CBDT Revises Form 161 for Penalty Waivers with New Disclosure and Payment Rules
The Central Board of Direct Taxes (CBDT) has notified a revised Form 161, effective from October 8, 2026, allowing taxpayers to request penalty waivers under the Income-tax Act, 2025. The updated form requires detailed disclosures, including assessed income, under-reported income, tax payable, and payments made. Taxpayers seeking waivers must pay additional tax ranging from 100% to 120% of the relevant tax amount, depending on the nature of misreporting. The revision aims to reduce litigation and provide clearer procedures for penalty remission.
First-hand measurement across 3 sources
We measured how 3 outlets covered this story. No outlet gave this story a measurable political slant — there is no left–right reading to report. Overall sentiment is neutral (51/100). Lens Score 43/100.
Outlets measured: thefinancialexpress, economictimes, freepressjournal. See how each one headlined and framed the same story in the source comparison below.
AI Analysis
Sentiment was consistent across outlets (50–52/100), indicating broadly factual reporting rather than editorialising.
Coverage timeline
freepressjournal broke this story on 12 Oct, 07:42 am. Other outlets followed.