Modification of Form No. 7 relating to Rule 15 of the Income tax Rules, 1962 in consequence of amended Chapter XIV B of the Income tax Act, 1961
The Central Board of Direct Taxes, under the Ministry of Finance, has issued a new rule, the Income-tax (Twenty-First Amendment) Rules, 2025. This change amends the Income-tax Rules of 1962, and it will come into effect on September 1, 2025. The amendment modifies Form No. 7 in Appendix-II of the rules. Specifically, it updates a section of paragraph 1 by changing the wording. Where it previously read “assessment year a sum,” it will now read “assessment year or the block period, as the case may be, a sum.” This revision clarifies that the rule applies to both standard assessment years and block periods, providing a more comprehensive scope for tax-related calculations and notices. The notification was signed by Surbendu Thakur, Under Secretary of Tax Policy and Legislation, and is a routine update to existing tax regulations. This is the latest in a series of amendments to the Income-tax Rules, which were last changed on July 28, 2025.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 132/2025-Income Tax | Dated: 14th August, 2025
G.S.R. 553(E).— In exercise of the powers conferred by section 295 read with section 156 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend Income-tax Rules, 1962, namely: –
1. (1) These rules may be called the Income-tax (Twenty-First Amendment) Rules, 2025.
(2) They shall come into force on the 1st day of September, 2025.
2. In the Income-tax Rules, 1962, in Appendix-II, in FORM NO. 7, in paragraph 1, for the words “assessment year a sum”, the words “assessment year or the block period , as the case may be, a sum” shall be substituted.
[No. 132/2025/F. No. 370142/34/2025-TPL]
SURBENDU THAKUR, Under Secy., Tax Policy and Legislation
Note:- The Income-tax Rules, 1962 were published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide notification S.O. 969 (E), dated the 26th March, 1962 and last amended vide notification GSR 503(E), dated the 28th July, 2025.
