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
    FDA awaiting response from restaurants at Mumbai Cricket Association premises: Mundhe
    India emerges as key diesel supplier to Europe as Russian, US flows falter
    Trump keeps heralding an economic boom, but even a solid jobs report is causing problems for him
    Telangana CM urges TCS'' HyperVault to launch its Hyderabad AI data centre by June 2028
    CBI FIR against Subhash Chandra for 'inflating' net worth to secure Rs 980 Cr in loans
    TCS subsidiary HyperVault to invest Rs 70,000 cr to develop Hyderabad AI data centre
    CBI FIR against Subhash Chandra for 'inflation' of net worth to secure nearly Rs 1,000-cr in loans
    Union Minister of Commerce & Industry Shri Piyush Goyal Calls for Nationwide FTA Utilisation Drive to Expand India’s Global Trade Footprint
    Union Minister of Commerce & Industry Shri Piyush Goyal Calls Upon Automotive Industry to Deepen Localisation, Expand Exports and Prepare to Serve Glo...
    GeM and Textiles Committee Sign MoU to Boost Procurement of Recycled and Upcycled Textiles
    India–EU FTA Opens Huge Opportunities for Farmers, MSMEs, Innovators, Startups and Businesses in India and Europe: Commerce and Industry Minister Sh...
    First Batch of Corporate Mitra Course Commences with 2879 Learners registered
    NFRA Constitutes Advisory Committee on Audit Quality, Assurance and Technology
    ED arrests ex-panchayat CEO who allotted govt funds for fake marriages during COVID lockdown
    Goyal blames market conditions for Jet Airways' downfall; ED says he 'bled airline to death'
    Rupee rises 8 paise to close at 94.43 against US dollar
    NSE gets regulatory nod for Rs 30,000 cr IPO, the biggest so far
    Sensex rebounds 362 pts, snaps 4-day losses on strong rally in metal, oil shares
    Forex kitty jumps USD 11.47 bn to fresh all-time high of USD 740.8 bn
    NSE gets Sebi nod for Rs 30,000-cr IPO, one of India's largest public issues
❯❯
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
September 6, 2026
Show AI Summary
Food business licensing: Third-party restaurant operators require their own licences and cannot operate under another entity's registration.
Food Business Operator licensing requires the entity holding a food licence or registration to itself conduct the licensed food business at the specified premises. A third-party operator cannot operate under another entity's licence or registration and must obtain its own licence or registration. Regulatory notices concerning such arrangements may also address hygiene lapses and structural violations, followed by consideration of the operators' responses.
September 6, 2026
Show AI Summary
European diesel supply dependence on alternative refiners grows amid constrained exports, weakening transatlantic flows, and restricted shipping routes.
European diesel supply is becoming increasingly dependent on Indian refining capacity as Russian diesel and gasoil exports remain constrained by export restrictions, refinery disruptions and port outages, while US shipments to Europe have weakened. Alternative supply routes offer limited additional clean-product volumes because reduced tanker crossings and lower ship-to-ship transfers offshore Oman constrain flows through the Strait of Hormuz. Low diesel inventories, seasonal demand and planned refinery maintenance increase exposure to supply disruptions.
September 5, 2026
Show AI Summary
Tariff-driven inflation and elevated borrowing costs constrain growth, while durable deficit reduction may require spending restraint and tax increases.
Persistent inflation, elevated interest rates and rising public debt constrain economic growth policy. Tariffs and oil shortages are identified as contributing to inflationary pressures, while lower interest rates could increase money flows and worsen inflation. Tariffs, tax cuts, artificial intelligence productivity gains and anti-fraud measures are advanced as mechanisms to support growth, investment and domestic employment. Fiscal sustainability, however, cannot be achieved through growth alone where social security and healthcare costs exceed revenue growth; deficit reduction may require slower spending, spending reductions and tax increases.
September 5, 2026
Show AI Summary
AI data centre development receives state support for a high-capacity campus and accelerated commissioning timetable.
HyperVault's proposed artificial-intelligence data-centre campus in Hyderabad is planned on 264 acres, with investment projected at up to Rs 70,000 crore and capacity of up to 1 GW. The campus is intended to provide high-density, liquid-cooled computing infrastructure for frontier AI companies and hyperscalers. Telangana's Chief Minister sought inauguration by June 2, 2028, while assuring required governmental sanctions and support. The project is estimated to create 7,000 jobs.
September 5, 2026
Show AI Summary
Inflated net-worth certificates allegedly enabled secured lending, triggering fraud, breach-of-trust and asset-stripping allegations after default.
