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News
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April 4, 2026
Show AI Summary
Deduction audit report for petroleum and natural gas businesses requires deposit verification, withdrawal checks, and Chartered Accountant certification.
Form No. 183 is the prescribed audit report for claiming deduction under section 49 in the business of prospecting, extracting, or producing petroleum, natural gas, or both in India. It is furnished by a Chartered Accountant and verifies audit of the relevant books, timely deposit into the specified account, permitted use of withdrawals, disallowance of inadmissible expenditure, and transfer restrictions on assets acquired under the scheme. The form is filed annually before the return due date and requires supporting records of books, deposits, withdrawals, and asset transfers.
April 4, 2026
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Supply chain disruption hits Bikaner snack exports as conflict delays shipments and raises freight and input costs.
West Asia conflict has disrupted Bikaner exports and imports, causing delays in shipments of bhujia, papad, namkeen and spices to Gulf and European markets. Traders report longer transit routes, container shortages, higher freight charges, rising raw material and packaging costs, and consignments stuck at ports or in transit, affecting the city's export-driven economy.
April 4, 2026
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Audit report for petroleum and natural gas deduction claims requires certification, supporting records, and online filing compliance.
Form No. 183 is the prescribed audit report under Rule 291 read with Section 49 of the Income-tax Act, 2025 for an assessee engaged in the business of prospecting, extracting, or producing petroleum, natural gas, or both in India. It is mandatory where the deduction is claimed and must be certified by an Accountant. The form requires supporting books, financial statements, evidence of deposits and withdrawals from the specified account, and a computation showing that the deduction remains within the permissible limit.
April 4, 2026
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Deduction claim audit report for tea, coffee and rubber businesses requires Chartered Accountant certification and compliance with deposit rules.
Form No. 182 is a statutory audit report for assessees engaged in growing and manufacturing tea, coffee or rubber who claim deduction under section 48. It must be furnished by a Chartered Accountant annually before the return due date and certifies audit of books, timely deposit in the specified account or approved scheme, withdrawal utilisation, disallowable amounts, asset transfers, and the deduction permissible. The form is now a smart, tabulated e-form with mandatory professional identifiers and standardised fields for e-filing and validation.
April 4, 2026
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Tax deduction audit report rules require prescribed certification, verified deposits, and portal filing for tea, coffee and rubber businesses.
Form No. 182 is the prescribed audit report for assessees engaged in growing and manufacturing tea, coffee or rubber in India who claim deduction under section 48. It must be certified by an Accountant and furnished annually before the return due date. The report is mandatory for the deduction claim, supports verification of deposits, withdrawals, utilisation and deduction computation, and is completed through the e-filing portal with digital signing and assessee acceptance.
April 4, 2026
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Electoral trust audit reporting through Form 181 requires electronic disclosure of contributions, distributions, and administration expenses.
Form 181 is the annual audit report for electoral trusts, to be furnished electronically by an accountant through the e-filing portal before the return due date. It requires disclosure of voluntary contributions received and distributed, application for the benefit of persons or interested persons, and expenditure on administration or management of the trust. The form has been simplified and aligned with the Income-tax Act, 2025.
April 4, 2026
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Digital audit report requirements govern electoral trusts claiming exclusion of voluntary contributions from total income.
FN 181 is a mandatory digital audit report for an electoral trust seeking exclusion of reported voluntary contributions from total income. It must be prepared by an accountant, filed electronically with the Commissioner of Income Tax (CPC) through the e-filing portal, and submitted on or before the due date for filing the return of income. The form cannot be filed offline or edited after submission, and a valid PAN is mandatory for filing.
April 4, 2026
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Employee welfare fund approval under income tax rules depends on notified purposes, verified disclosure, and hearing before rejection.
