Ministry of Finance Department of Revenue Central Board of Direct Taxes

Modification of Form No.7 relating to Rule 15 of the Income tax Rules, 1962 in consequence of amended Chapter XIV B of the Income tax Act, 1961

Issue Date: 14 August 2025 Published: 14 August 2025

Gazette ID: CG-DL-E-14082025-265449 Download PDF

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Core Purpose

The Central Board of Direct Taxes amends the Income-tax Rules, 1962, through the Income-tax (Twenty-First Amendment) Rules, 2025.

Detailed Summary

The Ministry of Finance, Department of Revenue, specifically the Central Board of Direct Taxes, issued Notification G.S.R. 553(E) on August 14, 2025, in New Delhi. In exercise of powers conferred by section 295 read with section 156 of the Income-tax Act, 1961 (43 of 1961), these rules, titled the Income-tax (Twenty-First Amendment) Rules, 2025, further amend the Income-tax Rules, 1962. These amending rules shall come into force on September 1, 2025. The specific amendment is made in Appendix-II, in FORM NO. 7, in paragraph 1 of the Income-tax Rules, 1962, where the words "assessment year.......a sum" are substituted with "assessment year......... or the block period.........., as the case may be, a sum". The notification is signed by Surbendu Thakur, Under Secretary, Tax Policy and Legislation. The Income-tax Rules, 1962, were originally published vide notification S.O. 969 (E), dated March 26, 1962, and were last amended vide notification GSR 503(E), dated July 28, 2025.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-14082025-265449 EXTRAORDINARY PART II—Section 3—Sub-section (i) PUBLISHED BY AUTHORITY NEW DELHI, THURSDAY, AUGUST 14, 2025/SHRAVANA 23, 1947 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 14th August, 2025 G.S.R. 553(E). — In exercise of the powers conferred by section 295 read with section 156 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend Income- tax Rules, 1962, namely: - 1. (1) These rules may be called the Income-tax (Twenty-First Amendment) Rules, 2025. (2) They shall come into force on the 1st day of September, 2025. 2. In the Income-tax Rules, 1962, in Appendix-II, in FORM NO. 7, in paragraph 1, for the words "assessment year.......a sum", the words "assessment year......... or the block period.........., as the case may be, a sum" shall be substituted. [No. 132/2025/F. No. 370142/34/2025-TPL] SURBENDU THAKUR, Under Secy., Tax Policy and Legislation Note:- The Income-tax Rules, 1962 were published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide notification S.O. 969 (E), dated the 26th March, 1962 and last amended vide notification GSR 503(E), dated the 28th July, 2025. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. RAVINDER KUMAR Digitally signed by RAVINDER KUMAR Date: 2025.08.14 22:44:27 +05'30'

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