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March 28, 2026
Show AI Summary
Exempt income reporting through Form 70 requires electronic filing, verification, and timely compliance for specified fund benefits.
Form 70 is the annual statement for a specified fund to report exempt income and income taxable at concessional rates in relation to the investment division of an offshore banking unit. It must be verified by the Principal Officer or Managing Trustee and filed electronically on the Income-tax e-filing portal within the prescribed due date. Filing a valid form is a mandatory condition for claiming exemption or concessional taxation, and the form cannot be filed offline or edited after valid submission. A valid PAN of the fund and the verifier is required, along with prescribed supporting documents and mandatory attachments.
March 28, 2026
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Concessional taxation for specified funds depends on timely filing of Form 69 with income and unit-holder details.
Form 69 is the prescribed annual statement for a specified fund to report income attributable to units held by non-residents, other than a permanent establishment in India, for concessional taxation. The form is a mandatory compliance requirement and must be filed electronically on or before the due date, with trustee or principal officer verification. It includes fund particulars, registration details, and computations of income from securities and capital gains, supported by constituting documents, registration certificate, financial statements, securities statements, and unit-holder residency details.
March 28, 2026
Show AI Summary
Concessional taxation for specified funds requires electronic Form 69 filing, verification, and timely supporting disclosures.
Form 69 is the prescribed electronic statement for a specified fund claiming concessional taxation on income attributable to units held by a non-resident, other than a permanent establishment in India. A valid filing within the prescribed due date is a mandatory condition for the concessional rate benefit. The form must be verified by the Principal Officer or Managing Trustee, supported by the prescribed annexures and documents, and cannot be edited after submission and acknowledgment.
March 28, 2026
Show AI Summary
Exempt income reporting under Form 68 streamlined for specified funds with electronic filing and updated verification requirements.
Form 68 is the annual statement prescribed for specified funds seeking exemption under Section 11 read with Schedule VI of ITA 2025 in respect of income attributable to units held by a non-resident, other than a permanent establishment in India. It is filed electronically by the Principal Officer on or before the return due date, and captures particulars of the fund, income, exempt income, unit-holder details, and the working of income attributable to non-resident holders. The guidance note also describes the supporting documents and the simplified filing updates, including IFSCA registration, mandatory document upload, and verification in place of declaration.
March 28, 2026
Show AI Summary
Exempt income statement filing for specified funds requires verified online submission within the prescribed due date.
Form 68 is the prescribed electronic statement for claiming exemption of income of specified funds under section 11 read with Schedule VI [Table: Sl. Nos. 1 to 4] of the Income-tax Act, 2025, in respect of income attributable to units held by a non-resident other than a permanent establishment of such non-resident in India. The form must be verified by the Principal Officer or Managing Trustee, filed only through the Income-tax e-filing portal, and furnished on or before the applicable due date. Valid filing requires mandatory PAN details, specified annexures, and satisfaction of the statutory eligibility conditions.
March 28, 2026
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Alternate Minimum Tax reporting gets a structured Form 67 update with CA certification, itemised computation, and digital filing.
Form 67 is a chartered accountant's report for certifying book profit, adjusted total income and Alternate Minimum Tax liability under the updated section 206 framework. It applies to non-corporate taxpayers subject to the AMT regime, is furnished annually with the return of income, and must be digitally signed. The revised form introduces itemised computation fields, category-based AMT rates, and system-enabled validation through the e-filing process.
March 28, 2026
Show AI Summary
Alternate Minimum Tax compliance through Form 67 requires CA certification, electronic filing, and timely submission with the return.
Form 67 is prescribed for furnishing details relating to the computation of Adjusted Total Income and Alternate Minimum Tax (AMT) under section 206(2) of the Income-tax Act, 2025. It applies to persons other than companies, subject to stated exceptions, and is not required for certain specified taxpayers where adjusted total income does not exceed twenty lakh rupees. The form is used to determine AMT on adjusted total income, with tax payable at the higher of the regular tax or AMT, and it incorporates adjustments such as depreciation and other specified items.
March 28, 2026
Show AI Summary
Minimum Alternate Tax reporting through Form 66 demands Chartered Accountant certification, digital filing, and return-linked book profit verification.
Companies liable to Minimum Alternate Tax must furnish Form 66, a Chartered Accountant-certified report on book profit and MAT computation, annually with the income tax return. The form is digitally signed, accepted by the company through the e-filing portal, and linked to the return for processing. It contains company particulars, profit adjustments, transition amount, final MAT computation, auditor certification, and supporting financial and tax documents.
March 27, 2026
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Access to unrelied ED documents denied at pre-cognisance stage in an ongoing money-laundering investigation.
Access to documents seized by the Enforcement Directorate but not relied upon in the chargesheet was refused at the pre-cognisance stage in an ongoing Prevention of Money Laundering Act matter. The court held that the accused had already been supplied with the prosecution complaint and relied-upon documents, and that disclosure of unrelied material was not required before cognisance when the investigation remained pending.
March 27, 2026
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Trade agreement framework balances market access with farmer safeguards, calibrated tariff concessions, and export opportunities across key sectors.
India and the United States have agreed on a framework for an interim trade agreement intended to expand reciprocal and mutually beneficial trade while protecting domestic sensitivities, particularly in agriculture and dairy. The framework contemplates improved market access, rules of origin, action on non-tariff barriers, and cooperation on standards, digital trade, economic security, technology, supply chain resilience, energy and manufacturing. Limited and calibrated tariff concessions have been offered on select agricultural products through quota-based mechanisms, phased concessions and partial duty reductions, with the quotas kept within existing import levels to avoid adverse impact on domestic farmers.
March 27, 2026
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Rupee weakness deepens as higher crude prices, dollar strength and foreign selling weigh on currency and reserves.
The rupee weakened sharply to a historic low against the US dollar amid sustained pressure from higher crude oil prices, a stronger greenback, foreign investor selling, and energy-led inflation concerns. India's foreign exchange reserves also declined during the reporting week, driven by a fall in gold reserves. The government indicated plans to mobilise substantial borrowing through dated securities in the April-September period, while noting a reduction in gross market borrowing after G-Sec switches.
March 27, 2026
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
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
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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
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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
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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
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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
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
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
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.

