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    Form 116 – Frequently Asked Questions
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April 1, 2026
Show AI Summary
Cross-objections before the Tribunal must be filed in the prescribed form, with separate grounds, tax effect, and timely notice-based filing.
Form 116 is the prescribed memorandum of cross-objections before the Income-tax Appellate Tribunal in response to an appeal already filed by the opposite party. It is available to a respondent such as an assessee, the Income-tax Department, or a government deductor, and must be filed within 30 days of receipt of notice. The form cannot be filed independently of an existing appeal, and each ground of cross-objection must be numbered, stated separately, and accompanied by the corresponding tax effect.
April 1, 2026
Show AI Summary
Income-tax appeal form governs Tribunal filings, prescribed time limits, supporting documents, and electronic submission requirements.
Form No. 115 is the prescribed appeal form for filing an appeal before the Income-tax Appellate Tribunal against appealable orders of income-tax authorities. It is to be filed by an aggrieved assessee or by the Income-tax Department, within two months from the end of the month in which the order is communicated, and may be accompanied by the relevant orders, grounds, statements, and supporting documents. The form is filed electronically, along with the prescribed fee, and is structured to capture appellant details, respondent details, appeal particulars, disputed amounts, grounds of appeal, and verification.
April 1, 2026
Show AI Summary
Income-tax appeal procedure: Form 115 sets out filing requirements, tax effect details, fee payment, and Tribunal jurisdiction.
Form 115 is the prescribed memorandum of appeal for filing an appeal before the Income-tax Appellate Tribunal against specified orders under the Income-tax Act and Rules. It may be filed by an aggrieved assessee or by the Income-tax Department, and must be presented before the Tribunal having jurisdiction over the case. The form requires particulars of the parties, appeal details, disputed amount, grounds of appeal, fee payment, supporting documents, signature and verification, and it is not revisable after filing.
April 1, 2026
Show AI Summary
Donation certificate form generated after donor reporting and processing of donation particulars under the Income Tax Act, 2025.
Form 114 is an acknowledgement and certificate of donation under the Income Tax Act, 2025, generated for a donor only after due filing and successful processing of Form-113 by a registered non-profit organisation. It records voluntary donations made during the relevant reporting period and contains Part A for donee information and Part B for donor information. The guidance also notes simplification of the form and alignment with the Act, including updated tax-year terminology.
April 1, 2026
Show AI Summary
Donation reporting compliance under Form 113 enables electronic filing, donor acknowledgement, and subsequent income tax claim support.
Form 113 is the electronic statement through which a registered non-profit organisation furnishes particulars of donations received during the tax year. It is filed for the reporting period by 31 May of the following tax year and contains Part A for the organisation's details and Part B for donor and donation particulars. Successful filing and processing support donor claim of the reported donation in a subsequent return of income and generation of Form 114 as the donation certificate or acknowledgement.
April 1, 2026
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Donation reporting and donor certificates require mandatory electronic filing, enabling verified tax claims for voluntary contributions.
Registered non-profit organisations must electronically furnish the donation statement and issue the corresponding donor certificate within the prescribed reporting cycle. FN 113 records particulars of voluntary donations received during the tax year, while FN 114 is the acknowledgement or certificate for the donor. Filing is mandatory, requires a valid PAN, and must be done on the e-filing portal. A correction statement may be filed after submission, and a revised certificate may be issued if needed. The reporting process supports verification of donation claims and enables the donor to claim the relevant exemption or deduction in the return of income.
April 1, 2026
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GST collections rise on stronger domestic and import revenues, with net receipts also showing steady year-on-year growth.
Gross Goods and Services Tax (GST) collections rose by 8.8 per cent in March 2026 to over Rs 2 lakh crore, supported by higher tax realisations from domestic sales and imports. Refund issuance increased by 13.8 per cent to Rs 22,074 crore, and net GST revenues stood at about Rs 1.78 lakh crore after adjustment for refunds. For the full 2025-26 fiscal year, gross GST revenue rose 8.3 per cent to over Rs 22.27 lakh crore, while net revenues increased 7.1 per cent to Rs 19.34 lakh crore.