Alleged inflation of net-worth certificates is said to have induced approval and disbursal of two corporate loan facilities aggregating Rs 980 crore, each secured by continuing personal guarantees. The facilities subsequently defaulted. The FIR alleges that materially higher net-worth representations made in 2018 were later contradicted during insolvency proceedings, and attributes the lending to collusion among the guarantor, borrower entities and their officers. Allegations include cheating, creation of false documents, misappropriation and misapplication of loan funds, breach of trust, and asset stripping intended to frustrate recovery.
September 5, 2026
Show AI Summary
AI data centre infrastructure investment enables phased deployment of high-density, liquid-cooled computing capacity using green and water-neutral design.
HyperVault plans to develop an artificial intelligence data-centre campus on 264 acres in Hyderabad, with capacity of up to 1 GW and investment by HyperVault and its partners of up to Rs 70,000 crore. The facility is intended to provide high-density, liquid-cooled computing infrastructure for frontier AI companies and hyperscalers. Development will proceed in phases according to customer demand and technology requirements, incorporating green-energy use and water-neutral design principles.
September 5, 2026
Show AI Summary
Alleged inflation of personal net worth underpins fraud and breach-of-trust accusations over secured corporate lending.
CBI registration of an FIR concerns allegations that inflated personal net-worth certificates were used to secure corporate loan facilities from Life Insurance Corporation Housing Finance Ltd. The lender alleges that the certificates influenced lending decisions, the facilities subsequently defaulted, and later insolvency proceedings disclosed inconsistency between the represented and asserted net-worth figures. Allegations include collusion with borrower entities, false documentation, cheating, misappropriation of loan funds, and breach of lender trust.
September 5, 2026
Show AI Summary
Free trade agreement utilisation requires district-level exporter support, rules-of-origin assistance, standards compliance, and coordinated market-access outreach nationwide.
Free Trade Agreement utilisation is to be advanced through coordinated action by central and state governments, sectoral ministries, Export Promotion Councils, industry associations and local export-support institutions. Preferential treatment is assessed against tariff rates faced by competing countries, while export competitiveness depends on scale, quality, customer trust and timely delivery. The Export Promotion Mission supports export credit, digitised compliance and FTA documentation, including rules-of-origin certification. District-level identification of products, clusters, new exporters and practical constraints, supported by workshops and rapid online facilitation, is intended to deepen market access.
September 5, 2026
Show AI Summary
Automotive localisation and export competitiveness are prioritised through global-standard manufacturing, technology partnerships, sustainable mobility, and government infrastructure support.
Automotive-sector localisation, export expansion and global-standard manufacturing are prioritised to strengthen India's role in global production and trade. Companies are urged to invest in technology, innovation, research and development, use domestic scale for overseas markets, and avoid supplying inferior products domestically. Trade agreements are positioned as channels for market access, technology absorption and exports. Greater indigenisation is encouraged through component localisation, technology collaborations and expanded exports, supported by critical minerals, batteries, indigenous energy sources, research funding, plug-and-play infrastructure and industrial ecosystems.
September 5, 2026
Show AI Summary
Circular textile procurement integrates certification, product categories and seller support to expand government markets for recycled materials.
Memorandum of Understanding for circular textile procurement links certification, standardisation and public-market access for recycled and upcycled products made from textile waste, scrap and second-hand clothes. The Textiles Committee will identify, verify, certify and recognise eligible producers and support specifications, catalogues and capacity building. Government e Marketplace will create dedicated product categories, onboard sellers, facilitate online market linkages, promote products to government buyers, and provide training and handholding to recyclers and upcyclers.
September 5, 2026
Show AI Summary
India-EU Free Trade Agreement promotes tariff reduction, market access, investment resilience, and India-Belgium industrial and skills cooperation.
India-EU Free Trade Agreement is presented as reducing or removing tariffs on more than 95 per cent of Indian and European goods exports while protecting sensitive sectors on both sides. It is intended to expand trade, investment and economic resilience, with the Port of Antwerp-Bruges serving as a major gateway for Indian exports into European markets. India-Belgium cooperation is identified in gems and jewellery, semiconductors, green hydrogen, advanced manufacturing, agriculture and food processing, supported by mutual recognition, workforce mobility, skills development and technology collaboration.
September 5, 2026
Show AI Summary
MSME compliance capacity-building programme launches structured learning and workplace training to develop certified paraprofessional support.
Corporate Mitra Course has commenced to develop trained and certified paraprofessionals capable of providing affordable business and regulatory compliance support to Micro, Small and Medium Enterprises. The 12-month programme includes six months of structured academic learning and six months of on-the-job training in professional firms. Its digital learning system offers recorded lectures, reference materials, assessments and learner-support facilities. The programme aims to strengthen MSME formalisation, ease of doing business, trust, transparency, accountability and orderly growth.