Form 180 is the electronic application for approval or renewal of an employee welfare fund established for notified purposes under section 11(3) read with Schedule VII, to be filed by the trust or fund before the jurisdictional PCIT/CIT and verified by the trustee or principal officer. The form requires details of the trust or fund, employer organisation, objects, trustees, employee membership, contributions, income, application or accumulation of funds, along with the trust deed, activity notes and accounts. Approval is granted only if the prescribed conditions are satisfied, for a period not exceeding three tax years, and rejection requires recorded reasons and an opportunity of hearing.
April 4, 2026
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Employee Welfare Fund approval through Form 180 requires online filing, valid PAN, and strict trust-based eligibility conditions.
Form 180 is the prescribed electronic application for an Employee Welfare Fund seeking approval or renewal from the jurisdictional Principal CIT/CIT. The fund must be a trust for notified welfare purposes for serving employees or their dependents, and the application must be verified by the trustee or principal officer. Filing is mandatory for approval, which confers pass-through treatment and tax exemption subject to conditions. The form can be filed only online, cannot be edited after submission, and requires a valid PAN and supporting documents.
April 4, 2026
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Business connection in India compliance through Form 173 for eligible investment funds and annual verification of eligibility conditions.
Form 173 is a statement furnished by an eligible investment fund to verify compliance with the conditions for claiming that its activities do not constitute a business connection in India. The form is filed once in a tax year within 90 days from the end of the tax year, and it contains particulars on residence, tax identification number, Schedule I compliance, participation interests in India, fund manager remuneration, and investment profits. Supporting documents may include approval orders, registrations, financial statements, and remuneration contracts.
April 4, 2026
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Eligible investment fund reporting under no-business-connection rules requires mandatory online Form 173 filing and digital signature compliance.
Form 173 is the mandatory statement for an eligible investment fund to establish that its activities do not create a business connection in India. It must be filed once in a tax year, within 90 days from the end of the tax year, by the fund manager or designated person, only through the Income Tax e-filing portal, and it cannot be edited after submission. The form requires supporting fund details, registrations, financial statements, and digital signature compliance, and a valid PAN is mandatory.
April 4, 2026
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Eligible investment fund reporting under Form 172 requires accountant certification, electronic filing, and compliance with prescribed conditions.
Form 172 is the accountant's report for an eligible investment fund to establish fulfilment of prescribed conditions relevant to section 9(12) and the claim that the fund's activities do not create a business connection in India. It is prescribed under Rule 274(7), filed once in each tax year by the appointed accountant, and due by 31 October of the succeeding tax year. The form is filed electronically with a UDIN and digital signature, and non-filing may attract penalty under section 447.
April 4, 2026
Show AI Summary
Business connection in India reporting through Form 172 requires mandatory electronic filing, UDIN generation, and supporting documentation.
Form 172 is the mandatory accountant's report for an eligible investment fund to show compliance with conditions for claiming no business connection in India. It is filed once in a tax year by the appointed accountant through the Income Tax e-filing portal, after UDIN generation and digital signature. The form requires a valid PAN, cannot be edited after submission, and may need supporting documents such as fund manager details, SEBI registrations, financial statements, and contracts relating to the fund manager's activities and remuneration.
April 3, 2026
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Authorised Income Tax Practitioner registration under Form 171 depends on eligibility, supporting documents, and authority verification.
Form 171 is the one-time application for registration as an authorised Income Tax Practitioner under the specified eligibility categories in section 515(3) of the Income Tax Act, 2025. Eligible applicants include accountants, persons who have passed a recognised accountancy examination, and other qualified persons recognised by the Central Board of Direct Taxes. The form requires applicant details, the claimed eligibility category, qualifications, prior tax appearances, and supporting documents, and is filed with the jurisdictional Income Tax Authority for verification and registration.
