrawals, and balances.
Rule 294 requires recognised provident fund accounts to be prepared at intervals not exceeding twelve months, with a separate account maintained for each subscriber in Form 185. The form is maintained internally by the provident fund trust or authorised officers, and records subscriber particulars, opening balance, monthly contributions, interest, withdrawals or advances, closing balance, and verification. Part A is maintained separately for each subscriber, while Part B presents the same information in consolidated annual subscriber-wise form.
April 4, 2026
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Recognised Provident Fund recordkeeping requires Form 185 to track contributions, interest, withdrawals, and annual balances.
Form No. 185 is the prescribed accounting format for individual subscriber records under a Recognised Provident Fund, maintained by trustees or authorised officers under the Income-tax Rules. It records annual subscriber-wise particulars such as contributions, interest credited, withdrawals or advances, opening and closing balances, and verification details. Part-A is kept for each subscriber, while Part-B is the annual consolidated abstract filed with the Assessing Officer.
April 4, 2026
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Deduction audit report for petroleum and natural gas businesses requires deposit verification, withdrawal checks, and Chartered Accountant certification.
Form No. 183 is the prescribed audit report for claiming deduction under section 49 in the business of prospecting, extracting, or producing petroleum, natural gas, or both in India. It is furnished by a Chartered Accountant and verifies audit of the relevant books, timely deposit into the specified account, permitted use of withdrawals, disallowance of inadmissible expenditure, and transfer restrictions on assets acquired under the scheme. The form is filed annually before the return due date and requires supporting records of books, deposits, withdrawals, and asset transfers.
April 4, 2026
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Supply chain disruption hits Bikaner snack exports as conflict delays shipments and raises freight and input costs.
West Asia conflict has disrupted Bikaner exports and imports, causing delays in shipments of bhujia, papad, namkeen and spices to Gulf and European markets. Traders report longer transit routes, container shortages, higher freight charges, rising raw material and packaging costs, and consignments stuck at ports or in transit, affecting the city's export-driven economy.
April 4, 2026
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Audit report for petroleum and natural gas deduction claims requires certification, supporting records, and online filing compliance.
Form No. 183 is the prescribed audit report under Rule 291 read with Section 49 of the Income-tax Act, 2025 for an assessee engaged in the business of prospecting, extracting, or producing petroleum, natural gas, or both in India. It is mandatory where the deduction is claimed and must be certified by an Accountant. The form requires supporting books, financial statements, evidence of deposits and withdrawals from the specified account, and a computation showing that the deduction remains within the permissible limit.
April 4, 2026
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Deduction claim audit report for tea, coffee and rubber businesses requires Chartered Accountant certification and compliance with deposit rules.
Form No. 182 is a statutory audit report for assessees engaged in growing and manufacturing tea, coffee or rubber who claim deduction under section 48. It must be furnished by a Chartered Accountant annually before the return due date and certifies audit of books, timely deposit in the specified account or approved scheme, withdrawal utilisation, disallowable amounts, asset transfers, and the deduction permissible. The form is now a smart, tabulated e-form with mandatory professional identifiers and standardised fields for e-filing and validation.
April 4, 2026
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Tax deduction audit report rules require prescribed certification, verified deposits, and portal filing for tea, coffee and rubber businesses.
Form No. 182 is the prescribed audit report for assessees engaged in growing and manufacturing tea, coffee or rubber in India who claim deduction under section 48. It must be certified by an Accountant and furnished annually before the return due date. The report is mandatory for the deduction claim, supports verification of deposits, withdrawals, utilisation and deduction computation, and is completed through the e-filing portal with digital signing and assessee acceptance.
April 4, 2026
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Electoral trust audit reporting through Form 181 requires electronic disclosure of contributions, distributions, and administration expenses.
Form 181 is the annual audit report for electoral trusts, to be furnished electronically by an accountant through the e-filing portal before the return due date. It requires disclosure of voluntary contributions received and distributed, application for the benefit of persons or interested persons, and expenditure on administration or management of the trust. The form has been simplified and aligned with the Income-tax Act, 2025.
April 4, 2026
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Digital audit report requirements govern electoral trusts claiming exclusion of voluntary contributions from total income.
FN 181 is a mandatory digital audit report for an electoral trust seeking exclusion of reported voluntary contributions from total income. It must be prepared by an accountant, filed electronically with the Commissioner of Income Tax (CPC) through the e-filing portal, and submitted on or before the due date for filing the return of income. The form cannot be filed offline or edited after submission, and a valid PAN is mandatory for filing.
April 4, 2026
