REGD NO. JK––33

THE

JAMMU AND KASHMIR OFFICIAL GAZETTE

Vol. 139] Srinagar, Thu., the 20th August, 2026/29th Srav., 1948. [ No. 21

CONTENTS

English

Pages

Vernacular

pages

PART I-A–

Appointments,

promotions,

transfers

and

leave of absence sanctioned by the Governor,

Government and the Ministers ....

PART I-B–

Notifications,

Communiques

and

General

Orders by the Government and the Ministers ....

PART II-A– Appointments,

promotions,

transfers

and

leave of absence sanctioned by Heads of

Departments ....

PART II- B– Notifications, Notices and Orders by Heads

Departments,

Provincial

Heads,

Magistrates and other officers competent to

issue public notices under any law or rule ....

PART II-C–

Notifications, Notices and Orders by Election

Commission of India, Chief Electoral Officer,

Jammu and Kashmir and other Officers of the

Department,

Election

Petitions

and

Judgements of Election Tribunal ....

PART III–

Laws,

Regulations

and

Rules

passed

thereunder ....

PART IV–

Reprints from the Government of India Gazette

or Gazettes of others Governments....

PART V–

Information and Statistics ....

(a) Rates and prices in the State....

(b) Rates and wages ....

(d) Whether Observations ....

(e) Vital Statistics ....

SUPPLEMENT-A– Trade

Monthly Imports and Exports from the

State ....

SUPPLEMENT-B– Police ....

SUPPLEMENT-C– Advertisements

....

208-214

129-162

5159-5456

73-76

Printed at the Government Press, Srinagar.

No. 21]

The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 213

(hereinafter referred as “Rules of 2016”) as amended from time to time,

in the following manner :—

I. Entry No. 11 of Schedule-A appended to the Rules of 2016 is

hereby recast as under :

No.

Category

Grade

Jammu

Kashmir

Total

No.

posts

Cadre

11.

Head

Assistant

35600-112800

123

246 Divisional

II. Entry No. 14 of Schedule-A appended to the Rules of 2016 is

hereby recast as under :

No.

Category

Grade

Jammu

Kashmir

Total

No.

posts

Cadre

14. Steno-Typist 29200-92300

127 Divisional

III.

Entry No. 18 of Schedule-A appended to the Rules of 2016 is

hereby recast as under :

No.

Category

Grade

Jammu

Kashmir

Total

No.

posts

Cadre

18.

Junior

Assistant

25500-81100

336

316

652 Divisional

IV.

Entry No. 29 of Schedule-A appended to the Rules of 2016 is

hereby recast as under :

No.

Category

Grade

Jammu

Kashmir

Total

No.

posts

Cadre

29.

Office

Assistant

14800-47100

173

193

366

District

130 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

Director,

Archives,

Archaeology

Museums, J&K

Member

Director, (NMMA), ASI, GoI

Member

Regional Director, ASI, GoI

Member

Prof. Poonam Chowdhary, Head, Centre for

Studies in Museology, University of Jammu ^{Member (Expert)}

Prof. Suman Jamwal, Head, Department of

History, University of Jammu

Member (Expert)

Dr. Mumtaz A. Yatoo, Assistant Professor

(Archaeology), Centre of Central Asian

Studies (CCAS), University of Kashmir

Member (Expert)

Dr.

Aijaz

Ahmad

Bandey,

Professor

(Retd.), University of Kashmir

Member (Expert)

Superintending

Archaeologist,

ASI,

Srinagar Circle

Member-Secretary

The

mandate/functions

the

aforementioned

committee

shall be :—

(a) SLIC shall oversee successful implementation of mission

activities/mandate in Jammu and Kashmir.

(b) It will identify professional institutions and individuals who

can undertake projects relating to documentation of built

heritage, sites and antiquities.

periodically review the progress of documentation work. The

periodicity of meeting is quarterly in a year.

(d) It will propose measures to build a strong framework against

illegal trafficking of antiquities and destruction of monuments

and sites.

(e) The committee shall be serviced by the Director, AA&M.

By Order of the Government of Jammu and Kashmir.

Sd/-

B. M. SHARMA, IFS,

Principal Secretary to the Government.

————

132 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

Annexure “A” to Government Order No. 171-JK(HUD) 2026.

Dated : 17-08-2026

The Jammu & Kashmir Policy for Grant and Utilization of

Transferable Development Rights, 2026.

1. Introduction :—

1.1 The acceleration in urbanization is creating both opportunities

and challenges. The biggest challenge lies in addressing the

substantial infrastructural demands of this transition. Urban

Local Bodies and Development Authorities often struggle with

the financial burdens of this demand for amenities due to their

limited revenue sources. Additionally, land acquisition for public

purposes such as road widening and for creation of other

amenities is both costly and time-consuming.

1.2 To address these challenges, innovative funding methods are

necessary to develop urban infrastructure and amenities at the

required pace. Transferable Development Rights (TDR) are one

such innovative tool in funding urban infrastructure. TDR allows

the separation of the development potential of the land from the

land itself. While the land is surrendered to the authority for

public projects, the development rights of that land are captured

in the form of TDRs which can be used on other land parcels or

transferred to others in need. These rights entitle the holder to

additional

development

beyond

that

permitted

the

Development Control Regulations (DCRs). In this way, a public

resource i.e. development potential of an area, is harnessed to

obtain land for public amenities and accelerate the development

of infrastructure and amenities. On the other hand, those

surrendering land are incentivized by giving them better

compensation in terms of TDR, and more expeditiously,

compared to what they would otherwise get.

1.3 TDR is already in use in many cities globally as well as in India.

Given the benefits observed in other regions, there is a clear need

for Jammu and Kashmir to establish its own TDR policy to

support seamless economic growth and enhance the welfare of

its citizens.

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 133

2. Definitions.—

2.1 In the policy, unless the context otherwise requires, the words

and expressions used herein shall have the meaning as indicated

against each term.

Additional Buildable Area means the floor area in

square meter which the holder of a TDR Certificate is

entitled to build over and above the base Floor Area

Ratio as per the prevailing Development Control

Regulations. The terms Additional Floor Area Ratio or

Additional FAR shall be construed to mean the same

thing.

ii.

Acquisition Act means the Right to Fair Compensation

and Transparency in Land Acquisition, Rehabilitation

and Resettlement Act, 2013 as amended from time to

time.

iii.

Base Floor Area Ratio means the Floor Area Ratio,

which is available to all plot owners without any cost or

charge in the manner prescribed in Master Plan.

iv.

Competent Authority : The Vice Chairman of the

Jammu

Development

Authority

the

Srinagar

Development Authority, as the case may be; or such

other authority notified by the Government from time to

time.

Development Control Regulations (DCR) means the

provisions of the Master Plan, Zonal Plan, UBBL 2021

and all other attendant statutory provisions that apply to

any given building or development activity.

vi.

Floor Area Ratio (FAR) means the quotient obtained by

dividing the total Built Up Area (BUA) of all floors by

the plot area multiplied by 100. Floor Space Index (FSI),

which is obtained by omitting the multiplication with

100, shall be construed to mean the same thing while

calculating the entitlement to build.

vii. Generating Area means the area proposed for a public

project, including public amenities and facilities,

recreation, transportation, public housing or any other

infrastructure notified as such in terms of this policy;

viii. Government means the Government of Jammu and

Kashmir ;

134 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

ix.

Local Area means the area as notified in terms of

Section 3 of the Development Act, 1970 for that

Development Authority.

Market Value is the value of the land as notified in

terms of Jammu and Kashmir Preparation and Revision

of Market Value Guideline Rules, 2011 for the year in

which the land is developed or surrendered in lieu of

TDR.

xi.

Receiving area means an area notified by the Competent

Authority in terms of this policy, where any person is

permitted to use the TDR to build additional floor area.

xii. Policy means The Jammu and Kashmir Policy for Grant

and Utilization of Transferable Development Rights

(TDR), 2026.

xiii. Transferable Development Rights (TDR) means an

award specifying the additional buildable area that an

owner of a site or plot is entitled to receive in terms of

this policy, in lieu of the Development Rights foregone

or land area surrendered by him free of cost and free

from encumbrances to the Competent Authority, in

accordance with the provisions of this policy.

xiv. Transferable Development Rights Certificate (TDR

Certificate) means a certificate issued by the Competent

Authority as evidence of the entitlement of the holder

thereof to additional buildable area in accordance with

the provisions of this policy.

xv.

Transferable Development Rights holder (TDR

holder) means a person or persons, whether natural or

juristic, whose name or names, as the case may be, are

recorded on the TDR Certificate either by virtue of grant

of TDR in their favour by the Competent Authority or by

virtue of purchase from an existing holder of TDR, in

terms of this policy.

3. Notification of the Generating Area and Receiving Area

3.1 The Competent Authority shall notify the Generating Area

through the Master Plan as per the provisions of the Master Plan.

Wherever development is required in a specific area or land is

required in the local area for a public project envisaged in the

Master Plan or Zonal Plan, including for creating roads,

transportation, recreation, open spaces, public housing, or any

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 135

other infrastructure or other special use by the Government and

its agencies, the Competent Authority may notify the whole or

part of such area as the Generating Area for generating

Transferable Development Rights.

3.2 The

Competent

Authority

shall

publish/

notify

the

commencement of the public project at least 30 days before the

start of the project.

3.3 The notification shall include the following details :—

a. The infrastructure or amenity proposed to be created;

b. Particulars of the land area including name of the revenue

village, survey numbers of the properties, area of the plots

required under the project and the ownership of the land;

c. Site plan and map including GPS coordinates of the area so

required; and,

d. Tentative assessment of the quantum of Transferable

Development Rights to be generated in terms of additional

Floor Area Ratio.

e. The terms and conditions subject to which the TDR shall be

issued for the development rights or the land surrendered in

the area.

3.4 The Competent Authority shall publish the Generating Area as

an amendment to the Master Plan.

3.5 Simultaneous with the notification of the Generating Area, the

Competent Authority shall, having regard to the potential for

additional development in parts of the local area including

considerations of available road width, population density, the

level

existing

amenities

and

other

such

attendant

considerations, notify one or more such areas as Receiving Area

in which the Transferable Development Rights generated of any

Generating Area may be used.

3.6 The notification for Receiving Area shall include the following

details :—

a. Particulars of the road and segments thereof notified as

Receiving Area;

b. The extent in terms of percentage to which additional FAR

could be availed of in that area or in parts thereof;

c. Depth of the road upto which the receiving property could

avail of the additional Floor Area Ratio;

136 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

d. Site plan and map including GPS coordinates of the

Receiving Area; and,

e. Tentative assessment of the quantum of Transferable

Development Rights that could be received in terms of

additional Floor Area Ratio.

3.7 The Competent Authority shall specify an area to be Receiving

Area as notified in the Master Plan/ Regional Plan or notify a

new Receiving Area.

3.8 If in the opinion of the Competent Authority, in consequence of

the implementation of the project in the Generating Area, the

development potential of the Generating Area or the area in the

immediate vicinity thereof is increased, it may include the whole

or part of such area in the notification for Receiving Area.

3.9 If in the opinion of the Competent Authority, sufficient capacity

for additional Floor Area Ratio continues to remain unutilized in

the already notified Receiving Areas, it may, instead of declaring

any additional area as Receiving Area, specify in the notification

for Generating Area the areas with such spare receiving capacity

along with details of the unutilized capacity for additional Floor

Area Ratio.

3.10 If in the opinion of the Competent Authority, the outstanding

Transferable Development Rights cannot be fully accommodated

in the already notified Receiving Areas, it may notify additional

areas in the local area as Receiving Areas, through the Master

Plan amendment notification.

3.11 Before any area is notified as a Generating Area or Receiving

Area, the Competent Authority shall publish the notification in

draft to give sufficient opportunity to the interested parties to

give their objections and suggestions within a period of one

month. The Competent Authority shall ensure wide publicity of

the proposal, especially in the affected areas. Thereafter, the

Competent Authority shall, after considering and disposing of

the objections and suggestions received by it and with prior

written approval of the Government, notify the area as a

Generating Area or a Receiving Area, as the case may be. The

Competent Authority while notifying the receiving area would

do so in line with the Building Bye Laws of those areas.

3.12 The Competent Authority shall publish a notification regarding

announcement of Receiving Area as an amendment to the Master

Plan.

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 137

4. Transferable Development Rights

4.1

Transferable Development Rights (TDR) is compensation in the

form of Floor Space Index (FSI) or Development Rights which

shall entitle the owner for construction of built-up area subject to

provisions in this regulation. This FSI credit shall be issued in a

certificate which shall be called as Development Right

Certificate (DRC). Development Rights Certificate (DRC) shall

be issued by the Competent Authority under his/her signature

and endorse thereon in writing in figure and in words, the FSI

credit in square meters of the built-up area to which the owner or

lessee is entitled, the place from where it is generated and the

rate of that plot as prescribed in the Annual Statement of Rates

issued by the competent authority, for the concerned year.

4.2

Transferable Development Right Certificate can be awarded only

when such lands are transferred to the Competent Authority. The

award would be in the form of a TDR/DR certificate issued by

the Competent Authority.

Note :— (Revenue Department Jammu and Kashmir, have to issue a

Notification, stating that "Any Land which is Acquired in lieu

of T.D.R., the owner of the Land, the stamp duty or

Registration charged towards transfer of the land in favour of

Competent Authority is not applicable.").

5. Cases Eligible for Transferable Development Rights (TDR)

Compensation in terms of Transferable Development Rights (TDR)

shall be permissible for :

5.1

Land under various reservations for public purposes, new roads,

road widening etc. which are subjected to acquisition, proposed

in Draft or Final Development Plan, prepared under the

provisions of the Competent Authority.

5.2

Development or Construction of the amenity on the reserved

land.

5.3

Unutilized FSI or any structure or precinct which is declared as

Heritage structure or Precinct under the provisions of these

Regulations, due to restrictions imposed in that regulation.

5.4

In lieu of construction housing for slum dwellers according to

regulations prepared under the Competent Authority.

5.5

The purposes as may be notified by the Government from time to

time, by way of, modification to new addition of any of the

provision of sanctioned Development Control and promote on

Regulations.

138 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

5.6

If the owner of an unreserved accessible plot not falling in Non

Development Zone/ Green Zone (GZ) is willing to offer the land

for public purpose and the Municipal Commission or any

appropriate authority is of the opinion that such land is suitable

for public purpose then such land shall be deemed to be a

reservation and eligible for grant of TDR under this regulation.

5.7

Where award of land has already been declared and which is

valid under the Land Acquisition Act, 1894 or the Right to Fair

Compensation

Transparency

Land

Acquisition,

Rehabilitation and Resettlement Act, 2013 and Land Owners

wish to take the advantage of TDR, even though the possession

is taken over by authority, and agreed to return the part payment

received by him with interest in that case the applicant is entitle

to TDR as per these regulation.

6. Cases Not Eligible for Transferable Development Rights (TDR)

It shall not be permissible to grant Transferable Development Rights

(TDR) in the following circumstances :

For earlier land acquisition or development for which

compensation has been already paid fully.

ii. If the compensation in the form of FSI/ or by any means has

already been granted to the owner.

iii. Where lawful possession including by mutual agreement / or

contract has been taken.

iv. For an existing user or retention user of any required

compulsory open space or layout open space, in any layout

required/provided as per TP/DP Regulations.

7. Grant of Transferable Development Rights (TDR)

The entitlement of Transfer of Development Rights shall be as per the

below table :

Table 1 : Extent of Grant of TDR

Name

Conditions of

Development

Extent of

Grant of TDR

for

Development

Extent of Grant of

TDR for

Development +

Land surrender

Conditions

(a)

(b)

(c)

(d)

(e)

TDR-1 For the Master Plan

Road/Road

Widening/Proposed

Road/Road DP

Development

250% of FAR

foregone

250%

FAR

foregone + 100%

land

area

surrendered

Conditions as

per Para 8

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 139

TDR-2 For Public passage/

Easement/Margin/

Setback development

200% of FAR

foregone

200%

FAR

foregone + 100%

land

area

surrendered

Conditions as

per Para 8

TDR-3 For conservation or

development

lakes/ water bodies/

Nalas foreshores &

Recreational

buffer

development

with

greenery, etc.

250% of FAR

foregone

250%

FAR

foregone + 150%

land

area

surrendered

Conditions as

per Para 8

TDR-4 For

Heritage

buildings

and

heritage

precincts

maintained

with

adaptive

reuse

inclusive of land and

building.

As per Table

Conditions as

per Para 8

TDR-5 For Development of

affordable

houses

under

Jammu

and

Kashmir

Housing.

Affordable Housing.

Slum Redevelopment

and

Rehabilitation

and Township Policy

2020

100% of FAR

foregone

100%

FAR

foregone + 100%

of land surrendered

Conditions as

per Para 8

TDR-6 For development of

Affordable Housing

100% of FAR

foregone

100%

FAR

foregone + 100%

of land surrendered

Conditions as

per Para 8

TDR-7 For Development of

City level Facilities/

amenities for public

purposes

per

Master

Plan

proposals.

200% of built-

up area of the

amenity.

200% of built-up

area of the amenity

+ 100% of land

surrendered

Conditions as

per Para 8

TDR-8 For development of

non-buildable

area

such as Garden, Park,

Greenways, etc.

250% of FAR

foregone

250%

FAR

foregone + 100%

of land surrendered

Conditions as

per Para 8

TDR-9 Transfer of unused

FAR of a plot

Equal to (P x

FAR/100)-

BUA

Conditions as

per Para 8

Where,

BUA is existing Built Up Area on the plot

P is the area of part or whole of the Plot for which TDR is to be

calculated

140 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

Table 2 : Grant of TDR for Heritage properties

Type of

Heritage

Building

Precinct

as per

Govt.

notified

listing

Permitted

additions

to the

building

Permitted

modifications to the

building

Permitted repairs to

the building

TDR

Entitlement

(a)

(b)

(c)

(d)

(e)

Grade 1

None

All

repairs

architecture permitted

with

full

documentation

existing before start of

any repair work and to

restored

exactly

like it was.

500% of

FAR

foregone

Grade 2

None

All

unique

architectural

and

structural

elements

shall

not

altered/modified.

Toilets

may

upgraded using same

architectural

style.

Structural

strengthening shall be

permitted with using

the

same/similar

technology

originally built so as

not

lose

the

original character.

All

repairs

architecture permitted

with

full

documentation

existing before start of

any repair work and to

restored

exactly

like it was, and using

the same technology

was

used

for

building it.

400% of

FAR

foregone

Grade 3

None

All

unique

architectural

and

structural elements to

be preserved. General

alterations to floor,

walls

maybe

permitted.

Toilets

may be upgraded to

keeping similar style

as far as possible.

Structural

strengthening

permitted.

All

repairs

architecture permitted

with

full

documentation

existing before start of

any repair work and to

restored

exactly

like it was.

300% of

FAR

foregone

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 141

7.1

In case the permitted Floor Area Ratio for a land included in the

notification for Generating Area is less than 100, the Floor Area

Ratio for such land shall be deemed to be 100 for the purpose of

calculating the TDR entitlement of the landowner.

7.2

The additional Floor Area Ratio to which the TDR Certificate

shall entitle the holder thereof shall be indicated in square meters

and shall be the product of the Development Rights foregone or

area surrendered, the base FAR for that land parcel, and the

percentage indicated at Table 1 above.

7.3

Provided also that Additional / incentive Transferable

Development Rights (TDR) to the extent of 20% and 10% and

5% of the surrendered land area shall also be allowed to the

landowners who submit the proposal for grant of Transferable

Development Rights (TDR) and if land is surrendered to

Competent Authority within 6 months, 9 months and 12 months

respectively from the date of coming into force of these

Regulations. The owner may opt for the said entitlement in the

form of FAR on the balance plot or in the same layout as

permissible under these Regulations.

7.4

The TDR may be arrived at based on relative land value and

equivalent amount in both export and import areas, as per the

Revenue Department records. The Competent Authority shall

have the discretion in the matter of applicability of TDR. The

TDR shall not be allowed in unauthorized buildings / structures

/constructions and shall be considered only after the land is

vested with the local authority/UDA. The TDR certificate issued

would be valid or utilized / disposed only within the concerned

local body areas, influence area and as per guidelines and

conditions prescribed from time to time.

(Above entitlement may also be applicable to the compensation

paid in the form of FSI to the owner to be utilised on unaffected

part of same land parcel and in such cases the procedure of DRC

shall not be insisted).

Development Conditions for Availing TDR

In case of Development Rights foregone, the ownership of land

shall remain with the landowner. In case of land surrendered, the

ownership of land shall be transferred to the Competent

Authority after removing all encumbrances and legal disputes

and as per conditions laid under. The following norms shall

apply :

142 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

8.1

For the Master Plan Road/ Road Widening/ Proposed DP

Road/Road Development:

TDR-1 shall be calculated as per formula in the Table 1,

Para 7.

ii. The TDR Certificate shall be issued to the plot owner/

property owner within 30 days of making the application

after notification of the Master Plan.

8.2

For Public passage/ Easement/Margin/Setback development

TDR-2 shall be calculated as per formula given in the Table

1, Para 7.

ii. The TDR Certificate shall be calculated and issued for the

area of land that the landowner agrees for foregoing of

Development Rights or surrendering to the Competent

Authority.

iii. The TDR Certificate may be utilized by the landowner on

the remaining part of land or in the Receiving Area as per

Master Plan.

iv. The landowner shall remove encumbrances like boundary

wall or any other structure and develop the same as per

given development controls as per the approved Zonal Plan/

Layout Plan/ LAP and always make it available for public

use, failing which, the TDR Certificate shall be withdrawn/

cancelled automatically.

8.3

For conservation or development of lakes/ water bodies/ Nalas

foreshores & Recreational buffer development with greenery,

etc.

TDR-3 shall be calculated as per formula given in the

Table 1, Para 7.

ii. The TDR Certificates generated from such plots shall not be

permitted to be utilized on the same plot.

iii. The TDR Certificate can be utilized by the property owner

only after complying to the following conditions :

a. All impervious surfaces are taken out of the site,

including the building, boundary walls, paving, etc. by

the property owner.

b. The land is brought to a natural state and specified

plantations done or leveled as specified by the

Competent Authority for the land parcel.

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 143

c. The land is given direct access from the road.

d. Land is free from encumbrances and legal disputes.

e. Land is developed to specifications as decided by the

Competent Authority.

8.4

For Heritage buildings and heritage precincts maintained with

adaptive reuse inclusive of land and building.

TDR-4 shall be calculated as per the given fornula in the

Table 1, Para 7.

ii. Property owners availing financial consideration through

such TDR shall conform to the conditions as per Table 2 of

Para 7.

iii. The owner availing TDR shall maintain the heritage

building or precinct in its original character and shall be

responsible for its protection and conservation.

iv. The owner shall be allowed to put the building to any use

provided that the architectural elements and its uniqueness

remain uncompromised.

8.5

For development of affordable houses or EWS housing under

Jammu and Kashmir Housing, Affordable Housing, Slum

Redevelopment and Rehabilitation and Township Policy 2020

TDR-5 shall be calculated as per formula given in Table 1,

Para 7.

ii. The TDR Certificate may be utilized by the landowner on a

part of the same plot, whole plot, or another plot/(s) in the

Receiving Area as notified in the Master Plan.

iii. For utilizing the TDR Certificate in the same plot, the

landowner shall construct affordable housing or EWS

housing following the applicable Building Byelaws and as

per the J&K HASRRT Policy 2020 and shall inform the

Competent Authority of its intention to build such Housing

on the plot through application. The Competent Authority

shall provide specifications and inspect the construction at

various stages of the project.

iv. The units so constructed shall be handed over to the

Competent Authority for allocation as per provisions of the

HASRRT Policy 2020. A fixed amount calculated as per

latest J&K SoR per sqm per unit shall be paid to the

landowner at the time of handing over of the unit. The

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 145

8.7

For Development of City level Facilities/ amenities for public

purposes as per Master Plan proposals, other than Slum

upgradations, EWS or Affordable Housing.

TDR-7 shall be calculated as per the formula given in the

Table 1, Para 7.

ii. A landowner shall inform the Competent Authority of its

intention to build such Housing on the plot through an

application. The Competent Authority shall provide

specifications and inspect the construction at various stages

of the project.

iii. The public amenity shall be constructed to the specifications

provided and shall be handed over to the Competent

Authority free of cost after construction and due inspections.

iv. No modifications/ additions to the public amenity shall be

permitted by the landowner after it is handed over to the

Competent Authority.

The public amenity shall have direct public access from the

road, failing which, the TDR Certificate shall be cancelled.

vi. The public amenity shall not be counted towards FAR of the

plot.

8.8

For development of non-buildable area such as Gardens, Parks,

Greenways, etc.

TDR-8 shall be calculated as per the formula given in the

Table 1, Para 7.

ii. The TDR Certificate can be utilized by the landowner only

after complying to the following conditions :

1. All impervious surfaces are taken out of the site,

including the building, boundary walls, paving, etc. by

the property owner.

2. The land is brought to a natural state as specified by the

Competent Authority for the land parcel.

3. The land is given direct access from the road.

4. Land is free from encumbrances and legal disputes.

5. The park/garden/greenway is developed to specifications

provided.

146 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

8.9

Transfer of unused FAR of a plot

TDR-9 shall be calculated as per the formula given in the

Table 1, Para 7

ii. Landowners within or outside of Receiving Area may utilize

unused FAR of their plot to apply for a TDR certificate from

the Competent Authority and sell the unused FAR it to any

entity or entities in the Receiving Area.

iii. After the TDR Certificate has been issued, the landowner

may not make any additions to his/her property. On making

any additions to the property, the TDR Certificate issued by

the Competent Authority shall stand nullified.

9. General Terms and Conditions for Issuance of TDR Certificates

9.1

The TDR Certificate shall be issued only in the name of the

landowner and shall not be issued in the name of nominees,

agents or any other such persons.

9.2

If the Development Rights foregone or land surrendered stands

in the name of a partnership firm or any other legal form of

organisation, the TDR Certificate shall be issued in the name of

all the partners of that firm/organisation.

9.3

The Competent Authority shall maintain the record of each TDR

Certificate including details of its issuance, transfer, and

utilization, whether in whole or in part.

9.4

In case the TDR Certificate is defaced, lost, or destroyed and

sufficient proof thereof is submitted to the Competent Authority,

the same may be replaced on payment of a processing fees at the

rate of 0.1 (zero point one percent) of current market value of the

surrendered plot. Before issuing the duplicate TDR Certificate,

the Competent Authority shall satisfy itself that requisite

evidence of loss of the certificate and indemnity bond to

indemnify the Government and the Competent Authority against

any loss, is obtained from the applicant.

9.5

TDR Certificate may be utilized in part or whole and purchased

from/ sold to multiple entities.

10. Transfer of TDR Certificates

10.1 The TDR Certificate shall be a transferable and negotiable

instrument and the TDR Certificate holder may transfer it to any

person either in whole or in part.

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 147

10.2 The transfer of Transferable Development Rights can be made in

multiples of 20 square meters only except for the last remainder,

on an application made by the transferor and upon payment of

the processing fee prescribed by the Competent Authority.

10.3 Upon authentication of transfer by the Competent Authority after

duly satisfying itself of the genuineness of the existing TDR

Certificate and the existing holder, the TDR of the existing

holder shall stand extinguished to the extent of that transfer and

the new holder shall be recorded in the TDR records. The

existing TDR Certificate shall be surrendered, cancelled, and

kept in the custody of the Competent Authority, and new TDR

Certificate or Certificates, as the case may be, shall be issued.

10.4 The Competent Authority shall, from time to time, monitor and

supervise the market for Transfer of Development Rights taking

all necessary and required action to ensure smooth transactions

of TDR Certificates in the open market and to prevent any

malpractices leading to distortions in the market.

11. Utilization of Transferable Development Rights

11.1 A TDR Certificate may be utilized by the holder in whole or in

part on one or more plots or lands in the Receiving Areas

whether vacant or already developed fully or partially, by

erection of additional FAR or in any other manner consistent

with the prevailing Development Control Regulations.

11.2 At the time of their utilization, the TDR shall be normalized for

the relative market values of the generating and receiving land

parcels as it stood at the time of calculation of unused

development rights or surrender of property or allotment of the

affordable housing units, as the case may be, and the Additional

Buildable Area for utilization in the Receiving Area shall be

calculated as follows :

Additional Buildable Area in the Receiving Area = Additional

Buildable Area of the TDR Certificate utilized x (Market Value of

generating land parcel in the generating year/Market Value of

the receiving land parcel in the generating year).

11.3 The TDR Certificate utilizer desirous of its utilization in full or

in part, shall make an application to the Competent Authority

giving full particulars of the receiving land parcel including

details of revenue record and GPS coordinates.

11.4 The Competent Authority shall, after due verification of the

entitlement and the relative market values of the generating and

148 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

receiving land parcels, and after making requisite entries in the

certificates and ledgers, issue the utilization certificate addressed

to the relevant Building Permission Issuing Authority, specifying

the additional buildable area that the holder is entitled to

construct in addition to the base FAR.

11.5 The entitlement to additional buildable area shall extend only to

construction of FAR beyond the base FAR and shall be without

prejudice to any other requirement of the Development Control

Regulations.

11.6 Before issuance of the building permission in the aforementioned

case the Building Permission Issuing Authority shall cancel the

utilization certificate issued in favour of the applicant by the

Competent Authority and return it to the latter who shall keep it

in safe custody and make relevant entries in the official records.

11.7 The Competent Authority may restrain the TDR Certificate

holder from utilizing his rights in the following circumstances:

a. Under direction from a Competent Court.

b. Where the Authority has reason to believe that the TDR

Certificate has been obtained by producing fraudulent

documents or by misrepresentation.

12. Cancellation of TDRs obtained by fraud or misrepresentation

12.1 Where any owner or lessee of the land acquires TDRs by

fraudulent means or by misrepresentation, the TDR Certificate

issued in such case shall be liable for cancellation and such

person shall be liable for prosecution as per law.

12.2 If the TDRs acquired in the manner mentioned in the above para

have been utilized, the value of such TDRs on the date of

utilization shall be estimated by the Competent Authority to the

best of its satisfaction and shall, without prejudice to any other

consequence that such a person may suffer under law, be

recoverable from that person as an arrear of land revenue.

12.3 Before proceeding to make any determination to such effect, the

Competent Authority shall give the person affected a reasonable

opportunity of being heard.

13. Online Application for Issuance, Transfer and Utilization of

TDRs

13.1 To enable efficiency and transparency in the entire process, the

Competent Authority shall develop an online application for

generation, holding, transfer, utilization, and transaction records

152 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

1. Preface

The Union Territory of Jammu and Kashmir stands at a critical

juncture in its developmental trajectory. With a rich historical

heritage, diverse cultural landscape, and abundant natural beauty,

the region has immense potential for growth and modernization.

However, to unlock this potential, there is a pressing need for

innovative urban planning and sustainable development strategies

that can address the challenges of land fragmentation, inadequate

infrastructure, and uneven economic development.

In this context, the introduction of a Land Pooling Policy marks a

significant milestone. This policy aims to harness the expertise,

resources, and efficiency of private developers to create well-

planned, vibrant urban spaces that meet the needs of our growing

population. By consolidating fragmented land parcels and ensuring

equitable development, the policy seeks to transform the urban

landscape of Jammu and Kashmir, fostering economic growth,

enhancing the quality of life for residents, and preserving the

region's environmental and cultural integrity.

The policy is designed with a vision of inclusive and sustainable

development. It emphasizes the importance of collaboration

between landowners, private developers, and the government to

achieve common goals. By ensuring that landowners receive a fair

share of the developed land and benefits, the policy aims to promote

widespread

participation

and

mitigate

potential

conflicts.

Additionally, it incorporates robust regulatory frameworks and

safeguards to address environmental concerns and ensure that

development is in harmony with the region's unique ecological and

cultural context.

This draft policy is the result of extensive consultations with

stakeholders,

including

landowners,

urban

planners,

environmentalists, and private developers. It reflects a commitment

to transparency, fairness, and inclusivity. We believe that with the

right implementation and continuous feedback, this policy can serve

as a catalyst for the transformation of Jammu and Kashmir's urban

areas into modern, livable, and economically vibrant spaces.

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 153

Definitions

Appropriate Government means Housing and Urban

Development Department, Government of Jammu and

Kashmir.

ii.

Consortium-A group of land owners, who have got together

through a legally binding agreement and formed an

organization, whether as a registered trust, society or a non-

profit company under the appropriate laws in force, with an

objective of land pooling.

iii.

Contiguous Areas - Means an area within the Area of

jurisdiction of Development Authority or ULB as notified

by the Appropriate Government.

iv.

Designated Land Pooling Officer Means an officer of the

Development Authority or ULB as appointed by the

Government/Authority.

Development Organization (DO) Means the Development

Authority constituted under section 3(1) of the Jammu and

Kashmir Development Act, 1970 and any other organization

as may be notified by the Appropriate Government.

vi.

Developer Entity or DE Means a duly registered entity

(developer/business/corporate entity) having rights, duties

and obligations in accordance with law, which represents a

group of landowners who have pooled more than one land

parcels, through a legally binding agreement, for unified

planning, servicing and sub-division/share of the land or any

other defined action for development of sectors under the

land policy as per prescribed norms and guidelines. The

Developer Entity may be in the form of registered trust,

society or a non-profit company or any other legal form of

organization.

vii. Development Purpose means and includes planned urban

residential,

commercial,

industrial,

institutional

and

infrastructure development or any other purpose as may be

decided by the appropriate government.

viii. External Development Charges [EDC] - means the charges

to be paid by Developer Entity towards the cost of

constructing, laying and installing the public infrastructure

154 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

and services, including inter-alia roads, water supply,

sewerage and drainage systems, electricity supply, greens

etc. at the Zonal/city level infrastructure.

ix.

Implementation Plan means the plan submitted by the

Developer Entity, including details of redistribution of

developed land/ built space amongst the landowners, or any

other form of fair exchange as decided, through a valid

agreement in accordance with law. The plan shall also

include details of the sub projects, that the DE intends to

develop separately, share of EDC that will be paid by

respective DE and strategy for watch and ward of

organization.

Internal Development Charges [IDC] means the charges to

be borne by Developer Entity towards the cost of

constructing, laying, and installing the public infrastructure

and services, including inter-alia roads, water supply,

sewerage and drainage systems, electricity supply, greens

etc. at the neighborhood level infrastructure.

xi.

Land means land free from all encumbrances offered for the

specified development purpose by landowner and includes

land under mortgage with a Bank or a financial institution

subject to the condition such Bank or financial institution

provides a no objection certificate for offer of the land for

the specified development purpose by the landowner.

xii. Landowner means a landowner recorded as such in the land

records willing to offer land under his/her ownership and

possession, for the specified development purpose under the

provisions of this Policy.

xiii. Master Plan - Means the Master Plan prepared as per the

Jammu and Kashmir Development Act 1970

xiv. Policy - Means the Jammu and Kashmir Land Pooling

Policy, 2026

xv.

Pooled Area - Means 60% of the area in the Contiguous

Area that remains with the Consortium.

xvi. Service

Providing

Agencies-Means

the

government

agencies such as JK-PDDL, PHE, PWD, etc.

156 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

Consortium as prescribed and render their lands free from all

encumbrances to form part of the Land Pooling Scheme.

ii. The Development organization after notification of the

Contiguous Area and as soon as may be 70% of the Contiguous

Area land is assumed to be ready for the Land Pool, may

exercise the verification of land records from the Revenue

Department and shall issue a notification to all the Landowners

individually or through the Developer Entity as the case may

be, to register their Consortium.

iii. In each Land Pooling Scheme, the Developer entity/consortium

may retain 60% of the Contiguous Area and surrender the

remaining 40% to the Development Authority, free from all

encumbrances, for development of city level physical

infrastructure, recreational and public/semi-public (PSP)

facilities as per the Master Plan or Zonal Development Plans.

iv. The land available to the Developer Entity shall be utilized for

development of planned residential, commercial, institutional,

and infrastructure development including public and semi-

public facilities at neighborhood level as per the applicable land

use norms and building byelaws.

v. The Developer Entity shall mutually or upon already agreed

terms and conditions as the case may be, decide a formula for

redistribution of developed land/ built up space, or any other

form of fair exchange as part of an "Implementation Plan" and

convey the same to the Development Authority with the

consent of all landowners.

vi. The 60% of the land, as agreed between the Development

organization can also be developed as separate sub-projects by

the Developer Entity only after the overall integrated planning

has been completed with respect to the Land Pooling Scheme

and all due approvals have been obtained.

vii. External Development Charges [EDC] shall be applicable on

the entire Contiguous Area to cover the actual cost of providing

city-level infrastructure in the land kept reserved for

Development organization, that may be paid and may also be

done away with in lieu of further land of value proportionate to

the cost of infrastructure as per actuals in addition to

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 157

administrative charges that may be decided from time to time

by the Development organization for the land.

viii. Internal Development Charges [IDC] shall be applicable on the

entire Pooled Area to cover the actual cost of providing

neighborhood level infrastructure in the land kept reserved for

Consortium, that may be paid as per actuals by the individual

landowner distributed proportionately to the area of the

reconstituted plot size of each landowner. The same may also

be done away with in lieu of further land or Built-up Area

proportionate to the cost of infrastructure as per actuals in

addition to the fees/charges as agreed between the Consortium

and the Developer Entity.

Eligibility

The following will be eligible to be a part of this Policy :

Land parcels of any size can be brought under pooling,

provided they fall in the Areas notified by the Development

organization under this Policy. Landowners with any size of

land may register and express their interest to participate in

Land Pooling in the Policy.

ii. The land parcels being offered for pooling must be free from all

encumbrances and the landowner should have a valid and

lawful ownership and physical possession of the land parcel

proposed for pooling.

iii. The Notified Area shall become eligible for Land Pooling as

soon as a minimum of 70% of the land within the Contiguous

Area has been pooled.

iv. The land parcels in the Contiguous Areas that may remain un-

pooled may be allowed to develop at a later stage subject to :

a) Workability of the proposed layout plan in terms of

accessibility and other functional requirements.

b) The 40% of the land shall be made available for city level

infrastructure and facilities or as determined by the

Development organization from time to time of which,

land under Right of Ways (RoWs) as notified by the

Authority are surrendered to the Authority.

c) Payment of updated applicable EDC/IDC.

158 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

Role of Development Authority

Ensure smooth and fair implementation of the Policy.

ii.

Overall planning with respect to Master Plan and Zonal

Development Plan and the land to be utilized by the

Development Authority and service providing agencies for

provision of city level physical infrastructure, recreational and

public/semi-public (PSP) facilities.

iii.

Revision of Master Plan and Zonal Development Plans as and

when required.

iv.

Fixing and notification of RoWs with their network and

alignment in the entire notified area.

Facilitation of the entire process of planning and development

by Landowners/Group of Land Owners/ Development

Entities through a Single Window System for application,

verifications, approvals, etc. in a time bound manner.

vi.

Overall monitoring of provision of relevant infrastructure for

water supply, sewerage, drainage, power, transportation, etc.,

by service providing agencies in a time bound manner.

vii. Acquisition of any land, which has not been offered under

this policy and is required for effectuating the policy in the

Contiguous Area, in accordance with law. The cost of such

acquisition shall be borne by the Landowners/Group of

Landowners/Developer Entities.

viii. Ensuring sale of EWS housing stock handed over by the

Landowners/Group of Landowners/Development Entities as

per Policy.

ix.

Setting up and operation of a robust and credible dispute

resolution mechanism to address grievances/disputes that may

arise during the implementation of the Policy.

9. Eligibility and the Role of a Developer Entity

The Developer Entity intending to undertake a Land Pooling

Scheme shall obtain a License from the Development Authority

to formulate and implement a Land Pooling Scheme as per the

Policy only after a notification is issued by the Development

Authority specifying the Contiguous Area.

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 159

ii. The Developer Entity shall be registered promoter with JK

RERA.

iii. The Developer Entity shall arrange to aggregate the land as

specified in the notification through consent of the landowners

in a specified agreement on Rs.10 Non-Judicial Stamp Paper.

iv. The Developer Entity shall facilitate formation of the

Consortium as per the requirements of this policy.

v. The Developer Entity shall make the Land Pooling Scheme

[Layout Plan] in accordance with the Master Plan or the Zonal

Development Plan duly specifying the land reserved for the

Development Authority containing but not limited to the

following :

a. Revenue records of the land falling under the Land pooling

scheme.

b. Proposed Land use of the Land Pooling Scheme.

c. Location, numbering and area in sq.m., ownership of the

proposed reconstituted land parcels.

d. Proposed Built up area to be distributed among owners and

retained by the Developer Entity.

e. Proposed infrastructure facilities in the Land Pooling

Scheme.

f. Proposed Implementation Plan of the Area with the

Consortium along with phasing or time frame.

g. Break Up of the total cost of infrastructure development in

the area left with the Consortium.

h. All the base documents including but not limited to

affidavits of consent forms gathered from the owners of

lands.

vi.

The Developer Entity shall obtain all the necessary approvals

required for the formulation and implementation of the

scheme.

vii. The Developer Entity to facilitate deregister and reregister of

the original land parcels and newly reconstituted land parcels

respectively with the revenue department and submit the

ledger duly authenticated by the Revenue Department to the

Development Authority.

viii. EWS shall be provided as per Master Plan provisions.

160 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

ix.

If the Developer Entity wishes to construct the public

infrastructure, it may submit plans and drawings for the

approval to the Development Authority, who may consider

the same and provide TDR and/or compensate in any other

way, as may be mutually agreed between them.

10. Process of Land Pooling

Subject to the other provisions of this Policy land pooling process

shall be governed by the following guidelines :

Upon Notification of the Contiguous Area by the

Development Authority, the landowners may be notified to

form a Consortium for the purpose of this Policy within 60

days which may be extended by the Development Authority,

if they so deem it necessary, for further period not exceeding

30 days.

ii.

The Consortium either by itself or through the Developer

Entity shall propose the Land Pooling Scheme and get it

approved from the Development Organisation.

iii.

Each landowner will surrender land as per their mutual

Agreement and Registered Deed, free of encumbrances

required for city level services and city level infrastructure in

a sector, as per the approved network of RoWs in the notified

area, irrespective of land uses assigned to their original land

in the Master Plan.

iv.

Development Authority and the Service Providing Agencies

will develop city level physical infrastructure, recreational

and public/semi-public (PSP) facilities on 40% of the pooled

land, as agreed on payment of EDC charges or in further lieu

of land by the Developer Entity on the total pooled land.

The remaining land shall be utilized and developed by the

Developer Entity as per the provisions of Master Plan or

Zonal Development Plan.

vi.

The land that would be returned to the individual landowners

will be in proportion to the land pooled by each land owner,

however the same shall be done as follows :

a. Individual

Landowner

shall

entitled

the

reconstituted plots based on the previously agreed terms

and conditions.

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 161

b. The Developer Entity shall get a TDR on unused FAR, if

it wishes to sell it in Receiving Areas as defined in the

Master Plan.

11. Grievance Redressal Mechanism

A two-stage Grievance Redressal Mechanism shall be in place to

resolve

all

disputes

and

anomalies

emerging

from

the

implementation of the Policy.

First stage Grievances Redressal Committee headed by the

Designated Land Pooling Officer with the Development Authority,

consisting of such members as may be decided by the Development

Authority. The committee will dispose of the grievance within 30

days of receipt of grievance.

If any Landowner/Group of Landowners/Developer Entity is

aggrieved by the decision of the first stage Grievance Redressal

Committee, the same may be represented before the Second

Grievances Redressal Committee within 30 days. This Committee

will be headed by the Vice Chairman/CEO of the Development

Authority and such other members as may be decided by the

appropriate government.

12. Planning Norms

The Land Pooling Scheme shall be formulated and implemented as

per the provisions of the Master Plan and Zonal Development Plans

and Building Bye Laws and only upon notification of such

Contiguous Areas by the Development Authority.

13. Online Process for Land Pooling Schemes

The Government of Jammu and Kashmir intends to make the

complete process online, to enable efficiency and transparency in

the entire process. All the data/permissions/approvals, etc., related

to Land Pooling Schemes shall be created, stored and conveyed in

digital format only through an application to be developed

exclusively for the purpose. However, during the intervening time in

which such online process gets ready for use, the applications may

be accepted and processed manually, subject to condition that the

same shall be integrated with the online system as and when it is

functional.

14. Time Frame for Completion of the Scheme

As soon as may be the Development Authority deems fit upon

completion of the scheme, it shall notify through publication in the

official gazette.

162 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

Any Land Pooling Scheme may be completed in phases however,

the cumulative time frame may not be extended beyond 5 years

from the date of formation of the Consortium.

No.

Activity

Time Frame

Formation of Consortium

60 days extended up to further

30 days

Submission of Land Pooling Scheme

the

Development

Authority

for

Approval

the

Developer

Entity/Consortium,

with

clear

provisions for funding both by the

Developer entity and also Development

authority for development

6 Months from the date of

formation of Consortium

Handing over of possession of Pooled

Land parcels to the Developer Entity

6 Months from the date of

approval

from

the

Development Authority

Handing over of possession of 40%

land of the Contiguous Area

Immediately on the approval of

scheme by the Development

Authority

Creation of infrastructure and Built up

area as per agreed terms and conditions

both by the Developer entity and also

Development authority

3 years from the date of

handing over of possession of

the

Pooled

land

the

Developer Entity

Handing over of possession back to the

legit owners of the reconstituted plots

Within 3 months from the end

of 3 years of creation of

infrastructure period.

15. Operation and Maintenance

Operation and Maintenance of the area developed under Land

Pooling scheme shall be responsibility of the Developer Entity or

the Consortium. The O&M of public amenities shall also be the

responsibility of the DE or Consortium, for which requisite

provisions in the agreement and scheme needs to be built.

The task of maintenance of the public infrastructure, which includes

roads, footpaths, cycle tracks, trees within RoW, water supply lines,

sewerage, lighting/electricity, gas lines, or any other public

infrastructure created shall be the responsibility of the Development

Authority or the Urban Local Body as the case may be.

5160 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

Whereas, Executive Engineer PWD(R&B) Division Core Srinagar

(Indenting Department) vide his communication No. EE/SGR/CORE/

LAC/148-53 dated 07-04-2026 has requested that the survey No. 624

may kindly be de-notified as the J&K Waqaf Board has issued NOC that

the survey No. is not required for any Beautification or Expansion

programme of the shrine.

Now, in view of above facts the survey No. 624 of village Khoja

Bazar Naqashband Sahib Tehsil Khanyar is hereby by de-notified.

Any Objection with regard to its denotification should be submitted

to the undersigned within 15 days.

Sd/-

Collector,

Land Acquisition, PWD

Srinagar.

———

GOVT. OF UT OF JAMMU AND KASHMIR

OFFICE OF THE DEPUTY COMMISSIONER PULWAMA

Subject :—Acquisition of land measuring 09 Marlas falling in estate

Nikloora Tehsil Shahoora Litter required for LIS Nikloora.....

regarding issuance of Declaration u/s 19(1).

———

Reference :—DCP/Coll/2026/125, dated : 10-07-2026.

Notification No. 07 of-Rev/LA of 2026

Dated: 14/07/2026

Whereas, it appears to the District Collector (Appropriate

Government) that a land quantum of 09 M is required for approach road

to LIS Nikloora in estate Nikloora Tehsil Shahoora Litter.

Whereas, Collector Land acquisition (Assistant Commissioner,

Revenue) Pulwama issued Preliminary Notification under section 11(1)

of the Right to Fair Compensation and Transparency in Land

Acquisition, Rehabilitation & Resettlement Act 2013 vide No

DCP/Coll/2025/513-19, dated 09-03-2026 for calling upon the

objections, if any, from the interested persons/land owners.

Whereas, in response to the said notification, one objection stands

received in which a person whose land was temporarily used by the

Irrigation Department by laying boulders there, has sought compensation

of his land. Since as per the report of the Collector, the said land is

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5161

outside the land under acquisition, therefore the complaint does not

pertain to the Notified land.

Whereas, as per the S.O.-17 Dated 14-01-2022 in exercise of the

powers conferred by provision to clause (e) of Section 3 of the Right to

Fair Compensation and Transparency in Land Acquisition, Rehabilitation

and Resettlement Act, 2013 (30 of 2013), the Government of Jammu &

Kashmir whereby designated Deputy Commissioner/District Collector of

each District of Union Territory of Jammu and Kashmir as “Appropriate

Government” within their respective jurisdiction for acquiring land for

public purpose under the said act for an area not exceeding 400 Kanal

(50 acre).

Whereas, in accordance with S.O.17 the Collector Land Acquisition

(Assistant Commissioner Revenue) Pulwama submitted the instant

acquisition case for issuance of Declaration under Section 19(1) of Right

to Fair Compensation and Transparency in Land Acquisition,

Rehabilitation and Resettlement Act, 2013 vide above referred

communication.

Whereas, the “Appropriate Government” (District Collector) is

satisfied after considering the report made by the Collector Land

Acquisition (Assistant Commissioner Rev) Pulwama that the said land is

required for the public purpose.

Now, therefore, it is hereby declared under the provision of Section

19(1) of the Right to Fair Compensation and Transparency in Land

Acquisition, Rehabilitation and Resettlement Act, 2013, that the land

measuring 09M is required for approach road to LIS Nikloora in estate

Nikloora Tehsil Shahoora Litter.

The land statement and plan can be inspected in the office

of Collector Land Acquisition (Assisstant Commissioner Revenue)

Pulwama and Tehsildar concerned.

Sd/-

DR. BASHARAT QAYOOM, (IAS),

District Collector, Pulwama.

———

FORM VI

Preliminary Notification

[See sub-rule (1) of rule-25 and Section-11(1) of the Act-30/2013]

OFFICE OF THE

ADDITIONAL DEPUTY COMMISSIONER, AWANTIPORA.

With the power of Collector Land Acquisition Awantipora, Under

section 3 (g) of the Right to Fair Compensation and Transparency in

Land Acquisition, Rehabilitation and Resettlement Act, 2013

5162 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

No. ADC/AWP/LAS/2026/05 of 2026

Dated 31/07/2026

Whereas, it appears to the appropriate Government that a total of

01Kanal & 06 Marla of land is required under survey No. 927min of

estate Reshipora Tehsil Awantipora District Pulwama for public purpose

namely acquisition of land for establishment of Police Post Reshipora

Awantipora.

Whereas, a committee was constituted by this office under sub rule

(1) of rule 4 of the Jammu and Kashmir Right to Fair Compensation and

Transparency in Land Acquisition, Rehabilitation and Resettlement

(Social Impact Assessment and Consent) Rules 2023 vide Order No. 02

of 2026 dated 16.06.2026 under endorsement No. ADC/AWP/2026/

97-105 dated 16/06/2026 to visit the spot along with the representatives

of Requiring Body and to make a preliminary enquiry regarding the

proposed acquisition. The committee submitted its report which is as

follows:

(i)

That the indenting department was offered

State/Government land at various locations for the

proposed acquisition and have not found any

suitable land and has agreed to the proposed land

which serves public purpose;

(ii)

That the extent of land proposed for acquisition is

the

absolute

bare-minimum

needed

for

the

purpose/project ;

(iii)

That the acquisition of land at an alternative place

has been considered and found not feasible;

(iv)

That there is no sufficient/suitable unutilized land

which has been previously acquired in the area;

(v)

That there is no State/Government/Common land

available which would serve the public purpose and

there is only option to acquire the proposed patch of

land which also include private land ;

(vi)

That no land, has been, acquired earlier and

remained unutilized, which may be used for such

purpose ;

(vii)

That the requisition is consistent to the provisions

contained in section 10 or other provisions of the

Act ; and

(viii)

During the spot verification it is ascertained that

there is no any involuntary displacement of persons

or any rehabilitation or adverse impact involved

with the proposed acquisition ;

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5163

(ix)

As such the proposed site is found to be feasible for

establishment of Police Post Reshipora Tehsil

Awantipora and may be acquired.

There is no any involuntary displacement of persons or any

rehabilitation or adverse impact involved with the proposed acquisition.

The said report was considered SIA report as envisaged in Chapter

III Rule 8 of the Jammu and Kashmir Right to Fair Compensation and

Transparency in Land Acquisition, Rehabilitation and Resettlement

(Social Impact Assessment and Consent) Rules 2023.

Whereas, District Collector Pulwama vide No. DCP/LA/2026/

183-84 dated 21/07/2026 permitted/authorized to issue the Preliminary

Notification under sec. 11 of the Right to Fair Compensation in Land

Acquisition, Rehabilitation and Resettlement Act, 2013 for the said

purpose strictly under rules.

Therefore it is notified that for the above said project in Rural estate

Reshipora Tehsil Awantipora & District Pulwama, a piece of land

measuring 01Kanal & 06 Marla whose detailed description is as

following is under acquisition :—

No.

Khasra No/

Survey No.

Type of Title

Private/Govt/

Common

Type of Land Rural/

Urban

Area under

Acquisition

927 min

Private

Gair

Mumkin

Banjri

Qadeem Safeed Zar/ Baid

Zar Rural

01K & 06M

Trees

Structures

Variety

Number

Type

Plinth area

Nil

This notification is made under the provisions of Section 11(1) of

the Right to Fair Compensation and Transparency in Land acquisition,

Rehabilitation and Resettlement Act, 2013 (Act No. 30/2013), to all

whom it may concern.

A Plan of the land may be inspected in the office of the District

Collector and Collector Land Acquisition Awantipora on any working

day during the working hours.

The Government authorizes Collector and his revenue field staff to

enter upon and survey land, take levels of any land, dig or bore into the

sub-soil & do all other acts required for the proper execution of their

work as provided and specified in section 12 of the Act.

5164 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

Under sub section (4) of section 11 of the Act, no person shall make

any transaction or cause any transaction of land i. e. sale/purchase, etc.,

or create any encumbrances on such land from the date of publication of

such notification without prior approval of the Collector.

Objections to the acquisition, if any, may be filed by the person

interested within 60 (Sixty days) from the date of publication of this

notification as provided under section 15 of the Act before Collector.

Sd/-

MUSHTAQ AHMAD LONE, JKAS,

Additional Deputy Commissioner,

Collector Land Acquisition,

Awantipora.

———

OFFICE OF THE COLLECTOR LAND ACQUISITION

(SUB DIVISIONAL MAGISTRATE BASANTGARH)

(DISTRICT UDHAMPUR)

Subject :—Acquisition of land measuring 07 Marlas and 05 Sarsai under

Khasra No. 106, situated at Village Basantgarh, Tehsil

Basantgarh District Udhampur for Construction of approach

road to the Primary Health Centre (PHC) Basantgarh Qunder

Preliminary Notification under sub-rule (1) of rule-25 and

Section-11(1) of the Act-30/2013 thereof.

———

Whereas, it appears to the appropriate Government that a total of

07 Marlas and 05 Sarsai Land under Khasra No. 106 is required in

Village Basantgarh Tehsil Basantgarh District Udhampur for public

purpose, namely "Construction of approach road to the Primary Health

Centre (PHC) Basantgarh" which is being executed by PWD

Department. Whereas, under Rule 4(1) of "Jammu and Kashmir Right to

Fair Compensation and Transparency in Land Acquisition, Rehabilitation

and Resettlement (Social Impact Assessment and Consent) Rules, 2022"

a preliminary committee consisting of officers from Revenue, Rural

Development, PMGSY, PWD (R&B), Forest, Agriculture and

Horticulture Departments was constituted for conducting Preliminary

Enquiry regarding the subject cited above. The committee so constituted

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5165

visited the spot and submitted the Preliminary Enquiry Report to this

Collectorate vide No. TBG/OQ/1086-1100 Dated 11/12/2025;

Whereas, the land owner (interested person) has given consent on

affidavit for acquisition of land measuring 07 Marlas and 05 Sarsai under

Khasra No. 106, situated at Village Basantgarh, Tehsil Basantgarh;

Whereas, Rule 8 of "Jammu and Kashmir Right to Fair

Compensation and Transparency in Land Acquisition, Rehabilitation and

Resettlement (Social Impact Assessment And Consent) Rules, 2022"

provides that where no involuntary displacement of persons due to

acquisition of land with no adverse impact, and no rehabilitation is

involved, then the Collector shall obtain report of the committee as

constituted under sub-rule (1) of rule 4 along with the consent of the

interested persons (at least 70%) which shall be considered as SIA

Report and in such cases the Collector shall proceed for issuance of

Preliminary Notification under section 11 of the Act within seven days.

Therefore, it is notified that for the above said project at village

Basantgarh, Tehsil Basantgarh, a piece of land measuring 07 Marlas

and 05 Sarsai is being acquired whose detail description is as under :—

No.

Khasra

No.

(Survey

No.)

Type of

Title

Private/

Govt./

Common

Type

of Land

Rural/

Urban

Area under

Acquisition

Trees

Structures

Marla

Sarsai

Variety

Number

Type

Plinth

area

Khasra

No. 106

Private

Rural

–

This notification is made under the provisions of Section 11(1) of

The Right to Fair Compensation and Transparency in Land Acquisition,

Rehabilitation and Resettlement Act, 2013 (Act No. 30/2013), to all

whom it may concern.

A plan of the land may be inspected in the office of the Collector on

any working day during the working hours. The Government authorizes

Collector and his Revenue field staff to enter upon and survey land, take

levels of any land, do all other acts required for the proper execution of

their work as provided and specified in section 12 of the Act.

