ED Transfers 455 Assets Worth ₹15,582 Cr to Justice Lodha Committee for PACL Investor Refunds Under Supreme Court Order

FAST-DS 2026: Income Tax Dept Nudges Taxpayers to Disclose Foreign Assets by Dec 31

The Income Tax Department has begun emailing taxpayers who may hold undisclosed foreign assets, urging them to use the FAST-DS 2026 disclosure window (open till Dec 31, 2026). This one-time compliance scheme is crucial for small taxpayers like students, NRIs, and tech employees holding ESOPs or overseas accounts, with penalties up to ₹1 lakh or 30% tax plus additional tax.

DGCA Orders One-Time Drug Test for All 14,000 Pilots by July 2027 under CAR

Following an Air India pilot testing positive for drugs after a Phuket-Delhi flight lost altitude, the DGCA has ordered a one-time drug test for all ~14,000 Indian airline pilots by July 2027, replacing the current random 10% annual testing. This marks a major regulatory tightening with potential UPSC prelims focus on DGCA functions and CAR provisions.

CBDT Decriminalises Tax Defaults: Removes Arrest Provisions from Recovery Rules Under Finance Act 2026

The CBDT has removed arrest and detention provisions from tax recovery rules with retrospective effect from April 1, 2026, aligning with Budget 2026-27’s decriminalisation of technical defaults. Tax recovery will now rely solely on property attachment and sale, marking a shift from personal coercion to property-based measures.

ECI Resolves Internal Divide: Voters Exempted, Form 6 Reverted; Maharashtra Drought in 75% Tehsils; Bank Unions Strike from Sept 28

The Election Commission addressed internal concerns by exempting voters from hearings for discrepancies, reverting Form 6 changes, and setting up a committee on ECINet. Maharashtra declared drought in 75% of tehsils with an 18% rainfall deficit, triggering relief measures. Bank unions called a three-day nationwide strike demanding a five-day workweek and PLI changes.

ICAI Reviews CA Curriculum to Integrate AI, ESG, Forensic Auditing; Launches AURA 2.0 and International Programme

ICAI is overhauling the CA curriculum to include AI, data analytics, ESG, and forensic auditing to keep pace with global technological shifts. It is also developing an international CA programme for countries like Mauritius, Nepal, and African nations, and launching advanced AI training for members and students.

SC Stays HC Order Declaring NSEI as 'Public Authority' Under RTI Act Section 2(h)

The Supreme Court has stayed a Delhi High Court order that declared the National Stock Exchange of India (NSEI) a 'public authority' under Section 2(h) of the RTI Act. This means citizens cannot currently enforce their right to information from NSEI. The case challenges whether a stock exchange, though controlled by the government, should be treated as a public authority.

CBI Registers ₹1,816.22 Cr EPFO Investment Fraud Case Against Reliance Capital, Anil Ambani

The CBI has registered a major fraud case involving EPFO funds invested in Reliance Capital NCDs. This highlights issues of corporate governance, public sector investment safety, and regulatory oversight. For exams, focus on EPFO's investment norms, CBI's jurisdiction, and criminal provisions invoked.

Supreme Court Clarifies July 31 Order: Media Can Report Proceedings But Cannot Use Audio-Video Clips

The Supreme Court clarified that news outlets can report court proceedings but cannot use audio or video clips in their reports. This balances open justice with preventing misuse of selective clips. Key for understanding judicial transparency and media regulation.