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News
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April 4, 2026
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Digital audit report requirements govern electoral trusts claiming exclusion of voluntary contributions from total income.
FN 181 is a mandatory digital audit report for an electoral trust seeking exclusion of reported voluntary contributions from total income. It must be prepared by an accountant, filed electronically with the Commissioner of Income Tax (CPC) through the e-filing portal, and submitted on or before the due date for filing the return of income. The form cannot be filed offline or edited after submission, and a valid PAN is mandatory for filing.
April 4, 2026
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Employee welfare fund approval under income tax rules depends on notified purposes, verified disclosure, and hearing before rejection.
Form 180 is the electronic application for approval or renewal of an employee welfare fund established for notified purposes under section 11(3) read with Schedule VII, to be filed by the trust or fund before the jurisdictional PCIT/CIT and verified by the trustee or principal officer. The form requires details of the trust or fund, employer organisation, objects, trustees, employee membership, contributions, income, application or accumulation of funds, along with the trust deed, activity notes and accounts. Approval is granted only if the prescribed conditions are satisfied, for a period not exceeding three tax years, and rejection requires recorded reasons and an opportunity of hearing.
April 4, 2026
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Employee Welfare Fund approval through Form 180 requires online filing, valid PAN, and strict trust-based eligibility conditions.
Form 180 is the prescribed electronic application for an Employee Welfare Fund seeking approval or renewal from the jurisdictional Principal CIT/CIT. The fund must be a trust for notified welfare purposes for serving employees or their dependents, and the application must be verified by the trustee or principal officer. Filing is mandatory for approval, which confers pass-through treatment and tax exemption subject to conditions. The form can be filed only online, cannot be edited after submission, and requires a valid PAN and supporting documents.
April 4, 2026
Show AI Summary
Business connection in India compliance through Form 173 for eligible investment funds and annual verification of eligibility conditions.
Form 173 is a statement furnished by an eligible investment fund to verify compliance with the conditions for claiming that its activities do not constitute a business connection in India. The form is filed once in a tax year within 90 days from the end of the tax year, and it contains particulars on residence, tax identification number, Schedule I compliance, participation interests in India, fund manager remuneration, and investment profits. Supporting documents may include approval orders, registrations, financial statements, and remuneration contracts.
April 4, 2026
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Eligible investment fund reporting under no-business-connection rules requires mandatory online Form 173 filing and digital signature compliance.
Form 173 is the mandatory statement for an eligible investment fund to establish that its activities do not create a business connection in India. It must be filed once in a tax year, within 90 days from the end of the tax year, by the fund manager or designated person, only through the Income Tax e-filing portal, and it cannot be edited after submission. The form requires supporting fund details, registrations, financial statements, and digital signature compliance, and a valid PAN is mandatory.
April 4, 2026
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Eligible investment fund reporting under Form 172 requires accountant certification, electronic filing, and compliance with prescribed conditions.
Form 172 is the accountant's report for an eligible investment fund to establish fulfilment of prescribed conditions relevant to section 9(12) and the claim that the fund's activities do not create a business connection in India. It is prescribed under Rule 274(7), filed once in each tax year by the appointed accountant, and due by 31 October of the succeeding tax year. The form is filed electronically with a UDIN and digital signature, and non-filing may attract penalty under section 447.
April 4, 2026
Show AI Summary
Business connection in India reporting through Form 172 requires mandatory electronic filing, UDIN generation, and supporting documentation.
Form 172 is the mandatory accountant's report for an eligible investment fund to show compliance with conditions for claiming no business connection in India. It is filed once in a tax year by the appointed accountant through the Income Tax e-filing portal, after UDIN generation and digital signature. The form requires a valid PAN, cannot be edited after submission, and may need supporting documents such as fund manager details, SEBI registrations, financial statements, and contracts relating to the fund manager's activities and remuneration.
