Fema / RBI : RBI has launched the Integrated Ombudsman Scheme, 2026, providing a centralized, cost-free mechanism for resolving complaints agai...
Fema / RBI : RBI has updated the FLA Return FAQs, clarifying who must file, the 15 July deadline, revision procedures, and reporting requiremen...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
Company Law : The document clarifies that a director's resignation becomes effective upon receipt by the company or the specified future date, w...
Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...
Corporate Law : MoSPI will introduce the Index of Services Production (ISP) to measure short-term changes in the formal services sector. The month...
Finance : The FAQs clarify the implementation of the IFSCA AML/CFT/KYC Guidelines, covering customer due diligence, reporting obligations, g...
Finance : The IFSCAs updated framework supersedes previous sandbox regulations and establishes a unified regime for FinTech testing in IFSCs...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Fema / RBI : RBI has clarified reporting requirements, valuation methods, submission procedures, and entity obligations under the Portfolio Inv...
SEBI : NSE released detailed FAQs to address practical issues in submitting Quarterly Integrated Filing – Governance reports through XB...
Finance : The circular addresses uncertainty in FLA reporting FAQs under FEMA. It directs institutions to pause action until regulatory clar...
Corporate Law : FSSAI introduced perpetual licenses and simplified registration norms to ease compliance. The reforms reduce costs while maintaini...
SEBI : FPIs can now apply for Digital Signature Certificates directly within the CAF portal. The move simplifies onboarding and reduces p...
Goods and Services Tax : GSTN has clarified key issues on filing annual returns through consolidated FAQs. The guidance explains ITC reporting, auto-popula...
The issue involved mandatory reporting obligations for film and specified activities under the new tax regime. The framework requires disclosure of payments exceeding ₹50,000 along with TDS details. The key takeaway is that enhanced transparency and structured reporting are central to compliance.
Form 163 requires Indian concerns to report indirect transfers of assets in India involving non-residents. The key takeaway is that this is a compulsory compliance obligation even though no tax is payable. Timely filing ensures avoidance of penalties.
Non-resident entities must file Form 162 annually to report liaison office activities. Failure can result in penalties and regulatory action.
Taxpayers who accept assessment orders and choose not to appeal can apply for immunity using Form 161. The key takeaway is that opting out of litigation is essential to claim relief. This promotes faster dispute resolution and certainty.
This explains when a deductor can claim a refund using Form 160 where tax was wrongly deducted. The key takeaway is that refund is granted only after proving that no TDS was legally required.
The tax authority issues Form 159 only after verifying compliance through Form 158. Without this certificate, specified individuals cannot leave India.
Individuals directed by tax authorities must file Form 158 before leaving India. The rule ensures tax compliance, failing which departure may be restricted.
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 156 must be filed by Indian-domiciled persons with PAN when leaving India. The key takeaway is that it is a compulsory compliance requirement linked to travel abroad.
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.
