Notification No. : No. 1/2025

Date : January 2, 2025.

Summary: This notification, under section 197A of the Income-tax Act, 1961, grants an exemption stating that no income-tax deduction under Chapter XVII of the Act shall be made on payments received by the National Credit Guarantee Trustee Company Limited. This company is established and wholly financed by the Central Government to operate credit guarantee funds.

Notification No. : No. 2/2025

Date : 2nd January, 2025

Summary: The Central Government has notified that no income tax deduction (TDS) is required on payments received by credit guarantee funds that are wholly financed by the Government and managed by the National Credit Guarantee Trustee Company Limited. This exemption applies under Chapter XVII of the Income-tax Act, 1961, specifically regarding funds detailed in Section 10(46B)(ii). The notification comes into force immediately upon its publication in the Official Gazette.

Notification No. : No. 3/2025

Date : 2nd January, 2025

Summary: The Central Government has notified that buyers are exempt from deducting tax under Section 194Q when purchasing goods from International Financial Services Centre (IFSC) Units, provided the seller furnishes a declaration opting for Section 80LA deductions for ten consecutive years. This exemption applies only during the specific years declared by the seller, and the buyer must report these payments in their TDS statements. The notification comes into force on January 1, 2025.

Notification No. : Notification No. 4 /2025

Date : 17th January, 2025

Summary:The Central Government has notified that no deduction of income-tax under Chapter XVII shall be made on payments received by an entity whose income is exempt under Section 10(46) of the Income-tax Act, 1961. This exemption is subject to the entity furnishing a declaration to the payer. The notification is effective from the date of its publication in the Official Gazette.

Notification No. : Notification No. 5/2025

Date : 17th January, 2025

Summary: The Central Government has specified that the provisions of Section 194Q (TDS on payment for purchase of goods) shall not apply to the buyer if the seller is a person whose income is exempt under Section 10(46) of the Income-tax Act, 1961. This exemption applies only to payments received by the seller from the specified authority/body/trust. This notification comes into effect from 1st January, 2025.

Notification No. :No. 6/2025

Date : 17th January, 2025

Summary:The Central Government has notified that no deduction of income-tax under Chapter XVII shall be made on payments received by an entity whose income is exempt under Section 10(46) of the Income-tax Act, 1961. This exemption is subject to the entity furnishing a declaration to the payer. The notification is effective from the date of its publication in the Official Gazette.

Notification No. :No. 7/2025

Date : 20th January, 2025

Summary:The Central Government has amended the Income-tax Rules, 1962 to revise Form No. 49A (Application for allotment of Permanent Account Number or PAN) and Form No. 49AA (Application for allotment of PAN for persons not being citizens of India). These amendments update the formats and instructions within the forms. This notification is effective from the date of its publication in the Official Gazette.

Notification No. :No. 8/2025

Date : 20th January, 2025

Summary:The Central Government has notified that no deduction of income-tax under Chapter XVII shall be made on payments received by an entity whose income is exempt under Section 10(46) of the Income-tax Act, 1961. This exemption is subject to the entity furnishing a declaration to the payer. The notification is effective from the date of its publication in the Official Gazette.

Notification No. : No. 9/2025

Date : 20th January, 2025

Summary:The Central Government has specified that the provisions of Section 194Q (TDS on payment for purchase of goods) shall not apply to the buyer if the seller is a person whose income is exempt under Section 10(46) of the Income-tax Act, 1961. This exemption applies only to payments received by the seller from the specified authority/body/trust. This notification comes into effect from 1st January, 2025.

Notification No. : 20th January, 2025

Date : No. 10/2025

Summary:The Central Government has amended the rules regarding the filing of the Statement of Financial Transaction (SFT) by the Registrar/Sub-Registrar. The amendment specifies that the threshold value for reporting the purchase or sale of immovable property is thirty lakh rupees or more. This notification is effective from the date of its publication in the Official Gazette.

Notification No. :No. 11/2025

Date : 20th January, 2025

Summary:The Central Government has specified that the provisions of Section 194Q (TDS on payment for purchase of goods) shall not apply to the buyer if the seller is a person whose income is exempt under Section 10(46) of the Income-tax Act, 1961. This exemption applies only to payments received by the seller from the specified authority/body/trust. This notification comes into effect from 1st January, 2025.

Notification No. : No. 12/2025

Date : 20th January, 2025

Summary:The Central Government has amended rules relating to the Tax Deduction and Collection Account Number (TAN), specifically modifying the format of the Acknowledgement of Application for Allotment of TAN (Form No. 49B). The changes update the form's instructions regarding the required supporting documents for the application. This notification is effective from the date of its publication in the Official Gazette

Notification No. : No. 13/2025

Date :7th February, 2025

Summary:This notification amends Rule 2F of the Income-tax Rules, 1962, governing the structure and investment of Infrastructure Debt Funds (IDFs). IDFs must be set up as an RBI-regulated NBFC and can only invest in post-commencement operation date projects or toll-operate-transfer projects. It prohibits an IDF from investing in any project where its specified shareholder (holding 30% or more voting power) or associated enterprise has a substantial interest.

Notification No. : No. 14/2025

Date :7th February, 2025

Summary:This notification amends Rule 114DA of the Income-tax Rules and substitutes Form No. 49C with a new e-Form for non-resident Liaison Offices in India. The new, extensive Form 49C requires detailed financial, activity, and group entity information for the non-resident person. The Annual Statement must now be submitted within eight months from the end of the relevant financial year.

Notification No. : No. 15/2025

Date :10th February, 2025

Summary:This notification approves 'Bhaikaka University' in Anand, Gujarat, for the purpose of 'Scientific Research' under section 35(1)(ii) of the Income-tax Act. It is approved under the category of 'University, college or other institution.' The approval is valid for a five-year period, covering the Assessment Years 2025-26 to 2029-30.

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Notification No. : No. 16/2025

Date :12th February, 2025

Summary:This notification, under section 10(46A) of the Income-tax Act, officially notifies the Real Estate Regulatory Authority, Punjab (RERA). The notification is for the purpose of tax exemption, recognizing RERA as an authority constituted under The Real Estate (Regulation and Development) Act, 2016. This exemption is effective from the Assessment Year 2024-25.

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Notification No. : No. 17/2025

Date :24th February, 2025

Summary:This notification amends the Income-tax Rules, 1962, with a focus on the taxation framework for business trusts. It substitutes Rule 12CA, which outlines the mandatory statement of income distributed by a business trust to its unit holders. It also updates the various codes used in related forms for reporting Long-term and Short-term Capital Gains.

Access Full Notification: CBDT Amends Income Tax Rules 12CA & 12CC: New Due Dates forStatements on Income Distribution by Business & Securitisation Trusts

Notification No. : No. 18/2025

Date :6th March, 2025

Summary:This notification grants an income tax exemption to 'The Delhi Building and Other Construction Workers Welfare Board' under section 10(46). The specified income sources exempted include Cess received, Registration & Renewal fees, and Interest on bank deposits. Crucially, this exemption is deemed to have been applied retrospectively for the Assessment Years 2012-13, 2013-14, and 2014-15.

Notification No. : No. 19/2025

Date :11th March, 2025

Summary:This notification specifies the "Ten Year Zero Coupon Bond of Power Finance Corporation Ltd." as a zero coupon bond under section 2(48) of the Income-tax Act. The bond has a life of ten years and one month, maturing for ₹1,00,000/- with a discount of ₹49,546/- per bond. The issue of the bond is scheduled to be on or before March 31, 2027.

Access Full Notification:CBDT Introduces Ten-Year Zero Coupon Bond by Power Finance CorporationLtd. with Tax Benefits

Notification No. : No. 20/2025

Date :18th March, 2025

Summary:This notification, issued under section 138(1)(a)(ii) of the Income-tax Act, specifies a competent authority for information sharing. The specified authority is the 'Additional Chief Secretary (IT), GNCTD' (Government of National Capital Territory of Delhi). The purpose is to share information regarding Income-tax payers to facilitate the identification of eligible beneficiaries under GNCTD's social welfare schemes.

Notification No. : No. 21/2025

Date :25th March, 2025

Summary:This notification amends the Safe Harbour Rules (Rules 10TA and 10TD) related to international transactions under the Income-tax Act. It expands the scope of "eligible international transactions" to include those relating to "lithium ion batteries for use in electric or hybrid electric vehicles." The applicability of the Safe Harbour Rules for certain transactions is extended up to Assessment Year 2026-27.