Under sub section (4) of section 11 of the Act, no person shall make

any transaction or cause any transaction of land i.e. sale/purchase, etc., or

create any encumbrances on such land from the date of publication of

such notification without prior approval of the Collector.

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5167

that the form 'VAT-65' bearing Serial No. 0512981 to 0512985, have

been lost and the matter stands published in the following newspaper :—

1. State Times dated : 11-07-2026

The dealer has also furnished an Affidavit in this respect which is

placed on record. Hence, the below noted 'VAT-65' forms' are here by

declared as invalid for the purpose of sub section (5) (4) of the section

of 8 of the CST Act 1956. Anybody fraudulently using the said 'F' form

will render himself liable for penal action as per law.

Anybody finding the said ‘VAT-65’ Form, please return the same

to the undersigned.

No. of ‘VAT-65’ forms

: (05) Five only

Name and address of the dealer : M/S Ambe Trading Co F-98 Near

Airtel Tower Old Gura Bakshi Nagar

Jammu.

Registration No.

: 01831170953

Whether lost/stolen/destroyed : Lost.

Yours faithfully,

Sd/-

State Taxes Officer,

Circle ‘J’ Jammu.

———

NOTIFICATION

In my Aadhaar Card bearing No. 7972 4431 2792 my name is

recorded as ZENA while as my actual and correct name is ZAINA. Now

change/correction is required and the same is be correct in my Pan Card

in this regard.

Zaina W/o Abdul Jabbar Malik

R/o House No. 92 Lane No 3 Ibrahim Colony Bemina, Srinagar.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

5172 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

It is hereby notified for information that the application of one of our

employee namely Mr. Aashiash Kumar S/o Dwarika Nath R/o Begam

Tehsil & District Kulgam is pending in our Office for addition of his last

name "Fotedar" in his service/HRMS records.

If any individual has any objection with the addition of his last name

"Fotedar" in his service records.

District Social Welfare Officer,

Kulgam.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

This is to inform the general public that in Aadhaar Card records my

name is wrongly written as Owais Ahmad Ganie instead of Owais

Yousuf. Now, I want to apply for its correction.

Owais Yousuf

S/o Mohammad Yousuf Ganaie

R/o Moolu Shopian.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

5176 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Muzafar Ahmad Khan F/o Muheet Muzafar Khan R/o Bamnoo,

Tehsil Rajpora, District Pulwama, hereby notify the general public that

the name and date of birth of my Ward have been incorrectly recorded in

his Aadhaar records. The name of my Ward has been wrongly entered as

Moheet Muzafar, whereas the correct and actual name is Muheet

Muzafar Khan. Further, the date of birth has been wrongly recorded as

07-09-2019, whereas the correct date of birth, as per the Birth Certificate,

is 07-09-2020. Now, I am applying for its correction.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

I, Farrooz Ahmad Wani S/o Ghulam Rasool Wani R/o Kanigam,

Shopian, hereby notify the general public that the name and parentage

of my son have been incorrectly recorded in his Aadhaar Card

(Aadhaar No. 8529 7884 8043) as Kashaf Ferooz S/o Farooz Ahmad

Wani, which is incorrect. The correct and actual name and parentage of

my son, as reflected in his Domicile Certificate and School Records, are

Kashif Farrooz S/o Farrooz Ahmad Wani. Now, I am applying for its

correction.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

No legal responsibility is accepted for the publication of

Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5177

NOTIFICATION

This is inform to general public, that Maneer Ahmad S/o Habib

R/o Gundi Gujran Karnah Kupwara. I, hereby declare that my name has

been wrongly mentioned as Manir Ahmad Gujjar Dooray in Aadhaar

records. The correct name is Maneer Ahmad. Now, I am applying for

correction in her Aadhaar Card records accodingly.

Maneer Ahmad

S/o Habib R/o Gundi Gujran Karnah District Kupwara

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

This is for the information of the general public that my name and

date of birth have been wrongly mentioned in my Aadhaar Card as

Rehana Akhter & DoB 05/03/2002 whereas my correct particulars are

as per my school records Rehana Bano & DoB is 01/03/1995. I have

applied before the concerned Aadhaar authorities for correction of my

Name and Date of Birth in Aadhaar Card as per my school records.

Rehana Bano D/o Mohammad Abdullah Dar

R/o Hajan, Langate District Kupwara Jammu & Kashmir.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

5178 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Mohd Sidiq Kumar S/o Quadir Kumar, R/o Jawalapora Tehsil and

District Budgam, UT of Jammu & Kashmir, do hereby declare that in my

Aadhaar Card No. 2181 9199 3923, my details have been wrongly

recorded as name Mohammad Sadiq Kumar Father's name Ghulam Qadir

Kumar DoB 16/05/1953 my actual and correct name Mohd Sidiq Kumar

Father's Name Quadir Kumar DoB 23/01/1953 the correct details should

be recorded in all my official documents.

Mohd Sidiq Kumar

R/o Jawalapora, Budgam, J&K.

It is certified that I have complied with other legal requirement in

this connection.

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

I, Majabeen W/o Zakir Hussain Shapoo R/o Green Colony

Bhaderwah Doda have applied for correction of my name which has

been wrongly written as Mahjabeen Shapoo instead of correct name

Majabeen in my Aadhaar Card bearing No 3049 3414 7195.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5185

NOTIFICATION

This is to inform the general public that my name has been

incorrectly recorded in my Aadhaar Card bearing No. 8227 1480 1474 as

"Aiman Manzoor" instead of my correct name, "Aymen Khan" my

correct name Aymen Khan Wife of Manzoor Ahmad Khan R/o Ladu,

Ladoora, Rafiabad, District Baramulla, Jammu & Kashmir-193301.

I have applied for the necessary correction of my name in the Aadhaar

records.

Aymen Khan W/o Manzoor Ahmad Khan

R/o Ladu, Ladoora, Rafiabad, District Baramulla-193301.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

This is information to general public that my daughter’s name

and DoB has been wrongly submit in her Aadhaar Card bearing Aadhaar

No. 660773803289 as Sabreena Akhter and DoB is 11/04/2002 instead

of Sabhiya Akther and DoB is 04-03-2003. Now, I want to update her

name and DoB.

Mohammad Yousuf Bhat F/o Sabhiya Akther

R/o Chitru Dangerpora Tehsil Budgam District Budgam.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

5188 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

It is hereby informed to the general public that the father's name

recorded in the Aadhaar Card and previous Birth Certificates of Daanya,

D/o Tanveer Ahmad, Admission No. 0020, Class 9th (Tulip), DoB

02-03-2012, and Abdullah, S/o Tanveer Ahmad, Admission No. 0954,

Class 7th (Pansy), DoB 09-01-2014, studying at G.D. Goenka Public

School, was inadvertently recorded as "Tanveer Ahmad Bhat" instead of

correct name "Tanveer Ahmad". The necessary correction has been made

in the updated Birth Certificates.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

No legal responsibility is accepted for the publication of

Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

It is hereby informed to the general public that the father's name

recorded in the Aadhaar Card and previous Birth Certificates of

Daanya D/o Tanveer Ahmad, Admission No. 0020, Class 9th (Tulip),

DoB 02-03-2012, and Abdullah, S/o Tanveer Ahmad, Admission

No. 0954, Class 7th (Pansy), DoB 09-01-2014, studying at G.D. Goenka

Public School, was inadvertently recorded as "Tanveer Ahmad Bhat"

instead of correct name "Tanveer Ahmad". The necessary correction has

been made in the updated Birth Certificates.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

No legal responsibility is accepted for the publication of

Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

5192 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Dehru Ram S/o Late Sh. Amar Nath V.P.O Rajinder Pura Tehsil

Vijaypur District Samba, applying for the correction of name which is

wrongly registered in my Aadhaar Card bearing No. 6556 3422 2401 as

Dheru Ram. In my other documents record the name mention as Dehru

Ram. Now, I am applying for the correction of said correct name instead

of incorrect name in my Aadhaar Card.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

No legal responsibility is accepted for the publication of

Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

In Aadhaar record bearing Aadhaar No. 6977 1784 2115 my name

recorded as Peerzada Parvaiz Ahmad S/o Peerzada Gull Mohd instead of

Pervaiz Ahmad Shah S/o Gul Mohd Shah. Now, I am applying for the

correction of said correct name instead of incorrect name in my Aadhaar

Card.

Pervaiz Ahmad Shah S/o Gul Mohd Shah

R/o Akhal Kulgam.

It is certified that I have complied with other legal requirement in

this connection.

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

5194 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Smt. Jito Devi wife of Shri Gurdas, resident of Village Rajinder

Pura (Bagona), Tehsil & District Samba, hereby inform the general

public that due to an inadvertent error my particulars in my Aadhaar

Card have been wrongly recorded as Kamala Devi instead of Jito Devi,

Gurdas Chand instead of Gurdas, and DoB : 04.06.1953 instead of the

correct 08.04.1952. Now, I am applying for the correction of said correct

name instead of incorrect name in my Aadhaar Card.

Jito Devi W/o Shri Gurdas

Village Rajinder Pura (Bagona), Tehsil & District Samba.

It is certified that I have complied with other legal requirement in

this connection.

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

In Aadhar record bearing Aadhaar No. 3990 7955 8441 my Ward’s

name recorded as Kushboo Jan instead of Khushbo Riyaz. Now, I am

applying for the correction of said correct name instead of incorrect

name in my Aadhaar Card.

Rubeena Bano M/o Khushbo Riyaz

R/o Ponipora Kulgam

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5199

NOTIFICATION

I, Nazakat Hussain S/o Saif Din R/o Village Haveli, Tehsil Mandi,

District Poonch applying for the correction of my name which is wrongly

written as Mohd Nazakat instead of Nazakat Hussain in Aadhaar Card

bearing No. 6196 8152 5725. Now, I want to correct the same in this

regard.

It is certified that I have complied with other legal requirement in

this connection.

Disclaimer

No legal responsibility is accepted for the publication of

Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

It is hereby informed to the general public that my name and date of

birth have been incorrectly recorded in my Aadhaar Card as Kaiser

Ahmad Peer, DoB 05/06/1997, whereas my correct name is Kaiser

Ahmad Shah Peerzada and my correct DoB is 09/04/1997. Now, I am

applying for the correction of my name and date of birth in the Aadhaar

records.

Kaiser Ahmad Shah Peerzada S/o Shams U Din Peerzada,

R/o Trehgam, Kupwara

It is certified that I have complied with other legal requirement in

this connection.

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

5202 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

It is hereby informed to the general public that the name of my

Ward’s has been incorrectly recorded in her Aadhaar Card as Soliya

Nabi, whereas her correct name is Soliha Nabi. Now, I am applying for

the correction of her name in the Aadhaar records.

Ghulam Nabi Dar F/o Soliha Nabi

R/o Kunan, Trehgam.

It is certified that I have complied with other legal requirement in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

This is an information for general public that the Aadhaar Card of

my Son. bearing Registration No. 8052 3886 7930, his name and

DoB has been Mistakenly Mentioned as Mohd Kamil Sheikh, and DoB

as 14-03-2008, while as his Actual and correct name and DoB as per his

School Record is, Kamil Farooq Shiekh, and DoB is 10-01-2010. Now, I

want to apply for its correction in this regard.

Farooq Ahmad Shiekh F/o Kamil Farooq Shiekh

R/o S.K Payeen, Bandipora, District Bandipora.

It is certified that I have complied with other legal requirement in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5203

NOTIFICATION

I, Nilesh Kumar F/o Partik Pal R/o Lakhanpur Kaim Ganj

Farrukhabad Utter Pradesh A/p Lane No. 2, H. No. 256 Shakti Nagar,

Jammu state that my son’s name has been wrongly written as Prateek

instead of Partik Pal in his Aadhar Card bearing No. 252304102247.

Now, I am applying for correction of the same.

It is certified that I have complied with other legal requirement in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

NOTIFICATION

It is informed to the general public that my name has been wrongly

mentioned in Aadhaar Card as Kulsim Akhter while my correct name as

per my documents is Kulsooma Akhter. Now, I want to update my

name in Aadhaar Card as Kulsooma Akhter instead of Kulsim Akhter.

Now, I am applying for correction of the same.

Kulsooma Akhter W/o Gh. Hassan Parray

R/o Hari Parigam Pulwama Jammu and Kashmir -192123.

It is certified that I have complied with other legal requirement in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

———

. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5205

NOTIFICATION

It is hereby notified for the information of the general public that the

name of my son on Aadhaar Card bearing No. 8461 0537 4653 has been

nadvertently recorded as Mustakeem.However, his correct name, as

ecorded in his DoB Certificate is Mustaqeem Ahmad Bhat.Now, I am

applying to the competent Aadhaar authorities for correction of his name

from Mustakeem to Mustaqeem Ahmad Bhat in the Aadhaar records.

Neelofar Jan M/o Mustaqeem Ahmad Bhat

Behrampora Watergam Baramulla, District-Baramulla

J&K-193303

It is certified that I have complied with other legal requirements in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I want to correct my ward’s name in her Aadhaar Card bearing No.

5069 6109 4655 from Maham Mumin to Fatima Bint Mumin. Now, I am

applying for the Correction.

Mumin Mukhtar F/o Fatima Bint Mumin

R/o Sheeshbagh near Islamia College, Srinagar.

It is certified that I have complied with other legal requirements in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5207

NOTIFICATION

I, Saif Ali Awan F/o Mohammad Abu Bakr Awan R/o Rashanpora

hat my son's name has been wrongly mentioned in Aadhaar Card vide

Aadhaar No. 3897 0211 7656 as Abu Bakar Awan instead of Mohammad

Abu Bakr Awan S/o Saif Ali Awan R/o Rashanpora. Now, I want to

hange my son's name from Abu Bakar Awan to Mohammad Abu Bakr

Awan.

Saif Ali Awan F/o Mohammad Abu Bakr Awan

R/o Rashanpora Tehsil Kralpora District, Kupwara.

It is certified that I have complied with other legal requirements in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

My name has been wrongly mentioned in Aadhaar Card vide

Aadhaar No. 9862 9842 0487 as Zeniba Begum instead of Zenib Begum

W/o Assadullah Lone R/o Mandian Tehsil Keran. Now, I want to correct

my Aadhaar Card from Zeniba Begum to Zenib Begum W/o Assadullah

Lone R/o Mandian Tehsil Keran which is correct as per record.

Zenib Begum W/o Assadullah Lone

R/o Mandian Tehsil Keran District, Kupwara

It is certified that I have complied with other legal requirements in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

18 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Mrs. Kounsar Rashid Mir W/o Mr. Reiaz Ul Rehman, R/o Hill

View Colony, Wanabal Rawalpora, Srinagar, J&K, do hereby notify the

general public and all concerned authorities that my name was

nadvertently recorded as Kounsar Reiaz Mir in Passport No. E5646936

expired on 02-09-2013). My correct and official name is Kounsar Rashid

Mir. Both names, refer to one and the same person. Henceforth, I shall be

known and identified by the name Kounsar Rashid Mir for all legal,

official, and personal purposes.

Kounsar Rashid Mir W/o Reiaz Ul Rehman

R/o Hill View Colony, Wanabal Rawalpora, Srinagar.

It is certified that I have complied with other legal requirements in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

This is an information for general public that the Aadhaar Card of my

Son bearing Registration No. 3019 9056 9938, his name and DoB has

been mistakenly mentioned as Raziwan Jamil Lone, and DoB as 05-08-

2019, while as his Actual and correct name and DoB as per his Domicile

Certificate and Birth certificate is Rizwan Jamil, and DoB is 05-02-2021.

Now i want to apply for its correction.

Jamil Ahmad Lone F/o Rizwan Jamil

R/o Malangam, P/O Baduab, Tehsil Tulail, District Bandipora, J&K.

It is certified that I have complied with other legal requirements in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5221

NOTIFICATION

I, Lata Devi W/o Sh. Pawan Kumar Sharma R/o H.No. 28, Near JK

Bank, Main Stop Janipur Colony, Janipur, Jammu 180007 applying for

he correction of name of my own which is wrongly written as Lata

Sharma instead of correct name Lata Devi on his Aadhaar Card bearing

No. 5740 9620 6919. Now, his correct name is Lata Devi.

It is certified that I have complied with other legal requirements in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

This is inform to the general public that my name has been wrongly

mentioned in my Aadhaar Card as Mohammad Abbas Khan While as my

actual name is Mohammad Abass Khan C/o Mohammad Sultan Khan R/o

Negrimalpora Kupwara District Kupwara 193222. Now, I want to apply

for the correction of the same.

Mohammad Abass Khan C/o Mohammad Sultan Khan

R/o Negrimalpora, Kupwara

It is certified that I have complied with other legal requirements in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

22 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Rakesh Kumar Ahirwal, S/o Putaiya Ahirwal, R/o Anjani,

Damoh, Madhya Pradesh, at present residing at Bari Brahmana, Tehsil

Bari Brahmana, District Samba, J&K (UT), do hereby declare that my

on's name has been wrongly recorded in his Aadhaar Card bearing No.

7457-9931-9624) as Deepal Ahirwal. The correct name of my son is

Deepak Kumar Ahirwal, DoB 20-02-2011, as per his Birth Certificate and

other valid records. Both the names refer to one and the same

person.Hericeforth, the correct name Deepak Kumar Ahirwal shall be

used for all official, legal, and future purposes

It is certified that I have complied with other legal requirements in

this connection.

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UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Santosh Kumar S/o Bej Nath R/o Pullar Tehsil Nagseni district

Kishtwar stated that my daughter’s namely Akshara Devi and Akshita

Devi name has been wrongly written in Aadhaar Card as Akhshara Devi

and Akshata Devi instead of Akshara Devi and Akshita Devi. Now, I have

applied for correction of the same

It is certified that I have complied with other legal requirements in

this connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of

UT of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5225

NOTIFICATION

My name has been wrongly mentioned in my Aadhaar Card bearing

Aadhaar No. 3815 8698 8605 as Asif Ahmad Bhat instead of Mohmad

Asif Bhat. Now, I am applying for its correction.

Mohmad Asif Bhat S/o Gh Mohi Ud Din Bhat

R/O Kangri Pora Khag Budgam.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Akhater Shaqoor S/o Ghulam Nahi Teli R/o Iram Line, Budshash

Nagar, Nabla Masjid, Sector-H. Natipora, Srinagar do hereby declare that

I was earlier issued Passport bearing No. 11926185 which expired in the

year 2023. That in my earlier passport, my particulars were recorded as

Akhtar Shakoor F/o Gulam Nabi R/o Qalamdanpora, Near Muslim Girls

School, Fateh Kadal, Srinagar. Now, I have now changed and adopted my

correct particulars, which are duly reflected in my Aadhaar Card as

Akhater Shaqoor F/o Ghulam Nabi Teli R/o Iram Line, Budshah Nagar,

Nabla Masjid, Sector-H. Natipora, Srinagar, J &K.That the above changes

pertain only to my name, parentage, and residential address, whose

particulars appeared in the earlier passport are one and the same

individual.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5228 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

It is hereby notified for the information of the general public that my

name has been wrongly recorded in the J&K Bank Financial Services Ltd.

(IN302349) DP Division (NSDL) with ID 10265704 as Naresh Chander

Langer S/o Sh. Krishan Lal Langer. My correct particulars, as per my

Aadhaar, PAN and DoB records are Naresh Chander S/o Sh. Krishan Lal,

R/o 61, Apna Vihar Colony, Kunjwani, Jammu 180010. Now, I am

applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

My particulars has been wrongly mentioned in my Aadhaar

Record 8454 2685 9611 as Shafiya Manzoor D/o Manzoor Ahmad Chichi

R/o Chountwaliwar Lar Ganderbal while as my correct particulars as per

Domicile certificate is Shafia Manzoor D/o Manzoor Ahmad Chachi R/o

Chount Waliwar Lar Ganderbal. Now, I am applying for its correction.

Shafia Manzoor D/o Manzoor Ahmad Chachi

R/o Chount Waliwar Lar Ganderbal

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5231

NOTIFICATION

I have changed my name from Akhlaq Hussain Shah(old name) to

Syed Akhlaq Hussain (new name) Shah. In future I will be known as Syed

Akhlaq Hussain Shah. Now, I am applying for its correction.

Syed Akhlaq Hussain Shah S/o Ali Asgar Shah

R/o Bandi Sarai Uri Baramulla Kashmir.

Passport No. N6054568

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Mohammad Isaaq Dar S/o Manzoor Ahmad Dar R/o Chadoora near

Jam Factory Alamdar Road, Budgam, do hereby declare that my name has

been incorrectly recorded in certain documents as Mohd Isaaq Dar instead

of Mohammad Isaaq Dar and my mother’s name has been incorrectly

recorded as Rafeeqa Bano instead of Rafiqa. Now, I am applying for its

correction.

Mohammad Isaaq Dar S/o Manzoor Ahmad Dar

R/o Chadoora, Near Jam Factory, Alamdar Road, Budgam.

It is certified that I have complied with other legal requirements in this

connection.

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5241

NOTIFICATION

I, Bodh Raj S/o Sh. Fakkar Ram R/o Gajansoo Tehsil Marh, District

Jammu-181206 J&K UT state that my name has been wrongly written as

Budhi Ram instead of Bodh Raj in my Aadhaar Card bearing No. 4260

5767 2975. Now I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Sameer Andotra S/o Sh. Karan Singh R/o H.NO.216, SEC.5, Trikuta

Nagar, Jammu do hereby declare that the name of my son is written as

Samrath Singh in his Aadhaar Card No. 8774 0854 8612 which is

incorrect, whereas his correct name is Samarth Singh, which is correctly

mentioned in his Domicile Certificate and DoB Certificate. His DoB is

25.05.2010. That I undertake that Samrath Singh and Samarth Singh are

the names of one and same person

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5249

NOTIFICATION

This is to inform the general public that in Aadhaar Card records my

name and DoB is wrongly written as Rifat Jan and DoB is 03-03-1977

instead of Rifath Ara and DoB is 05-03-1981. Now, I am applying for its

correction.

Rifath Ara W/o Gh Hassan Bhat

R/o Bindoo Zalangam Tehsil Kokernag, District Anantnag.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

This is to inform the general public that in Aadhaar Card records my

name parentage and DoB is wrongly written as Nadee Jan D/o Manzoor

Ah Sheikh and DoB is 01-03-1995 instead of Nahida Akhter D/o Manzoor

Ahmad Sheikh and DoB is 15-03-1998. Now, I am applying for its

correction.

Nahida Akhter D/o Manzoor Ahmad Sheikh

R/o Takiya Magam Tehsil Kokernag, District Anantnag.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5259

NOTIFICATION

I, Shahnaz Akther W/o Mohd Jamil R/o Mankote, Tehsil Mankote,

District Poonch want to apply for correction of my daughter’s name and

declare that my daughter’s name is incorrectly mentioned as Asha Jameel

instead of Ayisha Jameel in my daughter Aadhaar Card bearing No. 3403

3090 2300. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Raja Begum W/o Late Nazir Ahmad Wani R/o Astan Mohalla Laroo

Kakapora Pulwama do hereby declare that my name has been wrongly

mentioned in my Joint holder in a demat account held jointly with Nazir

Ahmad Wani,in JKB Financial Services Ltd. as Raja Banoo instead of

Raja Begum. Now I am applying for its necessary correction.

Raja Begum W/o Late Nazir Ahmad Wani

R/o Laroo Kakapora Pulwama.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5261

NOTIFICATION

I, Bilal Ahmad Itoo Father of Itoo Azka Bilal Resident of Ara

Khoshipora, Tehsil Dooru, District Anantnag do hereby declare that my

Daughter's name has been incorrectly recorded in Aadhaar Card as Azka

Bilal instead of Itoo Azka Bilal, which is reflected in her other valid

documents. That Azka Bilal and Itoo Azka Bilal refer to one and the same

person. Now applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Hajra Begum, Wo//Late Abdul Hamid Ganie R/o Nigeenpora

Naidpora, do hereby declare that my name has been incorrectly recorded

in my Aadhaar Card as Hajara Bano instead of Hajra Begum which is

reflected in my other valid documents. That Hajara Bano and Hajra Begum

refer to one and the same person. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5264 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Mohammad Ashraf Dar S/o Gull Mohd Dar R/o Takiyabal, Tehsil

Bijbehara, District Anantnag, J&K do hereby declare that my name has

been wrongly misspelt/mentioned as Mohd Ashraf Dar on my Aadhaar

Card bearing No. 4495 7179 8719 and same needs to be corrected as

Mohammad Ashraf Dar. Now, I am applying for its correction.

Mohammad Ashraf Dar S/o Gull Mohd Dar

R/o Takiyabal Bijbehara.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Rubeena Bashir D/o Bashir Ahmad Wani R/o Pazipora Kounserbal

Tehsil DH Pora & District Kulgam do hereby that the actual and correct

name of is Rubeena Bashir but due to mistake in Aadhaar card bearing

No. 2820 4859 5213 it has been wrongly mentioned as Rubby Jan and

same needs to be rectified.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5277

NOTIFICATION

I, Faiza Bashir D/o Bashir Ahmad Bhat R/o Tantraypora, Palhallan,

Tehsil Pattan, P/o Pattan, District Baramulla, J&K hereby notify the

general public that my name has been inadvertently recorded as Fancy

Bano in my Aadhaar Card bearing No. 5106 1610 9851 whereas my

correct and actual name is Faiza Bashir. Now, I am applying for its

correction.

Faiza Bashir D/o Bashir Ahmad Bhat

R/o Tantraypora Palhallan, Tehsil Pattan, P/o Pattan,

District Baramulla, J&K.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Muneeba Begum W/o Mehboob Ahmed Khan R/o Sangri Bala

Ushkara, Tehsil Baramulla, District Baramulla do hereby declare that my

name has been inadvertently recorded as Zahoora Begum in my Aadhaar

Card bearing No. 6642 0568 6443. My correct and actual name is

Muneeba Begum. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5282 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No.21

NOTIFICATION

I, Chaspida Bano D/o Ghulam Hassan Mir R/o Malikpora, Tehsil

Pattan, P/o Pattan, District Baramulla, J&K hereby notify the general

public that my name has been inadvertently recorded as Chzsfeeda Bano

in my Aadhaar Card bearing No. 8520 7731 4205 whereas my correct and

actual name is Chaspida Bano. Now, I am applying for its correction.

Chaspida Bano D/o Ghulam Hassan Mir

R/o Malikpora, Tehsil Pattan, P/o Pattan, District Baramulla, J&K.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Zarina Begum W/o Mohd Nazir R/o Rajnagar, Tehsil Kotranka, Sub

District Budhal, District Rajouri, J&K - 185233 hereby declare that my

name is wrongly recorded as Zareena Begum in my Aadhaar Card UID

No. 7501 7758 8105. The correct name is Zarina Begum. Now, applying

for its correction.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5284 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No.21

NOTIFICATION

This is to inform general public that my name as mentioned in my

Aadhaar Card bearing Aadhaar No. 6397 6144 7219 has been incorrectly

recorded as Zabia while as my actual name is Zeba Begum. Now, I want

to apply for the correction of same in my Aadhaar from old name Zabia to

new name Zeba Begum. In future, I will be known as Zeba Begum.

Zeba Begum W/o Shabir Ahmad Dar

R/o Kanter Bugh, Pattan, Baramulla, J&K.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Mohd Iqbal S/o Aziz Din R/o Village Kandi, Tehsil Kotranka, Sub

District Budhal, District Rajouri, J&K hereby declare that my name is

wrongly recorded as Mohammed Iqbal in my Aadhaar Card UID No. 5037

2995 4992. The correct name is Mohd Iqbal. Now, I am applying for its

correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5286 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No.21

NOTIFICATION

I, Mohd Bilal S/o Mohd Dawood R/o Village Kanthol, Tehsil

Kotranka, Sub District Budhal, District Rajouri, J&K hereby declare that

my father's name is wrongly recorded as Mohd Ayoub in my PAN Card

bearing PAN No. GBLPB9060D. The correct name of my father is Mohd

Dawood. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Sabar Hussain S/o Mohd Qasim R/o Village Darman (Dramman),

Post Office Draj, Tehsil Kotranka, Sub District Budhal, District Rajouri,

J&K - 185233 hereby declare that my daughter's name and DoB are

wrongly recorded as Ameena Kouser and 15-06-2011 in her Aadhaar Card

UID No. 8727 5903 6712. The correct name and DoB are Tamina Kouser

and 01-01-2010. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5287

NOTIFICATION

I, Hamida Kosser W/o Mohd Shakil R/o Village Phalni, Tehsil

Kotranka, Sub District Budhal, District Rajouri, J&K -185233 hereby

declare that my daughter's name and DoB are wrongly recorded as Mahak

Bhat and 04-03-2009 in her Aadhaar Card UID No. 2607 2241 6569. The

correct name and DoB are Mehak Bhat and 05-03-2009. Now, I am

applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Mohd Arif S/o Nasib Ali R/o Village Larkoti, Tehsil Kotranka, Sub

District Budhal, District Rajouri, J&K - 185233 hereby declare that my

name is wrongly recorded as Mohd Araf in my Aadhaar Card UID No.

5776 0774 4571. The correct name is Mohd Arif. Now, I am applying for

its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5289

NOTIFICATION

I, Gagandeep Singh S/o S. Paramjeet Singh R/o Ajit Colony, H. No.

36 Camp Gole Gujral Talab Tillo, Jammu applying for change of my

wife’s name from Taniya Kumari instead of correct Tarandeep Kour in her

Aadhaar Card. Also applying for change of my child's name from Trisha

Kumari to Tanmeet Kour. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Mohd Sadiq S/o Mohd Shafi R/o Village Jamola, Tehsil Kotranka,

Sub District Budhal, District Rajouri, J&K -185132 applying for

correction of my Son's name which are wrongly written as Toseef Ul

Rehman instead of correct Toseef Ur Rehman in Aadhaar UID No. 2365

4394 5863 and another son's name wrongly written as Habib Ul Rehman

instead of correct Habib Ur Rehman in Aadhaar UID No. 9374 8390 3520.

Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5291

NOTIFICATION

I, Mohd Farooq S/o Mohd Bashir R/o Village Dhewan, Samote, Tehsil

Kotranka, Sub District Budhal, District Rajouri, J&K - 185233 hereby

declare that my daughter's name is wrongly recorded as Noveena Begum

in her Aadhaar Card UID No. 6702 2522 5066. The correct name is

Noreena Kouser. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Rukhsana Kouser W/o Abdul Rashid R/o Village Jaglanoo

(Janglanoo), Tehsil Kotranka, Sub District Budhal, District Rajouri, J&K

- 185233 hereby declare that my name is wrongly recorded as Rukhsar

Begum in my Aadhaar Card UID No. 6858 1698 6386. The correct name

is Rukhsana Kouser. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5292 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No.21

NOTIFICATION

I, Altaf Hussain F/o Sajid Iqbal R/o Village Targain, Tehsil Kotranka,

Sub District Budhal, District Rajouri, J&K - 185233 hereby declare that

my son's name is wrongly recorded as Sajad Iqbal in his Aadhaar Card

UID No. 3415 2792 5734. The correct name is Sajid Iqbal. Now, I am

aapplying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Shamim Akhter W/o Mohd Ayoub R/o Village Mohra, Tehsil

Kotranka, Sub District Budhal, District Rajouri, J&K-185233 applying for

correction of my daughter's name which are wrongly written as Iqia

Kouser instead of correct name Aika Kouser in Aadhaar UID No. 6038

4694 3569, and another daughter's name wrongly written as Saiba Kouser

instead of correct name Sabia Kouser in Aadhaar UID No. 4305 6221

6795. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5311

NOTIFICATION

This is an information for general public that in Aadhaar Card of my

daughter bearing Registration No. 3590 5746 4240 her name has been

mistakenly mentioned as Aimna Bano while as her actual and correct name

as per her School Records is Aamina Bano. Now, I want to apply for its

correction.

Shaheen Ahmed Gojar Turk F/o Aamina Bano

R/o Check Kralpora Mantrigam, Bandipora, District Bandipora,

Jammu & Kashmir, India, Pin code 193502.

It is certified that I have complied with other legal requirements in this

connection.

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I intend to correct my name in my Aadhaar records bearing Aadhaar

No. 2809 5447 2860 from Zaineb to Zanab. Now, I am applying for its

correction.

Zanab D/o Manzoor Ahmad Gojire

R/o Bonamsar, Sonwar, Srinagar.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5312 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No.21

NOTIFICATION

I, Manzoor Ahmed S/o Abdul Rashid R/o Bathoie, Tehsil Mahore,

District Reasi, do hereby declare that the actual name of the deponent’s

children is (1) Amreen Kousar D/o Manzoor Ahmed, DoB 01-02-2013

(2) Shahzad Ahmed S/o Manzoor Ahmed, DoB 13-02-2017 R/o Bathoie

in School record. That the deponent's Children name and DoB has been

wrongly written in Aadhaar Card under Aadhaar Card No. 2648 9138 7279

as (1) Amreen Banoo D/o Manzoor Ahmed, DoB 07-06-2011 (2) Aadhaar

No. 5165 5423 5521 Shahad Ahmed S/o Manzoor Ahmed, DoB

28-02-2017 instead of correct name and DoB (1) Amreen Kousar

D/o Manzoor Ahmed, DoB 01-02-2013 (2) Shahzad Ahmed S/o Manzoor

Ahmed, DoB 13-02-2017. That both the names are of the same person as

deponent’s children. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

My particulars have been wrongly mentioned in my Aadhaar Card No.

7067 6693 5107 as Dali W/o Abdul Qayoom Wani R/o Shuhama,

Ganderbal whileas my correct particulars are Tasleema Bano W/o Abdul

Qayoom Wani R/o Shuhama, Ganderbal. Now, I want its correction.

Tasleema Bano W/o Abdul Qayoom Wani

R/o Shuhama, Ganderbal.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5313

NOTIFICATION

I, Neeraj Kumari M/o Advait Chandel, Adm. No. 11007 Class IX-D

of APS, Domana W/o Jeetinder Pal Chandel R/o JK Colony BSF Camp

Paloura, Jammu applying for correction of his mother's name which is

wrongly written as Neeraj Kumari Chandel instead of correct name Neeraj

Kumari. Now, I want correction of Advait's mother as Neeraj Kumari.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Vijay Rana W/o Late Sh. Dhayan Singh Gouria R/o Village Saras,

Dhandal Kasti Garh, Tehsil Kasti Garh, District Doda, J&K 182147 do

hereby declare that the minor daughter of the deponent namely Keerti

Vijay Gouria aged 14 years, having DoB 11-03-2012, is studying in 9th

Class in Green Model Higher Secondary School Doda. That the name of

the above mentioned minor daughter of the deponent is required to be

changed from Keerti Vijay Gouria to Amaira Gouria in the concerned

School records and Education Department due to Astrological reasons,

and Aadhaar Card daughter bearing No. 4100 8569 7899. Now, I am

applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5314 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No.21

NOTIFICATION

I, Vijay Rana W/o Late Sh. Dhayan Singh Gouria R/o Village Saras,

Dhandal Kasti Garh, Tehsil Kasti Garh, District Doda, J&K 182147 do

hereby declare that the minor son of the deponent namely Yuhaan Vijay

Gouria aged 11 years, having DoB 13-02-2015 is studying in 6th Class in

Surya Model High School Kastigarh, Tehsil Kastigarh, District Doda,

J&K. That the name of the above mentioned minor son of the deponent is

required to be changed from Yuhaan Vijay Gouria to Advik Singh Gouria

in the concerned School records and Education Department due to

Astrological reasons and Aadhaar Card of my son bearing No. 3732 9944

7195. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

It is informed to general public that in my Aadhaar Card bearing No.

7178 0406 0231 my name has been incorrectly mentioned as Bilqees

Bashir while as per my JKBOSE records my correct name is Bilkeesah

Bashir. Now, I am applying for its correction.

Bilkeesah Bashir D/o Bashir Ahmad Shah.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5316 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No.21

NOTIFICATION

This is to inform the general public that my ward's name has been

wrongly mentioned in her Aadhaar Card bearing No. 2191 7643 2998 as

Sumeera Shabir instead of Sumaira Shabir as per School records.

Shabir Ahmad Mir F/o Sumaira Shabir

R/o Potushai, Lolab, District Kupwara.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

It is hereby notified for the information of the general public that my

name has been wrongly recorded as Shazia Akhter in my Aadhaar Card

bearing No. 6401 9160 2084. My correct and actual name is Shaista Fayaz

as recorded in my official school records. Now, I have applied for the

correction/rectification of my name in my Aadhaar card to Shaista Fayaz.

Shaista Fayaz D/o Fayaz Ahmad Bhat

R/o Mulla-Bangil, Tehsil Tangmarg, District Baramulla, J&K (UT).

It is certified that I have complied with other legal requirements in this

connection.

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5319

NOTIFICATION

This is to inform general public that I was formerly known as Babli

R/o Karihama, Kupwara but after my marriage with Mr. Shahid ul Islam I

have embraced islam and changed my name to Aisha Islam. Henceforth, I

shall be known and identified as Aisha Islam W/o Shahid ul Islam, R/o

Karihama, Kupwara for all purposes. I request that my new name be

recorded reflected in all my Documents, Records, Certificates, Identity

Proofs, Bank Records, and all other Official and Non Official Record’s

wherever applicable.

(Old name) Babli (New name) Aisha Islam

(Husband's Name) Shahid ul Islam

R/o Karihama, Kupwara.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

In Aadhaar record my ward’s name has been recorded as Mukeet Aijaz

instead of Mustafa Aijaz. Now, it needs correction.

Aijaz Ahmad Reshi F/o Mustafa Aijaz

R/o Mir Mohalla, Bumthan, Mirbazar, Anantnag.

It is certified that I have complied with other legal requirements in this

connection.

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5321

NOTIFICATION

This is to inform the general public that my name has been wrongly

mentioned in my Aadhaar as Sameera Bano while as my actual name is

Sameena Bano C/o Jamal Ud Din Katari R/o Kuligam, Kupwara. District

Kupwara, 193223. Now, I want to apply for the correction of the same.

Sameena Bano C/o Jamal ud Din Katari

R/o Kuligam, Kupwara.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Tariq Ahmed S/o Ali Mohd Chopan R/o Khari, Tehsil Khari,

District Ramban, Jammu & Kashmir hereby notify the general public that

my name has been inadvertently recorded as Taroq Ahmed in my Aadhaar

Card bearing No. 2923 0051 3475. My correct and actual name is Tariq

Ahmed as per my birth records and other valid documents. Henceforth, I

shall be known and identified as Tariq Ahmed for all official, legal,

Aadhaar, banking, educational, and other purposes. Any reference to the

name Taroq Ahmed shall be treated as referring to Tariq Ahmed.

Tariq Ahmed S/o Ali Mohd Chopan

R/o Khari, Tehsil Khari, District Ramban, J&K.

It is certified that I have complied with other legal requirements in this

connection.

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5322 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No.21

NOTIFICATION

It is for the information of the general public that the name of my son

has been inadvertently recorded as Sahil Shafi in his Aadhaar Card bearing

Aadhaar No. 5880 4351 2564 whereas his correct and actual name as per

birth record is Sahil Ahmed Chopan. The correct name to be used for all

official purposes shall be Sahil Ahmed Chopan.

Mohd Shafi S/o Habib Chopan

R/o Kundan, Tehsil Khari, District Ramban, J&K.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

In my Aadhaar Card bearing No. 9676 9461 8442 my name has been

mentioned as Mehjabeena Akhter and father's name as Gh Mohi Ud Din.

Whileas my correct name is Mahjabeen and father's correct name is

Ghulam Mohi Ud Din Lone. Now, I want to apply for the correction of the

same in my Aadhar Card.

Mahjabeen D/o Ghulam Mohi Ud Din Lone

R/o Chandibugh, Narikhar, Tehsil Kunzer.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5323

NOTIFICATION

I, Afroza Bashir D/o Bashir Ahmad Dar R/o Gotapora, Budgam,

Jammu and Kashmir want to submit that my actual name is Afroza Bashir.

My name in Adhaar card bearing Adhaar No. 8758 4039 7038 was

recorded as Afrozah Bashir that is not correct and needs to be

rectified/updated. Both names Afrozah Bashir and Afroza Bashir belong

to one and a same person i.e. deponent. Now, I want rectification of the

same.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Muskan Nazir D/o Nazir Ahmad Mir R/o Kreeri, Baramulla hereby

declare that my name and DoB have been incorrectly recorded in my

Aadhaar card. The corrections required are as follows Incorrect Name:

Simran Nazir Correct Name: Muskan Nazir Incorrect DoB: 14-04-2005

Correct DoB 20-10-2005. This public notice is being issued for the

purpose of correction of my Aadhaar details and for submission before the

UDID Authority.

Muskan Nazir D/o Nazir Ahmad Mir

R/o Kreeri, Baramulla.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5325

NOTIFICATION

In my Aadhaar Card bearing No. 4458 2854 2391 and Pan Card

bearing No. BYFPM7076N my name has been mentioned as Gh Mohd

Whileas my correct name is Ghulam Mohd Wani as per service record.

Now, I want to apply for correction of the same in my Aadhaar Card and

Pan Card.

Ghulam Mohd Wani S/o Ghulam Rasool Wani

R/o Jamaslan, Tehsil Mahore, District Reasi, J&K.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Shazia Kouser W/o Mohammad Taruf R/o Ward No 3, Qazian Dara

Dullian, Tehsil Haveli, District Poonch applying for the correction of my

name which is wrongly written as Hafiza Begum in Aadhaar Card bearing

Registration No. 4606 8048 7465 instead of my name Shazia Kouser.

Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. 5333

NOTIFICATION

It is informed to the general public that my name has been wrongly

mentioned in Aadhaar Card as Akib Showkat Ali Wani while my correct

name as per my documents is Aqib Majeed Sofi Now, I want to update my

name in Aadhaar Card as Aqib Majeed Sofi instead of Akib Showkat Ali

Wani.

Aqib Majeed Sofi S/o Abdul Majeed Sofi

R/o Batkote Pahalgam, Anantnag, Jammu and Kashmir, 192126.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

It is informed to the general public that my ward’s name has been

wrongly mentioned in Aadhaar Card as Mohd Izaan Khan while his correct

name as per documents is Mohd Izhaan Khan. Now, I want to update his

name in Aadhaar Card as Mohd Izhaan Khan instead of Mohd Izaan Khan.

Mohd Irfan Khan F/o Mohd Izhaan Khan

R/o Wantrag, Anantnag, Jammu and Kashmir, 192125.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5341

NOTIFICATION

It is informed to the general public that my name and DoB in my

Aadhaar Card bearing No. 4048 7395 5511 has been wrongly mentioned

as Ulf Bashirta and DoB 01-01-2002 instead of Ulfat Bashir and DoB is

06-03-2002. Now, I am applying for its correction as per J&K BOSE and

School record bearing Reg No. N15441880004.

Ulfat Bashir D/o Bashir Ahmad Lone

R/o Lorihama, Tehsil Watergam, District Baramulla, PO Rohama,

Pin Code-193301.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Saja Bano W/o Ab Aziz Bhat R/o Lethpora, Tehsil Pampore, District

Pulwama, state that the name and husband name shown on my Aadhaar

Card vide No. 8940 5295 9928 as Saja Begum W/o Abdul Aziz Bhat while

as on Passport vide No. M3124476 my name and husband name shown as

Saja Bano W/o Ab Aziz Bhat which is true and correct. Now, the same is

to be corrected.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5345

NOTIFICATION

I, Manzoor Ahmad Bhat S/o Ali Mohammad Bhat R/o Treran, Tehsil

Tangmarg, District Baramulla, hereby declare that the name of my ward

has been wrongly entered in the Aadhaar Card as Umare Manzoor. The

correct name of my ward is Umair Manzoor as per the school record.

Henceforth, the correct name Umair Manzoor shall be used for all official

purposes.

Manzoor Ahmad Bhat

R/o Treran, Tangmarg, District Baramulla.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Habibullah Kar F/o Aiman Kar R/o Nowpora Jagir, Baramulla-

193103, hereby declare that my daughter's name has been wrongly

recorded as Kar Aiman in her Aadhaar Card bearing No. 8821-2253-6585.

Her correct name is Aiman Kar. Now, I am applying for the correction.

Habibullah Kar F/o Aiman Kar

R/o Nowpora Jagir, Baramulla-193103.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5346 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

This is to inform to the general public that the name of my son has

wrongly mentioned in Aadhaar Card No. 8533 5817 9960 as Hakzawaz

Ahmad Gujjar Hakla instead of Haknawaz Ahmad Gujjar Hakla. Now, I

am applying for the correction of the same.

Farooq Ahmad Hakla F/o Haknawaz Ahmad Gujjar Hakla

R/o Chattergul Kangan, Ganderbal.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

It is hereby notified for the information of the general public that the

name and DoB of my son have been erroneously recorded as Imad Ashiq

with DoB 09-01-2016 instead of his correct name Mohmed Imad Bhat

with DoB 08-09-2017. Hence, all concerned authorities and members of

the public are requested to take note of the above correction.

Ashiq Hussain Bhat S/o Mohd Yaseen Bhat F/o Mohmed Imad Bhat

R/o Arreh.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5347

NOTIFICATION

My name and DoB have been wrongly mentioned in my Aadhaar Card

bearing No. 4116 8358 7932 as Momin ul Islam instead Malik Moin ul

Islam and DoB 02-06-2004 instead 26-08-2009. Now, I have applied for

correction of the same.

Malik Moin ul Islam S/o Tariq Ahmad

R/o Zandpal Chandil, Wanigam.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Muzaffar Hussain Kharie F/o Mohammad Muzamil Kharie R/o

Kachhama that my son's name has been wrongly mentioned in Aadhaar

Card vide No. 2692 2980 7532 as Muzir Muzaffar Khari instead of

Mohammad Muzamil Kharie S/o Muzaffar Hussain Kharie. Now, I want

to correct my son's name from Muzir Muzaffar Khari to Mohammad

Muzamil Kharie S/o Muzaffar Hussain Kharie.

Muzaffar Hussain Kharie F/o Mohammad Muzamil Kharie

R/o Kachhama.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5349

NOTIFICATION

I, Mohd Ashraf F/o Khalid Hussain R/o Sarh, Tehsil Mahore, District

Reasi-JK state that the name of my son has been incorrectly mentioned as

Khalad Hussain in his Aadhaar Card bearing No. 2159 3432 6427. Now I

want to change my name from Khalad Hussain to Khalid Hussain. In

future, I will be called as Khalid Hussain and same need to be rectified and

updated as per domicile and School records.

Mohd Ashraf F/o Khalid Hussain

R/o Sarh, Tehsil Mahore, District Reasi.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, irshad Ahmad Mir F/o Manan Irshad Mir R/o Dardharie, Khargund

that my son's name has been wrongly mentioned in Aadhaar Card vide No.

2479 0618 4629 as Mir Manan instead of Manan Irshad Mir S/o Irshad

Ahmad Mir R/o Dardharie, Khargund as per school record. Now, it needs

correction.

Irshad Ahmad Mir F/o Manan Irshad Mir

R/o Dardharie, Khargund, Tehsil Kralpora, District Kupwara.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5355

NOTIFICATION

This is to inform to general public, that my name and DoB has been

wrongly mentioned in my Aadhaar Card bearing No. 2848 6116 1168.

Now, I want to change my name and DoB from Jabeena fayaz (old name)

Jabina Bano (new name) DoB from 16-11-1995 (old DoB) to 03-09-1996

(new DoB) as per Domicle officially Document.

Jabina Bano

R/o Gagal, Lolab.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

This is inform to general public, that my ward's name has been

wrongly mentioned in his Aadhaar Card bearing No. 5758 4975 2913 as

Suhil Ahmad Bhat instead of Suhail Bashir as per School records. Now, I

want its correction.

Bashir Ahmad Bhat F/o Suhail Bashir

R/o Kuligam Lolab, Tehsil Lalpora, District Kupwara.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5356 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

This is for the information to the general public that in my Aadhaar

Card bearing No. 5819 2230 2967 my name and DoB have been

inadvertently recorded as Jawahara W/o Mehraj ud din Bandey DoB

01-01-1972 while as my correct particulars are Jawahira Bano W/o Mehraj

ud din Banday DoB 11-06-1968. Both Jawahara and Jawahira Bano refer

to one and the same person. Now, I want its correction.

Jawahira Bano W/o Mehraj ud din Banday R/o Sir Syed Colony,

Ahmad Nagar, Srinagar, 9103739438

It is certified that I have complied with other legal requirements in this

connection.

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

It is informed to general public that my ward name was wrongly

mentioned in the Aadhaar Card bearing No. 8456 5773 0074 as Tabia Jan

D/o Muzafar Ahmad Reshi instead of Toiba Jan D/o Muzaffar Ahmad

Reshi. Now, I am applying for its necessary correction.

Muzaffar Ahmad Reshi F/o Toiba Jan

R/o Shahabad Bala, Tehsil Awantipora, District Pulwama.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5362 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Masrat Bano D/o Mohammad Sadiq Mir R/o Aafan Warnow Lolab.

I hereby declare that my name has been wrongly mentioned as Masrata

Bano in Aadhaar records. The correct name is Masrat Bano. Now, I am

applying for correction in the Aadhaar card records accordingly.

Masrat Bano D/o Mohammad Sadiq Mir

R/o Aafan Warnow Lolab, District Kupwara.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Altaf Ahmad Mir F/o Mohammad Abass Mir R/o Narizab Kalaroos.

I hereby declare that my son's name has been wrongly mentioned as Abass

Ahmad Mir in Aadhaar records. The correct name is Mohammad Abass

Mir. Now, I am applying for correction in the Aadhaar card records.

Altaf Ahmad Mir F/o Mohammad Abass Mir

R/o Narizab Kalaroos, District Kupwara.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5364 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Fayaz Ahmad Tantray F/o Arbeena Jan R/o Mawer-i-Payeen, Tehsil

Qalamabad, District Kupwara J&K, state that my wards name is

mistakenly entered in Aadhaar records vide No. 7638-2904-7452 as

Arbeen Jan instead of Arbeena Jan. My wards correct and actual name is

Arbeena Jan and the same may be entered in Aadhaar records as per,

Domicile Certificate, Birth Certificate, School Record etc.

Fayaz Ahmad Tantray F/o Arbeena Jan

R/o Mawer-i-Payeen, Tehsil Qalamabad, District Kupwara-J&K.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Manzoor Ahmad Khan F/o Sajid Ahmad Khan R/o Kelshan

Monabal, Tehsil Qalamabad, District Kupwara-J&K, state that my wards

name is mistakenly entered in Aadhaar records vide No. 4253-2122-8858

as Sajad Ah Khan instead of Sajid Ahmad Khan. My wards correct and

actual name is Sajid Ahmad Khan and the same may be entered in Aadhaar

records as Per, Domicile Certificate, Birth Certificate, School Record etc.

Manzoor Ahmad Khan F/o Sajid Ahmad Khan

R/o Kelshan Monabal, Tehsil Qalamabad, District Kupwara-J&K.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5365

NOTIFICATION

In the Aadhaar Card of my child bearing No. 4261 9178 7930 his name

has been mentioned as Gulshana Bano whileas her correct name is

Gulshan Bano. Now, I want to apply for the correction of the same in her

Aadhaar card.

Mohammad Rafeeq Gorsi F/o Gulshan Bano

R/o Khodi Sogam, Kupwara, Contact No. 9541225782.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Mohammad Ashraf Bhat F/o Faizan Ashraf Bhat R/o Shirhama,

Tehsil Qalamabad, District Kupwara J&K, state that my wards name is

mistakenly entered in Aadhaar records vide No. 3295-5922-9371 as Faiza

Ashraf Bhat instead of Faizan Ashraf Bhat. My wards correct and actual

name is Faizan Ashraf Bhat and the same may be entered in Aadhaar

Records as Per, Domicile Certificate, Birth Certificate, School Record etc.

Mohammad Ashraf Bhat F/o Faizan Ashraf Bhat

R/o Shirhama, Tehsil Qalamabad, District Kupwara-J&K.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5369

NOTIFICATION

I, Darshana Devi W/o Padam Singh R/o Sersundwan, Tehsil Bhomag,

District Reasi applying for correction of my son’s name which are wrongly

written as Pranam Thakur instead of correct name Pranav Thakur in

Aadhaar Card bearing No. 736922641785. Now, I want its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Abdul Rashid Famda F/o Sulaiman Rashid Famda R/o Kachhama

that my son's name has been wrongly mentioned in Aadhaar Card vide No.

4047 8448 0601 as Rashid Rasheed Famda instead of Sulaiman Rashid

Famda S/o Abdul Rashid Famda. Now, I want to correct my son's name

from Rashid Rasheed Famda to Sulaiman Rashid Famda S/o Abdel Rashid

Famda R/o Kachhama which is is correct.

Abdul Rashid Famda F/o Sulaiman Rashid Famda

R/o Kachhama.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5373

NOTIFICATION

It is hereby notified for the information of general public that my name

has been wrongly recorded in my Aadhaar Card as Akshit Singh C/o

Harbans Singh & Babli, VTC Khara Madhana P/o Khara Madhana,

District Samba. My correct particulars as per Birth Certificate issued by

Jammu Municipal Corporation Jammu on 23-03-2026 are Akshat Singh

Jamwal, father's name Harbans Singh, Mother's Name Sunaina Kumari.

Addess of parents (At the time of Child Birth) Village Khara Madana

Babli, District Samba. Therefore, this notice is published for correction of

records.

Akshat Singh Jamwal S/o Harbans Singh & Sunaina Kumari

R/o Village Khara Madana, Babli, District Samba.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Rashida Bi W/o Mohd Safeer R/o Village Bhainch, Tehsil Haveli,

District Poonch applying for the correction of my son's name which is

wrongly written as Humaad Safeer instead of Hummad Safeer in Aadhaar

Card bearing No. 9732 7163 7114. Now, it needs correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5376 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Rashid Lone S/o Kamal Lone R/o Ajas, Tehsil Ajas, District

Bandipora, J&K, hereby declare that my name and date of birth have been

wrongly recorded as Ab Rashid Lone and DoB as 03-02-1948 in my

Aadhaar Card bearing No. 5756 6211 3738. My correct name is Rashid

Lone and my correct DoB is 01-04-1949. Now, I have applied for

correction of my name and date of birth in the Aadhaar records.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Abdul Khaliq Wagay S/o Mohda Wagay R/o Kosumbagh Hakabara,

Tehsil Hajin, District Bandipora, J&K (UT), hereby notify that my father's

name has been wrongly mentioned as Ghulam Mohi Din instead of Mohda

Wagay in my PAN Card bearing No. AEIPW4295H. The correct father's

name is Mohda Wagay. This notification is being published for correction

of the said error in my PAN Card and other official records.

Abdul Khaliq Wagay S/o Mohda Wagay

R/o Kosumbagh Hakabara, Tehsil Hajin, District Bandipora, J&K (UT).

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5378 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

This is an information for general public that in my Aadhaar Card

bearing No. 4224 2228 3278, my name and parentage have been

mistakenly mentioned as Huss Un Din Kataria S/o Nawab U Din Kataria,

while as my Actual and correct name and parentage as per my Domicile

Certificate is Hussain Din Kataria S/o Nawab Din Kataria. Now, I want to

apply for its correction.

Hussain Din Kataria S/o Nawab Din Kataria

R/o Chountiwari, Tehsil Aloosa, District Bandipora, Jammu &

Kashmir, India, Pin Code-193502.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Mohd Shafi Shah F/o Aiza Shafn R/o Village, Takiya Laram Ganji

Pora, District Anantnag, Tehsil Anantnag, Post Office Wanpoh, Pin Code-

192101, Jammu and Kashmir, that the name in my daughter’s Aadhar card

bearing No. 7294 4752 7824 has been inadvertently mentioned as Insha

Jan instead of Aiza Shafi which needs to be corrected from the concerned

authorities.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5379

NOTIFICATION

In Aadhaar recoard bearing No. 5169 9474 4519 my name and DoB

recorded as Makeey Jan DoB 05-03-2005 instead of Mehkey Hassan DoB

21-08-2006. Now, it needs correction.

Mekhey Hassan D/o Ghulam Hassan Shah

R/o Behibagh, Kulgam.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

It is hereby notified for the information of the general public that in

the Aadhaar Card of my minor daughter bearing Aadhaar No. 8905 6341

1461, her name and date of birth have been incorrectly recorded as Zanib

Jan and DoB 17-13-2018 whereas, the correct details are Zainab Yousuf

DoB 17-12-2018. Therefore, the correction of the above-mentioned errors

is required.

Mohd Yousuf Reshi F/o Zainab Yousuf

R/o Qasbayar, Pulwama.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5380 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

In Aadhaar bearing No. 5474 3284 4403 my name wrongly mentioned

as Refit (old name) while as Rifat Bashir (new name) D/o Bashir Ahmad

Gorsi R/o Chak Nagam, Tehsil DH Pora, District Kulgam DoB 01-01-

2013. Now, I want to correct the same.

Rifat Bashir D/o Bashir Ahmad Gorsi

R/o Chak Nagam, Tehsil DH Pora, District Kulgam.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

This is for the information of the general public that due to an

inadvertent error during Aadhaar enrolment, the name of my minor son

has been wrongly recorded in his Aadhaar Card bearing No. 2874 6317

4604 as Zohan Javid instead of his correct and legal name Ruhaan Javid,

as reflected in his Birth Certificate and Domicile Certificate. Now, I intend

to apply for correction of his name in the Aadhaar records.

