Draft Rule 41 of the Income-tax Rules, 2026 defines the meaning of “actually paid” for spectrum fee deductions under Section 52. It distinguishes between upfront and deferred payment options and mandates reassessment if spectrum allocation is terminated due to non-compliance.
Rule 40 of the Draft Income-tax Rules, 2026 sets mandatory audit, reporting, expense restrictions, and employee training limits for skill development projects notified under section 47(1)(b). The key takeaway is that non-compliance can trigger Board action, including revocation of notification.
Rule 39 of the Draft Income-tax Rules, 2026 lays down a detailed approval mechanism involving NCVET, the Commissioner of Income-tax, and CBDT for skill development projects under section 47(1)(b).
The Food Safety and Standards Authority of India proposed amendments to align food product standards with the Packaging Regulations, 2018 and Labelling and Display Regulations, 2020. The draft replaces references to the earlier 2011 packaging and labelling framework across multiple provisions.
SC disposed of a plea against a film title after producer withdrew it but clarified that denigrating any community is constitutionally impermissible. SC stressed that free speech restrictions under Article 19(2) must remain reasonable and not oppressive.
The regulator has amended its 2022 AML/CFT Guidelines to permit OTP-based Aadhaar e-KYC authentication for regulated entities in IFSCs. The change expands digital customer verification methods with immediate effect.
IBBI introduces standardized valuation formats, harmonised standards, and a Coordinating Valuer mechanism to improve credibility and comparability under the IBC.
Before seeking voluntary strike off, LLPs must file Forms 8 and 11, close bank accounts, settle liabilities, and submit a CA-certified nil balance statement. The Registrar publishes notice before final removal of name.
The IBBI Disciplinary Committee held that continued operation of a CIRP bank account after commencement of liquidation violates Sections 34 and 36 of the Code. The professional’s registration was suspended for two years for unauthorised transactions post-liquidation.
IFSCA has directed IFSC Banking Units to clearly include GIFT IFSC Banking Unit in their SWIFT BIC names to avoid misrouting of cross-border remittances. Compliance reporting is mandatory by June 30, 2026.
