The Ministry of Finance, through the Central Board of Direct Taxes, has issued Notification No. 98/2025 – Income Tax, dated July 11, 2025. This notification amends a previous one, S.O. 2910(E) of June 27, 2022, under the Income-tax Act, 1961, specifically regarding sub-clause (vi) of clause (b) of Explanation 1 to clause (23FE) of section 10. The core change is the extension of a critical date within the original notification. The phrase “31st day of March, 2025” has been replaced with “31st day of March, 2030” in the opening paragraph. This action effectively extends the period for which certain provisions under Section 10(23FE) of the Income-tax Act, 1961, remain applicable. This amendment applies to all activities, except those completed or omitted between April 1, 2025, and the publication date of this new notification. The principal notification has been amended once before, on July 18, 2024.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 98/2025 – Income Tax | Dated: 11th July, 2025
S.O. 3152(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. 69/2022/F.No. 500/SWF1/S10(23FE)/FT&TR-II-Pt.3] number S.O. 2910(E), dated the 27th June, 2022 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. 98/2025/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. 2910(E), dated the 27th June, 2022 and subsequently amended vide notification number S.O. 2854(E), dated the 18th July, 2024.
