Income Tax: CBDT revises Form 161 for penalty waiver applications, specifies misreporting categories

The notification, numbered 134/2026, is dated October 8, 2026.

Rule 231 amended

The amendment inserts the words “or waiver” after the word “imposition” in Rule 231. It also substitutes the existing Form 161 with a revised form titled “Application for seeking waiver of penalty under section 440(2) of the Income-tax Act, 2025”.

Revised form specifies misreporting categories The revised Form 161 requires applicants to provide personal details, including name, Permanent Account Number (PAN), address, mobile number and email ID.

It also seeks details of the assessment or reassessment order, including the tax year, the section under which the order was passed, the Document Identification Number (DIN), the date of the order, the date of service and the due date for payment specified in the notice of demand.

The form separately records under-reported income arising from misreporting under Section 439(11)(a) to (f), misreporting under Section 439(11)(g), and under-reported income not arising from misreporting.

Additional income-tax calculations

The form requires applicants to report tax and interest payable on assessed income and tax payable on under-reported income under the specified categories.

Payment details and declaration

Applicants must provide payment details, including the BSR code, date of deposit, challan serial number and amount paid.

The verification requires applicants to 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 in Section 440(5).