Exemption under section 10(46) for notified educational board's specified income, subject to non-commercial and filing conditions.
Notification under clause (46) of section 10 of the Income-tax Act exempts specified income of the notified educational board, namely state grants, fees/charges under its Act, receipts from sale of books and educational material, and interest on bank deposits, subject to conditions: no commercial activity, unchanged activities and income during the year, and filing return as per clause (g) of sub-section (4C) of section 139; the notification is deemed to apply to assessment years 2020-2021 to 2023-2024.

Exemption under Section 10(46): specified income of Treasurer Charitable Endowments, Haryana exempted subject to compliance conditions.
Notification designates Treasurer Charitable Endowments, Haryana as an authority whose specified income is exempt under clause (46) of section 10. The specified exempt income comprises grants from the Central Government or the State Government of Haryana for the National Workers Relief Fund and interest on bank deposits. The exemption is subject to conditions: no engagement in commercial activity, unchanged activities and specified income across financial years, and filing returns under clause (g) of sub-section (4C) of section 139; the notification applies retrospectively to specified assessment years.

Exemption of specified income granted to a state real estate regulatory authority, subject to non commerciality and filing conditions.
Notification under clause (46) of section 10 exempts specified income of Haryana Real Estate Regulatory Authority, Gurugram: government grants/loans, fees and penalties under the Real Estate (Regulation and Development) Act, and interest on those receipts. The exemption is conditional on the Authority not engaging in commercial activity, maintaining unchanged activities and nature of specified income, and filing returns as required by clause (g) of sub section (4C) of section 139 of the Income tax Act; the notification is made retrospective for certain earlier financial years.

Zero coupon bond designation clarifies tax status for specified NABARD bond, setting issue schedule and maturity terms.
The notification specifies a zero coupon bond issued by The National Bank for Agriculture and Rural Development, fixing its tenor at ten years eleven months thirteen days, requiring issuance on or before the stated March deadline in 2027, and recording the aggregate maturity amount, aggregate discount and total number of bonds, thereby operationalising the instrument's tax characterisation under the Income tax Act and relevant rules.

Exemption of specified income for Greater Noida Industrial Development Authority subject to continued statutory eligibility and conditions.
Notification grants exemption for specified income to the Greater Noida Industrial Development Authority under the relevant clause of section 10 of the Income-tax Act, identifying the Authority as constituted under the U.P. Industrial Area Development Act, 1976. The exemption is effective from the assessment year 2024-25, conditional on the Authority continuing to be so constituted and retaining one or more of the purposes specified in the relevant provision of section 10.

Information sharing for beneficiary identification: Secretary to Maharashtra Women and Child Development authorised to receive income tax data.
Notification under section 138(1)(a)(ii) designates the Secretary to the Government of Maharashtra, Women and Child Development, as the authorised recipient of income tax payer information for the sole purpose of identifying eligible beneficiaries under the Mukhyamantri Mazi Ladki Bahin Yojana, thereby operationalising the statutory information sharing mechanism.

Schedule Amendment: insertion of Sikkim in 80 IE expands deductions for North East undertakings and adjusts totals.
Correction to Schedule CG replaces the bracketed reference in Schedule CG row B4ca from "(4ca -biva)" to "(4a-biva)". The Schedule 80-IE is substituted to insert a new row item for Sikkim, list two undertakings per North-East state with Form 10CCB references, and provide an aggregate total for North-East deductions which is carried as the total deduction under the section.

Zero coupon bond designation for Ten Year Zero Coupon Bond of REC Ltd sets issuance and maturity conditions.
The Central Government, exercising powers under the Income-tax Act and Rules, specifies the Ten Year Zero Coupon Bond of REC Ltd as a zero coupon bond, recording its tenure of ten years six months, issuance deadline of on or before 31 March 2027, maturity payment of Rs. 5,000 crores, aggregate discount of Rs. 2,200 crores, and a total issuance of five lakhs bonds.

Deduction under section 80-IE: schedule amended to add Sikkim, with entries for two undertakings and aggregate deduction.
Corrigendum substitutes Schedule 80-IE to insert a new "ah" entry for Sikkim, adding two undertaking entries for Sikkim each referencing the 30 field of Form 10CCB, and updates the aggregated total deduction for North East undertakings to include these entries, thereby revising the total deduction under the section.

Deductions under section 80-IE: Schedule updated to add Sikkim and specify undertaking entries and total calculation.
Corrigendum inserts a new row for Sikkim into Schedule 80-IE, substituting the existing schedule to list each North-East state with two undertaking entries and indicating Form 10CCB as the undertaking identifier; the schedule also specifies aggregation lines that total deductions for North-East undertakings and the overall deduction under the section.

Updated Return (ITR-U) enables post-assessment income corrections within the prescribed period, detailing eligibility and tax computation obligations.
Notification substitutes a new ITR-U form allowing taxpayers to update income within forty-eight months, specifying eligibility under the provisos to section 139(8A), prior filing and ITR type, and reasons for updating. The form requires disclosure of affected assessment years where carried forward losses, unabsorbed depreciation or tax credits are impacted. It prescribes a structured tax computation capturing additional income by head, reconciliation with the last valid return, resulting tax payable or refundable amounts, obligations for tax payments under the updated-return provision, and a verification declaration for the taxpayer.

