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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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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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Customs & Trade

European leaders see Trump's troop drawdown from Germany as new proof they must go it alone

May 4, 2026

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Yerevan (Armenia), May 4 (AP) European leaders on Monday said US President Donald Trump's snap decision to pull thousands of American troops out of Germany came as a surprise but is a fresh sign that Europe must take care of its own security.

The Pentagon announced last week that it would pull some 5,000 troops out of Germany, but Trump told reporters on Saturday that “we're going to cut way down. And we're cutting a lot further than 5,000”.

He offered no reason for the move, which blindsided NATO, but his decision came amid an escalating dispute with German Chancellor Friedrich Merz over the US-Israeli war on Iran, and Trump's anger that European allies have been reluctant to get involved in the conflict in the Middle East.

Asked about the decision to pull out 5,000 troops from Germany, Norwegian Prime Minister Jonas Gahr Store said: “I wouldn't exaggerate that because I think we are expecting that Europe is taking more charge of its own security." “I do not see those figures as dramatic, but I think they should be handled in a harmonious way inside the framework of NATO,” he told reporters in Yerevan, Armenia, where European leaders are holding a summit.

The European Union's foreign policy chief, Kaja Kallas, said, “There has been a talk about withdrawal of U.S. troops for a long time from Europe. But of course, the timing of this announcement comes as a surprise.” “I think it shows that we have to really strengthen the European pillar in NATO,” she said.

Asked whether she believes that Trump is trying to punish Merz, who said that the US has been humiliated by Iran in talks to end the war, Kallas said: “I don't see into the head of President Trump, so he has to explain it himself.” Over the weekend, NATO spokesperson Allison Hart said that officials at the 32-nation military alliance “are working with the US to understand the details of their decision on force posture in Germany”.

European allies and Canada have known since just after he came to office again last year that Trump would pull troops out of Europe — indeed some left Romania in October — but US officials had pledged to coordinate any moves with their NATO allies to avoid creating a security vacuum.

NATO Secretary-General Mark Rutte played down the move, saying that “there has been at this point disappointment on the US side” about European support for the war on Iran.

Notably France, Spain and the UK have declined to give US forces free rein to use bases on their territory to attack Iran. Spain has denied them the use of its airspace and bases there for the war.

But Rutte, who has championed Trump's leadership at NATO despite the US president's criticism of the majority of the allies, said: “I would say the Europeans have heard a message. They are now making sure that all the bilateral basing agreements are being implemented.” Rutte added that European nations “have decided to pre-position assets, key assets, close to the theatre for the next phase.” He provided no details, but the Europeans have insisted they would not help police the Strait of Hormuz, a key energy trade route, until the war is over.

French President Emmanuel Macron said “if the United States is ready to reopen Hormuz, that's great. That's what we've been asking for since the beginning.” But he underlined that the Europeans are not ready to get involved in any operation “that does not seem clear to us”.

In another sign of friction with Merz, Trump has accused the EU of not complying with its US trade deal and announced plans to increase tariffs next week on cars and trucks produced in the bloc to 25%, a move that would be particularly damaging to Germany, a major automobile manufacturer.

Without mentioning Trump or the United States, European Commission President Ursula von der Leyen listed recent trade deals that the bloc has sealed with Australia and India, and is now working on with Mexico.

“With like-minded friends, you have stable, reliable supply chains and Europe has the biggest network of free trade agreements,” von der Leyen, who is from Germany, told reporters. (AP) SCY SCY

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