The Ministry of Finance, through the Central Board of Direct Taxes, has issued Notification No. 74/2025 – Income Tax, dated July 11, 2025. This notification amends a previous one (S.O. 3952(E), dated November 2, 2020) under the Income-tax Act, 1961, specifically concerning sub-clause (vi) of clause (b) of Explanation 1 to clause (23FE) of section 10. The key change extends the applicability period mentioned in the opening paragraph of the principal notification. Previously, the date was “31st day of March, 2025.” This has now been substituted with “31st day of March, 2030,” effectively prolonging the period for which certain provisions under Section 10(23FE) are applicable. This amendment is effective except for actions or omissions between April 1, 2025, and the publication date of this new notification. The principal notification has been amended twice before, on January 25, 2022, and July 18, 2024.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 74/2025 – Income Tax | Dated: 11th July, 2025
S.O. 3128(E).— In exercise of the powers conferred by sub-clause (vi) of clause (b) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance, Department of Revenue (Central Board of Direct Taxes) [Notification No.89/2020/F.No.370133/16/2020-TPL] number S.O. 3952(E), dated the 2nd November, 2020, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), except as respects things done or omitted to be done on and from the 1st April, 2025 till the date of publication of this notification in the Official Gazette, namely:––
In the said notification, in the opening paragraph, for the figures, letters and words “31st day of March, 2025”, the figures, letters and words “31st day of March, 2030” shall be substituted.
[No. 74/2025/F. No. 500/Misc./S10(23FE)/FT&TR-II]
BAHNI TELENGA, Under Secy.
Note: The principal notification was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii) vide number S.O. 3952(E), dated the 2nd November, 2020 and subsequently, amended vide notification number S.O.345(E), dated the 25th January, 2022 and S.O. 2830(E), dated the 18th July, 2024.