Ruhaan Javid S/o Javid Rasool Malla

R/o Watergam, Rafiabad, Tehsil Watergam, District Baramulla,

Jammu & Kashmir, Post Office Dangiwacha, Pin Code-193303.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5381

NOTIFICATION

This is to inform to the general public that my name has been wrongly

recorded in my Aadhaar Card bearing No. 6438 8794 3398 as Javid

Ahmad instead of the right and correct name is Javeed Ahmad Wani S/o

Ali Mohd wani R/o Hadipora as per School Record. Now, I intend to apply

for the correction of my name in the concerned record.

Javeed Ahmad Wani S/o Ali Mohd Wani

R/o Hadipora Tehsil Watergam, District Baramulla, Post Office

Rohama, Pin Code-193301.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Rafiq Ahmad Teli F/o Bushra Rafiq R/o Manzhar Hayihama. I

hereby declare that my daughter's name has been wrongly mentioned as

Bushrat Rafiq in Aadhaar records. The correct name is Bushra Rafiq. Now,

I am applying for correction in the Aadhaar Card records accordingly.

Rafiq Ahmad Teli F/o Bushra Rafiq

R/o Manzhar Hayihama, District Kupwara.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5387

NOTIFICATION

I, Maroof Begum W/o Mohammed Riyaz R/o Nagrota Tehsil &

District Rajouri applying for correction of my son's name, father name and

date of birth which are wrongly written as Mohd Aayan S/o Mohd Rayaz

& DoB 16-01-2016 instead of correct Ayan Ali S/o Mohd Riyaz & DoB

16-02-2016 in his Aadhaar Card bearing 6382-9732-8894. Now, I am

applying for the correction of the same.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Naida Kousser W/o Anseer Khan R/o Jamola, Tehsil Koteranka,

District Rajouri applying for correction of my name and date of birth

which is wrongly written as Sakina Begum & DoB 02-11-1964 instead of

correct Naida Kousser & DoB 02-01-2000 in my Aadhaar Card bearing

No. 4557-4029-6162. Now, it needs its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5391

NOTIFICATION

I, Zubair Ahmad S/o Arif Hussain Pathan R/o Daragutliyan, Tehsil

Uri, District Baramulla, do hereby inform the general public that my name

and parentage spelling is wrongly recorded in my Aadhaar Card record

bearing No. 2014 3302 3845 as Zubir Khan S/o Arif Hussain while as my

my actual/correct name and parentage spelling as per my birth certificate

record is Zubair Ahmad S/o Arif Hussain Pathan. Now, I am applying for

its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I want to correct my Aadhaar Card name bearing No. 2038 8745 9632

from Mansoor Akhtar to Mansoor Akhtar Najar as per Documents. Now,

I am applying for the correction.

Mansoor Akhtar Najar S/o Mohammad Shafi Najar

R/o Shah Mohalla, Ahmad Nagar.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5392 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Arshad Ali S/o Manir Ahmed R/o Mana, PO Chilli, Tehsil Bhalessa

(Gandah), District Dodl, Jammu & Kashmir-182203, do bereby declare

that my name is wrongly mentioned as Irshad Ali in my Aadhaar Card.

My correct name is Arshad Ali

Arshad Ali S/o Manir Ahmed

R/o Mamo, PO Chali, Tehsil Bhalessa (Gandoh), District Doda-182203.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Abdul Hamid S/o Ghulam Qadir R/o Mulass, Tehsil Mahore,

District Reasi state that the actual name and DoB of my son is Waseem

Ahmed Rustum S/o Abdul Hamid DoB 29-03-2013 in date of birth record.

My son’s name wrongly written in Adahaar Card bearing No. 6194 4362

2775 as Waseem Ahmed Rustam S/o Abdul Hamid DoB 29-10-2013

instead of correct name Waseem Ahmed Rustum S/o Abdul Hamid and

DoB 29-03-2013 R/o Mulass. Now, I am applying for its correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5394 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Mohammed Javaid F/o Mohammed Arish R/o Lam, Tehsil Qila

Darhal, District Rajouri I am applying for correction of my son’s name

which is wrongly written as Mohd Arish instead of correct name

Mohammed Arish in my Aadhaar Card bearing No. 5617 7899 8058. Now,

I am applying for the correction of the same.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Mushtaq Ahmed S/o Abdul Rashid R/o Jamaslan, Tehsil Mahore,

District Reasi state that the actual name of my child's is (1) Azhan Mushtaq

DoB 20-06-2022 S/o Mushtaq Ahmed (2) Amreena Mushtaq DoB

17-06-2020 D/o Mushtaq Ahmed R/o Jamaslan in date of birth record. But

my child’s name wrongly written in Aadhaar Card bearing No. 6928 0851

5904 as (1) Azwan Mushtaq (2) Amreina Mushtaq bearing Aadhaar No.

2948 0730 2554 instead of correct name (1) Azhan Mushtaq DoB

20-06-2022 S/o Mushtaq Ahmed (2) Amreena Mushtaq DoB 17-06-2020

D/o Mushtaq Ahmed. Now, I am applying for correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5395

NOTIFICATION

I, Mohd Ashraf S/o Abdul Rashid R/o Sildhar, Tehsil Mahore, District

Reasi state that my actual name is Ruthaba Ashraf D/o Mohd Ashraf in

school record. But my name wrongly written in Aadhaar Card bearing No.

6462 4002 0696 as Rutbah Ashraf D/o Mohd Ashraf instead of correct

name Ruthaba Ashraf D/o Mohd Ashraf. Now, I am applying for

correction.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I want to correct my Aadhaar Card credentials bearing No 7471 0103

3604 from Uazir Ahmad Khan S/o Hazoor Ahmad Khan R/o Kuligam

DoB 19-07-2013 to Uzair Bin Hazoor S/o Hazoor Ahmad Khan R/o

kuligam DoB 01-04-2014. Now, I am applying for the correction.

Hazoor Ahmad Khan

R/o Kuligam, Kandhar.

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5399

NOTIFICATION

I, Sardar Singh S/o Kirpa Singh R/o Village Lower Bali, Tehsil &

District Udhampur, do hereby declare that my father's name is wrongly

written as Kripal Singh in the Land Revenue Record instead of the correct

name, i.e Kirpa Singh, as per other documents, and is also wrongly written

as Kirpa Ram in my mother's Aadhaar Record (both are not alive). Now, I

am applying for correction of the same, i.e, Kirpa Singh is the correct

name.

Sardar Singh.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

This is to inform the general public that my name wrongly mentioned

in my Aadhaar Card bearing No. 7513 7004 1827 as Nafeeza Akhter. Now,

I want to change my name from Nafeeza Akhter to Miss Nafisa Akther. In

future, I will be called as Miss Nafisa Akther

Nafisa Akther D/o Ghulam Hussain Dar

R/o Akerwail Harduwail Waterhil Khansahab, Budgam, JK-191111.

It is certified that I have complied with other legal requirements in this

connection.

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5401

NOTIFICATION

This is an information for general public that the Aadhaar Card of my

son bearing No. 4664 9864 4052, his name and parentage have been

mistakenly mentioned as Ansar Muzafar S/o Mohammad Muzafar Lone,

while as his Actual and correct name and parentage as per his Birth

certificate issued by BDO Gurez is Anzar Muzafer Lone S/o Mohd

Muzafer Lone. Now, I want to apply for its correction.

Jameela Begum W/o Mohd Muzafer Lone

parents of : Anzar Muzafer Lone

R/o Shah Pora (Achura Chowrwan) Gurez, District Bandipora-193503.

It is certified that I have complied with other legal requirements in this

connection.

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

This is an information for general public that the Aadhaar Card of my

son bearing No. 7564 1293 8687, his name and parentage has been

mistakenly mentioned as Shahzaib Muzaffar S/o Mohammad Muzafar

Lone, while as his Actual and correct name and parentage as per his Birth

certificate issued by BDO Gurez is Shahzaib Muzafer Lone S/o Mohd

Muzafer Lone. Now, I want to apply for its correction.

Jameela Begum W/o Mohd Muzafer Lone

parents of : Shahzaib Muzafer Lone

R/o Shah Pora (Achura Chowrwan) Gurez, District Bandipora-193503.

It is certified that I have complied with other legal requirements in this

connection.

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5403

NOTIFICATION

I, Mumtaza Begum, have been inadvertently recorded as Deeba

Begum in my Aadhaar Card bearing No. 2778 7478 2387. My correct

name as per my school records and other supporting documents, is

Mumtaza Begum. Now, I am applying for the correction of my name in

my Aadhaar card from Deeba Begum to Mumtaza Begum.

Mumtaza Begum W/o Shafayat Ali

R/o Watergam Rafiabad, District Baramulla Pin-193303.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I want to correct the name and DoB of my son in his Aadhaar Card

bearing No. 9616 9106 6346 from Sameer Ahmad, DoB 20-03-2016 to

Sumeer Ahmad, DoB 01-08-2015. Now, I am applying for its correction.

Ghulam Din Jendar F/o Sumeer Ahmad

R/o Maidanan.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5409

NOTIFICATION

I, Nilofar Bano am holding 1000 of shares of J&K Bank Ltd. under

Folio JKB016395 where my name has been inadvertently recorded as

Neelofar Shah which is incorrect, whereas my actual name is Nilofar

Bano. Now, I am applying for correction of name under the said Folio.

Nilofar Bano W/o Peer Baha Ud Din

R/o Shahi Hamdan Colony, Naikbagh, Natipora-190015.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Rifat Khursheed am holding 1000 of shares of J&K Bank Ltd. under

Folio JKB024932 where my name has been inadvertently recorded as

Rifat Ara which is incorrect, whereas my actual name is Rifat Khursheed.

Now, I am applying for correction of name under the said Folio.

Rifat Khursheed W/o Khursheed Ahmad Butt

R/o Namlabal, Pulwama, Pampore-192121.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5414 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

This is to inform the general public that my name wrongly mentioned

in my Aadhaar Card bearing No. 5916 9242 5520. Now, I want to change

my name from Bilqees to Bilaquees Banoo. In future, I will be called as

Bilaquees Banoo.

Bilaquees Banoo D/o Ali Mohd Wani W/o Nisar Ali Rather

R/o Budgam, Kashmir JK-191111, A/p Mahboob Colony, Khumani

Chowk, Bemina, Budgam, Kashmir, JK-190018.

It is certified that I have complied with other legal requirements in this

connection.

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Anjam Perween W/o Safeer Ahmad Raina R/o Dildar Karnah

Kupwara. I hereby declare that my name has been wrongly mentioned as

Anjum Begum in Aadhaar records. The correct name is Anjam Perween.

Now, I am applying for correction in her aadhar card records accodingly.

Anjam Perween W/o Safeer Ahmad Raina

R/o Dildar Karnah, District Kupwara,

It is certified that I have complied with other legal requirements in this

connection.

Disclaimer

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Advertisements/Public Notices in this Part of the Official Gazette of UT

of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5417

NOTIFICATION

I, Vaida Kosar W/o Zafer Iqbal R/o Kakora, Tehsil Manjakote,

District Rajouri my account bearing No. 0259040100017943 is lying in

J&K bank on my bank account record my husband’s name & DoB written

wrong as Wahida Kosser W/o Zaffer Iqbal & DoB 05-05-1967 instead of

Vaida Kosar W/o Zafer Iqbal & correct DoB 16-05-1973. Now, I am

applying for correction.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Muzafar Ahmad Wani F/o Musadiq Muzafar Wani R/o Banderpora,

Tehsil Bijbehara, District Anantnag A/p Bewora, Tehsil Bijbehara,

District Anantnag state that my name on Aadhaar Card bearing No. 7494

0907 6821 is registered as Burhan Muzafer Wani which is incorrect. My

correct name is Musadiq Muzafar Wani S/o Muzafar Ahmad Wani R/o

Banderpora as per my other legal documents. Now, I want to rectify my

name from Burhan Muzafer Wani to Musadiq Muzafar Wani on my

Aadhaar card.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5420 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

In Aadhaar Card my daughter's name has been wrongly mentioned as

Nahreen Bano but her actual name is Mehreen Khurshid. Now, I have

applied for its correction.

Khurshid Ahmad Badhana F/o Mehreen Khurshid

R/o Hachmarg, Tehsil Ramhall.

It is certified that I have complied with other legal requirements in this

connection.

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

This is an information for general public that the Aadhaar Card of my

daughter bearing No. 4956 7357 4080, her name, Parentage and DoB has

been mistakenly mentioned as Falaq Jaan D/o Shareef Din Gojar, and DoB

11-05-2020, while as her actual and correct name, Parentage and DoB as

per School Records is Anum Jaan D/o Mohammad Sharief Gojar and DoB

is 10-05-2020. Now, I want to apply for its correction.

Mohammad Sharief Gojar F/o Anum Jaan

R/o Yali Bonakoot, Bandipora, District Bandipora, Jammu &

Kashmir, India, Pin Code: 193502.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5422 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Feroz Ahmad Wani S/o Ghulam Rasool Wani R/o Sagipora, District

Baramulla, Jammu & Kashmir, state that due to an inadvertent error, my

name and DoB have been wrongly recorded in my Aadhaar Card bearing

No. 5199 5708 0545 as Fairooz Ahmad Wani instead of my correct name

Feroz Ahmad Wani and my DoB has been recorded as 25-09-1975 instead

of my correct DoB 11-09-1983. Now, it needs correction.

Feroz Ahmad Wani S/o Ghulam Rasool Wani

R/o Sagipora, District Baramulla, J&K.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Sanjeev Kumar Sawhney S/o Sh Rattan Lal Sawhney R/o H. No. 10,

near Poonch House, Panjtirthi, Jammu declare that my name is mistakenly

written as Sanjeev K Sawhney in J&K Bank record instead of my correct

name i.e. Sanjeev Kumar Sawhney. Now, I am applying for correction.

It is certified that I have complied with other legal requirements in this

connection.

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5424 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Gottam Verma S/o Bishan Dass R/o Village Gurah Mehtian, Tehsil

Hiranagar, District Kathua, hereby inform the general public that I have

changed the name of my daughter from Pragati Verma to Pragyanshi due

to numerological reasons. Now, I am applying for the correction/update of

her name in Aadhaar and other official records.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

It is hereby notified for the information of the general public that my

name has been wrongly recorded as Naseema Begum in my Aadhaar Card

bearing No. 5021 8368 9472. My correct and actual name is Haseena

Begum D/o Ghulam Hassan Ganie DoB 06-06-1988 R/o Khawaja

Mohalla, Kralgund, Tehsil Qaziabad, District Kupwara, Jammu &

Kashmir - 193302, as reflected in my official revenue records. Now, it

needs correction.

Haseena Begum D/o Ghulam Hassan Ganie

R/o Khawaja Mohalla, Kralgund, Tehsil Qaziabad, District Kupwara,

J&K -193302.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5426 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Abdul Razaq Malyar S/o Abdul Raheem Malyar R/o Salamabad

Dachhna, Tehsil, Boniyar, District Baramulla state that my son namely

Saifullah Razaq his name, Parentage & DoB has been wrongly mentioned

in his Aadhaar Card as Safulla S/o Parmeena Begum & DoB 04-12-2015

instead of Saifullah Razaq S/o Abdul Razaq Malyar DoB 01-02-2018 as

per date of birth certificate. Now, I want the same to be corrected.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

This is to inform the general public that my name has been wrongly

mentioned in my Aadhaar Card bearing No. 4717 4625 5396. Now, I want

to change my name from Hoori Bano (Old Name) to Huree Begum (New

Name).

Huree Begum C/o Javaid Ahmad Lone

R/o District Gurez, Bandipora, Jammu and kashmir-193503.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5428 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Mohammad Maqbool Mir S/o Musab Maqbool R/o Nathipora,

Tehsil Zaingair, District Baramulla state that my son’s name has been

wrongly recorded in the Aadhaar Card bearing No. 5169 5627 4780 as

Mohammad Musaib whereas the correct name is Musaib Maqbool. Now,

I am applying for the correction of the same.

Mohammad Maqbool Mir F/o Minor Musaib Maqbool

R/o Nathipora, Tehsil Zaingair, District Baramulla.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Arsha Begum W/o Mushtaq Ahmad Ganaie R/o Manchanpora

Rafiabad, Tehsil Dangiwacha, District Baramulla, hereby declare that my

name has been wrongly mentioned in my Aadhaar Card as Irsha Begum

instead of correct name Arsha Begum. My correct name is Arsha Begum

as recorded in my Domicile Certificate and other documents, and the same

may kindly be corrected in my Aadhaar Card and all concerned records.

Asha Begum W/ Mushtaq Ahmad Ganaie

R/o Manchanpora Rafiabad, Tehsil Dangiwacha, District Baramulla.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5438 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

This is to inform the general public that my name has been wrongly

mentioned on Aadhaar Card as Zareena Begum instead of Zerana Begam.

Now, I want to apply for its correction.

Zerana Begam W/o Ghulam Haider

R/o Budwan Karnah, Kupwara.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Haji Nazir Ahmed S/o Haji Ismail R/o Shajroo Seela, Tehsil

Mahore, District Reasi, UT of Jammu & Kashmir, state that the name of

my daughter has been incorrectly recorded in her Aadhaar Card as Rutab

Jan. The correct name of my daughter, as recorded in her Domicile

Certificate and other supporting documents is Rutba Jan. Henceforth, her

correct name shall be read and treated as Rutba Jan for all official, legal

and administrative purposes.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5441

NOTIFICATION

I, Isha Sharma W/o Suraj Parkash R/o Marchola, PO Thanda Pani,

District Rajouri declared that my daughter’s name has been wrongly

written in her Aadhaar Card bearing No. 6269 2722 2377 as Ananya

Bakshi instead of the correct name is Ananya Sharma. Now, it needs

correction.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Santosh Devi W/o Kaku Singh R/o Pallan Wala, Jammu, Akhnoor,

J&K, 181204 state that before my marriage my name was Santosh Devi

which is recorded in my revenue records. After my marriage my in laws

changed my name to Toshi Devi and the same was recorded in certain

documents including my Aadhaar Card bearing No. 9887 9813 7880. Due

to certain issues in revenue records and for maintaining uniformity in all

documents. Now, I am applying for correction of name from Toshi Devi

to Santosh Devi in my Aadhaar Card, PAN Card and other related

documents.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5443

NOTIFICATION

I want to correct my credentials in my Aadhaar Card bearing No. 8803

1570 1057 from Abdul Rehman Hurrah S/o Ghulam Mohammad Hurrah

to Ab Rahman Hura S/o Gh Mohd Hura as per my school records. Now, I

am applying for the correction.

Ab Rahman Hura S/o Gh Mohd Hura

R/o Rabir Garh, Srinagar, Near Masjid Sheikh Ul Alam Parimpora.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Tai Mohd Iqbal S/o Showkat Ali R/o 104, Ganz Bagh, Inside Molvi

Stop, Lal Bazar, Srinagar, J&K-190023, intend to get my service records

corrected. My father's name has been recorded as Showkat Ali Mir in my

service records, whereas his correct name is Showkat Ali, as reflected in

my Matriculation Diploma Certificate (Roll No. 512802, Serial No. MN

4969), Aadhaar Card, & Appointment Order No. 239-DES of 1994 dated

17.05.1994. It is hereby declared that Showkat Ali and Showkat Ali Mir

refer to one and the same person. Now, it needs correction.

Tai Mohd Iqbal

Assistant Director, Planning, Development and Monitoring Department,

J&K.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5446 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I intend to correct my name and date of birth in my Aadhaar Card

bearing No. 2967 0902 3019 from Chasfeeda, DoB 16-06-1972 to

Chisfeda Akhtar, DoB 03-04-1977. Now, I am applying for its correction.

Chisfeda Akhtar W/o Mohammad Latief Dar

R/o Rang Paristan, Rainawari, Srinagar.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Stanzin Thinles S/o Tsering Tashi R/o Changa, Leh UT Ladakh.

That I have embraced a monastic life and have been initiated as a monk

into the Hemis Monastery. That upon my initiation into the spiritual order,

I have been given a new monastic name, Stanzin Thinles by my spiritual

guru. That from this date onwards, I have changed my name from Jigmat

Tamphal to Stanzin Thinles and adopt the new name Stanzin Thinles for

all purposes. Now I am applying for it.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5448 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Tanmayi Raina D/o Vinod Kumar Raina and Seema Koul R/o H.No.

18/3, JDA Colony, Rajinder Nagar, Bantalab, Jammu J&K, state that in

my CBSE 10th Class Marks Sheet-cum-Certificate, my parents' names

have been incorrectly mentioned as father's name Vinod Raina and

mother's name Seema Koul Raina. The correct names of my parents are

father's name Vinod Kumar Raina and mother's name Seema Koul. Now,

I am applying for its correction.

Tanmayi Raina D/o Vinod Kumar Raina & Seema Koul

R/o H. No. 18/3, JDA Colony, Rajinder Nagar, Bantalab, Jammu, J&K.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

It is hereby notified for the information of general public that the

parentage of my son namely Syed Mohammad Sarmadh Bukhari has been

inadvertently written as Syed Showket (incorrect) instead of Syed

Showkat Bukhari (correct) in school records. Now, I have applied for

correction of same before concerned board authorities.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5453

NOTIFICATION

I, Masarat Rashid D/o Ab Rashid Raina R/o Sonamarg, Tehsil Gund,

District Ganderbal, state that my Aadhaar No. is 5194 5285 5819 due to

an inadvertent error, my name has been wrongly recorded in Aadhaar Card

as Masrat Rashid whereas my correct and actual name is Masarat Rashid,

which is reflected in my other valid documents. Now, I want its correction.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I, Vinod Kumar S/o Late Sh Din Dayal Gupta R/o H.No.71, Ward No.

16 Sallian Talab, P/O Udhampur, District Udhampur, J&K-182101 want

to correct my name which has been wrongly written as Vinod Gupta in my

Stock Holding Corp. of India LTD. Reg. Client ID 18588918 & DP ID

IN301330. My actual and correct name is Vinod Kumar as per other

relevant documents i.e. Educational certificate, PAN Card. Now, I am

applying for correction.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

No. 21] The J&K Official Gazette, the 20h Aug., 2026/29th Srav., 1948. 5455

NOTIFICATION

I, Laksh Raina S/o Shri Rajinder Raina, presently residing at Flat No.

G-7, Pandit Colony, Sheikhpora, Budgam, Kashmir, Pin-191111, bearing

Aadhaar Card No. 4821 0023 3939 declare that my permanent/former

address has been changed. My details are Old/Previous Address as Roop

Nagar Enclave-B, Link Road, Chinore, Jammu, Pin-180013 instead of

New/Current Address as Flat No. G-7, Pandit Colony, Sheikhpora,

Budgam, Kashmir, Pin-191111 (Near DPS Budgam). I state that the facts

mentioned above are true and correct to the best of my knowledge, and

this notice is being published for the purpose of correcting my address

record in my Aadhaar Card and other official government documents.

Laksh Raina S/o Rajinder Raina.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I have changed my name from (old name) Yoona Begum to (new

name) Zona Begum. In future, I will be known as (new name) Zona

Begum.

Zona Begum W/o Ab Ahad Mir

R/o Panzgam, Tehsil Kralpora, District Kupwara.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

5456 The J&K Official Gazette, the 20th Aug., 2026/29th Srav., 1948. [No. 21

NOTIFICATION

I, Ameena Begum W/o Bashir Ahmad Khatana R/o Village

Zeħempora, Tehsil Boniyar, District Baramulla, J&K, state that my name

has been wrongly recorded in State Bank of India, Uri Branch, in my

Savings Account No. 41077896284, as Yamina Begum D/o Mohd Bashir

Kalas R/o Paranpillan, Uri. Morever my husband's surname has been

wrongly recorded as Bashir Ahmad Kayee in Aadhaar record vide No.

2135 4587 4544 while as my true and correct name is Ameena Begum,

W/o Bashir Ahmad Khatana R/o Village Zehempora, Tehsil Boniyar,

District Baramulla, as reflected in my genuine identity documents,

including my Domicile Certificate, and correct surname of my Husband is

Bashir Ahmad Khatana. Now, the same is to be corrected.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

remain solely responsible for the legal consequences and also for any

misrepresentation etc.

By order.

General Manager,

Government Press, Srinagar.

————

NOTIFICATION

I have changed my name from (old name) Ali Mohammad Bhat to

(new name) Ali Bhat. In future, I will be known as (new name) Ali Bhat.

Ali Bhat S/o Habib Bhat

R/o Mazimpora, Khundroo, Achabal, Anantnag, J&K-192201.

It is certified that I have complied with other legal requirements in this

connection.

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of J&K. Persons notifying the Advertisements/Public Notices shall

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By order.

General Manager,

Government Press, Srinagar.

The J&K Official Gazette, the 16th June, 2026/26th Jyai., 1948.

[No. 12-f

experience of seven years or more as an Advocate and as a

Judicial Officer ;

(h) Advocate means and would include practicing Advocates,

Pleaders/Government Pleaders and Public Prosecutors.

(2) existing clause (g) shall be re-lettered as clause (i).—

2. In rule 5 :—

(1) In sub-rule 5(1)(a) and 5(2)(d)(i) the word "65 percent" shall

be substituted by "50 percent";

(2) sub-rule 5(1)(b) shall be substituted as under :—

"25% by promotion strictly on the basis of merit through

Limited Departmental Competitive Examination from the

cadre of Civil Judge (Senior Division) having minimum 3

years' service as a Civil Judge (Senior Division) with

minimum seven years' total service rendered as Civil Judge

(Junior Division) and Civil Judge (Senior Division)";

(3) sub-rule 5(1)(c) shall be substituted as under :—

"25% of the posts shall be filled by direct recruitment from

amongst the eligible advocates and in-service candidates

on the basis of written and viva voce test conducted by the

High Court.";

(4) proviso to sub-rule (1) shall be deleted;

(5) sub-rule 5(2)(b) shall be substituted as under :—

"must be a practising advocate in the Courts of Civil and

Criminal Jurisdiction having been in actual continuous

practice for a period of not less than seven years or must be

an in-service candidate having a combined continuous

experience of seven years or more as an Advocate and

Judicial Officer as on the last date of receipt of

applications";

(6) rule 5(2)(d)(i) and 5(2)(d)(ii) shall be re-lettered as 5(3) and

5(4) respectively;

(7) proviso to sub-rule (2) shall be deleted; and

(8) sub-rule 5(4) so re-lettered shall be substituted as under:

"For eligibility for promotion against the remaining 25 per

cent posts required to be filled up by promotion strictly on

the

basis

merit

through

Limited

Departmental

Competitive Examination, the minimum qualifying service

shall be 3 years' service as a Civil Judge (Senior Division),

No. 12-f]

The J&K Official Gazette, the 16th June, 2026/26th Jyai., 1948.

with minimum seven years' total service rendered as Civil

Judge (Junior Division) and Civil Judge (Senior Division)".

3. Rule 7 shall be substituted as under :—

(i) The High Court shall hold a Limited Departmental

Competitive Examination for promotion of eligible

candidates in terms of Rule 5(1)(b) in the following

manner:-

Written examination :

180 marks

The written examination shall consist of two written papers. The

first paper regarding questions relating to Laws and Procedure

carrying 100 marks will have a duration of three hours. The

second paper carrying 80 marks, will require the candidate to

frame and write in a duration of 90 minutes, two judgments (each

carrying 40 marks) one in a Civil matter and the other in

Criminal one.

Performance assessment :—

80 marks

a) Last 5 years' ACRS

35 marks

b) Judgments

25 marks

c) Disposal

20 marks

(only contested cases)

Viva voce : 20 marks

Provided that a candidate shall be eligible to appear in viva voce

only in case he secures 50% marks in each paper in the Written

Examination and 50% marks in Performance Assessment and

55% marks in aggregate :

Provided further that only the candidates who secure 55% or

more marks in aggregate shall be declared successful. The

appointments to the post shall be made on vacancies available for

the category (b) of Rule 5(1).

4. Schedule 'B' shall be substituted as under :—

SCHEDULE (B)

See rule 12

(i)

That, the seniority of officers within the Higher Judicial

Service shall be determined through an annual 4-point

roster, filled by all officers appointed in the particular year

in the repeating sequence of 2 RPS, 1 LDCE, and 1 DR.

The J&K Official Gazette, the 14th Aug., 2026/23rd Srav., 1948. [No. 21-a

गृह मंत्रालय

(भारत के महारिजːŌार का कायाŊलय)

अिधसूचना

नई िदʟी, 3 अगˑ, 2026

का.आ. 4301(अ).—कŐ द्रीय सरकार, जनगणना िनयम, 1990 के िनयम 6 (क)

और 6 (घ) के साथ पिठत जनगणना अिधिनयम, 1948 (1948 का 37) की धारा 3 Ȫारा

प्रदȅ शİƅयों का प्रयोग करते Šए, यह घोषणा करती है िकः

(i) जनसंƥा की जनगणना संघ राǛƗेत्र लȞाख और संघ राǛƗेत्र जʃू-

कʳीर के िहमाǅािदत असमकािलक Ɨेत्रों और िहमाचल प्रदेश तथा

उȅराखंड राǛों के िहमाǅािदत असमकािलक Ɨेत्रों मŐ 1 िसतंबर, 2026

से 30 िसतंबर, 2026 तक िकया जाएगा, साथ ही इसका पुनरीƗण दौर 1

अƃूबर, 2026 से 5 अƃूबर, 2026 तक िकया जाएगा ;

(ii) उपयुŊƅ जनगणना के संचालन के िलए, घर-घर जाकर जनसंƥा गणना

प्रारंभ होने से ठीक पहले, 17 अगˑ 2026 से 31 अगˑ 2026 तक ˢ-

गणना का िवकʙ उपलɩ रहेगा ;

(iii) संघ राǛƗेत्र लȞाख और संघ राǛƗेत्र जʃू-कʳीर के िहमाǅािदत

असमकािलक Ɨेत्रों और िहमाचल प्रदेश और उȅराखंड राǛों के

िहमाǅािदत असमकािलक Ɨेत्रों के िलए जनगणना के िलए संदभŊ तारीख

अƃूबर, 2026 के पहले िदन को 00.00 बजे होगी ; और

(iv) संघ राǛƗेत्र जʃू-कʳीर के िहमाǅािदत असमकािलक Ɨेत्रों के साथ-

साथ िहमाचल प्रदेश और उȅराखंड राǛों के िहमाǅािदत असमकािलक

Ɨेत्रों का ɯौरा https://censusindia.gov.in/census.website/data/CGAZ

वेबसाइट पर जाकर प्राɑ िकया जा सकता है।

[फा. सं. 9/8/2025-सीडी (सीइएन)]

मृȑुंजय कुमार नारायण,

भारत के महारिजːŌार एवं जनगणना आयुƅ

————

No. 21-a] The J&K Official Gazette, the 14th Aug., 2026/23rd Srav., 1948.

MINISTRY OF HOME AFFAIRS

(Office of Registrar General, India)

Notification

New Delhi, the 3rd August, 2026

S.O. 4301(E).—In exercise of the powers conferred by section 3 of

the Census Act, 1948 (37 of 1948) read with rule 6A and 6D of the

Census Rules, 1990, the Central Government hereby declares that—

(i)

The conduct of Census of the population shall be undertaken

in the Union territory of Ladakh and the snow bound

non-synchronous areas of the Union territory of Jammu and

Kashmir and the snow-bound non-synchronous areas of

the States of Himachal Pradesh and Uttarakhand, from

1^st September, 2026 to 30^th September, 2026 with a revisional

round from 1^st October, 2026 to 5^th October, 2026 ;

(ii)

For the conduct of the above Census, there shall be an

option for self-enumeration from 17^th August, 2026 to 31^st

August, 2026 just before the start of house to house

population enumeration ;

(iii) The reference date for the Census in the Union territory of

Ladakh and snow bound non-synchronous areas of the Union

territory of Jammu and Kashmir and the snow-bound

non-synchronous areas of the States of Himachal Pradesh

and Uttarakhand shall be 00.00 hours of the first day of

October, 2026 ; and

(iv) The details of snowbound non-synchronous areas of the

Union territory of Jammu and Kashmir as well as the

snow-bound non-synchronous areas of the States of Himachal

Pradesh and Uttarakhand may be accessed by visiting the

website- https://censusindia.gov.in/census.website/data/CGAZ.

[F. No. 9/8/2025-CD (Cen)]

MRITUNJAY KUMAR NARAYAN,

Registrar General of India and Census Commissioner.

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37 1RWZLWKVWDQGLQJWKHFHVVDWLRQRIWKH0DQLSXU*RRGVDQG6HUYLFHV7D[

(LJKWK $PHQGPHQW 2UGLQDQFH DQ\WKLQJ GRQH RU DQ\ DFWLRQ WDNHQ RU

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38 7KH0DQLSXU*RRGVDQG6HUYLFHV7D[$PHQGPHQW2UGLQDQFH

LVKHUHE\UHSHDOHG

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2UGRI

Sd/-

10 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-23

THE SCHEDULE

(See sections 2, and 4)

No. of

Vote/

Appro

priation

Services and purposes

Sums not exceeding

Voted by

Parliament

Charged on the

Consolidated

Fund

Total

Rs.

State Legislature………………………….......................

Revenue

,,22,000

2,79,18,000

,,40,000

Capital

12,85,00,000

Council of Ministers…………………………………….

Revenue

12,,70,000

Capital

1,,00,000

Governor………………………………………………...

Revenue

8,47,20,000

8,47,20,000

Capital

25,00,000

25,00,000

Interest Payment and Debt Services……….....................

Revenue

1208,59,22,000

1208,59,22,000

Capital

6449,12,17,000

,12,17,000

Manipur Public Service Commission…………………...

Revenue

7,35,89,000

7,,89,000

Secretariat……………………………………………….

Revenue

,09,,000

1,83,80,000

,,47,000

Capital

10,29,00,000

2,20,00,000

12,49,00,000

Land Resources…………………………………………

Revenue

,,91,000

Finance Department……………………………………..

Revenue

,,95,000

Capital

9,72,28,000

Transport………………………………………………...

Revenue

28,88,71,000

Capital

75,00,000

Police……………………………………........................

Revenue

,,97,000

Capital

191,55,81,000

Public Works Department………………........................

Revenue

,,50,000

3,30,00,000

159,,50,000

Capital

,81,,000

5,00,00,000

,81,,000

Information and Publicity……………………………….

Revenue

15,21,79,000

Capital

1,05,00,000

Education………………………………………………..

Revenue

2870,92,75,000

Capital

79,84,10,000

Medical, Health and Family Welfare Services………….

Revenue

,42,52,000

Capital

54,,,000

Municipal Administration, Housing and Urban

Development.....................................................................

Revenue

,25,27,000

Capital

,,,000

Labour and Employment………………………………..

Revenue

,,,000

Capital

5,25,00,000

Department of Tribal Affairs and Hills…........................

Revenue

985,,45,000

Capital

24,,14,000

Consumer Affairs, Food and Public Distribution……….

Revenue

82,19,,000

Capital

2,,00,000

Cooperation…………………………………………….

Revenue

29,55,,000

Capital

,00,000

Agriculture………………………………………………

Revenue

199,,14,000

Capital

8,78,10,000

Animal Husbandry and Veterinary including Dairy

Farming.............................................................................

Revenue

,27,74,000

Capital

,,00,000

Environment and Forest………………………………...

Revenue

,95,,000

Capital

71,75,00,000

Community and Rural Development……………………

Revenue

,,87,000

Capital

189,,78,000

Textiles, Commerce and Industries……………………..

Revenue

79,07,,000

Capital

,00,000

Public Health Engineering………………………………

Revenue

120,10,20,000

Capital

489,10,28,000

Power……………………………………………………

Revenue

,,,000

Capital

50,00,00,000

No. 11-24] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 3

No. of

Vote/

Appro

priation

Services and purposes

Sums not exceeding

Voted by

Parliament

Charged on the

Consolidated

Fund

Total

Rs.

Vigilance and AntiCorruption Department….......................

Revenue

7,02,,000

Capital

4,00,000

Youth Affairs and Sports Department…………………..

Revenue

90,77,98,000

Capital

9,55,00,000

Administration of Justice………………………………..

Revenue

,72,44,000

64,91,00,000

,,44,000

Capital

54,01,25,000

Election………………………………………………….

Revenue

20,55,51,000

Capital

20,01,000

State Excise……………………………………………..

Revenue

12,,,000

Capital

1,,00,000

Sales Tax, Other Taxes/Duties on Commodities and

Services………………………………………………….

Revenue

5,,14,000

Capital

,00,000

Planning…………………………………………………

Revenue

80,78,,000

Capital

,,11,000

Fire Protection and Control……………………………..

Revenue

25,17,,000

Capital

,00,00,000

Jails……………………………………………………...

Revenue

,,,000

Capital

92,00,000

Home Guards……………………………………………

Revenue

57,,75,000

Capital

1,,00,000

Rehabilitation…………………………………………...

Revenue

,79,,000

Capital

,08,01,000

Printing………………………………………………….

Revenue

5,70,,000

Capital

40,00,000

Minor Irrigation…………………………………………

Revenue

25,,54,000

Capital

,55,85,000

Fisheries…………………………………………………

Revenue

,,42,000

Capital

95,00,000

Panchayat………………………………………………..

Revenue

,77,77,000

Capital

,01,000

Sericulture……………………………………………….

Revenue

29,,54,000

Capital

,00,000

Water Resources Department…………………………...

Revenue

,04,20,000

Capital

271,74,29,000

Art and Culture………………………………………….

Revenue

51,29,25,000

Capital

1,42,00,000

State Academy of Training……………………………...

Revenue

9,,00,000

Capital

1,20,00,000

Horticulture and Soil conservation……………………...

Revenue

104,44,91,000

Capital

2,89,00,000

Social Welfare…………………………………………..

Revenue

842,,25,000

Capital

21,00,,000

Tourism………………………………………………….

Revenue

28,,51,000

Capital

2,07,04,000

Science and Technology………………………………...

Revenue

5,84,55,000

Capital

1,74,00,000

Minorities and Other Backward Classes and Scheduled

Castes Department………………………………………

Revenue

92,91,14,000

Capital

81,,25,000

Relief and Disaster Management………………………..

Revenue

,77,40,000

Capital

2,15,00,000

4 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-24

Insertion of new

VHFWLRQ$

Application of

World

Anti-Doping

&RGH

(i) after clause (a), the following clause shall be inserted, namely:—

‘(aa) “Anti-Doping Organisation” means the World Anti-Doping

Agency or a signatory to the Code which is responsible for adopting

rules for initiating, implementing or enforcing any part of the doping

control process and includes the International Olympic Committee, the

International Paralympic Committee, other major event organisations

that conduct testing at their events, International Federations, and the

National Anti-Doping Organisations;’;

(ii) in clause (b), after the word and figure “section 4”, the words “or as

detailed under the Code as set out in the Schedule” shall be inserted;

(iii) in clause (e), for the words “or such other person”, the words

“, parent or any other person” shall be substituted;

(iv) in clause (n),––

(a) for the words “up to the disposal”, the words “till the final

disposal” shall be substituted;

(b) after the words “Anti-Doping Rule Violation”, the words “or

violation of the prohibition of participation during ineligibility or

provisional suspension” shall be inserted;

(v) for clause (q), the following clause shall be substituted, namely:—

‘(q) “in-competition” means the

period commencing at

SP RQ WKH GD\ EHIRUH D FRPSHWLWLRQ LQ ZKLFK WKH DWKOHWH LV

scheduled to participate till the end of such competition and the sample

collection process related to such competition;’;

(vi) after clause (s), the following clause shall be inserted, namely:—

‘(sa) “marker” means a compound, group of compounds or

biological variable that indicates the use of a prohibited substance or a

prohibited method;’;

(vii) after clause (t), the following clause shall be inserted, namely:—

‘(ta) “metabolite” means any substance produced by

biotransformation process;’;

(viii) clause (w) shall be omitted;

(ix) for clause (x), the following clause shall be substituted, namely:—

‘(x) “out-of-competition” means any period which is not

in-competition;’;

(x) in clause (zc), after the words “any substance”, the words “or class

of substances” shall be inserted;

(xi) in clause (zg), the words “and testing of samples” shall be omitted;

(xii) after sub-section (1) as so numbered, the following sub-section

shall be inserted, namely:—

“(2) The words and expressions used in this Act and not defined

but defined in the Code shall have theVDPH meanings respectively

assigned to them in that Code.”.

3 $IWHUVHFWLRQRIWKHprincipal Act, the following section shall be inserted,

namely:—

“2A. (1) Notwithstanding anything to the contrary contained in any

other law, such of the provisions of the World Anti-Doping Code as are set

out in the Schedule shall have the force of law iQ,QGLD

2 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-27

(2) The Central Government may, from time to time, by notification in

the Official Gazette, amend the Schedule in conformity with any

amendments, duly made and adopted, of the provisions of the said Code set

RXWWKHUHLQ

(3) Every notification issued under sub-section (2) shall be laid, as soon

as may be after it is issued, before each House of Parliament.”.

4 )RU VHFWLRQ RI WKH SULQFLSDO $FW WKH IROORZLQJ VHFWLRQ VKDOO EH

substituted, namely:—

“4. Any one or more of the following circumstances or acts or

conducts shall constitute Anti-Doping Rule Violation for the purposes of this

Act, namely:—

(a) the presence of a prohibited substance or its metabolites or

markers in an athlete’s sample, unless such presence is exempted under

section 5;

(b) use or attempted use by an athlete of any prohibited substance

or any prohibited method, unless such use is exempted under section 5;

sample collection without compelling justification after notification by

a duly authorised person;

(d) whereabouts failures by an athlete as specified in the Code;

(e) tampering or attempted tampering with any part of doping

control by an athlete or other person;

(f) possession of any prohibited substance or any prohibited

method by an athlete or athlete support personnel, unless such

possession is exempted under section 5;

(g)

trafficking or attempted trafficking in any prohibited

substance or prohibited method by an athlete or other person;

(h) administration or attempted administration by an athlete or

other person to any athlete in-competition of any prohibited substance

or prohibited method, or administration or attempted administration to

any athlete out-of-competition of any prohibited substance or any

prohibited method that is prohibited out-of-competition;

(i) assisting, encouraging, aiding, abetting, conspiring, covering

up or any other type of intentional complicity or attempted complicity

involving an Anti-Doping Rule Violation, attempted Anti-Doping Rule

Violation or violation of the prohibition against participation during

ineligibility or provisional suspension by any other person;

(j) prohibited association by an athlete or other person as the

Agency may specify by regulations;

(k) acts by an athlete or other person to discourage or retaliate

against reporting to authorities.”.

5 ,Q VHFWLRQ RI WKH SULQFLSDO $FW LQ VXEVHFWLRQ 1), for the words

“individual athlete or athlete support personnel”, the words “athlete or other

person” shall be substituted.

6 In section 7 of the principal Act, in sub-section (7), after the words

“International Federation”, the words “, National Olympic Committee, National

Paralympic Committee” shall be inserted.

7 ,QVHFWLRQRIWKHSULQFLSDO$FWVXE-section (5VKDOOEHRPLWWHG

Substitution of

new section for

VHFWLRQ

Anti-Doping Rule

9LRODWLRQ

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

No. 11-27] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 3

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

Substitution of

new section for

VHFWLRQ

Power of

collecting

samples and

WHVWLQJ

Substitution of

new section for

VHFWLRQ

Result

Management

SURFHVV

8 ,QVHFWLRQRIWKHSULQFLSDO$FWLQVXE-section (2), in clause (d), after the

words “who are”, the words “or have been” shall be inserted.

9 ,QVHFWLRQRIWKHSULQFLSDO$FW—

(a) for the word “Board”, wherever it occurs, the words “Central

Government” shall be substituted;

(b) for the words “specified by regulations”, wherever they occur, the

word “prescribed” sKDOOEHVXEVWLWXWHG

10 ,Q VHFWLRQ RI WKH SULQFLSDO $FW DIWHU VXE-section (6), the following

sub-section shall be inserted, namely:––

“(7) The Director General or any other staff member of the Agency

shall have operational independence from any National Sports Federation,

International Federation, National Olympic Committee, National Paralympic

Committee or any Government department or agency with responsibility for

sport or anti-doping.”.

11 ,QVHFWLRQRIWKHSULQFLSDO$FWLQVXE-section (3),––

(a) for clause (i), the following clause shall be substituted, namely:–––

“(i) coordinating and cooperating with the Anti-Doping

Organisations and National Sports Federations;”;

(b) in clause (k), the word “Other” shall be omitted.

12. In section 17 of the principal Act, for the words “Therapeutic

Exemption”, the words “Therapeutic Use Exemption” shall be substituted.

13 ,QVHFWLRQRIWhe principal Act, for the words and figures “the Code of

Criminal Procedure, 1973”, the words and figures “the Bharatiya Nagarik

Suraksha Sanhita, 2023” shall be substituted

14 )RU VHFWLRQ RI WKH SULQFLSDO $FW WKH IROORZLQJ VHFWLRQ VKDOO EH

substituted, namely:––

“20. Notwithstanding the power of the Agency to direct the collection

of samples of an athlete at any time and at any place, if the Agency has

reasons to believe that an athlete has committed an Anti-Doping Rule

Violation, it shall require such athlete to submit samples for testing, in

accordance with such procedure and in such manner, as may be specified by

regulations.”.

15 )RU VHFWLRQ RI WKH SULQFLSDO $FW WKH IROORZLQJ VHFWLRQ VKDOO EH

substituted, namely:––

“21. (1) After receiving an adverse report from a dope testing laboratory

indicating presence of any prohibited substance or its metabolites or markers in the

sample of an athlete or evidence of the use of a prohibited method, the Agency

shall carry out initial examination of the report in such manner as may be specified

by regulations and verify, if Therapeutic Use Exemption has been granted to such

athlete in respect of such substance or if there has been any departure from the

International Standard for Laboratories or International Standard for Testing and

Investigations that may have caused the adverse analytical finding or if it is

apparent that the adverse analytical finding was caused by an ingestion of the

relevant prohibited substance through a permitted URXWH

(2) Where, after examination and verification under sub-section (1), the

Agency is satisfied that no Therapeutic Use Exemption has been granted to

the athlete and that there has been no departure from the International

Standard for Laboratories or International Standard for Testing and

Investigations that may have caused the adverse analytical finding or that the

adverse analytical finding was not caused by an ingestion of the relevant

prohibited substance through a permitted route, it shall take such actions in

such manner, as may be specified by regulations.”.

4 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-27

16 ,QVHFWLRQRIWKHSULQFLSDO$FW—

(a) for the words “specified by regulations”, wherever they occur, the

word “prescribed” shall be substituted;

(b) in sub-section (2), for the words “regulations as may be made by the

Board”, the words “rules as may be made by the Central Government” shall

be substituted;

and Explanation shall be substituted, namely:—

‘(9) The World Anti-Doping Agency, the International Olympic

Committee, the International Paralympic Committee and the concerned

International Federation may prefer an appeal against the decision of

the Appeal Panel to the Court of Arbitration for Sport, in accordance

ZLWKWKHUXOHVRIWKH&RXUWRI$UELWUDWLRQIRU6SRUWDQGWKH&RGH

(10) Where the case involves international level athlete or

international events,—

(a) such athlete or other person who is subject to the

decision being appealed;

(b) the National Anti-Doping Agency;

(d) the World Anti-Doping Agency; and

(e)

the

International

Olympic

Committee

the

International Paralympic Committee, as the case may be, where

the decision may have an effect in relation to the Olympic Games

or the Paralympic Games including decisions affecting eligibility

for the Olympic Games or the Paralympic Games,

may appeal against the decision of the Disciplinary Panel to the Court

RI$UELWUDWLRQIRU6SRUW

(11) Notwithstanding anything contained in sub-sections (1) to

(10), in cases where the World Anti-Doping Agency has a right to

DSSHDOXQGHU$UWLFOHRIWKH&RGHDQGQRDSSHDOKDVEHHQILOHGE\

any party against the final decision of the Agency, the World

Anti-Doping Agency may appeal against such decision to the Court of

Arbitration for Sport without exhausting other remedies provided under

this $FWDQGWKHUXOHVPDGHWKHUHXQGHU

Explanation—For the purposes of sub-sections (9) to (11),

“Court of Arbitration for Sport”

means an international body

established in 1984 to settle disputes related to sport through arbitration

ZKRVHKHDGTXDUWHULVLQ/DXVDQQH6ZLW]HUODQG’

17. In section 24 of the principal Act, after the word “Board,”, the words

“ Appeal Panel,” shall be inserted.

18 ,QVHFWLRQRIWKHSULQFLSDO$FW––

(a) in sub-section (2), in the proviso, for the words “may, if required,”,

the word “shall” shall be substituted;

(b) in sub-section (4), in clause (d), after the words “standard operative

procedures”, the words “, subject to the International Standard for

Laboratories” shall be inserted.

19 ,QVHFWLRQRIWKHSULQFLSDO$FW––

(i) after clause (c), the following clauses shall be inserted, namely:—

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

No. 11-27] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 5

Amendment of

VHFWLRQ

Amendment of

VHFWLRQ

Insertion of

6FKHGXOH

“(ca) the manner of constituting the Appeal Panel under

sub-section (1) of section 12;

(cb)

the

manner

appointment

the

Chairperson,

Vice-Chairperson and other members of the Appeal Panel and the

conditions subject to which such appointments shall be made under

sub-section (3) of section 12;

(cc) the grounds on which a member of the Appeal Panel may be

removed under sub-section (4) of section 12;”;

(ii) after clause (f), the following clauses shall be inserted, namely:—

“(fa) the other decisions against which an appeal may be filed,

and the form and manner in which and the time within which such

appeal may be filed under sub-section (1RIVHFWLRQ

(fb) the procedure to be followed by the Appeal Panel under

sub-section (2RIVHFWLRQ

(fc) the manner of communicating the decision of the Appeal

Panel under sub-section (8RIVHFWLRQ”;

(iii) in clause (m), after the word and figures “section 26”, the words

“, subject to the International Standard for Laboratories” shall be inserted.

20 ,QVHFWLRQRIWKHSULQFLSDO$FW––

(i) clauses (e), (f) and (g) shall be omitted;

(ii) clauses (l), (m) and (n) sKDOOEHRPLWWHG

21 ,QVHFWLRQRIWKHSULQFLSDO$FW—

(a) in sub-section (1),––

(i) in the opening portion, for the words “for complying with the

requirements of international obligations and commitments including the

Code”, the words “in compliance with the international obligations and the

Code, including its International Standards,” shall be substituted;

(ii) in clause (j), for the words “anti-doping control”, the words

“doping control” shall be substituted;

(iii) in clause (m), the word “other” shall be omitted;

(b) in sub-section (2),–––

(i) clause (b) shall be omitted;

(ii) for clause (c), the following clause shall be substituted,

namely:—

“(c) the prohibited association by an athlete or other person

under clause (j) of section 4;”;

(iii) clause (dVKDOOEHRPLWWHG

22 $IWHU VHFWLRQ RI WKH SULQFLSDO $FW WKH IROORZLQJ 6FKHGXOHVKDOO EH

inserted, namely:––

“THE SCHEDULE

(See section 2A)

PROVISIONS OF THE WORLD ANTI-DOPING CODE, WHICH SHALL HAVE

FORCE OF LAW

ARTICLE 2 ANTI-DOPING RULE VIOLATIONS

The purpose of Article 2 is to specify the circumstances and conduct which

constitute anti-GRSLQJ UXOH YLRODWLRQV +HDULQJV LQ GRSLQJ FDVHV ZLOO SURFHHG

based on the assertion that one or more of these specific rules have been vLRODWHG

6 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-27

Athletes or other Persons shall be responsible for knowing what constitutes

an anti-doping rule violation and the substances and methods which have

EHHQLQFOXGHGRQWKH3URKLELWHG/LVW

The following constitute anti-doping rule violations:

2.1 Presence of a Prohibited Substance or its 0HWDEROLWHVRU0DUNHUVLQ

an Athlete’s Sample

2.1.1 It is the Athletes’ personal duty to ensure that no Prohibited

Substance enters their ERGLHV Athletes are responsible for any

Prohibited Substance or its Metabolites or Markers found to be

present in their 6DPSOHV Accordingly, it is not necessary that

intent, Fault, Negligence or knowing Use on the Athlete’s part be

demonstrated in order to establish an anti-doping rule

YLRODWLRQXQGHU$UWLFOH⁷

7 [Comment to Article 2.1.1: An anti-doping rule violation is

committed under this Article without regard to an Athlete’s Fault. This

rule has been referred to in various CAS decisions as “Strict

Liability”. An Athlete’s Fault is taken into consideration in

determining the Consequences of this anti-doping rule violation under

Article 10. This principle has consistently been upheld by CAS@

6XIILFLHQWSURRIRIDQDQWL-GRSLQJUXOHYLRODWLRQXQGHU$UWLFOH

is established by any of the following: presence of a Prohibited

Substance or its Metabolites or Markers in the Athlete’s A

Sample where the Athlete waives analysis of the B Sample and

the B Sample is not analyzed; or, where the Athlete’s B Sample is

analyzed and the analysis of the Athlete’s B Sample confirms the

presence of the Prohibited Substance or its Metabolites or

Markers found in the Athlete’s A Sample; or where the Athlete’s

A or B Sample is split into two parts and the analysis of the

confirmation part of the split Sample confirms the presence of the

Prohibited Substance or its Metabolites or Markers found in the

first part of the split Sample or the Athlete waives analysis of the

FRQILUPDWLRQSDUWRIWKHVSOLW6DPSOH⁸

8 [Comment to Article 2.1.2: The Anti-Doping Organization with

Results Management responsibility may, at its discretion, choose

to have the B Sample analyzed even if the Athlete does not request

the analysis of the B Sample.@

([FHSWLQJ WKRVH VXEVWDQFHV IRU ZKLFK D 'HFLVLRQ /LPLW LV

specifically identified in the Prohibited List or a Technical

Document, the presence of any reported quantity of a Prohibited

Substance or its Metabolites or Markers in an Athlete’s Sample

shall constitute an anti-GRSLQJUXOHYLRODWLRQ

$VDQH[FHSWLRQWRWKHJHQHUDOUXOHRI$UWLFOHWKH3URKLELWHG

List, International Standards, or Technical Documents may

establish special criteria for reporting or the evaluation of certain

3URKLELWHG6XEVWDQFHV

2.2

8VHRU$WWHPSWHG8VHE\DQ$WKOHWHRID3URKLELWHG6XEVWDQFHRUD

Prohibited Method ⁹

9 [Comment to Article 2.2: It has always been the case that Use or

Attempted Use of a Prohibited Substance or Prohibited Method may

be established by any reliable means. As noted in the Comment to

Article 3.2, unlike the proof required to establish an anti-doping rule

violation under Article 2.1, Use or Attempted Use may also be

established by other reliable means such as admissions by the Athlete,

No. 11-27] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 7

witness statements, documentary evidence, conclusions drawn from

longitudinal profiling, including data collected as part of the Athlete

Biological Passport, or other analytical information which does not

otherwise satisfy all the requirements to establish “Presence” of a

Prohibited Substance under Article 2.1. For example, Use may be

established based upon reliable analytical data from the analysis of an

A Sample (without confirmation from an analysis of a B Sample) or

from the analysis of a B Sample alone where the Anti-Doping

Organization provides a satisfactory explanation for the lack of

confirmation in the other Sample.@

2.2.1 It is the Athletes’ personal duty to ensure that no Prohibited

Substance enters their bodies and that no Prohibited Method is

8VHG $FFRUGLQJO\ LW LV QRW QHFHVVDU\ WKDW LQWHQW )DXOW

Negligence or knowing Use on the Athlete’s part be demonstrated

in order to establish an anti-doping rule violation for Use of a

3URKLELWHG6XEVWDQFHRUD3URKLELWHG0HWKRG

7KH VXFFHVV RU IDLOXUH RI WKH 8VH RU $WWHPSWHG 8VH RI D

Prohibited 6XEVWDQFHRU3URKLELWHG0HWKRGLVQRWPDWHULDO,WLV

sufficient that the Prohibited Substance or Prohibited Method was

Used or Attempted to be Used for an anti-doping rule violation to

EHFRPPLWWHG¹⁰

10 [Comment to Article 2.2.2: Demonstrating the “Attempted Use”

of a Prohibited Substance or a Prohibited Method requires proof of

intent on the Athlete’s part. The fact that intent may be required to

prove this particular anti-doping rule violation does not undermine

the Strict Liability principle established for violations of Article 2.1

and violations of Article 2.2 in respect of Use of a Prohibited

Substance or Prohibited Method. An Athlete’s Use of a Prohibited

Substance constitutes an anti-doping rule violation unless such

Substance is not prohibited Out-of-Competition and the Athlete’s

Use takes place Out-of-Competition. (However, the presence of a

Prohibited Substance or its Metabolites or Markers in a Sample

collected In-Competition is a violation of Article 2.1 regardless of

when that Substance might have been administered.)@

2.3

(YDGLQJ5HIXVLQJRU)DLOLQJWR6XEPLWWR6DPSOH&ROOHFWLRQE\DQ

$WKOHWH

Evading Sample collection; or refusing or failing to submit to Sample

collection without compelling justification after notification by a

GXO\DXWKRUL]HG3HUVRQ¹¹

11 [Comment to Article 2.3: For example, it would be an anti-doping

rule violation of “evading Sample collection” if it were established that

an Athlete was deliberately avoiding a Doping Control official to evade

notification or Testing. A violation of “failing to submit to Sample

collection” may be based on either intentional or negligent conduct of

the Athlete, while “evading” or “refusing” Sample collection

contemplates intentional conduct by the Athlete.@

2.4 :KHUHDERXWV)DLOXUHVE\DQ$WKOHWH

Any combination of three missed tests and/or filing failures, as defined

in the International Standard for Results Management, within a

WZHOYHPRQWKSHULRGE\DQ$WKOHWHLQD5HJLVWHUHG7HVWLQJ3RRO

2.5

7DPSHULQJRU$WWHPSWHG7DPSHULQJZLWKDQ\3DUWRI'RSLQJ&RQWURO

E\DQ$WKOHWHRU2WKHU3HUVRQ

2.6

Possession of a Prohibited Substance or a Prohibited Method by an

$WKOHWHRU$WKOHWH6XSSRUW3HUVRQ

8 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-27

Possession by an Athlete In-Competition of any Prohibited Substance

or any Prohibited Method, or Possession by an Athlete

Out-of-Competition of any Prohibited Substance or any Prohibited

Method which is prohibited Out-of-Competition unless the Athlete

establishes that the Possession is consistent with a Therapeutic Use

Exemption (“TUE”) granted in accordance with Article 4.4 or other

DFFHSWDEOHMXVWLILFDWLRQ¹²

12 [Comment to Articles 2.6.1 and 2.6.2: Acceptable justification

would not include, for example, buying or Possessing a

Prohibited Substance for purposes of giving it to a friend or

relative, except under justifiable medical circumstances where

that Person had a physician’s prescription, e.g., buying Insulin

for a diabetic child.@

2 Possession by an Athlete Support Person In-Competition of any

Prohibited Substance or any Prohibited Method, or Possession by

an Athlete Support Person Out-of-Competition of any Prohibited

Substance or any Prohibited Method which is prohibited

Out-of-Competition in connection with an Athlete, Competition

or training, unless the Athlete Support Person establishes that the

Possession is consistent with a TUE granted to an Athlete in

DFFRUGDQFHZLWK$UWLFOHRURWKHUDFFHSWDEOHMXVWLILFDWLRQ

>Comment to Articles 2.6.1 and 2.6.2: Acceptable justification

may include, for example, (a) an Athlete or a team doctor

carrying Prohibited Substances or Prohibited Methods for

dealing with acute and emergency situations (e.g., an epinephrine

auto-injector), or (b) an Athlete Possessing a Prohibited

Substance or Prohibited Method for therapeutic reasons shortly

prior to applying for and receiving a determination on a TUE.@

2.7 Trafficking or Attempted Trafficking in any Prohibited Substance

or ProhibiteG0HWKRGE\DQ$WKOHWHRU2WKHU3HUVRQ

2.8

$GPLQLVWUDWLRQ RU $WWHPSWHG $GPLQLVWUDWLRQ E\ DQ $WKOHWH RU

2WKHU 3HUVRQ WR DQ\ $WKOHWH ,Q-Competition of any Prohibited

Substance or Prohibited Method, or Administration or Attempted

$GPLQLVWUDWLRQ WR DQ\ $WKOHWe Out-of-Competition of any

Prohibited Substance or any Prohibited Method that is Prohibited

Out-of-Competition

2.9 &RPSOLFLW\RU$WWHPSWHG&RPSOLFLW\E\DQ$WKOHWHRU2WKHU3HUVRQ

Assisting, encouraging, aiding, abetting, conspiring, covering up or any

other type of intentional complicity or Attempted complicity involving

an anti-doping rule violation, Attempted anti-doping rule violation or

YLRODWLRQRI$UWLFOHE\DQRWKHU3HUVRQ¹⁴

14 [Comment to Article 2.9: Complicity or Attempted Complicity may

include either physical or psychological assistance.@

3URKLELWHG$VVRFLDWLRQE\DQ$WKOHWHRU2WKHU3HUVRQ

$VVRFLDWLRQ E\ DQ $WKOHWH RU RWKHU 3HUVRQ VXEMHFW WR WKH

authority of an Anti-Doping Organization in a professional or

sport-related capacity with any Athlete Support Person who:

,I VXEMHFW WR WKH DXWKRULW\ RI DQ $QWL-Doping

Organization, is serving a period of Ineligibility; or

If not subject to the authority of an Anti-Doping

Organization, and where Ineligibility has not been addressed

in a Results Management process pursuant to the Code, has

No. 11-27] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 9

been convicted or found in a criminal, disciplinary or

professional proceeding to have engaged in conduct

which would have constituted a violation of anti-doping

rules if Code-compliant rules had been applicable to such

3HUVRQ7KHGLVTXDOLI\LQJVWDWXVRIVXFK3HUVRQVKDOOEHLQ

force for the longer of six \HDUV IURP WKH FULPLQDO

professional or disciplinary decision or the duration of the

criminal, disciplinary or professional sanction imposed; or

Is serving as a front or intermediary for an individual

GHVFULEHGLQ$UWLFOHRU

7R HVWDEOLVK D YLRODWLRQ RI $UWLFOH DQ $QWL-Doping

Organization must establish that the Athlete or other Person

knew of the Athlete Support Person’s disqualifying status.

