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    China opens investigations into US trade practices in response to Trump tariff moves
    Herbalife to Expand Its Personalized Nutritional Supplement Capabilities Through Planned Acquisition of Bioniq
    Excise duty cut on petrol, diesel with eye on elections in four states: TMC member Saket Gokhale
    National Council for Cement and Building Materials signs MoU to strengthen skill development and capacity building in construction sector
    Shri Piyush Goyal, Commerce & Industries Minister, leads the Indian delegation for the 14th Ministerial Conference of the WTO starting on March 26, 20...
    Department of Financial Services (DFS) reviews Unsatisfied closed complaints related to Banks and Insurance Companies registered on Centralised Public...
    Japan commits Official Development Assistance (ODA) to India for four projects in sectors of Urban Transport, Health and Agriculture
    Guidance note - Form 55
    Form No. 55 – Frequently Asked Questions
    Guidance note - Form 54
    Govt to review windfall tax imposed on export of diesel and ATF on fortnightly basis: CBIC chief
    Excise duty cut on petrol-diesel due to assembly polls: Congress slams govt
    Form 54 – Frequently Asked Questions
    Guidance note - Form 53
    Excise duty cuts on petrol, diesel will ensure stability, ease burden on citizens: Goa CM
    Govt cuts excise duty on petrol, diesel; slaps windfall tax on fuel exports
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March 27, 2026
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Trade retaliation escalates as China opens investigations into US restrictions on goods, technology, and green energy exports.
China launched two investigations into US trade practices in response to recent tariff-related investigations announced by the United States. One probe concerns US policies restricting Chinese goods and advanced technology exports, while the other concerns barriers affecting Chinese green energy exports. The investigations are expected to last six months, with a possible three-month extension if necessary.
March 27, 2026
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Personalized nutrition acquisition expands Herbalife's data-driven wellness platform through Bioniq assets, contingent on regulatory approvals.
Herbalife announced an agreement to acquire certain assets of Bioniq to expand personalized nutritional supplement capabilities and strengthen a technology-enabled, data-driven wellness platform. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals. The purchase price includes deferred and contingent payments, and Herbalife also obtained a call option relating to Bioniq LAB. The release includes a forward-looking statements disclaimer covering execution, integration, regulatory, market, operational, tax, technology, and compliance risks.
March 27, 2026
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Excise duty on fuel and GST burdens draw parliamentary criticism over pricing, enforcement, and budget priorities.
Excise duty on petrol and diesel was criticised in parliamentary discussion as being politically timed, with a demand for assurance that fuel prices would not rise after voting in four states. The debate also raised whether consumers had been denied the benefit of discounted crude oil purchases, and whether the excise reduction would remain permanent rather than being offset later through higher pump prices. The discussion further addressed GST burdens, public expenditure concerns, and demands for budgetary changes.
March 27, 2026
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Skill development and capacity building in construction sector through structured training and certification programmes.
A Memorandum of Understanding has been signed to strengthen skill development and capacity building in the construction sector through structured training and certification programmes. The collaboration is intended to train civil engineers, ready-mix concrete professionals, contractors, construction workers, and masons across the country, with emphasis on material quality testing, concrete mix proportioning, durability, and sustainable construction practices.
March 27, 2026
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WTO reform through transparent, inclusive member-driven process with development at the core and preserved foundational principles
India's participation in the 14th Ministerial Conference of the WTO centred on support for WTO reform through a transparent, inclusive and member-driven process that keeps development at its core. The position emphasised the need to preserve the WTO's foundational principles and objectives, including non-discrimination, consensus-based decision making and equity. Bilateral discussions also addressed the conference agenda and ways to strengthen trade relations.
March 27, 2026
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Grievance redress governance through CPGRAMS review meetings strengthens complaint resolution, transparency, compliance, and citizen-centric oversight.