Notification No. : No. 22/2025

Date :27th March, 2025

summary:This notification amends the Income-tax Rules, 1962, to update Forms 26Q and 27Q for Tax Deducted at Source (TDS) reporting. It introduces a new TDS code, '194T', to specifically report TDS on various payments made to a partner of a firm. These covered payments include salary, remuneration, commission, bonus, or interest to a partner.

Notification No. : No. 23/2025

Date :28th March, 2025

Summary:This notification amends the Income-tax Rules, 1962, by substituting and inserting clauses in Form No. 3CD (the Tax Audit Report). A key insertion is Clause 36B requiring details of amounts received for the buyback of shares referred to in section 2(22)(f). The Income-tax (Eighth Amendment) Rules, 2025, shall come into force on April 1, 2025.

Access Full Notification: CBDT Updates Form 3CD: New Disclosure Rules for MSME Payments, ShareBuybacks, and Loans

Notification No. : No. 24/2025

Date :28th March, 2025

Summary: The Ministry of Finance's Notification S.O. 1510(E) of March 28, 2025, notifies the Karnataka Urban Water Supply & Drainage Board, Bangalore (PAN AAATK5837F), for exemption under clause (46) of section 10 of the Income-tax Act, 1961, for its specified income. The specified income includes various charges, penalties, and interest on bank deposits. This exemption is subject to the conditions that the Board shall not engage in any commercial activity, its activities and nature of specified income remain unchanged, and it files a return of income , and it is applicable for the assessment years 2024-2025 to 2028-2029

Notification No: No. 25/2025

Date :3rd April, 2025

Summary:This notification amends Rule 114 of the Income-tax Rules by inserting a new sub-rule (5AA). It mandates that persons allotted a PAN based on their Aadhaar Enrolment ID filed prior to October 1, 2024, must intimate their Aadhaar number. This intimation must be made to the Principal Director General of Income-tax (Systems) or the person authorised by the said authorities

Notification No: No. 26/2025

Date :3rd April, 2025

Summary:This notification specifies a deadline for intimation of Aadhaar by individuals allotted PAN based on their Aadhaar Enrolment ID. The requirement applies to those who filed the Aadhaar application form prior to the 1st day of October, 2024. They must intimate their Aadhaar number to the specified income-tax authorities on or before the 31st day of December, 2025.

Notification No: No. 27/2025

Date :4th April, 2025

Summary:This notification, under section 197A(1F), specifies that no Tax Deduction at Source (TDS) shall be made under section 194EE. The exemption applies to the payment of amounts withdrawn by an assessee, who is an individual, under section 80CCA(2)(a). This exemption is effective for withdrawals made on or after the date of publication of this notification (April 4, 2025).

Notification No: No. 28/2025

Date :7th April, 2025

Summary:This notification notifies the Greater Mohali Area Development Authority (GMADA) for the purpose of tax exemption under section 10(46A) of the Income-tax Act. GMADA is an authority constituted under The Punjab Regional and Town Planning and Development Act, 1995. The notification is effective from the Assessment Year 2024-25, subject to the Authority meeting specified conditions.

Notification No: No. 29/2025

Date :7th April, 2025

Summary:This notification notifies the Prayagraj Mela Pradhikaran, Prayagraj, for the purpose of tax exemption under section 10(46A) of the Income-tax Act. The Pradhikaran is an authority constituted under the Uttar Pradesh Prayagraj Mela Authority, Allahabad Act, 2017. The notification is effective from the Assessment Year 2024-25, subject to the Authority meeting specified conditions.

Notification No: No. 30/2025

Date :7th April, 2025

Summary:This notification amends the Income-tax Rules, 1962, by inserting new Rule 12AE for filing the return of income under section 158BC (block assessment). It specifies that the return for searches/requisitions made on or after September 1, 2024, shall be furnished in Form ITR-B. The rules are deemed to have come into force retrospectively from the 1st day of September, 2024

Notification No: No. 31/2025

Date :7th April, 2025

Summary:This notification notifies bonds issued by the Housing and Urban Development Corporation Limited (HUDCO) as a 'long-term specified asset' under section 54EC. The bonds must be redeemable after five years and issued on or after April 1, 2025, to qualify for Capital Gains exemption. HUDCO must utilize the proceeds exclusively for infrastructure projects that can service the debt out of their own revenues.

Notification No: No. 32/2025

Date :8th April, 2025

Summary:This notification specifies the last date for filing a declaration under the Direct Tax Vivad se Vishwas Scheme, 2024. The scheme operates under section 89 of the Finance (No. 2) Act, 2024. The deadline for a declarant to file the declaration in respect of tax arrear to the designated authority is the 30th day of April, 2025.

Notification No: No. 33/2025

Date :17th April, 2025

Summary:This notification approves 'KIMS Foundation and Research Centre', Hyderabad, for the purpose of 'Scientific Research' under section 35(1)(ii) of the Income-tax Act. It is approved under the category of 'University, College or Other Institution'. The approval is effective for a five-year period, covering the Assessment Years 2026-27 to 2030-31.

Notification No: No. 34/2025

Date :17th April, 2025

Summary:This notification specifies the "Ten Year Zero Coupon Bond of Housing and Urban Development Corporation Ltd. (HUDCO)" as a zero coupon bond under section 2(48). The bond has a life of ten years and one month and is to be issued on or before March 31, 2027. HUDCO must utilize the proceeds exclusively for infrastructure projects that are self-servicing, without dependency on State Governments for debt service.

Notification No: No. 35/2025

Date :22th April, 2025

Summary:The Income-tax (Eleventh Amendment) Rules, 2025, amends the Income-tax Rules, 1962. The amendment inserts new codes in the table of Form No. 27EQ (Quarterly Statement of Tax Collected at Source or TCS). The new codes cover TCS under Section 206C on the sale of high-value goods like art pieces, yachts, and luxury accessories.

Access Full Notification: CBDT Revises Form 27EQ: TCS Applicable on Luxury Items including Sale ofYacht, Home Theater

Notification No: No. 36/2025

Date :22th April, 2025

Summary:The Central Government notifies a list of high-value luxury goods (e.g., watches, yachts, art pieces) with a value exceeding ten lakh rupees. These specified goods are subjected to Tax Collection at Source (TCS) under Section 206C(1F)(ii) of the Income-tax Act.

Notification No: No. 37/2025

Date :22th April, 2025

Summary:The Central Government notifies the "National Mission for Clean Ganga" for the purpose of Section 10(46A) of the Income-tax Act. This action grants income-tax exemption to the authority, effective from the Assessment Year 2024-25. Date: 22nd April, 2025.

Notification No: No. 38/2025

Date :23th April, 2025

Summary:This notification disallows any deduction under Section 37(1) of the Income-tax Act for expenditure incurred to settle proceedings related to contraventions or defaults. The disallowance specifically applies to settlements under laws like the SEBI Act, Depositories Act, and Competition Act.

Access Full Notification: CBDT Issues FAQs on Settlement Expenses Disallowance u/s 37 of Income TaxAct

Notification No: No. 39/2025

Date :24th April, 2025

Summary:The Central Government specifies the 'Mysore Palace Board' for the purpose of Section 10(46) of the Income-tax Act. This grants income-tax exemption for specified incomes like income from Palace property, fees, and rent from shops/stalls.

Notification No: No. 40/2025

Date :29th April, 2025

Summary:The Income-tax (Twelfth Amendment) Rules, 2025, modifies Rule 12 of the Income-tax Rules, 1962. This change clarifies that a person cannot file ITR-1 (SAHAJ) if they have any loss or income under the heading "Capital gains."

Access Full Notification: Income Tax Return: CBDT notifies Revised ITR Forms 1 and 4

Notification No: No. 41/2025

Date :30th April, 2025

Summary:The Income-tax (Thirteenth Amendment) Rules, 2025, amends the Income-tax Rules, 1962. The amendment substitutes the existing Income Tax Return Form ITR-3 for individuals and HUFs having income from profits and gains of business or profession.

