Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
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
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. 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
    HDFC Life Reaffirms Strong Corporate Governance Track Record with IiAS Leadership Recognition in Corporate Governance Scorecard for 2025
    CCI approves additional shareholding acquisition in Baby Memorial Hospital (BMH) by Bentley Asia; and BMH’s subsequent acquisition of certain shareh...
    Agriculture Insurance Company of India Ltd. (AIC) Launches Krishi Sakhi Initiative to empower women farmers
    Haryana CM rebuts opposition's claims on online shopping, says no distress among small traders
    Direct tax kitty rises 7.1 pc to Rs 22.8 lakh cr till March 17 this fiscal
    India-US trade deal will dent income of farmers, adversely impact Indian economy: Opposition MPs in Lok Sabha
    Japan's leader heads to Washington for visit complicated by Iran war fallout
    SC rejects UP power body's claims in Essar Power MP insolvency dispute
    Setco Expands into Brake Disc Segment with Global Multi-Brand Portfolio
    RNFI Enables Cardless Cash Withdrawals via UPI QR Across India with Jio Payments Bank
    Cabinet approves construction of 4-Lane Access-Controlled National Highway-927 from Barabanki to Bahraich (101.515 km) in Uttar Pradesh on Hybrid Annu...
    Cabinet approves MSP funding of Rs.1,718.56 crore to CCI for cotton seasons 2023-24 for direct support to cotton farmers
    Cabinet approves a New Era of Plug-and-Play Industrial Development through Bharat Audyogik Vikas Yojna (BHAVYA)
    SBI-led secured lenders move SC for claims from Rs 5,100 cr deposited by Sterling Biotech
    Trump's tariffs hurting American manufacturers instead of helping them
    Ministry of Statistics and Programme Implementation has undertaken several technological initiatives to modernise “National Sample Survey”
    NICDC Organises Stakeholder Consultation on Revitalising Export-Oriented Industrial Clusters
    Indian vessel 'Jag Laadki' carrying over 80,000 MT crude oil reaches Gujarat's Mundra Port
    Why Frost-Free Inverter Refrigerators Are Worth the Upgrade This Gudi Padwa
    Japan records trade surplus as export growth balances out weak China demand
❯❯
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:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
March 19, 2026
Show AI Summary
Corporate governance recognition: HDFC Life placed in Leadership category under national scorecard, reaffirming transparency and accountability.
Recognition under the Indian Corporate Governance Scorecard placed HDFC Life in the Leadership category for scoring 75 and above as of 31 December 2025, reflecting the company's commitment to transparency, accountability, and governance practices treated as an organisational value rather than mere compliance within a widely used benchmarking framework.
March 19, 2026
Show AI Summary
Merger approval: competition regulator clears Bentley's stake increase in Baby Memorial and BMH's secondary purchase in Unimed.
The Competition Commission approved a two-step Proposed Combination: Bentley Asia will acquire additional shareholding in Baby Memorial Hospital Limited, and BMH will thereafter acquire certain shareholding in Unimed Health Care Private Limited by way of a secondary purchase; the parties include a Singapore investor (Bentley), a multi-specialty hospital network (BMH), and Unimed operating Star Hospitals, with a detailed order to follow.
March 19, 2026
Show AI Summary
Women farmer empowerment via month-wise awareness, workshops and crop insurance outreach under a corporate Krishi Sakhi initiative.
AIC launched the Krishi Sakhi Initiative to promote women farmer empowerment and inclusive participation in agriculture and crop insurance through sustained month-wise activities. Operative measures include an introductory awareness video, a staff Walkathon to symbolize support, ground-level workshops and awareness programs on crop insurance benefits, publication of related articles and interviews, and targeted sanitation and hygiene campaigns in rural areas to recognize and engage women farmers.
March 19, 2026
Show AI Summary
GST Council authority over tax rates affirmed; no unilateral state proposal to impose heavy tax on online shopping.
The Chief Minister denied evidence of small-trader distress from online shopping, emphasised digital payments' strengthening effect on small businesses, cited interest-free loans to street vendors during COVID-19 as support measures, and stated that proposals to change tax rates on online shopping are initiated, examined and recommended by the GST Council under the GST framework.
March 18, 2026
Show AI Summary
Direct tax collections rise driven by stronger corporate tax receipts and lower refund outflows, boosting fiscal cash flows.
Net direct tax receipts increased 7.1 per cent to Rs 22.8 lakh crore till March 17, driven by higher corporate tax mop up and reduced refund outflows; corporate tax rose about 13 per cent while non corporate receipts rose about 3 per cent. Advance tax rose 6.4 per cent in four tranches despite a marginal decline in non corporate advance tax, and gross direct tax collection also increased against the government's Revised Estimates target.
