The week of October 13–19, 2025, saw significant regulatory activity across multiple domains: In Income Tax, several government bodies like the UP Awas Evam Vikas Parishad and Chennai Metropolitan Water Supply and Sewerage Board received income exemption under Section 10(46A), while the Supreme Court affirmed that a lull in business doesn’t preclude a non-resident company from claiming depreciation and deductions. The Gujarat High Court also directed the CBDT to ensure a one-month gap between tax audit and ITR due dates. For GST, the due date for filing GSTR-3B for September 2025 was extended to October 25, 2025, and GSTN released advisories and FAQs for filing the annual GSTR-9/9C for FY 2024-25. SEBI introduced a tiered disclosure standard for Related Party Transactions (RPTs), easing requirements for transactions below a specific threshold (lower of 1% of turnover or ₹10 crore). The MCA extended the deadline for filing e-forms like DIR-3-KYC to October 31, 2025, and provided a fee waiver for annual returns until December 31, 2025, following the deployment of revised e-Forms. Lastly, major IBC judgments included the Delhi High Court upholding the “Clean Slate Doctrine” for successful Resolution Applicants under Section 32A, and the NCLAT ruling that ESI dues held in trust by the Corporate Debtor do not form part of the liquidation estate. The week also saw the RBI allowing exporters to hold Foreign Currency Accounts in IFSCs and a hike in Central Government DA/DR to 58%.
A. Income Tax
Exemptions to UP Awas Evam Vikas Parishad: UP Awas Evam Vikas Parishad, an authority constituted under the Uttar Pradesh Awas Evam Vikas Parishad Adhiniyam, has been notified under section 10(46A) for exemption on its income, provided the authority continues to operate for specified purpose under section 10(46A)(a) of Act.
(Link: Income Tax Notification 153/2025 Dated 15/10/2025)
Exemptions to Rajasthan State Seed and Organic Certification Agency: Rajasthan State Seed and Organic Certification Agency, an authority constituted under the Seeds Act, has been notified under section 10(46A) for exemption on its income, provided the authority continues to operate for specified purpose under section 10(46A)(a) of Act.
(Link: Income Tax Notification 152/2025 Dated 15/10/2025)
Exemptions to Chennai Metropolitan Water Supply and Sewerage Board: Chennai Metropolitan Water Supply and Sewerage Board, a Board constituted under the Chennai Metropolitan Water Supply and Sewerage Act, has been notified under section 10(46A) for exemption on its income, provided the authority continues to operate for specified purpose under section 10(46A)(a) of Act.
(Link: Income Tax Notification 151/2025 Dated 15/10/2025)
Institute of Advanced Medical Research & Innovations Forum gets Income Tax approval for scientific research: The Principal Chief Commissioner of Income Tax (Exemptions), has approved Institute of Advanced Medical Research & Innovations Forum, Hyderabad, for ‘Scientific Research’ under section 35(1)(iia) read with rule 5F of Income Tax, for a period of five years, starting from the AY 2025-26. It will enable the foundation to receive certain benefits, related to its scientific research activities.
(Link: Income Tax PCCI (Exemptions) Notification 03/2025 Dated 17/10/2025)
Mazumdar Shaw Medical Foundation gets Income Tax approval for scientific research: The Principal Chief Commissioner of Income Tax (Exemptions), has approved Mazumdar Shaw Medical Foundation, Bangalore, for ‘Scientific Research’ under section 35(1)(iia) read with rule 5F of Income Tax, for a period of five years, starting from the AY 2025-26. It will enable the foundation to receive certain benefits, related to its scientific research activities.
(Link: Income Tax PCCI (Exemptions) Notification 02/2025 Dated 17/10/2025)
SC confirms that Lull Doesn’t Stop Depreciation & Deductions, Commercial Reality is Over Technicality, restores Deductions & Set-Off : Case of Pride Foramer vs CIT, SC Judgement Dated 17th October 2025. The apex court held that a non-resident company which continued engaging in commercial efforts and correspondence to secure contracts in India could not be said to have ceased business, merely because it lacked a physical office or an ongoing contract in the country during the assessment years. The Court allowed the company to claim deductions, set-off, and carry forward unabsorbed depreciation under Income-tax Act.
