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
❯❯
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
April 2, 2026
Show AI Summary
Lower or nil tax deduction certificate through TRACES requires advance electronic filing, PAN, and supporting documents.
Form No. 128 is the electronic application for a certificate authorising lower or nil deduction of income-tax and lower collection of income-tax under section 395(1) and section 395(3) of the Income-tax Act, 2025. The form is optional, must be filed through the TRACES portal before the relevant transaction, and cannot be processed once the TDS/TCS transaction is completed. It requires PAN, supporting documents, and electronic submission with e-verification.
April 2, 2026
Show AI Summary
Tax collection at source declaration for non-trading use of goods enables buyers to obtain goods without TCS.
Form No. 127 is the declaration required from a buyer to obtain goods without collection of tax at source where the goods are intended for manufacturing, processing, production, or generation of power and are not meant for trading. The buyer must furnish the declaration to the seller at or before the purchase or payment event, and the seller must verify the declaration, upload monthly details to the e-filing portal by the 7th of the following month, and forward the declaration to the tax authority.
April 2, 2026
Show AI Summary
TCS exemption declaration for specified goods requires PAN, timely filing, and seller reporting obligations.
Form No. 127 is a buyer's declaration under section 394(2) of the Income-tax Act, 2025 for obtaining specified goods without collection of tax at source. A resident buyer may furnish the declaration to the seller where the goods are intended for manufacturing, processing, producing articles or things, or generating power, and not for trading. PAN is mandatory, the declaration must be furnished on or before the date of transaction, and once received the seller must report the particulars and include the transactions in the quarterly TCS statement.
April 2, 2026
Show AI Summary
Tax deduction relief for non-resident branch operations through a unified Form No. 126 compliance framework.
Form No. 126 is a unified self-declaration and treaty-benefit request for specified non-residents carrying on business or profession in India through a branch to obtain a certificate for receipt of certain sums without deduction of tax at source. Banking companies and insurers, and other eligible non-resident persons, must satisfy the conditions in Rule 209, including tax compliance, branch-based receipt on own account, and, for non-banking applicants, continuous business in India for five years and prescribed fixed assets. The application is filed electronically, processed by the Assessing Officer, and the certificate remains valid for the relevant tax year unless cancelled earlier.
April 2, 2026
Show AI Summary
Rupee recovery follows RBI cap on banks' net open position amid capital outflows and crude-driven pressure.
Rupee recovered in early trade after the Reserve Bank of India capped banks' net open position in the onshore forward delivery market and required compliance by April 10, 2026. The currency remained under pressure from foreign capital outflows, a stronger dollar, rising crude oil prices, geopolitical volatility, widening trade deficit, declining remittances and sustained foreign portfolio investor selling.
April 2, 2026
Show AI Summary
Customs duty exemption on critical petrochemical imports aims to stabilise supply chains and ease cost pressures.
Full customs duty exemption has been granted on specified critical petrochemical imports as a temporary and targeted measure to protect supply stability amid disruptions in global supply chains caused by the West Asia crisis. The exemption is intended to ensure continued availability of essential petrochemical inputs for domestic industry, reduce cost pressures on downstream sectors, and provide relief to consumers of final products. The exemption remains valid until June 30 and covers Methanol, Anhydrous ammonia, Toluene, Styrene, Dichloromethane, Vinyl chloride monomer, Poly butadiene, Styrene butadiene and Unsaturated polyester resins.
April 2, 2026
Show AI Summary
GST fraud through fake firms and fake invoices exposed alleged illegal input tax credit claims and circular trading.