Access Full Notification: CBDT Notifies Revised ITR-3 Form for AY 2025-26

Notification No: No. 42/2025

Date :1st May, 2025

Summary:The Income-tax (Fourteenth Amendment) Rules, 2025, amends the Income-tax Rules, 1962. It substitutes the existing Income Tax Return Form ITR-5 for various persons like firms, LLPs, AOP/BOI, etc.

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Notification No: No. 43/2025

Date :3rd May, 2025

Summary:The Income-tax (Fifteenth Amendment) Rules, 2025, amends the Income-tax Rules, 1962. It substitutes the existing Income Tax Return Form ITR-2 for individuals and Hindu Undivided Families (HUFs) not having income from business or profession

Access Full Notification: CBDT notifies Revised Income Tax Return Form ITR-2

Notification No: No. 44/2025

Date :6th May, 2025

Summary:The Income-tax (Sixteenth Amendment) Rules, 2025, amends the Income-tax Rules, 1962. The amendment substitutes the existing Income Tax Return Form ITR-6 for companies other than those claiming exemption under section 11.

Access Full Notification: Income TaxReturns: CBDT notifies ITR Form 6 for AY 2025-26, Know Complete Changes Here

Notification No: No. 45/2025

Date :7th May, 2025

Summary:The Income-tax (Seventeenth Amendment) Rules, 2025, substitutes the existing Form ITR-V. This new form, "INDIAN INCOME TAX RETURN VERIFICATION FORM," is for electronic returns that are not verified electronically.

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Notification No: No. 46/2025

Date :9th May, 2025

Summary:The Income-tax (Eighteenth Amendment) Rules, 2025, amends the Income-tax Rules, 1962. The amendment substitutes the existing Income Tax Return Form ITR-7 for persons required to file returns under specific sections like 139(4A), 139(4B), 139(4C), or 139(4D).

Access Full Notification: Income TaxReturn: CBDT Notifies ITR Form 7 for AY 2025-26

Notification No: No. 47/2025

Date :13th May, 2025

Summary:The Central Government notifies the 'Telangana State Pollution Control Board' for income-tax exemption under Section 10(46) of the Income-tax Act. The specified income includes consent fees, analysis fees, grants from Governments, and interest on certain earnings.

Notification No: No. 48/2025

Date :14th May, 2025

Summary:The Central Government specifies a Ten Year Zero Coupon Bond of Indian Railway Finance Corporation Ltd. (IRFC). This bond is specified for the purposes of Section 2(48) of the Income-tax Act, 1961.

Notification No: No. 49/2025

Date :19th May, 2025

Summary:The Income-tax (Nineteenth Amendment) Rules, 2025, substitutes the existing Form ITR-U. The new form is the "INDIAN INCOME TAX UPDATED RETURN" for updating income. The updated return can be filed within forty-eight months from the end of the relevant assessment year.

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Notification No: No. 50/2025

Date :29th May, 2025

Summary:This Corrigendum amends the previous Income-tax Rules notification (No. 41/2025, G.S.R. 279(E)) for ITR-3. It substitutes the table for Schedule 80-IE to allow for deductions on multiple undertakings located in the North-East states.

Notification No: No. 51/2025

Date :29th May, 2025

Summary:This Corrigendum amends the previous Income-tax Rules notification (No. 43/2025, G.S.R. 286(E)) for ITR-2. It substitutes the table for Schedule 80-IE to allow for deductions on multiple undertakings located in the North-East states.

Notification No: No. 52/2025

Date :30th May, 2025

Summary:The Central Government specifies a Ten Year Zero Coupon Bond of REC Ltd. (formerly Rural Electrification Corporation Ltd.). This bond is specified for the purposes of Section 2(48) of the Income-tax Act, 1961, with a life of ten years six months

Notification No: No. 53/2025

Date :30th May, 2025

Summary:This Corrigendum amends the previous Income-tax Rules notification (No. 44/2025, G.S.R. 290(E)) for ITR-6. It corrects a field reference in Schedule CG and substitutes Schedule 80-IE to include the state of Sikkim for deductions.

Notification No: No. 54/2025

Date :3rd June,2025

Summary:The Central Government specifies the 'Secretary to the Government of Maharashtra, Women and Child Development' for the purpose of sharing Income-tax information. This sharing is permitted under Section 138(1)(a)(ii) of the Income-tax Act. The information is to be used for identifying eligible beneficiaries under the Mukhyamantri Mazi Ladki Bahin Yojana.

Access Full Notification:CentreAuthorizes Maharashtra Women and Child Development Secretary to Access IncomeTax Data

Notification No: No. 55/2025

Date :10thJune,2025

Summary:The Central Government notifies the "Greater Noida Industrial Development Authority" (GNIDA) for income-tax exemption. The exemption is granted for specific income under Section 10(46A) of the Income-tax Act, effective from the Assessment Year 2024-25.

Notification No: No. 56/2025

Date :12thJune,2025

Summary:The Central Government specifies a new Zero Coupon Bond of The National Bank for Agriculture and Rural Development (NABARD). This bond is specified for the purposes of Section 2(48) of the Income-tax Act, 1961, with a life of nearly eleven years.

Access Full Notification: CBDT notifiesNABARD Bonds as Zero Coupon Bonds Worth ₹19,500 Crore u/s 2(48) of Income TaxAct

Notification No: No. 57/2025

Date :16thJune,2025

Summary:The Central Government notifies the 'Haryana Real Estate Regulatory Authority, Gurugram' for income exemption under Section 10(46) of the Income-tax Act, 1961. The specified income includes grants, loans from the Government, and fees/penalties received under the RERA Act, 2016, along with interest earned on these amounts. The exemption is deemed applied for Assessment Years (A.Y.) 2019-20 to 2023-24, conditional on the Authority not engaging in commercial activity and filing a return of income

Notification No: No. 58/2025

Date :16th June,2025

Summary:The 'Treasurer Charitable Endowments, Haryana' is notified for income exemption under Section 10(46) of the Income-tax Act, 1961. The income specified for exemption is strictly limited to grants for the National Workers Relief Fund and interest earned on bank deposits. This exemption is deemed effective from A.Y. 2015-2016 to 2019-2020, subject to the authority avoiding commercial activity and filing a return of income.

Notification No: No. 59/2025

Date :16th June,2025

Summary:The 'Himachal Pradesh Board of School Education, Dharamshala' is notified for income exemption under Section 10(46) of the Income-tax Act, 1961. Specified income includes State Government grants, fees/charges levied under its Act, income from the sale of educational material, and interest on bank deposits. The exemption is deemed applied for A.Y. 2020-2021 to 2023-2024, provided the Board does not engage in commercial activity and files an income return.

Notification No: No.60/2025

Date :16th June,2025

Summary:The Central Government notifies the 'Karnataka Electricity Regulatory Commission' for exemption under sub-clause (b) of Section 10(46A) of the Income-tax Act, 1961. The Commission is constituted under 'The Electricity Act, 2003'. The notification is effective from A.Y. 2025-26, on the condition that the Commission continues to operate with the purposes specified in the clause.

Access Full Notification: CBDT grants Income Tax Exemption u/s 10(46A) to Karnataka ElectricityRegulatory Commission Subject to Condition

Notification No: No.61/2025

Date :17th June,2025

Summary:The 'Puducherry Planning Authority,' constituted under the Pondicherry Town and Country Planning Act, 1969, is notified for exemption under sub-clause (b) of Section 10(46A) of the Income-tax Act, 1961. The notification is effective from A.Y. 2024-25. The exemption is subject to the Authority continuing to be constituted with one or more of the specified purposes of the clause.

Notification No: No.62/2025

Date :18th June,2025

Summary:The 'Dental Council of India,' constituted under 'The Dentists Act, 1948', is notified for exemption under sub-clause (b) of Section 10(46A) of the Income-tax Act, 1961. The notification is effective from A.Y. 2024-2025. The exemption is conditional on the Council continuing to be a body with the purposes specified in the clause.

Notification No: No.63/2025

Date :18th June,2025

Summary:The 'Yamuna Expressway Industrial Development Authority' is notified for exemption under sub-clause (b) of Section 10(46A) of the Income-tax Act, 1961. The Authority is constituted under the Uttar Pradesh Industrial Area Development Act, 1976. The notification is effective from A.Y. 2024-2025, provided the Authority continues to be constituted with the specified purposes of the clause.

