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March 26, 2026
Guidance Note - Form 43
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Tax residency certificate enables DTAA benefits and is issued by the Assessing Officer on application with supporting documents.
Form 43 is the tax residency certificate issued by the Assessing Officer for the purposes of section 159 of the Income-tax Act, 2025. It certifies that a person is resident in India for a stated period and enables the taxpayer to claim benefits under a Double Taxation Avoidance Agreement. The certificate is issued on an application made in Form 42 with the supporting documents required by the Assessing Officer and is not subject to statutory due dates or an ordinary taxpayer filing process.
March 26, 2026
Form 43 – Frequently Asked Questions
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Tax Residency Certificate issued on request supports residence proof for DTAA benefits and section 159 purposes.
Form 43 is the Tax Residency Certificate issued by the Assessing Officer to certify residence in India for the purposes of section 159 and Double Taxation Avoidance Agreement benefits. It is not filed by the taxpayer; it is issued on request when Form 42 is submitted with the required documents. The certificate is generated through the ITBA and made available on the e-filing portal, and no specific statutory limit is stated on the number of certificates that may be issued in a year for distinct valid periods.
March 26, 2026
Guidance Note - Form 42
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Tax residency certificate application streamlined through Form 42, with electronic filing, document upload, and issuance of Form 43.
Form 42 is the application for a tax residency certificate in India for the purposes of section 159 of the Income-tax Act, 2025 and treaty benefits under a Double Taxation Avoidance Agreement. It is filed electronically by a resident claiming Indian tax residency, with supporting identity, incorporation, and other documents, and may be verified through electronic verification code, Aadhaar OTP, net banking, bank or demat account mechanisms, or digital signature. Processing of the form results in issue of Form 43.
March 26, 2026
FORM 42– Frequently Asked Questions
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Tax Residency Certificate application Form 42 governs online filing, supporting documents, and DTAA benefit access.
Form 42 is the prescribed application for obtaining a Tax Residency Certificate in India for the purposes of claiming benefits under Double Taxation Avoidance Agreements. It is filed online through the e-filing portal, requires a valid PAN, and is not mandatory in every case. The form cannot be edited after submission, though withdrawal may be enabled, and supporting documents such as passport, incorporation records, and proof of stay in India may be required.
March 26, 2026
60 days of oil stocks, 800,000 tonnes of LPG secured, says govt, dismissing shortage reports as misinformation
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Petroleum and LPG supply security remains intact as the government rejects shortage claims and cites ample stock cover.
India's petroleum and LPG supply position is described as secure, with about 60 days of fuel stock cover and no rationing or shortage at retail outlets. The government says crude supplies for the next 60 days have been tied up from multiple international sources, refinery utilisation is above full capacity, and alternative imports have offset disruption linked to tensions around the Strait of Hormuz. It also states that 800,000 tonnes of LPG cargoes have been secured, about one month of LPG supply is arranged, and measures have been taken to prevent hoarding and keep deliveries steady.
March 26, 2026
Guidance Note - Form 41
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DTAA self-declaration for non-residents enables treaty tax benefits through electronic filing and residency verification.
Form 41 is a self-declaration for non-resident taxpayers seeking Double Taxation Avoidance Agreement benefits on income from India. It is filed once in a tax year, requires a valid Tax Residency Certificate and Tax Identification Number, and is submitted electronically through the income-tax e-filing portal. Treaty benefits depend on valid filing, supported by the required documents and electronic verification.
March 26, 2026
Form 41 – Frequently Asked Questions
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DTAA compliance through Form 41 governs non-resident tax relief, online filing, and supporting residency documentation requirements.
Form 41 is a self-declaration under section 159(8) of the Income-tax Act, 2025 for non-resident taxpayers seeking DTAA benefits with India. It is mandatory, filed annually through the Income Tax e-filing portal, and requires a valid Tax Residency Certificate and tax identification number. The form cannot be edited after submission, no proof of tax payment is required, and the DTAA benefit is unavailable without a valid electronically filed form and supporting documents.
