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    Guidance Note – Form 118
    Form 118 – Frequently Asked Questions
    GST collections rise 9 pc to over Rs 2 lakh cr in March, third highest in FY26
    The ‘Perfect Colourants’ Growth Story: Driven by Mr. Madan Humad Since 1987 as India’s Leading Masterbatch and Compound Manufacturer & Exporter
    Guidance Note – Form 117
    Form 117 – Frequently Asked Questions
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    Guidance Note – Form 114
    Guidance Note – Form 113
    Form 113 & 114– Frequently Asked Questions
    GST collections grow 8.8 pc to over Rs 2 lakh cr in March
    Japan's Leading Crypto Tax Platform, cryptact, Introduces INR-Priced Plans for India - 30% Off Through July 2026 to Support Tax Filing Season
    PAN Health Wins ‘Excellence in Manufacturing – Healthcare & Pharmaceuticals’ at ET Entrepreneur Awards 2026
    US report flags high import duties, non-tariff barriers in India
    Rupee rises 15 paise to 94.70 against US dollar in early trade
    CBDT signs record 219 Advance Pricing Agreements (APAs) in FY 2025–26, taking total number of APAs beyond milestone of 1000 (i.e. 1034) since incept...
    US lists India’s preference for domestic satellites for DTH, localised internet shutdown as trade barrier
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April 1, 2026
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Deferment of appeal for identical question of law enables later filing after the pending case is finally decided.
Form 118 is prescribed for an application to defer filing an appeal before the High Court or the Income-tax Appellate Tribunal where the relevant case involves an identical question of law already pending in another case. The appellant files the form before the appropriate forum with supporting documents showing the identical question of law and the other pending proceeding. The forum examines whether the statutory conditions for deferment are satisfied, and if accepted, filing of the appeal is deferred until the final decision on the identical question of law in the other case.
April 1, 2026
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Deferred appeal on identical question of law under Form 118 requires assessee acceptance and collegium review.
Form 118 is used by the Income-tax Department to defer filing of an appeal before the Income-tax Appellate Tribunal or the High Court where the relevant case involves an identical question of law already pending in another case before the High Court or the Supreme Court. The procedure depends on collegium consideration and the assessee's acceptance that the questions are identical. The form is filed manually by the Assessing Officer on directions of the Principal Commissioner or Commissioner, cannot be revised after submission, and operates only until the identical legal issue attains finality.
April 1, 2026
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GST collections rise on strong domestic demand, higher import revenues, and recovering momentum after rate rationalisation.
GST collections increased in the reported month, with gross receipts rising on the strength of both domestic supplies and import-related revenues. After adjustment for refunds, net GST revenues also recorded year-on-year growth, indicating continued buoyancy in tax mobilisation. The trend was linked to a recent GST rate rationalisation, including lower rates on many goods and a simplified slab structure, with collections initially dipping after the tax cut before recovering in later months.
April 1, 2026
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Quality-controlled masterbatch manufacturing links R&D, regulatory compliance, and application-specific products across export markets.
Masterbatch and compound manufacturing is presented as a quality-controlled, export-oriented activity built on regulatory compliance, R&D support, and structured batch testing for colour consistency, dispersion, mechanical performance, and stability. The product range is described as application-specific, including laser marking masterbatches, flame retardant masterbatches meeting UL 94 ratings, long glass fibre reinforced compounds for metal replacement, and amber colour masterbatches for pharmaceutical packaging that comply with global regulatory requirements.
April 1, 2026
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Identical question of law declarations under Form 117 keep pending tax disputes aligned with the final higher court decision.
Form 117 is the prescribed declaration by which an assessee states that a question of law in the assessee's pending case is identical to a question already pending before the High Court or Supreme Court in the assessee's own case for another tax year. The form is filed before the Assessing Officer or appellate authority, with supporting documents showing the related pending proceedings. If accepted, the assessee is bound by the final decision on the identical question and the pending order may later be amended to conform to that decision.
April 1, 2026
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Identical question of law declaration streamlines tax disputes by binding pending cases to the higher court's final decision.
Form 117 is the optional declaration used by an assessee to state that a question of law in the relevant case is identical to a question already pending before the High Court or Supreme Court in the assessee's own case for another assessment year. It may be filed before the Assessing Officer or the appellate authority, requires prescribed particulars and supporting documents, and once admitted binds the assessee to the final decision on that identical question while not stopping the pending proceedings.
April 1, 2026
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Cross-objections before the Income-tax Appellate Tribunal require timely filing, supporting documents, and structured grounds under the prescribed form.
Form 116 is the prescribed memorandum of cross-objections to the Income-tax Appellate Tribunal, enabling a respondent in an appeal to challenge any part of the order appealed against without filing a separate appeal. It may be filed by a respondent, including an assessee, deductor, or the Income-tax Department, only after an appeal has been filed and notice of that appeal has been received. The form is to be furnished within thirty days, accompanied by relevant orders and supporting documents, and may include grounds for condonation of delay where applicable.
April 1, 2026
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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
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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
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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
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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
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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
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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.