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Employee welfare fund approval under income tax rules depends on notified purposes, verified disclosure, and hearing before rejection.
Form 180 is the electronic application for approval or renewal of an employee welfare fund established for notified purposes under section 11(3) read with Schedule VII, to be filed by the trust or fund before the jurisdictional PCIT/CIT and verified by the trustee or principal officer. The form requires details of the trust or fund, employer organisation, objects, trustees, employee membership, contributions, income, application or accumulation of funds, along with the trust deed, activity notes and accounts. Approval is granted only if the prescribed conditions are satisfied, for a period not exceeding three tax years, and rejection requires recorded reasons and an opportunity of hearing.
April 4, 2026
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Employee Welfare Fund approval through Form 180 requires online filing, valid PAN, and strict trust-based eligibility conditions.
Form 180 is the prescribed electronic application for an Employee Welfare Fund seeking approval or renewal from the jurisdictional Principal CIT/CIT. The fund must be a trust for notified welfare purposes for serving employees or their dependents, and the application must be verified by the trustee or principal officer. Filing is mandatory for approval, which confers pass-through treatment and tax exemption subject to conditions. The form can be filed only online, cannot be edited after submission, and requires a valid PAN and supporting documents.
April 4, 2026
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Business connection in India compliance through Form 173 for eligible investment funds and annual verification of eligibility conditions.
Form 173 is a statement furnished by an eligible investment fund to verify compliance with the conditions for claiming that its activities do not constitute a business connection in India. The form is filed once in a tax year within 90 days from the end of the tax year, and it contains particulars on residence, tax identification number, Schedule I compliance, participation interests in India, fund manager remuneration, and investment profits. Supporting documents may include approval orders, registrations, financial statements, and remuneration contracts.
April 4, 2026
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Eligible investment fund reporting under no-business-connection rules requires mandatory online Form 173 filing and digital signature compliance.
Form 173 is the mandatory statement for an eligible investment fund to establish that its activities do not create a business connection in India. It must be filed once in a tax year, within 90 days from the end of the tax year, by the fund manager or designated person, only through the Income Tax e-filing portal, and it cannot be edited after submission. The form requires supporting fund details, registrations, financial statements, and digital signature compliance, and a valid PAN is mandatory.
April 4, 2026
Show AI Summary
Eligible investment fund reporting under Form 172 requires accountant certification, electronic filing, and compliance with prescribed conditions.
Form 172 is the accountant's report for an eligible investment fund to establish fulfilment of prescribed conditions relevant to section 9(12) and the claim that the fund's activities do not create a business connection in India. It is prescribed under Rule 274(7), filed once in each tax year by the appointed accountant, and due by 31 October of the succeeding tax year. The form is filed electronically with a UDIN and digital signature, and non-filing may attract penalty under section 447.
April 4, 2026
Show AI Summary
Business connection in India reporting through Form 172 requires mandatory electronic filing, UDIN generation, and supporting documentation.
Form 172 is the mandatory accountant's report for an eligible investment fund to show compliance with conditions for claiming no business connection in India. It is filed once in a tax year by the appointed accountant through the Income Tax e-filing portal, after UDIN generation and digital signature. The form requires a valid PAN, cannot be edited after submission, and may need supporting documents such as fund manager details, SEBI registrations, financial statements, and contracts relating to the fund manager's activities and remuneration.
April 3, 2026
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Authorised Income Tax Practitioner registration under Form 171 depends on eligibility, supporting documents, and authority verification.
Form 171 is the one-time application for registration as an authorised Income Tax Practitioner under the specified eligibility categories in section 515(3) of the Income Tax Act, 2025. Eligible applicants include accountants, persons who have passed a recognised accountancy examination, and other qualified persons recognised by the Central Board of Direct Taxes. The form requires applicant details, the claimed eligibility category, qualifications, prior tax appearances, and supporting documents, and is filed with the jurisdictional Income Tax Authority for verification and registration.
April 3, 2026
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Authorised Income-tax Practitioner registration through Form 171 requires eligibility details, supporting documents, and one-time filing.
Form 171 is the prescribed application for registration as an Authorised Income-tax Practitioner under section 515 of the Income-tax Act 2025 and must be filed with the jurisdictional Chief Commissioner or Commissioner of Income-tax. The application is mandatory for recognition in that capacity, may be filed after eligibility arises, and is a one-time filing unless otherwise directed. It requires applicant particulars, eligibility details, qualifications, supporting documents, and relevant firm or association details. On approval, the applicant's name is entered in the Register of Income-tax Practitioners and a Certificate of Registration is issued.