April 1, 2026
Show AI Summary
Crypto tax compliance tools expand in India with INR pricing, Schedule VDA reporting, and automated filing support.
India's VDA tax compliance environment requires accurate transaction tracking, timely filing, and Schedule VDA-ready reporting, particularly in light of the flat tax on gains, transaction-level TDS, and the absence of loss offsets. A crypto tax platform has introduced INR-denominated paid plans for Indian users after an initial free rollout, while keeping a free portfolio-tracking option available without tax report downloads. The paid plans are presented as a means of enabling users to obtain filing documents, automate transaction import, and generate India-specific tax reports aligned with the Income Tax framework.
April 1, 2026
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Manufacturing excellence drives PAN Health's recognition for scale, quality, and growth in disposable personal hygiene products.
PAN Health received the 'Excellence in Manufacturing - Healthcare & Pharmaceuticals' award at the ET Entrepreneur Awards 2026 for its manufacturing scale, quality focus, and contribution to the disposable personal hygiene sector. The company is presented as a fast-growing Indian manufacturer aligned with the Make in India vision, operating a large facility in Rajkot, Gujarat, and producing multiple categories of hygiene products under brands including Little Angel, Liberty, and Everteen.
April 1, 2026
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Trade barriers and tariff flexibility in India draw fresh US concerns over market access, standards and digital restrictions.
The report says India maintains high applied import duties and wide tariff flexibility, while also using numerous non-tariff barriers such as licensing requirements, Quality Control Orders, customs barriers, testing and certification mandates, and price controls. It further criticises opaque quantitative restrictions, burdensome import licensing for remanufactured goods, discretionary tariff changes, and complex customs exemptions. The report also flags concerns over standards, government procurement, foreign equity limits, digital trade barriers and internet shutdowns affecting market access and commercial operations.
April 1, 2026
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Net open position cap for banks tightened to curb foreign exchange exposure and reinforce currency risk management.
RBI capped the Net Open Position in Indian rupees for banks at USD 100 million, with compliance required by April 10, 2026. The measure requires banks to reduce currency exposure and align positions with the prescribed limit, reflecting regulatory control over foreign exchange exposure and risk management in bank dealings.
April 1, 2026
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Advance Pricing Agreements boost transfer pricing certainty as safe harbour reforms streamline compliance and strengthen business certainty.
CBDT signed a record number of Advance Pricing Agreements with Indian taxpayers in FY 2025-26, including unilateral and bilateral agreements, taking the cumulative APA count beyond the 1,000-mark since inception. The APA programme is described as a mechanism for strengthening transfer pricing certainty, easing compliance, and improving ease of business. Safe Harbour Rules complement the framework by prescribing fixed margins for specified international transactions, while recent reforms consolidate technology service categories, raise the eligibility threshold, and introduce a more automated process.
April 1, 2026
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Domestic satellite preference and internet shutdown controls are flagged as trade barriers affecting satellite services and digital commerce.
Preference for domestic satellites in direct-to-home television services, restrictions on direct foreign contracting, and procedural delays in accessing foreign satellite capacity are described as barriers to foreign trade. The report also urges an open skies satellite policy to expand market access. Localised internet shutdowns and increased takedown requests are said to impede the digital economy, while satellite communication providers face security instructions on interception, blocking, routing, registration, disclosure, geo-fencing, data localisation, and phased sourcing of ground infrastructure.
March 31, 2026
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Disproportionate assets probe leads to recovery of cash, vehicles and property documents from senior officials.