March 26, 2026
Guidance Note - Form 40
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Tax deferral for foreign retirement accounts through Form 40 applies to resident Indians with irrevocable relief option.
Form 40 is the prescribed electronic form for a resident Indian to exercise the option under Section 159 of the Income Tax Act, 2025, read with Rule 74, to claim tax relief in respect of income accrued in a foreign retirement account maintained in a notified country. The option is intended to prevent double taxation by deferring taxation in India until withdrawal or redemption of the income in the foreign country. The option may be exercised only once, is irrevocable, and applies to all future years and all specified accounts.
March 26, 2026
DPIIT signs MoU with a digital entertainment company to support startups and strengthen innovation ecosystem
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Startup ecosystem support gains momentum through industry mentorship, innovation challenges, and market access for emerging technology startups.
Startup ecosystem support is being advanced through a Memorandum of Understanding between DPIIT and a digital entertainment company to promote product startups in digital entertainment, online gaming, esports, interactive media, and AI-driven technologies. The collaboration is intended to provide structured industry engagement, mentorship, knowledge exchange, curated opportunities, Proof-of-Concept development, market access, and integration into industry ecosystems wherever feasible. It also contemplates innovation challenges, hackathons, workshops, masterclasses, pilot collaborations, and outreach through Startup India programmes.
March 26, 2026
IICA AND NLUJA, ASSAM LAUNCH LL.M. PROGRAMME IN CORPORATE LAW AND MANAGEMENT
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Corporate law and management programme launches as a two-year residential LL.M. with integrated regulatory and compliance training.
IICA and NLUJAA, Assam have jointly launched a two-year, full-time residential LL.M. programme in Corporate Law and Management. The course is designed to integrate legal education with managerial and compliance-oriented perspectives, and to strengthen professional competencies in corporate law, governance and regulatory frameworks through academic engagement linked to the Ministry of Corporate Affairs. The programme carries 54 credits across four semesters, with the first year at NLUJAA and the second year at the IICA Campus, IMT Manesar.
March 26, 2026
Form 40 – Frequently Asked Questions
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Tax relief for foreign retirement accounts requires valid Form 40 filing, online verification, and timely self-declaration.
Form 40 is the prescribed electronic form for a resident Indian to exercise the option for relief under section 158 of the Income-tax Act, 2025 in respect of income from a retirement benefit account maintained in a notified country. Valid filing within the prescribed due date is mandatory for an admissible claim, the option once exercised applies for the tax year and subsequent years, and the form cannot be edited after submission. The filing requires self-declaration, PAN, online verification, and supporting documents showing the foreign tax treatment and income computations.
March 26, 2026
Guidance Note - Form 39
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Relief for additional salary and lump-sum receipts is streamlined through Form 39's electronic filing and self-computation system.
Form 39 is the prescribed electronic form for claiming relief under section 157(1) of the Income Tax Act, 2025 in cases involving additional salary or family pension received in arrears or in advance, gratuity, retrenchment compensation, commutation of pension, and similar lump-sum receipts. The form is filed on the e-filing portal, supports self-computation of admissible relief under Rule 73, and may be used for TDS purposes. The revised form includes basic details, receipt-specific computation columns, auto-populated summary fields, supporting document requirements, and electronic verification.
March 26, 2026
Form 39 – Frequently Asked Questions
Show AI Summary
Relief under section 157(1) through Form 39 requires electronic filing, PAN, and complete particulars for qualifying lump-sum receipts.
Relief under section 157(1) is claimed through Form 39 by an employee receiving additional salary, family pension, gratuity, retrenchment compensation, commutation of pension, or similar lump-sum receipts that may increase the tax burden in the year of receipt. The form may also be furnished to the tax-deductor for TDS purposes. It must be filed electronically, cannot be filed offline, requires a valid PAN, contains separate sections for different receipts, and cannot be edited after verification and acknowledgment.
March 26, 2026
Guidance Note – Form 38
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Foreign inward remittance certificate supports royalty deduction claims for resident authors and patentees through bank-certified Form 38 filing.