April 3, 2026
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Authorised Income-tax Practitioner registration through Form 171 requires eligibility details, supporting documents, and one-time filing.
Form 171 is the prescribed application for registration as an Authorised Income-tax Practitioner under section 515 of the Income-tax Act 2025 and must be filed with the jurisdictional Chief Commissioner or Commissioner of Income-tax. The application is mandatory for recognition in that capacity, may be filed after eligibility arises, and is a one-time filing unless otherwise directed. It requires applicant particulars, eligibility details, qualifications, supporting documents, and relevant firm or association details. On approval, the applicant's name is entered in the Register of Income-tax Practitioners and a Certificate of Registration is issued.
April 3, 2026
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Annual Information Statement consolidates tax credits, payments, transactions, and proceedings in a taxpayer's e-filing account.
Form 168 operates as an auto-generated Annual Information Statement linked to a taxpayer's PAN and available in the e-filing account. It consolidates TDS, TCS, tax payments, specified financial transactions, demand and refund details, and pending or completed proceedings, together with any other prescribed information. The taxpayer does not file the form manually. It is updated dynamically during the year as underlying reports and payments are processed, and it uses Tax Year instead of Financial Year.
April 3, 2026
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Annual Information Statement and taxpayer summary streamline income reporting through detailed verification, feedback correction, and consolidated return filing.
Annual Information Statement (AIS) is the detailed financial statement linked to PAN, and Taxpayer Information Summary (TIS) is its consolidated version showing category-wise totals for use in return filing. AIS contains transaction-level data, while TIS provides summarized figures such as salary, rental income, interest, capital gains, dividend, business income and taxes paid. Taxpayers should verify AIS, use the feedback mechanism for incorrect or unrelated entries, and rely on the updated TIS; actual income must still be reported in the return even if missing from AIS.
April 3, 2026
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GST appeal filing blocked by NIL demand entries despite unpaid dispute over liability and prior voluntary payment.
Taxpayers may face portal restrictions when an adjudication order reflects a NIL demand because payment was made at the show cause notice stage without admitting liability. Although such payment does not amount to acceptance of the demand, the GST portal may block filing of appeal application APL-01 when no liability is captured in the Demand and Collection Register. The taxpayer may seek rectification of the order so that the correct demand amount is reflected and the appeal can then be filed within the prescribed time.
April 3, 2026
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Annual reporting for film production and specified activities under the income-tax framework now requires structured disclosure and TDS linkage.
Form 164 requires persons engaged in cinematograph film production or notified specified activities to furnish an annual statement for each tax year under section 507 of the Income-tax Act, 2025, read with Rule 236. The statement is due within 60 days from the end of the tax year and covers filer particulars, film or activity details, and payment and TDS information, including aggregate payments above the prescribed threshold linked to the relevant film or activity. The revised format uses three parts and standardised digital reporting.
April 3, 2026
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Mandatory annual statement for film production and specified activities covers incomplete projects, threshold payments, TAN, and electronic filing status.
A mandatory annual statement is required under section 507 of the Income-tax Act, 2025 for persons engaged in cinematograph film production or specified activities such as event management, sports events, documentary production, OTT or TV programme production, performing arts, or similar notified activities. The filing obligation applies to every individual, partnership firm, LLP, company or other entity that produced a film or undertook a specified activity during the relevant tax year, including cases where the film or activity was not completed in that year. The statement must be filed within 60 days from the end of the tax year, and TAN is required where the filer is liable to deduct tax at source.