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Form No. 146 – Frequently Asked Questions

April 3, 2026

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Form No. 146 – Frequently Asked Questions

Form of application under section 393 of the Income-tax Act, 2025

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

Form No. 15CB

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

Form No. 146

Corresponding section of I.T. Act, 1961

195, 271J

Corresponding section of I.T. Act, 2025

393, 463

Corresponding Rule of I.T. Rules, 1962

37BB

Corresponding Rule of I.T. Rules, 2026

220

1. What is Form No. 146?

Ans: Form No.146 is an Accountant's certificate required for filing part C of Form No.145, if remittance is chargeable to tax and exceeds ₹ 5 lakh during the tax year.

2. Who can file Form No. 146?

Ans: A Chartered Accountant (CA) who is registered on the e-Filing portal and who has been assigned Form No.145, Part-C by the person responsible for making the payment to non-resident, is entitled to certify details in Form No.146.

3. Is Form No.146 mandatory?

Ans: Yes, it is mandatory for taxable payments to non-residents (not being a Company) or to a foreign company that exceed ₹5 Lakh in a tax year, and a certificate from the Assessing Officer u/s 395(1) / 395(2) of the Income-tax Act has not been obtained.

4. What is the purpose of certification in Form No. 146?

Ans: Form No.146 is the tax determination certificate where the Chartered Accountant (CA) examines and certifies the remittance with regard to chargeability provisions under sections 5 and 9 of the Income-tax Act along with the provisions of Double Taxation Avoidance Agreements (DTAA), if any.

5. How a taxpayer can assign Form No. 145, Part-C to a Chartered Accountant?

Ans: To file Form No.146, the taxpayer must first add their Chartered Accountant (CA) in the e-Filing portal. This is done by logging in, going to “My Account” → “Add CA,” entering the CA’s membership number, selecting “Form No. 146” as the form name, and clicking submit.