The burden shall be on the Athlete or other Person to establish

that any association with an Athlete Support Person described

LQ $UWLFOH RU LV QRW LQ D SURIHVVLRQDO RU

sport-related capacity and/or that such association could not

KDYHEHHQUHDVRQDEO\DYRLGHG

Anti-Doping Organizations that are aware of Athlete Support

3HUVRQQHOZKRPHHWWKHFULWHULDGHVFULEHGLQ$UWLFOH

RUVKDOOVXEPLWWKDWLQIRUPDWLRQWR:$'$¹⁵

15 [Comment to Article 2.10: Athletes and other Persons must

not work with coaches, trainers, physicians or other Athlete

Support Personnel who are Ineligible on account of an

anti-doping rule violation or who have been criminally convicted

or professionally disciplined in relation to doping. This also

prohibits association with any other Athlete who is acting as a

coach or Athlete Support Person while serving a period of

Ineligibility. Some examples of the types of association which are

prohibited include: obtaining training, strategy, technique,

nutrition or medical advice; obtaining therapy, treatment or

prescriptions; providing any bodily products for analysis; or

allowing the Athlete Support Person to serve as an agent or

representative. Prohibited association need not involve any form

of compensation.

While Article 2.10 does not require the Anti-Doping

Organization to notify the Athlete or other Person about the

Athlete Support Person’s disqualifying status, such notice, if

provided, would be important evidence to establish that the

Athlete or other Person knew about the disqualifying status of

the Athlete Support Person@

 $FWV E\ DQ $WKOHWH RU 2WKHU 3HUVRQ WR 'LVFRXUDJH RU 5HWDOLDWH

Against Reporting to Authorities

Where such conduct does not otherwise constitute a violation of

$UWLFOH

$Q\ DFW ZKLFK WKUHDWHQV RU VHHNV WR LQWLPLGDWH DQRWKHU 3HUVRQ

with the intent of discouraging the Person from the good-faith

reporting of information that relates to an alleged anti-doping rule

violation or alleged non-compliance with the Code to WADA, an

Anti-Doping Organization, law enforcement, regulatory or

professional disciplinary body, hearing body or Person conducting

an investigation for WADA or an Anti-'RSLQJ2UJDQL]DWLRQ

5HWDOLDWLRQ DJDLQVW D 3HUVRQ ZKR LQ JRRG IDLWK KDV SURYLGHG

evidence or information that relates to an alleged anti-doping rule

violation or alleged non-compliance with the Code to WADA, an

10 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-27

Short title and

FRPPHQFHPHQW

'HILQLWLRQV

AND WHEREAS the Government of India respects the principle of autonomy of

the sports governing bodies in the country in line with the fundamental principles

enshrined in the Olympic Charter and the Paralympic Charter;

AND WHEREAS the Government of India recognises the importance of

providing accessible, fair and effective measures for the resolution of grievances and

disputes relating to sports;

AND WHEREAS it is considered necessary to give effect to the aforesaid

REMHFWLYHV

BE it enacted by Parliament in the Seventy-sixth Year of the Republic of India

as follows:—

CHAPTER I

PRELIMINARY

1 17KLV$FWPD\EHFDOOHGWKH1DWLRQDO6SRUWV*RYHUQDQFH$FW

2) It shall come into force on such date as the Central Government may, by

notification in the Official Gazette, appoint, and different dates may be appointed

for different provisions of this Act, and any reference in any such provision to the

commencement of this Act shall be construed as a reference to the coming into force

RIWKDWSURYLVLRQ

2 ,QWKLV$FWXQOHVVWKHFRQWH[WRWKHUZLVHUHTXLUHV—

a) “ad hoc administrative body” means a body constituted for ad hoc

administration under section 11;

b) “affiliate unit” means the State, district or other units of,—

i) the National Olympic Committee;

ii) the National Paralympic Committee;

iii) the National Sports Federation; and

iv) the Regional Sports Federation;

c) “Athletes Committee”, “Disputes Resolution Committee”, “Ethics

Committee” and “Executive Committee”, by whatever name called, means the

“Athletes Committee”, “Disputes Resolution Committee”, “Ethics Committee”

and “Executive Committee”, respectively, of a National Sports Body;

d) “Board” means the National Sports Board established under

sub-VHFWLRQ1) of section 5;

e) “Board recognition” means recognition of a sports organisation by

the Board under this Act;

f) “bye-laws” means the memorandum of association or articles of

association, by whatever name called, of a sports organisation;

g) “designated sport” means any sport discipline as may be specified by

the Central Government, by notification, to be a designated sport for a specific

region or State or for the whole of India;

h) “International Charters and Statutes” means the Olympic Charter and

other Charters and Statutes of the international sports governing bodies and

include any bye-laws, rules, regulations or constitution, by whatever name

called, as may be adopted, amended or issued by such bodies from time to time;

L “International Federation” means—

$ a federation recognised as such by the International Olympic

Committee in respect of an Olympic sport; or

%) a federation recognised as such by the International Paralympic

Committee in respect of a Paralympic sport; or

2 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-26

&) a federation which regulates the sport at international level in

respect of non-Olympic or non-Paralympic sports;

j) “International Olympic Committee” means the governing body for

the Olympic Games;

k) “International Paralympic Committee” means the governing body for

the Paralympic Games;

l) “international recognition” means the recognition of a national sports

governing body by the concerned international sports governing body;

m) “International Sports Body” means an international sports governing

body such as the International Olympic Committee or the International

Paralympic Committee or International Federation or a continental governing

body for sports;

n) “National Olympic Committee” means the National Olympic

&RPPLWWHHHVWDEOLVKHGXQGHUVHFWLRQDVDQDWLRQDOVSRUWVJRYHUQLQJERG\DQG

recognised as the National Olympic Committee of India by the International

Olympic Committee;

o) “National Paralympic Committee” means the National Paralympic

&RPPLWWHHHVWDEOLVKHGXQGHUVHFWLRQDVDQDWLRQDOVSRUWVJRYHUQLQJERG\DQG

recognised as the National Paralympic Committee of India by the International

Paralympic Committee;

p) “National Sports Body” means a national sports governing body such

as the National Olympic Committee or the National Paralympic Committee or

the National Sports Federation or the Regional Sports Federation, established

XQGHUVHFWLRQ

q) “National Sports Election Panel” means the National Sports Election

Panel notified under section 16 to oversee the conduct of free and fair elections

to the Executive Committee and the Athletes Committee of the National Sports

Bodies;

r) “National Sports Federation” means a National Sports Federation

HVWDEOLVKHG XQGHU VHFWLRQ DV a national sports governing body for a

designated sport;

“National Sports Promotion Organisation” means a sports

organisation or body contributing towards the development of sports, such as

talent identification and their nurturing, policy advocacy relating to sports

administration or welfare and recognised by the Board under sub-VHFWLRQ7)

of section 8;

t) “notification” means a notification published in the Official Gazette

and the expression “notify” or “notified”, shall be construed accordingly;

u) “prescribed” means prescribed by rules made by the Central

Government under this Act;

v) “recognised sports organisation” means a sports organisation

recognised by the Board as a National Sports Body under sub-VHFWLRQ1) of

section 8;

w) “Regional Sports Federation” means a Regional Sports Federation

HVWDEOLVKHGXQGHUVHFWLRQDVQDWLRQDOVSRUWVJRYHUQLQJERG\IRUDGHVLJQDWHG

sport;

x) “regulations” means regulations made by the Board under this Act;

y) “Secretary General” means the Secretary General or the Secretary of

a National Sports Body;

No. 11-26] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 3

Establishment of

national sports

governing

ERGLHV

Compliance with

certain

UHTXLUHPHQWVE\

National Sports

%RGLHV

z) “sportsperson of outstanding merit” means a sportsperson referred to

in WKHSURYLVRWRFODXVHa) of sub-VHFWLRQ1) of section 4;

za) “State” means a State specified in the First Schedule to the

Constitution and includes a Union territory;

zb) “Tribunal” means the National Sports Tribunal constituted under

sub-VHFWLRQ1RIVHFWLRQ

CHAPTER II

NATIONAL SPORTS BODIES

3 1) The following bodies shall be established as the national sports

governing bodies for their respective recognised sports organisations, namely:—

a) the National Olympic Committee;

b) the National Paralympic Committee;

c) a National Sports Federation for each designated sport; and

d D5HJLRQDO6SRUWV)HGHUDWLRQIRUHDFKGHVLJQDWHGVSRUW

2) There shall be only one National Olympic Committee and one National

Paralympic Committee, each governing multi-VSRUWGLVFLSOLQHV

3) The National Olympic Committee shall have an international recognition

DQGDIILOLDWLRQRIWKH,QWHUQDWLRQDO2O\PSLF&RPPLWWHH

4) The National Paralympic Committee shall have an international

UHFRJQLWLRQDQGDIILOLDWLRQRIWKH,QWHUQDWLRQDO3DUDO\PSLF&RPPLWWHH

5) Every National Sports Federation shall have an international recognition

and affiliation of the concerned international sports governing body:

Provided that this sub-section shall not apply to a designated sport which does

QRWKDYHDQLQWHUQDWLRQDOVSRUWVJRYHUQLQJERG\

6) Every Regional Sports Federation shall have the relevant affiliations as

PD\EHSUHVFULEHG

4 1) Every National Sports Body shall have,—

a D*HQHUDO%RG\FRQVLVWLQJRIHTXDOQXPEHURIUHSUHVHQWDWLYHVIURP

each of its affiliate units and such other ex officio members as per its bye-laws

and the International Charters and Statutes, as applicable:

Provided that it shall have representation of such sportspersons of

outstanding merit and such other categories of persons, as may be prescribed;

b) an Executive Committee which shall consist of not more than fifteen

members, of whom—

i) at least two shall be sportspersons of outstanding merit;

ii) two shall be from the Athletes Committee to be elected from

amongst themselves; and

iii) such number of ex officio and other members shall be

nominated or elected, as the case may be, as per the International

Charters and Statutes and the bye-laws:

Provided that at least four members shall be women:

Provided further that the voting rights of elected representatives of the

Athletes Committee in the Executive Committee shall be as determined by the

bye-laws;

4 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-26

c) an Ethics Committee to be constituted as per its bye-laws and the

International Charters and Statutes, as applicable:

Provided that the Ethics Committee of the National Olympic Committee

shall function as the Ethics Committee of any National Sports Body which

does not have such Committee;

d) a Dispute Resolution Committee to be constituted as per its bye-laws

and the International Charters and Statutes, as applicable:

Provided that the Dispute Resolution Committee of the National

Olympic Committee shall function as the Dispute Resolution Committee of

any National Sports Body which does not have such Committee;

e) an Athletes Committee consisting of elected members as determined

by the bye-laws;

f) a President who shall be the head of the concerned National Sports

Body and shall preside over the meetings of its Executive Committee and the

General Body;

g) a Secretary General ZKR shall be the head of administration

responsible for carrying out all decisions of the Executive Committee and

the General Body:

Provided that where the International Charters and Statutes provide for

a full-time head of administration, by whatever name called, there shall not be

an elected post of the head of administration;

h) a Treasurer who shall be the custodian of funds or the accounts of the

concerned National SportV%RG\

2) A person shall not be TXDOLILed to contest for election or seek nomination

to, the Executive Committee, unless—

a) such person is a citizen of India who has attained at least twenty-five

years of age;

E) the nomination of such person is duly proposed and seconded by a

voting member of the General Body;

F such person is not declared to be of unsound mind;

G such person complies with the International Charters and Statutes and

bye-laws relating to age and term of the Executive Committee:

Provided that such person shall not be more than seventy years of age on

the last date of nomination for election:

Provided further that any person, aged between seventy and seventy-five

years, may contest elections or seek nominations, if permitted by the

International Charters and Statutes and the bye-laws and in case such person

is elected, he shall serve for a full term;

H) such person, if he is a government servant, has necessary approvals

from the Government, as applicable

3URYLGHGWKDWDSHUVRQVKDOOQRWEHTXDOLILHGWRFRQWHVWIRUHOHFWLRQRU

VHHNQRPLQDWLRQWRWKHSRVWVRIWKH3UHVLGHQWRUWKH6HFUHWDU\*HQHUDORUWKH

7UHDVXUHU XQOHVV VXFK SHUVRQ LV D VSRUWVSHUVRQ RI RXWVWDQGLQJ PHULW RU

KDV SUHYLRXVO\ VHUYHG DV D PHPEHU IRU DW OHDVW RQH IXOO WHUP LQ WKH

([HFXWLYH&RPPLWWHH RI WKH 1DWLRQDO 6SRUWV %RG\ RU DV WKH 3UHVLGHQW RU

WKH6HFUHWDU\*HQHUDORUWKH7UHDVXUHULQLWVDIILOLDWHXQLW

No. 11-26] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 5

Establishment of

National Sports

%RDUG

Powers and

functions of

%RDUG

subject to a maximum period of four yearV

4) The mode of election to different bodies, committees and offices including

their term, eligibility criteria and GLVTXDOLILFDWLRQ of members thereof, and other

PDWWHUVRIJRYHUQDQFHVKDOOEHVXFKDVPD\EHSUHVFULEHG

CHAPTER III

THE NATIONAL SPORTS BOARD

5 1) The Central Government may, by notification, establish a Board to be

known as the National Sports Board, consisting of a Chairperson and such number

RIRWKHU0HPEHUVDVPD\EHSUHVFULEHG

2) 7KH&KDLUSHUVRQDQGWKH0HPEHUVUHIHUUHGWRLQVXEVHFWLRQ1) shall be

appointed by the Central Government from amongst persons of ability, integrity and

standing who possesses special knowledge or practical experience in the field of

public administration, sports governance, sports law and other related fields, on the

recommendation of a search-cum-selection committee comprising of such number

of persons, having wide experience in public administration, sports administration

DQGUHFLSLHQWVRIQDWLRQDOVSRUWVDZDUGVDVPD\EHSUHVFULEHG

3) The salary and allowances and the term of office of the Chairperson and

other Members of the Board and other terms and conditions of their service,

LQFOXGLQJUHPRYDOIURPVHUYLFHVKDOOEHVXFKDVPD\EHSUHVFULEHG

4) The Board shall be a body corporate by the name aforesaid, having

perpetual succession and a common seal, with power subject to the provisions of

WKLV$FWWRDFTXLUHKROGDQGGLVSRVHRISURSHUW\ERWKPRYDEOHDQGLPPRYDEOHDQG

WRFRQWUDFWDQGVKDOOE\WKHVDLGQDPHVXHRUEHVXHG

5) The head office of the Board shall be at Delhi and the Board shall establish

its branch offices at such other places as may EHSUHVFULEHG

6 The Board shall exercise and perform the following powers and functions

to carry out the provisions of this Act, namely:—

a) the grant of Board recognition to sports organisations and registration

of affiliate units and to suspend or cancel such recognition or registration;

b) to maintain a register of the National Sports Bodies and each of their

respective affiliate units in such manner as may be specified by regulations;

F to conduct LQTXLULHV on matters specified in section 9;

G to constitute an ad hoc administrative body or to direct the concerned

National Sports Body or their affiliate units, as the case may be, to so

constitute, as per section 11;

e) to issue guidelines for formulation of the Code of Ethics by the

National Sports Bodies;

f) to frame Safe Sports Policy for the protection and safety of women,

minor athletes and other classes of persons;

g) maintain a roster of the National Sports Election Panel as per section 16;

7KHWHUPRIWKH([HFXWLYH&RPPLWWHHVKDOOEHDVSURYLGHGLQWKHE\HODZV

3URYLGHGIXUWKHUWKDWDSHUVRQPD\FRQWLQXRXVO\KROGWKHSRVLWLRQRIHLWKHU

WKH3UHVLGHQWRUWKH6HFUHWDU\*HQHUDORUWKH7UHDVXUHUDVWKHFDVHPD\EHIRUXS

WR WKUHH FRQVHFXWLYH WHUPV VHSDUDWHO\ RU LQ FRPELQDWLRQ WKHUHRI DQG VKDOO

EH HOLJLEOH IRU HOHFWLRQ WR VXFK SRVWV RU WR WKH ([HFXWLYH &RPPLWWHH DIWHU D

PDQGDWRU\FRROLQJRIISHULRGRIRQHWHUP

6 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-26

h) collaborate with the International Sports Bodies and National Sports

Bodies for the development of sports and welfare of athletes in India and to

issue guidelines to the National Sports Bodies for ensuring compliance with

the international standards and best practices of the Olympic and sports

movement;

i) take such measures as may be prescribed, to ensure the protection of

the rights and welfare of athletes and support personnel; and

j VXFKRWKHUSRZHUVDQGIXQFWLRQVDVPD\EHSUHVFULEHG

7 1) The Central Government shall, in consultation with the Board, appoint

such officers and other employees as may be necessary for discharging the functions

of tKH%RDUG

2) The officers and other employees of the Board shall discharge their

functions under the general superintendence and control of the Chairperson or any

other member of the Board to whom powers for exercising such superintendence

DQGFRQWURODUHGHOHJDWHGE\WKH&KDLUSHUVRQ

3) 7KHTXDOLILFDWLRQVDSSRLQWPHQWVDODU\DQGDOORZDQFHVDQGRWKHUWHUPVDQG

conditions of service of the officers and other employees of the Board shall be such

DVPD\EHSUHVFULEHG

CHAPTER IV

THE GOVERNANCE OF RECOGNISED SPORTS ORGANISATIONS

8 1) The Board shall have the power to grant Board recognition to any sports

organisation as a National SSRUWV%RG\

2) Any sports organisation desirous of obtaining Board recognition as a

National Sports Body under this section shall apply to the Board in such form and

PDQQHUDQGFRQWDLQLQJVXFKSDUWLFXODUVDVPD\EHVSHFLILHGE\UHJXODWLRQV

3) No sports organisation shall be recognised under sub-section 1) unless

such organisation,—

D is a society registered under the Societies Registration Act, 1860RU

XQGHUWKH6RFLHWLHV5HJLVWUDWLRQ$FWRID6WDWH; or

E is a not-for-profit company incorporated under section 8 of the

&RPSDQLHV$FWRU

F is a trust created under the Indian Trusts Act, 1882RUXQGHUWKH7UXVWV

$FWRID6WDWH; and

G complies with such other criteria and conditions as may be specified

E\UHJXODWLRQVDQGKDYLQJWKHVROHREMHFWRIWKHGHYHORSPHQWRIVSRUWV

4) The Board recognition granted under this section shall be renewed

periodically at such intervals and in accordance with such procedure as may be

VSHFLILHGE\UHJXODWLRQV

5) All sports organisations recognised as National Sports Bodies by the

Central Government before the commencement of this Act, shall be deemed to have

Board recognition under this Act and the provisions of this Act shall, mutatis

mutandisDSSO\WRVXFKRUJDQLVDWLRQ

6) All affiliate units of National Sports Bodies shall ensure that they are

registered with the Board, subject to such conditions and in such manner, as may be

SUHVFULEHG

7) The Board, subject to the prior approval of the Central Government, shall

also have the power to recognise sports organisations participating in sports

governance, athlete support

and

welfare,

National

Sports

Promotion

2UJDQLVDWLRQ

6WDIIRI%RDUG

Board recognition

DQGUHJLVWUDWLRQ

No. 11-26] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 7

Power of Board

to conduct

LQTXLU\

Power of Board

to suspend or

cancel Board

recognitionRU

UHJLVWUDWLRQ

8) The eligibility criteria for Board recognition and the manner of governance

and functioning of the National Sports Promotion Organisations shall be such as

may be specified by regulations:

Provided that a National Sports Promotion Organisation recognised by the

Central Government before the commencement of this Act, shall be deemed to have

been recognised as such under this Act and the provisions of this Act shall, mutatis

mutandis, apply to such organisation:

Provided further that the Board recognition granted under this sub-section

shall be renewed periodically at such intervals and in accordance with such

SURFHGXUHDVPD\EHVSHFLILHGE\UHJXODWLRQV

9 The Board may, either on its own motion, or in response to complaint

received from any person or body on matters affecting the welfare of sportspersons

or the development of sports in the country or misuse of public funds, conduct an

LQTXLU\ZKHUHLWLVVDWLVILHGWKDWWKHUHLVDUHDVRQDEOHFDXVHVRWRGR

Provided that no such complaint shall be entertained unless the complainant

has exhausted all available remedies with the National Sports Body or LWV affiliate

units:

Provided further that the Board may entertain such complaint if it is satisfied

that accessing those remedies would result in unnecessary delay or unreasonable

SUHMXGLFH

10 1) The Board may, either on its own motion, or on the receipt of a

complaint by an aggrieved party, by order, suspend or cancel the Board recognition

of a sports organisation as a National Sports Body or registration of an affiliate unit

of a National Sports Body, in any of the following circumstances, namely:—

a) the international recognition of the concerned National Sports Body

has been suspended or cancelled by the concerned International Sports Body;

b) the concerned affiliate unit has been suspended or disaffiliated by the

concerned National Sports Body;

c) the National Sports Body has violated any of the provisions of this

Act or the rules or regulations made thereunder, including eligibility criteria

or terms and conditions of the Board recognition;

d) the Registrar of Companies or the Registrar of Societies of the

concerned sports organisation has reported gross irregularities in the internal

functioning or removed the name of the National Sports Body or its affiliate

units;

e) the National Sports Body or the affiliate unit has—

i) failed to hold elections for its Executive Committee or has

committed gross irregularities in the election procedures thereof; or

ii) failed to publish its annual audited accounts; or

iii) has misused, misapplied or misappropriated any public funds:

Provided that the suspension or disaffiliation referred to in clause a) and

FODXVHb) shall be co-terminus with the suspension or disaffiliation by the concerned

International Sports Body or the National Sports Body, as the case may be, which

may be extended by the Board, for reasons to be recorded in writing, for such further

SHULRGDVWKH%RDUGPD\FRQVLGHUQHFHVVDU\

2) Before issuing an order of suspension or cancellation of Board

recognition RU UHJLVWUDWLRQ XQGHU VXEVHFWLRQ 1), the Board shall consult the

concerned—

8 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-26

a) International Sports Body, where such suspension or cancellation of

Board recognition concerns the National Sports Federation or the Regional

Sports Federation;

b) National Sports Federation or the Regional Sports Federation, where

such suspension or cancellation of registration concerns any affiliate unit,

and upon such consultation, take any of the following measures, namely:—

i) issue an order, directing the National Sports Body or its affiliate unit,

to take such action as is appropriate to correct the deficiency and upon

compliance, the Board may make a finding of compliance; or

ii) conduct a hearing by giving reasonable opportunity to the parties to

SUHVHQWWKHLUFDVHEHIRUHSURQRXQFLQJLWVGHFLVLRQ

3) An appeal against any order of the Board for suspension or cancellation of

Board recognition or registration XQGHUWKLVVHFWLRQVKDOOOLHZLWKWKH7ULEXQDO

11 1) In the event of loss of the international recognition of a National Sports

Body, the normalisation process shall be implemented as per the International

Charters and Statutes and the Board sKDOOQRWLQWHUIHUHLQVXFKSURFHVV

2) In the absence of the normalisation process referred to in sub-VHFWLRQ1)

on the loss of international recognition of a National Sports Body, or in the event of

cancellation or suspension of Board recognition of a National Sports Body under

section 10, where the loss of recognition concern—

a) a National Olympic Committee or a National Paralympic Committee,

the Board may constitute an ad hoc administrative body in consultation with

the International Olympic Committee or the International Paralympic

Committee, as the case may be;

b) a National Sports Federation, the Board may, in consultation with the

concerned International Federation, wherever applicable, direct the National

Olympic Committee to constitute an ad hoc administrative body;

c) a Regional Sports Federation, the Board may in consultation with the

concerned International Federation, if any, constitute an ad hoc DGPLQLVWUDWLYHERG\

3) In the event of cancellation or suspension of Board recognition or

registration of an affiliate unit of a National Sports Body under section 10,—

a) where the cancellation or suspension of Board recognition or

registration, concerns a State sports federation, the Board may direct the

concerned National Sports Federation or the Regional Sports Federation; and

b) where the cancellation or suspension of Board recognition or

registration, concerns a district sports federation, the Board may direct the

concerned State sports federation,

to constitute an ad hoc administrative body consisting of such members as may be

determined by the Board in consultation with the National Sports Body or the

FRQFHUQHGDIILOLDWH6WDWHXQLWDVWKHFDVHPD\EH

4) The ad hoc administrative body shall be responsible for administering the

concerned sports body or its affiliate units to ensure compliance with the provisions

RIWKLV$FW

5) The ad hoc administrative body referred to in sub-VHFWLRQ2) shall consist

of a maximum of five eminent sports administrators, who have previously held the

office of a President or a Secretary General or a Treasurer of a National Sports Body

or who is or has served as a member of the Executive Committee of the National

Olympic Committee, having no past association with the sports discipline or any

conflict of interest:

Provided that no person shall be part of more than one ad hoc administrative

ERG\DWWKHVDPHWLPH

Ad hoc

administrative

ERG\

No. 11-26] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 9

&RGHRI(WKLFV

Safe Sports

3ROLF\

Privileges of

recognised

sports

RUJDQLVDWLRQ

Duties of

recognised

sports

RUJDQLVDWLRQ

National Sports

Election Panel

and appointment

of electoral

officerV

CHAPTER V

CODE OF ETHICS

12 1) Every National Sports Body shall formulate a Code of Ethics for the

members of its Executive Committee and other committees, employees, staff,

sponsors, coaches, athletes, officials, members, affiliates and such other relevant

SHUVRQVLQDFFRUGDQFHZLWKWKHJXLGHOLQHVVSHFLILHGE\WKH%RDUG

2) The Code of Ethics shall establish minimum standards for the ethical and

appropriate conduct of the persons VSHFLILHGLQVXEVHFWLRQ1

3) The Code of Ethics shall be framed in accordance with the Code of Ethics

ofthe International Sports Bodies and in consonance with the applicable laws in ,QGLD

4) The Code of Ethics shall provide measures for protection of vulnerable

persons against abuse by person in Dposition of trust, responsibility or DXWKRULW\

Explanation—For the purposes of this sub-section, “person in a position of

trust” means any person who exercises authority, control or influence over another

person, or a person on whom another person is dependent and who is connected or

DVVRFLDWHGZLWKWKHDIIDLUVRIWKH1DWLRQDO6SRUWV%RG\

CHAPTER VI

SAFE SPORTS POLICYAND GRIEVANCE REDRESSAL

13 1) The Board shall frame a comprehensive Safe Sports Policy applicable

to all activities, events, operations and proceedings conducted by the National

6SRUWV%RGLHV

2) The Safe Sports Policy shall include provisions to ensure the protection

and safety of women and minor athletes and such other persons as may be

SUHVFULEHG

3) Every National Sports Body shall establish an internal grievance redressal

mechanism to address the grievances raised by athletes, coaches and other

LQGLYLGXDOVDVVRFLDWHGZLWKVXFKERG\LQDIDLUWLPHO\DQGWUDQVSDUHQWPDQQHU

CHAPTER VII

PRIVILEGES AND DUTIES OF RECOGNISED SPORTS ORGANISATION

14 Only a recognised sports organisation shall be eligible to receive grants

orany other financial assistance from the Central *RYHUQPHQW

$UHFRJQLVHGVSRUWVRUJDQLVDWLRQUHFHLYLQJJUDQWVRUDQ\RWKHUILQDQFLDO

DVVLVWDQFH IURP WKH &HQWUDO *RYHUQPHQW XQGHU VXEVHFWLRQ RU IURP D 6WDWH

*RYHUQPHQW VKDOO EH FRQVLGHUHG DV D SXEOLF DXWKRULW\ XQGHU WKH 5LJKW WR

,QIRUPDWLRQ $FW ZLWK UHVSHFW WR XWLOLVDWLRQ RI VXFK JUDQWV RU DQ\ RWKHU

ILQDQFLDODVVLVWDQFH

15 A recognised sports organisation shall ensure that all its voting

members and affiliate units, as applicable, complies with—

a) the International Charters and Statutes, as applicable, and shall

exercise the rights, perform the duties and discharge the functions as

specified therein; and

b) the provisions of this Act and the rules and regulations made

WKHUHXQGHU

CHAPTER VIII

NATIONAL SPORTS ELECTION PANEL

16 1) The Central Government shall, on the recommendations of the Board,

notify a National Sports Election Panel consisting of such number of persons as it

may deem necessary, who are retired Chief Election Commissioner or Election

Commissioner or Deputy Election Commissioner or retired State Election

&RPPLVVLRQHURU&KLHI(OHFWRUDO2IILFHUVRIWKH6WDWHVZLWKDGHTXDWHH[SHULHQFH

of conduct of elections under the Representation of the People Act,

10 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-26

2) 7KHSHUVRQVQRWLILHGXQGHUVXEVHFWLRQ1) shall act as electoral officers to

oversee the conduct of free and fair elections to the Executive Committees and the

$WKOHWHV&RPPLWWHHRIWKH1DWLRQDO6SRUWV%RGLHV

3) The Board shall maintain a roster of the National Sports Election Panel in

such manner as may be prHVFULEHG

4) The fees and other allowances to be paid to the persons notified under

VXEVHFWLRQ1) shall be such as mD\EHSUHVFULEHG

5) The National Sports Bodies may appoint an electoral officer from the

National Sports Election Panel to oversee its election process and ensure free and

fair elections:

Provided that where the CharterV or Statutes of the International Sports Body

UHTXLUH appointment of any other person as an electoral officer, the concerned

National Sports Body may appoint such other person after furnishing the details,

LQFOXGLQJTXDOLILFDWLRQVDQGH[SHULHQFHRIWKHSHUVRQWRWKH%RDUG

6) Every National Sports Body, having affiliate units, shall prepare an

Election Panel for the conduct of free and fair elections of the Executive Committees

of their affiliate units, consisting of such number of retired persons as it may deem

necessary, having DGHTXDWH experience of conduct of elections under the

5HSUHVHQWDWLRQRIWKH3HRSOH$FW

7) Every affiliate unit shall appoint an electoral officer from the roster to be

maintained by the National Sports Body, to oversee its election process and ensure

IUHHDQGIDLUHOHFWLRQV

CHAPTER IX

NATIONAL SPORTS TRIBUNAL

17 1) The Central Government shall, by notification, constitute a National Sports

Tribunal consisting of a chairperson and two other members, to provide for the

LQGHSHQGHQWVSHHG\HIIHFWLYHDQGFRVWHIILFLHQWGLVSRVDORIVSRUWVUHODWHGGLVSXWHV

2) The chairperson shall be a person who is or has been, a Judge of the

Supreme Court or the Chief Justice of a High CRXUW

3) The members shall be persons of eminence in public life with wide

knowledge and experience in sporWVSXEOLFDGPLQLVWUDWLRQDQGODZ

4) The chairperson and the other members of the Tribunal shall be appointed

by the Central Government on the recommendations of a Search-cum-Selection

Committee consisting of the following members, namely:—

a) the Chief Justice of India or a Supreme Court Judge recommended

by the Chief Justice of India—chairperson;

b) the Secretary to the Government of India in the Ministry of Law and

Justice²PHPEHU;

c) the Secretary to the Government of India in the Department of

Sports²PHPEHU

5) The Search-cum-Selection Committee shall determine the procedure for

PDNLQJLWVUHFRPPHQGDWLRQV

6) Notwithstanding anything contained in any judgment, order or decree of

any court, or in any law for the time being in force, the Search-cum-Selection

Committee shall recommend a panel of two names for appointment to the post of

chairperson or member, as the case may be, and the Central Government shall take

a decision on the recommendations made by that Committee, preferably within three

PRQWKVIURPWKHGDWHRIVXFKUHFRPPHQGDWLRQ

7) No appointment shall be invalid merely by reason of any vacancy or

absence of a member in the Search-cum-Selection &RPPLWWHH

8) The term of office and other conditions of service of chairperson and

members of the Tribunal shall be such as may EHSUHVFULEHG

Constitution of

National Sports

7ULEXQDO

No. 11-26] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 11

Removal of

chairperson or

members of

7ULEXQDO

Staff of

7ULEXQDO

Exclusion of

jurisdiction of

7ULEXQDO

9) The Tribunal shall formulate its own procedure for the conduct of its

EXVLQHVVLQFOXGLQJWKHWLPHOLQHVWREHIROORZHGIRUWKHGLVSRVDORIPDWWHUV

10) All expenses incurred in connection with the Tribunal shall be defrayed

out of the Consolidated Fund of ,QGLD

18 1) The Central Government shall remove from office a chairperson or

member of the Tribunal who—

a) has been adjudged an insolvent;

b) has been convicted of an offence which, in the opinion of the Central

Government, involves moral turpitude;

c) has become physically or mentally incapable of acting as a member;

d KDVDFTXLUHG VXFK ILQDQFLDO RU RWKHU LQWHUHVW DV LV OLNHO\ WR DIIHFW

prejudicially his functions as a member; or

e) has so abused his position as to render his continuation in office

prejudicial to public interest:

Provided that where the chairperson or member is proposed to be

removed on any groundVSHFLILHGLQFODXVHVcWRe), he shall be informed of

the charges against him and given an opportunity of being heard in respect of

WKRVHFKDUJHV

2) Notwithstanding anything contained in sub-section 1), a member of the

Tribunal shall not be removed from his office on the grounds specified therein unless

the Chief Justice of India or his nominee judge, on a reference being made to him in

this behalf by the Central Government, has on LQTXLU\KHOGLQDFFRUGDQFH with such

SURFHGXUHDVKHPD\VSHFLI\LQWKLVEHKDOIUHFRPPHQGHGWKHUHPRYDO

19 1) The Central Government shall, in consultation with the Tribunal,

appoint such officers and other employees as may be necessary for discharging the

IXQFWLRQVRIWKH7ULEXQDO

2) The officers and other employees of the Tribunal shall discharge their

functions under the general superintendence and control of the chairperson or any

other member of the Tribunal to whom powers for exercising such superintendence

DQGFRQWURODUHGHOHJDWHGE\WKHFKDLUSHUVRQ

3) 7KHTXDOLILFDWLRQVDSSRLQWPHQWVDODU\DQGDOORZDQFHVDQGRWKHUWHUPVDQG

conditions of service of officers and other employees of the Tribunal shall be such

DVPD\EHSUHVFULEHG

20 The Tribunal shall not have jurisdiction to adjudicate the following

matters, namely:—

a) any dispute, or conflict arising during the Olympic Games,

Paralympic Games, Commonwealth Games, Asian Games, or any other

similar events organised by any International Federations;

b) any dispute falling within the exclusive jurisdiction of—

i) the internal disputes resolution committee of a National Sports

Body; or

ii) any other tribunal or court; or

iii) any International Federation; or

iv) the Court of Arbitration for Sports established in Lausanne,

Switzerland;

c) doping related disputes, where Disciplinary Panels constituted under

the National Anti-Doping Act, 2022 have exclusive jurisdiction;

d) any matter in respect of which the International Charters and Statutes

UHTXLUHWKHSDUWLHVWRVXEPLWWRVSHFLILFPHFKDQLVPRUIRUXPIRUDGMXGLFDWLRQ

12 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-26

21 7KH PHPEHUV DQG RWKHU RIILFHUV DQG HPSOR\HHV RI WKH %RDUG RU WKH

Tribunal shall be deemed to be public servants within the meaning of

clause 28RIVHFWLRQRIWKH%KDUDWL\D1\D\D6DQKLWD

22 1) All cases under civil jurisdiction falling within the scope of this Act, in

which the National Sports Bodies are impleaded as parties and are pending before a

District Court or High Court immediately before the constitution of the Tribunal,

shall be transferred to the Tribunal on and from such date as may be specified by the

&HQWUDO*RYHUQPHQW

2) The cases transferred to the Tribunal under sub-VHFWLRQ1) may be heard

and adjudicated from the stage at which such dispute was pending in the concerned

Court, or may be heard afresh if the Tribunal deems appropriate after recording the

UHDVRQVWKHUHIRULQZULWLQJ

23 1RFLYLOFRXUWVKDOOKDYHMXULVGLFWLRQWRHQWHUWDLQDQ\VXLWRUSURFHHGLQJLQ

respect of any matter on which the Tribunal is empowered under this Act to

determine and no injunction shall be granted by any court or other authority in

respect of any action taken or to be taken in pursuance of any power conferred on

WKH7ULEXQDOE\RUXQGHUWKLV$FW

24 1) The Tribunal shall have, for the purposes of discharging its functions

under this Act, the same powers as are vested in a civil court under the Code of Civil

Procedure, 1908 while trying a suit, in respect of the following matters, namely:—

a) summoning and enforcing the attendance of any person and

examining him on oath;

b UHTXLULQJWKHGLVFRYHU\DQGSURGXFWLRQRIGRFXPHQWV

c) receiving evidence on affidavits;

d) calling for any public record or document or a copy of such record or

document, from any office, subject to the provisions of sections DQG

RIWKH%KDUDWL\D6DNVK\D$GKLQL\DP

e) issuing commissions for the examination of witnesses or documents;

f) reviewing its decisions;

g) dismissing an application for default or deciding it, ex parte;

h) setting aside any order of dismissal of any application for default or

any order passed by it, ex parte; and

i DQ\RWKHUPDWWHUZKLFKPD\EHSUHVFULEHG

2) Every proceeding before the Tribunal shall be deemed to be a judicial

SURFHHGLQJ ZLWKLQ WKH PHDQLQJ RI VHFWLRQV 257 and 267 of the

%KDUDWL\D1\D\D6DQKLWD

3) The Tribunal shall be deemed to be a civil court for the purpose of

section 215 of the %KDUDWL\D1DJDULN6XUDNVKD6DQKLWD

25 1) Unless the International Charters and Statutes provide for appeal before

the Court of Arbitration for Sport, an appeal shall lie against any order of the

7ULEXQDOQRWEHLQJDQLQWHUORFXWRU\RUGHUWRWKH6XSUHPH&RXUW

2) No appeal shall lie against any decision made by the Tribunal with the

consent RIWKHSDUWLHV

3) Every appeal under this section shall be preferred within a period of thirty

days from the date of the decision appealed against:

Provided that the Supreme Court may entertain the appeal after the expiry of

the said period of thirty days, if it is satisfied that the appellant was prevented by

sufficient cause from preferrLQJWKHDSSHDOLQWLPH

0HPEHUVHWFWR

be public

VHUYDQWV

Transfer of

SHQGLQJFDVHV

Bar on

jurisdiction of a

FLYLOFRXUW

Powers of

7ULEXQDO

Appeal to

6XSUHPH&RXUW

No. 11-26] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 13

Orders passed by

Tribunal to be

executable as a

GHFUHH

Use of national

names and

LQVLJQLD

)XQG

Accounts and

DXGLW

26 1) An order passed by the Tribunal under this Act shall be executable as

a decree of a civil court, and for this purpose, the Tribunal shall have all the powers

RIDFLYLOFRXUW

2) Notwithstanding anything contained in sub-VHFWLRQ1), the Tribunal may

transmit any order made by it to a civil court having local jurisdiction and such civil

FRXUWVKDOOH[HFXWHWKHRUGHUDVLILWZHUHDGHFUHHPDGHE\WKDWFRXUW

CHAPTER X

USE OF NATIONAL NAMES AND INSIGNIA

27 1) Any sports organisation desirous of using the word “India” or “Indian”

or “National” or any national insignia or symbols in any language in its registered

name, operating name, logo or otherwise in its affairs, shall obtain a no-objection

certificate from the Central Government for such use:

Provided that a sports organisation other than a recognised sports organisation

VKDOOLQDGGLWLRQWRWKHUHTXLUHPHQWVXQGHUWKLVVXE-section, obtain written consent

RIWKH%RDUG

2) No sports organisation shall use the name “India” or the name of any State

or district in India, or conduct any sports trials, tournaments, or events upon the

VXVSHQVLRQRUFDQFHOODWLRQRILWVUHFRJQLWLRQE\WKH%RDUGXQGHUWKLV$FW

3) No person or group of persons, either individually or collectively, shall

represent or be allowed to represent India or any State or district in India, in any

sports trials, tournaments or events of designated sports without an authorisation by

D1DWLRQDO6SRUWV%RG\RULWVDIILOLDWHXQLW

CHAPTER XI

MISCELLANEOUS

28 1) There shall be constituted a Fund to be called the National Sports Board

Fund and there shall be credited thereto—

a) all grants, fees and charges received by the Board under this Act; and

b) all sums received by the Board from such other sources as may be

decided upon by WKH&HQWUDO*RYHUQPHQW

2) The Fund constituted under sub-VHFWLRQ1) shall be applied for meeting—

a) the salaries and allowances payable to the Chairperson and Members

of the Board and the administrative expenses including the salaries and

allowances payable to or in respect of officers and other employees of the

Board; and

b) all other expenses for meeting the objects and for the purposes

DXWKRULVHGE\WKLV$FW

29 1) The Board shall maintain proper accounts and other relevant records and

prepare an annual statement of accounts in such form as may be prescribed by the Central

Government in consultation with the Comptroller and Auditor-*HQHUDORI,QGLD

2) The accounts of the Board shall be audited by the Comptroller and

Auditor-General of India at such intervals as may be specified by him and any

expenditure incurred in connection with such audit shall be payable by the Board to

the Comptroller and Auditor-GenerDORI,QGLD

3) The Comptroller and Auditor-General of India and any other person

appointed by him in connection with the audit of the accounts of the Board shall

have the same rights and privileges and authority in connection with such audit as

the Comptroller and Auditor-General of India generally has, in connection with the

audit of the Government accounts and, in particular, shall have the right to demand

the production of books, accounts, connected vouchers and other documents and

papers and to inspeFWDQ\RIWKHRIILFHVRIWKH%RDUG

14 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-26

4) The accounts of the Board as certified by the Comptroller and

Auditor-General of India or any other person appointed by him in this behalf

together with the audit report thereon shall be forwarded annually to the Central

Government and that Government shall cause the same to be laid before each House

RI3DUOLDPHQW

30 1) The Central Government in consonance with the International Charters

and Statutes, may take such measures as may be prescribed, as it considers necessary

for the promotion aQGGHYHORSPHQWRIVSRUWVLQFOXGLQJLQWKHSXEOLFLQWHUHVW

2) The measures referred to in sub-VHFWLRQ1), may include,—

a) the guiding principles for the conduct of elections by the National

Sports Bodies, including model election rules;

b) the promotion of the welfare and interests of sportspersons;

c) the protection of the data and privacy of sportspersons; and

d WKHDSSURSULDWHXVHRIWHFKQRORJ\DQGDQDO\WLFVLQWKHFRQWH[WRIVSRUW

31 1) The Central Government may, by notification, make rules for carrying

out the provisions of this Act:

Provided that the Central Government, while making rules under this section,

shall take into consideration the International Charters and Statutes, with the

objective of ensuring transparency, accountability, and integrity in the management

DQGDGPLQLVWUDWLRQRIVSRUWVLQ,QGLD

2) In particular, and without prejudice to the generality of the foregoing

power, such rules may provide for all or any of the following matters, namely:—

a) the relevant affiliations of Regional Sports Federation under

VXEVHFWLRQ6) of seFWLRQ

b) the sportspersons of outstanding merit and other categories of persons

under WKHSURYLVRWRFODXVHa) RIVXEVHFWLRQ1) of section 4;

c) the mode of election to different bodies, committees and offices

including their term, eligibility criteria DQG GLVTXDOLILFDWLRQ of members

WKHUHRIDQGRWKHUPDWWHUVRIJRYHUQDQFHXQGHUVXEVHFWLRQ4) of section 4;

d) the composition and number of Members of the Board under

VXEVHFWLRQ1) of section 5;

e) the composition of the search-cum-selection committee under

VXEVHFWLRQ2) of section 5;

f) the salary and allowances, term of office of Chairperson and other

Members of the Board and other terms and conditions of their service

LQFOXGLQJUHPRYDOIURPVHUYLFHXQGHUVXEVHFWLRQ3) of section 5;

g) other places in which the Board shall establish its branch offices

under subVHFWLRQ5) of section 5;

h) the measures to be taken by the Board for ensuring protection of the

ULJKWVDQGZHOIDUHRIDWKOHWHVDQGVXSSRUWSHUVRQQHOXQGHUFODXVHi) of section 6;

i RWKHUSRZHUVDQGIXQFWLRQVRIWKH%RDUGXQGHUFODXVHj) of section 6;

j WKHTXDOLILFDWLRQVDSSRLQWPHQWVDODU\DQGDOORZDQFHVDQGRWKHUWHUPV

and conditions of service of the RIILFHUVDQGWKHRWKHUHPSOR\HHVof the

Board under VXEVHFWLRQ3) of section 7;

k) the conditions and the manner in which affiliate units of the

NationalSports Bodies shall ensure registration of their affiliate units with

WKH%RDUGXQGHUVXEVHFWLRQ6) of section 8;

l) other persons to be covered by the Safe Sports Policy under

VXEVHFWLRQ2) RIVHFWLRQ

Measures for

promotion and

development of

VSRUWV

Power to make

UXOHV

No. 11-26] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 15

Power to make

UHJXODWLRQV

Laying of rules,

regulations and

QRWLILFDWLRQV

m) manner of maintaining roster of the National Sports Election Panel

by the Board under subVHFWLRQ3) of section 16;

n) the fees and other allowances to be paid to the empanelled persons

under subVHFWLRQ4) of section 16;

o) the term of office and other conditions of service of chairperson and

members of Tribunal under sXEVHFWLRQ8) of section 17;

p) WKH TXDOLILFDWLRQV DSSRLQWPHQW VDODU\ DQG DOORZDQFHV DQG RWKHU

terms and conditions of service of the RIILFHUVDQGWKHRWKHUHPSOR\HHVof

WKH7ULEXQDOXQGHUVXEVHFWLRQ3) of section 19;

q DQ\RWKHUPDWWHUXQGHUFODXVHi) of sub-VHFWLRQ1) of section 24;

r) the form in which the Board shall prepare annual statement of

accounts under sub-VHFWLRQ1) of section 29;

s) the measures to be taken by the Central Government for the

promotion and development of sports under sub-VHFWLRQ1RIVHFWLRQDQG

t DQ\RWKHUPDWWHUZKLFKLVWREHRUPD\EHSUHVFULEHG

32 1) The Board may, with the previous approval of the Central Government,

by notification, make regulations consistent with this Act and the rules made

thereunder, to carry out the provisions of this Act:

Provided that the Board, while making regulations under this section, shall

comply with the International CharterV and Statutes, with the objective of ensuring

transparency, accountability, and integrity in the management and administration of

VSRUWVLQ,QGLD

2) In particular, and without prejudice to the generality of the foregoing

power, such regulations may make provision for—

a) the manner of maintaining register of the National Sports Bodies and

WKHLUUHVSHFWLYHDIILOLDWHXQLWVE\WKH%RDUGXQGHUFODXVHb) of section 6;

b) the form, manner and particulars of application under sub-VHFWLRQ2)

of section 8;

c) other criteria and conditions to be complied by the sports

RUJDQLVDWLRQVXQGHUFODXVHd) of sub-VHFWLRQ3) of section 8;

d) the intervals and procedure for renewal of Board recognition under

sub-VHFWLRQ4) of section 8;

e) the eligibility criteria for Board recognition of the sports organisation

as a National Sports Promotion Organisation, the manner of their governance

and functioning and the intervals and procedure for renewal of such

recognition under sub-VHFWLRQ8) of section 8; and

f) any other matter which is to be, or may be, specified by regulations

XQGHUWKLV$FW

33. Every rule, regulation and every notification made or issued under this Act

shall be laid as soon as may be, after it is made or issued, before each House of

Parliament, while it is in session for a total period of thirty days, which may be

comprised in one session or in two or more successive sessions and if, before the

expiry of the session immediately following the session or the successive sessions

aforesaid, both Houses agree in making any modification in the rule, regulation or

notification or both Houses agree that the rule, regulation or notification should not

be made or issued, the rule, regulation or notification shall thereafter have effect

only in such modified form or be of no effect, as the case may be; so, however, that

any such modification or annulment shall be without prejudice to the validity of

DQ\WKLQJSUHYLRXVO\GRQHXQGHUWKDWUXOHUHJXODWLRQRUQRWLILFDWLRQ

16 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-26

34 1) If the Central Government considers it necessary and expedient so to

do in the public interest for the promotion of specific sport disciplines consistent

with the spirit of good governance enshrined in the Olympic Charter, it may, in

consultation with the Board and the concerned International Sports Body, by

notification, direct that subject to such conditions and restrictions, if any, and for

such period as may be specified in the notification, all or any of the provisions of

this Act or any rule or regulation made thereunder shall not apply to a National

6SRUWV%RG\RULWVDIILOLDWHXQLWVSHFLILHGWKHUHLQ

2) The Central Government may, by notification, and for reasons to be

recorded in writing, relax the eligibility criteria for the members of the Executive

Committee, if such person is serving in the executive committee or a similar body

of a corresponding International Sports Body or is in the General Body of the

,QWHUQDWLRQDO2O\PSLF&RPPLWWHHRU,QWHUQDWLRQDO3DUDO\PSLF&RPPLWWHH

35 1) The Central Government may, from time to time, give such directions

as it may think fit, to the Board or any other person or entity for the efficient

DGPLQLVWUDWLRQRIWKLV$FW

2) The Central Government may, by an order, impose reasonable restrictions

on the participation of any national team of a concerned sport in international

sports competitions or participation of any individual in the activities of the

national sports, under extraordinary circumstances and in the interest of national

VHFXULW\SXEOLFRUGHUDQGVDIHW\

36 No suit, prosecution or other legal proceeding shall lie against any

Power to exempt

LQVSHFLDOFDVHV

Power to issue

directions and

impose

restrictions in

QDWLRQDOLQWHUHVW

Protection of

action taken in

JRRGIDLWK

Conflicts with

International

Charters and

6WDWXWHV

Power to remove

GLIILFXOWLHV

0emberof the Board orPHPEHURI a National Sports Body or the Tribunal or

any RIILFHURURWKHUemployee of such authorities or any other person or authority

for anything which has been done or is intended to be done in good faith under this

$FWRUWKHUXOHVDQGUHJXODWLRQVPDGHWKHUHXQGHU

37 1) The National Sports Bodies shall primarily be guided by the

International Charters and Statutes in the governance of LWVDIIDLUV

2) In the event of any conflict between a provision of this Act and the

International Charters and Statutes, the Central Government may, after consulting

the Board and the concerned International Sports Body as may be deemed

QHFHVVDU\LVVXHDFODULILFDWRU\QRWLILFDWLRQLQWKLVUHJDUG

38 1) If any difficulty arises in giving effect to any provision of this Act, the

Central Government may, by order published in the Official Gazette, make such

provisions not inconsistent with the provisions of this Act, as may appear to it to be

necessary, for removing the difficulty:

Provided that no order shall be made under this section after the expiry of a

period of five years from the date of commencement of WKLV$FW

2) Every order made under this section shall be laid, as soon as may be after

it is made, before each House of 3DUOLDPHQW

DR. RAJIV MANI,

Secretary to the Govt. of India.

Sd/-

No. 11-26] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 17

THE GAZETTE OF INDIA EXTRAORDINARY

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KLV VXSHUDQQXDWLRQ RU YROXQWDU\ UHWLUHPHQW RU UHWLUHPHQW XQGHU

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2 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-30

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DR. RAJIV MANI,

Secretary to the Govt. of India.