DFS conducts periodic CPGRAMS review meetings with financial regulators, banks, insurers, institutions, and complainants to assess grievance resolution through a dip-stick survey at the senior-most level. The exercise reviews unsatisfied closed complaints, addresses systemic and pending issues, and uses citizen feedback to strengthen grievance redress, transparency, compliance, and preventive governance across banking, insurance, pension, and claim-related disputes.
March 27, 2026
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Official Development Assistance supports metro, healthcare and horticulture projects across India through Japan-backed loan agreements.
Japan has committed Official Development Assistance loans to India for four projects in urban transport, health and agriculture across Maharashtra, Karnataka and Punjab. The projects include Bengaluru Metro Rail Phase 3, Mumbai Metro Line 11, strengthening tertiary healthcare and medical education in Maharashtra, and promoting sustainable horticulture in Punjab. The assistance is channelled through loan agreements between the Government of India and JICA.
March 27, 2026
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Mutual Agreement Procedure application under treaty rules enables resident taxpayers to challenge inconsistent foreign tax actions.
Form No. 55 is the prescribed application by a resident assessee in India to invoke the Mutual Agreement Procedure where a foreign tax authority's action or order is considered inconsistent with the applicable Double Taxation Avoidance Agreement. The form is filed within the treaty time limit, usually within three years of first notification, and requires applicant details, foreign authority particulars, reasons for objection, supporting documents, and details of any remedy sought abroad. It may be submitted online or offline, must be e-verified, and cannot be withdrawn.
March 27, 2026
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Double taxation relief through mutual agreement procedure begins with Form No. 55 for resident assessees.
Form No. 55 is an application by a resident assessee in India to the Competent Authority of India when a foreign tax authority's action or order is considered inconsistent with the applicable Double Taxation Avoidance Agreement. It is used to seek resolution under the Mutual Agreement Procedure, generally within the treaty time limit, and may be filed online or through the offline utility with supporting documents and verification by DSC or EVC. The form cannot be withdrawn after filing.
March 27, 2026
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Advance Pricing Agreement renewal form streamlines repeated transfer pricing filings and reduces compliance burden for similar transactions.
Form 54 is a renewal mechanism for an Advance Pricing Agreement application, intended for applicants who have already signed an APA or previously filed a pending APA application involving the same or substantially similar transactions. It reduces duplication and compliance burden, supports continuing or comparable international transactions, and may also cover rollback requests. The form is filed electronically by an eligible person and requires disclosures on the applicant's profile, covered transactions, rollback details, prior filings, and transfer pricing methodology.
March 27, 2026
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Windfall tax on diesel and ATF to be reviewed fortnightly as duties aim to secure domestic fuel supply.
Special additional excise duty and export duties were imposed on diesel and aviation turbine fuel to discourage exports and secure adequate domestic supply. The windfall levy will be reviewed on a fortnightly basis, reflecting a dynamic adjustment mechanism linked to supply conditions and market developments. The duty changes were announced alongside a reduction in excise duty on petrol and diesel for domestic consumption to moderate price pressures and reduce underrecoveries for oil marketing companies.
March 27, 2026
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Excise duty reduction on petrol and diesel triggers fiscal relief for oil companies amid unchanged retail pump prices.
Excise duty on petrol and diesel was reduced by notification with immediate effect, cutting the levy on petrol and removing the duty on diesel. The change was described as a reduction in the special additional excise duty component paid by oil marketing companies, while retail pump prices for consumers were reported to remain unchanged at the time of the announcement. The measure was reported to provide some fiscal relief to oil companies amid higher input costs, though political criticism said it did not translate into direct consumer relief.
March 27, 2026
Show AI Summary
Advance pricing agreement renewal form streamlines repeated filings, reduces compliance burden, and supports rollback requests online.
Form 54 is an optional renewal application for taxpayers who have already entered into, or previously applied for, an advance pricing agreement involving the same or highly similar international transactions with an associated enterprise. It is intended to avoid duplication, reduce compliance burden, and streamline the renewal route, including rollback requests where eligible. The form must be filed online, once a year, with the prescribed documents, proof of payment, and a valid PAN, and it cannot be edited after submission and acknowledgment.