April 3, 2026
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Authorised Income Tax Practitioner registration under Form 171 depends on eligibility, supporting documents, and authority verification.
Form 171 is the one-time application for registration as an authorised Income Tax Practitioner under the specified eligibility categories in section 515(3) of the Income Tax Act, 2025. Eligible applicants include accountants, persons who have passed a recognised accountancy examination, and other qualified persons recognised by the Central Board of Direct Taxes. The form requires applicant details, the claimed eligibility category, qualifications, prior tax appearances, and supporting documents, and is filed with the jurisdictional Income Tax Authority for verification and registration.
April 3, 2026
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Authorised Income-tax Practitioner registration through Form 171 requires eligibility details, supporting documents, and one-time filing.
Form 171 is the prescribed application for registration as an Authorised Income-tax Practitioner under section 515 of the Income-tax Act 2025 and must be filed with the jurisdictional Chief Commissioner or Commissioner of Income-tax. The application is mandatory for recognition in that capacity, may be filed after eligibility arises, and is a one-time filing unless otherwise directed. It requires applicant particulars, eligibility details, qualifications, supporting documents, and relevant firm or association details. On approval, the applicant's name is entered in the Register of Income-tax Practitioners and a Certificate of Registration is issued.
April 3, 2026
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Annual Information Statement consolidates tax credits, payments, transactions, and proceedings in a taxpayer's e-filing account.
Form 168 operates as an auto-generated Annual Information Statement linked to a taxpayer's PAN and available in the e-filing account. It consolidates TDS, TCS, tax payments, specified financial transactions, demand and refund details, and pending or completed proceedings, together with any other prescribed information. The taxpayer does not file the form manually. It is updated dynamically during the year as underlying reports and payments are processed, and it uses Tax Year instead of Financial Year.
April 3, 2026
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Annual Information Statement and taxpayer summary streamline income reporting through detailed verification, feedback correction, and consolidated return filing.
Annual Information Statement (AIS) is the detailed financial statement linked to PAN, and Taxpayer Information Summary (TIS) is its consolidated version showing category-wise totals for use in return filing. AIS contains transaction-level data, while TIS provides summarized figures such as salary, rental income, interest, capital gains, dividend, business income and taxes paid. Taxpayers should verify AIS, use the feedback mechanism for incorrect or unrelated entries, and rely on the updated TIS; actual income must still be reported in the return even if missing from AIS.
April 3, 2026
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GST appeal filing blocked by NIL demand entries despite unpaid dispute over liability and prior voluntary payment.
Taxpayers may face portal restrictions when an adjudication order reflects a NIL demand because payment was made at the show cause notice stage without admitting liability. Although such payment does not amount to acceptance of the demand, the GST portal may block filing of appeal application APL-01 when no liability is captured in the Demand and Collection Register. The taxpayer may seek rectification of the order so that the correct demand amount is reflected and the appeal can then be filed within the prescribed time.
April 3, 2026
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Annual reporting for film production and specified activities under the income-tax framework now requires structured disclosure and TDS linkage.
Form 164 requires persons engaged in cinematograph film production or notified specified activities to furnish an annual statement for each tax year under section 507 of the Income-tax Act, 2025, read with Rule 236. The statement is due within 60 days from the end of the tax year and covers filer particulars, film or activity details, and payment and TDS information, including aggregate payments above the prescribed threshold linked to the relevant film or activity. The revised format uses three parts and standardised digital reporting.
April 3, 2026
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Mandatory annual statement for film production and specified activities covers incomplete projects, threshold payments, TAN, and electronic filing status.
