Reporting requirements oblige each TechFin and Ancillary Service Provider to furnish the Authority with information concerning its operations in the manner, at the intervals and in the form specified by the Authority. Financial reporting to the Authority must be made in US Dollar unless the Authority specifies otherwise. Authority-determined parameters govern the reporting process and any departure from the prescribed currency for financial reports.

TechFin and Ancillary Service Providers must conduct operations in any Specified Foreign Currency and maintain their balance sheets in any Specified Foreign Currency. They may additionally open an INR account to defray administrative and statutory expenses and for other purposes permitted under applicable laws.

TechFin and Ancillary Service Providers may serve only non-resident intermediaries and service recipients from jurisdictions not identified as high-risk jurisdictions subject to a call for action. Residents may receive services solely to establish an office in an International Financial Services Centre or overseas.

TechFin and Ancillary Service Providers must appoint or designate a principal officer responsible for overall activities and a compliance officer responsible for compliance, record maintenance, implementation of applicable requirements, and organisational reporting. Principal officer appointment is optional, subject to approval, where services are exclusively provided to Group Entities in the IFSC. Both officers must be full-time employees and based in the IFSC.

TechFin and Ancillary Service Providers must abide by the Code of Conduct specified in the Fourth Schedule. Compliance with that Schedule is a mandatory condition governing the conduct of every TechFin and Ancillary Service Provider. The Fourth Schedule identifies the conduct standards with which providers are required to comply under the TechFin and Ancillary Services framework.

Fit and proper requirements mandate that a TechFin and Ancillary Services Provider, its principal officer, compliance officer, directors, partners, designated partners and controlling shareholders remain fit and proper at all times. Eligibility requires a record of fairness and integrity, including financial integrity, good reputation and character, and honesty. A person declared not fit and proper by a regulatory authority cannot apply for registration until the fit and proper requirements are satisfied.

Registration as a TechFin and Ancillary Services Provider requires an application through SWIT with prescribed documents and fees. Deficiencies must be communicated and may be rectified within thirty days before rejection, subject to a reasonable opportunity for written submissions. In-principle approval may carry conditions, which must be fulfilled within one hundred eighty days unless extended. Registration may then be granted conditionally and remains valid unless suspended, cancelled, or accepted for voluntary surrender. Material changes affecting registration must be immediately disclosed.

Applicants must have an eligible legal form, including a company or limited liability partnership incorporated in the IFSC, a branch of an entity incorporated outside the IFSC, or another form permitted by the Authority. Registered partnership firms are eligible where all partners belong to a professional body or institute constituted under an Act of Parliament. Promoters and partners must not be from jurisdictions identified as high-risk jurisdictions subject to a call for action.

Entities proposing to provide TechFin or Ancillary Services in an IFSC must obtain a certificate of registration before commencing operations. Existing authorised ancillary service providers and TechFin entities must transition to registration within the prescribed period, subject to a limited extension granted by the Chairperson for recorded reasons. They remain governed by their existing regulatory frameworks until registration is granted. Registration may be issued upon a compliance declaration and the Authority's satisfaction that applicable requirements are met.

TechFin Services and Ancillary Services directly or indirectly facilitate arrangements for specified financial services. Registered providers may deliver scheduled services directly or indirectly, but cannot undertake Third Schedule services. Intermediary arrangements require direct delivery to the Service Recipient without intervening layers, a demonstrable and traceable service flow, and a link between both service legs and the recipient's financial-services activity. Group Entities include parent-subsidiary, joint-venture, associate, common-brand, significant investment, and network relationships.

Regulatory framework for TechFins and Ancillary Services Providers is established to facilitate arrangements for carrying on any financial services specified under the International Financial Services Centres Authority Act, 2019. Its scope extends to the financial services listed in sub-clauses (i) to (xi) of clause (e) of section 3(1), identifying services for which arrangements may be made for carrying on such services.

International Financial Services Centres Authority (TechFin and Ancillary Services) Regulations, 2025 are made under statutory powers conferred on the Authority. Regulation 1 gives the regulations their formal short title and makes their commencement contingent on publication in the Official Gazette. Their legal operation begins on the date of such publication.

PowerTel's critical information infrastructure, including specified network, security, authentication, directory, domain name and anti-DDoS resources and associated dependencies, is declared protected systems under Section 70 of the Information Technology Act, 2000. Access requires written authorisation by PowerTel and may be granted to designated employees, need-based managed service provider or vendor personnel, and consultants, regulators, government officials, auditors and stakeholders on a case-by-case basis.

Electronic filing of PGIRP-1 to PGIRP-6 for monitoring insolvency resolution processes involving personal guarantors to corporate debtors remains subject to an extended compliance timeline. The deadline for submission of all applicable forms is extended until 31 December 2026. Penalties for delayed submission or modification will be levied only after that date.

Section 270A imposes penalties for under-reporting or misreporting of income, but excludes under-reported income determined on an estimate where the Assessing Officer accepts the accounts as correct and complete. An interest-expenditure disallowance made on an estimated basis therefore cannot sustain a penalty under Section 270A when that exclusion applies. Penalty founded solely on such estimated disallowance is liable to be deleted.

Dynamic QR Code requirements apply to eligible business-to-consumer tax invoices issued by registered persons meeting the prescribed aggregate turnover threshold, subject to specified service, OIDAR, and export exclusions. The code must contain supplier, invoice, payment, value, and tax details and enable digital payment. Compliance is deemed where an invoice contains the code or appropriate payment cross-references for electronic or cash payments. For payments made after invoice issuance, the supplier must provide the Dynamic QR Code on the invoice. Each supplier remains responsible for compliance for supplies made through e-commerce platforms.

Each liquidation form due on or before 30 September 2026 and filed after its due date must be accompanied by a fee of Rs. 500 per month of delay, together with applicable GST. The requirement applies to delayed filings made through correction, updation, or any other post-due-date submission under Regulation 47B of the Liquidation Process Regulations.

Internet-charge reimbursement received by a freelancer is included in the taxable value of services where the internet connection is registered in the freelancer's own name. Recovery at actual cost does not itself establish pure-agent status. Rule 33 requires authorised third-party payment, separate invoice disclosure, procurement in addition to the supplier's own services, absence of personal use or title, and recovery only of actual expenditure. Where the underlying freelancing service qualifies as an export under a letter of undertaking, zero-rated treatment may apply; otherwise, the reimbursement remains taxable service value.

Income-tax treatment is queried for gifts from children to parents where gifted funds are invested in fixed deposits and ULIP policies. Questions include disclosure of gift receipts in ITR-1 or ITR-2, the relevant reporting schedule, supporting documents, clubbing provisions for fixed-deposit interest, and any upper limit for gifts to close or specified relatives.

Service exports of accounting services to foreign clients do not require an IEC merely for rendering or exporting services. An IEC may facilitate claims for FTP benefits, including SEIS benefits and duty credit scrips; following the amended FTP position, it is required when claiming such benefits rather than at the time of export. EDF filing is compulsory effective 1 October 2026, with SOFTEX merged into EDF from that date.