Notification 20/2026-Customs grants customs duty and AIDC concessions on specified imports from Oman, including TRQ benefits, from 1 June 2026.
Notification No. 25/2026 revises SAED on ATF exports to Rs 9.5 per litre with effect from 1 June 2026; domestic petrol and diesel duties unchanged.
Notification No. 24/2026 revises SAED rates on petrol and diesel exports from 1 June 2026, setting duty at Rs 1.5 and Rs 13.5 per litre.
CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benefits. The approval remains effective for tax years 2026-27 to 2030-31, subject to compliance requirements.
CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benefits. The approval remains valid from tax year 2026-27 through 2030-31, subject to compliance conditions.
CBDT has granted scientific research approval to a biotechnology institution under the Income-tax Act, 2025. Eligible donations made during tax years 2026-27 to 2030-31 may qualify for prescribed tax benefits.
CBDT has granted approval to a higher educational institution for scientific research under the Income-tax Act, 2025. Eligible donations made during tax years 2026-27 to 2030-31 may qualify for the prescribed tax benefits, subject to compliance conditions.
A new customs notification grants full exemption from customs duty and Agriculture Infrastructure and Development Cess on cotton imports. The relief is available for imports made between June and October 2026.
The RBI has amended FEMA Cross Border Merger Regulations by replacing references to NCLT with the broader term Competent Authority. The change ensures that merger approvals granted by any authority empowered under the Companies Act are recognized under FEMA.
CBDT has instructed tax officers to uniformly apply Sections 68 to 69D and Section 115BBE after a C&AG audit found inconsistencies in assessments and incorrect tax computations leading to revenue loss.
