Loading...

⚠ ✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
Keyword Search :
AI Tools : New
Ask tax questions in natural language. Powered by AI trained on the TaxTMI legal database. Use AI Tools ➞
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
    6. Text Search
  6. The system will try to fetch results that contains ALL your words.
  7. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
    8. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search ❯
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ---- ❯
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ---- ❯
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ---- ❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
❮
❯
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

Open Link
News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
March 25, 2026
Guidance Note - Form 16
Show AI Summary
Scientific research donation certificates streamline deduction verification through annual donor-wise reporting, Form 16 linkage, and corrected issuance.
Form 16 serves as the annual donor-wise certificate for contributions made to prescribed institutions for scientific research and is used to support verification of deductions claimed under the Income-tax Act, 2025. The certificate records aggregate donations received during the tax year, is not a receipt for individual transactions, and operates separately from transaction-level acknowledgments issued by the institution. It is linked to Form 15, must be issued once in each tax year on or before 31 May, and may be corrected if errors are found.
March 25, 2026
Lok Sabha passes Finance Bill 2026 with 32 govt amendments
Show AI Summary
Finance Bill 2026 advances budgetary approval as Lok Sabha passes the measure with government amendments.
Lok Sabha passed the Finance Bill 2026 with 32 government amendments, completing its role in the Budgetary approval process for 2026-27 and sending the Bill to the Rajya Sabha for further consideration. The Budget framework for 2026-27 provides for substantial expenditure and capital outlay, along with projected gross tax revenue, gross borrowing, and a lower fiscal deficit than the current fiscal year.
March 25, 2026
FORM 16 – Frequently Asked Questions (FAQs)
Show AI Summary
Annual donor certificate for scientific research requires electronic FORM 16, separate from receipts and subject to deduction conditions.
Prescribed undertakings or institutions covered by section 45(3) must issue FORM 16 as an annual certificate to donors for sums received for scientific research. The certificate is issued once for the relevant tax year, on or before 31 May immediately following that year, and records the aggregate donation, donor particulars, the institution's approval details, and the relevant clause of section 45(3). FORM 16 is distinct from FORM 15, may be corrected or revised, and does not by itself guarantee deduction to the donor.
March 25, 2026
Guidance Note - Form 15
Show AI Summary
Scientific research donation reporting under Form 15 requires annual filing, donor-wise particulars, and cross-verification of deductions.
Form 15 is a statutory annual information statement for prescribed undertakings or institutions receiving sums for scientific research, social science research or statistical research under the Income-tax Act, 2025. It must be furnished annually by the recipient institution and verified by the person authorised to verify its return of income, on or before 31st May following the relevant tax year. The form captures donor-wise and donation-wise particulars and serves as a primary data source for cross-verification of deductions claimed by donors, without itself conferring any deduction.
March 25, 2026
FORM 15 – Frequently Asked Questions (FAQs)
Show AI Summary
Scientific research donation reporting under FORM 15 requires annual electronic furnishing by the recipient institution.
FORM 15 is a prescribed annual statement to be furnished by a prescribed undertaking or institution in respect of sums received for scientific research during a tax year. It applies to eligible sums received for scientific, social science or statistical research, and not to charitable donations. The obligation lies with the recipient institution, the statement is to be furnished annually on or before 31st May, and it must include donor-wise particulars, approval details, and receipt information. Non-furnishing or incorrect furnishing may affect the donor's deduction and attract statutory consequences.
March 25, 2026
Guidance Note - Form 14
Show AI Summary
In-house R&D approval under Form 14 conditions tax deduction eligibility and links scientific recognition with compliance oversight.
Proposed Form 14 is the statutory approval order for an in-house research and development facility under section 45(2) of the Income-tax Act, 2025. Issued by the Department of Scientific and Industrial Research under Rule 29, it records the company's particulars, the facility details, DSIR recognition, and the grant of approval for the deduction framework. The approval is facility-specific, depends on continued DSIR recognition, and does not by itself establish deduction entitlement.
March 25, 2026
FORM 14- Frequently Asked Questions (FAQs)
Show AI Summary
In-house research and development approval governs deduction claims subject to DSIR recognition and statutory compliance.