Sd/-

No. 11-30] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 3

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

'HILQLWLRQV

2. In this Act, unless the context otherwise requires,—

1) “accountant” shall have the meaning assigned to it in section 5153b);

2) “Additional Commissioner” means a person appointed to be an

Additional Commissioner of Income-tax under section 2371);

3) “Additional Director” means a person appointed to be an Additional

Director of Income-tax under section 2371);

“advance tax” means the advance tax payable as per

Chapter XIX-C;

5) “agricultural income” means—

a) any rent or revenue derived from a land which is situated in

India and is used for agricultural purposes;

b) any income derived from such land by—

i) agriculture; or

ii) the performance by a cultivator or receiver of rent-in-kind

of any process ordinarily employed by a cultivator or receiver of

rent-in-kind to render the produce raised or received by him fit to

be taken to market; or

iii) the sale by a cultivator or receiver of rent-in-kind of the

produce raised or received by him, in respect of which no process

has been performed other than a process of the nature described in

LWHPii);

c) any income derived from any building owned and occupied by

the receiver of the rent or revenue of any such land, or occupied by the

cultivator or the receiver of rent-in-kind, of any such land with respect

to which, or the produce of which, any process mentioned in

sub-clause b)ii) and iii) is carried on, where such building––

i) is on or in the immediate vicinity of such land and that

land is assessed to land revenue in India, or is subject to a local

rate assessed and collected by officers of the Government as such,

or where the land is not so assessed to land revenue or subject to a

local rate it is not situated in any area as specified in

FODXVH22iii)ARUB); and

ii) is required as a dwelling house, or as a store-house, or

other out-building, by the receiver of the rent or revenue or the

cultivator, or the receiver of rent-in-kind, by reason of his

connection with the land;

d) any income derived from saplings or seedlings grown in a nursery,

but shall not include––

i) the income derived from any building or land referred to in

sub-cODXVH c) arising from the use of such building or land for any

SXUSRVHLQFOXGLQJOHWWLQJIRUUHVLGHQWLDOSXUSRVHRUIRUWKHSXUSRVHRI

any business or profession) other than agriculture falling under

sub-FODXVHaRUb); or

2 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

ii) any income arising from the transfer of any land referred to in

FODXVH22)iiiARUB);

6) “amalgamation”, in relation to companies, means the merger of

one or more companies with another company or the merger of two or more

FRPSDQLHV WR IRUP RQH FRPSDQ\ WKH FRPSDQ\ RU FRPSDQLHV ZKLFK VR

merge being referred to as the amalgamating company or companies and

the company with which they merge or which is formed as a result

of such merger being referred to as the amalgamated company) in such a

manner that—

a) all the property of the amalgamating company or companies

immediately before the amalgamation become the property of the

amalgamated company by virtue of the amalgamation;

b) all the liabilities of the amalgamating company or companies

immediately before the amalgamation become the liabilities of the

amalgamated company by virtue of the amalgamation;

c) the shareholders holding not less than three-fourths in value of

WKHVKDUHVLQWKHDPDOJDPDWLQJFRPSDQ\RUFRPSDQLHVRWKHUWKDQVKDUHV

already held therein immediately before the amalgamation by, or by a

nominee for, the amalgamated company or its subsidiary) become

shareholders of the amalgamated company by virtue of the

amalgamation,

otherwise than as a result of the acquisition of the property of one company by

another company pursuant to the purchase of such property by the other company

or as a result of the distribution of such property to the other company after the

winding up of the first-mentioned company;

7) “annual value”, in relation to any property, means its annual value as

determined under section 21;

8) “Appellate Tribunal” means the Appellate Tribunal constituted

under section 361;

9) “approved gratuity fund” means a gratuity fund, which is approved

and continues to be approved by the approving authority as per Part B of

Schedule XI;

10) “approved superannuation fund” means a superannuation fund or

any part of a superannuation fund, which is approved and continues to be

approved by the approving authority as per Part B of Schedule XI;

11) “assessee” means a person by whom any tax or any other sum of

money is payable under this Act, and includes––

a) every person in respect of whom any proceeding under this Act

has been taken––

i) for the assessment of his income or of the loss sustained

by him or refund due to him; or

ii) for the assessment of the income of any other person in

respect of which he is assessable, or of the loss sustained by such

other person or refund due to such other person;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 3

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

b) every person who is deemed to be an assessee under this Act;

c) every person who is deemed to be an assessee in default under

this Act;

12) “Assessing Officer” means—

a) the Assistant Commissioner or Deputy Commissioner or

Assistant Director or Deputy Director or the Income-tax Officer, who is

vested with the relevant jurisdiction by virtue of directions or orders

issued under section 2411RU2RU3), or any other provision of this

Act; and

b) the Additional Commissioner or Additional Director or Joint

Commissioner or Joint Director, who is directed under section 2415b)

to exercise or perform all or any of the powers and functions conferred

on, or assigned to, an Assessing Officer under this Act;

13) “assessment” includes reassessment and recomputation;

14) “Assistant Commissioner” means a person appointed to be an Assistant

Commissioner of Income-tax or a Deputy Commissioner of Income-tax under

section 2371);

15) “Assistant Director” means a person appointed to be an Assistant

Director of Income-tax or a Deputy Director of Income-tax under section 2371);

16) “average rate of income-tax” means the rate arrived at by dividing

the amount of income-tax calculated on the total income, by such total income;

17) “block of assets” means a group of assets falling within a class of

assets comprising of—

a) tangible assets, being buildings, machinery, plant or furniture;

b) intangible assets, being know-how, patents, copyrights,

trademarks, licences, franchises or any other business or commercial

rights of similar nature, not being goodwill of a business or profession,

in respect of which the same percentage of depreciation is prescribed;

18) “Board” means the Central Board of Direct Taxes constituted under

the Central Boards of Revenue Act, 1963;

19) “books or books of account” includes ledgers, day-books, cash

books, account-books and other books, whether kept––

a) in written form; or

b) in electronic or any digital form, or on cloud based storage, or

on any electromagnetic data storage device, such as floppy, disc, tape,

portable data storage device, external hard drives, or memory cards; or

c) as print-outs of data stored in electronic or digital form or on

storage devices mentioned in sub-FODXVHb);

20) “business” includes any trade, commerce or manufacture or any

adventure or concern in the nature of trade, commerce or manufacture;

4 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

21) “business trust” means a trust registered as—

a) an Infrastructure Investment Trust under the Securities and

([FKDQJH

%RDUG

,QGLD

,QIUDVWUXFWXUH

,QYHVWPHQW

7UXVWV

Regulations, 2014 made under the Securities and Exchange Board of India

Act, 1992; or

b) a Real Estate Investment Trust under the Securities and Exchange

%RDUGRI,QGLD5HDO(VWDWH,QYHVWPHQW7UXVWV5HJXODWLRQVPDGH

under the Securities and Exchange Board of India Act, 1992;

22) “capital asset” means—

a) property of any kind held by an assessee, whether or not

connected with his business or profession;

b) any securities held by—

i) a Foreign Institution Investor which has invested in such

securities in accordance with the regulations made under the

Securities and Exchange Board of India Act, 1992; or

ii) an investment fund specified in section 22410a) which

has invested such securities in accordance with the provisions of

the regulations made under the Securities and Exchange Board of

India Act, 1992 or under the International Financial Services

Centers Authority Act, 2019;

c) any unit linked insurance policy to which exemption under

6FKHGXOH,,7DEOH6O1RGRHVQRWDSSO\

but does not include—

i) any stock-in-trade, other than the securities referred to in

sub-FODXVHb), consumable stores or raw materials held for business or

profession;

ii) personal effects;

iii) agricultural land in India, not being a land situated––

A) in any area comprised within the jurisdiction of a

PXQLFLSDOLW\ ZKHWKHU NQRZQ DV D PXQLFLSDOLW\ PXQLFLSDO

corporation, notified area committee, town area committee, town

committee, or by any other name) or a cantonment board and

which has a population of not less than ten thousand; or

B) in any area within the distance as specified in

column C of the following Table, measured aerially from the

local limits of any municipality or cantonment board referred to in

LWHPA) and having population as referred to in column B of the

said Table:—

Table

Population of municipality or

cantonment board

Within distance, measured

aerially, from local limits of any

municipality or cantonment

board not being more than

More than 10000 and upto 100000

Two kilometres

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 5

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

More than 100000 and upto 10000

Six kilometres

More than 1000000

Eight kilometres;

iv) Gold Deposit Bonds issued under the Gold Deposit

Scheme, 1999 or deposit certificates issued under the Gold Monetisation

Scheme, 2015 as may be notified by the Central Government,

where,––

A) “Foreign Institutional Investor” shall have the meaning

assigned to it in section 2106a);

B) “personal effects” means any movable property (including

wearing apparel and furniture) held for personal use by the assessee or

any family member dependent on him, but excludes––

I) jewellery, which includes––

a) ornaments made of gold, silver, platinum, or any

other precious metal or any alloy of such precious metals,

with or without precious or semi-precious stones, and

whether or not worked or sewn into any wearing apparel; or

b) precious or semi-precious stones, whether or not set

in any furniture, utensil or other article or worked or sewn

into any wearing apparel; or

II) archaeological collections; or

III) drawings; or

IV) paintings; or

V) sculptures; or

VI) any work of art;

C) “population” shall mean the population according to the last

preceding census of which the relevant figures have been published

before the first day of the tax year;

D) “property” includes any rights in or in relation to an Indian

company, including rights of management or control or any other

rights; and

E) “securities” shall have the same meaning as assigned to it in

VHFWLRQhRIWKH6HFXULWLHV&RQWUDFWV5HJXODWLRQ$FW

23) “charitable purpose” includes––

a) relief of the poor;

b) education;

c) yoga;

d) medical relief;

e SUHVHUYDWLRQRI HQYLURQPHQW LQFOXGLQJZDWHUVKHGV IRUHVWV

and wildlife);

f) preservation of monuments or places or objects of artistic or

historic interest;

6 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

g) the advancement of any other object of general public utility;

24) “Chief Commissioner” means a person appointed to be a Chief

Commissioner of Income-tax or a Director General of Income-tax or a

Principal Chief Commissioner of Income-tax or a Principal Director General

of Income-tax under section 2371);

25) “child”, in relation to an individual, includes a step-child and an

adopted child of that individual;

26) “Commissioner” means a person appointed to be a Commissioner

of Income-tax or a Director of Income-tax or a Principal Commissioner of

Income-tax or a Principal Director of Income-tax under section 2371);

27) “Commissioner (Appeals)” means a person appointed to be a

Commissioner of Income-WD[$SSHDOVXQGHUVHFWLRQ 2371);

28) “company” means—

a) any Indian company; or

b) any body corporate incorporated by or under the laws of a

country outside India; or

c) any institution, association or body which is or was assessable

or was assessed as a company under the Income-tax Act, 1961, as it

stood immediately before its repeal by this Act herein referred to as the

Income-tax Act, 1961); or

d) any institution, association or body, whether incorporated or

not and whether Indian or non-Indian, which is declared by order of the

Board to be a company for such period as specified in such declaration;

29) “company in which the public are substantially interested” means—

a) a company owned by the Government or the Reserve Bank of

India or in which at least 40% of the shares of the company are held

LQGLYLGXDOO\RUFROOHFWLYHO\E\WKH*RYHUQPHQWRUWKe Reserve Bank of

India or a corporation owned by that bank; or

b) a company which is registered under section 8 of the

Companies Act, 2013; or

c) a company having no share capital and if, having regard to its

objects, the nature and composition of its membership and other relevant

considerations, the Board by order declares it to be such a company for

the period as specified in the declaration; or

d) a mutual benefit finance company, that is to say, a company

which carries on, as its principal business, the business of acceptance of

deposits from its members and which is declared by the Central

Government under section 406 of the Companies Act, 2013, to be a

Nidhi or Mutual Benefit Society; or

e DFRPSDQ\ZKHUHLQVKDUHVH[FOXGLQJthose entitled to a fixed

rate of dividend, with or without a further right to participate in profits)

carrying not less than 50% of the voting power, have been

unconditionally, allotted to or acquired by, and were beneficially held

throughout the relevant tax year by, one or more co-operative societies; or

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 7

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

f) a company which is not a private company as defined in the

Companies Act, 2013, and either of the following conditions is

fulfilled:—

i VKDUHVLQWKHFRPSDQ\QRWEHLQJVKDUHVHQWLWOHGWRDIL[HG

rate of dividend, with or without a further right to participate in

profits) were, as on the last day of the relevant tax year, listed in a

recognised stock exchange in India as per the Securities Contracts

5HJXODWLRQ$FWDQGDQ\UXOHVPDGHWKHUHXQGHU

ii VKDUHVLQWKHFRPSDQ\QRWEHLQJWKRVHHQWLWOHGWRDIL[HG

rate of dividend, with or without a further right to participate in

profits) carrying not less than 50% of the voting power, have been

unconditionally, allotted to or acquired by, and were beneficially

held throughout the relevant tax year by––

A) the Government; or

B) a corporation established by a Central Act or State Act

or Provincial Act; or

C) any company to which this clause applies or any

subsidiary company of such company, if the entire share

capital of such subsidiary company has been held by the

parent company or by its nominees throughout the tax year,

so, however, that in respect of an Indian company whose business

consists mainly in the construction of ships or in the manufacture

or processing of goods or in mining or in the generation or

distribution of electricity or any other form of power, the

expression “not less than 50%” shall be read as if the expression

“not less than 40%” had been substituted;

30) “convertible foreign exchange” means foreign exchange which is

treated by the Reserve Bank of India as convertible foreign exchange for the

purposes of the Foreign Exchange Management Act, 1999, and any rules made

thereunder or any other corresponding law;

31) “co-operative bank” shall have the same meaning as specified in

Part V of the Banking Regulation Act, 1949;

32) “co-operative society” means a co-operative society registered

under the Co-operative Societies Act, 1912, or under any other law in force in

any State or Union territory for the registration of co-operative societies;

33) “currency” shall have the same meaning as assigned to it in

VHFWLRQh) of the Foreign Exchange Management Act, 1999;

34) “demerged company” means the company whose undertaking is

transferred, pursuant to a demerger, to a resulting company;

35) “demerger”, in relation to companies, means the transfer, pursuant

to a scheme of arrangement under sections 230 to 232 of the Companies

Act, 2013, by a demerged company of its one or more undertakings to any

resulting company in such a manner that—

42 of

8 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

a) all the property of the undertaking, being transferred by the

demerged company, immediately before the demerger, becomes the

property of the resulting company by virtue of the demerger;

b) all the liabilities relatable to the undertaking, being transferred

by the demerged company, immediately before the demerger, become

the liabilities of the resulting company by virtue of the demerger;

c) the property and the liabilities of the undertaking or

undertakings being transferred by the demerged company are transferred

at values appearing in its books of account immediately before the

demerger, except in compliance to the Indian Accounting Standards

VSHFLILHGLQ$QQH[XUHWRWKH&RPSDQLHV,QGLDQ$FFRXQWLQJ6WDQGDUGV

Rules, 2015 made under the Companies Act, 2013;

d) the resulting company issues, in consideration of the demerger,

its shares to the shareholders of the demerged company on a

proportionate basis, except where the resulting company itself is a

shareholder of the demerged company;

e) the shareholders holding not less than three-fourths in value of

WKH VKDUHV LQ WKHGHPHUJHG FRPSDQ\ RWKHU WKDQ VKDUHV DOUHDG\ KHOG

therein immediately before the demerger, or by a nominee for, the

resulting company or, its subsidiary) become shareholders of the

resulting company or companies by virtue of the demerger, otherwise

than as a result of the acquisition of the property or assets of the

demerged company or any undertaking thereof by the resulting

company;

f) the transfer of the undertaking is on a going concern basis; and

g) the demerger is as per the conditions, if any, notified under

section 1167) by the Central Government,

where,––

i) “undertaking” shall include any part of an undertaking, or a unit or

division of an undertaking or a business activity taken as a whole, but does not

include individual assets or liabilities or any combination thereof not

constituting a business activity;

ii) “liabilities relatable to the undertaking”, referred to in sub-FODXVHb), shall

include—

A) the liabilities which arise out of the activities or operations of

the undertaking;

B WKHVSHFLILFORDQVRUERUURZLQJVLQFOXGLQJGHEHQWXUHVUDLVHG

incurred and utilised solely for the activities or operations of the

undertaking; and

C) the amount “N”, being the amount of general or multipurpose

borrowings of the undertaking, as computed below, in cases other than

WKRVHUHIHUUHGWRLQLWHPARUB),––

ൌšሺ

^ሻ

where,––

K = the amount of general or multipurpose

borrowings of the demerged company;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 9

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

L = the value of the assets transferred in a

demerger; and

M = the total value of the assets of such demerged

company immediately before the demerger;

iii) any change in the value of assets consequent to their revaluation

shall be ignored for determining the value of the property referred to in sub-

FODXVHc);

iv) the splitting up or the reconstruction of any authority or a body

constituted or established under a Central Act or State Act or Provincial Act,

or a local authority or a public sector company, into separate authorities or

bodies or local authorities or companies, as the case may be, shall be deemed

to be a demerger if it fulfils such conditions as the Central Government may,

by notification, specify;

v) the reconstruction or splitting up of a company, which ceased to be a

public sector company as a result of transfer of its shares by the Central

Government, into separate companies, shall be deemed to be a demerger, if it

has been made to give effect to any condition attached to the said transfer of

shares and also fulfils such other conditions as the Central Government may,

by notification, specify;

vi) the reconstruction or splitting up of a public sector company into

separate companies shall be deemed to be a demerger, if it has been made to

transfer any asset of the demerged company to the resulting company and the

resulting company—

A) is a public sector company on the appointed day indicated in

such scheme approved by the Central Government or any other body

authorised under the Companies Act, 2013 or any other applicable law

governing such public sector companies; and

B) fulfils such other conditions as the Central Government may,

by notification, specify in this behalf;

36) “Deputy Commissioner” means a person appointed to be a Deputy

Commissioner of Income-tax under section 2371);

37) “Deputy Director” means a person appointed to be a Deputy

Director of Income-tax under section 2371);

38) “director” and “manager”, in relation to a company, shall have the

VDPHPHDQLQJVDVUHVSHFWLYHO\DVVLJQHGWRWKHPLQVHFWLRQ34DQG53) of

the Companies Act, 2013;

39) “Director General or Director” means a person appointed to be a

Director General of Income-tax or a Director of Income-tax, under

section 2371), and includes a Principal Director General or a Principal

Director or an Additional Director or a Joint Director or a Deputy Director or

an Assistant Director;

40) “dividend” includes—

a) any distribution by a company of accumulated profits, whether

capitalised or not, if such distribution entails the release by the company

to its shareholders of all or any part of the assets of the company;

18 of 2013

10 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

b) any distribution to its shareholders by a company of debentures,

debenture-stock, or deposit certificates in any form, with or without

interest, and any distribution to its preference shareholders of shares by

way of bonus, to the extent to which the company possesses accumulated

profits, whether capitalised or not;

c) any distribution made to the shareholders of a company on its

liquidation, to the extent to which the distribution is attributable to the

accumulated profits of the company immediately before its liquidation,

whether capitalised or not;

d) any distribution to its shareholders by a company on the

reduction of its capital, to the extent to which the company possesses

accumulated profits, whether capitalised or not;

e) any payment by a company, not being a company in which the

public are substanWLDOO\LQWHUHVWHGRIDQ\VXPZKHWKHUDVUHSUHVHQWLQJ

a part of the assets of the company or otherwise),––

i) as an advance or loan to a shareholder, being a person who

LVWKHEHQHILFLDORZQHURIVKDUHVQRWEHLQJVKDUHVHQWLWOHGWRD

fixed rate of dividend, with or without a right to participate in

profits) holding not less than 10% of the voting power; or

ii) as an advance or loan to any concern in which such

shareholder is a member or a partner and in which he has a

VXEVWDQWLDOLQWHUHVWKHUHLQUHIHUUHGWRDVWKHsaid concern); or

iii) made on behalf, or for the individual benefit, of any such

shareholder,

to the extent to which the company in either case possesses accumulated

profits;

f) any payment by a company on purchase of its own shares from

a shareholder as per section 68 of the Companies Act, 2013,

but does not include—

i) a distribution made under sub-FODXVHcRUd) in respect of any share

issued for full cash consideration, where the holder of the share is not entitled

in the event of liquidation to participate in the surplus assets;

ii) any advance or loan made to a shareholder or the said concern by a

company in the ordinary course of its business, where the lending of money is

a substantial part of the business of the company;

iii) any dividend paid by a company which is set off by the company

against the whole or any part of any sum previously paid by it and treated as a

dividend within the meaning of sub-FODXVHe), to the extent to which it is so

set off;

iv) any distribution of shares pursuant to a demerger by the resulting

company to the shareholders of the demerged company ZKHWKHURUQRWWKHUH

is a reduction of capital in the demerged company);

v) any advance or loan between two group entities, where,––

A) one of the group entity is a “Finance Company” or a “Finance

Unit”; and

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 11

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

B) the parent entity or principal entity of such group is listed on

stock exchange in a country or territory outside India other than the

country or territory outside India as specified by the Board in this behalf,

where,––

A) “accumulated profits” for the purposes of––

I) sub-FODXVHVabdDQGe), shall include all profits of the

company up to the date of distribution or payment referred to in those sub-

clauses;

II) sub-FODXVHc), shall include all profits of the company up to

the date of liquidation, but shall not, where the liquidation is consequent

on the compulsory acquisition of its undertaking by the Government or

a corporation owned or controlled by the Government under any law in

force, include any profits of the company before three successive tax

years immediately preceding the tax year in which such acquisition took

place;

B) in respect of an amalgamated company, the accumulated profits,

whether capitalised or not, or loss, as the case may be, shall be increased by

the accumulated profits, whether capitalised or not, of the amalgamating

company on the date of amalgamation;

C) “concern” means a Hindu undivided family or a firm or an

association of persons or a body of individuals or a company;

D) a person shall be deemed to have a substantial interest in a concern,

other than a company, if he is, at any time during the tax year, beneficially

entitled to not less than 20% of the income of such concern;

E) for the purposes of sub-FODXVHv),—

I) “Finance Company” and “Finance Unit” shall have the same

PHDQLQJDVUHVSHFWLYHO\DVVLJQHGWRWKHPLQUHJXODWLRQ1eDQGf) of

WKH ,QWHUQDWLRQDO )LQDQFLDO 6HUYLFHV &HQWUHV $XWKRULW\ )LQDQFH

Company) Regulations, 2021 made under the International Financial

Services Centres Authority Act, 2019, and is set up as a global or

regional corporate treasury centre for undertaking treasury activities or

treasury services as per the relevant regulations made by the

International Financial Services Centres Authority established under

section 4 of the said Act;

II) “group entity”, “parent entity” and “principal entity” shall be

such entities which satisfy such conditions as may be prescribed in this

behalf;

41) “document” includes an electronic record as defined in VHFWLRQ1)t)

of the Information Technology Act, 2000;

42) “domestic company” means—

i) an Indian company; or

ii)

any other company which has made the prescribed

arrangements within India for the declaration and payment of the

GLYLGHQGVLQFOXGLQJGLYLGHQGVRQSUHIHrence shares) payable out of its

income liable to tax under this Act;

12 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

9 of

43) “electoral trust” means a trust so approved by the Board as per the

scheme made by the Central Government;

44) “fair market value”, in relation to a capital asset, means—

a) the price that the capital asset would ordinarily fetch on sale in

the open market on the relevant date; and

b) where the price referred to in sub-FODXVH a) is not

ascertainable, such price as determined in the manner, as may be

prescribed;

45) “firm” shall have the same meaning as assigned to it in section 4 of

the Indian Partnership Act, 1932, and shall include a “limited liability

partnership” as defined LQVHFWLRQ1n) of the Limited Liability Partnership

Act, 2008;

46) “foreign company” means a company which is not a domestic

company;

47) “foreign currency” shall have the same meaning as assigned to it in

section 2m) of the Foreign Exchange Management Act, 1999;

48) “hearing” includes communication of data and documents through

electronic mode;

49) “income” includes—

a) profits and gains;

b) dividend;

c) voluntary contributions received by––

i) a registered non-profit organisation; or

ii DQDVVRFLDWLRQUHIHUUHGWRLQ6FKHGXOH,,,7DEOH6O1RRU

iii) any University or other educational institution or any

hospital or other institution referred to in Schedule

VII

7DEOH6O1RRU

iv) an electoral trust;

d) the value of any perquisite or profit in lieu of salary taxable

under sections 17 and 18;

e) any special allowance or benefit, other than perquisite included

under sub-FODXVH d), specifically granted to the assessee to meet

expenses wholly, necessarily and exclusively for the performance of the

duties of an office or employment of profit;

f) any allowance granted to the assessee either to meet his personal

expenses at the place where the duties of his office or employment of

profit are ordinarily performed by him or at a place where he ordinarily

resides or to compensate him for the increased cost of living;

g) the value of any benefit or perquisite, whether convertible into

money or not, obtained from a company, either by a director or by a

person who has a substantial interest in the company, or by a relative of

the director or such person, and any sum paid by any such company in

respect of any obligation which, but for such payment, would have been

payable by the director or that person;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 13

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

h) the value of any benefit or perquisite, whether convertible into

money or not, obtained by any representative assessee mentioned in

section 3031cRUd) or by any person on whose behalf or for whose

EHQHILWDQ\LQFRPHLVUHFHLYDEOHE\WKHUHSUHVHQWDWLYHDVVHVVHHVXFK

person being herein referred to as the beneficiary), and any sum paid by

the representative assessee in respect of any obligation which, but for

such payment, would have been payable by the beneficiary;

i) any sum chargeable to income-tax under—

A) section 2bRUcRUd) or section 38 or 95;

B) section 2eRUg);

j) the value of any benefit or perquisite taxable under

section 2f);

k) any capital gains chargeable under section 67;

l) the profits and gains of any business of insurance carried on by

a mutual insurance company or by a co-operative society, computed as

per section 55 or any surplus taken to be such profits and gains as per

Schedule XIV;

m WKHSURILWVDQGJDLQVRIDQ\EXVLQHVVRIEDQNLQJLQFOXGLQJ

providing credit facilities) carried on by a co-operative society with its

members;

n) any winnings from lotteries, crossword puzzles, races including

horse races, card games and other games of any sort or from gambling

or betting of any form or nature;

o) any sum received by the assessee from his employees as

contributions to any provident fund or superannuation fund or any fund

set up under the provisions of the Employees’ State Insurance Act, 1948,

or any other fund for the welfare of such employees;

p) any sum received under a Keyman insurance policy including

the sum allocated by way of bonus on such policy;

q) any sum referred to in section 2h);

r) the fair market value of inventory referred to in section 2j);

s) any sum referred to in section 922kRUl);

t) any sum of money referred to in section 922h);

u) any sum of money or value of property referred to in

section 922m);

any compensation or other payment referred to in

section 922j);

w) assistance in the form of a subsidy or grant or cash incentive

or duty GUDZEDFN RU ZDLYHU RU FRQFHVVLRQ RU UHLPEXUVHPHQW by

whatever name called) by the Central Government or a State

Government or any authority or body or agency, in cash or kind, to the

assessee other than—

i) the subsidy or grant or reimbursement which is taken into

account for determination of the actual cost of the asset as per

VHFWLRQ1dDQG3); or

14 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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ii) the subsidy or grant by the Central Government for the

purpose of the corpus of a trust or institution established by the

Central Government or a State Government,

where,––

A) “card game and other game of any sort” includes any game show, an

entertainment programme on television or electronic mode, in which people

compete to win prizes or any other similar game;

B) “Keyman insurance policy” shall have the meaning assigned to it in

Schedule II Note 1);

C) “lottery” includes winnings from prizes awarded to any person by

draw of lots or by chance or in any other manner, under any scheme or

arrangement, called by any name;

50) “Income Computation and Disclosure Standards” means such

standards as may be notified under section 2762);

51) “Income-tax Officer” means a person appointed to be an Income-tax

Officer under section 2371);

52) “India” means the territory of India as referred to in article 1 of the

Constitution, its territorial waters, seabed and sub-soil underlying such waters,

continental shelf, exclusive economic zone or any other maritime zone as

referred to in the Territorial Waters, Continental Shelf, Exclusive Economic

Zone and Other Maritime Zones Act, 1976, and the air space above its territory

and territorial waters;

53) “Indian company” means a company formed and registered under

the Companies Act, 2013 and includes––

a) company formed and registered under any law relating to

companies formerly or currently in force in any part of India; or

b) corporation established by or under a Central Act or State Act

or Provincial Act; or

c) institution or association or body which is declared by the

%RDUGWREHDFRPSDQ\XQGHUFODXVH28),

the registered or principal office of which is in India;

54) “Indian currency” shall have the same meaning as assigned to it in

VHFWLRQq) of the Foreign Exchange Management Act, 1999;

55) “infrastructure capital company” means a company which makes

investments by acquiring shares or providing long-term finance to––

a) any enterprise or undertaking wholly engaged in the business

referred to in section 80-,$4) or 80-,$%1) of the Income-tax

Act, 1961; or

b) an undertaking developing and building––

i) a housing project referred to in section 80-,%10) of the

Income-tax Act, 1961; or

ii) a project for constructing a hotel of not less than three star

category as classified by the Central Government; or

iii) a project for constructing a hospital with at least one

hundred beds for patients;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 15

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

56) “infrastructure capital fund” means a fund operating under a trust

deed registered under the Registration Act, 1908 established to raise moneys

by the trustees for investment by acquiring shares or providing long-term

finance to enterprises or undertakinJVUHIHUUHGWRLQFODXVH55);

57) “Inspector of Income-tax” means a person appointed to be an

Inspector of Income-tax under section 2371);

58) “insurer” means an insurer, being an Indian insurance company, as

GHILQHG XQGHU VHFWLRQ 7A) of the Insurance Act, 1938, which has been

granted a certificate of registration under section 3 of that Act;

59) “interest” means interest payable in any manner for moneys

ERUURZHGRUGHEWLQFXUUHGLQFOXGLQJDGHSRVLWFODLPRURWKHUVLPLODUULJKW

or obligation) and includes service fee or any other charges for the moneys

borrowed or debt incurred or for any credit facility that has not been utilised;

60) “interest on securities” means—

a) interest on any security of the Central Government or a State

Government;

b) interest on debentures or other securities for money issued by

or on behalf of a local authority or a company or a corporation

established by a Central Act or State Act or Provincial Act;

61) “International Financial Services Centre” shall have the same meaning

as assigned to it LQVHFWLRQq) of the Special Economic Zones Act, 2005;

62) “Joint Commissioner” means a person appointed to be a Joint

Commissioner of Income-tax or an Additional Commissioner of Income-tax

under section 2371);

63) “Joint Commissioner (Appeals)” means a person appointed to be a

Joint Commissioner of Income-WD[$SSHDOVRUDQ$GGLWLRQDO&RPPLVVLRQHU

of Income-WD[$SSHDOVXQGHUVHFWLRQ2371);

64) “Joint Director” means a person appointed to be a Joint Director of

Income-tax or an Additional Director of Income-tax under section 2371);

65) “legal representative” shall have the same meaning as assigned to it

LQVHFWLRQ11) of the Code of Civil Procedure,1908;

66) “liable to tax”, in relation to a person and with reference to a

country, means that there is an income-tax liability on such person under

the law of that country for the time being in force and shall include a person

who has subsequently been exempted from such liability under the law of

that country;

67) “long-term capital asset” means a capital asset which is not a

short-term capital asset;

68) “long-term capital gain” means capital gains arising from the

transfer of a long-term capital asset;

69) “manufacture”, with its grammatical variations and cognate

expressions, means a change in a non-living physical object or article or thing—

28 of

16 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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a) resulting in transformation of the object or article or thing into

a new and distinct object or article or thing having a different name,

character and use; or

b) bringing into existence of a new and distinct object or article or

thing with a different chemical composition or integral structure;

70) “maximum marginal rate” means the rate of income-WD[LQFOXGLQJ

surcharge on income-tax) applicable in relation to the highest slab of income

for an individual, association of persons or, as the case may be, body of

individuals, as specified in the Finance Act of the relevant year;

71) “non-banking financial company” shall have the same meaning as

assigned to it in section 45-,f) of the Reserve Bank of India Act, 1934;

72) “non-resident” means a person who is not a “resident”, and for the

purposes of sections 161, 174 and 312, includes a person who is not ordinarily

resident as per section 13);

73) “notification” means a notification published in the Official Gazette

and the expression “notify” with its grammatical variations and cognate

expressions shall be construed accordingly;

74) “partner” shall have the same meaning as assigned to it in section 4

of the Indian Partnership Act, 1932, and shall include—

a) any person who, being a minor, has been admitted to the

benefits of partnership; and

b) a partner of a limited liability partnership as defined in

VHFWLRQ1q) of the Limited Liability Partnership Act, 2008;

75) “partnership” shall have the same meaning as assigned to it in

section 4 of the Indian Partnership Act, 1932, and shall include a “limited

liability partnership” as defined in section 2(1n) of the Limited Liability

Partnership Act, 2008;

76) “Permanent Account Number (PAN)” means a unique number

consisting of ten alphanumeric characters, allotted by the Assessing Officer to

a person for the purpose of identification under this Act, and includes a

Permanent Account Number allotted under the new series;

77) “person” includes—

a) an individual;

b) a Hindu undivided family;

c) a company;

d) a firm;

e) an association of persons or a body of individuals, whether

incorporated or not;

f) a local authority; and

g) every artificial juridical person, not falling within any of the

preceding sub-clauses,

whether or not such an association of persons or a body of individuals or a

local authority or an artificial juridical person was formed or established or

incorporated with the object of deriving income, profits, or gains;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 17

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

78) “person of Indian origin” means an individual who or either of his

parents or any of his grand-parents, was born in undivided India;

79) “person who has a substantial interest in the company”, in relation

to a company means a person who is the beneficial owner of shares, not being

shares entitled to a fixed rate of dividend, whether with or without a right to

participate in profits, carrying not less than 20% of the voting power;

80) “prescribed” means prescribed by rules made under this Act;

81) “Principal Chief Commissioner” means a person appointed to be a

Principal Chief Commissioner of Income-tax under section 2371);

82) “Principal Commissioner” means a person appointed to be a

Principal Commissioner of Income-tax under section 2371);

83) “Principal Director” means a person appointed to be a Principal

Director of Income-tax under section 2371);

84) “Principal Director General” means a person appointed to be a

Principal Director General of Income-tax under section 2371);

85) “principal officer”, with reference to a local authority or a company

or any other public body or any association of persons or any body of

individuals, means—

a) the secretary, treasurer, manager or agent of the authority,

company, association or body; or

b) any person connected with the management or administration

of the local authority, company, association or body upon whom the

Assessing Officer has served a notice of his intention of treating him as

the principal officer thereof;

86) “profession” includes vocation;

87) “public sector bank” means the State Bank of India constituted

under the State Bank of India Act, 1955, a corresponding new bank constituted

XQGHU VHFWLRQ RI WKH %DQNLQJ &RPSDQLHV $FTXLVLWLRQ DQG 7UDQVIHU RI

Undertakings) Act, 1970, or under section 3 of the Banking Companies

$FTXLVLWLRQDQG7UDQVIHURI8QGHUWDNLQJV$FWDQGDEDQNLQFOXGHGLQ

the category “other public sector banks” by the Reserve Bank of India;

88) “public sector company” means any corporation established by or

under any Central Act or State Act or Provincial Act or a Government

FRPSDQ\DVGHILQHGLQVHFWLRQ45) of the Companies Act, 2013;

89) “public servant” shall have the same meaning as assigned to it in

VHFWLRQ28) of the Bharatiya Nyaya Sanhita, 2023;

90) “rate or rates in force” or “rates in force”, in relation to a tax year,

for the purposes of––

ai) computing the income-tax chargeable under section 3165)

or 3172) or 319 or 3202); or

ii) deducting income-tax under section 3921WR6) from income

chargeable under the head “Salaries”; or

18 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

iii) computing the advance tax payable under Chapter XIX-C in a

case not falling under section 207 or 1941) 7DEOH 6O 1R

or 19417DEOH6O1RRU4 or 307 or 308 or 311; or

iv) deducting tax under section 3931) >7DEOH 6O 1R i@

>7DEOH6O1Ri@>7DEOH6O1Rii@>7DEOH6O1Riii@DQG

7DEOH6O1RRULQVHFWLRQ337DEOH6O1R7DEOH6O1R

DQG7DEOH6O1R

means the rate or rates of income-tax specified in this behalf in the Finance

Act of the relevant year;

b) computing the advance tax payable under Chapter XIX-C in a case

falling under section 207 or 1941) 7DEOH6O1RRU41) 7DEOH6O1R

6) or 214 or 307 or 308 or 311 the rate or rates specified in the said respective

section, or the rate or rates of income-tax specified in this behalf in the Finance

Act of the relevant tax year, whichever is applicable;

c) deducting tax under section 3932) 7DEOH6O1R 7DEOH6O 1R

7DEOH6O1R7DEOH6O1RDQG7DEOH6O1RWKHUDWHRU

rates of income-tax specified in this behalf in the Finance Act of the relevant

tax year or the rate or rates of income-tax specified in an agreement entered

into by the Central Government under section 1591), or an agreement notified

by the Central Government under section 1592), whichever is applicable;

91) “recognised provident fund” means a provident fund which has

been and continues to be recognised by the approving authority as per Part A

of the Schedule XI, and includes a provident fund established under a scheme

framed under the Employees’ Provident Funds and Miscellaneous Provisions

Act, 1952;

92) “recognised stock exchange” means a recognised stock exchange as

referred to in section f) of the 6HFXULWLHV&RQWUDFWV5HJXODWLRQ$FW

and which fulfils such conditions, as may be prescribed, and notified by the

Central Government for this purpose;

93)

“regular assessment” means the assessment made under

section 27010) or 271;

94) “relative”, in relation to an individual, means the husband, wife,

EURWKHU VLVWHU RU DQ\ OLQHDO DVFHQGDQW PDWHUQDO DV ZHOO DV SDWHUQDO RU

descendant of that individual;

95) “Reserve Bank of India” means the Bank constituted under

section 31) of the Reserve Bank of India Act, 1934;

96) “resident” means a person who is resident in India as per section 6;

97) “resulting company” means one or more companies (including a

wholly owned subsidiary thereof) to which the undertaking of the demerged

company is transferred in a demerger and, the resulting company in

consideration of such transfer of undertaking, issues shares to the shareholders

of the demerged company and includes any authority or body or local authority

or public sector company or a company established, constituted or formed as

a result of demerger;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 19

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

98) “scheduled bank” shall have the same meaning as assigned to it in

section e) of the Reserve Bank of India Act, 1934;

99) “Securities and Exchange Board of India” shall have the same

PHDQLQJDVDVVLJQHGWRLWLQVHFWLRQ1a) of the Securities and Exchange

Board of India Act, 1992;

100) “senior citizen” means an individual resident in India who is of the

age of sixty years or more at any time during the relevant tax year;

101a) “short-term capital asset” means a capital asset held by an

assessee for not more than twenty-four months immediately preceding the date

of its transfer; and

b) where the capital asset is a––

i) security listed in a recognised stock exchange in India; or

ii) unit of the Unit Trust of India; or

iii) unit of an equity-oriented fund; or

iv) zero-coupon bond,

the provisions of sub-FODXVH a) shall have effect, as if for the words

“twenty-four months”, the words “twelve months” had been substituted; and

c) in determining the period for which capital asset is held by the

assessee,—

A) in the case of a share held in a company in liquidation, there

shall be excluded the period subsequent to the date on which the

company goes into liquidation;

B) there shall be included the period for which––

I) the asset was held by the previous owner referred to in

section 7317DEOH6O1RIRUDFDSLWDODVVHWZKLFKEHFRPHV

the property of the assessee in the circumstances mentioned in the

said section;

II) the share or shares in the amalgamating company were

held by the assessee, for a capital asset being a share or shares in

an Indian company, which becomes the property of the assessee in

consideration of a transfer referred to in section 701f);

III) the share or shares held in the demerged company were

held by the assessee, for a capital asset being a share or shares in

an Indian company, which becomes the property of the assessee in

consideration of a demerger;

IV) the person was a member of a recognised stock

exchange in India immediately before its demutualisation or

corporatisation, for a capital asset, being trading or clearing rights

of that recognised stock exchange, acquired by a person pursuant

to such demutualisation or corporatisation of that recognised stock

exchange;

V) the person was a member of a recognised stock exchange

in India immediately before its demutualisation or corporatisation,

for a capital asset being equity share or shares in a company

allotted pursuant to such demutualisation or corporatisation of that

recognised stock exchange;

VI) the share or shares were held by the assessee, for a

capital asset being a unit of a business trust, allotted pursuant to

transfer of share or shares as referred to in section 701zi);

20 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

VII) the unit or units in the consolidating scheme of a mutual

fund were held by the assessee, for a capital asset being a unit or units,

which becomes the property of the assessee in consideration of a

transfer referred to in section 701zj);

VIII) the preference shares were held by the assessee, for a

capital asset being equity shares in a company, which becomes the

property of the assessee in consideration of a transfer referred to in

section 701zb);

IX) the unit or units in the consolidating plan of a mutual fund

scheme were held by the assessee, for a capital asset being a unit or

units, which becomes the property of the assessee in consideration of

a transfer referred to in section 701zk);

X) the original unit or units in the main portfolio were held by the

assessee, for a capital asset being a unit or units in a segregated portfolio

referred to in section 7317DEOH6O1R

XI) gold was held by the assessee before conversion into the

Electronic Gold Receipt, for a capital asset being Electronic Gold

Receipt issued in respect of such gold deposited as referred to in

section 701y);

XII) Electronic Gold Receipt was held by the assessee

before its conversion into gold for a capital asset being gold

released in respect of such Electronic Gold Receipt as referred to

in section 701y);

C) there shall be reckoned, the period from––

I) the date of its conversion or treatment, for a capital asset

UHIHUUHGWRLQVHFWLRQ2j);

II) the date of allotment of a share or any other security

KHUHLQUHIHUUHGWRDVWKHILQDQFLDODVVHWIRUDFDSLWDODVVHWEHLQJ

such financial asset subscribed to by the assessee on the basis of

his right to subscribe to such financial asset or subscribed to by the

person in whose favour the assessee has renounced his right to

subscribe to such financial asset;

III) the date of the offer of the right to subscribe to any

financial asset which is renounced in favour of any other person

by the company or institution, as the case may be, making such

offer, for a capital asset, being such right;

IV) the date of the allotment of a financial asset allotted without

any payment and on the basis of holding of any other financial asset,

for a capital asset being such financial asset;

V) the date of allotment or transfer of any specified security or

sweat equity shares allotted or transferred, directly or indirectly, by

the employer free of cost or at concessional rate to his employees

LQFOXGLQJIRUPHUHPSOR\HHRUHPSOR\HHVIRUDFDSLWDODVVHWEHLQJ

such specified security or sweat equity shares;

VI) the date on which a request for the redemption was

made, for a capital asset, being share or shares of a company,

which is acquired by the non-resident assessee on redemption of

Global Depository Receipts referred to in section 20917DEOH6O

1RKHOGE\VXFKDVVHVVHH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 21

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

D) for capital assets other than those mentioned in items A) WRC),

the said period shall be determined in such manner, as may be prescribed,

where,––

A) “equity oriented fund” shall have the meaning assigned to it in

section 1988);

B) “security” shall have the same meaning as assigned to it in

VHFWLRQh) of the Securities &RQWUDFWV5HJXODWLRQ$FW

C) “specified security” means the securities as defined in

VHFWLRQhRIWKH6HFXULWLHV&RQWUDFWV5HJXODWLRQ$FWDQGZKHUH

employees’ stock option has been granted under any plan or scheme

therefor, includes the securities offered under such plan or scheme;

D) “sweat equity shares” means equity shares issued by a

company to its employees or directors at a discount or for consideration

other than cash for providing know-how or making available rights in

the nature of intellectual property rights or value additions, by whatever

name called;

102) “short-term capital gain” means capital gains arising from the

transfer of a short-term capital asset;

103 a) “slump sale” means the transfer of one or more undertaking,

by any means, for a lump sum consideration without values being assigned to

the individual assets and liabilities in such transfer;

b) for the purpose of sub-FODXVHa)—

i) “undertaking” shall have the meaning assigned to it in

FODXVH35i); and

ii) the determination of the value of an asset or liability for the

sole purpose of payment of stamp duty, registration fees or other similar

taxes or fees shall not be regarded as assignment of values to individual

assets or liabilities;

104) “Special Economic Zone” shall have the same meaning as assigned

WRLWLQVHFWLRQza) of the Special Economic Zones Act, 2005;

105) “stamp duty value” means the value adopted or assessed or

assessable by any authority of the Central Government or State Government

for the payment of stamp duty in respect of an immovable property, where the

expression “assessable” shall mean the value which any authority of that

Government would have adopted or assessed as if it were referred to such

authority for the purposes of payment of stamp duty, irrespective of anything

to the contrary contained in any other law in force;

106) “tax” means income-tax chargeable under this Act;

107) “Tax Recovery Officer” means an Income-tax Officer authorised

in writing by the Principal Chief Commissioner or Chief Commissioner or

Principal Commissioner or Commissioner, to exercise––

a) the powers of a Tax Recovery Officer; and

b) the powers and functions conferred on, or assigned to, an

Assessing Officer under this Act, and as may be prescribed;

108) “total income” means the total amount of income referred to in

section 5, computed in the manner as laid down in this Act;

109) “transfer” in relation to a capital asset, includes—

a) the sale, exchange or relinquishment of the asset; or

42 of

22 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) the extinguishment of any rights therein; or

c) the compulsory acquisition thereof under any law in force; or

d) where the asset is converted by the owner into, or is treated by him

as, stock-in-trade of a business carried on by him, such conversion or

treatment; or

e) the maturity or redemption of a zero coupon bond; or

f DQ\WUDQVDFWLRQZKHWKHUE\ZD\RIEHFRPLQJDPHPEHURIRU

acquiring shares in, a co-operative society, company or other association

of persons or by way of any agreement or any arrangement or in any

other manner) which has the effect of transferring, or enabling the

enjoyment of, any immovable property; or

g) any transaction involving the allowing of the possession of any

immovable property to be taken or retained in part performance of a

contract of the nature referred to in section 53A of the Transfer of

Property Act, 1882; or

h) disposing of, or parting with, an asset or any interest therein, or

creating any interest in any asset in any manner, directly or indirectly,

absolutely or conditionally, voluntarily or involuntarily, by way of an

DJUHHPHQWZKHWKHUHQWHUHGLQWRLQ,QGLDRURXWVLGH,QGLDRURWKHUZLVH

irrespective of whether such transfer of rights has been characterised as

being effected or dependent upon or flowing from the transfer of a share

or shares of a company registered or incorporated outside India,

where, the expression “immovable property” means—

i) any land or any building or part of a building, and includes, where any land

or any building or part of a building is to be transferred together with any machinery,

plant, furniture, fittings or other things, such machinery, plant, furniture, fittings or

other things also, such that the land, building, part of a building, machinery, plant,

furniture, fittings and other things include any rights therein;

ii) any rights in or with respect to any land or any building or a part of a

EXLOGLQJZKHWKHURUQRWLQFOXGLQJDQ\PDFKLQHU\SODQWIXUQLWXUHILWWLQJVRURWKHU

things therein), which has been constructed or which is to be constructed, accruing

or arising from DQ\WUDQVDFWLRQZKHWKHUE\ZD\RIEHFRPLQJDPHPEHURIRU

acquiring shares in, a co-operative society, company or other association of

persons or by way of any agreement or any arrangement of whatever nature), not

being a transaction by way of sale, exchange or lease of such land, building or part

of a building;

110) “Valuation Officer” means a person appointed by the Central

Government as a Valuation Officer who shall exercise powers as specified in

section 2693), and includes a Regional Valuation Officer, a District Valuation

Officer and an Assistant Valuation Officer;

111) “virtual digital asset” means—

a DQ\LQIRUPDWLRQRUFRGHRUQXPEHURUWRNHQQRWEHLQJ,QGLDQ

currency or foreign currency), generated through cryptographic means

or otherwise, called by any name, providing a digital representation of

value exchanged with or without consideration, with the promise or

representation of having inherent value, or functions as a store of value

or a unit of account including its use in any financial transaction or

investment, but not limited to investment scheme; and can be

transferred, stored or traded electronically;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 23

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Definition of

“tax year”.

Charge of

income-WD[

b) a non-fungible token or any other token of similar nature, by

whatever name called;

c) any other digital asset, as the Central Government may, by

notification, specify;

d) any crypto-asset being a digital representation of value that

relies on a cryptographically secured distributed ledger or a similar

technology to validate and secure transactions, whether or not such asset

is included in sub-FODXVHaRUbRUc),

where,––

i) “non-fungible token” means such digital asset as the Central

Government may, by notification, specify;

ii) the Central Government may, by notification, exclude any digital asset

from this definition, subject to such conditions as specified therein;

112) “zero coupon bond” means a bond—

a) issued by any infrastructure capital company or infrastructure

capital fund or infrastructure debt fund or public sector company or

scheduled bank on or after the 1st June, 2005;

b) for which no payment and benefit is received or receivable

before maturity or redemption from infrastructure capital company or

infrastructure capital fund or infrastructure debt fund or public sector

company or scheduled bank; and

c) which the Central Government may, by notification, specify,

where, the expression “infrastructure debt fund” means the infrastructure debt

fund

notified

the

Central

Government

under

Schedule

VII

7DEOH6O1R

3 1) For the purposes of this Act, “tax year” means the twelve months period

RIWKHILQDQFLDO\HDUFRPPHQFLQJRQWKHVW$SULO

2) In the case of a business or profession newly set up, or a source of income

newly coming into existence in any financial year, the tax year shall be the period

beginning with—

a) the date of setting up of such business or profession; or

b) the date on which such source of income newly comes into

existence,

and HQGLQJZLWKWKHVDLGILQDQFLDO\HDU

CHAPTER II

BASIS OF CHARGE

4 1) Where any Central Act enacts that income-tax shall be charged for any

tax year at any rate or rates, income-tax for such tax year shall be charged at that

rate or those rates LQDFFRUGDQFHZLWKDQGVXEMHFWWRWKHSURYLVLRQVRIWKLV$FW

2) The charge of income-tax under sub-VHFWLRQ1) shall be on the total income

RIWKHWD[\HDURIHYHU\SHUVRQDVSHUWKHSURYLVLRQVRIWKLV$FW

3) Income-tax shall also include any additional income-tax, by whatever

QDPHFDOOHGOHYLHGXQGHUWKLV$FW

4) If this Act provides that income-tax is to be charged in respect of income

RIDSHULRGRWKHUWKDQWKHWD[\HDULWVKDOOEHFKDUJHGDFFRUGLQJO\

5) For the income chargeable under this section, income-tax shall be deducted

or collected at source or paid in advance as provided under WKLV$FW

24 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

5 1) Subject to the provisions of this Act, the total income of any tax year of a

person, who is a resident, includes all income from whatever source derived, which—

a) is received or deemed to be received in India in that year by or on

behalf of such person;

b) accrues or arises, or is deemed to accrue or arise, to such person in

India in that year; or

c) accrues or arises to such person outside India in that year, but when

such person is “not ordinarily resident” in India under section 6(13), such

income shall be included only when it is derived from a business controlled in

RUDSURIHVVLRQVHWXSLQ,QGLD

2) Subject to the provisions of this Act, the total income of a tax year of a person,

who is a non-resident, includes all income from whatever source derived, which––

a) is received or deemed to be received in India in that year by or on

behalf of such person; or

b) accrues or arises, or is deemed to accrue or arise, to such person in

,QGLDLQWKDW\HDU

3) Income accruing or arising outside India shall not be deemed to be received

in India under this section by reason only of the fact that it is taken into account in

a balanFHVKHHWSUHSDUHGLQ,QGLD

4) If an income has been included in a person’s total income on the basis that it––

a) has accrued or arisen; or

b) is deemed to have accrued or arisen,

to such person, it shall not again be included on the basis that it is received or

deemed to be received by that SHUVRQLQ,QGLD

61) For the purposes of this Act,residential status in India in a tax year of a person

shall be determined as per the provisions of this section

2) An individual shall be resident in India in a tax year, if he––

a) is in India for a total period of one hundred and eighty-two days or

more in that tax year; or

b) is in India cumulatively for sixty days or more during that year and

has been in India cumulatively for three hundred and sixty-five days or more

LQWKHIRXU\HDUVSUHFHGLQJVXFKWD[\HDU

3) The provisions of sub-VHFWLRQ 2b) shall not apply in the case of an

individual who is a citizen of India and leaves India in any tax year––

a) as a member of the crew of an Indian ship, as defined in

VHFWLRQ18) of the Merchant Shipping Act, 1958; or

b) for the purposes RIHPSOR\PHQWRXWVLGH,QGLD

4) The provisions of sub-VHFWLRQ2b) shall not apply, subject to the provisions of

sub-VHFWLRQ5), in the case of an individual––

a) who is a citizen of India or a person of Indian origin; and

b ZKREHLQJRXWVLGH,QGLDFRPHVRQDYLVLWWR,QGLDLQDQ\WD[\HDU

5) Where the person referred to in sub-VHFWLRQ 4) has a total income

exceeding fifteen lakh rupees during the tax yearreferred therein RWKHUWKDQWKH

income from foreign sources), sub-VHFWLRQ2b) shall apply as if the words “sixty

days” had been substituted with “one hundred and twenty days”.

6) For the purposes of sub-VHFWLRQ2), if the individual is––

a) a citizen of India; and

b) a member of the crew of a foreign-bound ship leaving India,

the total number of days in India, in respect of that voyage, shall be determined in

such manner and subject to such conditions, as may be SUHVFULEHG

Scope of total

LQFRPH

Residence in

,QGLD

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 25

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

7) Irrespective of the provisions of sub-VHFWLRQV2WR6), an individual

shall be deemed to be resident in India for a tax year, if he––

a) is a citizen of India;

b) is not liable to tax in any other country or territory due to his

domicile, residence, or similar criteria; and

c) has total income exceeding fifteen lakh rupees during such tax year

RWKHUWKDQWKHLQFRPHIURPIRUHLJQVRXUFHV

8) Sub-VHFWLRQ7) shall not apply to an individual, who is resident in India

for a tax year under sub-VHFWLRQV2WR6

9) A Hindu undivided family, firm or other association of persons shall be

resident in India in any tax year unless the control and management of its affairs

LVVLWXDWHGZKROO\RXWVLGH,QGLDGXULQJVXFKWD[\HDU

10a) A company is said to be a said to be a resident in India in any tax

year, if—

i) it is an Indian company; or

ii) its place of effective management is in India in that tax year;

b) for the purposes of this sub-section, “place of effective management”

means a place where key management and commercial decisions necessary for

WKHFRQGXFWRIEXVLQHVVRIWKHFRPSDQ\DVDZKROHDUHLQVXEVWDQFHPDGH

11) Every other person is resident in India in any tax year unless during that

tax year the control and management of the affairs of such person is situated

ZKROO\RXWVLGH,QGLD

12) If a person is resident in India in a tax year for any source of income,

he shall be deemed to be resident in India in that tax year for each of his other

VRXUFHVRILQFRPH

13) A person is not ordinarily resident in India in any tax year, if that

person is—

a) an individual who has been, or a Hindu undivided family, whose

manager has been––

i) a non-resident in India in nine out of the ten tax years

preceding that year; or

ii) in India cumulatively for seven hundred and twenty-nine

days or less in seven tax years preceding that year; or

b) a citizen of India or a person of Indian origin,––

i) whose total income excluding income from foreign sources

exceeds fifteen lakh rupees during the tax year, as mentioned in

sub-section 5); and

ii) who has been in India cumulatively for one hundred and

twenty days or more but less than one hundred and eighty-two

days during the tax year; or

c) a citizen of India who is deemed to be resident in India under

sub-VHFWLRQ7

14) For the purposes of this section, “income from foreign sources” means

WKHLQFRPHZKLFKDFFUXHVRUDULVHVRXWVLGH,QGLDH[FHSWLQFRPHGHULYHGIURPD

business controlled in or a profession set up in India) and which is not deemed to

DFFUXHRUDULVHLQ,QGLD

26 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

7. 1) The following incomes shall be deemed to be received in the tax year:—

a) the annual accretion in that year to the balance at the credit of an

employee participating in a recognised provident fund, to the extent

provided in paragraph 6 of Part A of Schedule XI;

b) the transferred balance in a recognised provident fund, to the extent

SURYLGHGLQSDUDJUDSK4DQG5) of Part A of Schedule XI;

c) the contribution made by the Central Government or any other

employer in that year to the account of an employee under a pension scheme

mentioned in section 124

2) For inclusion in the total income of an assessee,—

a) any dividend declared by a company or distributed or paid by it

ZLWKLQWKHPHDQLQJRIVHFWLRQ40a) to f) shall be deemed to be the

income of the tax year in which it is so declared, distributed or paid, as the

case may be;

b) any interim dividend shall be deemed to be the income of the tax

year in which the amount of such dividend is unconditionally made

available by the company to the PHPEHUZKRLVHQWLWOHGWRLW

8 1) Where a specified person receives during the tax year any capital asset

or stock-in-trade, or both, from a specified entity in connection with the

dissolution or reconstitution of such specified entity, then the specified entity shall

be deemed to have transferred such capital asset or stock-in-trade, or both, to the

specified person in the year in which such capital asset or stock-in-trade, or both,

DUHUHFHLYHGE\WKHVSHFLILHGSHUVRQ

2) Any profits and gains arising from the deemed transfer mentioned in

sub-VHFWLRQ1) by the specified entity shall be—

i) deemed to be the income of such specified entity of the tax year in

which such capital asset or stock-in-trade, or both, were received by the

specified person; and

ii) chargeable to income-tax as income of such specified entity under

the head “Profits and gains of business or profession” or under the head

“Capital gains”.

