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April 4, 2026
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Recognised provident fund accounting in Form 185 requires annual subscriber-wise records of contributions, interest, withdrawals, and balances.
Rule 294 requires recognised provident fund accounts to be prepared at intervals not exceeding twelve months, with a separate account maintained for each subscriber in Form 185. The form is maintained internally by the provident fund trust or authorised officers, and records subscriber particulars, opening balance, monthly contributions, interest, withdrawals or advances, closing balance, and verification. Part A is maintained separately for each subscriber, while Part B presents the same information in consolidated annual subscriber-wise form.
April 4, 2026
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Recognised Provident Fund recordkeeping requires Form 185 to track contributions, interest, withdrawals, and annual balances.
Form No. 185 is the prescribed accounting format for individual subscriber records under a Recognised Provident Fund, maintained by trustees or authorised officers under the Income-tax Rules. It records annual subscriber-wise particulars such as contributions, interest credited, withdrawals or advances, opening and closing balances, and verification details. Part-A is kept for each subscriber, while Part-B is the annual consolidated abstract filed with the Assessing Officer.
April 4, 2026
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Deduction audit report for petroleum and natural gas businesses requires deposit verification, withdrawal checks, and Chartered Accountant certification.
Form No. 183 is the prescribed audit report for claiming deduction under section 49 in the business of prospecting, extracting, or producing petroleum, natural gas, or both in India. It is furnished by a Chartered Accountant and verifies audit of the relevant books, timely deposit into the specified account, permitted use of withdrawals, disallowance of inadmissible expenditure, and transfer restrictions on assets acquired under the scheme. The form is filed annually before the return due date and requires supporting records of books, deposits, withdrawals, and asset transfers.
April 4, 2026
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Supply chain disruption hits Bikaner snack exports as conflict delays shipments and raises freight and input costs.
West Asia conflict has disrupted Bikaner exports and imports, causing delays in shipments of bhujia, papad, namkeen and spices to Gulf and European markets. Traders report longer transit routes, container shortages, higher freight charges, rising raw material and packaging costs, and consignments stuck at ports or in transit, affecting the city's export-driven economy.
April 4, 2026
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Audit report for petroleum and natural gas deduction claims requires certification, supporting records, and online filing compliance.
Form No. 183 is the prescribed audit report under Rule 291 read with Section 49 of the Income-tax Act, 2025 for an assessee engaged in the business of prospecting, extracting, or producing petroleum, natural gas, or both in India. It is mandatory where the deduction is claimed and must be certified by an Accountant. The form requires supporting books, financial statements, evidence of deposits and withdrawals from the specified account, and a computation showing that the deduction remains within the permissible limit.
April 4, 2026
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Deduction claim audit report for tea, coffee and rubber businesses requires Chartered Accountant certification and compliance with deposit rules.
Form No. 182 is a statutory audit report for assessees engaged in growing and manufacturing tea, coffee or rubber who claim deduction under section 48. It must be furnished by a Chartered Accountant annually before the return due date and certifies audit of books, timely deposit in the specified account or approved scheme, withdrawal utilisation, disallowable amounts, asset transfers, and the deduction permissible. The form is now a smart, tabulated e-form with mandatory professional identifiers and standardised fields for e-filing and validation.
April 4, 2026
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Tax deduction audit report rules require prescribed certification, verified deposits, and portal filing for tea, coffee and rubber businesses.
Form No. 182 is the prescribed audit report for assessees engaged in growing and manufacturing tea, coffee or rubber in India who claim deduction under section 48. It must be certified by an Accountant and furnished annually before the return due date. The report is mandatory for the deduction claim, supports verification of deposits, withdrawals, utilisation and deduction computation, and is completed through the e-filing portal with digital signing and assessee acceptance.
April 4, 2026
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Electoral trust audit reporting through Form 181 requires electronic disclosure of contributions, distributions, and administration expenses.
Form 181 is the annual audit report for electoral trusts, to be furnished electronically by an accountant through the e-filing portal before the return due date. It requires disclosure of voluntary contributions received and distributed, application for the benefit of persons or interested persons, and expenditure on administration or management of the trust. The form has been simplified and aligned with the Income-tax Act, 2025.
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
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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
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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.

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Customs & Trade

How Energy Star Ratings Affect the Price of Window Air Conditioners

March 25, 2026

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Energy-efficient home cooling has become increasingly important as households try to manage electricity expenses without compromising comfort. Among the many ways to evaluate an AC, the Energy Star label remains one of the clearest indicators of long-term savings and environmental performance. Yet, few buyers understand how these ratings directly influence the price of a window air conditioner. Understanding what level of efficiency is ideal for practical use, and how costs compare to other alternatives is vital.