Notification No: No.65/2025

Date :19th June,2025

Summary:The 'Kerala Toddy Workers' Welfare Fund Board' is notified for income exemption under Section 10(46) of the Income-tax Act, 1961. Specified income includes all sums and member contributions received under the 1969 Act, and interest earned on bank deposits. The notification is applicable for A.Y. 2022-2023 to 2026-2027, conditional on the Board avoiding commercial activity and filing a return of income.

Notification No: No.66/2025

Date :19th June, 2025

Summary:The 'Forum of Regulators' is notified for income exemption under Section 10(46) of the Income-tax Act, 1961. Specified income includes grants from the Government, membership fees from Electricity Regulatory Commissions, and interest on bank deposits. The exemption is deemed applied for A.Y. 2012-2013 to 2016-2017, provided the authority does not engage in commercial activity and files an income return.

Access Full Notification: CBDT exemptsSpecified Income of Forum of Regulators from Taxation

Notification No: No.67/2025

Date :20th June, 2025

Summary:This notification exempts certain payments from Tax Deduction at Source (TDS) under various sections (e.g., 194A, 194C, 194J). The exemption applies to payments made by any payer to a Unit in an International Financial Services Centre (IFSC) for specific receipts like professional fees, interest, or rent. The relief is conditional on the IFSC Unit providing a statement-cum-declaration (Form No. 1) and is effective from July 1, 2025.

Access Full Notification: CBDT notifies exemption from Withholding Tax for Payments Made to Unitsof International Financial Services Centre

Notification No: No.68/2025

Date :24th, June 2025

Summary:The Central Government notifies the 'Food Safety and Standards Authority of India' (FSSAI) for income exemption under Section 10(46A)(b) of the Income-tax Act. FSSAI is constituted under the Food Safety and Standards Act, 2006. The exemption is effective from Assessment Year 2026-2027, provided FSSAI continues to be constituted for the specified purposes

Access Full Notification: Centre GrantsIncome Tax Exemption to Food Safety and Standards Authority of India

Notification No: No.69/2025

Date :25th,june ,2025

Summary:This notification brings into effect the Protocol amending the Double Taxation Avoidance Agreement (DTAA) between India and the Sultanate of Oman. The Protocol was signed on January 27, 2025, and entered into force on May 28, 2025. The provisions apply in India for income derived in any fiscal year beginning on or after April 1, 2026.

Notification No: No.70/2025

Date :July 1 ,2025

Summary:This notification amends the Cost Inflation Index (CII) for calculating long-term capital gains under Section 48. It inserts a new Cost Inflation Index of 376 for the Financial Year 2025-26. The amendment is effective from April 1, 2026, and applies to A.Y. 2026-27 and subsequent years.

Access Full Notification: CBDT NotifiesCost Inflation Index at 376 for New Financial Year, Applicable from April 1

Notification No: No.71/2025

Date :July 2 ,2025

Summary:The 'Karnataka State Pollution Control Board' is notified for income exemption under Section 10(46) of the Income-tax Act. Specified income includes consent fees, analysis charges, Environmental Compensation fees, government grants, and interest income. The exemption is applicable for Assessment Years 2024-25 to 2028-29, conditional on the Board not engaging in commercial activity.

Notification No: No.72/2025

Date :July 7, 2025

Summary:The Central Government notifies the 'Rajasthan Housing Board' for income exemption under Section 10(46A)(b) of the Income-tax Act. The board is constituted under the Rajasthan Housing Board Act, 1970. The exemption is effective from Assessment Year 2024-25, subject to the condition that the board continues to fulfill the specified purposes.

Notification No: No.73/2025

Date :July 9 ,2025

Summary:This notification specifies bonds issued by the Indian Renewable Energy Development Agency (IREDA) as a 'long-term specified asset' for rollover relief under Section 54EC. The bonds must be redeemable after five years. Proceeds from the bonds must be used only for renewable projects that can service debt from project revenues.

Notification No: No.74/2025

Date :July 11, 2025

Summary:This is an amendment to a previous notification concerning the investment period for foreign funds to avail tax exemption under Section 10(23FE). The original end date of March 31, 2025, is replaced with March 31, 2030. This extends the time limit for making the qualifying investment to avail the tax exemption

Notification No: No.75/2025

Date :July 11, 2025

Summary:The Ministry of Finance has amended its previous notification under the Income-tax Act, 1961, extending the deadline from "31st March 2025" to "31st March 2030." This amendment applies to clause (23FE) of section 10 and is effective from April 1, 2025, until the notification's publication date. The original notification was issued on April 19, 2021, and amended on July 18, 2024.

Notification No: No.76/2025

Date :July 11, 2025

Summary:This notification amends an earlier notification under clause (23FE) of section 10 of the Income-tax Act, 1961. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The amendment is effective from the publication date, except for things done/omitted from April 1, 2025.

Notification No: No.77/2025

Date :July 11, 2025

Summary:The Central Government has amended the notification dated 22nd April 2021 under section 10(23FE) of the Income-tax Act, 1961, extending the deadline from "31st March 2025" to "31st March 2030." This amendment applies retrospectively from 1st April 2025 until the publication date of this notification.

Notification No: No.78/2025

Date :July 11, 2025

Summary:The notification issued by the Ministry of Finance on 11th July 2025 amends the previous notification (S.O. 1732(E), dated 4th May 2021) under clause (23FE) of section 10 of the Income-tax Act, 1961. It extends the validity of the specified provisions from "31st March 2025" to "31st March 2030." This amendment applies retrospectively from 1st April 2025.

Notification No: No.79/2025

Date :July 11, 2025

Summary:This notification amends an earlier notification under clause (23FE) of section 10 of the Income-tax Act, 1961. The original date of "31st day of March, 2025" is substituted with "31st day of March, 2030", effectively extending the benefit. The amendment is prospective, not covering the period from April 1, 2025, until its publication date

Notification No: No.80/2025

Date :July 11, 2025

Summary:This notification amends an earlier notification under clause (23FE) of section 10 of the Income-tax Act, 1961. It substitutes the earlier date "31st day of March, 2025" with "31st day of March, 2030", extending the period. The change is not applicable to actions done or omitted from April 1, 2025, until the publication of this notification.

Notification No: No.81/2025

Date :July 11, 2025

Summary:This notification amends an earlier notification under clause (23FE) of section 10 of the Income-tax Act, 1961. The original date "31st day of March, 2025" is substituted with "31st day of March, 2030", extending its validity. This amendment does not cover actions or omissions that occurred between April 1, 2025, and the publication date.

Notification No: No.82/2025

Date :July 11, 2025

Summary:This notification amends an earlier notification under clause (23FE) of section 10 of the Income-tax Act, 1961. The words "31st day of March, 2025" are replaced with "31st day of March, 2030", extending the original notification's operative period. The amendment is not effective for things done or omitted between April 1, 2025, and the publication date.

Notification No: No.83/2025

Date :July 11, 2025

Summary:This notification amends an earlier notification under clause (23FE) of section 10 of the Income-tax Act, 1961. The expiry date is extended by substituting "31st day of March, 2025" with "31st day of March, 2030". The change is not effective for actions done or omitted between April 1, 2025, and the publication date.

Notification No: No.84/2025

Date :July 11, 2025

Summary:This notification amends an earlier notification under clause (23FE) of section 10 of the Income-tax Act, 1961. It extends the original notification by substituting "31st day of March, 2025" with "31st day of March, 2030". The extension does not cover things done or omitted on and from April 1, 2025, till the date of publication.

Notification No: No.85/2025

Date :July 11, 2025

Summary:This notification amends an order issued under sub-clause (vi) of clause (b) of Explanation 1 to Section 10(23FE) of the IT Act. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The extension excludes actions done/omitted from April 1, 2025, until this notification's publication dat

Notification No: No.86/2025

Date :July 11, 2025

Summary:This notification amends an order issued under sub-clause (vi) of clause (b) of Explanation 1 to Section 10(23FE) of the IT Act. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The extension excludes actions done/omitted from April 1, 2025, until this notification's publication date.

Notification No: No.87/2025

Date :July 11, 2025

Summary:This notification amends an order issued under sub-clause (vi) of clause (b) of Explanation 1 to Section 10(23FE) of the IT Act. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The extension excludes actions done/omitted from April 1, 2025, until this notification's publication date.

