The Directions mandate robust KYC and AML/CFT controls for AIFIs with immediate effect. The key takeaway is stricter customer identification and monitoring aligned with FATF standards.
The government has notified approval under Section 35(1)(ii), allowing donors to claim income-tax deductions for eligible scientific research contributions.
The government has approved an institution for scientific research under Section 35(1)(ii), allowing eligible tax deductions for donations from AY 2026–27 to 2030–31.
The government has relaxed restrictions on organic sugar exports, permitting shipments up to 50,000 MT per financial year under prescribed procedures.
The Directions prescribe standardised presentation and disclosure norms for All-India Financial Institutions. The key takeaway is enhanced consistency and transparency in AIFI financial statements.
The portal will restrict GSTR-3B filing if ITC reclaims exceed ledger balances. The key takeaway is mandatory correction of excess ITC before return filing.
The circular mandates standard formats for beneficial ownership statements and section 32A affidavits in resolution plans. The key takeaway is enhanced transparency and accountability of resolution applicants.
The FAQs clarify how the 50% wage rule increases gratuity and leave liabilities and why these changes must be treated as past service costs under accounting standards.
The government clarified that gratuity for civil service after re-employment will not be restricted by gratuity already received for military service. The key takeaway is full eligibility for civil gratuity under NPS rules.
The Financial Services Annex commits both countries to collaborate on interoperable payment systems, fintech innovation, and regulatory sandboxes. It positions India’s digital payment expertise for global expansion while strengthening bilateral financial integration.