This blog explains how Energy Star ratings work, why they matter, and how they affect both the upfront investment and lifetime ownership cost of window ACs.

What Energy Star Ratings Really Mean Energy Star ratings are awarded to air conditioners that meet strict energy-efficiency standards defined by the Bureau of Energy Efficiency (BEE). These ratings, given in stars, represent how much cooling an AC can deliver per unit of electricity consumed.

• More stars mean higher efficiency.

• Higher efficiency means lower electricity bills.

• Lower energy waste means better environmental performance.

A higher-rated AC typically uses advanced components such as high-density air filters, blue fin coating for heat-exchange efficiency, improved airflow systems, and smart, eco-friendly modes. These enhancements improve performance and can significantly affect the window air conditioner price.

How Energy Star Ratings Affect the Upfront Price Energy Star ratings often increase upfront costs because higher-rated window ACs are built with more efficient components, smarter controls, and tighter performance standards. This section explains what drives that initial premium and how it connects to real-world cooling and power use.

Higher-rated ACs Use More Advanced Components A 3-Star or 5-Star window AC includes components engineered for optimized energy use. These may include: • High-density Filter for improved air purification • 100% copper tubing with Inner Grooved Tube (IGT) for better thermal conductivity • Blue fin or hydrophilic coating to reduce corrosion and enhance cooling efficiency • Turbo cooling operations that maintain efficiency even at higher fan speeds These features naturally raise the price of a window air conditioner because they cost more to produce.

Enhanced Power Management Systems Energy-efficient units often include: • Auto Drain • Self-diagnosis and Memory Function • Timer On/Off • Multiple Fan Speeds • Auto Restart Protection The combination of smart features improves ease of use while ensuring minimal energy loss, but it also increases manufacturing costs. This pushes up the price of a window air conditioner compared to non-rated or lower-rated models.

Better Motors and Compressors Higher Energy Star ratings require motors that work more efficiently. These motors: • Maintain airflow without drawing excess power • Reduce heat buildup • Support modes like Turbo, Sleep, Dry, and Fan modes • Enable quieter, long-lasting performance.

As a result, the price of a window air conditioner with a better motor will naturally be higher.

Impact of Energy Star Ratings on Long-term Operating Cost Even though a higher star rating increases the upfront price of a window air conditioner, the long-term savings can be substantial.

• Lower Monthly Electricity Bills Consider a window AC with 1525W power consumption and a 3-Star BEE rating. A similar 1-Star AC might consume more power. Over a full summer, the energy savings can be significant.

• Better Durability and Lower Maintenance High-efficiency ACs often use corrosion-resistant technologies such as blue fin coating. This improves heat transfer and protects the coils, extending AC life and reducing repairs.

• Reduced Wear and Tear Efficient systems cool faster, so they operate under lower strain. Less strain means longer lifespan.

When you factor in these benefits, the price of a window air conditioner with a higher Energy Star rating becomes justified.

How to Choose the Right Star Rating for Your Home When deciding how star ratings influence the price of a window air conditioner, consider: 1. Usage Patterns If your AC runs daily for long hours, a 3-Star or higher rating helps control power bills over time. For occasional use, a 2-Star model can balance comfort with reasonable upfront costs.

2. Room Size Window ACs suit small to medium rooms where cooling demand stays predictable. In larger spaces, efficiency drops faster, so sizing correctly matters to avoid higher running costs and uneven cooling.

3. Budget vs. Long-term Savings A lower star rating can reduce the initial spend, but it may raise monthly electricity costs. Higher-rated models cost more upfront yet often deliver better payback through lower consumption and longer durability.

4. Electricity Tariffs in Your Region In areas with higher electricity tariffs, efficient ACs deliver stronger savings because every unit of power costs more. Higher star ratings help cut usage, making your operating expenses easier to manage.

Beyond star ratings, you can choose other models based on room size, noise preference, installation limits, and maintenance needs. If you want quieter cooling and premium efficiency, a split air conditioner 1.5 ton can be a strong alternative. Compare features, service support, and operating costs before finalising.

Buy Smarter Today, Spend Less All Season Choosing a higher star rating is ultimately a decision about long-term comfort and cost control, not just the sticker tag. When you evaluate the price of a window air conditioner, treat energy efficiency as an investment that can protect you from rising power bills and performance drop-offs over time.

Compare star ratings alongside real-use factors like room size, daily runtime, and local electricity tariffs, then shortlist models that match your routine without overpaying for capacity you will not use.

Electronic brands such as Kelvinator offer multiple efficiency tiers, so you can pick the right balance of upfront spend, dependable cooling, and ownership value.

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

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Acts Income Tax