Income TaX

Every company liable to minimum alternate tax must have an accountant certify its book profit in Form 29B. This guide covers who still falls within MAT after the concessional regimes, how book profit is built up from the profit and loss account, MAT credit, the filing deadline, UDIN, and the move to section 206 under the Income-tax Act, 2025.

Alternate minimum tax is the non-corporate mirror of MAT, and Form 29C is the accountant’s report certifying adjusted total income. This guide covers who AMT actually catches, the deduction-driven trigger that surprises LLPs and firms, the exemption threshold for individuals, AMT credit, UDIN, and the new section 206.

If you failed to deduct TDS but the payee filed a return and paid the tax, the first proviso to section 201(1) means you are not treated as an assessee in default. Form 26A, with the accountant’s certificate in Annexure A, is how you prove it. This guide covers the conditions, the TRACES process, what it does and does not save you from, UDIN, and the new section 398.

Form 27BA is the TCS counterpart of Form 26A. Where tax was not collected at source but the buyer has filed a return and paid the tax due, the first proviso to section 206C(6A) prevents the collector being treated in default. This guide covers the conditions, the accountant’s certificate, the interest that still applies, UDIN, and the new section 398.

An electoral trust is exempt under section 13B only if it distributes at least 95 per cent of what it receives and keeps proper records of contributors and recipients. Form 10BC is the audit report that evidences it. This guide covers the conditions, the reporting, UDIN, and the move to section 12 read with Schedule VIII under the Income-tax Act, 2025.

The investment division of an offshore banking unit claiming exemption under section 10(4D) must file an annual statement in Form 10-IK and an accountant’s verification in Form 10-IL. This guide covers Rule 21AJA, the separate-books requirement, how the two forms work together, UDIN, and the Schedule VI position under the Income-tax Act, 2025.

Form 10B is the larger of the two audit reports a registered trust or institution can be required to file. This guide explains the three triggers that force you into 10B rather than 10BB, the reporting it demands, the consequences of filing the wrong form, UDIN, and where the audit obligation sits under the Income-tax Act, 2025.

Form 10BB is the shorter audit report available to registered trusts and institutions that stay below all three thresholds. This guide sets out exactly who qualifies, what changed when the forms were rewritten in 2023, why filing 10BB when 10B was required is a real problem, UDIN, and the position under the Income-tax Act, 2025.

A notified pension fund claiming the section 10(23FE) exemption on Indian infrastructure income must have an accountant certify its compliance in Form 10BBC. This guide covers the Rule 2DB conditions, how the pension fund route differs from the sovereign wealth fund route, the borrowing prohibition, UDIN, and the Schedule V position under the Income-tax Act, 2025.

Before most payments leave India for a non-resident, a Chartered Accountant must certify the tax position in Form 15CB. This guide covers when 15CB is actually required and when it is not, how it pairs with Form 15CA, the treaty and TRC questions that decide the rate, UDIN, and the renumbering to Form 146 under the Income-tax Act, 2025.