HC, Prosecuting Directors without Company is Abuse of Process: Case of Nilesh Agarwal vs ITO, HC Delhi Judgement Dated 9th October 2025. HC ruled that a director cannot be personally prosecuted for a company’s actions unless the company itself is made an accused. It held that failure to implead the company is a fatal defect, emphasizing that under Section 278B of the Income Tax Act, both the company and its officers must be jointly arraigned for liability.
HC Orders CBDT to ensure 1-Month gap between ITR & Tax Audit Dates: Case of Income Tax Bar Association vs Union of India, HC Gujarat Judgement Dated 13th October 2025. HC has directed the CBDT to ensure that there is a mandatory one-month gap between the date for furnishing tax audit reports (under Section 44AB) and the due date for filing the corresponding Income Tax Return (ITR). It asked CBDT to issue the necessary extension and clarificatory instructions.
B. GST
Extension of GSTR-3B for September month/quarter till 25th October 2025: CBIC has extended the due date for filing GSTR-3B returns for both monthly and quarterly filers. It specifies that registered persons required to furnish returns under Section 39(1) i.e. monthly filers, may now submit their GSTR-3B for September 2025 up to 25th October 2025. Similarly, those covered under the proviso to Section 39(1) i.e., quarterly return filers under the July–September 2025 quarter, have been granted the same extended deadline of 25th October 2025.
(Link: GST Notification 17/2025 Dated 18/10/2025)
GSTN, Advisory for GSTR 9/9C for FY 2024-25: It has been advised that GSTR-9/9C has been enabled on the GST portal from 12th October 2025. The taxpayers are required to ensure that all returns (GSTR 1 and GSTR 3B) for FY 2024-25 are filed to enable compilation of GSTR-9/9C.
(Link: GSTN Advisory Dated 15/10/2025)
GSTN, Advisory FAQs on GSTR -9/9C for FY 2024-25: A list of Frequently Asked Question along with the response has been compiled and is intended to assist the Taxpayer in better understanding of various Tables of GSTR-9/9C and their key aspects, such as reporting of various values in Tables.
— The key clarifications include auto- population of Tables 4, 5, 6, 8, and 9 from GSTR-1/1A/IFF, GSTR-2B, and GSTR-3B, and handling of ITC claimed, reversed, and reclaimed across current and preceding FYs, including Rule 37/37A cases. Table 8A reflects eligible ITC from GSTR-2B, while Table 8C captures ITC from the current FY claimed in the next FY. Amendments by suppliers affecting invoice dates and supplies crossing FYs are addressed for accurate auto-population. Label changes in Tables 6M, 8B, 12, 13, and 17 do not affect reporting, and ITC reclaimed under Rule 37/37A is considered for the year it is reclaimed. Late fees under Section 47(2) are auto- calculated in Table 17 of GSTR-9C. Special cases for imported goods and concessional tax rates are clarified, along with the use of downloadable Excel sheets for detailed invoice/HSN reporting.
(Link: GSTN Advisory Dated 16/10/2025, FAQs)
GSTN, Advisory Introduction of “Pending” Option for Credit Notes and declaration of Reversal amount in IMS: A new facility in the Invoice Management System (IMS) has been recently introduced on the GST portal wherein the taxpayers are allowed to keep credit notes as “Pending” for one tax period. Further, the IMS functionality have also been enhanced providing a flexibility to the taxpayers to modify their ITC reversal on acceptance of such credit notes thereby resolving many business disputes.
(Link: GSTN Advisory Dated 17/10/2025, FAQs)
AAAR, TR-6 Challans not eligible for import IGST Credit: Case of Becton Dickinson India Private Limited, AAAR Tamil Nadu Ruling Dated 8th October 2025. AAR had earlier ruled that Neither a TR-6 challan as such, nor a TR-6 challan read with the SVB order and letters issued by the tax authorities, can be considered as an eligible document for the purpose of availment of ITC. The appellant authority upheld the ruling and dismissed the appeal.
AAR, Hostel & Food Services between Charitable Educational Institutions taxable under GST: Case of KLN Saurashtra College of Engineering Council, AAR Tamil Nadu Ruling Dated 25th September 2025. AAR ruled that accommodation and food services provided by one charitable educational institution to another are taxable under GST. Exemption under notification No. 12/2017 applies only if specific conditions under serial number 12A are met.
AAR, Rice Bran Oil classified by content, not ‘Lamp Oil’ use: Case of KTV Health Food Pvt Ltd, AAR Tamil Nadu Ruling Dated 24th September 2025. AAR ruled that the rice bran oil sold by KTV Health Food Pvt Ltd. was classifiable under Tariff Heading 1515 90 40, attracting a 5% GST. The ruling established a precedent that the classification for GST purposes should be based on the essential character of the goods, rather than how they are branded or the end-use by the consumer.