A mandatory annual statement is required under section 507 of the Income-tax Act, 2025 for persons engaged in cinematograph film production or specified activities such as event management, sports events, documentary production, OTT or TV programme production, performing arts, or similar notified activities. The filing obligation applies to every individual, partnership firm, LLP, company or other entity that produced a film or undertook a specified activity during the relevant tax year, including cases where the film or activity was not completed in that year. The statement must be filed within 60 days from the end of the tax year, and TAN is required where the filer is liable to deduct tax at source.
April 3, 2026
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Personal loan flexibility expands as longer repayment tenure, collateral-free borrowing, and faster disbursal aim to ease EMI burden.
Bajaj Finance has revised its personal loan offering by extending the repayment tenure up to 108 months, replacing the earlier 96-month structure. The longer tenure is intended to reduce monthly EMI burden and give borrowers greater flexibility in managing repayments, while shorter tenures remain available within a range of 12 months to 108 months depending on customer preference. The personal loan product is described as collateral-free and designed for planned and urgent expenses, with loan amounts ranging from Rs. 40,000 to Rs. 55 lakh.
April 3, 2026
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Indirect transfer reporting under Form 163 requires timely electronic disclosure of share transfers affecting Indian assets and control rights.
Form 163 is the reporting statement for indirect transfers of assets located in India under section 506 of the Income-tax Act, 2025 and Rule 235 of the Income-tax Rules, 2026. It is to be furnished by an Indian concern, or its representative, where a non-resident transfers shares or interests in a foreign company or entity in a manner affecting assets, rights, management or control in relation to the Indian concern. The form is filed electronically within the prescribed timelines and supports computation of income reported in Form 4.
April 3, 2026
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Foreign exchange reserves decline as rupee pressure, RBI dollar sales, and lower gold and currency assets shape weekly movement.
India's foreign exchange reserves declined to USD 688.058 billion for the week ended March 27, driven by lower foreign currency assets and gold reserves. The Reserve Bank of India continued to intervene in the foreign exchange market through dollar sales and related policy measures as the rupee remained under pressure, while Special Drawing Rights rose slightly and the IMF reserve position edged down.
April 3, 2026
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Indirect transfer reporting in Form No. 163 requires timely electronic filing, supporting documents, and a valid PAN.
Reporting of indirect transfers of assets located in India requires an Indian concern, or its representative, to furnish information in Form No. 163 under section 506 of the Income Tax Act, 2025. The form is mandatory and applies where a non-resident transfers shares of, or interest in, an offshore company or entity resulting in an indirect transfer of assets in India. It must be furnished within ninety days from the end of the financial year, or within ninety days of the transaction where management or control rights in relation to the Indian concern are transferred.
April 3, 2026
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Annual statement filing for liaison offices in India requires RBI-linked disclosure, electronic submission, and timely compliance.
Form 162 is an annual statement required under section 505 of the Income Tax Act, 2025, for non-resident entities maintaining a liaison office in India. It must be filed once in each tax year within eight months from the end of the tax year, electronically through the income-tax e-filing portal and digitally signed by the authorised signatory. The form captures head office, liaison office, RBI approval, Annual Activity Certificate, financial, employee, and counterparty details, and may be used for verification, international taxation, and transfer pricing cross-checks.
April 3, 2026
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Annual statement compliance for liaison offices requires electronic filing, certified activity records, valid PAN, and timely submission.
Form 162 is the annual statement required for non-resident entities maintaining a liaison office in India under the Income-tax Act, 2025, to be filed electronically once in each tax year within eight months from the end of the tax year. The filing requires particulars relating to the office's activities, approval details, employees, Indian counterparties, and audited financial information, along with a certified Annual Activity Certificate and valid PAN. The form cannot be submitted offline or edited after acknowledgment, and non-filing or delay may attract penalty, revocation of liaison office permission, and other assessment-related action.