September 5, 2026
Show AI Summary
Audit quality advisory committee broadens expert input on assurance, technology, and stakeholder perspectives in oversight.
NFRA has constituted an Advisory Committee on Audit Quality, Assurance and Technology under Rules 15 and 16 of the National Financial Reporting Authority Rules, 2018. The Committee will provide expert inputs and suggestions on matters significantly affecting audit quality, while supporting functions relating to awareness of auditing and accounting standards. Its members represent professionals, chief financial officers, audit committees, independent directors, technology experts, regulators and industry.
September 4, 2026
Show AI Summary
Money laundering allegations over fraudulent marriage-assistance disbursements prompted investigation into false credentials and ineligible beneficiary payments.
Alleged money laundering arose from fraudulent disbursement of marriage-assistance funds intended for daughters of registered construction workers. The allegations include approvals and releases for suspicious marriage cases, use of bank accounts opened or misused on false credentials, multiple cash withdrawals, and extension of benefits to ineligible persons. Investigation under the Prevention of Money Laundering Act followed an economic-offences FIR concerning suspected misuse of the welfare scheme.
September 4, 2026
Show AI Summary
Money-laundering allegations: discharge plea attributes airline's financial collapse to macroeconomic conditions and denies loan siphoning through sales agents.
Money-laundering proceedings arising from alleged bank fraud concern claims that loans advanced to an airline were siphoned off. The discharge application attributes the airline's financial collapse to adverse macroeconomic conditions rather than fraudulent conduct or laundering, denies diversion through General Sales Agents, and maintains that related payments were board-approved and disclosed. It also contests the treatment of the bank's outstanding claim as funds received by the founder, while the investigating agency alleges systemic fraud, loan diversion and laundering.
September 4, 2026
Show AI Summary
Foreign exchange market conditions supported rupee appreciation, while oil prices and geopolitical tensions limited potential gains.
Foreign exchange market conditions supported the rupee's appreciation by 8 paise to 94.43 against the US dollar, aided by positive domestic equity markets, improved risk appetite, foreign capital inflows and foreign institutional buying. Reserve Bank of India intervention was also cited as support. Elevated crude oil prices, safe-haven dollar demand and United States-Iran tensions were identified as factors limiting further gains. India's foreign exchange reserves increased to a new all-time high during the relevant reporting week.
September 4, 2026
Show AI Summary
Offer-for-sale IPO clearance enables existing exchange shareholders to monetise holdings, while sale proceeds remain outside the exchange.
Regulatory clearance permits the National Stock Exchange to proceed with an initial public offering structured wholly as an offer for sale by existing shareholders. The proposed issue does not raise fresh capital, and sale proceeds will accrue to the selling shareholders rather than the exchange. Revised offer documents were required after addition of a selling shareholder, triggering a fresh public-feedback period. The offering follows settlement of co-location and dark-fibre matters and governance and compliance measures addressing regulatory concerns.
September 4, 2026
Show AI Summary
Equity market resilience was tempered by profit booking, geopolitical tensions, global rate expectations and domestic liquidity.
Equity markets registered a recovery after four consecutive losing sessions, led by buying in metal, private banking, oil and gas, housing finance, telecommunication, insurance, commodities and financial services shares. The benchmark equity index closed higher, while the broader index recorded a modest gain after retreating from an intraday level above the psychological threshold during the newly introduced Closing Auction Session. Investor sentiment was supported by easing interest-rate concerns, strong earnings momentum, resilient economic growth and domestic demand, but was constrained by profit booking, geopolitical tensions and crude-oil price risks.
September 4, 2026
Show AI Summary
Forex reserve management reflects rising foreign currency assets and gold holdings, alongside marginal declines in SDRs and IMF reserve position.
India's foreign exchange reserves increased to a fresh all-time high, supported principally by higher foreign currency assets and gold reserves. Reserve accumulation has continued after concessional foreign-exchange swap initiatives introduced amid local-currency depreciation. Foreign currency assets, expressed in United States dollar terms, also reflect valuation effects from movements in currencies such as the euro, pound and yen. Special drawing rights and the reserve position with the International Monetary Fund declined marginally.
September 4, 2026
Show AI Summary
IPO regulatory clearance enables further public issue preparations, with existing shareholders proposing a complete offer for sale.
SEBI's final observations on the proposed initial public offering enable the National Stock Exchange to undertake further public-issue preparations, subject to applicable regulatory requirements. The proposed issue is structured entirely as an offer for sale, under which existing shareholders would divest a portion of their holdings rather than the exchange issuing new shares. The draft red herring prospectus contemplates sale of 14.89 crore shares, representing nearly 6 per cent of the exchange's stake.

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