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March 30, 2026
Form 092 – Frequently Asked Questions
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Quarterly reporting of non-resident client details through Form 092 requires online filing, declarations, and timely verification.
Quarterly reporting requirements apply to specified funds and stock brokers dealing with non-resident clients under Rule 157. Form 092 is the prescribed quarterly statement for furnishing non-resident client particulars, including name, contact details, country of residence, Tax Identification Number, and, where TIN is unavailable, the unique identification number issued by the foreign jurisdiction. The form must be filed online on the e-Filing portal within 15 days from the end of each quarter, and all non-resident clients dealt with during the quarter may be reported in the same return.
March 30, 2026
Guidance Note – Form 91
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Public interest refusal to furnish information under income-tax law now uses electronic Form 91 with DIN authentication.
Form 91 is the statutory electronic form used by the designated Income-tax authority to refuse furnishing information requested under section 258(2)(a) of the Income-tax Act, 2025 where disclosure is not considered to be in the public interest. It is issued only by the competent authority, records the application reference, assessee details and relevant tax year, and states the refusal on public interest grounds. The form is authenticated through a system-generated DIN and electronic issuance details, creating a formal and traceable record distinct from forms used for furnishing information or intimation of non-availability.
March 30, 2026
Protests continue in Nepal over former PM Oli’s arrest for third consecutive day
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Money laundering probe intensifies as Nepal widens scrutiny of former prime ministers and protests continue after arrests.
Protests continued in Nepal after the arrest of former Prime Minister K P Sharma Oli and former home minister Ramesh Lekhak in connection with the alleged suppression of the Gen Z protests, while the Department of Money Laundering Investigation and police intensified scrutiny of former prime ministers Sher Bahadur Deuba, K P Sharma Oli and Pushpa Kamal Dahal. The probe expanded after preliminary enquiries and the arrest of former minister Deepak Khadka in a money laundering case, with allegations of financial benefits for facilitating licences and contracts and forensic confirmation of burnt banknote fragments.
March 30, 2026
Form 091- Frequently Asked Questions
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Public interest refusal for tax information requests through Form 091 by the designated Income-tax authority.
Form 091 is the prescribed income-tax form used by the designated Income-tax authority to refuse furnishing information sought under section 258(2)(a) of the Income-tax Act, 2025, where disclosure is not considered to be in the public interest. It is issued only after an information request is received and declined, applies separately for each tax year, and is authenticated by the authority's signature, name, and designation without requiring an official seal.
March 30, 2026
LS passes insolvency law amendments; FM says bill will help maximise value for stakeholders
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Insolvency code amendments tighten timelines, add creditor-initiated resolution, and curb frivolous delays in the process.
Insolvency and Bankruptcy Code amendments introduce stricter timelines, an out-of-court creditor-initiated resolution mechanism, and an enabling framework for group and cross-border insolvency. The revised framework replaces the underutilised fast-track route with a creditor-initiated insolvency process based on debtor-in-possession and creditor-in-control principles, subject to safeguards and defined timelines. The amendments also provide deterrent measures against abuse of process, including penalties for vexatious and frivolous proceedings, and seek to protect the integrity of the resolution system by discouraging delay-causing litigation.
March 30, 2026
Guidance Note – Form 90
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Non-availability of information intimation under Form 90 is issued electronically after record verification and DIN authentication.
Form 90 is the electronic intimation issued by the designated Income-tax authority under section 258(2)(a) of the Income-tax Act, 2025, where requested information is unavailable in departmental records or no assessment has been made for the relevant tax year. It is generated after verification of records, authenticated through the Department's system with DIN, and includes the application reference, assessee name, and mandatory tax year. The form is event-based, has no fixed periodicity or due date, and standardises the term tax year for clear and traceable communication.
March 30, 2026
Form 090 – Frequently Asked Questions
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Non-availability of information intimation under income tax law through Form 090 communicates missing records, not rejection.
