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News
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March 25, 2026
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Specified business notification for affordable housing projects requires electronic filing, supporting documents, and compliance verification.
Form 18 is the prescribed application for notification of an affordable housing project as a specified business under section 46. It is required to be furnished electronically by an assessee seeking such notification and captures particulars of the assessee, the specified business, the proposed project, and compliance with prescribed conditions. Supporting documents such as the development agreement, sanction letter, and layout approval are attached to assist verification. The application is examined for compliance before notification may be granted.
March 25, 2026
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Affordable housing project notification through Form 18 is mandatory for claiming tax benefits under the specified business regime.
Form 18 is the prescribed application for notification of an affordable housing project as a specified business under section 46 of the Income-tax Act, 2025, and filing it is mandatory for availing the tax benefits available under that provision. The form requires the assessee to furnish particulars of the assessee, the specified business, the proposed project, compliance with prescribed conditions, and other project-related details, including project location, unit-wise area particulars, investment, title to land, development agreements, and a declaration certifying correctness of the information furnished.
March 25, 2026
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Approval for research-linked income-tax benefits through Form No. 17 requires detailed filing, verification, and ongoing annual compliance.
Form No. 17 is the prescribed electronic application for an Indian company and for a research association, university, college or other institution seeking approval under the relevant income-tax framework. It requires verified filing within the prescribed time, detailed particulars of the applicant, research activities, income, expenditure, donations, and supporting documents. The prescribed authority may issue a deficiency notice, and after approval the entity must furnish annual research-related compliance details.
March 25, 2026
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Form No. 17 approval applications require detailed disclosures, electronic filing, and ongoing compliance for research-related tax recognition.
Form No. 17 is the prescribed electronic application for approval under section 45(3)(b) for a company and section 45(4)(b) for a research association, university, college or other institution. The form requires disclosure of incorporation details, key persons, beneficial owners, registrations, research facilities, research projects, income and expenditure, together with prescribed enclosures and declarations. Approval remains subject to maintenance of books, audit and reporting obligations, compliance with conditions of approval, and the possibility of withdrawal if activities cease, become non-genuine, or are not carried out as required.
March 25, 2026
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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
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
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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
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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.

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Customs & Trade

Herbalife to Expand Its Personalized Nutritional Supplement Capabilities Through Planned Acquisition of Bioniq