Notification No: No.88/2025

Date :July 11, 2025

Summary:This notification amends an order issued under sub-clause (vi) of clause (b) of Explanation 1 to Section 10(23FE) of the IT Act. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The extension excludes actions done/omitted from April 1, 2025, until this notification's publication date.

Notification No: No.89/2025

Date :July 11, 2025

Summary:This notification amends an order issued under sub-clause (iv) of clause (c) of Explanation 1 to Section 10(23FE) of the IT Act. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The extension excludes actions done/omitted from April 1, 2025, until this notification's publication date

Notification No: No.90/2025

Date :July 11, 2025Summary:This notification amends an order issued under sub-clause (iv) of clause (c) of Explanation 1 to Section 10(23FE) of the IT Act. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The extension excludes actions done/omitted from April 1, 2025, until this notification's publication date

Notification No: No.91/2025

Date :July 11, 2025

Summary:This notification amends an order issued under sub-clause (iv) of clause (c) of Explanation 1 to Section 10(23FE) of the IT Act. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The extension excludes actions done/omitted from April 1, 2025, until this notification's publication date.

Notification No: No.92/2025

Date :July 11, 2025

Summary:This notification amends an order issued under sub-clause (iv) of clause (c) of Explanation 1 to Section 10(23FE) of the IT Act. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The extension excludes actions done/omitted from April 1, 2025, until this notification's publication date

Notification No: No.93/2025

Date :July 11, 2025

Summary:This notification amends an order issued under sub-clause (iv) of clause (c) of Explanation 1 to Section 10(23FE) of the IT Act. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The extension excludes actions done/omitted from April 1, 2025, until this notification's publication date.

Notification No: No.94/2025

Date :July 11, 2025

Summary:This notification amends an order issued under sub-clause (iv) of clause (c) of Explanation 1 to Section 10(23FE) of the IT Act. It substitutes "31st day of March, 2025" with "31st day of March, 2030", thereby extending the original notification's applicability. The extension excludes actions done/omitted from April 1, 2025, until this notification's publication date

Notification No: No.95/2025

Date :July 11, 2025

Summary:Amends a previous notification under sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act. The amendment extends the expiry date from March 31, 2025, to March 31, 2030. It applies except for things done or omitted between April 1, 2025, and the publication date.

Notification No: No.96/2025

Date :July 11, 2025

Summary:Amends a previous notification under sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act. The amendment extends the expiry date from March 31, 2025, to March 31, 2030. It applies except for things done or omitted between April 1, 2025, and the publication date.

Notification No: No.97/2025

Date :July 11, 2025

Summary:Amends a previous notification under sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act. The amendment extends the expiry date from March 31, 2025, to March 31, 2030. It applies except for things done or omitted between April 1, 2025, and the publication date.

Notification No: No.98/2025

Date :July 11, 2025

Summary:Amends a previous notification under sub-clause (vi) of clause (b) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act. The amendment extends the expiry date from March 31, 2025, to March 31, 2030. It applies except for things done or omitted between April 1, 2025, and the publication date.

Notification No: No.99/2025

Date :July 11, 2025

Summary:Amends a previous notification under sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act. The amendment extends the expiry date from March 31, 2025, to March 31, 2030. It applies except for things done or omitted between April 1, 2025, and the publication date.

Notification No: No.100/2025

Date :July 11, 2025

Summary:Amends a previous notification under sub-clause (vi) of clause (b) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act. The amendment extends the expiry date from March 31, 2025, to March 31, 2030. It applies except for things done or omitted between April 1, 2025, and the publication date.

Notification No: No.101/2025

Date :July 11, 2025

Summary:Amends a previous notification under sub-clause (vi) of clause (b) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act. The amendment extends the expiry date from March 31, 2025, to March 31, 2030. It applies except for things done or omitted between April 1, 2025, and the publication date.

Notification No: No.104/2025

Date :July 11, 2025

Summary:Amends a previous notification under sub-clause (vi) of clause (b) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act. The amendment extends the expiry date from March 31, 2025, to March 31, 2030. It applies except for things done or omitted between April 1, 2025, and the publication date.

Notification No: No.105/2025

Date :July 11, 2025

Summary:Amends a previous notification concerning a tax exemption under Section 10(23FE) of the Income-tax Act, 1961. The main provision's validity period is extended by substituting March 31, 2025, with March 31, 2030. This extension is effective retrospectively from April 1, 2025

Notification No: No.106/2025

Date :July 11, 2025

Summary:Amends a previous notification concerning a tax exemption under Section 10(23FE) of the Income-tax Act, 1961. The main provision's validity period is extended by substituting March 31, 2025, with March 31, 2030. This extension is effective retrospectively from April 1, 2025.

Notification No: No.107/2025

Date :July 11, 2025

Summary:Amends a previous notification concerning a tax exemption under Section 10(23FE) of the Income-tax Act, 1961. The main provision's validity period is extended by substituting March 31, 2025, with March 31, 2030. This extension is effective retrospectively from April 1, 2025

Notification No: No.108/2025

Date :July 11, 2025

Summary:Amends a previous notification concerning a tax exemption under Section 10(23FE) of the Income-tax Act, 1961. The main provision's validity period is extended by substituting March 31, 2025, with March 31, 2030. This extension is effective retrospectively from April 1, 2025.

Notification No: No.109/2025

Date :July 11, 2025

Summary:Amends a previous notification concerning a tax exemption under Section 10(23FE) of the Income-tax Act, 1961. The main provision's validity period is extended by substituting March 31, 2025, with March 31, 2030. This extension is effective retrospectively from April 1, 2025.

Notification No: No.110/2025

Date :July 11, 2025

Summary:Amends a previous notification concerning a tax exemption under Section 10(23FE) of the Income-tax Act, 1961. The main provision's validity period is extended by substituting March 31, 2025, with March 31, 2030. This extension is effective retrospectively from April 1, 2025.

Notification No: No.111/2025

Date :July 11, 2025

Summary:Amends a previous notification concerning a tax exemption under Section 10(23FE) of the Income-tax Act, 1961. The main provision's validity period is extended by substituting March 31, 2025, with March 31, 2030. This extension is effective retrospectively from April 1, 2025

Notification No: No.112/2025

Date :July 11, 2025

Summary:Amends a previous notification concerning a tax exemption under Section 10(23FE) of the Income-tax Act, 1961. The main provision's validity period is extended by substituting March 31, 2025, with March 31, 2030. This extension is effective retrospectively from April 1, 2025

Notification No: No.113/2025

Date :July 11, 2025

Summary:Amends a previous notification concerning a tax exemption under Section 10(23FE) of the Income-tax Act, 1961. The main provision's validity period is extended by substituting March 31, 2025, with March 31, 2030. This extension is effective retrospectively from April 1, 2025.

Notification No: No.114/2025

Date :July 14, 2025

Summary:Notifies the Baddi Barotiwala Nalagarh Development Authority for specific income exemptions under Section 10(46) of the Income-tax Act. The specified exempted income includes grants, revenue receipts, and bank interest, contingent upon the Authority not engaging in commercial activity. The exemption is applied retrospectively for Assessment Years 2014-15 to 2018-19.

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Notification No: No.115/2025

Date :July 14, 2025

Summary:This notification notifies 'District Legal Service Authority' in Haryana as a 'class of body' under section 10(46) of the Income-tax Act, 1961, for specified income like grants, court-ordered amounts, application fees, and interest. It is effective from Assessment Year (AY) 2024-2025, subject to conditions like not engaging in commercial activity and filing a return of income. The specified authorities include District Legal Service Authority, Gurgaon, and Mewat

Notification No: No.116/2025

Date :July 17 2025

Summary:The Central Government notifies "New Okhla Industrial Development Authority" (PAN: AAALN0120A) under sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961. This notification is effective from Assessment Year 2024-2025, provided the assessee remains an authority under the Uttar Pradesh Industrial Area Development Act, 1976, with specified purposes.

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Notification No: No.117/2025

Date :July 17 2025

Summary:This notification amends the previous notification S.O. 5323(E), dated October 16th, 2018, regarding the Prohibition of Benami Property Transactions Act, 1988. The amendments substitute the entries for serial numbers 5 and 21 in Table. The substituted entries are "Court of XII Additional Sessions Judge, Raipur" and "Special Court (Communal Riots), Jaipur," respectively.

