Form 157 is required for individuals leaving India without PAN or taxable income. It ensures proper declaration and documentation, even where no tax liability arises, simplifying compliance for such taxpayers.
Form 155 is issued by the tax authority only after reviewing Form 154 and verifying tax liability status. It confirms that no dues remain, ensuring compliance before departure from India.
Form 154 links tax clearance to an undertaking by an employer or representative. It ensures that any tax arising from Indian income is paid even after the taxpayer exits India.
Form 152 under the Income-tax Act, 2025 provides a mechanism for taxpayers to intimate the Assessing Officer when an advance tax demand issued under section 289, pursuant to sections 407(2) or 407(5), is considered excessive. It allows the assessee to furnish a revised and lower estimate of income subject to advance tax along with reasons […]
The direction requires entities to obtain LEI codes for participating in RBI-regulated financial markets. Non-compliance results in ineligibility for transactions. Key takeaway: LEI is now essential for market participation.
Form 145 must be filed before making payments to non-residents. The ruling ensures prior reporting and proper TDS compliance. This strengthens monitoring of cross-border transactions.
Refund of excess TDS/TCS is not allowed if the deductee has already claimed credit. The ruling prevents double benefit and ensures proper reconciliation of tax credits.
Form 136 applies only to government offices making TDS/TCS payments through book adjustment. This ensures targeted compliance and avoids unnecessary registration.
The provision mandates filing of Form 101 only when directed by the Assessing Officer. The rule ensures independent and accurate valuation of inventory through a Cost Accountant, impacting taxable income.
Form 130 is essential for claiming TDS credit on salary, pension, and interest income. The ruling mandates issuance through TRACES for validity. This ensures transparency and proper tax credit reporting.
