Section 6 determines whether Indian or global income is taxable. Tax liability depends on physical presence and control, not citizenship.
The proposed Form 26 and Draft Rule 46(8) require financial data servers to be physically located in India and updated daily, tightening compliance obligations.
Section 139(8A) now permits filing of ITR-U within 48 months from the end of the assessment year. However, it cannot be used to reduce tax liability, claim refunds, or bypass departmental proceedings.
The new scheme offers up to 30% freight reimbursement (₹20 lakh cap) to eligible MSMEs exporting notified products from identified districts, effective 20 February 2026.
DGFT has introduced the FLOW initiative to address logistics and warehousing challenges faced by MSMEs in global markets. The scheme provides capped financial assistance and structured compliance conditions to improve export efficiency.
The government introduces INSIGHT under NIRYAT DISHA to strengthen export readiness through trade intelligence, skills development, and cluster-level facilitation.
DGFT has introduced TRACE under the Export Promotion Mission to partially reimburse MSMEs for testing, certification, and compliance costs. The scheme aims to strengthen India’s export quality ecosystem and facilitate global market access.
A new DGFT trade notice provides structured support for export factoring transactions undertaken by MSMEs. The scheme caps benefits at ₹50 lakh per year and applies only to eligible HS tariff lines and RBI/IFSCA-regulated entities.
The Madras High Court held that university affiliation, inspection, and related fees are not covered under GST exemption for services relating to admission or examination. The ruling clarifies that affiliation is a distinct taxable activity.
The Telangana High Court quashed rejection remarks under the 2024 scheme, holding that the order was too cryptic and lacked reasons. The matter was remanded for fresh consideration after personal hearing.