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PMLA / Black Money

Cong concocted charges against my wife using false info from Pak social media group: Assam CM

April 6, 2026

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Guwahati, Apr 6 (PTI) Assam Chief Minister Himanta Biswa Sarma on Monday claimed the Congress has concocted the charge that his wife has multiple passports and owns properties in Dubai, using false information from a Pakistani social media group.

He also alleged that Pakistan was trying to influence the outcome of the Assam elections.

At a press conference here, a day after Congress leaders Pawan Khera and Gaurav Gogoi sought to know whether his wife or family owns property in Dubai, has companies in Wyoming, USA, or has placed their assets in shell companies, Sarma said these charges have been made to influence the poll results, which is "punishable under the law".

The BJP leader also alleged that the documents the Congress used to make the allegations against his wife were sourced from social media group "Pakistanis in Ajman", and her photo was morphed on a lost passport from that country.

"The allegations are completely baseless, based on fabricated documents and with a malicious intent to vitiate the poll atmosphere in the state," Sarma said He also said, "I am concerned that they took the help of Pakistan. This is not a simple fraud case but a crime against the nation." The chief minister went on to allege that "the Pakistan angle has become apparent and the law-enforcing agencies will take that into consideration while investigating." Sarma claimed that Pakistan was attempting to influence the Assam polls, stating the general narrative of at least 11 TV talk shows was that the Congress should win.

The chief minister said his wife has filed a complaint against Khera. "I am sure the police will register the case and take necessary legal action," he said.

Sarma claimed these allegations were made before the polls to influence the results, which is a "criminal offence and punishable under the law." The chief minister also said it was "unfortunate" that former Assam chief minister Tarun Gogoi's son Gaurav Gogoi could "stoop so low" and make such false allegations against his wife.

Congress leader Khera alleged on Sunday that the Assam chief minister's wife has passports of the UAE, Egypt and Antigua-Barbuda, two properties in Dubai and assets in shell companies.

Refuting the allegation, Sarma claimed that anyone with an international transaction-enabled credit card can file a company in Wyoming, USA, by visiting a website. "We have also created a company in the name of Gaurav Gogoi and his wife, which is fake." "We created 'GauravElizabeth786 Limited Liability LLC' by paying USD 199, and it should be visible on the website by this evening," he claimed.

Sarma claimed the Congress made changes to the passports and documents procured from the Pakistani social media group and replaced them with details of his wife Riniki Bhuyan Sharma, but missed out on certain details that busted their lies.

A simple reverse search on Google with the passport number threw up details that brought to the fore anomalies in their claims, he said.

About the Congress' claims on the UAE travel document, Sarma said, "The UAE issues a Golden VISA, which is not a passport. That country doesn't issue a passport to any individual who is not an Emirati citizen or official." The Golden Visa is a 10-year, renewable long-term residency programme for investors, entrepreneurs, specialised talents, and top students, to live and work in the UAE without sponsorship.

Sarma said the second anomaly was in the ID number, where the second numeral series denotes the year of birth, which in his wife's case is 1973, but it is mentioned as 1996.

"The VISA number is actually of a person, Ashraf Abdelkader Abelsamad Hussein, an Egyptian citizen with the birth year 1996 who lost his passport and its information was uploaded in the Pakistan group for finding it," Sarma claimed.

About the claims on the Egyptian passport, Sarma said there was a "mismatch in the number listed on top and the one in the Machine Readable Zone (MRZ)".

The passport actually belongs to a woman named Nihad Ibrahim Al Sayed Alnaggar, a citizen of Egypt, and though "they forged the details written in English, the Arabic details remained the same, with a slight change in the passport number", the chief minister claimed.

Another anomaly in the passport is that the place of birth is always mentioned as a city, but in the case of the forged passport, it is mentioned as 'Indian'.

"The facial features of the picture in the passport are inconsistent with the original facial features of my wife," Sarma claimed.

About the Congress' charge on the Antigua-Barbuda passport, Sarma claimed that in the fabricated document, it was mentioned as PA (personal) whereas in the MRZ, it is mentioned as PPA, which is an obvious typographical error, and there are also anomalies in the facial features.

The Assam CM alleged the Congress circulated photos of these fabricated documents of an LLC named Rinikibhuyan, dated December 5, 2025, but it was formed after their press conference. He also alleged that another so-called company -- Hrinikinandi LLC -- was formed on April 3, 2026, two days before the Congress press conference.

About the charge about shell companies, the Assam chief minister said, "They tried this playbook in the St. Kitts case, but those days are over. Any fabrication will be met with the full force of law; my legal team is already at work." The St. Kitts case was a conspiracy to frame ex-prime minister V P Singh by forging documents to suggest his son held an illegal account in the Caribbean island of St. Kitts. PTI DG DG NSD

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Acts Income Tax