Form 16 certifies total donations made for scientific research and must be issued annually by prescribed institutions. However, deduction is subject to statutory conditions and verification by tax authorities.
Form 14 provides formal approval of in-house R&D facilities by DSIR. However, deduction is allowed only upon fulfilment of statutory conditions and verification by tax authorities.
Form 11 must be filed by companies seeking approval of in-house R&D facilities under Section 45(2). While it establishes eligibility, actual deduction depends on compliance with statutory conditions and verification.
Form 10 requires prescribed authorities to report approved research programmes to tax authorities. It ensures monitoring and verification of deductions claimed under the law.
Form 6 must be filed to claim deductions under Sections 44 and 51, as it provides audit-certified verification of expenditure. Non-filing can lead to disallowance and compliance risks.
SEBI consolidates all mutual fund guidelines into a single master circular aligned with the 2026 Regulations. It replaces earlier circulars while ensuring continuity of past actions and compliance obligations.
CBIC appoints a common adjudicating authority to handle multiple show cause notices across jurisdictions. The move ensures uniform decisions and streamlined adjudication.
Net direct tax collections for FY 2025–26 grew by 7.19%, primarily supported by a decline in refunds. Lower refund outflows improved overall revenue realization. This reflects stronger fiscal efficiency and better tax administration.
A company was penalized for filing incorrect details in MGT-7 despite claiming a clerical mistake. The ruling clarifies that errors in statutory filings attract penalties even if later corrected.
The amendments permit specified trusts to convert into LLPs with continuity of assets and liabilities. The key takeaway is simplified restructuring without disrupting operations.