Form 090 is the prescribed intimation used by the designated Income-tax authority to communicate that information sought under section 258(2)(a) of the Income-tax Act, 2025 is not available in departmental records for the specified tax year. It is issued electronically after verification of records, is event-based, and must be furnished separately for each tax year. The form requires the exact tax year, recipient details, DIN and date, application reference, assessee name, and a statement confirming non-availability of information or that no assessment has been made.
March 30, 2026
Guidance Note – Form 89
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Electronic information disclosure under the Income-tax Act, 2025 uses Form 89 for structured, traceable furnishing or refusal.
Form 89 is the electronic statutory form used by the designated Income-tax authority to furnish permissible information in response to a valid application by an authorised public authority under section 258(2)(a) of the Income-tax Act, 2025, for a specified assessee and a single tax year. It is an event-based form, furnished through the Department's system with DIN and system-generated authentication, and is linked to the corresponding application in Form 88. The form contains assessee particulars in Part A and disclosure-limited information details in Part B, and it also allows recording of refusal, wholly or partly, where disclosure is not considered to be in the public interest.
March 30, 2026
Form 089 – Frequently Asked Questions
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Taxpayer information disclosure under authorised application governs Form 089, with electronic furnishing and limited, confidential disclosure.
Form 089 is the statutory online form used by designated income-tax authorities to furnish taxpayer-related information in response to a valid application made by an authorised public authority under section 258(2)(a) of the Income-tax Act, 2025. It is tax-year specific, furnished electronically, and may be used only for information available in departmental records and within the permissible scope of disclosure. The authority may refuse disclosure for unauthorised, invalid, incomplete, or overbroad requests, and the reasons must be recorded electronically.
March 30, 2026
Guidance Note – Form 88
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Assessee information requests under the Income-tax Act now require online Form 88 filing by authorised public authorities only.
Form 88 is the prescribed application for obtaining information about an assessee under Section 258(2)(a) of the Income-tax Act, 2025. It is available only to authorised public authorities, including regulatory and law-enforcement agencies, government departments authorised under Rule 155, and other competent authorities empowered by the Central Government. A separate application is required for each assessee and each tax year; consolidated requests are not allowed. The form must be filed online through the e-Filing portal with electronic verification and supporting documents uploaded electronically.
March 30, 2026
WTO meet concludes; no consensus on extension of e-commerce duty moratorium
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E-commerce duty moratorium ends unresolved as WTO members defer tariff and TRIPS safeguards talks.
The World Trade Organization meeting ended without consensus on extending the moratorium on customs duties on electronic transmissions, leaving the issue of tariffs on digital downloads and streaming unresolved. The lapse of the moratorium also coincided with the expiry of the TRIPS non-violation complaint safeguard, increasing the possibility of challenges to WTO-compliant measures and reducing policy space for developing countries. Related WTO reform and e-commerce work programme discussions were also deferred for continued negotiation in Geneva.
March 30, 2026
Insolvency law main factor in improving health of country's banking sector: FM in Lok Sabha
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Insolvency and bankruptcy reform drives banking health, with proposed changes aimed at faster admission of resolution applications.
The Insolvency and Bankruptcy Code is described as a central mechanism for improving banking sector health through recovery of non-performing assets under the insolvency resolution process. The proposed amendment Bill seeks further changes to the framework, including measures to reduce the time taken for admission of insolvency resolution applications, while the resolution process is said to have coincided with better company performance and improved corporate governance.
March 30, 2026
Form 088 – Frequently Asked Questions
Show AI Summary
Taxpayer information requests under Form 088 require authorised filing, specific grounds, separate tax year submissions, and electronic portal authentication.
Form 088 is the online application used by authorised public authorities, regulatory bodies, law-enforcement agencies, and other competent authorities to seek specific taxpayer information under Section 258(2)(a) of the Income-tax Act, 2025. It must be filed separately for each taxpayer and each tax year through the e-Filing portal, with narrowly framed particulars, stated reasons, and supporting authorisation where necessary. Incomplete, overbroad, or unauthorised requests may be returned or rejected, and communications are issued electronically with portal-based status tracking.
