The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has issued Notification No. 96/2025-Income tax, dated July 11, 2025, amending a previous notification from September 20, 2021. This amendment, made under the Income-tax Act, 1961, specifically revises sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10. The key change is the extension of the specified date from March 31, 2025, to March 31, 2030. This means that the tax exemption benefits outlined in the principal notification for certain incomes, particularly those of specified funds, will now be available for an additional five years. The amendment is effective from April 1, 2025, encompassing actions taken or omitted between that date and the publication of this new notification. This adjustment aims to provide continuity for entities availing these tax benefits.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 96/2025 – Income Tax | Dated: 11th July, 2025
S.O. 3150(E).— In exercise of the powers conferred by sub-clause (iv) of clause (c) 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. 114/2021/F. No. 370142/37/2021-TPL] number S.O. 3881(E), dated the 20th September, 2021 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. 96/2025/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. 3881(E), dated the 20th September, 2021 and subsequently amended vide notification number S.O. 2852(E), dated the 18th July, 2024.
