Tax exemption under section 10(46): specified Mysore Palace Board incomes exempted subject to non-commerciality and filing.
Notification under clause (46) of section 10 grants tax exemption to Mysore Palace Board for specified receipts: income from the Palace or proceeds of vested property; fees and charges under the Mysore Palace (Acquisition and Transfer) Act forming part of the Board fund; rent from shops/stalls let to Government agencies; and interest on bank deposits. The exemption is conditional on the Board not engaging in commercial activity, maintaining unchanged activities and income character across the relevant years, and filing returns as required under the Act; the notification applies retrospectively to certain assessment years and prospectively to specified future assessment years.

No deduction for settlement expenditure: payments resolving regulatory contraventions are not allowable as business deductions.
The Central Government notifies that any expenditure incurred to settle proceedings in relation to contraventions or defaults shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made in respect of such expenditure, with that disallowance applying to settlements connected with securities market regulation, securities contracts regulation, depository legislation and competition law; the notification is effective on publication in the Official Gazette.

Exemption under section 10(46A): National Mission for Clean Ganga notified as authority, effective assessment year 2024-25.
Notification designates the National Mission for Clean Ganga as an authority entitled to exemption from specified income under the Income-tax Act, effective assessment year 2024-25, conditional on continued status as an authority under the Environment (Protection) Act and carrying out one or more of the specified purposes.

Tax Collected at Source on specified high value goods: sellers must collect TCS at time of receipt against sale.
Notification designates specified categories of goods as subject to Tax Collected at Source (TCS) where the goods' value exceeds ten lakh rupees, requiring the seller to collect TCS at the time of receipt against sale for listed high value items, including watches, art pieces, collectibles, yachts and similar craft, sunglasses, bags, shoes, sports equipment, home theatre systems, and certain horses; the notification is effective on publication in the Official Gazette.

Collection at source expanded to additional consumer and luxury goods, requiring reporting under Form 27EQ quarterly.
Amendment to Form No. 27EQ annexure adds specified goods to Note 11 to require collection at source under section 206C, listing items such as wrist watches, art pieces, collectibles, yachts and similar vessels, sunglasses, bags, shoes, sportswear and equipment, home theatre systems, and horses for racing and polo, each with a distinct code for quarterly reporting.

Zero coupon bond designation limits issuance terms and mandates proceeds for revenue servicing infrastructure projects only.
The Central Government designates a Ten Year Zero Coupon Bond of HUDCO as a zero coupon bond for tax purposes, specifying tenor (ten years one month), issuance deadline, aggregate maturity payment, discount, and number of bonds. HUDCO must utilise proceeds only for infrastructure projects capable of servicing the debt from project revenues without dependence on State Governments; 'Infrastructure' is defined by reference to the Updated Harmonised Master List of Infrastructure sub-sectors.

Scientific Research approval under section 35: KIMS Foundation recognised as Other Institution enabling tax treatment for research expenditure.
Central Government approves KIMS Foundation and Research Centre, Hyderabad, as an Other Institution for Scientific Research under clause (ii) of sub section (1) of section 35 of the Income-tax Act, read with Rules 5C and 5E of the Income-tax Rules, 1962. The Notification No. 33/2025 identifies the institution by PAN, takes effect from publication in the Official Gazette, and applies to the notified assessment years; the Explanatory Memorandum certifies no adverse effect from retrospective application.

Direct Tax Vivad se Vishwas Scheme deadline: last date set for declarants to file tax arrear declarations with designated authority.
The Central Government, under powers conferred by the Finance Act, notifies a final deadline for filing declarations under the Direct Tax Vivad se Vishwas Scheme, 2024: declarants must submit a declaration in respect of tax arrear to the designated authority by the notified last date to avail the Scheme's resolution mechanism.

Long-term specified asset designation: HUDCO bonds qualify, with proceeds restricted to self sustaining infrastructure projects.
Bonds issued by the Housing and Urban Development Corporation Limited (HUDCO) and redeemable after five years, if issued on or after 1 April 2025, are designated as a long-term specified asset under the income tax reinvestment provision; HUDCO must apply proceeds only to infrastructure projects able to service debt from project revenues without dependence on State Governments, with "infrastructure" defined by the Updated Harmonised Master List of Infrastructure sub-sectors and its amendments.

ITR B required for persons subject to search or requisition; prescribes electronic filing modes and verification of credit claims.
Rule 12AE mandates Form ITR B for returns under section 158BC following searches under section 132 or requisitions under section 132A on or after 1 September 2024, prescribes electronic filing modes (digital signature or electronic verification code) with audited entities, companies and political parties required to file by digital signature, delegates systems, security and transmission standards to the Principal Director General/Director General (Systems), and provides that tax credit claims against undisclosed block period income (other than self assessment tax) are subject to verification and satisfaction of the Assessing Officer; Form ITR B and accompanying schedules are inserted into Appendix II.

Tax exemption under section 10(46A) recognises Prayagraj Mela Pradhikaran, subject to continued qualifying purposes.
Notification designates Prayagraj Mela Pradhikaran (PAN: AAAGP1340M) as an authority for the purposes of clause (46A)(b) of section 10 of the Income-tax Act, making it eligible for exemption of specified income; the notification is effective from assessment year 2024-25 and is conditional on continued constitution under the State Act and retention of one or more purposes specified in sub-clause (a) of clause (46A).

Tax exemption under section 10(46A) notified for a regional development authority, effective subject to continuation of qualifying purposes.
Exemption under section 10(46A) is extended to the Greater Mohali Area Development Authority by central notification under sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, identifying the assessee and its constitution under regional town planning statute. The exemption is effective from the stated assessment year and is conditional on the assessee continuing to be an authority under the regional planning legislation and retaining one or more qualifying purposes specified in sub-clause (a) of clause (46A).

TDS exemption on National Savings Scheme withdrawals: no deduction under section 194EE for qualifying individual withdrawals.
The Central Government has specified that no deduction of tax under section 194EE shall be made on amounts referred to in clause (a) of sub section (2) of section 80CCA when withdrawn by an assessee who is an individual; the notification is effective from its publication in the Official Gazette.

Aadhaar-PAN linking requirement: PANs allotted via Aadhaar enrolment must have Aadhaar intimated to tax systems by the notified deadline.
Individuals allotted a Permanent Account Number based on the Enrolment ID of an Aadhaar application filed before 1 October 2024 must intimate their Aadhaar number to the Principal Director General of Income-tax (Systems), Director General of Income-tax (Systems) or an authorised person; the notification sets a compliance deadline while allowing the Central Board of Direct Taxes to specify an alternative date.

Aadhaar intimation requirement: PANs allotted via Aadhaar enrolment prior to the cutoff must notify Aadhaar to tax systems.
The Income-tax (ninth Amendment) Rules, 2025 insert Rule 114(5AA) requiring persons whose PAN was allotted on the basis of an Aadhaar enrolment ID filed before the specified cutoff to intimate their Aadhaar number to the authorised tax systems authority, and amend Rule 114(6) to include intimation under the new sub-rule alongside existing Aadhaar intimations.

Exemption under section 10(46): specified incomes of Karnataka Urban Water Supply & Drainage Board exempt subject to conditions.
Notification grants exemption for Karnataka Urban Water Supply & Drainage Board, Bangalore in respect of specified income: establishment, administrative, supervision, water charges and rent; forfeiture of earnest money deposits; penalties, sale of scrap, storage charges, issue of tender forms and survey charges; and interest on bank deposits. The exemption is subject to conditions that the Board shall not engage in commercial activity, that activities and specified income remain unchanged through the financial years, and that the Board files returns of income as required under the Income-tax Act. The notification applies to the stated sequence of assessment years.

Tax audit reporting expands required particulars under section 44AB, adding MSMED interest disclosures, transaction codes, and buyback details.
Amendments to Form 3CD under section 44AB require new disclosures including a row for expenditure to settle proceedings under notified contravention laws; detailed MSMED-related reporting of inadmissible interest and amounts payable under the MSMED Act with paid/unpaid breakdowns; revised wording in clause (26); omission of clauses (28) and (29); transaction-level reporting with prescribed codes for nature of receipts/payments; and a new buyback disclosure requiring amounts received and cost of acquisition.

TDS return reporting updated to require inclusion of partner payment withholding under 194T in prescribed return forms.
The notification amends Appendix II of the Income-tax Rules, 1962 to add 194T to the headings of specified TDS return forms and to insert a corresponding annexure table entry describing withholding on payment of salary, remuneration, commission, bonus or interest to a partner of a firm, with the amendments taking effect on publication in the Official Gazette.

Safe harbour limits for eligible international transactions increased and scope broadened to include lithium ion batteries.
Amendments expand the definition of core auto components to include lithium ion batteries for electric or hybrid vehicles; increase the monetary thresholds in the safe harbour Table by substituting the lower limit with a higher limit across specified entries; extend the range of applicable assessment years by two additional years; and insert language in the procedural proviso clarifying that the specified treatment applies "for one assessment year."

Disclosure of taxpayer information: Chief Secretary (IT) authorized to receive income-tax data for beneficiary identification under NCT Delhi welfare schemes.
The Central Government notifies the Additional Chief Secretary (IT), Department of Information & Technology, Government of National Capital Territory of Delhi, as the authorised recipient for sharing income-tax information to identify eligible beneficiaries under NCT Delhi social welfare schemes.