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Japan's Leading Crypto Tax Platform, cryptact, Introduces INR-Priced Plans for India - 30% Off Through July 2026 to Support Tax Filing Season

April 1, 2026

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New Delhi, Delhi, India – Business Wire India cryptact, Japan's leading crypto tax platform with over 200,000 users since 2017, now serving investors across Japan, Canada, and India, today announced the launch of INR-denominated pricing plans for Indian users, effective April 2026. Since expanding into India in July 2025, cryptact has positioned its initial rollout as a trial period, offering its full suite of crypto tax calculation and portfolio tracking tools completely free of charge. This allowed thousands of Indian investors to experience the platform's capabilities firsthand and simplify their Virtual Digital Asset (VDA) tax reporting. Starting in April 2026, cryptact will fully commit to the Indian market by introducing paid INR-priced plans, enabling the company to deliver higher-quality services and features that better respond to the evolving needs of Indian crypto investors. Why Now India's crypto tax landscape demands precision. With a flat 30% tax on VDA gains, a 1% TDS on transactions, and no provision for loss offsets, accurate record-keeping and timely filing are essential — not optional. As the Income Tax Return filing window for AY 2026–27 runs from April to July, now is the time for crypto investors to get their records in order. For details on India's VDA tax provisions, refer to Section 115BBH of the Income Tax Act, 1961 on the official Income Tax Department website: https://www.incometaxindia.gov.in/w/section-115bbh-1 cryptact automates the complex work of compiling transaction histories across exchanges, DeFi protocols, and wallets, calculating gains and losses under Indian tax rules, and generating Schedule VDA-ready reports — so users can file with confidence and stay fully compliant. New INR Pricing Plans Starting April 2026, cryptact will offer the following plans priced in Indian Rupees: Plan Annual Price (INR) Transactions/Year Basic Rs 699 Up to 300 Prime Rs 2,999 Up to 2,000 Pro Rs 5,999 Up to 10,000 Pro+ Rs 14,999 Up to 50,000 Pro Unlimited Rs 29,999 Unlimited By subscribing to a paid plan, users gain the ability to download the documents required for tax filing. *A Free plan remains available for portfolio tracking and transaction management; however, tax report downloads are not included in the Free plan. Special Launch Offer: 30% Off Through July 2026 To support Indian investors during the critical tax filing season, cryptact is offering a 30% discount on all paid plans through July 31, 2026. No coupon code is needed — the discount is automatically applied at checkout. • Discount: 30% off all paid plans • Valid Until: July 31, 2026 • Applicable To: All paid INR plans • How to Apply: No coupon code required — the discount is automatically applied at checkout CEO's Comment "We are thrilled to bring cryptact's full capabilities to cryptocurrency investors in India. The ITR framework is tightening its regulations to capture crypto income more effectively. We are committed to providing taxpayers with an accurate and efficient calculation solution, bringing peace of mind to their cryptocurrency investments," said Amin Azmoudeh, Co-CEO, pafin Inc. Filing Crypto Taxes — Stay Compliant with Crypto Taxes in India India's tax authorities are increasingly using TDS data and advanced analytics to identify unreported crypto income. Penalties for non-compliance can be severe, including additional tax of up to 60% and potential prosecution. "Whether trading on Indian exchanges, international platforms, or through DeFi protocols, every taxable event must be reported." cryptact makes it easy: • Automatic data import from 137+ exchanges and blockchains via API and wallet connections • Support for 24,000+ cryptocurrencies, including DeFi and NFT transactions • India-specific tax reports, including Schedule VDA-compatible output • Accurate calculations aligned with Section 115BBH and TDS under Section 194S Get Started Today Sign up for free at https://www.cryptact.com/en and take control of crypto tax obligations before the filing deadline. For Existing India Exclusive Plan Users If you are currently subscribed to the India Exclusive Plan, please visit cryptact's Help Center for details on transitioning to the new INR-priced plans: https://support.cryptact.com/hc/en-us/articles/47258802526361#h_01KMPV5MSMXP9GX1AGVD3C8332 About pafin Inc. Services cryptact - Crypto tax calculations: Simplified. – Automatically calculate capital gains, access all the information needed for tax filing, and efficiently manage portfolios — all in one place. Trusted by over 200,000 active users. Website: https://www.cryptact.com/en X account: https://x.com/cryptact_India Company Name: pafin Inc. Date Founded: January 2018 Rep. Directors: Amin Azmoudeh, Co-CEO / Gaku Saito, Co-CEO Location: Frontier Kojimachi 5F, Kojimachi 3-2-4, Chiyoda City, Tokyo, Japan 102-0083 Media Contact Details pafin Inc., [email protected] (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR

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