Form 38 is the prescribed certificate for foreign inward remittance and is filed with the return of income to support a royalty deduction claim under the Income-tax Act, 2025. It applies to an individual resident in India who is an author or patentee deriving specified royalty income. The form is certified by the bank manager of the receiving bank, requires supporting remittance and verification documents, and is submitted through details of payer, payee, payment, and electronic verification.
March 26, 2026
Form 38 – Frequently Asked Questions
Show AI Summary
Foreign royalty deduction requires Form 38, bank certification, and proof that remittance reached India within the prescribed period.
Form 38 is the prescribed statement to be filed with the return of income for claiming deduction in respect of foreign inward remittance from royalty income. It applies to an individual resident in India who is an author or patentee, must be certified by the receiving bank manager, and serves to evidence that the foreign royalty was brought into India within the prescribed period. The deduction is subject to the stated monetary ceiling for the financial year.
March 26, 2026
Guidance Note - Form 37
Show AI Summary
Royalty income deduction for patentees hinges on Form 37, electronic filing, patent certification, and foreign remittance conditions.
Form 37 is the prescribed certificate for claiming deduction in respect of royalty income received by a resident individual patentee under the Income Tax Act, 2025. The form requires completion of patentee details, patent particulars, royalty agreement information, royalty received, foreign remittance data, and deduction claimed. Part A is verified by the patentee and Part B is certified by the Controller of Patents. It is filed electronically with supporting documents such as the royalty agreement, bank statement, foreign inward remittance certificate, and RBI approval where applicable.
March 26, 2026
Form 37 – Frequently Asked Questions
Show AI Summary
Patent royalty deduction compliance requires valid Form 37, electronic filing, mandatory PAN, and certification by the Controller of Patents.
Form 37 is the prescribed certificate for a resident individual patentee claiming deduction for royalty income under section 152(5) of the Income-tax Act, 2025. The patentee must self-declare the royalty details in Part B, while the Controller of Patents must certify the patent registration and related particulars in Part C. The form must be filed electronically on the e-filing portal within the prescribed due date, cannot be filed offline, and once validly submitted it cannot be edited. PAN of the patentee is mandatory, no attachment is required, and royalty amounts received in foreign currency must be stated in Indian rupees.
March 26, 2026
Guidance Note - Form 36
Show AI Summary
Royalty income deduction claims require Form 36, with author declaration, publisher certification, and foreign remittance details.
Form 36 is the prescribed electronic certificate for claiming deduction under section 151(5) of the Income-tax Act, 2025 in respect of royalty income or similar consideration received by an author for publication of a book. It requires disclosure of the author, the book, the payer, royalty receipts, foreign remittance details, and the deduction claimed, along with taxpayer declaration and publisher certification. Supporting documents include the author-publisher agreement, royalty statements, bank records, and ISBN or publication proof.
March 26, 2026
Form 36 – Frequently Asked Questions
Show AI Summary
Royalty income deduction certificate requires timely electronic filing by authors, with mandatory PAN, self-declaration, and publisher certification.
Form 36 is the prescribed certificate for claiming deduction under section 151(5) of the Income-tax Act, 2025 by authors of scientific, literary or artistic books who receive royalty income, copyright fees, lump-sum consideration, or similar income. The form must be filed electronically by the author, with self-declaration and publisher certification, on or before the applicable due date, and valid filing is a mandatory condition for an admissible deduction claim. The form cannot be edited after submission, offline filing is not permitted, and the author's PAN and deduction amount claimed are mandatory fields.
March 26, 2026
Guidance Note – Form 35
Show AI Summary
Deduction claims for offshore banking and IFSC units require accountant-certified Form 35 with income, expense and permission details.
Form 35 is the accountant's report to be furnished with the return of income for assessees claiming deduction on income from Offshore Banking Units in Special Economic Zones or units of an International Financial Services Centre. It applies to scheduled or foreign banks having such a unit, and requires verification by a chartered accountant. The form covers basic assessee details, unit particulars, permission documents, prior deduction claims, and income, expense and deduction figures, with e-verification through the chartered accountant's digital signature certificate.