AAR, MGO Charges are not taxable, No GST on Liquidated Damages for Short Lifting of Gas: Case of ONGC, AAR Tamil Nadu Ruling Dated 24th September 2025. AAR ruled that Minimum Guaranteed Off-take (MGO) charges are in the nature of Liquidated Damages, and are not liable to GST.
SC, Tax on ink and processing material used in printing lottery tickets leviable under Uttar Pradesh Trade Tax Act: Case of Aristo Printers Pvt Ltd vs Commissioner of Trade Tax, SC Judgement Dated 7th October 2025. The apex court upheld the levy of trade tax on ink and processing materials used in printing lottery tickets. It held that ink and processing materials used in printing lottery tickets form part of the goods transferred in the execution of a works contract under Uttar Pradesh Trade Tax Act.
SC, ITC cannot be denied for non-payment of VAT by Seller: Case of Commissioner Trade and Tax Delhi vs Shanti Kiran India (P) Ltd, SC Judgement Dated 9th October 2025. The apex court ruled that ITC cannot be denied to bona fide purchasers when sellers fail to deposit VAT. It upheld Delhi HC view protecting good faith taxpayers, and that ITC cannot be denied to genuine buyers in absence of evidence of collusion.
HC rationalizes Pre-Deposit for overlapping fictitious ITC appeals: Case of RU Overseas vs DGGST, HC Delhi Judgement Dated 16th September 2025. The core issue revolved around the overlap of demands concerning fictitious suppliers. HC acknowledged the possibility of overlap but ruled that the challenge to the substantive demands must be addressed in the respective appeals. However, recognizing the procedural complexity and the potential for double demand, the Court provided relief by rationalizing the pre-deposit requirement for the appeals.
HC upholds Notice Service Via GST Portal even if Email Bounces: Case of Seven Seas Lights Pvt Ltd vs Assistant Commissioner, HC Delhi Judgement Dated 23rd September 2025. HC ruling reinforces the principle that uploading documents to the common GST portal constitutes effective, legally-valid service. This places a mandatory and ongoing burden on the registered taxpayer to monitor the portal for all official communications, regardless of email failures or internal administrative changes.
C. Central Excise
No Notification/ Circular during the Week.
D. Custom Duty
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver: CBDT notified the Tariff Values of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver, which shall come into force w.e.f. 16th October 2025. The tariff value for crude palm oil is set at USD 1123 per metric ton, while gold and silver have tariff values of USD 1327 per 10 grams and USD 1663 per kilogram, respectively. The tariff value for areca nuts is fixed at USD 7142 per metric ton.
(Link: Customs Notification 65/2025 (NT) Dated 15/10/2025)
Issuance of Look Out Circulars (LOC): The CBIC has provided that all Look Out Circulars (LOCs) will now be processed exclusively through the Online LOC Portal, operational since 1st March 2024. The earlier procedure allowed LOC requests to be submitted via letters or emails through DRI or DGGI headquarters. The online system aims to streamline and centralize the process for issuing LOCs concerning Indian citizens and foreign nationals.
(Link: Customs Instructions 30/2025 Dated 13/10/2025)
E. Directorate General of Foreign Trade (DGFT)
Amendment to Import Policy ITC (HS) to Sync with Finance Act: The notification amends the ITC (HS), Schedule-I (Import Policy) to synchronize it with the changes introduced by the Finance Act 2025. The changes include the insertion, deletion, alteration, splitting, and merging of various ITC Codes and their corresponding Policy Conditions, as listed in Annexure-I. It also amends Section Notes, Chapter wise Main Notes, Supplementary Notes, Chapter headings, sub-headings, and descriptions of the ITC codes, which are detailed in Annexure-II.
(DGFT Notification 44/2025 Dated 15/10/2025)
Amendment to Areca Nut Import Policy with Minimum Price: The Directorate General of Foreign Trade (DGFT) issued a notification on October 15, 2025, amending the import policy for Areca Nuts and Roasted Areca Nuts. For raw Areca Nuts, the policy remains Prohibited, but import is now free if the Cost, Insurance, and Freight (CIF) value is Rs. 351/- or more per Kilogram. Similarly, for Roasted Areca Nuts, the policy is generally Free, but import is Prohibited if the CIF value is less than Rs. 351/- per Kilogram. This new Minimum Import Price (MIP) condition aims to restrict the import of lower-value Areca Nuts.