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News and Press Release

Flash Report on Central Sector Infrastructure Projects worth ₹150 crore and above

April 25, 2026

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PAIMANA Portal Tracks 1,941 Infrastructure Projects worth ₹41.50 lakh crore as of March 2026

The Ministry of Statistics and Programme Implementation (MoSPI) continues to strengthen monitoring of Central Sector infrastructure projects through its PAIMANA platform, enabling improved tracking, timely reviews, and data-driven decision-making across Ministries. The portal tracks 1,941 Infrastructure Projects worth of ₹41.50 lakh crore as of March 2026.

Key Highlights

  • As of March 2026, 1,941 ongoing infrastructure projects, with a total revised cost of ₹41.50 lakh crore, are being monitored across 17 Central Ministries/Departments. The cumulative expenditure incurred on these projects stands at ₹19.93 lakh crore, accounting for approximately 48.02 per cent of the revised project cost, indicating steady progress in project implementation.
  • A significant proportion of projects are at advanced stages, with 777 projects (~40%) achieving over 80% physical progress, while 261 (~13%) have crossed 80% financial completion. The data also reflects a balanced pipeline, with projects distributed across early and advanced stages of implementation.
  • The Transport & Logistics sector (as per the DEA’s Harmonized Master List) accounts for the highest number of ongoing projects (1428 projects), with revised estimates of ₹22.66 lakh crore underscoring priority to connectivity-driven infrastructure growth.
  • 1,941 ongoing infrastructure projects include 786 Mega projects (project cost of ₹1,000 crore & above) with an original cost of ₹30.48 lakh crore, and 1,155 Major projects (project cost below ₹1,000 crore and up to ₹150 crore) amounting to ₹5.41 lakh crore.
  • Physical and financial progress broadly move in tandem, with a large number of projects clustered at the initial (0–20%) and advanced (81–100%) stages, indicating a pipeline of newly-started projects alongside many nearing completions. While physical progress exceeds financial progress in the 81–100% range, financial progress is relatively higher in the early stages, reflecting upfront expenditure patterns in project implementation.

2.   Ministry/ Departments-wise progress of Infrastructure Projects

  • Ministry of Road Transport & Highways accounts for the highest number of projects, with 1120 projects (58%), and a share of total revised project cost of ₹10.61 lakh crore (26%), highlighting its central role in national infrastructure development.
  • Ministry of Railways is implementing 244 projects (13%), and also commands the largest share of total revised project cost at ₹8.37 lakh crore (20%).
  • Ministry of Coal accounts for implementing 127 projects (6%), with a total revised project cost of ₹2.46 lakh crore (6%).
  • The Ministry of Petroleum & Natural Gas, Ministry of Power, Ministry of Housing & Urban Affairs, and the Department of Water Resources, River Development & GR are implementing 108, 98, 53, and 49 projects, with associated revised costs of ₹5.11 lakh crore, ₹5.14 lakh crore, ₹3.6 lakh crore, and ₹2.26 lakh crore, respectively.
  • The remaining 142 projects (7%), with a total revised cost of ₹3.96 lakh crore (10%), are distributed across various Ministries/Departments including Higher Education, Civil Aviation, Steel, Telecommunications, Labour & Employment, Ports, Shipping & Waterways, Health & Family Welfare, Mines, DPIIT, and Sports. (Refer Annexure I)