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News and Press Release

PLI Schemes attract over ₹2.16 lakh crore investment, drive ₹20.41 lakh crore production and generate 14.39 lakh jobs

March 27, 2026

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Govt of India launched the ‘Make in India’ initiative on 25th September 2014 to facilitate Investment, foster Innovation, build best in class Infrastructure, and make India a hub for manufacturing, design, and innovation. Presently, Make in India 2.0 focuses on 27 sectors including 15 manufacturing sectors, implemented across various Ministries and Departments and State Governments. The list of sectors under Make in India 2.0 is enclosed at Annexure I.

The other major measures taken up under the “Make in India” initiative include Start- up India, National Single Window System, GIS enabled Land Bank, Foreign Direct Investment (FDI) policy reforms, PM Gati Shakti National Master Plan for integrated planning of multimodal infrastructure, Project Monitoring Group to remove bottlenecks in setting up of major infrastructure projects, setting up of industrial parks, interventions to improve ease of doing business, measures for reduction in compliance burden, rationalization of labor laws, introduction of Goods and Services Tax, policy measures to boost domestic manufacturing through public procurement orders and Phased Manufacturing Programme (PMP).

As part of Make in India initiative, the Production Linked Incentive (PLI) schemes have been  implemented  across  14  key  sectors,  namely  Large-Scale  Electronics Manufacturing (LSEM), IT Hardware, Pharmaceuticals, Bulk Drugs, Medical Devices, Automobiles and Auto Components, Advanced Chemistry Cell Batteries, Solar PV modules, Telecom & Networking Products, Food Processing, Textiles, Specialty Steel, White Goods, Drones & Drone Components by incentivizing incremental production and sales,. The PLI schemes have facilitated fresh investments in the identified sectors and supported the expansion of manufacturing capacities.

The PLI schemes have generated investments exceeding ₹2.16 lakh crore as of 31th December 2025. The investments made under the PLI Schemes have led to incremental production and sales of over ₹20.41 lakh crore, as of 31st December, 2025. Further, the Schemes have resulted in an employment generation of over 14.39 lakh (direct and indirect), and 836 applications have been approved across all 14 sectors covered under the PLI framework.

The impact of PLI Schemes has been significant across various sectors in India. The Schemes have contributed substantially towards strengthening domestic manufacturing capacity, enhancing exports, generating employment and reducing the import dependence across multiple strategic sectors. Details of actual investments, increase in production and employment generation during the last three years is enclosed at Annexure II. The state-wise data under PLI is not centrally maintained.

To support the development of Micro Small and Medium Enterprises (MSMEs), the Central Government supplements the efforts of State/UT Governments through various schemes, programmes and policy initiatives. This inter alia includes various schemes and programmes such as:-

  1. Prime Minister's Employment Generation Programme (PMEGP): PMEGP provides margin money subsidy up to 35%, for setting up of new micro enterprises, in the non-farm sector with project cost of Rs. 50 lakh for Manufacturing and Rs. 20 lakh for Service enterprises.

  2. Credit Guarantee Scheme for Micro and Small Enterprises:The scheme is implemented through Credit Guarantee Fund Trust for Micro and Small Enterprises to provide credit guarantee for loans extended to MSEs. The ceiling for guarantee coverage under the scheme is Rs 10 crore.

  3. Self-Reliant India (SRI) Fund: The fund has been set up to infuse Rs. 50,000 crore as equity funding in MSMEs with a provision of Rs. 10,000 crore from the Government of India and Rs. 40,000 crore through Private Equity/Venture Capital Funds. The Budget 2026-27 has also announced a support of Rs 2000 crore to top up the Self-Reliant India Fund set up in 2021 to continue support to micro enterprises and maintain their access to risk capital.

  4. Under the Digital India programme, the Ministry of Electronics and Information Technology (MeitY) offers services on Digital Infrastructure as a Utility, Governance and Services on Demand, Digital Empowerment of Citizens and MSMEs. Digital payments are also done by MSMEs through different platforms.

To attract investments and provide an enabling eco-system for the overall development across states and sectors the Central Government in collaboration with State Governments implements various schemes such as National Industrial Corridor Development Programme, UNNATI for the North-eastern States, New Central Sector Scheme for Jammu and Kashmir, Startup India.

Under the National Industrial Corridor Development Programme (NICDP), various greenfield industrial areas/region/nodes are being developed across India with the objective of creating manufacturing and investment destinations that are globally competitive. Till date about 20 projects under NICDP have been approved. Moreover, Industrial parks are being developed in partnership with state governments and private sector. There are currently 306 plug-and-play industrial parks in India, and an additional 20 plug-and-play industrial parks and smart cities are being developed by the National Industrial Corridor Development Corporation (NICDC).