March 18, 2026
Show AI Summary
Trade deal impact: tariff asymmetry threatens farmer incomes, prompting calls for MSP guarantee and stronger crop protections.
India-US trade negotiations are depicted as posing asymmetric market access that would expose Indian farmers to tariff-free competition from US agricultural exports while domestic producers face duties, threatening incomes and sectoral competitiveness. Parliamentary interlocutors advocated compensatory domestic measures including a Minimum Support Price guarantee, reorientation of fertiliser subsidies to end-users, reform of the crop insurance scheme to favour farmers, targeted debt relief, and import curbs on selected agricultural commodities to protect farmer livelihoods and national food security.
March 18, 2026
Show AI Summary
Constitutional constraints on military deployment limit Japan's warship commitments, shaping talks on security and defence cooperation.
Japan declined to commit warships in response to US requests, citing constitutional constraints, legal questions over the US action, and public opposition; limited non combat missions such as survey, intelligence, or minesweeping are possible only after a ceasefire and with domestic legal authorization. Concurrently, Tokyo is revising defence policy to accelerate long range missile deployment, consider joining a US multi layer missile defence system, and lift the lethal arms exports ban to bolster defence industry cooperation, while pursuing energy and rare earth investment projects to diversify supplies.
March 18, 2026
Show AI Summary
Resolution plan finality prevents reopening admitted contingent claims after implementation, preserving creditor priority and CIRP finality.
The dispute concerns admission of pre insolvency operational claims as contingent claims admitted nominally by the resolution professional while an approved resolution plan provided no payment to operational creditors due to secured financial creditor priority. Appellate tribunals treated the RP's role as administrative and accepted nominal admission where disputes are pending, and the court stressed that the implemented resolution plan is final and reopening settled claims would disrupt the insolvency process.
March 18, 2026
Show AI Summary
Brake disc expansion: OEM-grade multi-brand range launched to serve passenger, LCV and MHCV markets and exports.
Setco Auto Systems has introduced a Brake Disc range of over 200 part numbers for 15+ vehicle brands, engineered to meet OEM specifications in ventilated and solid configurations with precision fitment, instant bedding, thermal fade resistance and materials resisting wear, warping and corrosion. The launch targets both OEM and aftermarket channels and leverages Setco's manufacturing capacity, distribution network and export relationships to capitalise on a market shift toward disc brakes.
March 18, 2026
Show AI Summary
Cardless cash withdrawals via UPI QR enable instant assisted cash access through merchant business correspondent networks nationwide.
RNFI Services Limited, via its Relipay platform in partnership with Jio Payments Bank, launched a nationwide UPI QR-based cash withdrawal facility enabling cardless assisted cash disbursements at authorised retail outlets within RNFI's Business Correspondent network; customers scan a QR code, enter the withdrawal amount and authenticate with their UPI PIN, after which the merchant dispenses cash, removing the need for ATM cards or biometric authentication and operating across UPI-enabled applications.
March 18, 2026
Show AI Summary
Hybrid Annuity Mode highway project approved to deliver access controlled 4 lane connectivity and cross border trade link.
Approval for a 101.515 km 4 lane access controlled Barabanki-Bahraich highway under Hybrid Annuity Mode includes continuous service roads and bypasses to address geometric deficiencies, reduce travel time and improve safety and efficiency; it links national and state highways, airports, railway stations and the Rupaidiha Land Port to enhance multi modal integration and establish a cross border trade corridor to Nepal while supporting regional development and generating substantial employment.
March 18, 2026
Show AI Summary
Minimum Support Price funding secures direct price support to cotton farmers through CCI procurement when markets fall below MSP.
The Cabinet approved funding for the Minimum Support Price mechanism for the 2023-24 cotton season, allocating resources to the Cotton Corporation of India (CCI) to provide direct price support by procuring Fair Average Quality cotton without quantitative ceilings whenever market prices fall below MSP. CCI is designated the central nodal agency and will deploy its procurement network across 11 major cotton-growing States, supported by information dissemination, the Bale Identification and Traceability System (BITS) and the "Cott-Ally" mobile application to enhance transparency and outreach.
March 18, 2026
Show AI Summary
Industrial infrastructure development enabling plug-and-play parks with streamlined approvals and funding to boost manufacturing and jobs.