3) For the purposes of this section, fair market value of the capital asset or

stock-in-trade, or both, on the date of its receipt by the specified person shall be

deemed to be the full value of the consideration received or accruing as a result

of such deemed transfer mentioned in sub-VHFWLRQ1

4) If any difficulty arises in giving effect to the provisions of this section

and section 6710), the Board may, with the previous approval of the Central

Government, LVVXHJXLGHOLQHVIRUUHPRYLQJWKHGLIILFXOW\

5) Every guideline issued by the Board under sub-VHFWLRQ4) shall be laid

before each House of Parliament while it is in session for a total period of thirty

days which may be comprised in one session or in two or more successive

sessions, and if, before the expiry of the session immediately following the session

or the successive sessions aforesaid, both houses agree in making any

modification in such guideline or both Houses agree that the guideline, should not

be issued, the guideline shall thereafter have effect only in such modified form or

be of no effect, as the case may be; so, however, that any such modification or

annulment shall be without prejudice to the validity of anything previously done

XQGHUWKDWJXLGHOLQH

Income deemed

to be received

and dividend

deemed to be

income in a tax

year

Income on

receipt of

capital asset or

stock-in-trade

by specified

person from

specified

HQWLW\

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 27

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Income

deemed to

accrue or arise

LQ,QGLD

6) For the purposes of this section,—

a) “specified entity” means a firm or other association of persons or

ERG\RILQGLYLGXDOVQRWEHLQJDFRPSDQ\RUDFR-operative society);

b) “specified person” means a person, who is a partner of a firm or

PHPEHURIRWKHUDVVRFLDWLRQRISHUVRQVRUERG\RILQGLYLGXDOVQRWEHLQJD

company or a co-operative society) in any tax year;

c) “reconstitution of the specified entity” means, where—

i) one or more of its partners or members, of such specified

entity ceases to be partners or members; or

ii) one or more new partners or members are admitted in such

specified entity in such circumstances that one or more of the persons

who were partners or members, of the specified entity, before the

change, continue as partner or partners or member or members after

the change; or

iii) all the partners or members, of such specified entity

continue with a change in their respective share or in the shares of

VRPHRIWKHP

9. 1) The income referred to in sub-VHFWLRQV2WR8) shall be deemed to

DFFUXHRUDULVHLQ,QGLD

2) The income accruing or arising, directly or indirectly, through or from––

a) any asset or source of income in India; or

b) any property in India; or

c) any business connection in India; or

d) the transfer of a capital asset situated in India,

shall be deemed to accrue or ariVHLQ,QGLD

3) Any income falling under the head “Salaries” shall be deemed to accrue

or arise in India, if it is—

a) earned in India, and any income payable for,—

i) services rendered in India; and

ii) the rest period or leave period which is preceded and

succeeded by services rendered in India and forms part of the service

contract of employment,

shall be regarded as income earned in India;

b) payable by the Government to an Indian citizen for services

UHQGHUHGRXWVLGH,QGLD

4) Any dividend paid by an Indian company outside India shall be deemed

to accrue or arise in India

5a) Income by way of interest payable by––

i) the Government;

ii) a resident, except where it is payable in respect of any debt

incurred, or moneys borrowed and used, for the purpose of—

A) a business or profession carried on by such resident outside

India; or

B) making or earning any income by such resident from any

source outside India; or

iii) a non-resident, if it is in respect of any debt incurred, or moneys

borrowed and used, for the purposes of a business or profession carried on

by such non-resident in India,

28 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

shall be deemed to accrue or arise in India;

b IRUWKHSXUSRVHVRIFODXVHa),––

i) any interest payable by the permanent establishment in India of a

non-resident person engaged in the business of banking, to the head office

or any other permanent establishment or any other part of such non-resident

outside India shall be deemed to accrue or arise in India and shall be

chargeable to tax in addition to any income attributable to such permanent

establishment in India;

ii) such permanent establishment in India shall––

A) be deemed to be a person separate from, and independent of,

the non-resident person of which it is a permanent establishment; and

B) the provisions of this Act relating to computation of total

income, determination of tax and collection and recovery shall apply,

accordingly;

iii) “permanent establishment” shall have the meaning assigned to it

in section 173c

6a) Income by way of royalty payable by––

i) the Government;

ii) a resident, except where the royalty is payable in respect of any right,

property or information used or services utilised for the purposes of—

A) a business or profession carried on by such resident outside

India; or

B) making or earning any income by such resident from any

source outside India; or

iii) a non-resident, if the royalty is payable in respect of any right,

property or information used or services utilised for the purposes of—

A) a business or profession carried on by such non-resident in

India; or

B) making or earning any income by such non-resident from

any source in India,

shall be deemed to accrue or arise in India;

b) in this sub-section, “royalty” means consideration (including any lump

sum consideration but excluding any consideration which would be the income of

the recipient chargeable under the head “Capital gains”) for the following––

i WKHWUDQVIHURUJUDQWRIDOORUDQ\ULJKWVLQFOXGLQJWKHJUDQWLQJRID

licence) in respect of a patent, invention, model, design, secret formula or

process or trade mark or similar property;

ii) the imparting of any information concerning the working of, or the

use of, a patent, invention, model, design, secret formula or process or trade

mark or similar property;

iii) the use of any patent, invention, model, design, secret formula or

process or trade mark or similar property;

iv) the imparting of any information concerning technical, industrial,

commercial or scientific knowledge, experience or skill;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 29

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

v) the use or right to use any industrial, commercial or scientific

equipment except the amounts referred in VHFWLRQ2) 7DEOH6O1R

vi WKHWUDQVIHURUJUDQWRIDOORUDQ\ULJKWVLQFOXGLQJWKHJUDQWLQJRI

a licence) in respect of any copyright, literary, artistic or scientific work

including––

A) films or video tapes for use in connection with television; or

B) tapes for use in connection with radio broadcasting;

vii) the rendering of services in connection with the activities referred

to in sub-FODXVHViWRvi);

c IRUWKHSXUSRVHVRIFODXVHb),––

i) the transfer or grant of all or any rights in respect of any right,

property or information includes transfer or grant of all or any right for use

or right to use D FRPSXWHU VRIWZDUH LQFOXGLQJ JUDQWLQJ RI D OLFHQFH

irrespective of the medium through which that right is transferred;

ii) royalty includes consideration in respect of any right, property or

information, whether or not––

A) the possession or control of that right, property or

information is with the payer;

B) that right, property or information is used directly by the

payer;

C) the location of that right, property or information is in India;

iii) the expression “process” includes transmission by satellite

LQFOXGLQJXS-linking, amplification, conversion for down-linking of any

signal), cable, optic fibre or by any other similar technology, whether or not

that process is secret;

iv) the expression “computer software” means any computer

programme recorded on any disc, tape, perforated media or other

information storage device and includes any such programme or any

FXVWRPLVHGHOHFWURQLFGDWD

7a) Income by way of fees for technical services payable by––

i) the Government;

ii) a resident, except where it is payable in respect of services

utilised for—

A) a business or profession carried on by such resident outside

India; or

B) making or earning any income by such resident from any

source outside India; or

iii) a non-resident, if it is payable in respect of services utilised for—

A) a business or a profession carried on by such non-resident in

India; or

B) making or earning any income by such non-resident from

any source in India,

shall be deemed to accrue or arise in India;

30 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) in this sub-section, “fees for technical services” means any consideration

LQFOXGLQJ DQ\ OXPS VXP FRQVLGHUDWLRQ IRU WKH UHQGHULQJ RI DQ\ PDQDJHULDO

WHFKQLFDORUFRQVXOWDQF\VHUYLFHVLQFOXGLQJWKHSURYLVLRQRIVHUYLFHVRIWHFKQLFDO

or other personnel) but does not include consideration—

i) for any construction, assembly, mining or like project undertaken by

the recipient; or

ii) which would be income of the recipient chargeable under the head

“Salaries”.

8) Income arising outside India, in the nature of a sum referred to in

VHFWLRQ49u), paid by a person resident in India,––

a) to a non-resident, not being a company, or to a foreign company; or

b WRDSHUVRQQRWRUGLQDULO\UHVLGHQWLQ,QGLDXQGHUVHFWLRQ13),

VKDOOEHGHHPHGWRDFFUXHRUDULVHLQ,QGLD

9a) For the purposes of this section, “business connection” in India shall

include—

i) any business carried out in India in the case of which all or part of

operation are carried out in India; or

ii) a significant economic presence in India;

b LQFODXVHa), a business carried out in India shall include––

i) business activity carried out through a person who, acting on behalf

of the non-resident,—

A) has and habitually exercises in India, an authority to

conclude contracts on behalf of the non-resident or habitually

concludes contracts or habitually plays the principal role leading to

conclusion of contracts by that non-resident and the contracts are—

I) in the name of the non-resident; or

II) for the transfer of the ownership of, or for the granting

of the right to use, property owned by that non-resident or that

non-resident has the right to use; or

III) for the provision of services by the non-resident; or

B) has no such authority, but habitually maintains in India a

stock of goods or merchandise from which he regularly delivers goods

or merchandise on behalf of the non-resident; or

C) habitually secures orders in India, mainly or wholly for the

non-resident, or for that non-resident and other non-residents controlling,

controlled by, or subject to the same common control, as that

non-resident;

ii) a business activity carried out through a person who is a broker,

general commission agent or any other agent, through whom such activity

is carried out, and who is working mainly or wholly on behalf of––

A) a non-UHVLGHQWUHIHUUHGWRDVWKHSULQFLSDOQRQ-resident); or

B) such non-resident and other non-residents who—

I) are controlled by the principal non-resident; or

II)

have a controlling interest in the principal

non-resident; or

III) are subject to the same common control as the

principal non-resident,

and such person shall not be deemed as having an independent status;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 31

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

c LQFODXVHVa) and b), a business carried out in India shall not include

any business activity or operations of the non-resident––

i) carried out through a broker, general commission agent or any other

agent having an independent status, if such broker, general commission

agent or any other agent is acting in the ordinary course of his business; or

ii) which are confined to any of the following––

A) the purchase of goods in India for the purposes of export out

of India; or

B) the collection of news and views in India for transmission

out of India, in the case where such non-resident is engaged in the

business of running a news agency or of publishing newspapers,

magazines or journals; or

C) the display of uncut and unassorted diamond in any special

zone notified by the Central Government, in the case where such

non-resident is a foreign company engaged in the business of mining

of diamonds; or

D) the shooting of any cinematographic film in India, in the case

where such non-resident is a person being––

I) an individual who is not an Indian citizen; or

II) a firm which does not have a partner who is an Indian

citizen or who is resident in India; or

III) a company which does not have a shareholder who is

an Indian citizen or who is resident in India;

d) a non-resident shall have a significant economic presence in India, where

there is—

i) transaction in respect of any goods, services or property carried out

by such non-resident with any person in India including provision of

download of data or software in India, if the aggregate of payments arising

from such transaction or transactions during the tax year exceeds such

amount as may be prescribed; or

ii) systematic and continuous soliciting of business activities or engaging

in interaction with such number of users in India, as may be prescribed,

irrespective of whether the agreement for such transactions or activities is entered

in India, or the non-resident has a residence or place of business in India, or the

non-resident renders any services in India;

e WKHSURYLVLRQVRIFODXVHd) shall not apply to the transactions or activities

which are confined to the purchase of goods in India for the purpose of export;

f) in this section, only the income which is reasonably attributable to––

i) operations carried out in India, when all operations of the business

are not carried out in India;

ii) transactions or activities referred to in FODXVHd),

shall be deemed to accrue or arise in India from any business connection;

g) the income attributable to operations of any business or significant

economic presence in this section shall also include income from––

i) such advertisement which targets a customer who resides in India

or a customer who accesses the advertisement through internet protocol

address located in India;

ii) sale of data collected from a person who resides in India or from a

person who uses internet protocol address located in India; and

32 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

iii) sale of goods or services using data collected from a person who

resides in India or from a person who uses internet protocol address located

LQ,QGLD

10) In sub-VHFWLRQ2),––

a) an asset or a capital asset, being any share of, or interest in, a

company or entity registered or incorporated outside India shall be deemed

to be situated in India, if the share or interest derives, directly or indirectly,

LWV YDOXH VXEVWDQWLDOO\ IURP WKH DVVHWV ZKHWKHU WDQJLEOH RU LQWDQJLEOH

located in India;

b WKHVKDUHRULQWHUHVWUHIHUUHGWRLQFODXVHa), shall be deemed to

derive its value substantLDOO\IURPWKHDVVHWVZKHWKHUWDQJLEOHRULQWDQJLEOH

located in India, if on the specified date, the value of such assets,––

i) exceeds the amount of ten crore rupees; and

ii) represents at least 50% of the value of all the assets owned

by the company or entity, as the case may be;

c) the value of an asset shall be the fair market value on the specified

date of such asset without reduction of liabilities, if any, in respect of the

asset, determined in the manner, as may be prescribed;

d) the expression “specified date” in clause (c) means—

i) the date on which the accounting period of the company or,

as the case may be, the entity ends preceding the date of transfer of a

share or an interest; or

ii) the date of transfer, if the book value of the assets of the

company or, as the case may be, the entity on the date of transfer

exceeds the book value of the assets as on the date referred to in

sub-FODXVHi), by 15%;

e) the expression “accounting period” in clause (d) means––

i) each period of twelve months ending with the 31st March;

ii) each period of twelve months ending with a date other than

the 31st March, in a case where a company or an entity, referred to in

FODXVHa), regularly adopts a period of twelve months ending on a day

other than the 31st March for—

A) complying with the provisions of the tax laws of the

territory, of which it is a resident, for tax purposes; or

B) reporting to persons holding the share or interest;

iii) the period beginning with the date of registration or

incorporation of a company or entity and ending with the 31st March or

such other day referred to in sub-FODXVHii), in a case where a company or

entity comes into existence and the later accounting period shall be the

successive periods of twelve months; or

iv) the period beginning with the 1st April or such other day as

applicable in sub-FODXVH ii) and ending with the date immediately

preceding the date on which the company or entity ceases to exist, in

a case where the company or the entity ceases to exist before the end

of the accounting period;

f LQFDVHRIDVVHWVPHQWLRQHGLQFODXVHa), if––

i) there is a transfer outside India of any share of, or interest in,

a company or an entity registered or incorporated outside India by a

non-resident transferor; and

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 33

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

ii) all the assets owned, directly or indirectly, by that company

or entity are not located in India,

then, the income referred to in sub-VHFWLRQ2) shall be only such part of the

income as is reasonably attributable to assets located in India and

determined in the manner, as may be prescribed;

g) the income referred to in sub-VHFWLRQ2) shall not include income

from transfer, outside India, of any share of, or interest in, a company or an

entity registered or incorporated outside India,––

i) if such share of, or interest in, a company or an entity

registered or incorporated outside India is held by a non-resident by

way of investment, directly or indirectly,––

A) in Category I or Category II foreign portfolio investor

XQGHU WKH 6HFXULWLHV DQG ([FKDQJH %RDUG RI ,QGLD )RUHLJQ

Portfolio Investors) Regulations, 2014, prior to their repeal, made

under the Securities and Exchange Board of India Act, 1992;

B) in Category I foreign portfolio investor under the

6HFXULWLHV DQG ([FKDQJH %RDUG RI ,QGLD )RUHLJQ 3RUWIROLR

Investors) Regulations, 2019, made under the Securities and

Exchange Board of India Act, 1992;

ii) if such company or entity directly owns the assets situated in

,QGLD DQG WKH WUDQVIHURU ZKHWKHU LQGLYLGXDOO\ RU DORQJ ZLWK LWV

associated enterprises), at any time in the twelve months preceding the

date of transfer,––

A) does not hold the right of management or control in

relation to such company or the entity; and

B) does not hold voting power or share capital or interest

exceeding 5% of the total voting power or total share capital or

total interest, as the case may be, of such company or entity; or

iii) if such company or entity indirectly owns the assets situated

LQ ,QGLD DQG WKH WUDQVIHURU ZKHWKHU LQGLYLGXDOO\ RU DORQJ ZLWK LWV

associated enterprises), at any time in the twelve months preceding the

date of transfer,––

A) does not hold the right of management or control in

relation to such company or the entity;

B) does not hold any right in, or in relation to, such

company or entity which would entitle it to the right of

management or control in the company or entity which directly

owns the assets situated in India; and

C) does not hold such percentage of voting power or share

capital or interest in such company or entity which results in

KROGLQJ RI HLWKHU LQGLYLGXDOO\ RU DORQJ ZLWK DVVRFLDWHG

enterprises) a voting power or share capital or interest exceeding

5% of the total voting power or total share capital or total

interest, as the case may be, of the company or entity, which

directly owns the assets situated in India;

iv) in this clause, “associated enterprises” shall have the

meaning assigned to it in section 162

34 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

11) In sub-VHFWLRQV 5 6 DQG 7), income of a non-resident shall be

deemed to accrue or arise in India and shall be included in his total income,

whether or not,––

a) the non-resident has a residence or place of business or business

connection in India; or

b) the non-UHVLGHQWKDVUHQGHUHGVHUYLFHVLQ,QGLD

12a) In this section, the fund management activity carried out

by an eligible investment fund through an eligible fund manager acting on

behalf of such fund, shall not constitute business connection in India of

that fund;

b WKHHOLJLEOHLQYHVWPHQWIXQGPHQWLRQHGLQFODXVHa) shall not be said

to be resident in India under section 6 merely because the eligible fund manager,

undertaking fund management activities on its behalf, is situated in India;

c) nothing contained in this section shall apply to exclude any income

from the total income of the eligible investment fund, which would have been

so included irrespective of whether the activity of the eligible fund manager

constituted the business connection in India of such fund or not;

d) nothing contained in this section shall have any effect on the scope of

total income or determination of total income in the case of the eligible

fund manager;

e) the conditions for being an eligible investment fund or an eligible

fund manager, or furnishing of requisite statements shall be as per the provisions

of Schedule I;

f) the Central Government may, by notification, specify that any one or

more of the conditions DVUHIHUUHGWRLQFODXVHe) shall not apply, or shall

apply, with such modifications, as specified, in case of an eligible investment

fund and its eligible fund manager, if––

i) the eligible fund manager is located in an International Financial

Services Centre; and

ii) has commenced its operations on or before the 31st March, 2030

13) For the purposes of this section, the expression “through” shall mean

and include “by means of”, “in consequence of” or “by reason of”.

10 ,IDKXVEDQGDQGZLIHDUHJRYHUQHGE\WKHFRPPXQLW\RISURSHUW\

system (known as “COMMUNIAO DOS BENS” under the Portuguese Civil

Code of 1860) in force in the State of Goa and the Union territories of Dadra

and Nagar Haveli and Daman and Diu, then––

a) their income under any head of income shall not be assessed

together as that of such community of property ZKHWKHUWUHDWHGDVDQ

association of persons or a body of individuals);

b) WKHLQFRPHPHQWLRQHGLQFODXVHa) under each head of income

other than “Salaries” shall be divided equally between the husband

and the wife;

c) the income so divided shall be included separately in the total

income of the husband and the wife respectively, and the remaining

provisions of this Act shall apply accordingly; and

Apportionment

of income

between

spouses

governed by

Portuguese

Civil Code

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 35

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Incomes not

included in total

LQFRPH

Incomes not

included in total

income of

political parties

and electoral

WUXVWV

Heads RILQFRPH

d) where either the husband or the wife, has any income under the

head “Salaries”, that income shall be included in the total income of the

VSRXVHZKRKDVDFWXDOO\HDUQHGLW

CHAPTER III

INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME

A.—Incomes not to be included in total income

11 1) In computing the total income of any person for a tax year under

this Act, any income enumerated in Schedules II, III, IV V and VI shall not

EHLQFOXGHGVXEMHFWWRIXOILOPHQWRIFRQGLWLRQVVSHFLILHGWKHUHLQ

2) Wherever the conditions referred to in the Schedules referred in

sub-section 1) are not satisfied in any tax year in respect of any income

enumerated in the said Schedules, such income shall be charged to tax under

this Act on the total income IRUWKDWWD[\HDU

3) The persons enumerated in Schedule VII shall, subject to

fulfilment of the conditions specified therein, not be chargeable to tax under

this Act on the total income IRUDWD[\HDU

4) Wherever the conditions referred to in Schedule VII are not satisfied in

respect of the persons enumerated in the said Schedule in any tax year, the

income of such person shall be charged to tax under the provisions of this Act for

that tax year

5) The Central Government may make rules or issue notifications for the

purposes of this section as specified in Schedules II, III, ,999,DQG9,,

B.—Incomes not to be included in total income of political parties and

electoral trusts

12 1) In computing the total income of any political party or an

electoral trust for a tax year under this Act, any income enumerated in

Schedule VIII shall not be included, subject to fulfilment of conditions

VSHFLILHGWKHUHLQ

2) Wherever the conditions referred to in Schedule VIII are not

satisfied in any tax year in respect of any income enumerated in the said

6FKHGXOHVXFKLQFRPHVKDOOEHFKDUJHGWRWD[XQGHUWKLV$FWIRUWKDWWD[\HDU

3) The Central Government may make rules or issue notifications for

the purposes of this section as specified in Schedule VIII

CHAPTER IV

COMPUTATION OF TOTAL INCOME

A.—Heads of income

13 Save as otherwise provided in this Act, all incomes shall, for the

purposes of charge of income-tax and computation of total income, be

classified under the following heads of income:—

a) Salaries;

b) Income from house property;

c) Profits and gains of business or profession;

d) Capital gains; and

e) ,QFRPHIURPRWKHUVRXUFHV

36 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

14. 1) Irrespective of anything to the contrary contained in this Act, for the

purposes of computing the total income under this Chapter, no deduction shall be

allowed in respect of expenditure incurred by the assessee in relation to income

ZKLFKGRHVQRWIRUPSDUWRIWKHWRWDOLQFRPH

2) Where the Assessing Officer, having regard to the accounts of the

assessee, is not satisfied with—

a) the correctness of the claim of expenditure incurred by the

assessee; or

b) the claim made by the assessee that no expenditure has been

incurred,

in relation to income which does not form part of the total income under this Act,

he shall determine such amount of expenditure in accordance with any method,

as may be SUHVFULEHG

3) Irrespective of anything to the contrary contained in this Act, the

provisions of this section shall apply in a case where any expenditure has been

incurred during any tax year in relation to income which does not form part of the

total income under this Act, but such income has not accrued or arisen or has not

been received GXULQJWKDWWD[\HDU

B.—Salaries

15 1) The following income shall be chargeable to income-tax under the

head “Salaries”:—

a) any salary due from an employer to an assessee in the tax year,

whether paid or not;

b) any salary paid or allowed to him in the tax year by or on behalf of

an employer though not due or before it became due to him;

c) any arrears of salary paid or allowed to him in the tax year by or

on behalf of an employer, if not charged to income-tax for any earlier

WD[\HDU

2) For the purposes of sub-VHFWLRQ1HPSOR\HULQFOXGHVIRUPHUHPSOR\HU

3) If any salary paid in advance is included in the total income of any person

for any tax year, it shall not be included again in the total income of such person

when the salary becRPHVGXH

4) Any salary, bonus, commission or remuneration, by whatever name

called, due to, or received by, a partner of a firm from the firm shall not be

UHJDUGHGDVVDODU\IRUWKHSXUSRVHVRIWKLVVHFWLRQ

16 For the purposes of this Part, “salary” includes—

a) wages;

b) any annuity or pension;

c) any gratuity;

d) any fees or commission;

e) perquisites;

f) profits in lieu of, or in addition to, any salary or wages;

g) any advance of salary;

h) any payment received by an employee in respect of any period of

leave not availed of by him;

Income not

forming part of

total income

and expenditure

in relation to

VXFKLQFRPH

Salaries

Income from

sDODU\

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 37

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

3HUTXLVLWH

i) the annual accretion to the balance at the credit of an employee

participating in a recognised provident fund, to the extent to which it is

chargeable to tax as per paragraph 6 of Part A of Schedule XI;

j) the aggregate of all sums that are comprised in the transferred

EDODQFHDVUHIHUUHGWRLQSDUDJUDSK2) of Part A of Schedule XI of an

employee participating in a recognised provident fund, to the extent to

which it is chargeable to tax under sub-SDUDJUDSKV4DQG5) thereof;

k) the contribution made by the Central Government or any other

employer in any tax year, to the account of an employee under a pension

scheme referred to in section 124; and

l) the contribution made by the Central Government in any tax year,

to the Agniveer Corpus Fund account of an individual enrolled in the

Agnipath Scheme referred to in section 125

17 1) For the purposes of this Part, “perquisite” includes—

a) the value of rent-free accommodation provided to the assessee by

his employer computed in such manner as may be prescribed;

b) the value of any accommodation, computed in such manner as may be

prescribed, provided to the assessee by his employer at a concessional rate

which is in excess of rent recoverable from or payable by the assessee;

c) the value of any benefit or amenity granted or provided free of cost

or at concessional rate in the following cases:—

i) by a company to an employee, who is a director thereof or

who has a substantial interest in the company;

ii E\ DQ\ HPSOR\HU LQFOXGLQJ D FRPSDQ\ WR DQ HPSOR\HH

[other than employee referred in sub-FODXVHi@ whose income under

the head “Salaries” by way of monetary payment (from one or more

employers) exceeds such amount as may be prescribed;

d) the value of any specified security or sweat equity shares allotted

or transferred, directly or indirectly, by the current employer, or former

employer, free of cost or at concessional rate to the assessee;

e) the value of any other benefit or amenity, as may be prescribed;

f) any sum paid by the employer in respect of any obligation which,

but for such payment, would have been payable by the assessee;

g) any sum payable by the employer to effect an assurance on the life

of the assessee or to effect a contract for an annuity, whether directly or

through a fund, other than––

i) a recognised provident fund; or

ii) an approved superannuation fund; or

iii) a Deposit-linked Insurance Fund established under––

A) section 3G of the Coal Mines Provident Fund and

Miscellaneous Provisions Act, 1948; or

B) section 6C of the Employees’ Provident Funds and

Miscellaneous Provisions Act, 1952;

h) aggregate amount of any contribution, in excess of ൟ750000 in a

tax year, made to the account of the assessee by the employer—

i) in a recognised provident fund;

ii) in the scheme referred to in section 1241); and

iii) in an approved superannuation fund;

38 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

41 of 1999

i) the annual accretion by way of interest, dividend or any other

amount of similar nature during the tax year to the balance at the credit of

WKHIXQGRUVFKHPHUHIHUUHGWRLQFODXVHh), computed in such manner, as

may be SUHVFULEHGWRWKHH[WHQWLWUHODWHVWRWKHFRQWULEXWLRQUHIHUUHGto in

WKHVDLGFODXVHLQDQ\WD[\HDU

2) Nothing in sub-VHFWLRQ1) shall apply to––

a) the value of any medical treatment provided to an employee or any

member of his family in any hospital maintained by the employer;

b) any sum paid by the employer in respect of any expenditure

actually incurred by the employee on his medical treatment or treatment of

any member of his family—

i) in any hospital maintained by the Government, or any local

authority, or any other hospital approved by the Government for the

purposes of medical treatment of its employees;

ii) in respect of the prescribed diseases or ailments, in any hospital

approved by the Principal Chief Commissioner or Chief Commissioner

having regard to such guidelines as may be issued in this behalf;

c) any portion of the premium paid by an employer in relation to an

employee, to effect or to keep in force an insurance on the health of such

HPSOR\HHXQGHUDQ\VFKHPHDSSURYHGIRUWKHSXUSRVHVRIVHFWLRQc),

by the––

i) Central Government; or

ii) Insurance Regulatory and Development Authority established

XQGHU VHFWLRQ 1) of the Insurance Regulatory and Development

Authority Act, 1999;

d) any sum paid by the employer in respect of any premium paid by

the employee to effect or to keep in force an insurance on his health or the

health of any member of his family under any scheme, approved for the

purposes of section 126, by the—

i) Central Government; or

ii) Insurance Regulatory and Development Authority established

XQGHU VHFWLRQ 1) of the Insurance Regulatory and Development

Authority Act, 1999;

e) any expenditure incurred by the employer for the use of any vehicle

for journey by the assessee from his residence to his office or other place of

work, or from such office or place to his residence;

f) any expenditure incurred by the employer, or any sum paid by

the employer in respect of any expenditure actually incurred by the

employee, on—

i) medical treatment of the employee or any family member of

such employee outside India;

ii) travel and stay abroad for the employee or any member of

the family of such employee for medical treatment;

iii) travel and stay abroad of one attendant who accompanies

WKHSDWLHQWLQFRQQHFWLRQZLWKVXFKWUHDWPHQW

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 39

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Profits in lieu

RIVDODU\

3) For the purposes of sub-VHFWLRQ2f),—

a) the expenditure on medical treatment and stay abroad shall be

excluded from the perquisite only to the extent permitted by the Reserve

Bank of India; and

b) the expenditure on travel shall be excluded from perquisite only in

the case of an employee whose gross total income, as computed before

including therein the said expenditure, does not exceed such amount as may

be prescribed

4) For the purposes of this section,—

a) “fair market value” means the value determined in accordance with

the method, as may be prescribed;

b) “family”, in relation to an individual, shall have the meaning

DVVLJQHGWRLWLQ6FKHGXOH,,,1RWH

c) “gross total income” shall have the meaning assigned to it in

section 12210);

d) “hospital” includes a dispensary or a clinic or a nursing home;

e) “option” means a right but not an obligation, granted to an

employee to apply for the specified security or sweat equity shares at a

predetermined price;

f) “specified security” means the securities as defined in section 2(h)

RI WKH 6HFXULWLHV &RQWUDFWV Regulation) Act, 1956 and, where

employees’ stock option has been granted under any plan or scheme

therefor, includes the securities offered under such plan or scheme;

g) “sweat equity shares” means equity shares issued by a company to

its employees or directors at a discount or for consideration other than cash

for providing know-how or making available rights in the nature of

intellectual property rights or value additions, by whatever name called;

h) the value of any specified security or sweat equity shares shall be

the fair market value of the specified security or sweat equity shares, on the

date on which the option is exercised by the assessee, as reduced by the

amount actually paid by, or recovered from, the assessee in respect of such

securLW\RUVKDUHV

18 1) For the purposes of this Part, “profits in lieu of salary” includes,—

a) the amount of any compensation due to, or received by, an assessee

from his employer or former employer at or in connection with the—

i) termination of his employment; or

ii) modification of the terms and conditions relating thereto;

b) any amount due to, or received, whether in lump sum or otherwise,

by any assessee from any person—

i) before his joining any employment with that person; or

ii) after cessation of his employment with that person;

c) any payment due to or received by an assessee—

i) from an employer or a former employer; or

ii) from a provident or other fund, to the extent to which it does

not consist of contributions by the assessee or interest on such

contributions; or

40 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

iii) any sum received under a Keyman insurance policy as defined in

6FKHGXOH,,Note 1), including the sum allocated by way of bonus on such

SROLF\

2) The payment referred in sub-VHFWLRQ1c) shall not include any payment

referred to in––

a 6FKHGXOH,,7DEOH6O1R

b 6FKHGXOH,,7DEOH6O1R

c 6FKHGXOH,,7DEOH6O1RDQG

d 6FKHGXOH,,,7DEOH6O1R

19 1) The income chargeable under the head “Salaries” shall be computed

after making the deductions in respect of sums of the nature mentioned in column

B of the following Table, not exceeding the amount as mentioned in column C

thereof:—

Table

6O1R

Nature of sum

Amount of deduction

Sum paid by the assessee as a

tax on employment as per article

2762)

the

Constitution,

OHYLDEOHE\RUXQGHUDQ\ODZ

(QWLUHDPRXQW

Standard deduction

a ൟ RU WKH VDODU\

whichever

less,

where

income-tax is computed under

section 2021);

b ൟ RU WKH VDODU\

whichever is less, in any other

FDVH

Death-cum-retirement gratuity

received

referred

sub-VHFWLRQ2g)

(QWLUHDPRXQW

Payment of retiring gratuity

received under the Pension Code

or Regulations applicable to the

PHPEHUVRIWKHGHIHQFHVHUYLFHV

(QWLUHDPRXQW

Gratuity received under the

Payment of Gratuity Act, 1972

Amount

received,

restricted

the

amount

calculated as per the provisions

RI VHFWLRQ 2 DQG 3) of the

said $FW

Any other gratuity received by

an employee—

i) on his retirement; or

ii)

his

becoming

incapacitated

before

such

retirement; or

iii) on termination of his

HPSOR\PHQW

Amount being minimum

of—

a) actual gratuity received;

b) amount specified by the

Central

Government,

notification, having regard to

the limit applicable in this

behalf to the employees of the

Central Government; and

Deductions

IURPVDODULHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 41

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

c) half month’s salary for

each completed year of

service,

calculated

under:—

Amount =

$[%

where,—

A = average salary for

ten months immediately

preceding the month when

any such event occurs;

B = number of such

FRPSOHWHG\HDUV

Payment in commutation of

pension received—

a) under the Civil Pensions

&RPPXWDWLRQ 5XOHV RI WKH

Central Government; or

b) under any similar scheme

applicable to––

i) the members of the civil

services of the Union or

holders of posts connected

with defence or of civil posts

under

the

Union,

[such

members

holders

not

FRYHUHGXQGHUa@

ii) the members of the

all-India services;

iii) the members of the

defence services;

iv) the members of the civil

services of a State, or the

holders of civil posts under a

State; or

v) the employees of a local

authority or a corporation

established by a Central Act or

6WDWH$FWRU3URYLQFLDO$FW

(QWLUHDPRXQW

Payment in commutation of

pension is received under any

scheme from any other employer

The commuted value shall be

determined having regard to the

age of the recipient, the state of

his health, the rate of interest and

officially recognised tables of

mortality, and—

a) where the employee

has received gratuity, the

commuted value of one-third

of the pension, which he is

normally entitled to receive;

and

42 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) in any other case, the

commuted value of one-half

of such pension

Payment in commutation of

pension received from a fund as

specified

Schedule

VII

7DEOH6O1R

(QWLUHDPRXQW

Compensation received by a

workman at the time of his

retrenchment—

under the Industrial

Disputes

Act,

1947

RIRU

b) under any other Act or

rules, orders or notifications

issued thereunder; or

under any standing

orders; or

under

any

award,

contract

service

RWKHUZLVH

Minimum of—

compensation

received;

b) amount calculated as

per provisions of section

)b) of the Industrial

Disputes

Act,

1947

such amount, not

EHLQJOHVVWKDQൟ, as

may be notified by the

&HQWUDO*RYHUQPHQW

case

compensation

referred to in Sl No 10, where

such compensation received is in

accordance with any scheme

which the Central Government

may approve in this behalf, having

regard to––

a) the need for extending

special

protection

the

workmen in the undertaking to

which such scheme applies; and

other

relevant

FLUFXPVWDQFHV

Compensation received

Amount received or receivable

voluntary

retirement

termination of service under a

scheme or schemes of voluntary

retirement, by an employee as

referred to in sub-VHFWLRQ2)h

Minimum of—

a) compensation received;

and

b ൟ

Payment

received

employee

the

Central

Government or a State Government

as the cash equivalent of the leave

salary in respect of the period of

earned leave at his credit at the time

of his retirement whether on

VXSHUDQQXDWLRQRURWKHUZLVH

(QWLUHDPRXQW

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 43

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Payment of the nature referred

against serial number 13 received

by an employee who is not a

Central Government or State

*RYHUQPHQWHPSOR\HH

Amount

being

minimum

of—

a) the cash equivalent of

the leave salary in respect of

the period of earned leave at

his credit at the time of his

retirement,

whether

superannuation or otherwise

HQWLWOHPHQW RI HDUQHG OHDYH

shall not exceed thirty days

for every year of actual

service);

b) amount “A”,

where,—

A =10×B;

B = average monthly

salary for the ten months

immediately preceding his

retirement

whether

superannuation or otherwise;

c) amount as the Central

Government

may,

notification, specify in this

behalf having regard to the

limit applicable in this behalf

to the employees of that

Government; and

actual

payment

UHFHLYHG

2) For the purposes of the Table referred to in sub-VHFWLRQ1),—

a) in respect of the entries against serial number 6 thereof, if gratuity

or gratuities was or were received from one or more than one employer in

WKHVDPHWD[\HDUZKHWKHURUQRWDQ\JUDWXLW\RUJUDWXLWLHVZDVRUZHUH

received in any earlier tax year), the aggregate amount of deduction shall

not exceed—

A – B,

where,—

A = the limit specified by the Central Government, by

notification; and

B = the aggregate amount of gratuity or gratuities which was or

were received in any one or more earlier tax years and allowed as an

exemption or a GHGXFWLRQ ZKHWKHU ZKROH RU SDUW IURP WKH WRWDO

income of any such tax year or years;

44 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) in respect of the entries against serial numbers 6 and 14 thereof,

“Salary” includes dearness allowance, if the terms of employment so

provide, but excludes all other allowances and perquisites;

c) in respect of the entries against serial numbers 10 and 11 thereof,

the following amounts shall be deemed to be compensation received at the

time of retrenchment:––

i) compensation received by a workman at the time of the

closing down of the undertaking in which he is employed;

ii) compensation received by a workman, at the time of the

WUDQVIHU ZKHWKHU E\ DJUHHPHQW RU E\ operation of law) of the

ownership or management of the undertaking in which he is employed,

from the employer in relation to that undertaking to a new

employer, if—

A) the service of the workman has been interrupted by such

transfer; or

B) the terms and conditions of service applicable to the

workman after such transfer are in any way less favourable to the

workman than those applicable to him immediately before such

transfer; or

C) the new employer is, under the terms of such transfer

or otherwise, legally not liable to pay to the workman, in the

event of his retrenchment or compensation on the basis that his

service has been continuous and has not been interrupted by

such transfer;

d) in respect of the entries against serial numbers 10 and 11 thereof,

the expressions “employer” and “workman” shall have the same meanings

as respectively assigned to them in the Industrial Disputes Act, 1947;

e) the provisions of the entries against serial number 12 thereof shall

be subject to the following conditions:––

i) the applicable schemes of the said companies or authorities or

societies or Universities or the institutes referred to in clauses h)vii)

and x), governing the payment of such amount are made as per such

JXLGHOLQHVLQFOXGLQJ, inter alia, criteria of economic viability) as may

be issued in this behalf;

ii) where deduction has been allowed to an employee in respect

of the said item for any tax year, no deduction thereunder shall be

allowed to him in relation to any other tax year; and

iii) where any relief under section 157 has been allowed to an

assessee for any tax year in respect of any amount referred to in the

said item, such amount shall not be allowed as a deduction from the

compensation received or receivable in any tax year;

f) in respect of the entries against serial number 14 thereof, if any

payment on account of cash equivalent of leave salary is received from one

RUPRUHWKDQRQHHPSOR\HULQWKHVDPHWD[\HDUZKHWKHURUQRWDQ\VXFK

payment or payments was or were received in any earlier tax year), the

aggregate amount of deduction shall not exceed—

A – B,

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 45

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Income from

KRXVHSURSHUW\

where,—

A = the limit specified by the Central Government, by

notification; and

B = the aggregate amount of payment or payments which

was received in any one or more earlier tax years and allowed as

an exemption or a deduction ZKHWKHUZKROHRUSDUWIURPWRWDO

income of any such tax year or years;

g) the death-cum-retirement gratuity referred to in sub-section 1)

7DEOH6O1RVKDOOEH as––

A) received under the revised pension rules of the Central

*RYHUQPHQWRUWKH&HQWUDO&LYLO6HUYLFHV3HQVLRQ5XOHVRU

B) received under any similar scheme applicable––

i) to the members of the civil services of the Union or

holders of posts connected with defence or of civil posts under

WKH8QLRQVXFKmembers or holders being persons not governed

by the said rules);

ii) to the members of the all-India services;

iii) to the members of the civil services of a State or

holders of civil posts under a State; or

iv) to the employees of a local authority;

h) the schemes of voluntary retirement or termination of service as

referred to in sub-section 1) 7DEOH 6O 1R VKDOO EH IRU WKH

employees of––

i D SXEOLF VHFWRU FRPSDQ\ XQGHU D VFKHPH RI YROXQWDU\

separation); or

ii) any other company; or

iii) an authority established under a Central Act or State Act or

Provincial Act; or

iv) a local authority; or

v) a co-operative society; or

vi) a University established or incorporated by or under a Central

Act or State Act or Provincial Act and an institution declared to be a

University under section 3 of the University Grants Commission

Act, 1956; or

vii) an Indian Institute of Technology within the meaning of

VHFWLRQg) of the Institutes of Technology Act, 1961; or

viii) the Central or any State Government; or

ix) an institution, having importance throughout India or in any

State or States, as the Central Government may, by notification,

specify in this behalf; or

x) such institute of management, as the Central Government

PD\E\QRWLILFDWLRQVSHFLI\LQWKLVEHKDOI

C.—Income from house property

20 1) The annual value of property consisting of any buildings or lands

appurtenant thereto, owned by the assessee shall be chargeable to income-tax

under the head “Income from house property”.

46 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

2) The provisions of sub-VHFWLRQ1) shall not apply to such portions of the

property, as the assessee may occupy for his business or profession, the profits of

which are chargeable to income-WD[

21 1) For the purposes of section 20, the annual value of any property shall

be deemed to be the higher of the following:—

a) the sum for which it might reasonably be expected to let from year

to year; or

b) the actual rent received or receivable by the owner, if the property

RUDQ\SDUWRILWLVOHW

2) If the property or any part of it is let and was vacant for the whole or any

part of the tax year and owing to such vacancy the actual rent received or

receivable by the owner in respect thereof is less than the sum referred to in

sub-VHFWLRQ1a), the annual value of such property shall be deemed to be the

amount so received or receivable

3 7KHDQQXDOYDOXHRIWKHSURSHUW\VKDOOEHUHGXFHGE\WKHWD[HVLQFluding

service taxes) levied by a local authority in respect of such property, actually paid

GXULQJWKHWD[\HDUE\WKHRZQHULUUHVSHFWLYHRIZKHQVXFKWD[HVEHFDPHSD\DEOH

4) The rent which cannot be realised by the owner shall not be included in

computing the actual rent received or receivable, subject to the rules as may be

made LQWKLVEHKDOI

5) Where a property is held as stock-in-trade and is not let wholly or partly

at any time during the tax year, the annual value of such property or part thereof

shall be nil for two years from the end of the financial year in which the certificate

for completion of construction LVREWDLQHGIURPWKHFRPSHWHQWDXWKRULW\

6) The annual value of the property consisting of a house or any part thereof

shall be taken as nil, if the owner occupies it for his own residence or cannot

DFWXDOO\RFFXS\LWGXHWRDQ\UHDVRQ

7) The provisions of sub-VHFWLRQ6)––

a) shall apply only in respect of two of such houses as specified by the

assessee in this behalf;

b) shall not apply, if the house or any part thereof is actually let during

DQ\WLPHRIWKHWD[\HDURULIWKHRZQHUGHULYHVDQ\RWKHUEHQHILWIURPLW

22 1) The income under the head “Income from house property” shall be

computed after making the following deductions:––

a) 30% of the annual value as determined under section 21;

b) where the property has been acquired, constructed, repaired,

renewed or reconstructed with borrowed capital, the amount of any interest

payable on such capital;

c) where the capital referred to LQFODXVHb) is borrowed during any

period prior to the tax year in which the property has been acquired or

constructed, the amount of any interest payable for the said prior period in

five equal instalments for the said tax year and for each of the four

LPPHGLDWHO\VXFFHHGLQJWD[\HDUV

2 ,QFDVHRISURSHUW\RUSURSHUWLHVUHIHUUHGWRLQVHFWLRQ6), the aggregate

amount of deduction under sub-VHFWLRQ1b) shall not exceed—

a) ൟ200000, subject to the following conditions:––

i) the property has been acquired or constructed with borrowed

capital and such acquisition or construction is completed within five

years from the end of tax year in which capital was borrowed;

ii) the assessee furnishes a certificate from the person to whom

interest is payable on such capital; and

Determination

of annual

YDOXH

Deductions from

income from

KRXVHSURSHUW\

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 47

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Arrears of rent

and unrealised

rent received

VXEVHTXHQWO\

Property owned

by co-RZQHUV

Interpretation

b) ൟ30000 LQDQ\RWKHUFDVH

3) The deduction under VHFWLRQ 1c) shall be computed after

reducing the interest referred to in the said section by any amount already

DOORZHGDVDGHGXFWLRQXQGHUDQ\RWKHUSURYLVLRQVRIWKLV$FW

4) The certificate referred to in sub-VHFWLRQ2) shall specify––

a) the amount of interest payable on capital borrowed; and

b) the interest payable on any new loan, where subsequent to the

capital borrowed, the assessee has taken any such loan for repayment of

whole or any part of such FDSLWDO

5) The aggregate of the amounts of deduction under sub-VHFWLRQ2) in

UHVSHFWRISURSHUWLHVRIWKHQDWXUHUHIHUUHGWRLQVHFWLRQ6) shall not

exceed ൟ200000

6) Any interest chargeable under this Act which is payable outside India

shall not be allowed as a deduction under this section, if—

a) tax has not been paid or deducted on such interest under

Chapter XIX-B; and

b) in respect of such interest, there is no agent in India as per

section 306

23 1) The amount of arrears of rent received by an assessee from a

tenant, or the unrealised rent realised subsequently from a tenant, shall be

deemed to be the income from house property in respect of the tax year in

ZKLFKVXFKUHQWLVUHFHLYHGRUUHDOLVHG

2) The amount deemed to be income from house property under

sub-VHFWLRQ1) shall be included in the total income of the assessee under the

head “Income from house property”, whether the assessee is the owner of the

SURSHUW\RUQRWLQWKDWWD[\HDU

3) A sum equal to 30% of the arrears of rent or the unrealised rent

referred to in sub-VHFWLRQ1VKDOOEHDOORZHGDVGHGXFWLRQ

24 1) For property co-owned with definite and ascertainable share, the

co-owners shall not be assessed as an association of persons and their income

computed separately under this Part as per their respective share shall be

LQFOXGHGLQWKHLUWRWDOLQFRPH

2) 7KHUHOLHIDYDLODEOHXQGHUVHFWLRQ6) shall be provided as if each

co-RZQHULVLQGLYLGXDOO\HQWLWOHGWRWKHVDLGUHOLHI

25. For the purposes of sections 20 to 24, the “owner” in relation to a

property or any part thereof shall include––

a) an individual who transfers without adequate consideration, any

SURSHUW\WRWKHVSRXVHH[FHSWXQGHUDQDJUHHPHQWWROLYHDSDUWRUWRD

PLQRUFKLOGRWKHUWKDQDPDUULHGGDXJKWHU

b) the holder of an impartible estate, and he shall be deemed to be an

individual owner in respect of all the properties comprised in the estate;

c) a member of a co-operative society, company or other association

of persons to whom a building or part thereof is allotted or leased under a

house building scheme of the society, company or association;

d) a person who is allowed to take or retain possession of any

building or part thereof in part performance of a contract of the nature

referred to in section 53A of the Transfer of Property Act, 1882;

e DSHUVRQZKRDFTXLUHVDQ\ULJKWVHxcluding any rights by way

of a lease from month to month or for a period not exceeding one year)

in or with respect to any building or its part—

48 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

i) by virtue of transfer of such property by way of sale or

exchange or original or extendible lease for a term of not less than

twelve years; or

ii DFFUXLQJRUDULVLQJIURPDQ\WUDQVDFWLRQZKHWKHUE\ZD\

of becoming a member of, or acquiring shares in, a co-operative

society, company or other association of persons or by way of any

agreement or any arrangement of whatever nature), not being a

transaction by way of sale, exchange or lease which has the effect

RIHQDEOLQJWKHHQMR\PHQWRIVXFKSURSHUW\

D.—Profits and gains of business or profession

26 1) The incomes referred to in sub-VHFWLRQ 2) shall be

chargeable to income-tax under the head “Profits and gains of business

or profession”.

2) The income under sub-VHFWLRQ1) shall include––

a) the profits and gains of any business or profession carried

on by the assessee at any time during the tax year;

b) any compensation or other payment, due to, or received,

by any person by whatever name called,––

i) wholly or substantially managing the affairs—

A) of an Indian company; or

B) in India, of any other company; or

ii) holding any agency in India for any part of business

activities of any other person; or

iii) for any contract relating to business,

in connection with termination of management, office, agency or

contract, as the case may be, or modification of terms and

conditions relating thereto;

c) any compensation or payment, due to, or received by, any

person for vesting of the management of any property or business,

in the Government including any corporation owned or controlled

by the Government under any law in force;

d) income derived by a trade, professional or similar

association from specific services performed for its members;

e) profits on sale of import licence, cash assistance against

export, duty drawback or duty remission or any other export

incentive, received or receivable;

f) the value of any benefit or perquisite arising from business

or the exercise of a profession, whether—

i) convertible into money or not; or

ii) in cash or in kind or partly in cash and partly in kind;

g) any interest, salary, bonus, commission or remuneration,

by whatever name called, which is due to, or received by, a partner

of a firm from such firm to the extent allowed under VHFWLRQe)

as a deduction in computing the income of the firm;

h) any sum, received or receivable, in cash or in kind––

i) under an agreement for not carrying out any activity

in relation to any business or profession, not being—

Income under

head “Profits

and gains of

business or

profession”.

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 49

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Manner of

computing

profits and gains

of business or

SURIHVVLRQ

Rent, rates, taxes,

repairs and

LQVXUDQFH

A) any sum received on account of transfer of the

right to manufacture, produce or process any article or

thing or right to carry on any business or profession which

is chargeable under the head “Capital gains”;

B) any sum received as compensation from the

multilateral fund of the Montreal Protocol on Substances

that Deplete the Ozone layer under the United Nations

Environment Programme, as per the terms of agreement

entered into with the Government of India; or

ii) under an agreement for not sharing any know-how,

patent, copyright, trade-mark, licence, franchise or any other

business or commercial right of similar nature, or information or

technique likely to assist in the manufacture or processing of

goods or provision for services;

i) any sum received under a Keyman insurance policy including the

sum allocated by way of bonus on such policy;

j) the fair market value of inventory as on the date on which it is converted

into, or treated as, a capital asset determined in the manner, as may be prescribed;

and

k) any sum which is received or receivable in cash or kind, when––

i) a capital asset other than land or goodwill or financial

instrument, is demolished, destroyed, discarded or transferred; and

ii) the whole of the expenditure on it has been allowed as a

deduction under section 35AD of the Income-tax Act, 1961 or

section 46 of this Act

3) Where speculative transactions carried on by an assessee are of such

nature to constitute a business, WKHEXVLQHVVKHUHLQUHIHUUHGWRDVVSHFXODWLRQ

EXVLQHVVVKDOOEHGHHPHGWREHGLVWLQFWDQGVHSDUDWHIURPDQ\RWKHUEXVLQHVV

4) Any income from letting out of a residential house or a part of it by the

owner shall not be included in income under sub-sHFWLRQ 1) and shall be

chargeable only under the head “Income from house property”.

27 The income referred to in section 26 shall be computed as per the

SURYLVLRQVRIVHFWLRQVWRH[FHSWVHFWLRQ

28 1) The following amounts shall be allowed as deduction in respect of

premises, machinery, plant or furniture used for the purposes of the business or

profession:––

a) any premium paid in respect of insurance against risk of damage

or destruction thereof;

b) land revenue, local rates or municipal taxes paid;

c) rent paid, when the premises are occupied by the assessee as a tenant;

d) amount paid on account of current repairs to the premises, not being in

the nature of capital expenditure, when the premises are occupied by the assessee

otherwise than as a tenant;

e) amount paid on account of cost of repairs, not being in the nature of

capital expenditure, when the premises are occupied by the assessee as a tenant

and where he has undertaken to bear the cost of repairs to the premises; and

f) the amount paid on account of current repairs to machinery, plant or

furniture, QRWEHLQJLQWKHQDWXUHRIFDSLWDOH[SHQGLWXUH

2) In case where the premises, building, machinery, plant or furniture is partly

used or not wholly and exclusively used for the purposes of the business or profession,

the deduction allowable under sub-VHFWLRQ 1) shall be restricted to the fair

proportionate part thereof as determined by the Assessing Officer, having regard to

WKHXVDJHIRUWKHSXUSRVHVRIWKHEXVLQHVVRUSURIHVVLRQ

50 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

29 1) The following sums, in the case of an assessee being an employer, shall

be allowed as deduction in computing income chargeable under section 26:––

a) any sum paid by way of contribution towards a recognised

provident fund or an approved superannuation fund, subject to––

i) such limits, as may be prescribed, for recognising the

provident fund or approving the superannuation fund; and

ii) such conditions, as the Board may specify, for cases where

the contributions are not made annually either as fixed amounts, or

annual contributions fixed on some definite basis by reference to the

income chargeable under the head “Salaries” or the contributions or to

the number of members of the fund;

b) any sum paid by way of contribution towards a pension scheme

referred to in section 124, for an employee up to 14% of the salary of the

employee in the tax year, where such salary includes dearness allowance, if

the terms of employment so provide, but excludes all other allowances and

perquisites;

c) any sum paid by way of contribution towards an approved gratuity

fund created by the assessee for the exclusive benefit of his employees under an

irrevocable trust;

d) irrespective of anything contained in sub-VHFWLRQ2), any provision

made for the purpose of making contribution towards approved gratuity

fund or for the purpose of payment of any gratuity that has become payable

during the tax year;

ei) the amount of contribution received from an employee to which the

SURYLVLRQVRIVHFWLRQ49o) apply, if it is credited by the assessee to the account

of the employee in the relevant fund or funds by the due date;

ii) for the purposes of sub-FODXVHi), “due date” means the date by

which the assessee is required as an employer to credit employee

contribution to the account of an employee in the relevant fund under any

Act, rule, order or notification issued under it or under any standing order,

award, contract of service or otherwise and the provisions of section 37 shall

not apply for determining the “due date” under this clause.

