The Central Board of Direct Taxes (CBDT), under the Ministry of Finance, has issued Notification No. 50/2026 dated 30 March 2026, introducing the Income-tax (Seventh Amendment) Rules, 2026. Exercising powers under sections 139 and 295 of the Income-tax Act, 1961, the amendment substitutes the existing Form ITR-7 in Appendix II of the Income-tax Rules, 1962. The revised form will be effective from 31 March 2026 and applicable for returns filed for Assessment Year 2026–27 onwards. This change aims to streamline return filing for entities required to use ITR-7, ensuring updated compliance requirements and improved reporting standards in line with recent regulatory developments.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 50/2026-Income Tax | Dated: 30th March, 2026
G.S.R. 231(E).— In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely: –
1. (1) These rules may be called the Income-tax (SEVENTH Amendment) Rules, 2026.
(2) They shall come into force with effect from the 31st day of March, 2026 and shall apply in respect of returns filed for Assessment Year 2026-27.
2. In the Income-tax Rules, 1962, in Appendix – II, for FORM ITR-7, the following FORM shall be substituted, namely: –
[No. 50/2026/F. No. 370142/10/2026-TPL]
PRADEEP SHARMA, Dy. Secy., Tax Policy and Legislation
Note:- The Income-tax Rules, 1962 rules were published in the Gazette of India, Extraordinary, Par II, Section 3, Sub-section (ii) vide notification number S.O. 969 (E), dated the 26th March, 1962 and last amended vide notification GSR. 230(E), dated the 30th March 2026
