India

On 29 October 2026, the Central Board of Direct Taxes (CBDT) issued Notification No. 138/2026 [F.No. 275/44/2026-IT(B)] / SO 5855(E) granting an exemption from Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) provisions to the International Rice Research Institute (IRRI). This notification is issued under the powers conferred by the Income Tax

On 27 October 2026, the Central Board of Direct Taxes (CBDT) released a draft notification proposing the Income-tax (Seventh Amendment) Rules, 2026. This amendment introduces Rule 281A and a new Form 173A, prescribing the procedure for taxpayers to furnish information necessary to claim exemption on interest income and capital gains arising from Government securities under

On 21 October 2026, the Central Board of Direct Taxes (CBDT) published Notification No. 137/2026 (GSR 901(E)) introducing Rule 281A and Form No. 173A under the Income Tax Act, 2025. These provisions operationalize exemptions listed at Serial Numbers 13D and 13E of Schedule IV, which pertain to specific income categories for eligible entities. The notification

On 21 October 2026, the Government of India issued Notification No. 136/2026 (SO 5694(E)) granting an exemption from tax deduction at source (TDS) on interest payments made under the New Development Bank (NDB) Maharajah INR Bond Programme. This measure aims to enhance the attractiveness of rupee-denominated bonds issued by the multilateral development bank, facilitating cheaper

On 14 October 2026, the CBDT notified the Protocol amending the Double Taxation Avoidance Agreement (DTAA) between India and Mauritius via Notification No. 135/2026 (SO 5611(E)). The protocol introduces significant modifications to the existing convention, particularly concerning capital gains taxation on shares, principal purpose test (PPT) provisions, and exchange of information clauses. These amendments reflect

On 12 October 2026, the CBDT issued Notification No. 133/2026, amending the 1988 notification governing the hierarchy of appellate authorities. The amendment explicitly provides that Joint Commissioners (Appeals) and Additional Commissioners (Appeals) shall be subordinate to the jurisdictional Principal Chief Commissioner or Chief Commissioner of Income-tax. This change, effective immediately, restructures the first appellate layer

On 12 October 2026, the Central Board of Direct Taxes (CBDT) issued Notification No. 133/2026, amending the 1988 notification to clarify the administrative hierarchy for appellate authorities. The notification specifies that Joint Commissioners (Appeals) and Additional Commissioners (Appeals) shall be subordinate to the jurisdictional Principal Chief Commissioner or Chief Commissioner of Income-tax. This change aims

On 8 October 2026, the CBDT issued Notification No. 134/2026, notifying the Income-tax (Sixth Amendment) Rules, 2026. The amendment introduces a revised Form 161 for filing applications seeking waiver of penalty under Section 440(2) of the Income-tax Act, 2025. Section 440(2) empowers the Principal Commissioner or Commissioner to waive penalty imposed under the Act if

The CBDT released Notification No. 134/2026 on 8 October 2026, notifying the Income-tax (Sixth Amendment) Rules, 2026. The amendment introduces a revised Form 161 for filing applications for waiver of penalty under Section 440(2) of the Income-tax Act, 2025. This update provides taxpayers with a standardized format to seek relief from penalties, ensuring procedural clarity

On 9 October 2026, the CBDT issued Notification No. 134/2026 (G.S.R. 871(E)) amending Income Tax Form No. 161 to reflect changes brought by the Finance Act, 2026. Form 161 is used for certificates of tax deducted at source on certain payments. The amendment incorporates revised tax rates, new sections, and updated reporting fields mandated by