2 a) Subject to the provisions of sub-VHFWLRQ1d), no deduction shall be

allowed for any provision made for the payment of gratuity to the employees on

their retirement or termination for any reason; and

b) in case deduction has been allowed for any provision made under

sub-sHFWLRQ1d), then no deduction shall be allowed on actual payment made

IURPVXFKSURYLVLRQ

3) No deduction shall be allowed in respect of any sum paid by the assessee as

an employer towards setting up or formation of, or as contribution to, any fund, trust,

company, association of persons, body of individuals, society registered under the

Societies Registration Act, 1860, or other institution for any purpose, except where

such sum is so paid, for the purposes and to the extent provided by or under

sub-VHFWLRQ1aRUbRUcRUDVUHTXLUHGE\RUXQGHUDQ\RWKHUODZLQIRUFH

30 The following sums shall be allowed as deduction in computing income

chargeable under section 26, being premium paid:––

a) by any assessee in respect of insurance against risk of damage or

destruction of stocks or stores used for the purposes of business or profession;

b) by a federal milk co-operative society to effect or to keep in force

an insurance on the life of the cattle owned by a member of a co-operative

society, being a primary society engaged in supplying milk raised by its

members to such federal milk co-operative society;

Deductions

related to

employee

ZHOIDUH

Deduction on

certain

premium

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 51

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Deduction for

bad debt and

provision for

bad and

GRXEWIXOGHEW

c) by the assessee as an employer, through any mode of payment

other than cash, to effect or to keep in force an insurance on the health of its

employees under a scheme framed in this behalf by—

i) the General Insurance Corporation of India formed under

section 9 of WKH *HQHUDO ,QVXUDQFH %XVLQHVV 1DWLRQDOLVDWLRQ

Act, 1972 and approved by the Central Government; or

ii) any other insurer and approved by the Insurance Regulatory

DQG 'HYHORSPHQW $XWKRULW\ HVWDEOLVKHG XQGHU VHFWLRQ 1) of the

Insurance RegulDWRU\DQG'HYHORSPHQW$XWKRULW\$FW

31 1) The amount mentioned in column C of the Table below, in respect

of any provision for bad and doubtful debts made by the assessee specified in

column B thereof, shall be allowed as a deduction in computation of income

chargeable under section 26

Table

Specified assessee

Amount of deduction

a) A scheduled bank, other than a bank

incorporated by or under the laws of a

country outside India; or

b) a non-scheduled bank; or

c) a co-operative bank, other than—

a primary agricultural credit

society; or

ii)

primary

co-operative

agricultural and rural development bank

not more than

RIWKHWRWDOLQFRPH

of the tax year computed

before

making

any

deduction

under

this

clause and Chapter VIII,

and an additional amount

up to 10% of the

aggregate

average

advances made by rural

branches computed in

the manner as may be

prescribed;

b) for an assessee

PHQWLRQHGLQFODXVHVa)

DQGb) of column B, at its

option,

additional

amount in excess of

clause a) of this column

but not more than the

income from redemption

of securities as per a

scheme framed by the

Central

Government,

when such income has

been disclosed in the

return of income under

the head “Profits and

gains of business or

profession”.

a) A bank incorporated by or under the

laws of a country outside India; or

b) a public financial institution or a

State Financial Corporation or a State

Industrial Investment Corporation; or

c) a non-EDQNLQJILQDQFLDOFRPSDQ\

Not more than 5% of

the total income of a tax

year computed before

making any deduction

under this clause and

Chapter VIII

52 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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2) Any amount of bad debt, or part of it, in the tax year in which such

amount is written off as irrecoverable in the accounts of the assessee, shall be

allowed as deduction in computation of income chargeable under section 26,

subject to the following conditions:––

a) it has been taken into account in computing the income of the

assessee of the tax year in which it is written off, or any earlier tax year, or

represents the money lent in the ordinary course of the business of banking or

money lending which is carried on by the assessee;

b) if the amount ultimately recovered on any such debt or part of debt

is less than the difference between the debt or part and the amount so

deducted, the deficiency shall be deductible in the tax year in which the

ultimate recovery is made; and

c) where it relates to an assessee to which sub-VHFWLRQ1) applies,––

i) only that amount which exceeds the credit balance in the

provision for bad and doubtful debts account made under that

sub-section shall be allowed as deduction;

ii) such amount shall be allowed only when the assessee has

debited any amount of bad debt or part thereof in that tax year to the

provision for bad and doubtful debts account made under that

sub-section; and

iii) the aforesaid account shall be only one such account under

sub-VHFWLRQ 1) and such account shall be related to all types of

DGYDQFHVLQFOXGLQJDGYDQFHVPDGHE\UXUDOEUDQFKHV

3) For the purposes of sub-VHFWLRQ2),––

a) any bad debt or part of it written off as irrecoverable shall not

include any provision for bad and doubtful debt;

b) any amount of bad debt or part of it, which has been taken into account

in computing the income of the assessee of the tax year in which the amount of

bad debt or part of it becomes irrecoverable or of an earlier tax year as per

income computation and disclosure standards notified under section 2762)

without recording it in the accounts, shall be allowed as a deduction in

computing the income of the assessee of the tax year in which it becomes

irrecoverable and such bad debt or part of it shall be deemed to be written off as

irrecoverable in the accounts for the purposes of sub-VHFWLRQ2

The following amounts shall be

allowed as deduction in

computing income chargeable under section 26:––

a) bonus or commission paid to an employee for services rendered,

but only when such amount would not have been payable to the employee

as profits or dividend if it had not been paid as bonus or commission;

b) interest paid in respect of capital borrowed for the purposes of

business or profession, where––

i) such interest shall not include interest on capital borrowed for

acquisition of an asset, whether capitalised in the books of account or not,

for any period beginning from the date the capital was borrowed for

acquisition of the asset till the date that asset was first put to use;

ii) recurring subscriptions paid periodically by shareholders or

subscribers in Mutual Benefit Societies fulfilling the conditions as

may be prescribed, shall be deemed to be capital borrowed;

c) contribution paid by a public financial institution to the credit

guarantee fund trust for small industries as the Central Government may, by

notification, specify;

Other

GHGXFWLRQV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 53

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

d) the pro rata amount of discount on a zero coupon bond having

regard to the period of life of such bond calculated in the manner, as may be

prescribed, where––

i) “discount” means the difference between the amount received

or receivable by the infrastructure capital company or infrastructure

capital fund or public sector company or scheduled bank issuing the

bond, and the amount payable on maturity or redemption of such bond;

ii) “period of life of bond” means the period commencing from

the date of issue of the bond and ending on the date of the maturity or

redemption of such bond;

e) the amount carried to a special reserve created and maintained by

a specified entity, subject to the following conditions:––

i) such amount shall not exceed 20% of the profits derived from an

eligible business computed under the head “Profits and gains of business

or profession” before any deductions under this clause; and

ii) when the aggregate of such amounts carried to such reserve

account from time to time exceeds twice the amount of paid-up share

capital and of general reserves of the specified entity, no deduction

shall be allowable on such excess,

and for the purposes of this clause,––

A) “specified entity” means—

I) a public financial institution as VSHFLILHGLQVHFWLRQ72) of

the Companies Act, 2013;

II) a financial corporation which is a public sector company;

III) a banking company;

IV) a co-operative bank other than a primary agricultural credit

society or a primary co-operative agricultural and rural development bank;

V) a housing finance company; and

VI) any other financial corporation including a public company;

B) “eligible business” means,—

I) in respect of any of the specified entities referred to in

FODXVH eAI) to IV), the business of providing long-term

finance for—

a) industrial or agricultural development;

b) development of infrastructure facility in India; or

c) development of housing in India;

II LQUHVSHFWRIWKHVSHFLILHGHQWLW\UHIHUUHGWRLQFODXVHeAV),

the business of providing long-term finance for the construction or

purchase of houses in India for residential purposes; and

III)

in respect of the specified entity referred to in

FODXVH eAVI), the business of providing long-term finance for

development of infrastructure facility in India;

C) “infrastructure facility” means—

I) an infrastructure facility as defined in Explanation to

section 80-,$4i) of the Income-tax Act, 1961 or any other public

facility of a similar nature as may be notified by the Board in this

behalf and which fulfils the conditions as may be prescribed;

54 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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II) an undertaking referred to in section 80-,$4iiRUiii) or

iv RUvi) of the Income-tax Act, 1961; and

III) an undertaking referred to in section 80-,%10) of the

Income-tax Act, 1961;

f) any expenditure, not being capital expenditure, incurred by a

corporation or a body corporate, by whatever name called, if,—

i) it is constituted or established by a Central Act or State Act

or Provincial Act;

ii) it is notified by the Central Government for the purposes of

this clause having regard to the objects and purposes of the Act

referred to in sub-FODXVHi); and

iii) the expenditure is incurred for the objects and purposes

authorised by the Act under which it is constituted or established;

g) the expenditure incurred by a co-operative society engaged in the

business of manufacture of sugar, on purchase of sugarcane at a price equal

to or less than the price fixed or approved by the Government;

h) marked to market loss or other expected loss as computed as per the

income computation and disclosXUHVWDQGDUGVQRWLILHGXQGHUVHFWLRQ2);

i) any expenditure bona fide incurred by a company for the purpose

of promoting family planning amongst its employees, subject to the

following conditions:––

A) if such expenditure or any part of it is of capital nature,

one-fifth of it shall be deducted for the tax year in which it was

incurred and the balance shall be deducted in equal instalments for

each of the four immediately succeeding tax years;

B) the provisions of sections 11) and 1123) shall apply to

deduction under this clause as they apply in relation to deductions

allowable in respect of depreciation;

C WKHSURYLVLRQVRIVHFWLRQV1c4) 7DEOH6O1R,

6) DQG10), shall apply to an asset representing capital expenditure

for promoting family planning, to the extent they apply to an asset

representing capital expenditure on scientific research;

j) the amount being difference between the actual cost of animals

used for the purposes of the business or profession otherwise than as

stock-in-trade and the amount realised from the carcasses or animals,

where such animals have died or become permanently useless; and

k) the amount paid as securities transaction tax or commodities

transaction tax, if––

i) the taxable securities transactions or taxable commodities

transactions are entered into the course of the business during the tax

year; and

ii) the income arising from such taxable securities transactions or

taxable commodities transactions is included in the income computed

under the head “Profits and gains of business or profession”.

33 1) A deduction in respect of depreciation of—

a) buildings, machinery, plant or furniture, being tangible assets;

Deduction for

GHSUHFLDWLRQ

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 55

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

b) know-how, patents, copyrights, trademarks, licences, franchises or

any other business or commercial rights of similar nature, being intangible

assets acquired on or after the 1st April, 1998, not being goodwill of a

business or profession,

owned wholly or partly by the assessee and used wholly and exclusively for the

purposes of the business or profession, shall be allowed, as per the provisions of

WKLVVHFWLRQ

2) In case of assets referred to in sub-sHFWLRQ1) of an undertaking engaged

in generation or generation and distribution of power, the deduction in respect of

depreciation shall be such percentage of its actual cost to the assessee, as may be

SUHVFULEHG

3 a) In case of any block of assets, deduction in respect of depreciation

shall be such percentage of its written down value, as may be prescribed;

b) when any building, machinery, plant or furniture is partly, or not wholly

and exclusively, used for the purposes of the business or profession, the deduction

XQGHU FODXVH a) shall be restricted to the fair proportionate part thereof as

determined by the Assessing Officer, having regard to the usage of such building,

machinery, plant or furniture for the purposes of the business or profession;

c) when deduction of actual cost in respect of any machinery or plant has been

allowed under section 54, no deduction under this sub-VHFWLRQVKDOOEHDOORZHG

4) The deduction under this section shall be restricted to 50% of the prescribed

rate, if such asset, being asset referred to in sub-sections 2DQG3) is––

a) acquired by the assessee during the tax year; and

b) put to use for the purposes of business or profession for less than

one hundred and eighty GD\VLQWKDWWD[\HDU

5) The aggregate deduction in respect of depreciation allowable to the

SUHGHFHVVRUDQGVXFFHVVRULQFDVHVRIVXFFHVVLRQXQGHUVHFWLRQ1zdRUze)

RUzf), or section 313, or to the amalgamating and the amalgamated company in

the case of amalgamation, or to the demerged and resulting company in the case

of demerger, as the case may be, for any tax year, shall not exceed the deduction

calculated at the prescribed rates under this section as if the succession,

amalgamation or demerger had not taken place, and such deduction shall be

allowed on pro rata basis based on number of days for which assets were used by

the following:––

a) predecessor and successor, in case of such succession; or

b) amalgamating company and the amalgamated company in case of

an amalgamation; or

c) demerged company and the UHVXOWLQJFRPSDQ\LQFDVHRIDGHPHUJHU

6) Where a building, not owned by the assessee, is held on lease or by any

other right of occupancy is used for the purposes of business or profession of the

assessee, and if any capital expenditure is incurred by the assessee for the

purposes of business or profession on construction of any structure or any work

by way of renovation, extension or improvement to such building, then such

structure or work shall be treated as a building owned by the assessee for the

pXUSRVHVRIWKLVVHFWLRQ

7) The provisions of this section shall apply whether or not the assessee has

claimed deduction for depreciation in computing his WRWDOLQFRPH

8) In addition to deduction under sub-VHFWLRQ3), additional deduction in

respect of depreciation for any new machinery or plant shall be allowed, when—

a) the assessee is engaged in the business of manufacture or

production of any article or thing or in the business of generation,

transmission or distribution of power;

56 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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b) the assessee acquires and installs the new machinery or plant;

c) the new machinery or plant is first put to use by the assessee for

the purposes of business; and

d) the new machinery or plant QRWEHLQJDVKLSRUDQDLUFUDIW—

i) was not used either within or outside India by any other

person before its installation by the assessee;

ii) is not installed in any office premises or any residential

accommodation, including accommodation in the nature of a guest house;

iii) is not in the nature of any office appliances or road transport

vehicle; or

iv) is not an asset on which the whole of the actual cost is

allowed DVDGHGXFWLRQZKHWKHUE\ZD\RIGHSUHFLDWLRQRURWKHUZLVH

in computing the income under the head “Profits and gains of business

or profession” RIDQ\WD[\HDU

9) The additional deduction in respect of depreciation referred to in

sub-VHFWLRQ8) shall be––

a) 20% of the actual cost of the new machinery or plant in the tax year

when it is acquired and put to XVHVXEMHFWWRWKHSURYLVLRQVRIFODXVHb); or

b) 10% of the actual cost, if the new machinery or plant is acquired

and put to use for less than one hundred and eighty days in the relevant tax

year, and 10% of the actual cost shall be allowed in the immediately

VXFFHHGLQJWD[\HDU

10) The difference between the written down value and the moneys payable

including the scrap value, if any, for any tangible asset in respect of which

depreciation is claimed and allowed under sub-VHFWLRQ2), shall be allowed as

deduction when—

a) such asset is sold, discarded, demolished or destroyed in the tax

year not being the tax year in which it is first put into use;

b) the moneys payable including the scrap value, if any, is less than

its written down value; and

c) such deficiency is actually written off in the books of account of

WKHDVVHVVHH

11 a) Where the profits and gains chargeable for the tax year before

allowing the deduction under sub-sections 1WR10) is less than such allowable

deduction, then––

i) if such profits and gains is not a loss, the deduction under sub-sections 1)

WR10) shall be allowed to the extent of the available profits and gains;

ii) if such profits and gains is a loss, no deduction under

sub-sections 1) WR10) shall be allowed;

b) the amount of GHGXFWLRQZKLFKKDVQRWEHHQDOORZHGXQGHUFODXVHa)

shall be added to the allowable deduction under this section, whether available or

not, for the succeeding tax year and the total amount shall be deemed to be eligible

for deduction in that year, and so on for the succeeding tax years; and

c) the provisions of this sub-section shall be subject to the provisions of

sections 1123) and 1134)

12) For the purposes of this section,––

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 57

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

General

conditions for

allowable

GHGXFWLRQV

a) “assets” mean—

i) tangible assets, being buildings, machinery, plant or furniture;

ii) intangible assets being––

A) know-how; or

B) patents; or

C) copyrights; or

D) trademarks; or

E) licences; or

F) franchises; or

G) any other similar business or commercial rights, but

not being goodwill of a business or profession;

b) “know-how” means any industrial information or technique likely

to assist in the manufacture or processing of goods or in the working of a

mine, oil-ZHOORURWKHUVRXUFHVRIPLQHUDOGHSRVLWVLQFOXGLQJVHDUFKLQJIRU

discovery or testing of deposits for the winning of access thereto);

c) “sold” includes a transfer by way of exchange or a compulsory

acquisition under any law for the time being in force but does not include a

transfer, in a scheme of amalgamation, of any asset by the amalgamating

company to the amalgamated company where the amalgamated company is an

Indian company or in a scheme of amalgamation of a banking company, as

reIHUUHGWRLQVHFWLRQc) of the Banking Regulation Act, 1949 with a banking

LQVWLWXWLRQ DV UHIHUUHG WR LQ VHFWLRQ 15) of the said Act, sanctioned and

EURXJKWLQWRIRUFHE\WKH&HQWUDO*RYHUQPHQWXQGHUVHFWLRQ7) of that Act,

of any asset by the banking company to the banking institution;

d) “written down value of the block of assets” shall have the same

PHDQLQJDVLQVHFWLRQ1)c)

34 1$Q\H[SHQGLWXUHQRWEHLQJDQH[SHQGLWXUHRIWKHQDWXUHVSHFLILHGLQ

sections 28 to 33, 44 to 49, 51and 52 and not being in the nature of capital expenditure

or personal expenses of the assessee), laid out or expended wholly and exclusively for

the purposes of the business or profession shall be allowed in computing the income

chargeable under the head “Profits and gains of business or profession”.

2) For the purposes of sub-VHFWLRQ1), an expenditure laid out or expended

wholly and exclusively for business or profession by the assessee shall not include

any of the following:––

a) an expenditure incurred for any purpose which is an offence or is

prohibited by law; or

b) an expenditure incurred on the activities relating to corporate social

responsibility referred to in section 135 of the Companies Act, 2013; or

c) an expenditure incurred on advertisement in any souvenir, brochure,

WUDFWSDPSKOHWRUWKHOLNHSXEOLVKHGE\DSROLWLFDOSDUW\

3) The expenditure mentioned in sub-VHFWLRQ2a) shall include expenditure

incurred for––

a) any purpose which is an offence under, or is prohibited by, any law in

force in or outside India; or

b) providing a benefit or perquisite in any form to a person, who may or

may not be carrying on a business or exercising a profession, when its

acceptance by the person is in violation of any law or rule or regulation or

guideline governing the conduct of that person; or

58 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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c) compounding an offence under any law in force in or outside India; or

d) settling proceedings initiated in relation to contravention under any

law notified by the Central *RYHUQPHQWLQWKLVEHKDOI

35 Irrespective of any other provision of Chapter IV-D, the following amounts

shall not be allowed as deduction in computing the income chargeable under the head

“Profits and gains of business or profession”:—

a) any amount on account of––

i) tax paid on income; or

ii) tax paid by employer referred to in Schedule III

7DEOH6O1Ror

iii) tax paid in any other country for which relief is eligible under

section 159 or 160,

and shall include any surcharge or cess on such tax, by whatever name called;

bi) 30% of any sum payable to a resident, on which tax is deductible at

source under Chapter XIX-B and during the tax year, such tax has not been

deducted or, after deduction, has not been paid up to the due date specified in

section 2631), so, however, that—

A) where in respect of any such sum, tax is deducted in any

subsequent year, or is deducted during the tax year but paid after the due

date specified in section 2631), 30% of such sum shall be allowed as a

deduction in computing the income of the tax year, in which such tax has

been paid;

B) where the assessee is required to and fails to deduct whole

or any part of the tax under Chapter XIX-B on any such sum but he is

not deemed to be an assessee in default under section 3982), then for

the purposes of this sub-clause, the assessee shall be deemed to have

deducted and paid the tax on such sum on the date on which the return

has been filed by the payee referred to in section 3982);

ii) any interest, royalty, fees for technical services or other sum

chargeable under this Act which is payable––

A) outside India; or

B) in India to a non-UHVLGHQWZKLFKLVQRWDFRPSDQ\RUWRD

foreign company,

on which tax is deductible at source under Chapter XIX-B and during the tax

year, such tax, has not been deducted or after deduction, has not been paid up

to the due date specified in section 2631), so, however, that ––

I) Where in respect of any such sum, tax is deducted in any

subsequent year, or is deducted during the tax year but paid after the due

GDWHVSHFLILHGLQVHFWLRQ1), such sum shall be allowed as a deduction

in computing the income of the tax year, in which such tax has been paid;

II) where the assessee is required to and fails to deduct whole or

any part of the tax under Chapter XIX-B on any such sum but he is not

deemed to be an assessee in default under section 3982), then for the

purposes of this sub-clause the assessee shall be deemed to have deducted

and paid the tax on such sum on the date on which the return has been

filed by the payee as referred to in section 3982);

iii) any payment to a provident or other fund established for the benefit of

employees of the assessee, unless the assessee has made effective arrangements to

secure that tax shall be deducted at source under Chapter XIX-Bfrom any payments

made from the fund which are chargeable to tax under the head “Salaries”;

Amounts not

deductible in

certain

circumstances

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 59

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

c) any payment chargeable under the head “Salaries”, payable outside India

or to a non-resident on which tax is deductible at source under Chapter XIX-B and

such tax has not been deducted or, after deduction, has not been paid;

d) any amount––

i) paid by way of royalty, licence fee, service fee, privilege fee,

service charge or any other fee or charge, by whatever name called, which

is levied exclusively on; or

ii) which is appropriated, directly or indirectly, from,

a State Government undertaking by the State Government;

e) the expenditure incurred by a firm, assessable as such––

i) in the nature of salary, bonus, commission or remuneration, by

whatever name called KHUHLQUHIHUUHGDVUHPXQHUDWLRQWRDSDUWQHUZKR

is not a working partner; or

ii) on the remuneration to a working partner, and interest to any

partner, if it is––

A) not authorised by the partnership deed applicable for the

period for which such remuneration or interest is paid; or

B) authorised by and is as per the terms of partnership deed

but relates to the period prior to the date of such partnership deed,

or which was not authorised by the earlier partnership deed; or

iii) on the aggregate remuneration to all working partners

as authorised by the partnership deed, exceeding the amount computed

as under:––

A) on the first ൟ600000 of the book profit or in case of a loss,

ൟ300000 or at the rate of 90% of the book profit, whichever is

higher;

B) on the balance of the book profit, at the rate of 60%; or

iv) on interest to any partner as authorised by the partnership deed,

exceeding 12% simple interest per annum, so, however, that—

A) where an individual is a partner in a firm, on behalf, or for

WKHEHQHILWRIDQ\RWKHUSHUVRQVXFKSartner and the other person

being herein referred to as “partner in a representative capacity” and

“person so represented”, respectively),—

I) interest paid by the firm to such individual otherwise

than as partner in a representative capacity, shall not be taken

into account for the purposes of this clause;

II) interest paid by the firm to such individual as

partner in a representative capacity and interest paid by the

firm to the person so represented shall be taken into account

for the purposes of this clause;

B) where an individual is a partner in a firm otherwise than as

partner in a representative capacity, interest paid by the firm to such

individual shall not be taken into account for the purposes of this

clause, if such interest is received by him on behalf, or for the benefit,

of any other person;

60 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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v) in this clause––

A) “book profit” means the net profit, as shown in the profit

and loss account for the relevant tax year, computed as per

Chapter IV-D as increased by the aggregate amount of the

remuneration to all the partners of the firm, if such amount has been

deducted while computing the net profit;

B) “working partner” means an individual who is actively

engaged in conducting the affairs of the business or profession of

the firm of which he is a partner;

f) the expenditure incurred by an association of persons or a body of

individuals RWKHU WKDQ D FRPSDQ\ RU D FR-operative society or society

registered under the Societies Registration Act, 1860, or under any law

corresponding to that Act in force in any part of India) in the nature of interest,

salary, bonus, commission or remuneration, by whatever name called, made

to a member of such association or body, provided that—

i) where the interest has been paid by the association or the body

to its member and such member has also paid interest to the association

or the body, then only such excess interest, if any, paid by the association

or body shall not be allowed under this clause;

ii) where an individual is a member of an association or a body on

behalf, or for benefit of any other person, such member and any other

person shall be referred as “representative member” and “person so

represented”, respectively, then, the provisions of this clause––

A) shall not be applicable in respect of interest paid to or

received from, such individual otherwise than in his capacity as a

representative member;

B) shall be applicable in respect of interest paid to or received

from, an individual in his capacity as a representative member and,

the person so represented;

C) shall not be applicable in respect of interest paid to a

member, otherwise than as representative member, on behalf or for

WKHEHQHILWRIDQ\RWKHUSHUVRQ

36 1) The provisions of this section shall have effect irrespective of

anything to the contrary contained in any other provision of this Act

relating to computation of income under the head “Profits and gains of business

or profession”.

2) If the assessee incurs any expenditure for which payment has been or is

to be made to any “specified person”, which in the opinion of the Assessing

Officer is excessive or unreasonable having regard to the––

a) fair market value of the goods, services or facilities; or

b) legitimate needs of the business or profession of the assessee; or

c) benefit derived by or accruing to the assessee therefrom,

so much of the expenditure as considered excessive or unreasonable by him shall not

be allowed as a deductioQ

Expenses or

payments not

deductible in

certain

circumstances

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 61

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

3) For the purposes of sub-VHFWLRQ2) and this sub-section,––

a) “specified person” shall mean the following,––

i) in relation to an assessee mentioned in column B of the Table

below, the person referred to in column C thereof:—

Table

6O1R

Assessee

Specified person

Individual

Any relative of the assessee

Company

Any director of the company or

his relative

Firm

Partner of the firm or his UHODWLYH

Association of persons

Member of the association or

his relative

Hindu undivided family

Member of the family or his

relative;

ii) any person being an individual or company or firm or

association of persons or Hindu undivided family having substantial

interest in the business or profession of the assessee, or any director,

partner, member thereof or any relatives of such individual, director,

partner, member or any other company in which the first mentioned

company has substantial interest;

iii) a company, firm, association of persons, or Hindu undivided

family whose director, partner or member has substantial interest in the

business or profession of the assessee, or any director, partner or member

thereof and their relatives, as the case may be;

iv) any person carrying on a business or profession, where

assessee, being––

A) an individual or his relative; or

B) a company, its directors or their relatives; or

C) a firm, its partners or their relatives; or

D) an association of persons, its members or their relatives; or

E) a Hindu undivided family, its members or their relatives,

has substantial interest in the business or profession of such person;

b) a person is deemed to have “substantial interest in the business or

profession” if—

i) in a case where the business or profession is carried on by a

company, such person is, at any time during the tax year, the beneficial

RZQHU RI VKDUHV QRW EHLQJ VKDUHV HQWLWOHG WR D IL[HG UDWH RI GLYLGHQG

whether with or without a right to participate in profits) carrying not less

than 20% of the voting power; and

62 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

ii) in any other case, such person is, at any time during the tax year,

beneficially entitled to not less than 20% of the profits of such business or

SURIHVVLRQ

4) Where in respect of any expenditure incurred by the assessee, any payment

or aggregate of payments made in a day to a person exceeds ൟ10000 and is not made

through specified banking or online mode, then the expenditure by way of such

payments shall not be allowed as a GHGXFWLRQ

5) Where any deduction was made in any preceding tax year for a liability

incurred for any expenditure and payment in respect of such liability is made during

a subsequent tax year and if such payment or aggregate of payments made in a day

to a person exceeds ൟ10000 and is not made through specified banking or online

mode, such payment shall be deemed to be the income under the head “Profits and

gains of business or profession” in such subVHTXHQWWD[\HDU

6) For the purposes of sub-VHFWLRQV4DQG5), the figures “ൟ10000” shall be

read as “ൟ35000” in case the payment is made for plying, hiring or leasing of goods

FDUULDJHV

7) The provisions of sub-VHFWLRQV4DQG5) shall not be applicable in

cases and circumstances, as may be prescribed, having regard to the nature and

extent of banking facilities available, considerations of business expediency and

RWKHUUHOHYDQWIDFWRUV

8 1RWKLQJZLWKUHIHUHQFHWRPRGHRISD\PHQWFRQWDLQHd in any other

law in force or in any contract, shall apply in respect of any payment which has

been made through specified banking or online mode, in compliance of

sub-VHFWLRQV4WR7), and no plea shall be allowed to be raised, in any suit or

other proceeding on the ground that the payment was not made or tendered in

cash or in mode other than through specified banking or online mode

9) No deduction or allowance shall be allowed in respect of marked to

market loss or other expected loss, e[FHSWDVDOORZDEOHXQGHUVHFWLRQ1h

37 1) The sums payable, as specified in sub-VHFWLRQ2), which are otherwise

allowable as a deduction under this Act, shall be allowed as a deduction while

computing the income chargeable under section 26 only in the tax year in which

such sums are actually paid irrespective of––

a) any provision to the contrary in this Act; or

b) method of accounting regularly followed; or

c WKHWD[\HDULQZKLFKWKHOLDELOLW\ZDVLQFXUUHG

2) The sums payable for the purposes of sub-VHFWLRQ1), shall be––

a) tax, duty, cess, surcharge or fee, by whatever named called, levied

under any law in force;

b) contribution of the employer to a provident fund or superannuation

fund or gratuity fund or any fund for the welfare of employees;

c) amount payable by employer in lieu of any leave at the credit of the

employee;

d DQ\VXPUHIHUUHGWRLQVHFWLRQa);

e) interest on loans or advances or borrowings from specified financial

entities as per the terms and conditions of the agreement governing such loans

or advances or borrowings;

f) amount payable to the Indian Railways for use of railway assets; or

Certain

deductions

allowed on

actual payment

EDVLVRQO\

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 63

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Certain sums

deemed as

profits and gains

of business or

SURIHVVLRQ

g) amount payable by the assessee to a micro or small enterprise beyond

the time limit specified in section 15 of the Micro, Small and Medium

(QWHUSULVHV'HYHORSPHQW$FW

3) In case the amounts specified in sub-VHFWLRQ2), except the sum referred to in

FODXVHg) thereof, are paid after the end of the tax year in which the liability was

incurred, but on or before the due date of filing of return of income under section 2631)

IRUVXFKWD[\HDUWKHGHGXFWLRQWRZDUGVVXFKVXPVKDOOEHDOORZHGLQVXFKWD[\HDU

If interest on loans or advances

or borrowings

specified in

sub-VHFWLRQ2e) is converted into a loan or advance or debenture or any other

instrument by which the liability to pay is deferred to a future date, then it shall not

be deemed tRKDYHEHHQDFWXDOO\SDLG

5) If a deduction in respect of any sum payable under sub-VHFWLRQ2) has

already been allowed in any tax year when such liability was incurred, it shall not

be allowed again in any subsequent tax year when it is SDLG

6) The provisions of this section shall not apply to a sum received by the

assessee from any employee as contribution towards any of the funds referred to in

VHFWLRQ49o

7) For the purposes of this section, “specified financial entities” means a

public financial institution or State Financial Corporation or State Industrial

Investment Corporation or such class of non-banking financial companies as may

be notified by the Central Government or a scheduled bank or a co-operative bank

RWKHU WKDQ D primary agricultural credit society or a primary co-operative

DJULFXOWXUDODQGUXUDOGHYHORSPHQWEDQN

8) For the purposes of sub-VHFWLRQ2a), “the sum payable” means a sum for

which the assessee has incurred liability in the tax year even though such sum might not

KDYHEHHQSD\DEOHZLWKLQWKDW\HDUXQGHUWKHUHOHYDQWODZ

38 1) The following sums shall be deemed to be profits and gains of business

or profession and shall be chargeable to income-tax, in the manner specified below,

subject to the provisions of sub-VHFWLRQ2):––

a) where an allowance or deduction has been allowed in respect of any

loss, expenditure or trading liability incurred by the assessee during any tax

year, then,—

i) the value of any benefit accruing to the assessee by way of

cessation or remission of such trading liability, including a unilateral act

of write-off of such liability in his accounts, in a subsequent tax year in

which such benefit accrues; or

ii) any amount obtained by the assessee, whether in cash or

otherwise, in respect of such loss or expenditure incurred, in subsequent

tax year in which the amount is obtained,

whether the business or profession in respect of which the allowance or

deduction was made is in existence in such subsequent tax year or not;

b) in DFDVHZKHUHDQ\WDQJLEOHDVVHW>DVUHIHUUHGWRLQVHFWLRQ12ai@

which is owned by assessee, is sold, discarded, demolished or destroyed, and the

PRQH\VSD\DEOHIRUVXFKDVVHWWRJHWKHUZLWKWKHVFUDSYDOXH>$@H[FHHGVWKH

written down value of suFKDVVHWV>&@WKHVXPDVFRPSXWHGEHORZLQWKHWD[\HDU

in which the moneys payable for such asset becomes due––

i) where the moneys payable for such asset together with the scrap

value >$@ is less than the actual cost of such DVVHW>%@WKHQ—

>$@ – [C@RU

ii) in any other case,—

>%@ – >&@

64 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

c) in a case where an asset representing expenditure of a capital nature on

scientific research, referred to in section 1a)i) is sold, without having been

used for other purposes, and the sale proceeds together with the total deductions

allowed under that section exceed the amount of capital expenditure, the excess

or the amount of deduction so made, whichever is less, in the tax year in which

the asset was sold;

d LQDFDVHZKHUHDGHGXFWLRQKDVEHHQDOORZHGIRUDEDGGHEWRUSDUWRILW

under the provisions of section 2), and any amount subsequently recovered

exceeds the difference between such debt and the amount allowed, then the

amount in excess, in the tax year in which recovery is made;

e) in a case where a deduction has been allowed for any special reserve

FUHDWHG DQG PDLQWDLQHG XQGHU WKH SURYLVLRQV RI VHFWLRQ e), any amount

subsequently withdrawn from such reserve, in the tax year in which the

DPRXQWLVZLWKGUDZQ

2) The provisions of sub-VHFWLRQ1) shall apply subject to fulfilment of the

following conditions:—

a) in respect of sub-VHFWLRQ1a), only when an allowance or deduction

has been made in assessment for any tax year towards the trading liability, loss

or expenditure incurred;

b) in respect of sub-VHFWLRQ1b), only when the asset owned by the

assessee, has been used for the purpose of business or profession, and

depreciation has been claimed and allowed thereon under section 332);

c) in respect of sub-section 1c), only when the asset has not been used

IRURWKHUSXUSRVHV

3) Where the business or profession referred to in this section is no longer in

existence and there is income chargeable to tax under sub-VHFWLRQ1acd) or

e), in respect of that business or profession, any loss, not being a loss sustained in

speculation business, which arose in that business or profession during the tax year

in which it ceased to exist and which could not be set off against any other income

of that tax year shall, so far as may be, be set off against the income chargeable to

tax under the said clauses of that sub-VHFWLRQ

4) In respect of sums referred to in sub-VHFWLRQ1a), if the benefit referred

therein accrues to, or amount referred therein is obtained, by the successor in business,

the value of the benefit or the amount shall be chargeable to income-tax as income in

WKHKDQGVRIVXFFHVVRULQEXVLQHVV

5) The provisions of sub-VHFWLRQ1b), cdDQGe) shall apply in a tax year

HYHQLIWKHEXVLQHVVLVQRORQJHULQH[LVWHQFH

6) For the purposes of this section,––

a) “sold” includes a transfer by way of exchange or a compulsory

acquisition under any law for the time being in force but does not include a transfer,

in a scheme of amalgamation, of any asset by the amalgamating company to the

amalgamated company where the amalgamated company is an Indian company;

b) “successor in business” means––

the amalgamated company, where there has been an

amalgamation;

ii) the resulting company, where there has been a demerger;

iii) where the assessee is succeeded by any other person in that

business or profession, that other person;

iv) where a firm carrying on a business or profession is succeeded by

another firm, that other ILUP

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 65

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Computation of

DFWXDOFRVW

39 1) The actual cost of an asset used for the purposes of the business or profession

shall be the actual cost to the assessee, as reduced by the following amounts:—

a) part of cost of asset, if any, met by any other person or authority,

directly or indirectly;

b) goods and services tax paid in respect of which credit of input tax

has been claimed and allowed under the relevant law;

c) duty of excise or additional duty leviable under section 3 of the Customs

Tariff Act, 1975 in respect of which a claim of credit has been made and allowed

under the Central Excise Rules, 1944;

d) subsidy, grant or reimbursement, by whatever name called, if any,

relatable to the acquisition of the asset, received, directly or indirectly, by the

assessee from—

i) the Central Government;

ii) a State Government;

iii) any authority established under any law; or

iv DQ\RWKHUSHUVRQ

2) The payment or aggregate of payments exceeding ൟ10000 in a day for

acquisition of an asset or part thereof, made to a person in a mode otherwise than by

specified banking or online mode, shall be excluded from the actual cost of that DVVHW

3) In a case where the subsidy, grant or reimbursement referred to in

sub-VHFWLRQ 1d) is not directly relatable to the asset acquired, the amount of

reduction under sub-VHFWLRQ1d) shall be determined as under:

ܣൈ൬^ܤ

ܥ^൰

where,—

A = total amount of subsidy, grant or reimbursement not directly relatable to

the asset;

B = cost of the asset acquired for which actual cost is to be determined;

C = cost of all the assets in respect of or in reference to which the subsidy or

JUDQWRUUHLPEXUVHPHQWLVVRUHFHLYHG

4) In circumstances specified under column B of the Table below, the actual

cost of the asset shall be as specified LQFROXPQ&WKHUHRI

Table

Sl 1R

Specified circumstances

Determination of actual cost

Where capital asset is transferred

by an amalgamating company to an

amalgamated company being an

Indian company in a scheme of

amalgamation

Actual cost to amalgamated

company shall be the same as it

would have been if the amalgamating

company had continued to hold such

capital asset for the purpose of its

RZQEXVLQHVV

Where capital asset is transferred

by a demerged company to a resulting

company being an Indian company in

a demerger

Actual cost to resulting company

shall be the same as it would have

been, if the demerged company had

continued to hold such asset for the

purpose of its own business, which

shall not exceed the written down

value of such capital asset in the

KDQGVRIGHPHUJHGFRPSDQ\

66 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

Where inventory is converted

into or treated as a capital asset

Fair Market Value of such

inventory

date

conversion, as determined in the

manner as may be SUHVFULEHG

Where asset is acquired by the

assessee

way

gift

LQKHULWDQFH

Actual cost to the previous

owner as reduced by—

depreciation

actually

allowed in respect of tax year

commencing on 1st April, 1986

or any earlier tax year; and

b) depreciation allowable for

tax year commencing on or after

1st April,1987 under this Act or

under the Income-tax Act,

1961 RI , as if such

asset was the only asset in the

UHOHYDQWEORFNRIDVVHW

Where a building, being the

property of the assessee, is put to use

for the purpose of business or

profession during the tax year

Actual cost of the building as

reduced by the depreciation—

a) that would have been

allowable had the building

been used for the purpose of

business or profession from

the date of acquisition; and

b) calculated at the rate

in force on the date on

which such asset was put to

use for the purpose of

business or profession

Where capital asset is transferred

by—

a) a holding company to its

subsidiary company; or

b) a subsidiary company to its

holding company,

and the conditions of section 701c)

DQG d), as the case may be, are

VDWLVILHG

Actual cost to the transferee

company shall be the same as it

would have been, if the transferor

company had continued to hold

such asset for the purpose of its

RZQEXVLQHVV

Where

asset,

which

previously belonged to the assessee

and had been used by him for the

purpose

his

business

profession, is reacquired by the

DVVHVVHH

a) Actual cost of the asset in

the hands of assessee, when it was

first acquired, as reduced by—

depreciation

actually

allowed in respect of tax year

commencing on 1st April,1986

or any earlier tax year; and

ii) depreciation allowable

for tax year commencing on or

after 1st April, 1987 under this

Act or under the Income-tax

Act, 1961 RI , as if

such asset was the only asset in

the relevant block of asset; or

b) actual price for which

such asset is reacquired by the

assesse,

ZKLFKHYHULVORZHU

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 67

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Where an asset is acquired by the

assessee from previous owner and

subsequently asset is given back to

the previous owner by way of lease,

hire or otherwise, and—

a) the asset was being used

for the purpose of business or

profession

the

owner; and

depreciation

has

been

claimed by the previous owner

Actual cost of asset to the

assessee shall be the written down

value of the asset in the hands of

the previous owner at the time of

WUDQVIHUE\WKHSUHYLRXVRZQHU

Where an

asset is used in

business after it ceases to be used for

scientific research related to that

business

and

deduction

allowable under VHFWLRQ3

Actual cost of asset as reduced

by deduction allowed

for the

capital asset under section 1a)

i) or under VHFWLRQ1iv) of the

Income-tax Act, 196143 of 1961)

Where the assessee had acquired

an asset outside India, as a non-

resident, and the asset is brought by

him to India and put to use in his

business or profession in India

Actual cost of the asset as

reduced by the depreciation––

a) that would have been

allowable had the asset been

used for the purpose of business

or profession in India since the

date of its acquisition; and

b) calculated at the rate in

IRUFH

Where capital asset is acquired

under the scheme of corporatisation

of a recognised stock exchange

approved by the Securities and

Exchange Board of India

Actual cost of the asset, as if

WKHUHZDVQRFRUSRUDWLVDWLRQ

Where

deduction

under

section 46 was allowed or allowable

in respect of the capital asset—

i) to the assessee; or

ii) to any person and the

assessee acquires or receives

such asset through special modes

RIDFTXLVLWLRQIURPVXFKSHUVRQ

b) Where deduction allowed

under section 46 in respect of a

capital

asset

becomes deemed

income as per section 9b

a) Actual cost shall be deemed

to be nil

b) Actual cost of the asset as

reduced by the depreciation,—

i) that would have been

allowable had the asset been

used for the purpose of

business

since

date

acquisition; and

ii) calculated at the rate in

IRUFH

Where any amount is paid or

payable as interest in connection

with the acquisition of an asset

Actual cost shall not include so

much of such amount as is

relatable to any period after such

DVVHWLVILUVWSXWWRXVH

68 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

5) Irrespective of anything contained in sub-VHFWLRQ4), other than serial number

8 of the Table in the said sub-section, in a case where the asset is acquired by the

assessee, its actual cost shall be such amount as may be determined by the Assessing

Officer having regard to all the circumstances of the case, where—

a) the asset was used by any other person for the purposes of his

business, before such acquisition; and

b) the Assessing Officer is satisfied that the main purpose of the transfer

of the asset, directly or indirectly, ZDVWRUHGXFHWD[OLDELOLW\E\FODLPLQJ

GHSUHFLDWLRQRQHQKDQFHGDFWXDOFRVW

6) The determination of actual cost under sub-VHFWLRQ5) shall be made with

WKHSULRUDSSURYDORIWKH-RLQW&RPPLVVLRQHU

7) For the purposes of this section, “special modes of acquisition” means

acquisition—

a) by way of a gift or will or an irrevocable trust; or

b) upon distribution on the liquidation of a company; or

c) by such mode of transfer as is referred to in section 701ac), d), e),

j), zd), zeDQGzf

40 1) For the purposes of computation of income under the head “Profits and

gains of business or profession”, cost of acquisition of an asset which becomes

property of––

a) an amalgamated company under a scheme of amalgamation; or

b) an assessee, under a gift, or will, or an irrevocable trust, or on total

or partial partition of a Hindu undivided family,

when sold as stock-in-trade shall be the sum of—

i) cost of acquisition of the said asset in the hands of the amalgamating

FRPSDQ\LQFDVHRIFODXVHa), or WKHWUDQVIHURURUGRQRULQFDVHRIFODXVHb);

ii) any cost of improvement made;

iii) any expenditure incurred by the amalgamating company or

transferor or donor, as the case may be, wholly and exclusively in connection

ZLWKVXFKWUDQVIHU

2) This section shall not apply to an asset referred to in section 676

41 1) For the purposes of computation of income under the head “Profits and

gains of business or profession”, written down value means—

a) in case the asset is acquired in the tax year, the actual cost to the

assessee;

b) in case the asset is acquired before the tax year, actual cost to the

assessee less depreciation actually allowed under this Act or under the

Income-tax Act, 1961;

c) in case of block of assets, the written down value computed in the

following manner:

>$-D) + B-&@-E, where

A = the written down value of the block of assets in the immediately

preceding tax year;

B = actual cost of any asset falling within that block, acquired during the

tax year;

C = moneys payable together with scrap value, if any, in respect of any

asset falling within the block, which is sold, transferred, demolished, destroyed

or discarded during the tax year, where “C” shall not exceed (A-D)+B;

Special

provision for

computation of

cost of

acquisition of

FHUWDLQDVVHWV

Written down

value of

depreciable

DVVHW

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 69

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

D = depreciation actually allowed in respect of block of assets in

relation to the said immediately preceding tax year;

E = in the case of a slump sale, the actual cost of the asset falling

within that block as reduced by—

i) depreciation actually allowed in respect of tax year

commencing on 1st April, 1986 or any earlier tax year; and

ii) depreciation allowable for tax year commencing on or after

1st April, 1987 under this Act or under the Income-tax Act, 1961, as

if such asset was the only asset in the relevant block of asset

2) Where any block of asset is transferred by—

a) a holding company to its subsidiary company and the conditions

RIVHFWLRQ1c) are satisfied;

b) a subsidiary company to its holding company and the conditions

RIVHFWLRQ1d) are satisfied; or

c) amalgamating company to the amalgamated company being an

Indian company,

then the actual cost of the block of assets, irrespective of anything contained in

section 39, in the hands of transferee company or amalgamated company, as the

case may be, shall be the same as written down value of the block of assets as

in the case of the transferor company or the amalgamating company in the

immediately preceding tax year as reduced by depreciation actually allowed in

UHVSHFWRIWKDWEORFNRIDVVHWLQUHODWLRQWRWKDWWD[\HDU

3) Where any asset, forming part of a block of assets is transferred by a

demerged company to a resulting company, the written down value of block of

assets of demerged company for the immediately preceding tax year, shall be

reduced by the written down value of the assets transferred to the resulting

FRPSDQ\SXUVXDQWWRVXFKGHPHUJHU

4) Where any asset, forming part of a block of assets is transferred by a

demerged company to a resulting company then the actual cost of the block of

assets, irrespective of anything contained in section 39, for resulting company

shall be the written down value of the assets transferred from the demerged

FRPSDQ\LPPHGLDWHO\EHIRUHVXFKGHPHUJHU

5) Where any block of assets is transferred by a private company or

unlisted public company to a limited liability partnership and the conditions in

VHFWLRQ 1ze) are satisfied, then the actual cost of the block of assets,

irrespective of anything contained in section 39, in the hands of limited liability

partnership shall be written down value in the hands of said company as on the

GDWHRIFRQYHUVLRQRIWKHFRPSDQ\LQWROLPLWHGOLDELOLW\SDUWQHUVKLS

6) Where any asset forming part of the block of assets is transferred to a

company under the scheme of corporatisation of a recognised stock exchange in

India approved by the Securities and Exchange Board of India, the written down

value of the block of assets in the hands of such company, shall be the written

GRZQYDOXHRIWKHDVVHWVWUDQVIHUUHGLPPHGLDWHO\EHIRUHVXFKWUDQVIHU

7) In a case of succession in business or profession under section 313,

ZKHUHDQDVVHVVPHQWLVPDGHLQWKHKDQGVRIVXFFHVVRUXQGHUVHFWLRQ2), the

written down value of any asset or block of assets shall be the amount which

would have been taken as its written down value, if the assessment had been

PDGHGLUHFWO\RQWKHSHUVRQVXFFHHGHGWR

70 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

8) For the purposes of this section, any allowance in respect of any

GHSUHFLDWLRQ FDUULHG IRUZDUG XQGHUVHFWLRQ11) shall be deemed to be the

GHSUHFLDWLRQDFWXDOO\DOORZHG

9) Where an assessee was not required to compute his total income for the

purposes of this Act for any tax year or tax years preceding the tax year under

consideration,—

a) the actual cost of an asset shall be adjusted by the amount attributable

to the revaluation of such asset, if any, in the books of account;

b) the total amount of depreciation on such asset provided in the books

of account of the assessee in respect of such tax year or tax years preceding

the tax year under consideration shall be deemed to be the depreciation

actually allowed under this Act for the purposes of this clause; and

c WKHGHSUHFLDWLRQDFWXDOO\DOORZHGXQGHUFODXVHb) shall be adjusted

E\WKHDPRXQWRIGHSUHFLDWLRQDWWULEXWDEOHWRVXFKUHYDOXDWLRQRIWKHDVVHW

10) For the purposes of this section, where the income of an assessee is

derived, in part from agriculture and in part from business chargeable to income-tax

under the head “Profits and gains of business or profession”, for computing the

written down value of assets acquired before the tax year, the total amount of

depreciation shall be computed as if the entire income is derived from the business

of the assessee under the head “Profits and gains of business or profession” and the

depreciation so computed shall be deemed to be the depreciation actually allowed

under this Act or under the Income-WD[$FW

11) For the purposes of this section, the term “sold” shall have the meaning

DVVLJQHGWRLWLQVHFWLRQ6a

42 1) Irrespective of anything contained in any other provision of this Act,

where at the time of making payment during the tax year, there is a variation in

liability of an assessee as expressed in Indian currency, due to change in rate of

exchange, in relation to an asset acquired for the purpose of business or profession

from a country outside India, it shall be dealt with in the manner specified in

sub-VHFWLRQV2DQG3

2) For this section, the liability shall exclude any part met directly or

indirectly by any other person or authority and the “variation in liability” shall be

computed as—

A = B-C

where,—

A = variation in liability;

B = payment expressed in Indian currency at the time when it is made—

a) towards the whole or part of the cost of asset; or

b) towards repayment of the whole or part of the moneys

borrowed, directly or indirectly, along with interest in foreign currency,

specifically for acquiring such asset;

C = liability, corresponding to the amount referred in B, in Indian

currency at the time of acquisition of such asset

3) The variation in liability shall be added or reduced from the—

a) actual cost of the asset as referred in section 39; or

b) expenditure of capital nature referred to in section i) or

1ai); or

c FRVWRIDFTXLVLWLRQRIDFDSLWDODVVHWQRWEHLQJa capital asset referred

to in section 74) for the purpose of section 72,

Capitalising

impact of

foreign

exchange

IOXFWXDWLRQ

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 71

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Taxation of

foreign

exchange

IOXFWXDWLRQ

Amortisation of

certain

preliminary

H[SHQVHV

and the amount arrived at after such addition or deduction shall be taken to be the

actual cost of the asset or the amount of expenditure of a capital nature or, as the

FDVHPD\EHWKHFRVWRIDFTXLVLWLRQRIWKHFDSLWDODVVHW

4) Where the assessee has entered into a contract with an authorised dealer as

defined in section 2 of the Foreign Exchange Management Act, 1999, for providing him

with a specified sum in a foreign currency on or after a stipulated future date at the rate

of exchange specified in the contract to enable him to meet the whole or any part of the

said liability, the amount, if any, to be added to, or deducted from, the actual cost of the

asset or the amount of expenditure of a capital nature or, as the case may be, the cost of

acquisition of the capital asset under this section shall, in respect of so much of the sum

specified in the contract as is available for discharging the said liability, be computed

ZLWKUHIHUHQFHWRWKHUDWHRIH[FKDQJHVSHFLILHGWKHUHLQ

43 1) Subject to the provisions of section 42, any gain or loss arising on

account of change in foreign exchange rates on foreign currency transactions shall

be treated as income or loss, as the case may be, and shall be computed as per the

income computation and disclosure standards notified under section 2762

2) The provisions of sub-VHFWLRQ1) shall be applicable to all foreign currency

transactions, including those relating to—

a) monetary items and non-monetary items;

b) translation of financial statements of foreign operations;

c) forward exchange contracts; and

d IRUHLJQFXUUHQF\WUDQVODWLRQUHVHUYHV

44 1 ,I DQ DVVHVVHH EHLQJ DQ ,QGLDQ FRPSDQ\ RU D SHUVRQ RWKHU WKDQ D

company), who is resident in India, incurs any expenditure specified in sub-VHFWLRQ2)—

a) before the commencement of its business; or

b) after the commencement of its business, in connection with the

extension of its undertaking or in connection with its setting up a new unit,

the assessee shall be allowed a deduction of an amount equal to one-fifth of such

expenditure for each of the five successive tax years beginning with—

i WKHWD[\HDULQZKLFKWKHEXVLQHVVFRPPHQFHVIRUFODXVHa); or

ii) the tax year in which the extension of the undertaking is completed

or the nHZXQLWFRPPHQFHVSURGXFWLRQRURSHUDWLRQIRUFODXVHb

2) The expenditure referred to in sub-VHFWLRQ1) shall be—

a) the expenditure in connection with—

i) preparation of feasibility report;

ii) preparation of project report;

iii) conducting market survey or any other survey necessary for

the business;

iv) engineering services relating to the business;

b) legal charges for drafting any agreement between the assessee and any

other person for any purpose relating to the setting up or conduct of the business;

c LQDGGLWLRQWRH[SHQGLWXUHLQFODXVHVaDQGb), if the assessee is a

company,—

i) legal charges for drafting and printing of the Memorandum and

Articles of Association of the company;

72 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

ii) fees for registering the company under the provisions of the

Companies Act, 2013;

iii) expenditure in connection with the issue, for public

subscription, of shares in or debentures of the company, being

underwriting commission, brokerage and charges for drafting, typing,

printing and advertisement of the prospectus; and

d VXFKRWKHULWHPVRIH[SHQGLWXUHQRWEHLQJH[SHQGLWXUHHOLJLEOHIRUDQ\

allowance or deduction under any other provision of this Act), as may beSUHVFULEHG

3) In relation to expenditure specified in sub-VHFWLRQ2a), the assessee shall

furnish a statement containing the particulars of the expenditure in such form and

manner, as may be prescribed

4) The allowable deduction under sub-VHFWLRQ 1) in respect of aggregate of

expenditure referred to in sub-VHFWLRQ2) shall be restricted to 5%—

a) of the cost of the project; or

b) of the capital employed in the business of the company, where the

DVVHVVHHLVDQ,QGLDQFRPSDQ\DWLWVRSWLRQ

5) For the purposes of this section,—

a) “cost of the project” means the actual cost of the fixed assets, being

land, buildings, leaseholds, plant, machinery, furniture, fittings and railway

VLGLQJVLQFOXGLQJH[SHQGLWXUHRQGHYHORSPHQWRIODQGDQGEXLOGLQJVDQG—

i) for cases under sub-VHFWLRQ1a), the actual cost as shown in

the books of the assessee as on the last day of the tax year in which the

business commences;

ii) for cases under sub-VHFWLRQ1b), the actual cost as shown in

the books of the assessee as on the last day of the tax year in which either

the extension of the undertaking is completed, or the new unit

commences production or operations, as the case may be, in so far as

such fixed assets have been acquired or developed in connection with

the extension of the undertaking or setting up of new unit;

b) “capital employed in the business of the company” means—

i) in cases under sub-VHFWLRQ1a), the aggregate of the issued

share capital, debentures and long-term borrowings as on the last day of

the tax year in which the business of the company commences;

ii) in a case under sub-VHFWLRQ1b), the aggregate of the issued

share capital, debentures and long-term borrowings as on the last day of

the tax year in which the extension of the undertaking is completed or,

as the case may be, the new unit commences production or operation, in

so far as such capital, debentures and long-term borrowings have been

issued or obtained in connection with the extension of the undertaking

or the setting up of the new unit of the company;

c) “long-term borrowings” means—

i) any moneys borrowed by the company from Government or

Industrial Finance Corporation of India Limited or any other financial

institution whicK LV HOLJLEOH IRU GHGXFWLRQ XQGHU VHFWLRQ e) or any

EDQNLQJLQVWLWXWLRQQRWEHLQJDILQDQFLDOLQVWLWXWLRQUHIHUUHGWRDERYHRU

ii) any moneys borrowed or debt incurred by it in a foreign

country in respect of the purchase outside India of capital plant and

machinery, where the tenure of moneys borrowed or debt is not less than

VHYHQ\HDUV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 73

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Expenditure on

scientific

UHVHDUFK

6) If the assessee is a person, other than a company or a co-operative society,

no deduction shall be admissible under sub-VHFWLRQ1) unless,—

a) the accounts of the assessee for the year or years in which the

expenditure specified in sub-VHFWLRQ2) is incurred have been audited by an

accountant before the specified date referred to in section 63; and

b) the assessee furnishes for the first year in which the deduction under this

section is claimed, the report of such audit by such date in such form duly signed

and verified by such accountant and setting forth such particulars, as may be

SUHVFULEHG

7) If an undertaking of Indian company entitled for deduction under

sub-VHFWLRQ 1) is transferred before expiry of five years specified in the said

sub-section, in a scheme of amalgamation, to another Indian company, then—

a) no deduction under sub-VHFWLRQ1) shall be allowed to the amalgamating

company for the tax year in which amalgamation takes place; and

b) all provisions of this section shall continue to apply to the

amalgamated company as they would have applied to the amalgamating

company, as if the amalgamation had QRWWDNHQSODFH

8) If an undertaking of Indian company entitled for deduction under

sub-VHFWLRQ1) is transferred before five years specified in the said sub-section, in a

scheme of demerger to another company, then—

a) no deduction under sub-VHFWLRQ1) shall be allowed to the demerged

company for the tax year in which demerger takes place; and

b) all provisions of this section shall continue to apply to the resulting

company as they would have applied to the demerged company, as if the

demerger had QRWWDNHQSODFH

9) If a deduction under this section is claimed and allowed for any tax year in

respect of any expenditure referred to in sub-VHFWLRQ2), deduction shall not be

allowed for such expenditure under any other provision of this Act for the same or

DQ\RWKHUWD[\HDU

45 1)a) A deduction shall be allowed for any expenditure, being in the

nature of––

i) capital expenditure, but not on acquisition of land which is acquired

as such or as part of any property; or

ii) revenue expenditure,

incurred on scientific research related to the business of the assessee subject to

SURYLVLRQVRIWKLVVHFWLRQ

b) A deduction shall also be allowed under this sub-section in respect of the

DJJUHJDWHRIH[SHQGLWXUHQRWEHLQJLQWKHQDWXUHRIFDSLWDOH[SHQGLWXUHUHODWHGWR

business, incurred on—

i) salary to an employee engaged in such scientific research; or

ii) purchase of materials used in such scientific research,

where such expenditure is incurred within three years immediately preceding the

commencement of business, to the extent certified by the prescribed authority as

incurred on such research and such expenditure shall be deemed to have been

incurred in the tax year in which the business is commenced

c) For the purposes of this sub-section, the aggregate of capital

expenditure incurred within three years immediately preceding the

commencement of business shall be deemed to have been incurred in the tax

year in which the business is commenced

74 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

39 of 1970

2i) A deduction shall be allowed in respect of any expenditure on scientific

research LQFXUUHG QRW EHLQJ H[SHQGLWXUH LQ WKH QDWXUH RI FRVW RI DQ\ ODQG RU

building) by a company engaged in the business of—

A) bio-technology; or

B) manufacture or production of any article or thing, which is not

specified in Schedule XIII,

on in-house research and development facility as approved by the prescribed

authority, subject to the conditions and manner, as may be prescribed

ii) No deduction shall be allowed under this sub-section to a company

approved under sub-VHFWLRQ3bii)

iii) No deduction shall be allowed in respect of the expenditure mentioned in

FODXVHi) under any other provision of this Act

iv) The expenditure under FODXVHi) shall be allowed subject to such conditions and

on furnishing of documents in such form and manner, as may be prescribed

v) For the purposes of this sub-section, “expenditure on scientific research”, in

relation to drugs and pharmaceuticals, shall include expenditure incurred on clinical

drug trial, obtaining approval from any regulatory authority under any Central Act or

State Act or Provincial Act and filing an application for a patent under the Patents Act,