The UNNATI (Uttar Poorva Transformative Industrialization) Scheme provides support to industries to enhance regional infrastructure, generate employment, and promote resilience and economic growth in the North-eastern States. Under this scheme, incentives like Capital Investment Incentive (CII), Capital Interest Subvention (CIS) and Manufacturing & Services linked incentive (MSLI) are being provided.

For the Industrial Development of Jammu and Kashmir, the Government of India is implementing the New Central Sector Scheme (NCSS), 2021 with a financial outlay of ₹28,400 Crore for encouraging new investments. Incentives like Capital Investment Incentive (CII), Capital Interest Subvention (CIS), Goods & Services Tax Linked Incentive (GSTLI) and Working Capital Interest Subvention (WCIS) are being provided under this scheme.

Further, the Government has approved the Employment Linked Incentive (ELI) Scheme to support employment generation, enhance employability and social security across all sectors, with special focus on manufacturing sector. With an outlay of Rs 99,446 Crore, the ELI Scheme aims to incentivize the creation of more than 3.5 Crore jobs in the country, over a period of 2 years. Out of these, 1.92 Crore beneficiaries will be first timers, entering the workforce.

The Government has been implementing the PM Internship Scheme with an objective to enhance industry-relevant skills, improve job readiness, and foster professional exposure through structured internships in India’s top-performing companies and institutions. In Round I of the Pilot Project, more than 1.81 lakh candidates have applied and the partner companies made over 82,000 internship offers to over 60,000 candidates. In Round II, more than 2.14 lakh candidates have applied and the partner companies made over 83000 internship offers to over 71000 candidates.

The Government has also been taking up various measures for facilitating and promoting investments across sectors through interventions to improve ease of doing business and policy measures to boost domestic manufacturing, which include National Single Window System, GIS enabled Land Bank, Foreign Direct Investment (FDI) policy reforms, PM Gati Shakti National Master Plan for integrated planning of multimodal infrastructure, Project Monitoring Group to remove bottlenecks in setting up of major infrastructure projects.

This information was given by the Minister of State for Ministry of Commerce & Industry, Shri Jitin Prasada, in Rajya Sabha today.

ANNEXURE-I

ANNEXURES REFERRED TO IN REPLY TO PARTS (a) to (c) OF THE RAJYA SABHA UNSTARRED QUESTION NO. 3880 FOR ANSWER ON 27.03.2026

Manufacturing Sectors

  1. Aerospace and Defence

  2. Automotive and Auto Components

  3. Pharmaceuticals and Medical Devices

  4. Bio-Technology

  5. Capital Goods

  6. Textile and Apparels

  7. Chemicals and Petro chemicals

  8. Electronics System Design and Manufacturing (ESDM)

  9. Leather & Footwear

  10. Food Processing

  11. Gems and Jewellery

  12. Shipping

  13. Railways

  14. Construction

  15. New and Renewable Energy

Service Sectors

  1. Information Technology & Information Technology enabled Services (IT & ITeS)

  2. Tourism and Hospitality Services

  3. Medical Value Travel

  4. Transport and Logistics Services

  5. Accounting and Finance Services

  6. Audio Visual Services

  7. Legal Services

  8. Communication Services

  9. Construction and Related Engineering Services

  10. Environmental Services

  11. Financial Services

  12. Education Services

 

ANNEXURE-II

ANNEXURES REFERRED TO IN REPLY TO PARTS (a) to (c) OF THE RAJYA SABHA UNSTARRED QUESTION NO. 3880 FOR ANSWER ON 27.03.2026

Details of actual investments, increased in production and employment generation under PLI Schemes

Details/Year

Upto FY 2022-23

Upto FY 2023-24

Upto FY 2024- 2025

Upto FY 2025-26*

Investments

0.51 lakh crore

1.18 lakh crore

1.76 lakh crore

2.16 lakh crore

Sales/Production

4.50 lakh crore

9.71 lakh crore

16.50 lakh crore

20.41 lakh crore

Employment

3 lakhs

8 lakhs

12 lakhs

14.39 lakhs

*upto 31st December 2025

Topics

Acts Income Tax
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