(DGFT Notification 43/2025 Dated 15/10/2025)
Amendment to Export Policy for Meat Products: The notification has prescribed a new Export Policy Condition-9 under Chapter-2, Schedule-II (Export Policy). The exports of chilled and frozen meat will now be permitted only upon submission of proof of remittance to the Meat Export Development Fund (MEDF), which is managed by the Agricultural and Processed Food Products Export Development Authority (APEDA). The new condition applies specifically to products under the specified ITC (HS) codes.
(DGFT Notification 42/2025 Dated 14/10/2025)
Renumbering of Paras in Procedures for Diamond Imprest Scheme: The provisions relating to Diamond Imprest Authorisation (DIA) notified vide Public Notice No. 42/2024-25 dated 21st January 2025 have been renumbered. The DIA scheme, allows the import of goods subject to a pre-import condition and mandates that all imports and exports must be channelled exclusively through Mumbai Airport. The key conditions of the DIA require the export obligation to be fulfilled solely through the physical export of Natural Cut and Polished Diamonds, with each weighing no more than of a Carat (25 Cents), and necessitating a minimum value addition of realized in freely convertible currency. The validity for import is 12 months, and the export obligation must be met within 18 months from date of authorization, with no extension or revalidation allowed.
(DGFT Public Notice 26/2025 Dated 15/10/2025)
F. Securities and Exchange Board of India (SEBI)
Minimum information to be provided to the Audit Committee and Shareholders for approval of Related Party Transactions: The circular modifies the requirements for listed entities regarding the minimum information to be provided to the Audit Committee and shareholders for the approval of Related Party Transactions (RPTs). The key change introduces a tiered disclosure standard based on the transaction value. Listed entities must follow the comprehensive RPT Industry Standards for RPTs exceeding a certain threshold, i.e. of the annual consolidated turnover or Rs Ten Crore, whichever is lower. For RPTs at or below this limit, a simpler set of disclosures, as specified in Annexure-13A, is now permitted for both the Audit Committee review and the shareholder approval notice. RPTs that do not exceed Rs One Crore continue to be exempt from these specific requirements.
(Link: SEBI Circular Dated 13/10/2025)
Relaxation in timeline for disclosure of allocation methodology by Angel Funds: The Angel Funds were initially mandated to disclose a defined methodology for allocating investments among approving angel investors in their Private Placement Memorandums (PPMs) by 15th October 2025. SEBI has decided to extend this deadline for compliance to 31st January 2026. Thus, any investment allocated by existing Angel Funds after the new date, must adhere to the allocation methodology detailed in their PPMs.
(Link: SEBI Circular Dated 15/10/2025)
Master Circular on Non-convertible Securities Listing: The Master Circular consolidate various instructions and directions concerning the issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities, and Commercial Paper. Though the previous circulars have been rescinded, any actions taken, rights accrued, or liabilities incurred under those prior circulars remain valid and enforceable under the corresponding provisions of the new Master Circular.
(Link: SEBI Master Circular Dated 15/10/2025)
Consultation Paper on changes to ease Transfer of Physical Shares: Transfers in physical form were discontinued from April 2019, and a special re-lodgement window (July 2025–January 2026) was opened for investors who missed the original deadline. It is proposed to create an exception in LODR Regulation 40(1) with a sunset clause, allowing such investors to re-lodge securities for transfer and subsequent dematerialization. It also proposes removing the Letter of Confirmation (LOC) process in Regulation 39(2), which currently requires investors to submit LOCs to depositories for dematerialization, creating unnecessary delays and duplication of efforts. Guidelines on identity, signature, and document verification, as well as measures for disputes, lock-in periods, and public notification of transfers, are included in the proposal to safeguard investor rights. The suggestions/ comments from stakeholders are invited.
(Link: SEBI Consultation Paper Dated 17/10/2025)
G. Ministry of Corporate Affairs (MCA)
DIR-3-KYC filing deadline extended to 31st October 2025: MCA has extended the deadline for the filing of the e-form DIR-3-KYC and web-form DIR-3- KYC-WEB without any prescribed filing fee up to 31st October 2025.
