Daily Regulatory Intelligence · 6 August 2026 · Estimated reading time: 5 minutes · Archived edition
Executive Summary
Two developments worth a practitioner’s attention today: CBDT has formalised the block-assessment return (ITR-BN) for search/requisition cases under the new Income-tax Act, and RBI has opened public comments on a full rewrite of the FDI rulebook.
Today’s Headlines
- Income Tax: CBDT notifies ITR-BN for block assessments (Search & Requisition cases, Income-tax Act 2025) — Read the full analysis →
- FEMA: RBI’s draft Foreign Investment Rules, 2026 propose replacing the NDI Rules, 2019 — Read the full analysis →
Notification Watch
- Income Tax e-filing portal: new integrated payment module live, spanning both the 1961 Act and 2025 Act.
- AIS enhancement: taxpayers can now view Foreign Asset Information directly within the Annual Information Statement on the e-filing portal.
- ITR-5 (online) and ITR-6 (Excel utility) for AY 2026-27 now available for filing.
Compliance Alerts — This Week (6–12 August 2026)
- 7 Aug — TDS/TCS Deposit (non-March)
- 10 Aug — GSTR-7 & GSTR-8
- 11 Aug — GSTR-1 (Monthly)
Did You Know?
The Income-tax Act, 2025’s block-assessment framework requires year-wise disclosure within the block period — a granularity that didn’t exist in quite the same structured form under the erstwhile Section 158BC regime.
Quiz of the Day
Under the Income-tax Act, 2025, which section governs “requisition” (as distinct from “search”) for triggering block-assessment proceedings?
Answer: Section 248.
Tomorrow We’re Watching
- GST Council’s 57th meeting — awaiting confirmed date and agenda.
- RBI’s draft Foreign Investment Rules, 2026 — public comment window closes 31 August 2026.
- Any follow-up circulars or FAQs from CBDT on ITR-BN filing mechanics.
Related Articles
- CBDT Notifies ITR-BN: New Block Assessment Return for Search & Requisition Cases
- RBI’s Draft Foreign Investment Rules, 2026: NDI Rules Set for Ground-Up Rewrite
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