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 case explains mandatory filing of quarterly TDS statements for non-salary payments to non-residents. The rules require timely electronic submission to ensure accurate tax credit and avoid penalties. The key takeaway is strict compliance with deadlines and reporting requirements.
Form 143 under the Income-tax Act, 2025 is a mandatory quarterly statement filed by collectors to report tax collected at source (TCS) on specified transactions such as sale of goods, scrap, liquor, tendu leaves, foreign remittances, and tour packages. Replacing the earlier Form 27EQ, it must be filed electronically within prescribed quarterly due dates. The […]
Exchanges must deposit complete tax before filing the statement. Partial payment renders filing invalid. The takeaway is complete tax compliance is a prerequisite.
Form 141 consolidates earlier challan-cum-statements into a single form for various TDS transactions. It simplifies reporting and payment while ensuring accurate compliance. The key takeaway is streamlined filing with schedule-based reporting.
Form 140 replaces Form 26Q and mandates quarterly reporting of TDS on non-salary payments. Timely filing ensures proper tax credit and avoids penalties for non-compliance.
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.
Employers must file Form 138 quarterly for salary TDS reporting. Timely filing ensures accurate tax credit to employees and avoids penalties.
The issue concerns non-filing of Form 137 by government offices. The law mandates timely filing to avoid penalties. The key takeaway is strict compliance with reporting obligations.
Form 136 applies only to government offices making TDS/TCS payments through book adjustment. This ensures targeted compliance and avoids unnecessary registration.
Forms 134 and 135 introduce a revised system for TAN allotment under the Income-tax Act, 2025. The bifurcation ensures category-specific compliance and simplifies the application process.
