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 27, 2026
Centre plans to borrow Rs 8.2 lakh cr from market in first half of FY27 to fund fiscal deficit
Show AI Summary
Government borrowing calendar set for dated securities, green bonds, retail bidding and flexible issuance management.
The Centre plans to raise gross market borrowings through dated securities in the first half of FY 2026-27 to finance the fiscal deficit, with borrowing spread across weekly auctions and multiple maturities. The borrowing calendar includes sovereign green bonds, non-competitive bidding for specified retail investors, and flexibility to modify issuance amounts, maturities, instruments and timing in consultation with the Reserve Bank of India, depending on funding needs and market conditions.
March 27, 2026
Goyal holds talks with USTR Jamieson Greer; discusses next steps in India-US BTA negotiations
Show AI Summary
Bilateral trade agreement negotiations advance as India and the US discuss WTO issues, tariffs, and next steps in talks.
India and the United States continued discussions on the next steps in the bilateral trade agreement negotiations, covering the WTO agenda, the India-US BTA, and ways to deepen bilateral economic cooperation and trade ties. A framework for the first phase has been finalised, but the legal text remains unsigned, and the chief negotiators' meeting was postponed because of changes in the US tariff architecture and the need to await the revised global tariff framework before the interim trade agreement is signed.
March 27, 2026
Lockdown not even under discussion, no situation to impose it: Govt
Show AI Summary
Energy supply stability assured as government rules out lockdown, citing adequate fuel stocks and anti-hoarding measures.
The government ruled out any lockdown and said India has adequate stocks of petrol, diesel and LPG, with fuel retail operations continuing normally despite energy supply disruptions linked to the war in West Asia. Officials said rumours have caused panic buying, while alternative sourcing, higher domestic LPG production, excise duty cuts, export levies, export diversion directions and intensified anti-hoarding enforcement are being used to stabilise supplies and protect consumers.
March 27, 2026
Andhra CM welcomes Centre's excise duty cut on fuel, lauds PM Modi
Show AI Summary
Excise duty cut on petrol and diesel aims to shield consumers from global fuel price volatility.
The Union Government reduced excise duty on petrol and diesel by Rs 10 per litre to prevent a retail price increase caused by rising global oil prices. The move was described as a people-centric measure intended to shield consumers from fuel price volatility and wider shortages linked to global instability.
March 27, 2026
States'€™ borrowing costs harden to over 8 pc tracking uptick in G-sec yields amid Middle East conflict
Show AI Summary
State borrowing costs harden as bond yields rise, forcing partial bids and higher returns in volatile fixed-income markets.
States' borrowing costs hardened in a State Development Loan auction as cut-off yields rose across long-term maturities, with several securities moving above 8 per cent. The increase tracked a broader rise in government bond yields amid global oil price pressures, inflationary concerns and weakness in the rupee, causing some states to accept only partial borrowing amounts or reject bids. The report notes that higher bond yields may keep borrowing costs elevated and increase volatility in fixed-income markets.
March 27, 2026
Bank loan 'fraud': ED files chargesheet against ex-RCOM executive Punit Garg
Show AI Summary
Money laundering proceedings over bank loan fraud allegations include diversion of proceeds through offshore entities and property transactions.
Money laundering proceedings under the Prevention of Money Laundering Act concern a former senior executive of Reliance Communications and another accused in an alleged bank loan fraud case. The allegations include concealment, layering and diversion of proceeds of crime through foreign subsidiaries and offshore entities, purchase and sale of a Manhattan condominium during the insolvency process, and routing of sale proceeds through an asserted sham investment arrangement. The allegations also include personal diversion of funds for overseas education-related payments.
March 27, 2026
Form No. 66 – Frequently Asked Questions
Show AI Summary
Minimum alternate tax and book profit reporting through Form 66, with CA certification, exemptions, and MAT credit rules.
Form No. 66 is the prescribed electronic statement for furnishing details of book profit and minimum alternate tax under section 206(1) of the Income-tax Act, 2025. It applies to companies where normal tax is lower than the minimum tax, must be filed along with the return of income, and requires certification by an Accountant/Chartered Accountant. The FAQ explains book-profit adjustments, MAT credit, exemptions, Ind-AS transition amounts, and the consequences of incorrect or missing filing.
March 27, 2026
Guidance note - Form 65
Show AI Summary
Patent box regime filing through Form 65 enables eligible resident assessees to opt for concessional royalty taxation.
Form 65 is the prescribed application for an eligible resident assessee to exercise the option under Section 194(1) of the Income-tax Act, 2025 for royalty income from a patent developed and registered in India. It relates to the concessional 10% tax rate under the patent box regime and requires the assessee to forgo deductions or allowances against such royalty income. The form is filed electronically by the return-filing due date, with patent details, royalty particulars, expenditure information and verification requirements.
March 27, 2026
FORM 65 - Frequently Asked Questions (FAQs)
Show AI Summary
Concessional royalty taxation under Form 65 requires resident eligibility, electronic filing, and a five-year lock-in period.
Form 65 is the prescribed income-tax application by which a resident assessee opts for concessional taxation on royalty income from a patent developed and registered in India. The form enables taxation at a flat 10% rate on gross royalty, with surcharge and cess, subject to conditions including denial of deductions, Indian patent registration, and development in India. The option must be filed electronically by the return due date, cannot be revised or withdrawn for that year, and carries a five-tax-year lock-in.
March 27, 2026
Guidance note - Form 61
Show AI Summary
Tax deduction verification through Form 61 requires e-filing, irrevocable authorisation, and proof of transmission to the financial institution.
Form No. 61 is an irrevocable authorisation enabling tax authorities to obtain information and records from a financial institution in a Notified Jurisdictional Area for verifying deduction claims on payments made to that institution. It is filed once for the tax year before the income-tax return due date, through the e-filing portal, with details of the institution, payment, supporting documents, and proof that the first copy has been deposited or transmitted. The assessee must send the first copy to the institution and submit the second copy with proof to the Assessing Officer.
March 27, 2026
Form No. 61 – Frequently Asked Questions
Show AI Summary
Notified jurisdictional area disclosures: Form 61 authorisation enables tax authorities to access financial records for deduction verification.
