The framework announces reciprocal tariff moves and sectoral openings on both sides. The key takeaway is a clear pathway toward a broader BTA with concrete, near-term gains.
DGFT has rolled out real-time NPCI validation for bank accounts in IEC issuance and modification. Applications will now depend on NPCI validation status to proceed, auto-approve, or face rejection.
The regulator cancelled registration after the valuer ceased to be a member of a Registered Valuers Organisation. The key takeaway is that RVO membership is a continuing and non-negotiable condition for practice.
The government revised the import policy for platinum articles, moving them from free to restricted import status. Only limited re-import categories are now permitted without restriction.
The Government reaffirmed that HUFs are assessable units solely for income tax purposes and lack corporate status. They cannot collect public money or operate as NBFCs or chit funds.
The 2026 notification revises the definition of startups, expanding eligibility to more entities while setting turnover and time limits. It clarifies innovation criteria and introduces updated compliance norms.
The order addresses an auditor’s omission to flag registered charges despite contrary financial disclosures. It confirms that such reporting lapses invite penalties under company law.
The Finance Bill, 2026 clarifies that section 144C timelines govern final assessment orders. Sections 153 and 153B apply only up to the draft order stage, ending years of controversy.
The Finance Bill, 2026 introduces a clear definition of “commodity derivative” in the Income-tax Act, 2025. This aligns the new law with existing tax provisions and removes ambiguity.
The Finance Bill, 2026 defines authorised person by linking it to FEMA provisions. This brings clarity on who is responsible for tax compliance in payments to non-residents.