FORM 14 is the prescribed approval order issued by DSIR for a company's in-house research and development facility under section 45(2) read with Rule 29. It formally grants approval, records the scientific research to be undertaken, links the approval with DSIR recognition and the company's application, and supports a deduction claim subject to compliance with statutory conditions. The form is facility-specific, not a filing form, and may be withdrawn for non-compliance or withdrawal of DSIR recognition.
March 25, 2026
Guidance Note - Form 13
Show AI Summary
Scientific research and development audit reporting supports deduction claims through mandatory independent certification and account verification.
Proposed FORM 13 is the annual statutory audit report for an approved in-house scientific research and development facility under section 45(2) of the Income-tax Act, 2025. It is furnished by the company through an independent accountant and provides independent assurance on maintenance of separate accounts, correctness of capital and revenue expenditure, conformity with DSIR guidelines, and linkage with audited financial statements. FORM 13 is a mandatory supporting document for deduction claims and operates with FORM 11, FORM 14 and FORM 12 in the compliance framework.
March 25, 2026
FORM 13- Frequently Asked Questions (FAQs)
Show AI Summary
In-house R&D audit report defines compliance for deduction claims through separate accounts and certified expenditure.
FORM 13 is the accountant's annual audit report for an approved in-house scientific research and development facility claimed under section 45(2). It certifies maintenance of separate accounts, correctness of expenditure, and conformity with DSIR guidelines, and must be attached with or furnished in support of the company's return of income. The form is a mandatory compliance requirement, but deduction remains subject to verification and assessment.
March 25, 2026
Guidance Note - Form 12
Show AI Summary
Research and development deduction reporting through Form 12 supports technical certification, expenditure verification, and compliance oversight.
Proposed Form 12 is the statutory reporting form through which the prescribed authority, acting under Rule 29, submits findings and certification regarding an approved in-house research and development facility to the jurisdictional Chief Commissioner of Income-tax. It operates within the compliance framework for deduction of expenditure on approved in-house R&D facilities under section 45(2) of the Income-tax Act, 2025 and records evaluation details, eligible expenditure and asset movements for verification of deduction claims.
March 25, 2026
FORM 12 - Frequently Asked Questions (FAQs)
Show AI Summary
Research and development deduction reporting through FORM 12 supports verification of eligible expenditure and compliance oversight.
FORM 12 is a statutory report furnished by the prescribed authority under section 45(2) read with Rule 29 for an approved in-house research and development facility. It is filed with the Chief Commissioner of Income-tax and records the facility's examination, recognition status, and eligible capital and revenue expenditure for verifying deduction claims. The form is not filed by the company and does not itself determine final allowability of deduction, which remains subject to departmental verification during processing or assessment.
March 25, 2026
Guidance Note - Form 11
Show AI Summary
In-house R&D facility approval framework under income tax law requires DSIR cooperation, audit compliance, and ongoing reporting.
FORM 11 sets out the statutory application and agreement framework for approval of in-house research and development facilities under section 45(2) of the Income-tax Act, 2025, read with Rule 29. It applies to eligible companies maintaining or proposing to maintain an in-house R&D facility and requires disclosure of company particulars, a DSIR agreement, and binding undertakings on audit, reporting, asset use, and compliance. Approval is facility-specific and remains subject to continued compliance, with DSIR serving as the prescribed authority for evaluation and oversight.
March 25, 2026
FORM 11 - Frequently Asked Questions (FAQs)
Show AI Summary
In-house research and development approval requires disclosure, audit, and ongoing compliance before deduction can be considered.
Form 11 is the prescribed application under Rule 29 for a company seeking to enter into an agreement with the Department of Scientific and Industrial Research for an in-house research and development facility under section 45(2). It requires disclosure of company particulars, R&D expenditure, facility details, research objectives, and undertakings on maintenance and audit of accounts. The form is generally a one-time approval application, but annual compliance continues through progress reports, audited accounts, and expenditure details. Approval does not itself secure deduction, which depends on statutory conditions, the agreement, and verification.
March 25, 2026
Guidance Note - Form 10
Show AI Summary
Statutory reporting for approved scientific research programmes under FORM 10 strengthens tax oversight and compliance monitoring.