Form No. 61 is an irrevocable authorisation enabling the Central Board of Direct Taxes and designated income-tax authorities to obtain information and records from a financial institution located in a notified jurisdictional area for the purpose of claiming deduction in respect of payments made to such institution. The form must be filed once for the relevant tax year before the due date for filing the income-tax return, through the e-filing portal, and verified by DSC or EVC as applicable. The assessee must submit the first copy to the financial institution and the second copy with proof to the Assessing Officer, while waiving privacy, data protection and banking secrecy protections.
March 27, 2026
Excise duty cut on petrol, diesel; hike in export duties to cost exchequer Rs 5,500 cr in fortnight
Show AI Summary
Excise duty reduction and export duty hike reshape fuel pricing to ease under-recoveries and protect domestic supply.
Excise duty on petrol and diesel has been reduced, while export duty on diesel and aviation turbine fuel has been increased, to address under-recoveries of oil marketing companies, support domestic fuel availability, and limit consumer price pressure amid volatility in global oil markets. The revised rates are stated to operate on a fortnightly review basis, with the policy rationale emphasising energy security, domestic supply prioritisation, and response to disrupted international crude and product markets.
March 27, 2026
Guidance note - Form 60
Show AI Summary
International group reporting designation requires Form No. 60 for appointing the entity that files the Country-by-Country Report.
Form No. 60 is the intimation to be furnished on behalf of an international group having multiple constituent entities resident in India for designating a single constituent entity to file the Country-by-Country Report in Form No. 59. The form requires particulars of the international group, the parent entity, the designated constituent entity, and the other constituent entities resident in India, including name, address and PAN details. It is to be filed as an e-form through the income tax e-filing portal, at least 30 days before the due date for Form No. 59, followed by preview and e-verification before submission.
March 27, 2026
Guidance note - Form 59
Show AI Summary
Country-by-Country reporting compliance for international groups, covering filing triggers, due dates, and e-form submission requirements.
Form No. 59 is the prescribed e-form for filing the Country-by-Country Report of an international group. It applies to a resident parent entity or alternate reporting entity where the consolidated group revenue exceeds the prescribed threshold, and in specified cases to a resident constituent entity where the parent is not required to report, there is no exchange arrangement with India, or a notified systemic failure exists. The report is ordinarily due within twelve months from the end of the reporting accounting year, with a shorter period in cases involving notified systemic failure. The form captures entity particulars, tax jurisdiction details, constituent entity data, and additional information.
March 27, 2026
Guidance note - Form 58
Show AI Summary
Country-by-country reporting intimation by Indian constituent entities sets out the reporting entity and filing location for the group report.
Form No. 58 is an intimation by every constituent entity resident in India, where the parent entity of the international group is not resident in India, regarding whether it is an alternate reporting entity and, if not, the details of the parent entity or alternate reporting entity and their country or territory of residence. The form informs the income-tax authorities where the Country-by-Country Report will be filed and must be submitted two months before the due date for furnishing that report.
March 27, 2026
India's forex reserves drop USD 11.41 billion to USD 698.346 billion: RBI data
Show AI Summary
Foreign exchange reserves decline as gold holdings fall, while foreign currency assets rise in RBI data.
India's foreign exchange reserves declined during the week ended March 20, 2026, falling by USD 11.413 billion to USD 698.346 billion, according to RBI data. The drop was attributed mainly to a sharp reduction in gold reserves, even as foreign currency assets increased during the reporting week. The RBI data further showed that the value of gold reserves decreased significantly, Special Drawing Rights were lower, and India's reserve position with the IMF increased marginally.
March 27, 2026
HIGHLIGHTS
Show AI Summary
Live-in relationship and judicial vacancies draw legal attention as high court and chief justice address key issues.
The Allahabad High Court stated that a married man living in a consensual live-in relationship with an adult woman does not amount to a criminal offence under law. The Bombay High Court dismissed a petition seeking a CBI probe against Reliance Industries Limited and Mukesh Ambani over alleged unlawful gas extraction. Separately, the Chief Justice of India urged high courts to expedite filling judicial vacancies, with special focus on elevating women judges.
March 27, 2026
Guidance note - Form 57
Show AI Summary
Designated constituent entity intimation under income tax rules governs filing of Form 57 for international group reporting
Form No. 57 is an intimation by a designated constituent entity of an international group for the purposes of section 171(4), to be furnished under Rule 123 of the Income-tax Rules, 2026 when more than one constituent entity is required to file Form No. 56. The designated entity may file the form if the group has appointed it for compliance, and the intimation must be made at least 30 days before the due date for Form No. 56. The form captures particulars of the designated entity, the international group, the parent entity and the accounting year, and is filed online through the e-filing portal.
March 27, 2026
Guidance note - Form 56
Show AI Summary
Transfer pricing master file reporting requires constituent entities to disclose group details, thresholds, and supporting information electronically.
Form No. 56 (Master File) is an income-tax reporting document prescribed under Rule 123 of the Income-tax Rules, 2026 and section 171 of the Income-tax Act, 2025 for transfer pricing transparency. It applies to a constituent entity of an international group where the consolidated group revenue exceeds INR 500 crore and the aggregate value of international transactions exceeds INR 50 crore, or international transactions involving intangible property exceed INR 10 crore. Part A must still be furnished even if those conditions are not met. The form is filed by the due date for the return of income.
March 27, 2026
PLI Scheme disburses ₹15,554 crore in electronics and ₹2,377.56 crore in automobile sector incentives
Show AI Summary
Production Linked Incentive schemes strengthen domestic manufacturing, expand exports, and build supply chain resilience across key sectors.
Production Linked Incentive schemes across 14 sectors are being implemented to strengthen domestic manufacturing, attract investment, promote exports and generate employment. As of 31 December 2025, the schemes had cumulatively attracted investments of over Rs.2.16 lakh crore, generated production and sales of over Rs.20.41 lakh crore, supported exports of over Rs.8.3 lakh crore and created employment for more than 14.39 lakh persons across the covered sectors. The electronics and automobiles sectors have received incentive disbursements and reported incremental production through participating companies. The schemes are said to expand domestic manufacturing capacity, reduce import dependence and improve supply chain resilience. The policy framework is supplemented by initiatives for semiconductor development, electronics component manufacturing, logistics efficiency, rare earth magnet manufacture and critical mineral supply security.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Home › news › Income Tax › 2026 › March, 2026 › This
Back