6. What are the prerequisite conditions for an Accountant to file Form No. 146?

Ans: To file Form No.146, the Chartered Accountant should:

i. be registered as a “Chartered Accountant” on the e-Filing portal and

ii. have registered Digital Signature Certificate (DSC) and

iii. have been assigned Form No.145, Part-C by the taxpayer.

7. What is the time limit for filing Form No. 146?

Ans: There is no specific time limit prescribed; however, Form No. 146 has to be filed before the part C of Form No.145 is filed by the taxpayer.

8. How many times can Form No.146 be filed in a year?

Ans: There is no limit for filing of Form No.146 in a year. As Form No. 146 is an event-based form, it is required to be filed before every remittance that satisfies the conditions laid out in Rule No. 220.

9. What documents are required to file Form No. 146?

Ans: Documents required include:

i. Invoices, agreements, or contracts for the remittance.

ii. Details of remitter, remittee, remittance and bank details of the remitter.

iii. Specific certificates depending on the Part: AO certificate for Part B or Accountants’ certificate (Form No.146) for Part C.

iv. Form No. 41 and Tax Residency Certificate (TRC) if claiming DTAA benefits.

10. How can I file Form No. 146?

Ans: Form No. 146 can be filed through the following methods:

  • Online Mode - through e-Filing portal
  • Offline Mode – through Income Tax Department’s Offline Utility Service. The "offline" process refers to preparing the data using the utility while not connected to the internet, and then uploading the generated file to the online portal for final submission.

11. What is the "Offline Utility" and when is it useful?

Ans: The Offline Utility is a downloadable tool from the Income Tax e-Filing portal that allows users to prepare Form No. 146 data without an active internet connection. This is particularly useful for "bulk filing," where a business needs to prepare multiple remittance forms simultaneously and upload them as a single zipped XML file.

12. How do I e-Verify Form No.146?

Ans: Form No.146 can be e-verified through Digital Signature Certificate (DSC) only. The DSC of the CA should be registered on e-filing portal.

13. How do I know that the form has been successfully submitted?

Ans: Once successfully submitted and verified, an acknowledgement number and transaction ID is generated and the accountant receives a confirmation message via email and SMS.

14. Can Form No.146 be edited or modified after submission?

Ans: No, Form No.146 can’t be edited or modified once submitted.

15. Can Form No.146 be withdrawn after submission?

Ans: Yes, Form No.146 can be withdrawn within 7 days from submission date. However, if Form No.146 has been "consumed" by taxpayer in filing Form No.145- Part C, then it cannot be independently withdrawn by the Chartered Accountant unless the taxpayer first withdraws the Form No.145. However, if a taxpayer withdraws Form No. 145- Part C, the corresponding Form No. 146 (Accountant's certificate) linked to it is automatically updated to "Withdrawn" status.

16. What is the outcome of Form No.146?

Ans: After the CA uploads Form No.146, the remitter can view the uploaded Form No.146 under Worklist – ‘For Your Information’ and can file Part C of Form No.145. To prefill the details in Part C of Form No.145, the Acknowledgement Number of e- Verified Form No.146 should be verified. On successful filing of Form No.145 Part C against the particular Form No.146, the status of Form No.146 shall update as “Consumed”. One Form No.146 can be consumed for filing one Form No.145 only.

17. What is UDIN and why is it important?

Ans: Unique Document Identification Number or UDIN is 18-Digits system generated alphanumeric unique number, which is generated online on ICAI portal. UDIN in Form No.146 allows the authenticity of the document to be verified, as it can be validated in real time through an API link with ICAI resulting in transparency, and authenticity of information.

18. What are the consequences of providing inaccurate information in the Form No. 146?

Ans: If an accountant provides inaccurate information in Form No.146, then he is liable for a penalty of upto of ₹10,000 for each such certificate under section 463 of the Income-tax Act, 2025.

19. Why is Form No.146 important?

Ans: Form No.146 serves a regulatory-compliance function, ensuring that a qualified professional has examined and certified the taxability of funds being remitted outside India under the Income-tax Act and international tax treaties (DTAA).

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Acts Income Tax