(Link: MCA General Circular 05/2025 Dated 15/10/2025)
MCA allows companies to File Annual Returns without extra fees till 31st December, 2025: MCA has granted relaxation from additional fees and an extension of time for the filing of financial statements and annual returns under the Companies Act, 2013. The relaxation follows the recent deployment of revised e-Forms i.e. MGT-7, MGT-7A, AOC-4, AOC-4 CFS, AOC-4 NBFC (Ind AS), AOC-4 CFS NBFC (Ind AS), and AOC-4 (XBRL), on the MCA-21 Version 3 portal. Recognizing the need for companies to familiarize themselves with the new filing process and acknowledging numerous requests from stakeholders, the MCA has allowed companies to complete their annual filings for the financial year 2024–25 without paying any additional fees up to 31st December 2025. However, it is clarified that it does not extend the statutory due date for conducting Annual General Meetings (AGMs) under the Companies Act.
(Link: MCA General Circular 06/2025 Dated 17/10/2025)
H. Insolvency and Bankruptcy Board of India (IBBI)
Amendments to IBBI Liquidation Process Regulations: The notification primarily restructures regulatory clauses related to the modes of asset sale and committee composition. The key changes include the omission of clause (f) in regulation 31A(1), which pertains to the constitution of the Stakeholders’ Consultation Committee. Also, in regulation 32, which deals with various modes of sale during liquidation, specific revisions have been made, such as the insertion of the word “or” after clause (c), substitution of punctuation in clause (d), and the omission of clauses (e) and (f). Also, regulation 32A, which previously governed the sale of the corporate debtor or its business as a going concern, has been omitted entirely.
(Link: IBBI Notification Dated 14/10/2025)
Amendments to IBBI Insolvency Resolution Process for Corporate Persons Regulations: The key changes involve the omission of Regulation 39C from the principal regulations. Further, changes are made to Regulation 39D, specifically omitting clause (b) and inserting the word “and” in clause (a). It also amends Form H, the compliance certificate to be filed by resolution professional, by omitting point (b) in paragraph 15.
(Link: IBBI Notification Dated 14/10/2025)
HC Upheld Clean Slate Doctrine for Resolution Applicants under IBC: Case of NTPC Ltd vs Directorate of Enforcement, HC Delhi Judgement Dated 17th October 2025. High Court clarified that NTPC, as a successful Resolution Applicant, enjoys immunity under Section 32A IBC. Criminal proceedings against the corporate debtor cannot be extended to the new management, reinforcing finality in insolvency resolutions.
NCLAT, ESI dues in Trust not part of Liquidation Estate: Case of Regional Director vs Manish Kumar, NCLAT Delhi Judgement Dated 24th September 2025. The Liquidator had treated the ESI claim of as that of an operational (unsecured) creditor and allotted a proportionate amount for disbursement according to the priority of payments under IBC. NCLT also considered that ESI dues are not explicitly defined as workmen dues under IBC, and there is no provision it a charge or special status over other operational creditors.
— The ESI argued that Section 36(4)(a)(i) of the IBC stipulates that any assets held by the Corporate Debtor (CD) in trust for any third party do not form part of the liquidation estate. The ESI contributions, which include amounts deducted from employees’ wages and the employer share, are held by the CD in trust by virtue of Section 40(4) of the ESI Act. NCLAT allowed the appeal, setting aside the NCLT’s order and effectively ruling that the ESI amount does not belong to the liquidation estate and must be kept out of the general pool of assets available to creditors.
NCLAT clarifies threshold for IBC section 7 claims & Limits on penalty: Case of Tanay Securities & Services Pvt Ltd vs Mittal Soya Protein Pvt Ltd, NCLAT Delhi Judgement Dated 24th September 2025. The appellate tribunal held that small disputed amounts below Rs 1.00 crore do not justify Section 7 proceedings or penalties under Section 65 when debt is substantially repaid.
NCLAT, Debt acknowledgment extends Limitation: Case of Ramniwas B Somany vs Anushri Paper Pack Pvt Ltd, NCLAT Delhi Judgement Dated 17th September 2025. The appellate tribunal noted acknowledgment of debt in the Corporate Debtor books, including the Rs. 40,000 cheque cleared on 20th May 2016. It ruled that a part payment made by the corporate debtor to the operational creditor against the total debt constitutes an acknowledgment of debt under the Limitation Act, thereby extending the limitation period for filing an insolvency application under IBC. NCLAT held that the Section 9 application was filed in time.