March 30, 2026
Guidance Note – Form 81
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Tonnage Tax Scheme audit report filing requires accountant certification, supporting annexures, and electronic submission within the specified date.
Form No. 81 is prescribed for furnishing the audit report under section 232(21) for a company that has opted for taxation under the Tonnage Tax Scheme. The report, prepared and certified by an accountant, verifies books of account, computation of shipping income, compliance with charter-in limits, and other statutory conditions. It is to be furnished on or before the specified date and may include annexures such as charter arrangement certificates, related party notes, asset notes, and loss statements.
March 30, 2026
Form 81 – Frequently Asked Questions
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Tonnage Tax Scheme reporting requires accountant certification, separate books, and detailed disclosure of shipping income and compliance.
Form 81 is an accountant's report for a company opting for the Tonnage Tax Scheme, certifying the correctness of books of account and income computation for qualifying ships. It requires separate books, disclosure of charter-in compliance, shipping income, statutory reserve details, ship-wise tonnage income, related party transactions, depreciation, non-exclusive assets, and losses, with mandatory annexures where applicable and reasons for any negative or qualified answers.
March 30, 2026
Guidance Note – Form 80
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Tonnage Tax Scheme option filing requires Form 80, supporting vessel documents, and electronic verification of eligibility.
Form No. 80 is the prescribed electronic application for an Indian company engaged in operating ships or inland vessels to exercise or renew the option to be governed by the Tonnage Tax Scheme. It requires particulars of the applicant, ships or inland vessels, supporting certificates and approvals, and is used to verify whether the statutory conditions for coverage under Chapter XII-G are satisfied.
March 30, 2026
Form 80 – Frequently Asked Questions
Show AI Summary
Tonnage tax scheme application rules govern Form 80 filing, renewal, verification, completeness, and false statement liability.
Form 80 is the mandatory application for an eligible Indian company engaged in the operation of ships or inland vessels to exercise or renew the option under the tonnage tax scheme. The form must be filed within the prescribed time, includes Part A for all cases and Part B only for renewal, and requires detailed ship-wise particulars with supporting annexures. It is filed with the jurisdictional Joint Commissioner and must be signed by the authorised signatory. Incomplete applications may be treated as invalid, and false statements in the form or annexures attract prosecution.
March 30, 2026
Guidance Note – Form 79
Show AI Summary
Pass-through taxation reporting for investment funds through Form 79, with unit holder income disclosure and auto-generated statements.
Form 79 is the consolidated annual statement for Investment Funds to report income paid or credited to unit holders under the pass-through taxation framework. Eligible Category I or Category II AIFs, and comparable IFSCA-regulated funds subject to the stated conditions, must file it annually by 15 June with detailed fund-level income, loss, set-off, and unit holder-wise distribution particulars. The form requires verification by both an authorised person and a qualified accountant, and its filing triggers auto-generation of Form 78 statements for unit holders.
March 30, 2026
Form 79 – Frequently Asked Questions
Show AI Summary
Investment fund income distribution reporting requires Form 79 filing online with supporting records and prescribed timelines.
Form 79 is the statement of income paid or credited by an investment fund to persons liable to tax on such income, and it must be filed by the person responsible for making the payment or credit on behalf of the fund. The statement is to be submitted online through the Income Tax e-filing portal by 15 June of the financial year following the tax year, with supporting records including audited financial statements, unit holder details, income distribution data, loss set-off computations, and the relevant registration certificate.
March 30, 2026
Guidance note - Form 78
Show AI Summary
Pass-through taxation reporting through Form 78 requires unit holder income statements, capital gain codes, and timely furnishing
Form 78 is the individual unit holder statement for income distributed by an Investment Fund under section 224 and Rule 145, furnished by the person responsible for payment or credit on behalf of the Fund to each unit holder by 30 June of the following financial year. It is system-generated from the consolidated parent Form 79 and includes unit holder details, fund particulars, income or loss classification with capital gain codes, and deemed loss details under section 224(3). No separate documents are required, and the form supports transparent pass-through income reporting by unit holders.