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Corp. Laws, SEBI & IBC

Over 1 Lakh Startups have at Least One-Woman Director/Partner Among 2.12 Lakh Recognised by DPIIT

March 17, 2026

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Government Strengthens Startup Ecosystem with Multi-Stage Funding and Support Schemes

Startup India initiative was launched on 16th January 2016, with an intent to build a strong ecosystem for nurturing innovation, startups and encouraging investments in the startup ecosystem of the country.

As on 31st January 2026, a total of 2,12,283 entities have been recognised as startups by the Department for Promotion of Industry and Internal Trade (DPIIT). Of the total entities recognised as startups, 1,02,054 entities have at least one-woman director/partner.

As on 31st January 2026, a total of 2,12,283 entities have been recognised as startups by DPIIT. The data with respect to status of entities (active, dissolved, struck-off, etc.) is maintained by the Ministry of Corporate Affairs (MCA) on a cumulative basis. As per the MCA, 6,789 recognised startups are categorized as closed (i.e., dissolved/struck-off). Of the total number of entities which are categorized as closed (i.e., dissolved/struck-off), 2,950 have at least one-woman director/partner.

Under the Startup India initiative, the Government is implementing flagship Schemes such as Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) to support startups across categories at various stages of their business cycle.

FFS has been established to catalyse venture capital investments and is operationalized by Small Industries Development Bank of India (SIDBI), which provides capital to Securities and Exchange Board of India (SEBI)-registered Alternative Investment Funds (AIFs) which in turn invest in startups. As on 31st January 2026, supported AIFs under the Scheme have invested around Rs. 25,859 crore in selected startups. Further, from 2020 onwards, around Rs. 2,995 crore have been invested in women-led startups by AIFs under the Scheme, as on 31st January 2026.

SISFS provides financial assistance to seed stage startups through incubators. SISFS is implemented from 1st April 2021. As on 31st January 2026, selected incubators under the Scheme have approved funding of around Rs. 592 crore to selected startups, of which funds of around Rs. 294 crore have been approved to women-led startups.

CGSS is implemented for enabling debt funding to startups through eligible financial institutions. CGSS is operationalized by the National Credit Guarantee Trustee Company (NCGTC) Limited and has been operationalized from 1st  April 2023. As on 31st January 2026, loans amounting to around Rs 925 crore have been guaranteed to startup borrowers, of which loans amounting to around Rs 39 crore have been guaranteed to women-led startups.

The total number of startups selected and the total number of startups that are categorized as closed (i.e., dissolved/struck-off) as per the MCA, under the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) are as follows:

Scheme

No.  of startups selected for

support under the Scheme as on 31st January 2026

No.  of startups supported which are categorized as closed (i.e., dissolved/struck-off) as per the MCA.

FFS

1,382

17

SISFS

3,311

26

CGSS

281

1

This information was given by Union Minister of State for Commerce and Industry Shri Jitin Prasada in Lok Sabha today.

***

ANNEXURE-I

The State/UT-wise and year-wise number of entities recognized as startups that have at least one-woman director/partner, as on 31st January 2026, are as under:

State/UT

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

Andaman and Nicobar Islands

1

1

4

2

5

4

3

10

8

2

Andhra Pradesh

37

85

92

102

137

173

294

313

670

59

Arunachal Pradesh

-

-

-

-

4

5

8

5

16

-

Assam

8

28

30

53

83

122

168

170

216

24

Bihar

23

53

59

114

183

257

384

417

600

63

Chandigarh

8

10

21

27

38

36

64

49

57

4

Chhattisgarh

18

55

69

54

82

91

148

218

230

25

Dadra and Nagar Haveli and Daman and Diu

1

 