The Cabinet approved a centrally funded programme to create plug-and-play industrial parks implemented with States, NICDC and private partners, prioritising streamlined single-window approvals and investor-friendly reforms; funding covers core, value-added and social infrastructure with additional support for external connectivity, project selection by challenge mode, and park design requirements emphasizing multimodal connectivity, underground utility corridors, green energy and cluster-based development to drive investment and employment.
March 18, 2026
Show AI Summary
Distribution of court-deposited settlement funds under lenders' agreed formula seeking approval for proportionate payouts to secured banks.
The SBI led consortium seeks court authorisation to disburse funds deposited in the registry pursuant to a settlement by allocating the deposited amount proportionately among secured lenders based on consolidated admitted dues across group companies. The lenders adopted a uniform methodology-aggregating domestic and foreign exposures, converting foreign loans at a fixed exchange rate of Rs 63 per US dollar, applying nine percent interest per annum from NPA date with annual rests, and adjusting amounts recovered through insolvency-to compute each lender's share and propose payment into specified bank accounts.
March 18, 2026
Show AI Summary
Tariff policy uncertainty driving higher input costs and deterring investment, worsening supply chain disruptions for manufacturers.
Tariff measures enacted and announced by the executive have raised input costs for many US manufacturers, producing supply chain disruption, higher downstream prices, and employment contraction among small and medium producers. Uncertainty from frequent proclamations, reversals, exemptions and litigation has deterred capital investment and relocation decisions. While some construction and sectoral gains are cited by the administration, those reflect earlier subsidy driven projects rather than a broad manufacturing revival attributable to tariffs, and stakeholders call for targeted relief and clearer, coordinated trade strategies.
March 18, 2026
Show AI Summary
Digital data collection for national surveys streamlines submission and reduces processing time via CAPI and AI tools.
Modernisation of NSS data collection uses CAPI and web applications with in-built validation, bilingual interfaces, and chatbot features to enable near real-time submission, supervisory digital monitoring, and reduced processing time for survey outputs; MoSPI publishes an Advance Release Calendar for report schedules and is integrating AI into portals and a website chatbot without a fixed full-implementation timeline.
March 18, 2026
Show AI Summary
Cluster rejuvenation for export competitiveness: integrated infrastructure, MSME centric reforms and industry led governance drive implementation.
Rejuvenation of export oriented industrial clusters requires integrated infrastructure upgradation, technology adoption, capacity building and strengthened domestic manufacturing. Emphasis on enhanced testing, certification and quality infrastructure, promotion of innovation and technology commercialisation, and sustainable financing models. MSMEs are central, needing improved access to finance, capability enhancement and integration into global value chains. Implementation should adopt industry led governance via Special Purpose Vehicles, cluster level facilitation systems, regulatory simplification, and greater state and district flexibility to translate policy into actionable, demand aligned interventions.
March 18, 2026
Show AI Summary
Energy security: port maritime coordination ensured safe crude handling to sustain imports despite regional supply-route disruptions.
Arrival of tanker Jag Laadki at Mundra Port demonstrates the port operator's role in ensuring safe berthing and maritime coordination to maintain crude import handling amid regional hostilities. The event highlights legal-regulatory implications for port responsibilities in maritime safety and security, the impact of Strait of Hormuz disruptions on India's import-dependent energy supply, and the consequent need for sourcing diversification and resilient port governance to uphold refinery feedstock continuity.
March 18, 2026
Show AI Summary
NBFC registration permits deposit-taking and consumer EMI lending after KYC and instant credit limit approval.
Bajaj Finance Limited is a registered NBFC-D and classified as an NBFC-ICC, authorised to lend and accept deposits. It markets the Bajaj Finserv Easy EMI Loan to convert retail appliance purchases into monthly instalments: customers complete basic KYC (mobile number and PAN), receive an instant approved limit, and finalise EMI tenure and paperwork at partner stores. Promotional terms such as zero down payment and cashback vary by store and offers, and standard disclaimers apply.
March 18, 2026
Show AI Summary
Trade surplus driven by export growth offsets rising import costs as tariffs and energy shocks shape trade dynamics.
Japan swung to a February trade surplus as stronger-than-expected export growth, supported by Europe and other Asian markets and aided by currency depreciation, offset rising import costs driven by higher energy prices and geopolitical tensions; shipments to China and the US fell, with auto exports hit by US tariffs, while markets watch central bank policy and impending bilateral talks that may affect trade dynamics.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters

Guidance Note – Form 153

April 3, 2026

Contents
Forms
Summary
Note

Note

-

Bookmark

Print

Print

Form 153 - Certificate & Notice of Demand by Tax Recovery Officer (TRO)

Purpose

Form 153 is a statutory Certificate and Notice of Demand issued by the Tax Recovery Officer (TRO) under the provisions of section 413 or section 414 of the Income-tax Act, 2025, read with Rule No. 225 of the Income-tax Rules, 2026.

It serves as a formal demand notice to a taxpayer (individual, company, or other entity) against whom tax arrears are outstanding, and authorises the TRO to initiate recovery proceedings in accordance with the prescribed statutory provisions.

Who should issue / receive

Issued by:

  • Tax Recovery Officer (TRO).
  • In cases falling under section 414, the issuing TRO acts on the basis of a certificate forwarded by another TRO, along with a certified copy specifying the arrears to be recovered

Issued to:

  • A taxpayer (individual, company, firm, trust, LLP, government entity, etc.) from whom tax, surcharge, additional tax, penalty, interest, fine, or any other sum has become due and remains unpaid.

Once default occurs and a recovery certificate is drawn up and forwarded, the TRO issues Form 153 to initiate recovery proceedings.

Frequency & Due Dates

Form 153 is not a periodic form.

It is event-driven and is issued whenever a default occurs and recovery proceedings are required to be initiated.

  • A single Form 153 may cover multiple tax years.
  • It may include multiple heads of arrears, such as income tax, surcharge, penalty, interest, fine, or other sums.
  • The taxpayer is required to pay the amount within 15 days from the receipt of the notice.

Structure of Form 153

Form 153 has been modernised and structured into clear and logical parts, consistent with digital governance requirements.

Part A - Basic Information

Captures essential taxpayer identification and contact details:

  • Name (full name without abbreviations)
  • Permanent Account Number (PAN)
  • Address (structured format - flat/door, premises, street, locality, city/district, state, PIN/ZIP code)
  • Status (Individual, Company, Firm, Trust, LLP, Government, etc., as specified in Note 3)
  • Contact details - Mobile number (with country code) and Email ID

This structured capture improves accuracy in identification and communication.

Part B - Details of Amount in Arrears

Provides a tax year-wise detailed breakup of arrears under the following heads:

  • Income Tax
  • Surcharge
  • Additional tax (u/s 270)
  • Penalty (relevant section)
  • Interest (relevant section)
  • Fine (u/s 246)
  • Interest under section 411(3) from the date the amount became due
  • Any other sum

Each head is further classified into:

  • Regular
  • Advance
  • Provisional

The form also provides for:

  • Aggregate amount payable for each tax year
  • Repetition of tax year-wise rows where arrears relate to multiple years

All amounts are to be filled in ₹ (Indian Rupees).

Operative Portion - Certificate & Notice of Demand

The operative portion of Form 153 contains:

  • Certification that the specified sum has become due . Reference to the Document Identification Number (DIN) and date of the recovery certificate
  • Legal authority under section 413 or section 414 of the Income-tax Act, 2025
  • Direction to pay the arrears within 15 days of receipt
  • Warning that failure to pay will result in recovery proceedings under sections 413 to 422 and the Rule No. 225 of the Income-tax Rules, 2026.
  • Liability for:
    • Interest under section 411(3)
    • Costs, charges, and expenses of recovery proceedings

The form is authenticated with the seal and signature of the Tax Recovery Officer.