Police action against two senior Bihar government officers for alleged possession of disproportionate assets led to searches at multiple locations and recovery of property documents, cash, luxury items and vehicle records. The Economic Offences Unit registered separate FIRs against Kishanganj SDPO Gautam Kumar and Saharsa DRDA director Vaibhav Kumar after preliminary findings indicated assets allegedly far in excess of their known income, with suspected benami properties and investments traced to family members and associates. Searches yielded documents relating to numerous land parcels, residential property, insurance and financial investments, bank deposits, cash, luxury watches, high-end vehicles and other valuables.
March 31, 2026
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Free trade agreements and apple imports raise concerns over Himachal orchardists' economic interests and market competitiveness.
Himachal Pradesh's apple sector was discussed in the context of free trade agreements with the European Union, the United States, New Zealand and other countries, with concern that lower import duties on apples could affect the economic interests of local growers. A private resolution urged the central government to frame a policy to safeguard orchardists, and the government accepted the resolution. The debate also noted that Himachal apples must improve in quality to compete with imports and that the state lags behind those markets in quality standards.
March 31, 2026
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Sanctions waiver revives Iranian crude trade as a cargo heads to Gujarat amid refinery inventory pressures.
India's crude oil trade may see a renewed shipment of Iranian oil after a sanctions waiver allowed oil "on the water" to be purchased for a limited period. A vessel carrying about 600,000 barrels of Iranian crude has reportedly been observed heading toward Vadinar in Gujarat, marking the first such delivery since imports stopped in 2019 after sanctions tightening. The development is linked to Indian refiners' need for cargoes amid tightening inventories, while the government has stated that any resumption of purchases will depend on techno-commercial feasibility.
March 31, 2026
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Registered non-profit organisation audit reporting in Form 112 standardises income, foreign contribution, and related person disclosures.
Form 112 is the annual audit report required to be furnished electronically under section 348 for a registered non-profit organisation whose total income exceeds the maximum amount not chargeable to income-tax in the relevant tax year. The form is filed through the e-filing portal on or before 30 September of the following year, with a Chartered Accountant certificate and annexure covering audited particulars, income classification, application of income, donations, related person transactions, specified violations, loans, borrowings, and supporting schedules. The guidance also consolidates earlier audit forms into a common Form 112 with different schedules for small and large registered non-profit organisations.
March 31, 2026
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Electronic audit report filing for registered non-profit organisations is mandatory, time-bound, and tied to exemption eligibility under the income-tax law.
Form 112 is the electronic audit report prescribed under section 348 of the Income-tax Act, 2025, for a registered non-profit organisation whose income exceeds the basic non-taxable limit. It must be filed annually through the e-filing portal, one month before the due date for the return of income, and cannot be edited after acknowledgment or filed offline. PAN is mandatory, and supporting documents include registration papers, audited financials, related forms, FCRA records, AIS, and TDS returns.
March 31, 2026
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Research-academia collaboration in cement and construction advances joint innovation, training, and sector-wide capacity building.
Strengthening research-academia collaboration in the cement and construction sector is pursued through a Memorandum of Understanding between the National Council for Cement and Building Materials and Delhi Technological University. The arrangement is directed toward joint research and innovation in cement and concrete technologies, along with training opportunities for students, professionals and other stakeholders. It also supports skill development and capacity building across the sector, with an emphasis on sharing technical knowledge, best practices and industry-relevant expertise.
March 31, 2026
Show AI Summary
E-commerce export and courier trade reforms remove value caps, add Return to Origin processing, and simplify returns handling.
CBIC operationalised reforms for e-commerce exports and courier-based trade to improve ease of doing business, reduce logistics inefficiencies, and strengthen export competitiveness. The reforms remove the value cap on commercial courier export consignments, introduce a Return to Origin mechanism for uncleared or unclaimed imports after 15 days, and simplify re-import of returned or rejected goods through a risk-based approach and system-based processing.

