High-risk cases involving benami transactions, foreign assets, and TDS defaults have been identified for verification and investigation under various tax laws.
The department has identified high-risk cases across multiple assessment years and enabled reassessment action through the Insight portal.
The notification removes Policy Condition No. 2(iii) from Chapter 95 of ITC (HS). This change alters the applicable import policy framework with immediate effect.
The Securities and Exchange Board of India proposes simplified nomination norms for demat accounts and mutual fund folios to ease investor onboarding. The consultation suggests fewer mandatory nominee details, default nomination, and a cap of four nominees.
ICAI has recommended mandatory verification of the Certificate of Practice for Chartered Accountants appearing before GSTAT to ensure compliance with statutory requirements.
The exemption for disability pension has been preserved under the Income-tax Act, 2025 to maintain the relief previously available under earlier tax laws.
The government informed Parliament about measures taken with RBI and other agencies to identify and block illegal loan apps operating through unauthorized platforms.
The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentiality provisions under the Income Tax Act.
The government informed Parliament that mule accounts are increasingly used in cyber frauds. RBI has introduced AI-based tools and stricter monitoring to detect suspicious transactions.
CBIC has issued a circular allowing stranded Indian nationals to bring pet dogs and cats into India with relaxed documentation requirements. The one-time measure addresses extraordinary circumstances in war-affected regions.