Documents Required to Issue Form 153

Since Form 153 is issued by the TRO and not filed by the taxpayer, the following departmental records are required:

  1. Recovery Certificate specifying arrears (from AO or another TRO, as applicable).
  2. Taxpayer Identification Records - PAN, address, status, and contact details.
  3. Arrear Computation Sheet - Detailed breakup of tax, surcharge, interest, penalty, fine, and other sums outstanding.

Filing Count

Form 153 is not a recurring or periodic form. It is issued only upon default and only when recovery proceedings are required to be initiated by the Tax Recovery Officer.

Process Flow of Form 153

1. Default and Certification:

Upon failure of the taxpayer to pay dues within the prescribed time, a recovery certificate is prepared and forwarded to the TRO.

2. Issue of Form 153:

The TRO issues Form 153 specifying the amount in arrears, tax year-wise breakup, legal provisions, and the 15-day payment timeline.

3. Recovery Proceedings:

If payment is not made within the stipulated time, the TRO initiates recovery proceedings such as attachment or sale of property under sections 413-422.

Outcome of Form 153 Processing

For the Department (AO / TRO):

  • Enables lawful and structured enforcement of recovery proceedings.
  • Ensures traceability and auditability through DIN-based issuance.
  • Facilitates real-time tracking of arrears and recoveries.

For the Taxpayer:

  • Acts as the final statutory intimation before coercive recovery.
  • Provides clear, tax year-wise and head-wise breakup of arrears.
  • Enables timely compliance or rectification of discrepancies.

Brief Note on Broad or Qualitative Changes Incorporated

The finalised Form 153 reflects significant qualitative improvements over the earlier version:

1. Legal Alignment:

  •  Sections updated from 222-223 (1961 Act) to 413-414 (2025 Act).

2. Enhanced Identification:

  •  Structured capture of name, PAN, address, status, and contact details.

3. Digital Governance Enablement:

  • DIN-based issuance for traceability and audit trail.
  • Designed for e-generation and electronic service of notices.

4. Improved Data Presentation:

  • Tax year-wise and head-wise breakup with regular/advance/provisional classification.
  • Removal of obsolete identifiers (e.g., GIR number).

5. Uniform Terminology:

  • Use of "Tax Year" instead of "Assessment Year".
  • Standardised currency notation as ₹.

Challenges and Solutions

Challenges in Old Form (1961)

Solutions in Finalised Form 153 (2025)

No unique traceability of recovery certificates

DIN-based identification for every Form 153

Limited taxpayer identification

Full structured identity and contact details

Weak linkage between assessment and recovery

System integration between AO, CPC, and TRO

Manual, text-heavy format

Digital-first, structured, and repeatable design

Common Changes Across Forms

1. Statutory Alignment

  • Sections updated from 222-223 (Income-tax Act, 1961) to 413-414 (Income-tax Act, 2025).
  • Recovery provisions now refer to sections 413-422 and the Rule No. 225 of the Income-tax Rules, 2026.

2. Digital Traceability

  • Introduction of Document Identification Number (DIN) for every Form 153.
  • Designed for e-generation and e-service.

3. Structured Format

  • Form divided into Part A (Basic Information) and Part B (Details of Amount in Arrears).
  • Clear, logical, and system-friendly layout.

4. Enhanced Taxpayer Identification

  • Detailed capture of Name (full), PAN, Address, Status, Mobile number, and Email ID.
  • Status standardised with predefined categories (Individual, Company, LLP, Trust, etc.).

5. Tax Year-wise Reporting

  • Use of "Tax Year" instead of "Assessment Year".
  • Provision to repeat rows for multiple tax years.

6. Detailed Break-up of Arrears

  • Arrears classified head-wise:
    • Income tax, surcharge, additional tax, penalty, interest, fine, interest u/s 411(3), and other sums.
  • Each head further split into Regular / Advance / Provisional.
  • Aggregate payable amount auto-derivable.

7. Updated Interest Provision

  • Interest referenced as section 411(3) (instead of section 220(2)).

8. Removal of Obsolete Elements

  • GIR number removed.
  • Redundant narrative text streamlined.

9. Standardisation

  • Currency standardised to ₹.
  • Uniform terminology and notes added for clarity.

10. Improved Legal & Operational Clarity

  • Explicit 15-day payment timeline retained with clearer consequences.
  • Clear distinction between section 413 and section 414 cases (inter-TRO recovery).

Topics

Acts Income Tax