CBDT weekly summary
CBDT updates 5-11 October 2026: Form 161 penalty waiver
CBDT replaced Form No. 161 so taxpayers can apply for waiver of penalty under section 440 of the Income-tax Act, 2025.
The week in brief
What changed
CBDT notified a new Form No. 161 and amended rule 231 to cover applications for waiver of penalty under section 440(2) of the Income-tax Act, 2025. The applicant must confirm no appeal is pending against the order and give payment details for the under-reported income.
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