March 27, 2026
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Minimum alternate tax relief form enables recomputation of book profits for APA and secondary adjustment income.
Form 53 is the prescribed electronic application for claiming relief in minimum alternate tax payable where a taxpayer's book profits for a financial year increase because of income relating to past years brought in on account of an Advance Pricing Agreement or a secondary adjustment. Relief is available only where the taxpayer has not previously utilised MAT credit allowed under the Act, and no interest is payable on any refund arising from the relief mechanism. The form requires disclosure of past income and the prescribed computation, and it must be verified by the authorised person.
March 27, 2026
Show AI Summary
Excise duty cuts on petrol and diesel aim to stabilise fuel prices and ease consumer burden.
Excise duty on petrol and diesel has been reduced to moderate domestic fuel prices and shield consumers from the impact of rising global crude oil prices. The special additional excise duty on petrol has been cut from Rs 13 per litre to Rs 3 per litre, while the corresponding duty on diesel has been reduced from Rs 10 per litre to nil. Duties have also been reintroduced on the export of diesel and aviation turbine fuel to support oil marketing companies and mitigate external market volatility.
March 27, 2026
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Excise duty reduction on petrol and diesel eases fuel price pressure while export duties curb domestic supply diversion.
Excise duty on petrol and diesel was reduced to offset the impact of sharply rising global crude prices and to prevent an immediate increase in retail fuel prices. The reduction lowered the special additional excise duty on petrol and removed the corresponding levy on diesel, while the overall incidence of excise on both fuels was recalibrated through the existing duty structure. The measure was presented as a fiscal intervention to ease under-recoveries of oil marketing companies and to protect consumers from supply-driven price pressure.
March 27, 2026
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Minimum alternate tax relief through Form 53 applies to APA and secondary adjustment cases with recomputation of book profits.
Form 53 is the prescribed application for taxpayers affected by secondary adjustments or APA-related adjustments for past years to seek recomputation of book profits and minimum alternate tax liability. It is mandatory where book profit increases in a financial year because income of past year(s) is included pursuant to an Advance Pricing Agreement or a secondary adjustment. The form must be filed by the due date for the return, can be filed once a year, requires no specific supporting documents, cannot be edited after acknowledgment, and cannot be submitted without a valid PAN.
March 27, 2026
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Advance Pricing Agreement compliance reporting requires annual filing of Form 52 with adjustments, critical assumptions, and supporting documentation.
Form 52 is an Annual Compliance Report for taxpayers covered by a unilateral, bilateral, or multilateral Advance Pricing Agreement. It requires annual confirmation that the APA methodology, critical assumptions, and agreed terms and conditions have been complied with, together with tabular computation of any adjustment where actual results differ from the APA. The form also requires disclosure of deviations, supporting documentation, and filing within the prescribed time under Rule 113 of the Income-tax Rules, 2026.
March 27, 2026
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Advance Pricing Agreement compliance reporting under Form 52 requires annual online filing with supporting transfer pricing documentation.
Form 52 is the annual compliance report for Advance Pricing Agreements under the Income-tax Act, 2025. It is mandatory for taxpayers with unilateral, bilateral, or multilateral APAs, and must be filed once a year for each year covered by the agreement. The report is filed online through the Income Tax e-Filing portal, cannot be edited after submission, and must be supported by APA documents explaining transfer pricing methodology, arm's length price computation, and compliance with critical assumptions.
March 27, 2026
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Advance Pricing Agreement application form streamlines transfer pricing disclosures, rollback requests, and electronic filing requirements
Form 51 is the application form for an Advance Pricing Agreement under the Income-tax framework and is used for both forward-looking APA requests and rollback requests where permitted. It consolidates the earlier separate application formats and is filed electronically under the prescribed rules to the competent tax authority. The form requires extensive disclosure on the applicant, associated enterprise, covered transactions, business structure, financials, transfer pricing background, relevant agreements, and transfer pricing methodology.

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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