All News

whatsapp Join Channel
Showing Results for : Reset Filters
Income Tax

Form 75 – Frequently Asked Questions

March 28, 2026

Contents
Forms
Summary
Note

Note

-

Bookmark

Print

Print

Print Options

Form 75 – Frequently Asked Questions

Statement of income paid or credited by Venture Capital Company or Venture Capital Fund to be provided to the person who is liable to tax under section 222

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

The Form was not Notified

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

75

Corresponding section of I.T. Act, 1961

115U

Corresponding section of I.T. Act, 2025

222

Corresponding Rule of I.T. Rules, 1962

N.A.

Corresponding Rule of I.T. Rules, 2026

145

1. What is Form 75?

Ans: Form 75 is a statement of income paid or credited to a person who is liable to tax u/s 222 of the Act. The said statement is to be provided by the Venture Capital Fund or Venture Capital Company to such person.

2: Who should file Form 75?

Ans: Form 75 is not to be filed separately. It is a child form of Form No. 74, which is the parent Form. The Venture Capital Fund or Venture Capital Company has to generate and download this form after filing Form No. 74. The form is to be generated for each investor by the Venture Capital Fund or Company and then it is to be furnished to each investor.

3: What is the time limit for filing Form 75?

Ans: Form 75 must be provided to the person liable to tax by the Venture Capital Company or Fund by 30th June of the financial year to immediately following the tax year in which income was paid or credited by the Venture Capital Fund or Company.

4: Can Form 75 be filled up offline?

Ans: No. Form 75 is automatically generated from the data filed in Form 74 through the e-filing portal specified by the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems). No separate documents need to be attached to Form 75 as it is a statement derived from the parent Form 74.

5: What documents are required to file Form 75?

Ans: This Form is generated from the parent Form 74 so no separate document is required.

6: Why is Form 75 important?

Ans: Generating and providing Form 75 to the persons liable to tax within the due date is a mandatory compliance requirement of the Venture Capital Company or Fund. In case of persons liable to tax, who are investors, the form is important because-

  • Income reported in Form 75 is taxable in the hands of investors as if they had made direct investments in the Venture Capital Undertaking (pass-through status).
  • Investors receive income classification (capital gains, dividend, other income) which they must report in their respective Income Tax Returns (ITR-2, ITR-3, ITR-5, ITR-6, or ITR-7) under Schedule PTI (Pass Through Income).
  • The income retains its character and tax treatment in the hands of the investor as per Section 222 of the Income-tax Act, 2025.

Topics

Acts Income Tax
Next ➔