https://www.taxtmi.com/notifications?id=147231 Form No. 161 is the prescribed application for waiver of penalty under section 440(2). It requires applicant identification, PAN, address, contact information, and assessment or reassessment order particulars. The application records assessed and under-reported income, applicable tax and interest, additional income-tax in lieu of penalty, the total payable, and challan-based payment details. Verification confirms that no appeal has been filed, undertakes that none will be filed before expiry of the specified period, and affirms the applicant's authority and competence to apply. en-us Thu, 08 Oct 2026 00:00:00 +0530 Fri, 09 Oct 2026 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=147231 Form No. 161 is the prescribed application for waiver of penalty under section 440(2). It requires applicant identification, PAN, address, contact information, and assessment or reassessment order particulars. The application records assessed and under-reported income, applicable tax and interest, additional income-tax in lieu of penalty, the total payable, and challan-based payment details. Verification confirms that no appeal has been filed, undertakes that none will be filed before expiry of the specified period, and affirms the applicant's authority and competence to apply. Notifications Income Tax Thu, 08 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/notifications?id=147231