GST fraud involving fake firms, shell companies, fake invoices and circular trading was detected during a police investigation. The alleged racket used fake Aadhaar and PAN details to unlawfully avail input tax credit and underreported sales in GST returns, causing an estimated loss of around Rs 3 crore to the government exchequer, with the total involvement suspected to be higher. One accused was arrested, while efforts continued to trace other persons involved.
April 1, 2026
Show AI Summary
GST revenues rise on stronger imports and domestic sales, marking one of the highest monthly collections this fiscal.
GST revenues rose about 9 per cent in March to over two lakh crore rupees, reaching the third highest monthly collection in the 2025-26 fiscal. The increase was supported by higher receipts from imports as well as domestic sales and purchases, reflecting a recovery in tax mop-ups after earlier tax cuts.
April 1, 2026
Show AI Summary
State GST collection growth in Haryana leads the country, driven by stronger compliance, economic activity and taxpayer base expansion.
State GST collection growth in Haryana was reported as the highest among all states in FY26, with post-settlement SGST collection rising to Rs 48,289 crore from Rs 39,743 crore in FY25. The increase of 21.5 per cent exceeded the national average SGST growth of 5.7 per cent. Total GST collection in the State also grew by 8.6 per cent, placing Haryana fifth among states and Union Territories in gross domestic GST collection.
April 1, 2026
Show AI Summary
Insolvency resolution framework tightened to speed up admissions, reduce delays, and support rescue of viable businesses.
Parliament has amended the Insolvency and Bankruptcy Code to speed up admission and resolution of insolvency cases, reduce backlog, and preserve enterprise value. The changes introduce stricter timelines, greater reliance on information utilities, stronger liquidation oversight, and an enabling framework for group and cross-border insolvency. The bill also replaces the underused fast-track process with a creditor-initiated framework, exempts MSMEs from disqualification under specified provisions, and requires insolvency applications to be admitted within 14 days once default is established.
April 1, 2026
Show AI Summary
Tax devolution dispute intensifies as Karnataka alleges unfair GST returns, denied compensation, and shrinking fiscal share.
Karnataka Chief Minister Siddaramaiah alleged that the Union Government's tax devolution and fiscal policy towards Karnataka amounted to tax terrorism or tax plunder, saying the state receives only a small share in return for its tax contribution. He said Karnataka has repeatedly raised concerns about unfair distribution of taxes, cess, surcharge revenues, GST compensation, and central funding, and claimed these issues have weakened the state's finances and increased dependence on borrowing. He also described GST implementation as flawed and unscientific, leading to significant financial losses.
April 1, 2026
Show AI Summary
Money laundering probe leads to searches, cash seizure and firearm recovery in Kolkata-linked premises.
Money laundering investigation under the Prevention of Money Laundering Act led to searches at multiple premises in Kolkata linked to an alleged criminal syndicate, including the residence and commercial premises of an accused history-sheeter, a business entity, and associated persons. During the raids, the Enforcement Directorate seized about Rs 1.2 crore cash from a location linked to one associate and recovered a country-made pistol from the accused's premises.
April 1, 2026
Show AI Summary
Corporate resolution under insolvency law gains faster admission, stronger creditor oversight, and MSME promoter participation safeguards.
The Insolvency and Bankruptcy Code is presented as a framework for corporate resolution and banking-sector improvement through asset recovery, with liquidation remaining a residual measure where resolution fails. The current amendments focus on expeditious admission based on the existence of default, greater reliance on information utilities, statutory timelines, stronger liquidation oversight, and a creditor-initiated insolvency framework with out-of-court initiation, debtor-in-possession structure, and defined timelines. The amendments also enable group and cross-border insolvency and exempt MSMEs from specified disqualifications so that existing promoters may participate in resolution.
April 1, 2026
Show AI Summary
Insolvency and bankruptcy reform debate centers on creditor haircuts, tribunal backlog, and concerns over corporate defaulter protection.
The Rajya Sabha debated the Insolvency and Bankruptcy Code (Amendment) Bill, 2026, amid criticism of repeated amendments, substantial creditor haircuts, alleged favouritism toward large corporate defaulters, and ongoing pendency and infrastructure bottlenecks in insolvency tribunals. Members raised concerns over proposed creditor-initiated insolvency changes, executive rule-making on cross-border insolvency, and the limited effectiveness of MSME resolution mechanisms, while others supported the Code and urged stronger institutional capacity and better use of insolvency funds.
April 1, 2026
Show AI Summary
Tax deduction at source relief for branch-based non-residents through Form No. 126 and Assessing Officer certification.
Form No. 126 is an optional self-declaration and treaty-benefit request for a specified non-resident person carrying on business or profession in India through a branch, to obtain an Assessing Officer certificate authorising receipt of specified sums without deduction of tax at source. Eligibility depends on whether the applicant is a banking company or insurer, or another branch-based business or profession, and the form must be filed online before income is received. The certificate is valid for the relevant tax year unless cancelled earlier.
April 1, 2026
Show AI Summary
Specified senior citizen declaration governs pension and interest income reporting, bank deduction, and return-filing exemption.
Form No. 125 is the declaration furnished by a specified senior citizen to the specified bank for pension and interest income. It applies to a resident aged seventy-five years or more who has pension income and only interest from the same specified bank, and who gives the prescribed declaration. The form is used by the deductor for reporting and is stated to exempt the taxpayer from return-filing compliance for the relevant tax year. It is filed once each financial year and requires key personal, bank, pension, and tax-regime details.
April 1, 2026
Show AI Summary
Insolvency and Bankruptcy Code amendments aim to speed resolution, cut backlog, and strengthen the financial ecosystem.
Amendments to the Insolvency and Bankruptcy Code were passed to accelerate insolvency resolution, reduce case backlog, and strengthen the financial ecosystem. The changes focus on shortening the time taken for admission of insolvency resolution applications and improving the efficiency of the resolution framework. The government accepted all recommendations made by the Lok Sabha Select Committee and added one further recommendation from the Ministry of Corporate Affairs.
April 1, 2026
Show AI Summary
Specified senior citizen declaration governs return-filing exemption for pension and interest income through a specified bank.
Form No. 125 is the declaration to be furnished by a specified senior citizen in relation to pension income and interest received or receivable through a specified bank. The declaration is confined to pension and interest income and does not extend to other income. Filing the form enables exemption from filing an income-tax return, while the specified bank computes total income and deducts tax accordingly. The form must be submitted once for each tax year, may be filed in paper or electronically, and may be revised or withdrawn if income details change.
April 1, 2026
Show AI Summary
Tax deduction at source claims form requires employee details, supporting evidence, and annual disclosure to employer.
Form No. 124 is the employee's statement of particulars of claims for deduction of tax at source under section 392(5)(b) of the Income-tax Act, 2025 read with Rule 205 of the Income-tax Rules, 2026. It is furnished to the current employer so that deductions, exemptions and allowances may be considered for correct tax deduction from salary. The form is filed once every financial year and requires employee details, claim particulars, supporting evidence and a declaration that the particulars are correct and complete.
April 1, 2026
Show AI Summary
Employee tax benefit declarations guide salary TDS computation through Form No. 124 and supporting evidence.
Form No. 124 is the employee statement furnished to an employer for consideration of deductions, exemptions, allowances, and other tax benefits while computing taxable salary and TDS liability. It applies where the employee seeks employer recognition of claims relating to house rent allowance, leave travel allowance, interest on housing loan, and investment- or expenditure-based deductions, together with supporting evidence. The form has Part A for employee particulars and Part B for the tax benefits claimed with annexures in support of those claims.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters
News and Press Release

