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March 26, 2026
Guidance Note - Form 43
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
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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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Income Tax

Form No.67 - Frequently Asked Questions

March 28, 2026

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Frequently Asked Questions

Form for furnishing of details undersection 206(2) of the Income-tax Act, 2025

Name of form as per I.T. Rules, 1962

29C

Name of form as per I.T. Rules, 2026

67

Corresponding section of I.T. Act, 1961

115 JC, 115JD

Corresponding section of I.T. Act, 2025

206(2)

Corresponding Rule of I.T. Rules, 1962

40BA

Corresponding Rule of I.T. Rules, 2026

138

1. What is Form No. 67 ?

Ans: Form 67 is prescribed for furnishing details related to Computation of Adjusted Total Income and Alternate Minimum Tax (AMT) as per provisions of Section 206(2) of Income Tax Act, 2025

2. What is " Adjusted Total Income "?

Ans: It is the taxable income of a non-company taxpayer adjusted (increased or decreased) by specific items mentioned in Section 206(2).

3. What is Alternate Minimum Tax (AMT)

Ans: Alternate Minimum Tax (AMT) is the Tax to be paid on Adjusted Total Income Computed as per Provisions of Section 206 (2) and at the rates mentioned therein.

4. Who should file Form 67?

Ans : It is to be filed by a person, other than a company with the exceptions as per Section 206(2)(d). Also, it is not to be filed by an individual or a Hindu undivided family or an association of persons or a body of individuals, whether incorporated or not, or an artificial juridical person referred to in section 2(77)(g) of the I.T. Act, 2025, if the adjusted total income of such person does not exceed twenty lakh rupees.

5. Is Form 67 mandatory?

Ans: It is mandatory for all taxpayers other than the company with the exception mentioned above and where "normal" tax payable by a person other than company, is lower than the calculated "Alternate Minimum Tax.

6. What are exempted entities from AMT?

Ans: The exemption clauses are defined in Section 206 e.g. If the taxpayer has opted for the New-Tax Regime, it is exempted from AMT. Similarly, Individual / HUF / AoP / BoI / AJP, are exempted from AMT if the adjusted total income does not exceed twenty lakh rupees.

7. What is the time limit for filing Form 67?

Ans : It must be filed along with the return of income

8. Do I have to calculate AMT, even if the net income is loss?

Ans: Yes.

9. If my income tax as per regular provisions is more than the AMT, do I have to pay AMT?

Ans: No, the taxpayer has to pay the higher of the two.

10. Can I file Form 67 myself (DIY)?

Ans: Technically, you can log in and upload it, but the form requires a certificate from a Chartered Accountant (CA). You cannot generate this certificate yourself.

11. Why do I need a CA?

Ans: Section 206 mandates that an "Accountant" (CA) must certify that the computation of Book Profit or Adjusted Total Income is correct.

12. What happens if I file my ITR but forget Form 67?

Ans: Your return will be considered "defective" or the tax officer will process it without giving you the benefit of AMT credits.

13. Is the form filed online or offline?

Ans: It is filed electronically on the Income Tax Portal.

14. Is there a fee for filing Form 67?

Ans: There is no government fee for the form itself, but your CA will charge a professional fee for certification.

15. How is AMT calculated under Section 206?

Ans: The Form 67 has been aligned with the provisions of the Sub-section 2 of the Section 206. Taxpayer needs to fill the respective fields and the AMT will be calculated.

16. Does Section 206 allow for depreciation adjustment?

Ans: Yes, depreciation is one of the main adjustments. The amount of depreciation is adjusted to reach Adjusted Total Income.

17. Does Section 206 consider Ind-AS (Indian Accounting Standards)?

Ans: Yes, Section 206 has specific subsections dealing with "Transition Amounts" for companies following Ind-AS to ensure fair calculation.

18. What happens if the information in Form 67 is wrong?

Ans: You may receive a notice for "Defective Return" or a demand notice under Section 270(1) of the I.T. Act, 2025 (S. 143(1) of the I.T. Act, 1961) asking for higher tax. You will have to revise the form.

19. Can I revise Form 67?

Ans: Yes, if you discover an error, your CA can file a revised form, and you must then file a Revised ITR.

20. What is the penalty for not obtaining the CA report?

Ans: The return will be defective.

21. Does Section 206 apply if I opt for the "New Tax Regime" as per S. 202, S. 203 and S. 204 of the I.T. Act, 2025 (S. 115BAC, S. 115BAD, 115BAE of the I.T. Act, 1961)?

Ans: No, it is exempted.

22. Can I appeal against a Section 206 addition?

Ans: Yes, if the tax officer calculates your Adjusted Total Income incorrectly during scrutiny, you can file an appeal before the Commissioner (Appeals).

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