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FEMA / RBI

IBL Finance Ltd has secured a Credit Rating from Acuité Ratings and Research Limited

March 21, 2026

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Surat (Gujarat) [India], March 21: IBL Finance Ltd (NSE – IBLFL) a fintech-driven Non-Banking Financial Company has secured a LONG-TERM INVESTMENT GRADE rating of BBB- (Triple B Minus) with a Stable Outlook by the rating agency Acuité Ratings & Research Limited. This achievement reflects the Company’s strong governance standards, prudent risk management practices, sound financial discipline, and robust compliance framework. The rating reinforces our credibility within the financial ecosystem and marks an important milestone in strengthening our market position and long-term growth strategy. With this rating, IBL Finance Limited is well-positioned to access capital at competitive rates, accelerate strategic investments, and further strengthen its leadership in the fintech-enabled lending space.

Key Strengths 1. Healthy Capital Structure IBL Finance Limited maintains a strong capital position supported by a healthy net worth and comfortable capital adequacy levels. The Company has a net worth of ₹ 59.90 Crore as on September 30, 2025. IBLFL is listed on the NSE Emerge and successfully raised ₹ 33.40 Crore through its IPO in January 2024, strengthening its capital base to support future growth.

The Company’s gearing remained comfortable at 0.62x as on September 30, 2025, indicating adequate headroom for further borrowings. Additionally, the Company maintains a strong Capital to Risk-Weighted Assets Ratio (CRAR) of 57.27% as on September 30, 2025, significantly above regulatory requirements.

Post IPO, the promoters and the promoters group continue to hold approximately 63% shareholding, reflecting continued promoter commitment, while the remaining shareholding is held by public investors.

• Strong and Diversified Debt Resource Mix The company has a well-diversified resource mix for debt raising. As of September 2025, approximately 21% of the total borrowings are raised through NCDs, while around 79% are sourced from Financial Institutions (FIs). Going forward, the company intends to further diversify its borrowing profile by raising funds through multiple channels, including NCDs, loans from FIs, and bank borrowings, with the objective of optimizing borrowing costs and maintaining a well-structured debt resource mix.

• Stable Asset Quality The Company is engaged in Financial Institution (FI) lending and personal loans, with FI lending forming the core of its portfolio. As of September 30, 2025, approximately 90% of the Company’s AUM comprised FI lending to NBFCs (Secured), while the remaining portfolio consisted of personal loans.

As of September 30, 2025, the Company reported Gross NPA (GNPA) of 2.71% and Net NPA (NNPA) of 2.44%, indicating stable asset quality, compared to GNPA of 2.54% and NNPA of 1.99% as on March 31, 2025.

• Strategic Allocation of Lending Across Product Segments The company has diversified its lending portfolio across multiple product segments through financing to Financial Institutions (FIs). As on September 2025, the portfolio (end use wise) is well distributed with 39.14% in Personal Loans, 15.65% in Business Loans (secured & unsecured), 12.00% in Vehicle Loans, 10.31% in Consumer Loans, 9.86% in Loan Against Property (LAP), 7.88% in Microfinance (MFI), and 5.16% in Gold Loan.

Financial Performance Over the past few years, the Company has demonstrated strong and consistent financial growth with clear year-wise improvements across all key parameters. The Net Worth has increased significantly from ₹20.67 crore in FY 2022–23 to ₹59.90 crore as of September 2025, reflecting a robust growth of 190%. Similarly, Assets Under Management (AUM) have expanded sharply from ₹14.61 crore in FY 2022–23 to ₹94.13 crore in September 2025, marking an impressive growth of 544%, indicating strong business expansion and customer acquisition. On the profitability front, Profit Before Tax (PBT) has improved from ₹2.86 crore in FY 2022–23 to ₹2.99 crore in FY 2024–25, while Profit After Tax (PAT) has remained healthy, growing from ₹2.05 crore in FY 2022–23 to ₹2.36 crore in FY 2024–25, and standing at ₹1.24 crore for the half year ended FY 2025–26. In terms of asset quality, the Company has shown notable improvement with Gross NPA reducing from 5.19% in FY 2022–23 to 2.71% in September 2025, and Net NPA declining from 3.94% to 2.44% over the same period. Overall, the year-wise performance reflects a well-balanced growth strategy supported by improving profitability and strengthening asset quality.

About IBL Finance Limited IBL Finance Limited (IBLFL), established in 2017, represents a new generation of financial services innovation in India. As a fintech-driven Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI) and listed on the NSE Emerge platform, stand at the intersection of traditional financial expertise and cutting-edge digital technology.

The Headquartered in Surat, Gujarat—one of India's most dynamic business hubs—IBL Finance has established itself as a trusted financial partner for diverse customer segments. Our comprehensive product portfolio serves individuals seeking personal financial solutions and NBFCs looking for institutional funding partnerships. This diversified approach ensures that company remain resilient across market cycles while delivering consistent value to their stakeholders.

Since commencing operations in 2018, IBL Finance has achieved remarkable milestones: disbursing over ₹350+ crores in loans and serving 1.86+ lakh customers across India. This track record demonstrates company ability to scale operations efficiently while maintaining asset quality and customer satisfaction. Company’s pan-India presence ensures that it can serve customers wherever they operate, from metropolitan cities to tier-2 and tier-3 towns.

Disclaimer:Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political, or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. IBL Finance Ltd. will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

(Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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