The Central Board of Direct Taxes issued Notification No. 134/2026 dated 8 October 2026 (G.S.R. 871(E)), notifying the Income-tax (Sixth Amendment) Rules, 2026. The rules state that they come into force on publication in the Official Gazette.
The amendment inserts the words “or waiver” after “imposition” in rule 231 of the Income-tax Rules, 2026 and substitutes Form No. 161, titled “Application for seeking waiver of penalty under section 440(2) of the Income-tax Act, 2025”.
The revised form seeks the applicant’s identifying and contact particulars, tax year, section under which the assessment or reassessment order was passed, document identification number, date and service of the order, demand notice payment due date, assessed income, category of under-reported income, tax and interest calculations, relevant payment details and challan particulars.
The verification includes a declaration concerning appeals against the underlying order and the applicable appeal period specified in section 440(5). Tax professionals assisting eligible applicants should use the prescribed format and examine the conditions of section 440 independently; the revised form is a procedural change and does not establish an automatic entitlement to waiver.