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Notification No: No.118/2025

Date :July 18 2025

Summary:Under section 197A(1F) of the Income-tax Act, 1961, the Central Government notifies that Chapter XVII of the Act shall not apply to payments received by the "International Crops Research Institute for the Semi-Arid Tropics (ICRISAT)". This is subject to the conditions specified in the United Nations (Privileges and Immunities) Act, 1947. This notification comes into force from the date of its publication in the Official Gazette.

Notification No: No.119/2025

Date :July 18 2025

Summary:This notifies the "Andhra Pradesh Pollution Control Board" (PAN: AAAJA1610Q) under section 10(46) of the Income-tax Act, 1961, for eleven specified types of income, including various fees, grants, and interest. It is subject to conditions like not engaging in commercial activity and filing a return of income. The notification is deemed to have applied retrospectively from AY 2022-2023.

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Notification No: No.120/2025

Date :July 22,2025

Summary:"Greater Ludhiana Area Development Authority" (PAN: AAALG1055F) is notified by the Central Government under sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961. The notification is effective from Assessment Year 2024-2025, contingent on the authority continuing under the Punjab Regional and Town Planning and Development Act, 1995, with specified purposes.

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Notification No: No.121/2025

Date :July 22,2025

Summary:The Central Government notifies the "Moradabad Development Authority" (PAN: AAJFM7731M) under sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961. This is effective from Assessment Year 2024-2025, provided the assessee continues as an authority under the Uttar Pradesh Urban Planning & Development Act, 1973, with specified purposes.

Notification No: No.122/2025

Date :July 22,2025

Summary:"Andhra Pradesh Building and Other Construction Workers Welfare Board" (PAN: AAALT1405A) is notified under section 10(46) of the Income-tax Act, 1961, for specified income: Registration & Renewal fee, Cess, and Interest on bank deposits. The notification is subject to conditions like not engaging in commercial activity and filing a return of income. It is deemed to have been applied retrospectively from Assessment Years 2019-2020 to 2023-2024.

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Notification No: No.123/2025

Date :July 22,2025

Summary:'Puducherry Building and Other Construction Workers Welfare Board' (PAN: AABAP7098M) is notified under section 10(46) of the Income-tax Act, 1961, for income from Cess, Registration & Renewal fee, and Interest on bank deposits. The notification is conditional on no commercial activity and filing a return of income. It is deemed to have applied retrospectively from Financial Year 2023-2024.

Notification No: No.124/2025

Date :July 22,2025

Summary:The Central Government approves Gitarthganga (PAN: AAATG1334K), Ahmedabad, for 'Social Science or Statistical Research' under the 'Other Institution' category, as per section 35(1)(ii) read with Rules 5C and 5E of the Income-tax Act, 1961. This approval is applicable for five Assessment Years, from AY 2026-27 to AY 2030-31

Notification No: No.125/2025

Date :July 24,2025

Summary:This notification approves IQRAA International Hospital And Research Centre, Kozhikode, as an 'Other Institution' for 'Scientific Research' under section 35(1)(ii) of the I-T Act, 1961. The approval allows for tax deductions on contributions made for research and is applicable for five Assessment Years, from AY 2026-27 to AY 2030-31.

Notification No: No.126/2025

Date :July 28,2025

Summary:This notification introduces the Income-tax (Twentieth Amendment) Rules, 2025, modifying Rule 21AK concerning income exemptions for International Financial Services Centre (IFSC) units. The amendment expands the scope of exempt transactions to include 'over-the-counter derivatives' and extends the tax benefit to a 'Foreign Portfolio Investor' being an IFSC unit.

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Notification No: No.127/2025

Date :1st August,2025

Summary:This notifies the Haryana State Pollution Control Board under section 10(46) of the I-T Act, 1961, granting income tax exemption on a wide range of specified income. The exempt income includes Grants, various regulatory Fees (Consent, NOC, Analysis), Cess reimbursement, and Interest on deposits, with the exemption effective from Financial Year 2024-25.

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Notification No: No.128/2025

Date :1st August,2025

Summary:This notifies the All India Council for Technical Education (AICTE) under section 10(46) of the I-T Act, 1961, for tax exemption on its specified income. The exempt income includes Grants, Regulatory Charges, CMAT/GPAT examination fees, and Interest on bank deposits, and the exemption is deemed to apply retrospectively from Assessment Year 2024-2025.

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Notification No: No.129/2025

Date :1st August,2025

Summary:This notifies the West Bengal Municipal Development Fund Trust under section 10(46) of the I-T Act, 1961, granting income tax exemption on its specified income. The exempt income covers Interest from bank deposits, Interest on loans to Urban Local Bodies (ULBs), and upfront processing fees, with the exemption deemed to apply retrospectively from Financial Year 2021-2022.

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Notification No: No.130/2025

Date :7th August,2025

Summary:This notifies the Uttarakhand Pollution Control Board under section 10(46A)(b) of the Income-tax Act, 1961, granting it tax exemption as a statutory board. The Board is constituted under the relevant Air and Water (Prevention & Control of Pollution) Acts. The exemption is effective from Assessment Year 2025-2026.

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Notification No: No.131/2025

Date :12th August,2025

Summary:This notifies the Parambikulam Tiger Conservation Foundation under section 10(46) of the I-T Act, 1961, for tax exemption on its specified income. The specified income includes eco-tourism fees, sale of forest produce, license fees for Parambikulam-Aliyar Project, funds, and interest on bank deposits, with the exemption deemed to apply retrospectively from Assessment Year 2022-2023.

Notification No: 132/2025

Date :14th August,2025

Summary:This introduces the Income-tax (Twenty-First Amendment) Rules, 2025, which will come into force on September 1, 2025. The amendment modifies Form No. 7 (Demand Notice) in Appendix-II of the I-T Rules, 1962, to include a reference to the "or the block period" to cover demands raised from search and seizure assessments.

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Notification No: No.133/2025

Date :18th August,2025

Summary:This introduces the Income-tax (Twenty Second Amendment) Rules, 2025, to prescribe income thresholds for certain perquisite valuations under section 17(2) of the I-T Act. It inserts Rule 3C prescribing a salary income of ₹4 lakh for section 17(2)(iii)(c) and Rule 3D prescribing a gross total income of ₹8 lakh for section 17(2) proviso (vi).

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Notification No: No.134/2025

Date :19th August,2025

Summary:This notifies the Tamil Nadu Electricity Regulatory Commission under section 10(46) of the I-T Act, 1961, for income tax exemption on its specified income. The exempt income includes Government Grants, Fees levied under the Electricity Act, Penalties, and Interest on deposits, with the exemption deemed to apply retrospectively from Assessment Year 2023-2024

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Notification No: No.135/2025

Date :20th August,2025

Summary:This is the Income-tax (Twenty-Third Amendment) Rules, 2025, amending FORM No. 10CCF in Appendix II of the Income-tax Rules, 1962. The changes clarify the definition of "gross income" for an IFSC Insurance Office undertaking insurance business in serial number 6. It also specifies that the "gross eligible income" field may be submitted as 'Nil' in certain cases for such an IFSC Unit.

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Notification No: No.136/2025

Date :21th August,2025

Summary:This is the Income-tax (Twenty-Fourth Amendment) Rules, 2025, amending Rule 21AIA of the Income-tax Rules, 1962. The amendments omit sub-rule (4) and substitute the existing Explanation. The new Explanation clarifies the definition of the term "specified fund" for the purpose of the rule.

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Notification No: No.137/2025

Date :21th August,2025

Summary:The Central Government notifies the "Kanpur Development Authority" for the purposes of sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961. This is effective from the assessment year 2024-2025. The exemption is conditional on the Authority continuing to be constituted under the Uttar Pradesh Urban Planning and Development Act, 1973

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Notification No: No.138/2025

Date :22th August,2025

Summary:The 'Karnataka State Building & Other Construction Workers' Welfare Board' is notified for exemption under clause (46) of section 10 of the Income-tax Act. Specified incomes include Grants from the Central Government, Cess collected, and Interest earned on bank deposits. The notification is applicable for assessment years 2026-2027 to 2030-2031, provided the board does not engage in commercial activity.

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Notification No: No.139/2025

Date :22th August,2025

Summary:The 'Credit Guarantee Fund Trust for Animal Husbandry and Dairying' is notified for exemption under clause (46) of section 10 of the Income-tax Act. Specified income includes Guarantee Fees, Income from Mutual Funds, and Interest income from banks. The exemption applies to AY 2025-26 (deemed) and AY 2026-27 through 2029-30, conditional on the Trust not engaging in commercial activity.

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Notification No: No.1/2025 (EXEMPTIONS)

Date :27th August,2025

Summary:The Pr. Chief Commissioner of Income Tax (Exemptions) grants approval to M/s IIT Madras Research Park for the purpose of 'Scientific Research' under section 35(1)(iia) of the Income Tax Act, 1961. The approval is applicable for five Assessment Years, from AY 2026-27 to AY 2030-31.

Notification No: No.141/2025

Date :1st September,2025

Summary:This is the Income-tax (Twenty-Fifth Amendment) Rules, 2025, amending the Income-tax Rules, 1962. It amends Rule 2DCA by substituting the figures "2025-26" with "2031-32" and "2024-25" with "2030-31" in multiple parts. These amendments effectively extend the time limits relevant to investments by specified funds.

Notification No: No.142/2025

Date :2st September,2025

Summary:The Central Government notifies the "Lucknow Development Authority" for the purposes of sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961. The notification is effective from the assessment year 2024-25. This is subject to the condition that the Authority continues to be constituted under the Uttar Pradesh Urban Planning and Development Act, 1973.

Notification No: No.143/2025

Date :2nd September,2025

Summary:'The Commissioners for the Rabindra Setu' Kolkata is notified for exemption under clause (46) of section 10 of the Income-tax Act. Specified incomes include Proceeds from Taxes, Miscellaneous income, and Interest earned on bank deposits. The exemption is deemed to apply for assessment years 2024-25 through 2028-29, provided the body files returns and does not engage in commercial activity.

Notification No: No.144/2025

Date :2nd September,2025

Summary:The 'Maharashtra State Pharmacy Council' is notified for exemption under clause (46) of section 10 of the Income-tax Act. This covers Fees and Subscriptions and Interest Income. The notification is deemed to be applicable retrospectively for financial years 2018-19 to 2022-23, subject to conditions like not engaging in commercial activity.

Notification No: No.145/2025

Date :2nd September,2025

Summary:The Central Board of Secondary Education (CBSE) is notified for exemption under clause (46) of section 10 for specified incomes, including various Fees (Examination, Affiliation, Registration) and Interest Income. The notification applies for Assessment Years 2026-27 to 2030-31, conditional on CBSE not engaging in commercial activities

Notification No: No.146/2025

Date :15 September,2025

Summary:The Ghaziabad Development Authority is notified for income tax exemption under clause (46A) of section 10 of the Income-tax Act, 1961. The exemption is effective from Assessment Year 2024-2025, subject to the Authority remaining constituted under the Uttar Pradesh Urban Planning and Development Act, 1973.

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Notification No: No.147/2025

Date :15 September,2025

Summary:The Tamil Nadu Electricity Regulatory Commission is notified for income tax exemption under clause (46A) of section 10 of the Income-tax Act. This is effective from Assessment Year 2024-25, provided the Commission continues to be constituted under "The Electricity Act, 2003."

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Notification No: No.148/2025

Date :22September,2025

Summary:The Real Estate Regulatory Authority, Rajasthan, Jaipur is notified for exemption under clause (46) of section 10, covering incomes like Grants, Fees/Penalty under RERA, and Interest income. The exemption is deemed effective from AY 2023-2024 to 2027-2028, conditional on the Authority not engaging in commercial activity.

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Notification No: No.149/2025

Date :22 September,2025

Summary:The High Court Legal Services Committee, Chandigarh, is notified for exemption under clause (46) of section 10 for specified incomes like Grants, Costs, and Interest income. The exemption is deemed to apply from AY 2023-2024 up to AY 2027-2028, provided the Committee does not engage in commercial activity.

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Notification No: No.150/2025

Date :8 October,2025

Summary:The Jhansi Development Authority is notified for income tax exemption under clause (46A) of section 10 of the Income-tax Act, 1961. The exemption is effective from Assessment Year 2025-2026, conditional on the Authority remaining constituted under the Uttar Pradesh Urban Planning and Development Act, 1973.

Notification No: No.151/2025

Date :15 October,2025

Summary:The Chennai Metropolitan Water Supply and Sewerage Board is notified for income tax exemption under clause (46A) of section 10 of the I-T Act. This exemption is effective from Assessment Year 2024-2025, subject to the Board's continued constitution under the Chennai Metropolitan Water Supply and Sewerage Act, 1978.

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Notification No: No.152/2025

Date :15 October,2025

Summary:The Rajasthan State Seed and Organic Certification Agency receives income tax exemption under clause (46A) of section 10 of the I-T Act. The notification is effective from Assessment Year 2024-2025, provided the agency continues to be an authority constituted under the Seeds Act, 1966.

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Notification No: No.153/2025

Date :15 October,2025

Summary:The U.P. Awas Evam Vikas Parishad is notified for income tax exemption under clause (46A) of section 10 of the Income-tax Act, 1961. This exemption is effective from Assessment Year 2024-2025, conditional on the Parishad continuing as an authority under the relevant U.P. Act.

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Notification No: No.2/2025(EXEMPTIONS)

Date :15 October,2025

Summary:The Principal Chief Commissioner of Income Tax (Exemptions) grants approval to M/s Mazumdar Shaw Medical Foundation for 'Scientific Research' under section 35(1)(iia) of the Income Tax Act, 1961. This approval is applicable for five Assessment Years, from AY 2025-26 to AY 2029-30.

Notification No: No.3/2025(EXEMPTIONS)

Date :15 October,2025

Summary:The Principal Chief Commissioner of Income Tax (Exemptions) grants approval to M/s Institute of Advanced Medical Research & Innovations Forum for 'Scientific Research' under section 35(1)(iia) of the Income Tax Act, 1961. This approval is applicable for five Assessment Years, from A.Y. 2025-26 to A.Y. 2029-30.

Notification No: No.154/2025

Date :24 October,2025

Summary:The notification gives effect to the Double Taxation Avoidance Agreement (DTAA) and Protocol between the Government of India and the State of Qatar. The agreement was signed on February 18, 2025, and entered into force on September 10, 2025. Its provisions apply to income arising on or after the first day of the fiscal year following the calendar year of entry into force.

Notification No: No.155/2025

Date :27 October,2025

Summary:The CBDT authorizes the Commissioner of Income Tax, CPC, Bengaluru to exercise concurrent powers under Section 120 of the Income-tax Act. These powers include rectifying mistakes under Section 154 and issuing a notice of demand under Section 156. The jurisdiction applies to cases with orders passed through the Assessing Officer-CPC interface.

Notification No: No.156/2025

Date :4th November,2025

Summary:The Central Government notifies the Karnataka Housing Board under Section 10(46A) of the Income-tax Act, 1961. This grants exemption from income tax to certain income of the board. The notification is effective from the assessment year 2024-25.

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Notification No: No.157/2025

Date :6th November,2025

Summary:This notification sets the tolerance range for the Arm's Length Price (ALP) calculation under Section 92C of the Income-tax Act. The range is 1% for wholesale trading and 3% for all other international or specified domestic transactions. This provision is applicable for the Assessment Year 2025-2026.

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Notification No: No.158/2025

Date :7th November,2025

Summary: The Haryana Building and Other Construction Workers Welfare Board is notified under Section 10(46) of the Income-tax Act, 1961. Specified income, including registration fees, cess proceeds, and interest income on deposits, is exempt. The exemption is applicable for assessment years 2026-27 to 2030-31.

Notification No: No.159/2025

Date :7th November,2025

Summary: The Central Government notifies the Ayodhya Vikas Pradhikaran (Ayodhya Development Authority) under Section 10(46A) of the Income-tax Act, 1961. This grants exemption from income tax to certain income of the authority. The notification is effective from the assessment year 2024-25.

Notification No: 160/2025

Date :10th November,2025

Summary:The notification gives effect to the Protocol amending the Double Taxation Avoidance Agreement (DTAA) and Protocol between India and the Kingdom of Belgium. The Amending Protocol, signed on March 9, 2017, came into force on June 26, 2025. Its provisions are effective from the date of entry into force for criminal tax matters, and for other matters, for taxable periods beginning on or after that date.