March 27, 2026

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Transaction accelerates Herbalife and Cristiano Ronaldo's commitment to scale personalized nutrition and wellness globally BENGALURU, India, March 27, 2026 /PRNewswire/ -- Herbalife Ltd., (NYSE: HLF), a premier health and wellness company, community and platform, today announced an agreement to acquire certain assets from Bioniq, a UK-based personalized supplements company focused on making health more accessible and actionable. The transaction advances Herbalife's vision of becoming a technology-enabled, data-driven health and wellness platform. "The future of health and wellness is becoming more personalized and informed by data," said Herbalife Chief Executive Officer, Stephan Gratziani. "By combining Bioniq's personalized supplement technology with Pro2col and the power of our global distributor network, we are expanding our ability to deliver personalized wellness at global scale." Bioniq develops personalized supplement formulas using its patented product personalization engine, an individual's health background, and a proprietary database of biomarkers. Bioniq's personalized supplement formulations are designed for a broad range of individuals, from everyday wellness consumers to elite athletes, including Cristiano Ronaldo. Bioniq will complement Herbalife's prior acquisitions of Pro2col and Link BioSciences by enabling Herbalife to offer a broader range of personalized nutritional supplements across multiple delivery formats. Combining Bioniq's offering with Herbalife's global manufacturing expertise will enable the Company to expand personalized nutrition at scale and speed. "I founded Bioniq in 2019 with a vision to help people optimize their wellbeing through a science-driven approach to nutrition that incorporates biomarker and lifestyle data," said Vadim Fedotov, Founder and President of Bioniq. "I am excited to join Herbalife with its global distributor network and commitment to advancing wellness at scale." As a long-time global nutrition partner of Herbalife and Bioniq shareholder, Cristiano Ronaldo shares Herbalife's vision to accelerate the availability of personalized nutritional supplements at scale through its global distributor network. "Throughout my career, biometrics and personalized nutrition have been central to helping me perform and compete at the highest level. As a longtime Herbalife and Bioniq user, I've experienced firsthand how a tailored approach to nutrition can help optimize performance," said Cristiano Ronaldo. "I'm delighted to see Bioniq's personalized supplements become part of Herbalife's expanding access to nutritional supplements, helping people take a more informed approach to their health, wellness and performance." The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals. The $55 million purchase price will be paid over five years, including an initial payment of $10 million at closing. In addition, the transaction value includes up to $95 million of contingent payments based on future performance. As part of the transaction, Herbalife also obtained a call option to acquire Bioniq LAB, a separate platform focused on small molecules and peptides. The call option provides Herbalife with strategic flexibility to evaluate potential longer-term opportunities in this area in a disciplined and capital-efficient manner. Bioniq's personalized nutritional supplements are expected to be offered later this year through Herbalife independent distributors for customers in select countries in Europe and the United States, with additional markets to follow. For more information, visit www.herbalife.com. About Herbalife Ltd. Herbalife (NYSE: HLF) is a premier health and wellness company, community and platform that has been changing people's lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers science-backed products to consumers in more than 90 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle to live their best life. For more information, visit https://ir.herbalife.com. About Bioniq Bioniq, launched in 2019 in London, UK, is an industry leader in offering personalized supplements based on personal questionnaires and blood test data. Shipping globally and utilizing one of the largest personalized nutrition databases, Bioniq has created unique formulas for hundreds of thousands of users that incorporate components and dosages tailor-made to each individual's nutrient deficiencies. For more information, visit: https://www.bioniq.com/. Forward-Looking Statements This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management, including for future operations, capital expenditures, or share repurchases; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; any statements of belief or expectation; and any statements of assumptions underlying any of the foregoing or other future events. Forward-looking statements may include, among others, the words "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate" or any other similar words. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results or outcomes could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in or implied by our forward-looking statements include the following: • the potential impacts of current global economic conditions, including inflation, unfavorable foreign exchange rate fluctuations, and tariffs or retaliatory tariffs, on us; our Members, customers, and supply chain; and the world economy; • our ability to attract and retain Members; • our relationship with, and our ability to influence the actions of, our Members; • our noncompliance with, or improper action by our employees or Members in violation of, applicable U.S. and foreign laws, rules, and regulations; • adverse publicity associated with our Company or the direct-selling industry, including our ability to comfort the marketplace and regulators regarding our compliance with applicable laws; • changing consumer preferences and demands and evolving industry standards, including with respect to climate change, sustainability, and other environmental, social, and governance matters; • the competitive nature of our business and industry; • legal and regulatory matters, including regulatory actions concerning, or legal challenges to, our products or network marketing program and product liability claims; • the Consent Order entered into with the Federal Trade Commission, or FTC, the effects thereof and any failure to comply therewith; • risks associated with operating internationally and in China; • our ability to execute our growth and other strategic initiatives (such as restructuring efforts, increased market penetration in existing markets, and personalized product and related technology initiatives); • the effectiveness and acceptance of new technology-driven initiatives; • any material disruption to our business caused by natural disasters, other catastrophic events, acts of war or terrorism, including the wars in Ukraine and the Middle East, cybersecurity incidents, pandemics, and/or other acts by third parties; • our ability to adequately source ingredients, packaging materials, and other raw materials and manufacture and distribute our products; • our reliance on our information technology infrastructure, and our ability to successfully develop, deploy, and integrate artificial intelligence into our business; • noncompliance by us or our Members with any privacy, artificial intelligence and data protection laws, rules, or regulations or any security breach involving the misappropriation, loss, or other unauthorized use or disclosure of confidential information; • contractual limitations on our ability to expand or change our direct-selling business model; • the sufficiency of our trademarks and other intellectual property; • product concentration; • our reliance upon, or the loss or departure of any member of, our senior management team; • our ability to integrate and capitalize on acquisition transactions; • restrictions imposed by covenants in the agreements governing our indebtedness; • risks related to our convertible notes; • changes in, and uncertainties relating to, the application of transfer pricing, income tax, customs duties, value added taxes, and other tax laws, treaties, and regulations, or their interpretation; • our incorporation under the laws of the Cayman Islands; and • share price volatility related to, among other things, speculative trading and certain traders shorting our common shares. Additional factors and uncertainties that could cause actual results or outcomes to differ materially from our forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission on February 18, 2026, including under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in our Consolidated Financial Statements and the related Notes included therein. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Forward-looking statements made in this release speak only as of the date hereof. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. Photo: https://mma.prnewswire.com/media/2943996/Herbalife_Bioniq.jpg' alt='Embedded Media' /> Logo: https://mma.prnewswire.com/media/2238437/5887103/Herbalife_Logo.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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