On 1 October 2026, the Ministry of Finance notified further amendments to the original 1988 notification (S.O. 359) governing the powers and functions of the Central Board of Direct Taxes (CBDT) and its subordinate authorities. Notification No. 133/2026 (SO 5368(E)) updates procedural aspects related to assessment, appeals, and internal delegation of powers. These amendments streamline tax administration, reflect organizational changes, and align with the Income Tax Act, 2025. Tax officers and practitioners should review the revised delegation matrix and procedural timelines.
Key Takeaways
- Delegation of Powers Updated: Revised financial limits and jurisdictional assignments for assessing officers and appellate authorities.
- Procedural Timelines Adjusted: New deadlines for completion of assessments, issuance of notices, and disposal of appeals.
- Alignment with New Act: Amendments ensure compatibility with the Income Tax Act, 2025, replacing references to the 1961 Act.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement