New Delhi, Oct. 9 -- The Central Board of Direct Taxes (CBDT) has amended Income-tax Form 161 through the Income-tax (Sixth Amendment) Rules, 2026, notified on 8 October 2026.

The notification, issued under Section 533 read with Section 440 of the Income-tax Act, 2025, states that Rule 231 has been amended by inserting the words "or waiver" after "imposition".

It also states that "for FORM NO. 161, the following Form shall be substituted", replacing the existing Form 161 with a revised version. The amendment updates the rule and form to add the waiver provisions. Here's what taxpayers need to know.

According to the IT Act 2025, "Form 161 is an application prescribed under section 440(2) for seeking immunity from imposition of penalty u...