NCLAT, Remote ERP access not to be denied to director without evidence of misuse: Case of Arya iron and Steel Co Pvt Ltd vs Ravikumar Arya, NCLAT Delhi Judgement Dated 22nd September 2025. The appellate tribunal upheld a direction granting Enterprise Resource Planning (ERP) access to a minority shareholder and director group of an iron and steel company, despite allegations that the minority shareholder had links with a rival company, unless there is tangible evidence of misuse of company information by such directors.
RTI Appeal Seeking CoC Voting Records in CIRP Case is rejected: The First Appellate Authority (FAA) upheld the initial denial by the Central Public Information Officer (CPIO), who stated the information was not available with the Board. It further ruled that even if the information were held by the IBBI, the minutes and records of the CoC voting are protected from disclosure under Section 8(1)(d) of the RTI Act. It noted that the RP is only mandated to share the minutes with members of the CoC.
(Link: IBBI FAA Order Dated 13/10/2025)
I. Reserve Bank of India (RBI)
RBI allows exporters to hold Foreign Currency Accounts in IFSCs: The notification amends FEMA Foreign Currency Accounts by a person resident in India Regulations. Under the revised Regulation 5(CA), Indian exporters are now permitted to open, hold, and maintain foreign currency accounts with banks located outside India for receiving full export value or advance payments for goods and services. It clarifies utilisation and repatriation timelines for funds held in such accounts. For accounts maintained in banks located within IFSCs, exporters may retain funds for up to three months from the date of receipt. For accounts in all other jurisdictions, repatriation must occur within the next month after receipt. An explanatory clause confirms that foreign currency accounts permitted “outside India or abroad” can also be opened in IFSCs, thereby granting parity between offshore and IFSC-based accounts.
(Link: RBI FEMA Notification Dated 06/10/2025)
RBI amends FEMA Regulations for INR Lending to Bhutan, Nepal, Sri Lanka: The notification amends FEMA Borrowing and Lending Regulations. The key change permits an Authorised Dealer (AD) Category-I bank in India to lend in Indian Rupees (INR) to a person resident outside India, provided that the recipient is a resident of Bhutan, Nepal, or Sri Lanka. This lending facility, which also includes banks in these three specific jurisdictions, is strictly intended for cross-border trade transactions, to facilitate trade with these neighbouring countries.
(Link: RBI FEMA Notification Dated 06/10/2025)
J. Miscellaneous
Central Govt Dearness Allowance and Dearness Relief hiked to 58% from July 2025: The Ministry of Finance, has announced the revision of the Dearness Allowance (DA) rate for Central Government employees. The new rate is enhanced from 55% to 58% of the Basic Pay, and this change is effective from 1st July 2025. The Department of Pension & Pensioners Welfare, has also revised the Dearness Relief (DR) rate from the existing 55% to 58% of the basic pension or family pension.
(Link: Fin Min OM Dated 06/10/2025, Deptt of Pension OM Dated 08/10/2025)
EPFO Launches Revamped ECR System to streamline PF Filing and Compliance: EPFO has implemented a revamped Electronic Challan-cum- Return (ECR) system, effective from the September 2025 wage month, designed to streamline the return filing process for employers via the EPFO portal. It has issued Frequently Asked Questions (FAQs) to guide employers and implementation of the Revamped ECR system. The redesigned ECR aims to enhance compliance and accuracy by fundamentally changing the workflow, employers must first submit and approve the return and only then generate the challan for payment. It has also extended the deadline for filing the September ECR to 22nd October 2025.
— The key features include robust system-based validations that check for incorrect wages, ineligible pension contributions (like those for certain International Workers or employees over 58), and UAN details, thereby rejecting erroneous submissions upfront. Further, the system automatically computes interest (Section 7Q) and damages (Section 14B) for delayed payments, reflecting these charges directly in the Due Deposit Balance Summary. The new system also formalizes three return types i.e. Regular, Supplementary (for missed employees), and Revised (for corrections), with specific rules governing upward or downward revisions, particularly concerning whether payment has already been made.
(Link: EPFO Circular Dated 26/09/2025, EPFO Circular Dated 08/10/2025)
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Compiled by:- CMA Yash Paul Bhola, MBA, FCMA. Former Director (Finance), National Fertilizers Limited.
Disclaimer: The contents of this article are for informational purposes only. The user may refer to the relevant notification/ circular/ decisions issued by the respective authorities for specific interpretation and compliances related to a particular subject matter)
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