1

3

4

7

6

12

12

1

Delhi

240

568

671

834

1197

1283

1607

1471

1911

166

Goa

13

24

22

27

41

49

40

64

86

5

Gujarat

108

217

313

365

800

944

1431

1568

1845

184

Haryana

98

233

360

375

532

674

893

888

1250

116

Himachal Pradesh

1

6

14

12

23

56

65

74

83

12

Jammu and Kashmir

2

14

12

23

40

71

82

111

150

20

Jharkhand

16

35

37

85

89

108

172

151

207

22

Karnataka

298

536

807

757

1065

1242

1500

1629

2219

196

Kerala

49

112

267

249

398

431

534

506

736

81

Ladakh

-

-

-

1

-

1

3

2

1

-

Lakshadweep

-

-

-

1

-

-

-

-

-

-

Madhya Pradesh

32

123

150

173

264

421

622

616

846

121

Maharashtra

388

839

1110

1305

1937

2412

2913

3043

4043

386

Manipur

3

1

1

5

21

13

7

22

42

4

Meghalaya

-

1

5

-

5

5

6

11

12

-

Mizoram

-

-

-

1

1

3

6

6

6

-

Nagaland

1

1

1

3

4

3

13

21

15

-

Odisha

40

80

90

126

196

230

329

296

409

40

Puducherry

2

7

6

3

7

11

21

13

28

5

Punjab

9

35

54

72

125

147

226

219

268

31

Rajasthan

53

114

192

205

301

458

691

657

906

87

Sikkim

-

-

-

1

-

2

1

-

3

-

Tamil Nadu

105

221

318

378

591

922

1333

1341

1674

159

Telangana

134

232

306

390

520

723

919

933

1619

146

Tripura

-

1

4

10

4

13

8

20

17

4

Uttar Pradesh

174

364

449

662

1065

1303

1788

1842

2525

301

Uttarakhand

11

27

57

53

77

121

125

131

204

16

West Bengal

72

142

158

199

360

527

622

585

804

83

Total

1945

4165

5680

6670

10199

12868

17032

17414

23718

2363

ANNEXURE-II

The State/UT-wise details of the total number of entities which are categorized as closed (i.e., dissolved/struck-off) as per the MCA with at least one woman director/partner are as follows:

State/UT

No. of entities which are categorized as closed (i.e., dissolved/struck-off) with at least one woman director/partner

Andhra Pradesh

48

Assam

25

Bihar

36

Chandigarh

12

Chhattisgarh

28

Delhi

324

Goa

14

Gujarat

156

Haryana

133

Himachal Pradesh

7

Jammu and Kashmir

16

Jharkhand

24

Karnataka

384

Kerala

97

Madhya Pradesh

81

Maharashtra

586

Manipur

4

Meghalaya

1

Mizoram

1

Nagaland

2

Odisha

49

Puducherry

6

Punjab

29

Rajasthan

95

Tamil Nadu

173

Telangana

176

Tripura

5

Uttar Pradesh

303

Uttarakhand

19

West Bengal

116

Total

2950

ANNEXURE-III

The year-wise details of funds invested in startups by AIFs supported under the FFS, as on 31st January 2026, are as under:

Year

Amount invested by selected AIFs in startups (in Rs. crore)

Amount invested by selected AIFs in women-led startups (in Rs. crore)*

2017

343.52

-

2018

676.84

-

2019

1623.56

-

2020

2066.89

333.96

2021

3491.10

576.14

2022

5973.40

430.72

2023

3292.10

57.24

2024

3809.20

616.82

2025

4271.60

914.47

2026

311.40

65.79

*Note: Data on investment in women-led startups is available from 2020.

ANNEXURE-IV

The year-wise details of funds approved to startups by incubators selected under the SISFS, as on 31st January 2026, are as under:

Year

Amount approved to startups by selected incubators (in Rs. crore)

Amount approved to women-led startups by selected incubators (in Rs. crore)

2021

27.59

14.05

2022

111.78

53.74

2023

175.98

87.43

2024

165.83

84.22

2025

110.04

54.52

2026

0.9

0.79

ANNEXURE-V

The year-wise details of loans guaranteed to startups under the CGSS, as on 31st January 2026, are as under:

Year

Amount of loans guaranteed to startups (in Rs. crore)

Amount of loans guaranteed to women-led startups (in Rs. crore)

2023

220.78

13.6

2024

381.08

13.44

2025

206.32

10.18

2026

117.72

2

 

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Acts Income Tax