Major Amendments to Income Tax Rules Announced by CBDT
The Central Board of Direct Taxes (CBDT) has issued Notification No. 97/2026, officially releasing the Income-tax (Third Amendment) Rules, 2026.
Key Highlights of the Notification:
- Introduction of Form ITR-BN: A new Income Tax Return Form, ITR-BN, has been introduced.
- Amendment to Rule 332: Rule 332 has been modified, incorporating Appendix IV. This new appendix will provide specific guidelines for filing returns in cases involving searches and requisitions.
These amendments are set to take effect from April 1, 2026.
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