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MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew 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 Incometax 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
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FAQ :
The main change is the substitution in Form No. 7, allowing for the mention of either the 'assessment year' or the 'block period'.
These rules come into force on the 1st day of September, 2025.
Form No. 7 is being amended.
In Form No. 7, paragraph 1 is being amended to include the option of specifying the 'block period' alongside the 'assessment year'.
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Source : https://egazette.gov.in/(S(on1uxl4wyeyrn53zc5lvabqo))/ViewPDF.aspx