Key Compliances under Deferred Payment of Import Duty Rules, 2016
The Deferred Payment of Import Duty Rules, 2016 were introduced to improve ease of doing business by allowing eligible importers to pay customs duty at a later date instead of at the time of clearance. Framed under the Customs Act, 1962, the rules aim to reduce cash-flow burden, speed up cargo clearance, and support compliant importers, especially Authorized Economic Operators (AEOs).
MAT Computation (Report under Form No. 66) under Income-tax Rules, 2026
Concept of Minimum Alternate Tax (MAT) was introduced to ensure that companies with significant book profit, but minimal taxable income still contribute a minimum level of tax.
Deduction for Additional Employee Cost (Form No. 34) under Income-tax Rules, 2026
To promote employment generation, the tax framework provides a deduction in respect of additional employee cost incurred by eligible businesses.
Income Tax Returns
Section 263 of the Income Tax Act, 2025 mandates the furnishing of a return of income (ITR) by specified persons within prescribed timelines.
Tax Deduction at Source (TDS) – Deduction, Deposit and Reporting Compliance
Tax Deducted at Source (TDS) mechanism is a cornerstone of India’s direct tax system, designed to ensure timely collection of taxes at the source of income generation.
Tax Audit (Form No. 26) under Income-tax Act, 2025
Form No. 26 is prescribed as the Report of Audit of Accounts and Statement of Particulars required to be furnished under Section 63 of the Income-tax Act, 2025 read with Rule 47 of the Income-tax Rules, 2026.
Permanent Account Number (PAN)
The Permanent Account Number (PAN) is a unique 10-character alphanumeric identifier issued by the Income Tax Department to track financial transactions and ensure tax compliance.
Tax Deduction and Collection Account Number (TAN)
Section 397 of the Income Tax Act, 2025 establishes a comprehensive framework governing Tax Deduction at Source (TDS) and Tax Collection at Source (TCS).
Advance Tax under Income Tax Act, 2025
Advance tax is a mechanism under the Income Tax Act, 2025 requiring taxpayers to pay income tax in instalments during the financial year itself, instead of a lump sum at the end of the year.
Collection of Tax at Source (TCS)
Section 394 of the Income Tax Act, 2025 governs the provisions relating to Tax Collection at Source (TCS). It requires specified persons to collect tax at prescribed rates on certain transactions at the time of receipt or booking of income. Read with Rule 218, it also specifies the timelines and manner for depositing such tax with the Central Government.