Proposed FORM 10 is the statutory reporting form furnished by the prescribed authority to the Income-tax Department for approved scientific research programmes under section 45(3)(c) of the Income-tax Act, 2025. It functions as the oversight stage after FORM 7 and FORM 8, linking approvals with departmental monitoring of payments, utilisation and deduction claims. The form is furnished electronically to the jurisdictional Chief Commissioner within the prescribed time and records the essential particulars of the approved programme, while not conferring any entitlement on the sponsor or replacing the approval order.
March 25, 2026
FORM 10 - Frequently Asked Questions (FAQs)
Show AI Summary
Scientific research programme approval reporting under tax law supports compliance monitoring, deduction verification, and administrative recordkeeping.
FORM 10 is a statutory report furnished by the prescribed authority in relation to a scientific research programme approved under section 45(3)(c) read with Rule 30. It is a post-approval monitoring instrument, furnished to the Chief Commissioner of Income-tax having jurisdiction over the sponsor within the prescribed time. The form records approval details, programme particulars, conditions of approval, and supports administrative monitoring, compliance verification, and cross-checking of deduction claims. It does not alter or substitute the approval granted under FORM 8.
March 25, 2026
Guidance Note - Form 9
Show AI Summary
Scientific research deduction claims depend on programme-specific Form 9 receipts, approval linkage, and statutory compliance requirements.
Form 9 is a statutory receipt for payments made towards an approved scientific research programme and links the payment stage with the approval granted in Form 8 and the sponsor's deduction claim under section 45(3)(c) of the Income-tax Act, 2025. It is issued by the designated executing institution, records sponsor details, payment particulars, programme information, approved cost, tax years and cumulative receipts, and is programme-specific. The receipt supports but does not itself establish entitlement to deduction, which remains subject to statutory compliance and verification.
March 25, 2026
FORM 9 - Frequently Asked Questions (FAQs)
Show AI Summary
Form 9 receipt for approved scientific research payments supports deduction claims and compliance tracking.
Form 9 is the prescribed receipt for payments received towards an approved scientific research programme under section 45(3)(c) read with Rule 30. It is issued to the sponsor by the executing institution, records the payment against the approved programme in FORM 8, and supports the sponsor's deduction claim subject to compliance with the Act and Rules. The form is programme-specific, may be issued for each payment or tranche including advance payments, and captures the sponsor details, payment particulars, approved cost, approved tax years, and cumulative receipts. It is not filed with the tax department but retained as supporting evidence.
March 25, 2026
Guidance Note - Form 8
Show AI Summary
Scientific research programme approval under tax law requires Form 8, with defined scope, cost, compliance and monitoring conditions.
Form 8 is the statutory approval order for a scientific research programme under section 45(3)(c) of the Income-tax Act, 2025 and Rule 30. It is issued after examination of a sponsor's Form 7 application, records the approved scope, duration, cost, tax years and conditions of the programme, and is signed by the designated authority. The approval is programme-specific, cost-specific and time-bound, while post-approval compliance includes separate books, audit, reporting, asset restrictions and final completion reporting.
March 25, 2026
How Energy Star Ratings Affect the Price of Window Air Conditioners
Show AI Summary
Energy Star ratings shape window air conditioner pricing by raising upfront cost while lowering electricity bills and maintenance.
Energy Star ratings for window air conditioners reflect Bureau of Energy Efficiency standards and indicate how much cooling an AC delivers per unit of electricity consumed. Higher-rated units generally cost more upfront because they use advanced components, smarter controls, and more efficient motors and compressors, but they can lower electricity bills, reduce maintenance, and extend service life. Choosing the right star rating depends on usage patterns, room size, budget, and local electricity tariffs, with energy efficiency affecting both purchase price and long-term ownership cost.
March 25, 2026
FORM 8 - Frequently Asked Questions (FAQs)
Show AI Summary
Scientific research programme approval in FORM 8 governs tax deduction eligibility, compliance conditions, and programme-specific approval limits.
Approval in FORM 8 records the prescribed authority's sanction of a scientific research programme under section 45(3)(c) read with Rule 30, following an application in FORM 7. It is a statutory approval order, not a filing by the sponsor, and identifies the programme, approved tax years, approved total cost, and any attached conditions. FORM 8 is programme-specific and cost-specific, and deduction depends on compliance with the Act, the Rules, and post-approval obligations.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Home › news › News and Press Release › 2026 › March, 2026 › This
Back