Notification No: 04/2025 (EXEMPTION)

Date : November,2025

Summary:Approval is granted to M/s Hari Shankar Sighania Elastomer & Tyre Research Institute for 'Scientific Research' purposes under section 35(1)(iia) of the Income Tax Act, 1961. The approval was accorded by the Pr. Chief Commissioner of Income Tax (Exemptions). The notification is applicable for Assessment Years 2022-23 to 2026-27.

Notification No: 161/2025

Date :19th November,2025

Summary:The Capital Gains Accounts (Second Amendment) Scheme, 2025, amends the 1988 Scheme to incorporate the new section 54GA. It also updates Forms A and C to expressly permit deposits/transactions via electronic mode (RTGS/IMPS/NEFT).

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Notification No: 162/2025

Date :19th November,2025

Summary:The Central Government authorizes all non-rural branches of 19 specified banks (including HDFC, ICICI, Axis, Kotak) to receive deposits under the Capital Gains Account Scheme, 1988. This is done in pursuance of clause (e) of paragraph 2 of the Scheme.

CBDT CIRCULARS

Circular No: 01/2025,

Date: January 21, 2025

Summary: This circular offers guidance for the application of the Principal Purpose Test (PPT) within India's Double Taxation Avoidance Agreements (DTAAs), an anti-abuse measure adopted through the Multilateral Instrument (MLI). The PPT is a core anti-treaty abuse rule that denies treaty benefits if obtaining the benefit was determined to be one of the principal purposes of the arrangement or transaction. The circular mandates that the application of the PPT must be a context-specific, fact-based exercise, and permits tax authorities to refer to the UN Model Tax Convention commentary as supplementary guidance.

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Circular No:2/2025,

Date: February 18, 2025

Summary: The CBDT, exercising its power under section 119(2)(b), extended the deadline for filing the accountant's report in Form No. 56F to alleviate difficulties reported by stakeholders. This form is mandatory for assessees claiming deductions under section 10AA read with section 10A(5), which relates to the deduction for units in Special Economic Zones (SEZ). The due date for furnishing Form No. 56F for Assessment Year 2024-25 is extended from the specified date under section 44AB to March 31, 2025.

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Circular No: 3/2025

Date: February 20, 2025

Summary: This circular provides comprehensive guidelines for Income-tax Deduction at Source (TDS) from salaries under section 192 for the Financial Year 2024-25, incorporating all relevant amendments from recent Finance Acts. It details the updated tax and surcharge rates applicable to both the New Tax Regime (Section 115BAC) and the Old Tax Regime for the financial year. The circular also covers procedural amendments, including the changes to the definition of 'salary,' the valuation of perquisites for rent-free accommodation, new provisions u/s 192(2B), and modifications to Forms 16 and 24Q.

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Circular No. 04/2025

Date: March 17, 2025

Summary: This circular provides Frequently Asked Questions (FAQs) to clarify the revised CBDT Guidelines for Compounding of Offences under the Income-tax Act, 1961, issued on October 17, 2024. It highlights that the new guidelines simplified the compounding process by eliminating offence categorization and removing the limit on the number of applications, making all offences compoundable. The FAQs address key procedural details, including the roles of the competent authority and the treatment of compounding applications in cases related to the Insolvency and Bankruptcy Code (IBC).

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Circular No:5/2025

Date: March 28, 2025

Summary: This Circular under section 119 allows for the waiver of interest levied under section 201(1A)(ii) (TDS) or 206C(7) (TCS) in cases where the delay in credit to the Central Government was due to technical glitches. The waiver is applicable if the taxpayer's bank account was debited on or before the due date, but the actual credit was delayed. The application must be filed within one year from the end of the relevant financial year and must be disposed of within a six-month period.

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Circular No:06/2025

Date: May 27, 2025

Summary:The CBDT, exercising its powers under Section 119, has extended the due date for furnishing the Return of Income (ITR) for the Assessment Year 2025-26 for a specific class of assessees (referred to in clause (c) of Explanation 2 to sub-section (1) of section 139). This extension provides additional time for compliance for these taxpayers. The new due date for furnishing the ITR is extended from the original date of July 31, 2025, to September 15, 2025.

Circular No: 07/2025,

Date: June 25, 2025

Summary: This circular, issued under section 119 of the Income-tax Act, relaxes the statutory time limit for processing valid returns of income that were filed late pursuant to an order condoning the delay (u/s 119(2)(b)). The extension addresses technical reasons that prevented these returns from being processed within the time limit under section 143(1). The Director General of Income-tax (Systems) must ensure the intimation u/s 143(1) is sent to assessees on or before March 31, 2026, although refunds will be withheld if the PAN-Aadhaar linkage is missing.

Circular No: 8/2025

Date: July 2025

Summary: This circular provides clarification on Circular No. 5/2025 regarding the waiver of interest levied under section 201(1A)(ii) (TDS) or 206C(7) (TCS) in specific cases of delayed tax credit. It explicitly confirms that the prescribed authority is empowered to entertain waiver applications for interest charged even for periods before the issuance of Circular 5/2025. Crucially, the application for waiver must be filed within one year from the end of the financial year for which the interest is charged.

Circular No:9/2025

Date: July 2, 2025

Summary:This circular partially modifies the consequences of an inoperative PAN due to non-linkage with Aadhaar, providing relief from the higher TDS/TCS rates under sections 206AA/206CC. For payments/credits made until July 31, 2025, the higher rates won't apply if PAN is linked by September 30, 2025. For transactions on or after August 1, 2025, the relief is available if the PAN is made operative within two months from the end of the month of payment.

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Circular No: 10/2025

date:28th July, 2025

Summary: This order relaxes the time limit for processing electronically filed returns of income that were erroneously invalidated by CPC-Bengaluru due to technical reasons, even after the statutory time limit had lapsed. The CBDT directs that returns filed electronically up to March 31, 2024, which were incorrectly invalidated, shall now be processed by relaxing the statutory time limit. The intimation under section 143(1) for these returns must be sent to the assessees concerned by March 31, 2026, although any refund will be withheld if the PAN-Aadhaar linkage is missing.

Circular No: 11/2025

Date: 02 September, 2025

Summary: This circular modifies the existing Circular No. 9 of 2022, which provides guidelines for claiming deduction under clause (23FE) of section 10 of the Income-tax Act, following an amendment in the Finance Act, 2025. The amendment extended the date of investment eligible for the deduction from March 31, 2025, to March 31, 2030, effective from April 1, 2025. Consequently, the reference to the investment date of March 31, 2025, within the original circular's guidelines, shall now be read as March 31, 2030.

Circular No: 12/2025

Date:15th September, 2025

Summary: Exercising its power under Section 119, the CBDT has extended the due date for furnishing the Income Tax Return (ITR) for the Assessment Year 2025-26 for non-auditable assessees referred to in clause (c) of Explanation 2 to section 139(1). This circular provides a minor extension to the already extended date from September 15, 2025 (per Circular 06/2025). The new final due date for filing the ITR for this class of assessees is September 16, 2025.

Circular No:13/2025

Date:19 September, 2025

Summary:This order, issued under section 119, grants a waiver of interest payable under section 220(2) due to the late payment of demands raised in certain cases. The waiver is specifically for demands resulting from rectifications that disallowed the rebate under section 87A incorrectly allowed on special rate income in processed returns. Interest will be waived if the resulting demand is paid on or before December 31, 2025.

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Circular No :14/2025

Date:25th September 2025

Summary:The CBDT extended the deadline for filing various audit reports for the Financial Year 2024-25 (Assessment Year 2025-26) for auditable assessees as per its powers under Section 119. This circular specifically extends the 'specified date' for furnishing the report of audit for assessees referred to in section 139(1) Explanation 2, clause (a). The deadline is moved from September 30, 2025, to October 31, 2025.

Circular No:15/2025

Date: 29 October, 2025

Summary:This circular extends the due date for furnishing the Income Tax Return (ITR) for the Assessment Year 2025-26 for assessees requiring an audit (referred to in section 139(1) Explanation 2, clause a). The ITR due date is extended from October 31, 2025, to December 10, 2025. Consequently, the specified date for furnishing the required audit report for the same year is also extended to November 10, 2025.

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