RBI Circular On Export Credit Interest Subsidy Under EPM Scheme 2026
Circular no. RBI/2025-26/195 DOR.STR.REC.393/04.02.001/2025-26 dated: 19.01.2026 1. Introduction: RBI Issues Export Credit Subsidy Circular for 2026 The Reserve Bank of India (RBI) has issued a circular dated 19 January 2026 to operationalise the Government of India’s pilot Export Promotion Mission (Niryat Prothsahan). The circular provides for interest subsidy on pre-shipment and post-shipment export credit to […]
New Labour Codes | Accounting Implications Explained
[2025] 171 taxmann.com 681 (Article) Introduction The enactment of the New Labour Codes marks a significant shift in India’s employment and compensation framework, with far-reaching implications for employee benefit accounting. One of the most consequential changes relates to the redefinition of “wages” and its direct impact on gratuity and other defined benefit obligations accounted for […]
AO Must Record Satisfaction Before Case Transfer | HC
Case Details: Paras Chandreshbhai Koticha vs. Income-tax Officer – [2026] 182 taxmann.com 204 (Gujarat) Judiciary and Counsel Details A.S. Supehia & Pranav Trivedi, JJ. Tushar Hemani, Sr. Adv., S.N. Divatia, B.S. Soparkar, Dhinal Shah, Vijay Patel, Ms. Vaibhavi Parikh, Manish J. Shah, Jimmy Patel & B.S. Soparkar, Advs. for the Petitioner. Varun K. Patel, Dev […]
Unequal Regularisation Not Justified By Appointment Terms | SC
Case Details: Ratnank Mishra vs. High Court of Judicature at Allahabad [2025] 181 taxmann.com 751 (SC) Judiciary and Counsel Details J.K. Maheshwari & Vijay Bishnoi, JJ. Paramjit Singh Patwalia, Sr. Adv., Anil Kumar, Gunjesh Ranjan, Ms. Deveshi Chand, Advs., Nischal Kumar Neeraj & Shantanu Sagar, AORs for the Appellant. Ms. Preetika Dwivedi, AOR, Abhisek Mohanty, […]
Industrial Court Order On ICC Findings Quashed | HC
Case Details: Vinod Narayan Kachave vs. Presiding Officer (ICC) – [2025] 181 taxmann.com 527 (HC – Bombay) Judiciary and Counsel Details Sandeep V. Marne, J. Ms. Sana Raees Khan, Juhi Kadu & Ms. Sanskriti Yagnik for the Petitioner. Facts of the Case In the instant case, the petitioner, an employee of respondent-employer, was proceeded against on […]
RBI Recognises FEDAI as SRO for Authorised Dealers
PR No. 2025-2026/1926; Dated: 14.01.2026 1. Introduction Reserve Bank of India (RBI) has recognised the Foreign Exchange Dealers’ Association of India (FEDAI) as a Self-Regulatory Organisation (SRO) for all authorised dealers under its Omnibus framework for SROs. 2. Recognition Under Omnibus SRO Framework The recognition brings FEDAI within RBI’s broader Omnibus framework for SROs, aimed […]
RBI Issues Draft On Owned Fund And Tier 1 Capital Norms
PR No. 2025-2026/1911; dated: 13.01.2026 1. Introduction Reserve Bank of India (RBI) has released draft amendment directions clarifying the computation of Owned Fund and Tier 1 Capital for Non-Banking Financial Companies (NBFCs) and Asset Reconstruction Companies (ARCs). 2. Objective Of The Draft Directions The draft aims to bring greater clarity and uniformity in regulatory capital […]
Audit Sampling Remains Key Despite AI Adoption
Introduction Artificial Intelligence has become one of the most transformative forces in professional services, including accounting and auditing. The modern auditor is no longer limited to spreadsheets, manual verification, or basic computer tools. Instead, AI powered solutions can quickly test entire data sets, detect unusual patterns, highlight anomalies, and interpret complex data relationships. However, the […]
Receipts From Leasing Educational Infrastructure Taxable as Business Income | ITAT
Case Details: Deputy Commissioner of Income-tax vs. Nord Anglia Education Infrastructure (P.) Ltd. [2025] 181 taxmann.com 240 (Visakhapatnam – Trib.) Judiciary and Counsel Details Ravish Sood, Judicial Member Balakrishnan S., Accountant Member Karnjot Singh Khurana, Snehal Rajan Shukla & Avar Lamba, Advs. for the Appellant. Badicala Yadagiri, CIT-DR for the Respondent. Facts of the Case The […]
Binny Bansal Held Resident in India Despite Singapore Shift | ITAT
Case Details: Binny Bansal v. DCIT – [2026] 182 taxmann.com 226 (Bangalore – Trib.) Judiciary and Counsel Details Prashant Maharishi, Vice President Keshav Dubey, Judicial Member Percy Pardiwala, Sr. Adv. for the Appellant. Arvind Kamath, ASG for the Respondent. Facts of the Case The principal issue before the ITAT was the determination of the residential […]