RBI reported that 98.44% of ₹2000 banknotes in circulation have been returned since the withdrawal announcement in May 2023. However, ₹2000 notes continue to remain legal tender.
The article links rising tensions involving the USA, Israel, and Iran to long-standing struggles over oil control. It also connects modern geopolitical conflict to escalating global debt and financial instability.
Draft Rules 188 and 189 require registered non-profits to file audit reports one month before return due date and prescribe a detailed fair market value methodology for computing accreted income under section 352.
Courts have held that non-compliance with mandatory procedures under Section 144B renders faceless assessment orders void. The rulings reaffirm that digital tax reforms cannot override constitutional safeguards of fairness and the right to be heard under Article 14.
Draft Rule 187 mandates comprehensive maintenance of books, corpus records, investment details, and related-party transaction documentation by registered non-profit organisations to ensure transparency and long-term compliance.
Draft Rules 184 to 186 require registered non-profit organisations to electronically file Forms 108, 109, and 110 within the return due date for deemed application, income accumulation, and change of purpose, ensuring strict procedural compliance.
Draft Rules 182 and 183 require registered non-profit organisations to compute commercial gains separately and tax any benefits extended to related persons at fair value, ensuring transparency and preventing diversion of charitable resources.
Rule 181 of the Draft Income-tax Rules, 2026 introduces a unified electronic application system for non-profit registration and tax approval, detailing forms, authorities, cancellation, surrender, and re-application procedures.
ICAI announced the CA Final January 2026 results, with 11,282 candidates clearing Group I at a 21.03% pass rate. Group II recorded a 9.76% pass percentage, and 2,446 candidates cleared both groups.
Draft Rule 180 prescribes Form ITR-BL and electronic filing modes for block assessments, ensuring standardized reporting and verification of undisclosed income.