Zero coupon bond specified under the Income-tax Act; issuance, life, discount and redemption terms prescribed.
The Central Government has specified the Ten Year Zero Coupon Bond of Indian Railway Finance Corporation Ltd. as a zero coupon bond under the Income-tax Act, prescribing the bond's ten-year tenor, issuance schedule, redemption amount, discount recognised at issuance, and the total number of bonds to be issued, thereby fixing the parameters that determine its tax characterisation under the referenced rules.

Income tax exemption for pollution control board on specified statutory fees and grants subject to conditions.
Notification under clause (46) of section 10 exempts specified income of a State pollution control board, including consent fees, analysis and survey fees, authorisation fees, cess reimbursements, RTI fees, reimbursements from monitoring programmes, government grants, staff loan interest, miscellaneous receipts, penalties and interest on such receipts, subject to conditions prohibiting commercial activity, requiring unchanged activities and income character across financial years, and prescribed return filing compliance.

ITR-7 form updated for AY 2025-26: comprehensive new reporting, disclosures and schedules for exempt entities.
The CBDT, under the Income-tax (Eighteenth Amendment) Rules, 2025, has substituted FORM ITR-7 in Appendix II to the Income-tax Rules, 1962 for assessment year 2025-26, the rules being deemed effective from 1 April 2025. The revised ITR-7 prescribes comprehensive identification, registration, corpus, investment, audit, governance and beneficial ownership disclosures, detailed schedules for accumulated and applied income, voluntary contributions (including anonymous donations), capital gains including virtual digital assets, foreign assets, tax computation and reporting of taxes paid and reliefs.

ITR V and ITR Acknowledgement for AY2025-26 substitute forms and require specified e verification or ITR V submission procedures.
CBDT substituted FORM ITR V and the ITR Acknowledgement in Appendix II for AY 2025-26, effective 1 April 2025, prescribing that electronically transmitted returns must be e verified by Aadhaar OTP, net banking login, pre validated bank/demat EVC or ATM EVC, or by sending a signed ITR V by speed post to CPC Bengaluru; submissions elsewhere or by other modes are not permitted. If ITR V is submitted within 30 days of transmission the transmission date is the date of furnishing; submission after 30 days makes the ITR V submission date the date of furnishing and may attract late filing consequences.

ITR-6 form for companies updated: new disclosure requirements including foreign assets, Ind-AS, transfer pricing; effective AY2025-26.
Notification No. 44/2025 substitutes a revised FORM ITR-6 in Appendix II of the Income-tax Rules, 1962, via the Income-tax (Sixteenth Amendment) Rules, 2025, effective 1 April 2025. The new ITR-6 for AY2025-26 requires expanded company identification, Ind AS reporting where applicable, extensive balance sheet and P&L schedules, detailed capital gains and virtual digital asset disclosure, transfer-pricing and secondary adjustment reporting, foreign assets/income schedules, LEI and IFSC-related fields, and numerous tax-computation and compliance schedules. An explanatory memorandum certifies retrospective effect will not adversely affect any person and a correction notification is noted.

ITR-2 form notified for AY 2025-26; new schedules expand reporting on capital gains, foreign assets, VDA and deductions.
CBDT has substituted FORM ITR-2 in Appendix II of the Income-tax Rules, 1962 by the Income-tax (Fifteenth Amendment) Rules, 2025, effective 1 April 2025, prescribing the return format and detailed schedules for individuals and HUFs (not carrying on business/profession) for Assessment Year 2025-26, including enhanced disclosures for residential status, capital gains (with pre/post 23 July 2024 distinctions), virtual digital assets, foreign assets/income, pass through income, Chapter VI A deductions, AMT/AMT credit, and related procedural identifiers.

ITR 5 for AY 2025-26 revised: expanded disclosures, audit and financial schedules, foreign asset and virtual asset reporting.
Notification substitutes Form ITR-5 by the Income tax (Fourteenth Amendment) Rules, 2025 effective 1 April 2025, prescribing a revised ITR 5 for AY 2025-26 that centralises extensive identification, filing status, tax regime options, audited accounts and full financial statements, presumptive taxation schedules, detailed capital gains and virtual asset reporting, foreign asset disclosure, GST turnover, tax payment and TDS/TCS schedules, and mechanisms for tax computation including AMT and DTAA relief; taxpayers within ITR 5 scope must furnish the expanded disclosures and applicable schedules.

ITR 3 form for AY 2025-26 updated-new disclosure and reporting requirements for business and HUF taxpayers.
The Central Board of Direct Taxes has notified the Income tax (Thirteenth Amendment) Rules, 2025, substituting a revised FORM ITR-3 in Appendix II, effective 1 April 2025. The revised ITR 3 sets out expanded personal, filing status and audit disclosures; comprehensive business balance sheet, P&L, depreciation and presumptive income schedules; detailed capital gains, Virtual Digital Asset and pass through income reporting; foreign assets and DTAA relief schedules; GST and ESOP deferred tax entries; and integrated tax computation, AMT, TDS/TCS and refund bank details for AY 2025-26.

Income-tax rules amended: ITR-1 and ITR-4 replaced; Form 10BA must be furnished with the income tax return.
Amendments to the Income tax Rules, 1962 effective 1 April 2025 revise Rule 12 to expand and clarify eligibility for the simplified SUGAM (ITR 4) return-permitting certain assessees with presumptive business/professional income and only limited long term capital gains subject to specified loss conditions-and update a sub rule date. Rule 11B is amended to require furnishing Form 10BA with the return. Appendix II substitutes new ITR 1 and ITR 4 forms reflecting the revised eligibility and reporting requirements.