All News

whatsapp Join Channel
Showing Results for : Reset Filters
News and Press Release

Department of Financial Services (DFS) reviews Unsatisfied closed complaints related to Banks and Insurance Companies registered on Centralised Public Grievance Redress and Monitoring System (CPGRAMS)- A step towards Ethical Governance

March 27, 2026

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Print Options

Exercise assesses the efficacy of grievance resolution through a 'dip-stick survey' at the top most level in the department

18 review meetings held, 360 grievances reviewed through coordinated efforts with regulators and financial institutions

The Department of Financial Services (DFS), under the chairmanship of Secretary (FS) has been holding video conferences with Reserve Bank of India, Insurance Regulatory and Development Authority of India, Public Sector Banks, Public Sector Insurance Companies, Financial Institutions, Private Sector Banks and Private Sector Insurance Companies, along with randomly selected twenty (20) complainants related to CPGRAMS since 07.01.2024.

Till date eighteen (18) such meetings have been conducted and 360 grievances have been reviewed. The objective of such an exercise is to assess the efficacy of grievance resolution through a 'dip-stick survey' at the top most level in the department.

There were many heart-warming success stories that emerged from these meetings. Excerpts of some of the resolutions provided are mentioned below to appreciate the struggles experienced by the citizens and how the mechanism of giving an opportunity to the citizens of being heard at the senior most level of DFS enabled them to get their long-pending rightful dues/claims.

(i) Non-payment of PMSBY claim

A beneficiary, whose husband expired in 2022 had complained about non-receipt of PMSBY claim on CPGRAMS. The issue was resolved and Rs 2,00,000 was credited in the account of the complainant maintained at Punjab National Bank (30.06.2025).

(ii) Non-payment of superannuation fund of complainant's deceased father

A beneficiary had complained about non-payment of superannuation fund of his deceased father by LIC. The issue was resolved and Rs 9,65,000 was credited in the account of the nominee (30.06.2025).

(iii) Non-payment of additional pension.

A 90-year-old super senior citizen pensioner had complained about non-payment of additional pension. The issue was resolved and an arrear of Rs 33058/- was credited in the account of the complainant maintained at Bank of Maharashtra (18.07.2025).

(iv) Mis-selling of insurance policies to a senior citizen.

A 76-year-old citizen had complained that he had requested M/s India First Life Insurance Company Ltd for unit link plan but he was sold three single premium policies. The case was resolved after intervention by the department and all the three policies were cancelled, premium was also reversed in the account of the complainant (19.08.2025).

(v) Non-payment of Medical Claim

A beneficiary was diagnosed with cancer and was successfully operated at a hospital in Ahmedabad. His medical claim was rejected by HDFC Ergo General Ins. Co. Ltd. citing that the insured had a tobacco addiction. The issue was resolved and a claim of Rs 18,53,121 was settled (24.10.2025).

(vi) Non-payment of medical claim.

A beneficiary had complained about repudiation of his medical claim by M/s Star Health and Allied Insurance Co Ltd. The issue was resolved and Rs 50639/- was settled in the account of the insurer (27.11.2025).

(vii) Non-settlement of death claim.

A beneficiary had complained about non-settlement of death claim of her deceased husband by Axis Max Life Insurance Company Limited. The issue was resolved and Rs 13,30,000 was credited in the account of the complainant (31.12.2025).

(viii) Mis-selling of insurance policy

An eighty-four-year-old citizen had complained about mis-selling of insurance policy by M/s Canara HSBC Life Insurance Company. The issue was resolved and Rs 10,00,000 was credited in the account of the complainant. (31.12.2025)

(ix) Non-payment of deceased claim.

A beneficiary had complained about delay in settlement of complainant’s deceased husband’s accident insurance claim by Acko General Insurance Limited. The case was resolved and a claim of Rs 5,00,000 was credited in the account (21.04.2025).

(x) Delay in family pension of a widow pending since 2003.

A beneficiary had complained about non-commencement of family pension pending since 2003. After intervention by the department, Rs 14,75,299 was credited in her account maintained at Bank of Maharashtra and regular family pension was also started (25.02.2026).

Rejection of Insurance claim of stock hypothecated to Bank.

A beneficiary had complained about rejection of insurance claim of stock hypothecated to Indian Overseas Bank. This issue was resolved and Rs 3,00,000/- was credited in the account of complainant (25.02.2026)

Such meetings, chaired by Secretary (DFS), act as:

(a) A corrective mechanism thereby fixing pending and systemic issues.

(b) A preventive mechanism aimed at reducing future complaints.

(c) A governance tool ensuring transparency and compliance.

(d) Most importantly, translate outcomes from mere grievance disposal to addressing the real concerns of the customer / citizen.

Topics

Acts Income Tax
Next ➔