IT Notification No. 64/2026 Rectifies 76 Errors in the Income Tax Rules, 2026

The Central Board of Direct Taxes (CBDT), which operates under the Ministry of Finance, has released a notification to correct 76 mistakes found in the new Income Tax Rules for 2026.

The corrections, published via Notification No. 64/2026 [G.S.R. 286(E)] in the Gazette of India (Extraordinary), have the motive to ensure precision and consistency across the extensive set of rules rolled out on March 20, 2026, via G.S.R. 198(E).

The notification spreads multiple pages of the Gazette, which includes revisions from Rule 165 to Rule 243, and extends to various annexures, notes, and verification formats. Various technical adjustments have been incurred to align rule references, like superseding “section 242” with “rule 242” and standardising terminology across reporting forms.

The significant revisions are corrections in transfer‑pricing methods (RPM, CPM, TNMM, CUP) where typographical errors like “adjustme t” and “articulars” have been replaced with “adjustment” and “Particulars.”

CBDT has facilitated identification pre-requisites by eliminating Aadhaar references from several columns and retaining PAN as the sole identifier in verification and reporting sections. Contact‑number fields have been reformatted to include country code and number, reflecting the Board’s effort to modernise data‑collection standards for international compliance.

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The notification rectifies structural numbering in parts dealing with recognition, office‑bearer details, operations, assets, and liabilities, bringing uniformity to the layout of forms and schedules. Minor textual changes like substituting “securitisation trust” with “Venture Capital Company or Venture Capital Fund” address definitional precision in specialised contexts.

Under the signature of Pankaj Jindal, Joint Secretary, the issued notification mentions the commitment of CBDT to keep procedural precision in the execution of the new income tax framework.

Read Notification No. 64/2026 [G.S.R. 286(E)]