3.   Sector-wise (as per DEA’s Harmonized Master List of Infrastructure) Progress of Infrastructure Projects

  • Transport & Logistics remains the dominant sector, accounting for 55% of total revised cost (₹22.66 lakh crore) across 1,428 projects (73 % of the total Projects), underscoring the central role of Roads & Highways, Railways, Aviation, Urban Public Transport, Shipping, and Inland Waterways in economic integration and logistics efficiency.
  • The Energy sector follows with 26% of aggregated revised cost (₹10.79 lakh crore) across 212 projects, reflecting sustained emphasis on Oil & Gas infrastructure, electricity generation, transmission and distribution networks, and energy storage systems.
  • Communication infrastructure, with a revised cost of ₹2.73 lakh crore (7%) across 12 projects, represents targeted interventions aimed at strengthening digital connectivity.
  • Water & Sanitation projects account for ₹2.31 lakh crore (5%) across 71 projects, highlighting continued focus on essential urban services.
  • Social & Commercial infrastructure, comprising 73 projects with a revised cost of ₹0.79 lakh crore (2%), reflects selective investments in education, healthcare, real estate, and tourism, hospitality and wellness.
  • Projects classified under ‘Others’, amounting to ₹2.20 lakh crore (5%) across 145 projects, indicate diversification across sectors such as coal, steel, metals, and mining.

(Refer Annexure II)

4.   Completed Projects and New Additions

  • During March 2026, 25 projects were commissioned, including major assets in Road Transport & Highways, Petroleum & Natural Gas, Housing & Urban Affairs, Railways, Power, Ports, Shipping and Waterways, Telecommunications, Steel and Labour and Employment. Notable commissioned projects include the “Delhi-Ghaziabad-Meerut Regional Rapid Transit System [RRTS] corridor” (₹ 30,274 crore) from Ministry of Housing & Urban Affairs, and the “Tehri Pumped Storage Plant Project [4x250 MW] (₹ 8,339 crore) from Ministry of Power.
  • During March 2026, 12 additional projects from MoRTH were brought under the monitoring of PAIMANA.

5.    Next date of Press Release: Flash Report for the month of April 2026 would be released on 25th May 2026.

Note

  1. The press release summarizes highlights from the MoSPI’s Flash Report (March 2026) on Central Sector Infrastructure Projects (₹150 crore and above), available at https://www.ipm.mospi.gov.in/ or via the QR code.

 

  1. PAIMANA is a centralized web-based portal for monitoring of Central Sector Infrastructure Projects worth ₹150 crore and above. Operating on the "one data, one entry" principle, it integrates with DPIIT’s IPMP portal via APIs to automatically update more than 70% of project data from various Ministries/Departments. PAIMANA also serves as a national repository designed to standardize infrastructure monitoring and support informed decision-making for nation-building.

Annexure I

Ministry/ Departments-wise progress of Central Sector Infrastructure Projects

S. No

Ministry/ Department

Project Count

Revised Cost

(₹ Lakh cr.)

Cumulative Expenditure           (₹ Lakh cr.)

1

Ministry of Road Transport & Highways

1120

10.61

3.52

2

Ministry of Railways

244

8.37

5.69

3

Ministry of Coal

127

2.46

0.80

4

Ministry of Petroleum & Natural Gas

108

5.11

2.99

5

Ministry of Power

98

5.14

1.94

6

Ministry of Housing & Urban Affairs

53

3.60

1.98

7

Department of Water Resources, River Development & GR

49

2.26

1.61

8

Department of Higher Education

29

0.14

0.08

9

Ministry of Civil Aviation

26

0.23

0.11

10

Ministry of Health & Family Welfare

23

0.21

0.08

11

Ministry of Steel

19

0.23

0.10

12

Ministry of Labour and Employment

12

0.03

0.02

13

Department of Telecommunications

12

2.73

0.77

14

Ministry of Ports, Shipping and Waterways

11

0.22

0.15

15

Ministry of Mines

6

0.10

0.07

16

Department for Promotion of Industry & Internal Trade

3

0.05

0.01

17

Department of Sports

1

0.01

0.01

 

Total

1941

41.50

19.93

 

Annexure II

Sector-wise (as per DEA’s Harmonized Master List of Infrastructure) progress of Central Sector Infrastructure Projects

S. No

HML Category

Project Count

Revised Cost      (₹ Lakh cr.)

Cumulative Expenditure      (₹ Lakh cr.)

1

Transport & Logistics

1428

22.66

11.28

2

Energy

212

10.79

5.21

3

Water & Sanitation

71

2.31

1.65

4

Communication

12

2.73

0.77

5

Social & Commercial

73

0.79

0.34

6

Others

145

2.21

0.67

 

Total

1941

41.50

19.93

 

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