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CBDT Revises Income Tax Form 161 For Penalty Waivers Under New Rules
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CNBC TV18•12-10-2026, 08:01
CBDT Revises Income Tax Form 161 For Penalty Waivers Under New Rules
- •The Central Board of Direct Taxes notified the Income-tax Sixth Amendment Rules, 2026, revising Form 161 for penalty waiver applications under Section 440(2) of the Income-tax Act, 2025.
- •The revised Form 161 is divided into Part A for personal details including PAN and DIGIPIN, and Part B for assessment details, order numbers, and under-reported income data.
- •Taxpayers seeking a penalty waiver must pay additional income tax at 100 percent for general under-reported income or 120 percent for misreporting cases, along with assessed tax and interest.
- •Applicants are required to provide complete payment details such as BSR codes and challan numbers, and must declare that no appeal has been filed against the order.
Key Questions Answered
The Central Board of Direct Taxes revised Form 161 through the Income-tax (Sixth Amendment) Rules, 2026, dividing it into Part A for personal details and Part B for assessment specifics, under-reported income, and payment particulars.
The revised form requires an additional income tax payment of 100% of the relevant tax amount for misreporting cases under Section 439(11)(a) to (f), and 120% for cases under Section 439(11)(g).
Taxpayers must verify the accuracy of the provided information, declare that no appeal has been filed against the relevant order, and undertake not to file an appeal before the expiry of the period specified under Section 440(5).