Government recognizes more than 55,200 startups during FY 2025-26, highest ever in a single year since launch of Startup India initiative

April 17, 2026

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Total recognized startups cross 2.23 lakh with over 23.36 lakh jobs created; strong growth in funding, credit support and public procurement

The Government has recognized more than 55,200 startups during Financial Year 2025-26, marking the highest number of startups recognized in a single year since the launch of the Startup India initiative.

The Startup India initiative was launched on 16th January 2016 with an Action Plan comprising schemes and incentives aimed at creating a robust ecosystem for nurturing innovation, encouraging private investments, and supporting startups across the country. Various programmes are being implemented to recognize, develop and empower startups.

Since inception, the number of recognized startups has crossed 2.23 lakh as on 31st March 2026, generating more than 23.36 lakh direct jobs. More than 1.07 lakh recognized startups have at least one woman director or partner, accounting for approximately 48% of total recognized startups.

The number of startups recognized increased by 51.6% year-on-year in FY 2025-26 compared to FY 2024-25, while direct jobs created rose by 36.1% during the same period.

Table 1: Startups and jobs spread across the country

Details

FY 2024-25

FY 2025-26

Year-wise no. of entities recognized as startups

36,400+

55,200+

Year-wise no. of direct jobs created by recognized startups

3,66,870+

4,99,400+

Startups are now present across all States and Union Territories. Maharashtra, Karnataka, Uttar Pradesh, Delhi and Gujarat have emerged as leading regions in terms of the number of recognized startups and direct employment generation as on 31st March 2026.

Table 2: States and UTs with highest number of recognized startups 

State / UT

Entities recognized as startups

as on 31st March 2026

Direct jobs created

by startups as on

31st March 2026

Maharashtra

38,660+

4,13,900+

Karnataka

22,600+

2,46,000+

Uttar Pradesh

21,960+

2,11,580+

Delhi

21,120+

2,36,640+

Gujarat

19,270+

2,14,800+

Tamil Nadu

14,830+

1,52,900

Telangana

12,520+

1,36,570+

Haryana

11,620+

1,39,600+

Kerala

8,620+

74,130+

Rajasthan

8,100+

83,100+

The Government continues to support startups through flagship schemes including the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS), providing financial support at various stages of the startup lifecycle.

Under FFS, more than Rs. 7,000 crore has been disbursed to over 135 Alternative Investment Funds (AIFs) by the end of FY 2025-26, which have further invested more than Rs. 26,900 crore in over 1,420 startups. Building on this, the Government has notified Startup India Fund of Funds 2.0 with a corpus of Rs. 10,000 crore.

Table 3: Extensive support under flagship schemes - FFS

Details

FY 2024-25

FY 2025-26

Amount disbursed to AIFs to support

startups under the FFS 1.0 (in Rs. crore)

980+

1,039+

The Credit Guarantee Scheme for Startups has been expanded in FY 2025-26 to enhance capital mobilization by increasing the guarantee cover per borrower from Rs. 10 crore to Rs. 20 crore, enhancing the extent of guarantee cover, and reducing the annual guarantee fee for lenders in identified sectors. By the end of FY 2025-26, more than 410 loans amounting to over Rs. 1,250 crore have been guaranteed.

Table 4: Extensive support under flagship schemes - CGSS

Details

FY 2024-25

FY 2025-26

No. of loans guaranteed to startups

130

135+

Amount of loans guaranteed to startups (in Rs. crore)

305

600+

Under the Startup India Seed Fund Scheme, 219 incubators have been selected and the entire corpus of Rs. 945 crore has been committed. These incubators have approved funding of over Rs. 605 crore to more than 3,400 startups. The scheme has been extended to enable continued disbursement and completion of approved activities.

Startup-led innovation has also strengthened intellectual property generation, with more than 19,400 patent applications filed by startups. Patent filings increased from over 2,850 in FY 2024-25 to more than 4,480 in FY 2025-26.

Table 5: Increase in patent filing by startups

Details

FY 2024-25

FY 2025-26

Patent applications filed by startups

2,850+

4,480+

The Government e-Marketplace (GeM) has further facilitated startup participation in public procurement. More than 38,600 startups have been onboarded on the platform.

Table 6: Public procurement to support startup innovation

Details

FY 2024-25

FY 2025-26

Total no. of startups onboarded on GeM

5,140+

6,540+

Total number of orders placed to startups on GeM

1,19,620+

1,40,260+

Total value of orders placed to startups on GeM (in Rs. crore)

14,103+

19,190+

A screenshot of a computerAI-generated content may be incorrect.

 

Topics

Acts Income Tax