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Guidance Note – Form 107

March 31, 2026

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Form No. 107 – Order for regular registration u/s 332, approval u/s 354, rejection of application and cancellation of registration or approval and rejection of application

Purpose:

Form No. 107 is an order passed by the jurisdictional Principal Commissioner or Commissioner for granting of registration or approval after receipt of application in Form No. 105.

Who Should File:

NA

Frequency & Due Dates:

In all cases, except as provided below, the validity of regular registration/approval is 5 tax years commencing from the tax year in which such application is made and the Principal Commissioner or Commissioner shall be required to pass the order of granting the regular registration or approval (or cancellation of the same) within 6 months from the end of the quarter in which application is made.

Certain exceptions:

(i) when the application is made where the provisional registration/provisional approval of the applicant is due to expire and activities have not commenced or where the where the period for approval of a registered non-profit organisation is due to expire, in this scenario, the validity of the regular registration/approval shall be five tax years following the tax year in which such application is made.

(ii) Where the total income of the Applicant, without giving effect to the provision of Part B of Chapter XVII during each of the two tax years, preceding the current tax year in which the application is made, does not exceed Rs 5 core, and the Applicant has been registered or approved earlier under the Income-tax Act, 1961 or the Act, then the validity of the regular registration shall be 10 tax years.

Structure of Form No. 107:

Part-A (Particulars of the Applicant) Information of Name, PAN and Address of the Applicant

Part B (Details of Registration or Approval granted)

Document Identification Number

Registration/Approval Number (Unique Registration Number)

Section in which registration/approval is being granted

Date of registration/approval

Nature of activity for which registration/approval is being granted

Period of validity for which the Applicant is registered or approved

Tax years for which the Applicant is registered or approval

Part C: Details of rejection of application or Cancellation of registration or approval granted

  • Date of opportunity afforded to the Applicant before rejection or cancellation:
  • Reasons of rejection/cancellation

Part D: Conditions subject to which registration/approval is being granted

(I) Application of Income

a) any income of the registered non-profit organisation shall not be applied, other than for its objects;

b) the registered non-profit organisation shall not apply any part of its total income for private religious purposes (which does not enure for the benefit of the public);

c) the registered non-profit organisation, created or established after the commencement of this Act for charitable purpose, shall not apply any part of its income for the benefit of any particular religious community or caste other than the Scheduled Castes or the Scheduled Tribes or backward classes or women and children;

(II)Conditions in respect of carrying out commercial activities

a) the registered non-profit organisation (other than a registered non-profit organisation carrying out advancement of any other object of general public utility) shall not carry out any commercial activity unless such commercial activity is incidental to the attainment of the objectives of the registered non-profit organisation;

b) the registered non-profit organisation, carrying out advancement of any other object of general public utility, shall not carry out any commercial activity unless such commercial activity is undertaken in the course of actual carrying out of advancement of any object of the general public utility;

c) the aggregate receipts from the commercial activity or activities carried out by the registered non-profit organisation, carrying out advancement of any other object of general public utility, shall not exceed 20% of the total receipts of such registered non-profit organisation of the relevant tax year.

(III) Books of accounts

a) Separate books of account shall be maintained by the registered non-profit organisation in respect of the commercial activity that is incidental to the attainment of the objectives;

b) the registered non-profit organisation, carrying out advancement of any other object of general public utility, shall maintain separate books of accounts for any commercial activity undertaken by it.

(IV) Compliance with the requirements of law and conditions

a) the registered non-profit organisation shall not carry out any activity which is not genuine or is not being carried out in accordance with all or any of the conditions subject to which it was registered;

b) the registered non-profit organisation shall comply with the requirements of any other law.

(V) True and complete disclosure

The form for registration/approval in Form No. 105 shall be duly filled in by providing all the information or documents and no false or incorrect information or documents have been provided.

(VI) Validity of registration

Registration / Approval shall not be valid, it if is cancelled by the Principal Commissioner or Commissioner irrespective of the tax years for which it was granted.

This order is liable to be withdrawn by the Principal Commissioner or Commissioner if it is subsequently found that the activities of the Applicant are not genuine or if they are not carried out in accordance with all or any of the conditions subject to which it is granted, if it is found that the Applicant has obtained the approval by fraud or misrepresentation of facts or the application contains any false or incorrect information or it is found that the assessee has violated any condition provided in the Income-tax Act, 2025.

(VII) Reasons for rejection of application for condonation of delay or registration or approval or cancellation of earlier registration or approval

(VIII) Part F: Details of the Authority passing the order: Name and Designation o the authority passing the order

What are the documents required to file the Form No. 107?

NA

Filing Count:

This Form is not available on e-filing portal, but is on ITBA.

What is the process flow of filing Form No. 107?

NA

Outcome of Processed Form No.107:

On receipt of an application in Form No. 105, the Principal Commissioner or Commissioner, shall pass an order in writing in Form No.107,-

(a) issuing a 16 digit alphanumeric Unique Registration Number (URN) and granting registration or approval;

(b) rejecting the application;

(c) rejecting the application and also cancelling the registration or approval; or

(d) granting registration or approval under for one section code and rejecting the application under the other section code mentioned in the application.

Brief note on broad or qualitative changes proposed:

Key updates include the following

  • Overall Form No. 107 has been streamlined and aligned with the new sections and phrases under the Income-tax Act, 2025.
  • At the top of the Form, it has been specifically provided whether the Form is for approval u/s 332 or 354 or rejection or cancellation of registration or approval and rejection of applications that the applicant can know it upfront.
  • The CIT has been allowed to change the section code which may be different from section code in which application is made.
  • Conditions subject to which registration/approval is granted has been structured.
  • Other changes as per re-application and condonation of delay procedure which has newly introduced have been made.

Challenges and Solutions:

NA

Common Changes made across Forms:

  1. Assessment / Financial / Previous year or years have been replaced with Tax year or years, wherever appearing in the Form/Annexure.
  2. Sections, Clauses and Schedules changes as per the Income-tax Act, 2025.
  3. Currency symbol “Rs.” has been replaced with “₹”.

Topics

Acts Income Tax