3) A deduction shall be allowed for any sum, paid to—

ai) a research association having the object of undertaking scientific

research or to a University, college or institution to be used for scientific

research; or

ii) a research association having the object of undertaking research in

social science or statistical research or to a University, college or institution to

be used for research in social science or statistical research;

b) a company which is––

i) registered in India having the main object of scientific research

and development; and

ii) approved by such authority, for the purposes of this clause in

such manner and subject to such conditions, as may be prescribed;

ci) a national laboratory; or

ii) a University; or

iii) an Indian Institute of Technology; or

iv) a specified person,

with a specific direction that the said sum shall be used for scientific research

undertaken under a programme approved in this behalf by the prescribed authority

4) For the purposes of sub-VHFWLRQ3),––

a) the expenditure shall be allowed subject to such conditions and on

furnishing of documents in such form and manner, as may be prescribed; and

b LQUHVSHFWRIFODXVHa) of the said sub-section, only such association,

University, college or other institution shall be eligible for deduction, which for

the time being is approved in the manner and subject to such conditions, as may

be prescribed, and is specified by the CenWUDO*RYHUQPHQWE\QRWLILFDWLRQ

5) The deduction for any sum under sub-VHFWLRQ3) shall not be denied merely

on the ground that subsequent to the payment of such sum by the assessee, the

approval granted to such entities or the programme undertaken by entities as

mentioned in sub-VHFWLRQ3cKDVEHHQZLWKGUDZQ

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 75

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Capital

expenditure of

specified

EXVLQHVV

6) Where a deduction is allowed for any tax year under this section in respect of

expenditure, represented wholly or partly by an asset, no deduction shall be allowed under

section 3) IRUWKHVDPHRUDQ\RWKHUWD[\HDULQUHVSHFWRIWKDWDVVHW

7) The provisions of section 11) in respect of depreciation shall apply

in relation to deductions allowable for capital expenditure under sub-VHFWLRQ1

8) No deduction in respect of the sum mentioned in sub-VHFWLRQ3c) shall be

allowed under any other prRYLVLRQRIWKLV$FW

9) If any question arises under this section as to whether, and if so, to what extent

any activity constitutes or constituted scientific research, or any asset is or was being

used, for scientific research, the Board shall refer the question to—

a) the Central Government, when such question relates to any activity

under sub-VHFWLRQ3a), and its decision shall be final;

b) the prescribed authority, when such question relates to any other activity

RWKHUWKDQWKHDFWLYLW\VSHFLILHGLQFODXVHa)ZKRVHGHFLVLRQVKDOOEHILQDO

10) When an amalgamating company, in a scheme of amalgamation, sells or

RWKHUZLVHWUDQVIHUVWRWKHDPDOJDPDWHGFRPSDQ\EHLQJDQ,QGLDQFRPSDQ\DQ\DVVHW

representing capital expenditure on scientific research, the provisions of this section

shall apply to the amalgamated company as they would have applied to the

DPDOJDPDWLQJFRPSDQ\LIWKHODWWHUKDGQRWVRVROGRURWKHUZLVHWUDQVIHUUHGWKHDVVHW

11) For the purposes of this section,—

a) “National Laboratory” means a scientific laboratory functioning at the

national level under the aegis of the Indian Council of Agricultural Research, the

Indian Council of Medical Research, the Council of Scientific and Industrial

Research, the Defence Research and Development Organisation, the Department

of Electronics, the Department of Bio-Technology or the Department of Atomic

Energy and which is approved as a National Laboratory by such authority and in

such manner, as may be prescribed;

b) “salary” has the meaning assigned to it in section 16 read with

section 18 subject to the following modifications:

i) LQVHFWLRQFODXVHVeDQGj) shall be omitted;

ii) in section 18, the references to “assessee” shall be construed as

references to “employee of former employee” and the reference to “his

employer or former employer” and “an employer or a former employer”

shall be construed as reference to “the assessee”;

c) “specified person” means such person approved by the prescribed

authority; and

d) “land”, for the purpose of sub-VHFWLRQ1ai), includes any interest

LQODQG

46. 1) An assessee, at his option, shall be allowed a deduction of the whole of the

capital expenditure incurred, wholly and exclusively, for the purposes of any specified

EXVLQHVVFDUULHGRQE\KLPGXULQJWKHWD[\HDULQZKLFKVXFKH[SHQGLWXUHLVLQFXUUHG

2) Where the expenditure referred to in sub-VHFWLRQ1) is incurred prior to the

commencement of its operations and such expenditure is capitalised in the books of

account as on the date of commencement of its operations, it shall be allowed during the

WD[\HDULQZKLFKVXFKEXVLQHVVLVFRPPHQFHG

3) This section shall apply to the specified business fulfilling all of the following

conditions:—

a) it is not set up by splitting up, or the reconstruction, of an already existing

business;

b) it is not set up by the transfer of machinery or plant previously used for

any purpose to the specified business;

c) if the business is of the nature referred to in sub-VHFWLRQ11diii) and

such business—

76 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

19 of 2006

i) is owned by a company formed and registered in India under the

Companies Act, 2013 or by a consortium of such companies or by an

authority or a board or a corporation established or constituted under any

Central Act or State Act;

ii) has been approved by the Petroleum and Natural Gas Regulatory

%RDUGHVWDEOLVKHGXQGHUVHFWLRQ1) of the Petroleum and Natural Gas

Regulatory Board Act, 2006 and notified by the Central Government in

this behalf;

iii) has made not less than such proportion of its total pipeline

capacity as specified by regulations made by the Petroleum and Natural

Gas RegulatRU\%RDUGHVWDEOLVKHGXQGHUVHFWLRQ1) of the Petroleum

and Natural Gas Regulatory Board Act, 2006 available for use on

common carrier basis by any person other than the assessee or an

associated person; and

iv) fulfils any other condition as may be prescribed;

d) if the business is of the nature referred to in sub-VHFWLRQ11dxiv),

such business,—

i) is owned by a company registered in India or by a consortium of

such companies or by an authority or a board or corporation or any other

body established or constituted under any Central Act or State Act;

ii) entity referred to in sub-FODXVHi) has entered into an agreement

with the Central Government or a State Government or a local authority

or any other statutory body for developing or operating and maintaining

RUGHYHORSLQJRSHUDWLQJDQGPDLQWDLQLQJDQHZLQIUDVWUXFWXUHIDFLOLW\

4) No deduction shall be allowed under the provisions of Chapter VIII-C in

relation to such specified business for the same or any other tax year, if a deduction

under sub-VHFWLRQ1LVFODLPHGDQGDOORZHG

5) No deduction in respect of the expenditure referred to in sub-VHFWLRQ1) shall

be allowed to the assessee under any other section in any tax year or under this

section in any other tax year, if the deduction has been claimed and allowed to him

XQGHUWKLVVHFWLRQ

6) The provisions of this section shall apply to the specified business referred

to in column B of the Table below if it commences its operations as specified in

column C WKHUHRI

Table

Sl1R

Nature of specified business

Date of commencement

of operations being on or

after

Laying and operating a cross-

country natural gas pipeline network for

distribution, including storage facilities

being an integral part of such network

VW$SULO

Building and operating a new hotel

of two star or above category as classified

by the Central Government

VW$SULO

Building and operating a new

hospital with at least 100 beds for

patients

VW$SULO

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 77

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Developing and building a housing

project under a scheme for slum

redevelopment or rehabilitation framed

by the Central Government or a State

Government, and which is notified by the

Board in this behalf in accordance with

WKHJXLGHOLQHVDVPD\EHSUHVFULEHG

VW$SULO

Developing and building a housing

project under a scheme for affordable

housing

framed

the

Central

Government or a State Government, and

which is notified by the Board in this

behalf in accordance with the guidelines

DVPD\EHSUHVFULEHG

VW$SULO

A new plant or a newly installed

capacity in an existing plant for

production of fertilizer

VW$SULO

Setting up and operating an inland

container depot or a container freight

station notified or approved under the

Customs Act, 1962 52 of 1962

VW$SULO

Bee-keeping and production of

honey and beeswax

VW$SULO

Setting

and

operating

warehousing facility for storage of sugar

VW$SULO

Laying and operating a slurry

pipeline for the transportation of iron ore

1st $SULO

Setting up and operating a semi-

conductor

wafer

fabrication

manufacturing unit, and which is notified

by the Board in this behalf in accordance

ZLWKWKHJXLGHOLQHVDVPD\EHSUHVFULEHG

VW$SULO

Developing,

operating

and

maintaining, or developing, operating and

PDLQWDLQLQJDQ\LQIUDVWUXFWXUHIDFLOLW\

1st $SULO

In all other cases

VW$SULO

7) Where the assessee builds a hotel of two star or above category as classified

by the Central Government and subsequently, transfers the hotel operation thereof to

another person while retaining its ownership, the assessee shall be deemed to be

carrying on the specified business referred to in sub-VHFWLRQ11d)iv)

8) The provisions contained in sections 1226) and 1408) DQG13) shall, so far

as may be, apply to this section in respect of goods or services or assets held for the

purposes of the specLILHGEXVLQHVV

9) Any asset for which a deduction is claimed and allowed under this section––

a) shall be used only for the specified business for a period of eight years

beginning with the tax year in which such asset is acquired or constructed;

78 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) is used for the purpose other than specified business during the period

referred to LQFODXVHa), and is not chargeable to tax under section 2k), then

the total amount of deduction so claimed and allowed in one or more tax years,

as reduced by the amount of depreciation allowable under section 33, as if no

deduction under this section was allowed, shall be deemed to be the income

chargeable under the head “Profits and gains of business or profession” of the

tax year in which WKHDVVHWLVVRXVHG

10) The provisions of sub-VHFWLRQ9b) shall not apply to a company which

KDV EHFRPH D VLFN LQGXVWULDO FRPSDQ\ XQGHU VHFWLRQ 1) of the Sick Industrial

&RPSDQLHV6SHFLDO3URYLVLRQV$FWDVLWVWRRGbefore its repeal by the Sick

,QGXVWULDO &RPSDQLHV 6SHFLDO 3URYLVLRQV 5HSHDO $FW GXULQJ WKH SHULRG

specified in sub-section 9a)

11) For the purposes of this section,—

a) “associated person”, in relation to the assessee, means a person,—

i) who participates, directly or indirectly, or through one or more

intermediaries in the management or control or capital of the assessee;

ii) who holds, directly or indirectly, shares carrying at least 26% of

the voting power in the capital of the assessee;

iii) who appoints more than half of the board of directors or

members of the governing board, or one or more executive directors or

executive members of the governing board of the assessee; or

iv) who guarantees at least 10% of the total borrowings of the assessee;

b) “cold chain facility” means a chain of facilities for storage or transportation

of agricultural and forest produce, meat and meat products, poultry, marine and

dairy products, products of horticulture, floriculture and apiculture and processed

food items under scientifically controlled conditions including refrigeration and

other facilities necessary for the preservation of such produce;

c) “infrastructure facility” means—

i) a road including toll road, a bridge or a rail system;

ii) a highway project including housing or other activities being an

integral part of the highway project;

iii) a water supply project, water treatment system, irrigation project,

sanitation and sewerage system or solid waste management system;

iv) a port, airport, inland waterway, inland port or navigational channel

in the sea;

d) “specified business” means any one or more of the following

businesses:—

i) setting up and operating a cold chain facility;

ii) setting up and operating a warehousing facility for storage of

agricultural produce;

iii) laying and operating a cross-country natural gas or crude or

petroleum oil pipeline network for distribution, including storage facilities

being an integral part of such network;

iv) building and operating, anywhere in India, a hotel of two star or

above category as classified by the Central Government;

v) building and operating, anywhere in India, a hospital with at least

100 beds for patients;

vi) developing and building a housing project under a scheme for

slum redevelopment or rehabilitation framed by the Central Government

or a State Government and which is notified by the Board in this behalf in

accordance with the guidelines as may be prescribed;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 79

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Expenditure on

agricultural

extension project

and skill

development

SURMHFW

Tea development

account, coffee

development

account and rubber

development

DFFRXQW

vii) developing and building a housing project under a scheme for

affordable housing framed by the Central Government or a State

Government and which is notified by the Board in this behalf in

accordance with the guidelines may be prescribed;

viii) production of fertilizer in India;

ix) setting up and operating an inland container depot or a container

freight station notified or approved under the Customs Act, 1962;

x) bee-keeping and production of honey and beeswax;

xi) setting up and operating a warehousing facility for storage of sugar;

xii) laying and operating a slurry pipeline for the transportation of iron ore;

xiii) setting up and operating a semiconductor wafer fabrication

manufacturing unit which is notified by the Board in this behalf in accordance

with the guidelines as may be prescribed;

xiv) developing, or maintaining and operating, or developing,

maintaining and operating, a new infrastructure facility;

e) any machinery or plant which was used outside India by any person

other than the assessee shall not be regarded as machinery or plant previously

used for any purpose, if—

i) such machinery or plant was not, at any time before the date of

the installation by the assessee, used in India;

ii) such machinery or plant is imported into India; and

iii) no deduction of depreciation for such machinery or plant has

been allowed or is allowable under the provisions of this Act in computing

the total income of any person for any period before the date of installation

of the machinery or plant by the assessee;

f) if any machinery or plant or its part previously used for any purpose is

transferred to the specified business and its total value does not exceed 20% of the

total value of the machinery or plant used in such business, then the conditions

specified in sub-section 3)b) shall be deemed to be complied with;

g) any expenditure of capital nature shall not include any expenditure––

i) for which the payment or aggregate of payments made to a person in

a day, is not through specified banking or online mode, exceeds ൟ10000

rupees; or

ii) incurred on the acquisition of any land or goodwill or financial

LQVWUXPHQW

47 1$Q\H[SHQGLWXUHH[FOXGLQJFRVWRIDQ\ODQGRUEXLOGLQJLQFXUUHGRQ––

a) agricultural extension project by any assessee; or

b) any skill development project by a company,

shall be allowed as a deduction, in the tax year in which such expenditure is incurred

provided such project is notified by the Board as per the guidelines issued by it

2) If a deduction under this section is claimed and allowed for any tax year in respect

of any expenditure referred to in sub-seFWLRQ1), deduction shall not be allowed for such

H[SHQGLWXUHXQGHUDQ\RWKHUSURYLVLRQRIWKLV$FWIRUWKHVDPHRUDQ\RWKHUWD[\HDU

48 1) Where an assessee is carrying on business of growing and manufacturing

tea or coffee or rubber in India, such assessee shall be allowed a deduction on the

basis of deposits into the special account or deposit account and computed as per the

provisions of thH6FKHGXOH,;

2) Any amount withdrawn or utilised or released from the aforesaid accounts at the

WLPHRIFORVXUHRURWKHUZLVHVKDOOEHFKDUJHGWRWD[DVSHUWKHSURYLVLRQVRIWKH6FKHGXOH,;

3) Where any asset acquired as per the special scheme or the deposit scheme,

as referred to in the Schedule IX, is sold or otherwise transferred in any tax year, it

shall be charged to tax LQDFFRUGDQFHZLWKWKHSURYLVLRQVRIWKHVDLG6FKHGXOH

80 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

49 1) An assessee carrying on a business of prospecting, extracting, or producing

petroleum or natural gas, or both, in India, and who has an agreement with the Central

Government for this business, shall be allowed a deduction on the basis of deposit to special

account or site restoration account and FRPSXWHGDVSHUWKHSURYLVLRQVRIWKH6FKHGXOH;

2) Any amount withdrawn or transferred from the aforesaid accounts at the time

of closure or otherwise shall be charged to tax in the year in which the amount is

WUDQVIHUUHGRUZLWKGUDZQDVSHUWKHSURYLVLRQVRIWKH6FKHGXOH;

3) Where any asset acquired as per the special scheme, or the deposit scheme, as

referred to in Schedule X, is sold or otherwise transferred in any tax year, it shall be

charged to tax in accordance with the provisions of the said Schedule

50 1) Irrespective of anything to the contrary contained in this Act, if, during

the tax year, the amount received by a specified association from its members falls

short of the expenditure incurred by such association solely for the protection or

advancement of common interest of its members, then the amount so falling short

shall be allowed as deduction from the income of such association under the head

“Profits and gains of business or profession” and the remaining amount, if any, shall

be allowed deduction IURPLWVLQFRPHXQGHUDQ\RWKHUKHDG

2) For the purposes of sub-VHFWLRQ1),––

a) “specified association” means any trade, professional or similar

association, not covered in Schedule III 7DEOH6O1R, whose income or its part

LV QRW GLVWULEXWHG WR LWV PHPEHUV RWKHU WKDQ DV JUDQWV WR DQ\ DVVRFLDWLRQV RU

institutions affiliated to it);

b) the amount received by the specified association from its members

shall include amount by way of subscription or otherwise, and shall not include

any remuneration received by the association for rendering any specific services

to such members;

c) expenditure incurred by specified association shall not include––

i) expenditure deductible under any other provision of this Act; and

ii DQ\FDSLWDOH[SHQGLWXUH

3) The effect of other provisions of this Act relating to carry forward and

set off of brought forward losses or allowances shall be given before allowing

deduction under sub-VHFWLRQ1

4) The maximum allowable deduction under this section shall not exceed 50%

RIWKHWRWDOLQFRPHDVFRPSXWHGEHIRUHDOORZLQJGHGXFWLRQXQGHUWKLVVHFWLRQ

51 1 $Q DVVHVVHH EHLQJ DQ ,QGLDQ FRPSDQ\ RU D SHUVRQ RWKHU WKDQ D

company) who is resident in India, who is engaged in any operations relating to

prospecting for, or extraction or production of, any mineral, shall be allowed a

deduction of an amount equal to one-tenth of the amount of expenditure referred to in

sub-VHFWLRQ2LQHDFKRIWKHUHOHYDQWWD[\HDUV

2) The expenditure referred to in sub-VHFWLRQ1) is the expenditure incurred by

the assessee at any time during the year of commercial production and any one or

more of the four tax years immediately preceding that year, wholly and exclusively

on any operations relating to prospecting for any mineral or group of associated

minerals specified in Part A or Part B, respectively, of the Schedule XII or on the

development of a mine or other natural deposit of any such mineral or group of

DVVRFLDWHGPLQHUDOV

3) The expenditure under sub-VHFWLRQ2) shall be reduced by such expenditure

which is met directly or indirectly by any other person or authority and any sale, salvage,

compensation or insurance moneys realised by the assessee in respect of any property

RUULJKWVEURXJKWLQWRH[LVWHQFHDVDUHVXOWRIWKHH[SHQGLWXUH

Site Restoration

)XQG

Special provision

in case of trade,

profession or

similar

DVVRFLDWLRQ

Amortisation of

expenditure for

prospecting

FHUWDLQPLQHUDOV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 81

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

4) dhe following expenditure shall be excluded from the expenditure referred to in

sub-VHFWLRQ2):––

a) any expenditure on the acquisition of the site of the source of any

mineral or group of associated minerals referred to in the said sub-section or of

any rights in or over such site; or

b) any expenditure on the acquisition of the deposits of such mineral or

group of associated minerals or of any rights in or over such deposits; or

c) any expenditure of a capital nature in respect of any building,

machinery, plant or furniture for which allowance by way of depreciation is

admissible under section 33

5) The deduction to be allowed under sub-VHFWLRQ1) for any relevant tax year

shall be—

a) an amount equal to one-tenth of the expenditure specified in sub-VHFWLRQ2)

as reduced by the expenditure mentioned in sub-sections 3DQG4) VXFKRQH-tenth

being herein referred to as the instalment); or

b) such amount as is sufficient to reduce to nil WKHLQFRPHDVFRPSXWHG

before making the deduction under this section) of that tax year arising from the

commercial exploitation [whether or not such commercial exploitation is as a

result of the operations or development referred to in sub-VHFWLRQV2DQG3@

of any mine or other natural deposit of the mineral or any one or more of the

minerals in a group of associated minerals under this section in respect of which

the expenditure was incurred,

ZKLFKHYHULVOHVV

6) If any part of the instalment for a relevant tax year is not fully allowed, it

shall be carried forward to the subsequent tax year, becoming part of the instalment

of that tax year and such carrying forward may continue for each following tax year,

but no instalment shall be carried forward beyond the tenth tax year from the tax year

LQZKLFKFRPPHUFLDOSURGXFWLRQEHJDQ

7) Where the assessee is a person other than a company or a co-operative

society, no deduction shall be admissible under sub-VHFWLRQ1) unless,––

a) the accounts of the assessee for the tax year or years in which the

expenditure specified in sub-VHFWLRQ2) are incurred have been audited by an

accountant, before the specified date referred to in section 63; and

b) the assessee furnishes for the first tax year in which the deduction

under this section is claimed, the report of such audit, by such date, in such form

and duly signed and verified by such accountant, as may be SUHVFULEHG

8) If an undertaking of an Indian company, entitled for deduction under

sub-VHFWLRQ1), is transferred before ten years specified in the said sub-section in a

scheme of amalgamation or demerger, to another Indian company, then,––

a) no deduction shall be allowed to the amalgamating or demerged company

for the year in which such amalgamation or demerger takes place; and

b) all the provisions of this section shall continue to apply to the

amalgamated or resulting company as it would have applied to the

amalgamating or demerged company, as if the amalgamation or demerger had

QRWWDNHQSODFH

9) If a deduction under this section is claimed and allowed for any tax year in

respect of any expenditure referred to in sub-VHFWLRQ 2), deduction shall not be

allowed for such expenditure under any other provision of this Act for the same or

DQ\RWKHUWD[\HDU

82 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

10) For the purposes of this section,—

a) “operation relating to prospecting” means any operation undertaken

for the purposes of exploring, locating or proving deposits of any mineral and

includes any such operation which proves to be infructuous or abortive;

b) “year of commercial production” means the tax year in which as a

result of any operation relating to prospecting, commercial production of any

mineral or any one or more of the minerals in a group of associated minerals

specified in Part A or Part B, respectively, of Schedule XII, commences;

c) “relevant tax years” means the ten tax years beginning with the year of

commerciDOSURGXFWLRQ

52 1) Where an expenditure of the nature specified in column B of the Table

given below is incurred during the tax year, a deduction or part thereof shall be

allowed in equal instalments in each of the successive tax years as mentioned in

column D of the said Table, beginning from the initial tax year specified in column C

WKHUHRI

Table

Sl1R

Nature of expenditure

Initial tax year

Number of tax years

over which deduction

expenditure

allowable in equal

instalments

Expenditure incurred by

an Indian company, wholly

and exclusively for the

purposes of amalgamation

demerger

undertaking

Tax

year

which

such

amalgamation or

demerger

takes

place

)LYHWD[\HDUV

Amount paid to an

employee in connection

with

his

voluntary

retirement

per

any

scheme

voluntary

retirement

Tax

year

which

such

payment is made

)LYHWD[\HDUV

Capital

expenditure

incurred and actually paid

for acquiring any right to

use

spectrum

for

telecommunication

VHUYLFHVVSHFWUXPIHH

Tax

year

which,—

the

business

operate

telecom

services

commenced;

b) spectrum

fee is actually

paid,

whichever is later

Number of years

commencing

from

the initial tax year

and ending in the tax

year up to which the

spectrum for which

the

fee

paid

UHPDLQVLQIRUFH

Amortisation of

expenditure for

telecommunications

services,

amalgamation,

demerger, scheme

of voluntary

UHWLUHPHQWHWF

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 83

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Capital

expenditure

incurred and actually paid

for acquiring any right to

operate telecommunication

VHUYLFHVKHUHLQUHIHUUHGWR

as licence fee)

Tax

year

which,—

the

business

operate

telecom

services

commenced;

b) licence

fee is actually

paid,

whichever is later

Number of years

commencing

from

the initial tax year

and ending in the tax

year up to which the

licence for which the

fee is paid remains in

IRUFH

2) Where the licence or spectrum referred to in sub-VHFWLRQ1)7DEOH6O1R

3 or 4)—

a) is transferred, and WKHSURFHHGVRIWKHWUDQVIHUVRIDUDVWKH\FRQVLVWRI

capital sums) are less than the expenditure though incurred, but remaining

unallowed, a deduction equal to such expenditure remaining unallowed, as

reduced by the proceeds of the transfer, shall be allowed in respect of the tax

year in which the licence or spectrum is transferred;

b) is transferred, whether in whole or in part, and the proceeds of the

WUDQVIHU VR IDU DV WKH\ FRQVLVW RI FDSLWDO VXPV H[FHHG WKH DPRXQW RI WKH

expenditure though incurred, but remaining unallowed, so much of the excess

as does not exceed the difference between the expenditure incurred to obtain the

licence or spectrum and the amount of such expenditure remaining unallowed,

shall be chargeable to income-tax as profits and gains of the business in the tax

year in which the licence or spectrum has been transferred;

c) is transferred under clDXVHb) in a tax year in which the business is no

longer in existence, the provisions of said clause shall apply as if the business is

in existence in that tax year;

d) is transferred, whether in whole or in part, and the proceeds of the

WUDQVIHUVRIDUDVWKH\FRQVLVWRIFDSLWDOVXPVare equal or greater than the

amount of expenditure incurred remaining unallowed, no deduction for such

expenditure shall be allowed under sub-VHFWLRQ1) in respect of the tax year in

which the licence or spectrum is transferred or in respect of any subsequent tax

year or years;

e) is sold or otherwise transferred by the amalgamating company or

demerged company, as the case may be, in a scheme of amalgamation or demerger,

to the amalgamated company or resulting company, being an Indian company,—

i) WKHSURYLVLRQVRIFODXVHVabcDQGd) shall not apply to the

amalgamating or demerged company; and

ii) all the provisions of this section shall continue to apply to the

amalgamated or resulting company as it would have applied to the

amalgamating or demerged company, as if the transfer had QRWWDNHQSODFH

3)) Where a part of licence or spectrum referred to in sub-VHFWLRQ17DEOH6O

1RRU is transferred in a tax year and sub-section 2)b) and c) does not apply,

the deduction to be allowed under sub-VHFWLRQ1) for the expenditure though incurred

but remaining unallowed shall be arrived at by—

84 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

a VXEWUDFWLQJWKHSURFHHGVRIWUDQVIHUVRIDUDVWKH\FRQVLVWRIFDSLWDO

sums) from the expenditure remaining unallowed; and

b) dividing the remainder by the number of relevant tax years which have not

expired at the beginning of the tax year during which the licence or spectrum is

WUDQVIHUUHG

4) No deduction shall be allowed––

a) for depreciation under sectioQ1WR10) in respect of expenditure

mentioned in sub-VHFWLRQ1) 7DEOH6O1RRUZKHUHGHGXFWLRQXQGHUWKLV

section is claimed and allowed for any tax year;

b) under any other provision of this Act in respect of the expenditure

mentioned in sub-VHFWLRQ1) 7DEOH6O1RRU

5) In case any deduction has been claimed and granted in respect of an

expenditure referred to in sub-VHFWLRQ 1) 7DEOH 6O 1R in a tax year and

subsequently there is failure on part of the assessee to comply with any of the

provisions of this section, then,—

a) the deduction shall be deemed to have been wrongly allowed;

b) the Assessing Officer may, irrespective of any other provisions of this

Act, recompute the total income of the assessee for the said tax year by making

necessary rectification;

c) the provisions of section 287 shall, so far as may be, apply; and

d) the period of four years specified in section 2878) shall be counted

IURPWKHHQGRIWKHWD[\HDULQZKLFKVXFKIDLOXUHWDNHVSODFH

6) Where a specified business reorganisation takes place before the expiry of

the period specified in sub-VHFWLRQ1)7DEOH6O1R D), in case of an expenditure

referred against serial number 2 thereof, then,—

a) the provisions of this section, as far as may be, shall continue to apply to

the successor entity as they would have applied to the predecessor entity if such

reorganisation had not taken place; and

b) no deduction shall be allowed to the predecessor entity under this

VHFWLRQIRUWKHWD[\HDULQZKLFKVXFKUHRUJDQLVDWLRQWDNHVSODFH

7) For the purposes of this section,––

a) “actually paid” means the actual payment of expenditure irrespective

of the tax year in which the liability for the expenditure was incurred according

to the method of accounting regularly employed by the assessee or payable in

such manner, as may be prescribed;

b) “equal instalments” shall be calculated by taking numerator as 1 and

denominator as the tax years mentioned in column D of the Table in sub-VHFWLRQ1);

c) “specified business reorganisation” means––

i) amalgamation of an Indian company and its undertaking with

another Indian company; or

ii) demerger of an undertaking of an Indian company to another

company; or

iii) succession of a firm or proprietorship concern to a company

fulfilling conditions as laid down in section 701zd); or

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 85

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Full value of

consideration for

transfer of assets

other than capital

assets in certain

FDVHV

Business of

prospecting for

PLQHUDORLOV

iv) conversion of a private company or unlisted public company to a

limited liability partnership fulfilling conditions laid down in section 701ze

53 1,QFDVHRIWUDQVIHURIDQDVVHWRWKHUWKDQDFDSLWDODVVHWEHLQJODQGRU

building or both, if the consideration received or accrued from such transfer is less

than the stamp duty value, then such stamp duty value for computing profits and gains

from transfer of such asset shall be deemed WREHWKHIXOOYDOXHRIFRQVLGHUDWLRQ

2) The provisions of sub-VHFWLRQ1) shall not apply if the stamp duty value does

not exceed 110% of the consideration received or accrued and in such a case, the

consideration received or accrued shall be deemed to be the full value of

FRQVLGHUDWLRQ

3) If the date of agreement fixing the value of consideration for transfer of asset

and date of registration for transfer of such asset are different, then the stamp duty

value as on date of agreement may be taken to be the full value of consideration under

sub-VHFWLRQ1

4) The provisions of sub-VHFWLRQ3) shall apply only in a case where the amount

of consideration or a part thereof has been received by specified banking or online

PRGHRQRUEHIRUHWKHGDWHRIDJUHHPHQWIRUWUDQVIHURIVXFKDVVHW

5) For the determination of the stamp duty value under sub-VHFWLRQ 1), the

provisions of section 782DQG3VKDOODSSO\

54. 1) Where the assessee undertakes specified oil exploration business, then

deduction specified in sub-sections 3) and 4) shall be allowed while computing the

income under the head “Profits and gains of business or profession”.

2) For the purposes of this section, “specified oil exploration business” means

business consisting of prospecting for or extraction or production of mineral oils where

the following conditions are fulfilled:—

a) the Central Government has entered into an agreement with the assessee;

b) such agreement is entered for association or participation of the Central

Government or any person authorised by it; and

c VXFKDJUHHPHQWLVODLGEHIRUHHDFK+RXVHRI3DUOLDPHQW

3) The deduction referred to in sub-VHFWLRQ1) shall be––

a) for the period before the beginning of commercial production, expenditure

towards infructuous or abortive exploration incurred in respect of any surrendered

area;

b) for the period after the commencement of commercial production,

H[SHQGLWXUHZKHWKHUEHfore or after such production) in respect of drilling or

exploration activities or services or in respect of physical assets used in that

connection;

c) for the tax year of commencement of commercial production and such

succeeding tax years as specified in the agreement, towards depletion of mineral oil

LQWKHPLQLQJDUHD

4) The deductions referred to in sub-VHFWLRQ1) shall be––

a) either in lieu of, or in addition to, any allowance admissible under this Act

as specified in the agreement; and

86 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) computed and made in the manner specified in the agreement and the other

provisions of this Act shall be deemed WRKDYHEHHQPRGLILHGWRVXFKH[WHQW

5) Where the business or any interest therein as referred to in sub-VHFWLRQ1) is

wholly or partly transferred as per the provisions of the agreement, the profit shall be

charged to tax or deduction shall be allowed in the following manner:—

a ZKHUH$LVOHVVWKDQ&WKHQ&-A) shall be allowed as deduction in the tax

year in which such business or interest is transferred;

b) where A is greater than C,––

i EXWOHVVWKDQ%WKHQ$-C) shall be the profit chargeable under the

head “Profits and gains of business or profession” for the tax year in which

such transfer takes place;

ii LQDQ\RWKHUFDVHRQO\%-C) shall be the profit chargeable under the

said head for the tax year in which such transfer takes place; and

iii) no deduction shall be allowed for the expenditure incurred

remaining unallowed in the tax year in which such transfer takes place or any

subsequent tax year,

where,––

$ SURFHHGVRIWKHWUDQVIHUVRIDUDVWKH\FRQVLVWRIFDSLWDOVXPV

B = total amount of expenditure incurred in connection with the business or

to obtain interest therein;

& DPRXQWRIH[SHQGLWXUHLQFXUUHGUHPDLQLQJXQDOORZHG

6) If the business or interest therein is no longer in existence in the year of transfer,

the provisions of sub-VHFWLRQ5) shall apply as if such business is in existence during the

VDLG\HDU

7) Where the business or interest therein is sold or otherwise transferred in a scheme

of amalgamation or demerger and the amalgamated entity or the resulting entity being an

Indian company, then the provisions of sub-VHFWLRQ5) shall—

a) not apply to the amalgamating or demerged company; and

b) continue to apply to the amalgamated or resulting company as it would

have applied to the amalgamating or demerged company as if the transfer had

QRWWDNHQSODFH

55 ,UUHVSHFWLYHRIDQ\WKLQJWRWKHFRQWUDU\FRQWDLQHGLQWKHSURYLVLRQVRIWKLV$FW

for computing income under the head “Income from house property”, “Capital gains” or

“Income from other sources”, or in section 3905DQG6), or in sections 26 to 54, the

profits and gains of any business of insurance, including any such business carried on by

a mutual insurance company or by a co-operative society, shall be computed as per the

provisions of Schedule XIV

56 1) Irrespective of anything to the contrary contained in this Act, the interest

income in relation to bad or doubtful debts of a specified financial institution shall be

chargeable to tax under the head “Profits and gains of business or profession” in the tax

year in which such interest is—

a) credited to the profit and loss account; or

Insurance

EXVLQHVV

Special provision

in case of interest

income of

specified

financial

LQVWLWXWLRQV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 87

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Revenue

recognition for

construction and

VHUYLFHFRQWUDFWV

Special provision

for computing

profits and gains of

business or

profession on

presumptive basis

in case of certain

UHVLGHQWV

b) actually received,

ZKLFKHYHULVHDUOLHU

2) For the purposes of this section,––

a) “specified financial institution” means––

i) a public financial institution; or

ii) a scheduled bank; or

iii) a co-operative bank, other than––

A) a primary agricultural credit society; or

B) a primary co-operative agricultural and rural development

bank; or

iv) a State Financial Corporation; or

v) a State Industrial Investment Corporation; or

vi) any such class of non-banking financial companies, as may be

notified by the Central Government;

b) “bad or doubtful debts” shall be such categories of debts, as may be

prescribed, having regard to the guidelines issued in relation to such debts by the

5HVHUYH%DQNRI,QGLD

57 1) The profits and gains arising from a construction contract or a contract

for providing services, shall be determined on the basis of percentage of completion

method, subject to provisions of sub-VHFWLRQ2), as per the income computation and

disclosure standards QRWLILHGXQGHUVHFWLRQ2

2) For the purposes of sub-VHFWLRQ1), the profits and gains arising from a contract

for providing services shall be determined—

a) on the basis of project completion method, if the duration of such contract

is not more than ninety days;

b) on the basis of straight line method, if the contract involves indeterminate

QXPEHURIDFWVRYHUDVSHFLILHGSHULRGRIWLPH

3) For the purposes of percentage of completion method, project completion

method or straight line method under this section,—

a) the contract revenue shall include retention money;

b) the contract costs shall not be reduced by any incidental income in the

nature of interHVWGLYLGHQGVRUFDSLWDOJDLQV

58 1) The provisions of sections 26 to 54, to the extent contrary to this section,

shall not apply to the manner of computation of profits and gains of the specified business

or profession in sub-VHFWLRQ2

2) The profits and gains of any specified business or profession as

mentioned in column B of the Table below, carried on by an assessee specified in

column C of the said Table, having total turnover or gross receipts of business or

profession during the tax year specified in column D and computed in the manner

specified in column E thereof, shall be deemed to be the profits and gains of such

business or profession chargeable to tax under the head “Profits and gains of

business or profession”.

88 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

Table

6O 1R

Specified

business or

profession

Assessee

Total turnover

or, as the case

may be, gross

receipts

business

profession

during tax year

Manner

computation

Any

business other

than

the

business

specified

against serial

number 2

Eligible

assessee

a) Does not

exceed

two

crore rupees; or

b) does not

exceed

three

crore

rupees,

where

the

amount

aggregate

amounts

received,

cash, does not

exceed 5% of

the

total

turnover

JURVVUHFHLSWV

A) The aggregate

of––

i) 6% of total

turnover or gross

receipts

which

received by specified

banking or online

mode during the tax

year or before the

due date specified in

VHFWLRQ 1) in

respect of that tax

year;

ii) 8% of total

turnover or gross

receipts as reduced

by the turnover or

gross

receipts

FRYHUHGLQi); or

B) profit claimed

to have been actually

earned,

ZKLFKHYHULVKLJKHU

Business of

plying, hiring

leasing

goods

carriage

assessee,

who

owns

not

than

ten

goods

carriages at

any

time

during

the

tax year

A) The aggregate

of income from goods

carriage:—

i)being a heavy

goods

vehicle,

calculated at the

UDWH RI ൟ SHU

ton of gross vehicle

weight or unladen

weight, as the case

may be, for each

vehicle, for every

month or part of a

month

during

which such vehicle

is owned by the

assessee in the tax

year;

ii)

being

vehicle other than

heavy

goods

vehicle, calculated

at the

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 89

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

rate of ൟ7,500

for each goods

carriage

for

every month or

part of a month

during which the

vehicle is owned

by the assessee in

the tax year; or

profit

claimed to have been

actually

earned,

ZKLFKHYHULVKLJKHU

Specified

profession

as referred

to in section

Specified

assessee

Does

not exceed fifty

lakh rupees; or

does

not

exceed

seventy-five

lakh rupees,

where

the

amount

aggregate

amounts

received in cash

does not exceed

5% of the gross

UHFHLSWV

50% of the gross

receipts

profit

claimed to have been

actually earned,

whichever

KLJKHU

3) Any assessee mentioned in column C of the Table in sub-section 2), who

claims that––

a) the profits or gains actually earned from the specified business or

profession are lower than the profits or gains computed in the manner

mentioned in column E of the said Table; and

b) whose total income exceeds the maximum amount which is not

chargeable to tax,

shall be required to––

i) keep and maintain such books of account and other documents as

required under section 62; and

ii) get the accounts audited and furnish a report of such audit as required

under section 63

4) Any loss, allowance or deduction allowable under the provisions of this Act, shall

not be allowed against the income computed in the manner specified in sub-VHFWLRQ2

5) For the purposes of sub-VHFWLRQ2)7DEOH6O1R where the assessee is a firm,

the salary and interest paid to its partners shall be deducted from the income computed

under sub-VHFWLRQ1VXEMHFWWRWKHFRQGLWLRQVDQGOLPLWVVSHFLILHGLQVHFWLRQe

90 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

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6) The written down value of any asset used for the purposes of specified business

or profession shall be computed as if the assessee mentioned in column C of the Table in

sub-VHFWLRQ2) had claimed and was actually allowed deduction in respect of depreciation

WKHUHRQIRUHDFKRIWKHUHOHYDQWWD[\HDUV

7) Where an eligible assessee declares profit for any tax year as per the provisions

of sub-VHFWLRQ2) 7DEOH6O1R and he declares profit for any of the five tax years

succeeding such tax year in contravention of the provisions of sub-VHFWLRQ1), then he

shall not be eligible to claim the benefit of the provisions of this section for five tax years

subsequent to the tax year in which the profit has not been declared as per the provisions

of the said sub-VHFWLRQ

8) Irrespective of anything contained in foregoing provision of this section, where

provisions of sub-VHFWLRQ7) are applicable to an eligible assessee and his total income

exceeds the maximum amount which is not chargeable to income-tax, he shall be required

to keep and maintain such books of account and other documents as required under

section 62 and get them audited and furnish a report of such audit as required under

section 63

9) For the purposes of sub-VHFWLRQ2)7DEOH6O1Rs and 3), the receipt of

amount or aggregate of amounts by a cheque drawn on a bank or by a bank draft, which

is not account payee, shall be deemed WREHWKHUHFHLSWLQFDVK

10) The provisions of sections 62 and 63 shall not apply in so far as they relate to

the business referred to in sub-VHFWLRQ27DEOH6O1RDQGLQFRPSXWLQJWKHPRQHWDU\

limits under those sections, the gross receipts or, as the case may be, the income from the

VDLGEXVLQHVVVKDOOEHH[FOXGHG

11) For the purposes of this section,––

a) “eligible assessee” means an individual, a Hindu undivided family, or a

firm other than a limited liability partnership, who is resident in India, and who––

i) has not claimed any deduction under section 144;

ii) has not claimed any deduction under Chapter VIII-C for the relevant

tax year;

iii)

does not carry

on specified profession as defined in

section 4);

iv) does not earn any income in the nature of commission or

brokerage;

v) does not carry on any agency business;

b) “specified assessee” means an individual or a firm, other than a limited

liability partnership, who is a resident in India;

c) “limited liability partnership” shall have the same meaning as assigned to

it in section 21)n) of the Limited Liability Partnership Act, 2008;

d) the expressions “goods carriage”, “gross vehicle weight” and “unladen

weight” shall have the same meaning as respectively assigned to them in section 2

of the Motor Vehicles Act, 1988;

e) “heavy goods vehicle” means any goods carriage, the gross vehicle weight

of which exceeds 12,000 kilograms; and

f) an assessee, who is in possession of a goods carriage, whether taken on hire

purchase or on instalments and for which the whole or part of the amount payable

is still due, shall be deemed to be the owner RIVXFKJRRGVFDUULDJH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 91

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Computation of

royalty and fee

for technical

services in

hands of non-

UHVLGHQWV

Deduction of

head office

expenditure in

case of non-

UHVLGHQWV

59. 1) Income in the nature of royalty or fees for technical services received

by a specified assessee during a tax year, shall be computed under the head

“Profits and gains of business or profession” under this Act, if the following

conditions are satisfied:––

a) income is received from the Government or an Indian concern;

b) income is in pursuance to an agreement made by the specified

assessee with the Government or the Indian concern;

c) the specified assessee carries on business in India through a

permanent establishment, or performs professional services from a fixed

place of profession, situated in India; and

d) the right, property or contract in respect of which the royalties or

fees for technical services are paid is effectively connected with such

peUPDQHQWHVWDEOLVKPHQWRUIL[HGSODFHRISURIHVVLRQ

2) No deduction shall be allowed against the income computed under

sub-VHFWLRQ1) in respect of the following amounts:—

a) any expenditure or allowance which is not wholly and exclusively

incurred for the business of such permanent establishment or fixed place of

profession in India; or

b DPRXQWVLIDQ\SDLGRWKHUZLVHWKDQWRZDUGVUHLPEXUVHPHQWRI

actual expenses) by the permanent establishment to its head office or to any

of its other offiFHV

3) The provisions of section 61 in so far as it relates to business referred to

in section 612) 7DEOH6O1R, shall not apply in respect of the income referred

WRLQWKLVVHFWLRQ

4) The specified assessee shall keep and maintain books of account and

other documents as per the provisions of section 62, get his accounts audited on

or before the specified date referred to in section 63 by an accountant, and furnish

report of audit in the prescribed form, duly VLJQHGDQGYHULILHGE\WKHDFFRXQWDQW

5) For the purposes of this section, the expression “specified assessee”

means a non-UHVLGHQWQRWEHLQJDFRPSDQ\RUDIRUHLJQFRPSDQ\

60. 1) Irrespective of anything to the contrary contained in sections 26 to 54, in

the case of a non-resident assessee, deduction of head office expenditure incurred by

such assessee as is attributable to his business or profession in India, shall be

allowed in computing the income chargeable under the head “Profits and gains of

business or profession” subject to provisions of sub-VHFWLRQ2

2) The deduction allowable under sub-VHFWLRQ1) shall be restricted—

a) if the adjusted total income of the assessee is a loss, to an upper

monetary limit of 5% of the average adjusted total income of the assessee; or

b) in any other case, to an upper monetary limit of 5% of the adjusted

WRWDOLQFRPHRIWKHDVVHVVHH

3) For the purposes of this section,—

a) “adjusted total income” means the total income computed under this

Act, without giving effect to the allowance referred to in this section or in

VHFWLRQ11RUWKHGHGXFWLRQUHIHUUHGWRLQVHFWLRQiA) or any loss

carried forward under section 1) or 1RU2RU2) or the

deductions under Chapter VIII;

92 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) “average adjusted total income” means,—

i) if the assessee is assessable for each of the three tax years

immediately preceding the relevant tax year, the arithmetic mean of

his adjusted total income over those three tax years;

ii) if the assessee is assessable only for two of the said three tax

years, the arithmetic mean of his adjusted total income over those two

tax years;

iii) if the assessee is assessable only for one of the said three tax

years, his adjusted total income for that tax year;

c) “head office expenditure” means executive and general administration

expenditure incurred by the assessee outside India, including expenditure

incurred in respect of—

i) rent, rates, taxes, repairs or insurance of any premises outside

India used for the business or profession;

ii) salary, wages, annuity, pension, fees, bonus, commission,

gratuity, perquisites or profits in lieu of, or in addition to, salary,

whether paid or allowed to any employee or other person employed

in, or managing the affairs of, any office outside India;

iii) travelling by any employee or other person employed in, or

managing the affairs of, any office outside India; and

iv) such other matters connected with executive and general

administration, as may be SUHVFULEHG

61. 1) The provisions of sections 26 to 54, to the extent contrary to this

section, shall not apply to the manner of computation of profits and gains of the

specified business in sub-VHFWLRQ2

2) The profits and gains of any specified business as mentioned in

column B of the Table below, carried on by a specified assessee as mentioned

in column C of the said Table during a tax year, shall be computed in the manner

specified in column D thereof, and shall be deemed to be the profits and gains

of such business of such assessee chargeable to tax for the said tax year under

the head “Profits and gains of business or profession”.

Table

6O1R

Specified business

Specified

assessee

Profits and gains of

business or profession

Business

operation

ships,

other than cruise ships

referred to in Serial

QXPEHU

Non-

resident

RI$%

where,––

A = sum on account of

carriage

passengers,

livestock, mail or goods

shipped at any port in India,

whether paid or payable, in

or outside India, to the

assessee or any other person

RQ KLV EHKDOI LQFOXGLQJ

demurrage, handling or other

similar charges);

Special

provision for

computation of

income on

presumptive

basis in respect

of certain

business

activities of

certain non-

UHVLGHQWV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 93

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

B = sum on account of

carriage

passengers,

livestock, mail or goods

shipped at any port outside

India, whether received or

deemed to be received in

India, by the assessee or any

other person on his behalf

LQFOXGLQJ

GHPXUUDJH

handling or other similar

FKDUJHV

Business

operation of cruise

VKLSV VXEMHFW WR

the conditions as

may

prescribed)

Non-resident

RI$%

where,––

A = sum on account of

carriage of passengers, paid

or payable to the assessee or

any other person on his

behalf;

B = sum on account of

carriage

passengers

received or deemed to be

received by the assessee or

any other person on his

EHKDOI

Business

operation

aircraft

Non-resident

RI$%

where,––

A = sum on account of

carriage

passengers,

livestock, mail or goods

from any place in India, paid

RU SD\DEOH LQ RU RXWVLGH

India) to the assessee or any

other person on his behalf;

B = sum on account of

carriage

passengers,

livestock, mail or goods

from any place outside India,

received or deemed to be

received in India, by the

assessee or any other person

RQKLVEHKDOI

Business of civil

construction

erection or testing

or commissioning,

plant

machinery,

connection with a

turnkey

power

project,

approved

the

Central

Government

Foreign

company

10%

the

amount

towards

such

civil

construction,

erection,

testing, or commissioning,

paid or payable, to the

assessee or to any other

person

his

behalf,

ZKHWKHULQRURXWVLGH,QGLD

94 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

Business

providing services

facilities

LQFOXGLQJ VXSSO\

plant

and

machinery on hire)

for

prospecting,

extraction

production

mineral oils

Non-

resident

RI$%

where,––

A = sum on account of

business of providing services

and facilities in connection

with, or supply of plant and

machinery on hire used, or to be

used, in the prospecting for, or

extraction or production of

mineral oils in India, paid or

SD\DEOHLQRURXWVLGH,QGLDWR

the assessee or any other person

on his behalf;

B = sum on account of

business of providing services

and facilities in connection

with, or supply of plant and

machinery on hire used, or to be

used, in the prospecting for, or

extraction or production of

mineral oils outside India,

received or deemed to be

received in India, by the

assessee or any other person on

KLVEHKDOI

Business

providing services

or technology in

India,

for

the

purposes of setting

up an electronics

manufacturing

facility

connection

with

manufacturing or

producing

electronic goods,

article or thing in

India to a resident

company

Non-

resident

RI$%

where,––

A = the amount paid or

payable to the non-resident

assessee or to any person on his

behalf on account of providing

services or technology;

B = the amount received or

deemed to be received by the

non-resident assessee or on

behalf of non-resident assessee

account

providing

VHUYLFHVRUWHFKQRORJ\

3) For the purposes of sub-VHFWLRQ 2) 7DEOH 6O 1Rs 4 and 5) the

specified assessee may claim that the profits actually earned from the specified

business are lower than the business profits computed under sub-VHFWLRQ2),

if,––

a) he keeps and maintains such books of account and other documents

as required under section 62; and

b) gets his accounts audited and furnish a report of such audit as

required under section 63

4) Any loss, allowance or deduction allowable under the provisions of this

Act shall not be allowed against the income computed in the manner specified in

sub-VHFWLRQ2

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 95

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Maintenance of

books of

DFFRXQW

5) The written down value of any asset used for the purposes of specified

business or profession shall be computed, as if the assessee mentioned in

column C of the Table in sub-VHFWLRQ2) had claimed and was actually allowed

depreciation thereon for HDFKRIWKHUHOHYDQWWD[\HDUV

6) For the purposes of sub-VHFWLRQ2) 7DEOH6O1RWKHSURYLVLRQVRI

this section shall not apply where the provisions of section 54 or 59 or 207 or 527

apply for the purposes of computing profits and gains or any other income referred

WRLQWKHVDLGVHFWLRQV

7) For the purposes of sub-VHFWLRQ2) (Table: Sl. No. 5), “plant” includes

ships, aircrafts, vehicles, drilling units, scientific apparatuses and equipments used

for the purposes of the specified EXVLQHVV

8) For the purposes of sub-VHFWLRQ2) 7DEOH6O1RUHVLGHQWFRPSDQ\

shall satisfy the following:—

a) it is establishing or operating electronics manufacturing facility or

a connected facility for manufacturing or producing electronic goods, article

or thing in India, under a scheme notified by the Central Government in the

Ministry of Electronics and Information Technology; and

b) it satisfies the conditions as may be SUHVFULEHGLQWKLVEHKDOI

9) The provisions of sections 59 and 207 shall not apply to amounts referred

to in sub-VHFWLRQ27DEOH6O1R

62 1a) Any person carrying on specified profession; or

b) any person carrying on, business; or any profession [not being a

SURIHVVLRQUHIHUUHGWRLQFODXVHa)@DQGVDWLVI\LQJWKHFRQGLWLRQVUHIHUUHGWRLQ

sub-VHFWLRQ2),

shall keep and maintain such books of account and other documents to enable the

$VVHVVLQJ2IILFHUWRFRPSXWHKLVWRWDOLQFRPHXQGHUWKLV$FW

2) The conditions in respect of persons referred to in sub-VHFWLRQ1b) shall

be the following:––

a) where the income from business or profession exceeds ൟ120000 or its total

sales, turnover or gross receipts from such business or profession exceeds ten lakh

rupees in any one of the three years immediately preceding the tax year; or

b) where business or profession is newly set up in the tax year, the

income from business or profession is likely to exceed ൟ120000 or its total

sales, turnover or gross receipts from such business or profession is likely to

exceed ten lakh rupees during such tax year; or

c) where during the tax year, the assessee referred to in section 582) or

2) 7DEOH6O1Rs 4 and 5), has claimed income from business or profession

to be lower than the deemed profits as referred to in VHFWLRQ2) or section

2); or

d LQFDVHRIDQLQGLYLGXDORU+LQGXXQGLYLGHGIDPLO\FODXVHVa) and

b) shall be modified to the extent of income from such business or

profession exceeding ൟ250000 and its total sales, turnover or gross receipts

from such business or profession exceeding twenty-five lakh rupees

3) For the purposes of this section, the Board may prescribe––

a) the books of account and other documents including inventories,

wherever necessary) to be kept and maintained;

b) particulars to be contained therein;

c) the form, manner and place at which they shall be kept and

maintained; and

96 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

d) the period for which such books of account and other documents

DUHWREHUHWDLQHG

4) For the purposes of this section, the expression “specified profession”

means––

a) legal, medical, engineering, architectural, accountancy, technical

consultancy, interior decoration, information technology or company secretary; or

b) any other profession, as may be notified by the Board in this behalf

63. 1) Every person, carrying on the business or profession fulfilling any of

the conditions specified in column B of the Table below, shall get his accounts of

WKHWD[\HDUDXGLWHGE\DQDFFRXQWDQWEHIRUHWKHVSHFLILHGGDWH

Table

6O1R

Conditions for getting books of account audited

Every person––

a) carrying on business shall, if his total sales, turnover or gross

receipts, as the case may be, in business exceed or exceeds one crore

rupees in any tax year, subject to the provisions of clause b);

b) In case of a person whose—

i) aggregate of all amounts received including amount

received for sales, turnover or gross receipts during the tax year,

in cash, does not exceed 5% of the said amount; and

ii) aggregate of all payments made including amount

incurred for expenditure, in cash, during the previous year

does not exceed 5% of the said payment,

FODXVHa) shall have effect as if for the words “one crore rupees”,

the words “ten crore rupees” had been substituted;

c) carrying on profession shall, if his gross receipts in profession

H[FHHGILIW\ODNKUXSHHVLQDQ\SUHYLRXV\HDU

If the person is carrying on business or profession, referred to in

VHFWLRQ2RU2) 7DEOH6O1RDQG and the profits and

gains from such business or profession are claimed to be lower than

the deemed profits as referred to in the said VHFWLRQV

2) The provisions of this section shall not apply where profits and gains of

business or profession, declared by the assessee are as per section 2)or 2

3) The assessee shall furnish by the specified date, the report of such audit

in such form, duly signed and verified by the accountant and setting forth such

particulars, as may be SUHVFULEHG

4) Where a person is required, by or under any other law, to get his accounts

audited, then it shall be sufficient compliance of this section, if such person––

a) gets the accounts of such business or profession audited under such

law before the specified date; and

b) furnishes by that specified date the report of such audit along with

the report of the accountant in the form as may be SUHVFULEHG

5) For the purposes of this section,—

a) “specified date” in relation to the accounts of the assessee of the

tax year, means the date one month prior to the due date for furnishing the

return of income under section 2631)

b) the payment or receipt, as the case may be, by a cheque drawn on

a bank or by a bank draft, which is not account payee, shall be deemed to be

the payment or receipt, as the case may be, in cash

7D[DXGLW

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 97

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Special

provision for

computing

deductions in

case of business

reorganisation

of co-operative

EDQNV

Interpretation

for purposes of

section 64

64. 17KHGHGXFWLRQXQGHUVHFWLRQRURU1) 7DEOH6O1RRU

shall, in a case where business reorganisation of a co-operative bank has taken

place during the tax year, be allowed as SHUSURYLVLRQVRIWKLVVHFWLRQ

2) The amount of deduction allowable to the predecessor co-operative bank

or to the successor co-operative bank or to the converted banking company under

VHFWLRQRURU1) 7DEOH6O1RRUVKDOOEHGHWHUPLQHG as per the

formula—

i) for predecessor co-operative bank:—

A × B

ii) for successor co-operative bank or converted banking company:—

A × D

where,—

A = the amount of deduction allowable to the predecessor

co-operative bank, if the business reorganisation had not taken place;

B = the number of days comprised in the period beginning with the 1st

day of the tax year and ending on the day immediately preceding the date of

business reorganisation; and

C = the total number of days in the tax year in which the business

UHRUJDQLVDWLRQKDVWDNHQSODFH

D = the number of days comprised in the period beginning with the

GDWHRIEXVLQHVVUHRUJDQLVDWLRQDQGHQGLQJRQWKHODVWGD\RIWKHWD[\HDU

3) 7KHSURYLVLRQVRIVHFWLRQRU1) 7DEOH6O1RRU shall, in a case

where an undertaking of the predecessor co-operative bank entitled to the

deduction under the said section is transferred before the expiry of the period

specified therein to a successor co-operative bank or to a converted banking

company on account of business reorganisation, apply to the successor

co-operative bank or to the converted banking company in the tax years

subsequent to the year of business reorganisation as they would have applied to

the predecessor co-operative bank, as if the business reorganisation had not taken

SODFH

65 )RUWKHSXUSRVHVRIVHFWLRQ––

“amalgamation” means the merger of an amalgamating

co-operative bank with an amalgamated co-operative bank, if—

i) all the assets and liabilities of the amalgamating co-operative

EDQNRUEDQNVLPPHGLDWHO\EHIRUHWKHPHUJHURWKHUWKDQWKHDVVHWV

transferred, by sale or distribution on winding up, to the amalgamated

co-operative bank) become the assets and liabilities of the

amalgamated co-operative bank;

ii) the members holding 75% or more voting rights in the

amalgamating

co-operative

bank

become

members

the

amalgamated co-operative bank; and

iii) the shareholders holding 75% or more in value of the shares

in the amalgamating co-RSHUDWLYHEDQNRWKHUWKDQWKHVKDUHVKHOGE\

98 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

the amalgamated co-operative bank or its nominee or its subsidiary,

immediately before the merger) become shareholders of the

amalgamated co-operative bank;

b) “amalgamating co-operative bank” means—

i) a co-operative bank which merges with another co-operative

bank; or

ii) every co-operative bank merging to form a new co-operative

bank;

c) “amalgamated co-operative bank” means—

i) a co-operative bank with which one or more amalgamating

co-operative banks merge; or

ii) a co-operative bank formed as a result of merger of two or

more amalgamating co-operative banks;

d) “business reorganisation” means reorganisation of business

involving the amalgamation or demerger of a co-operative bank or

conversion of a primary co-operative bank;

e) “conversion” means transition of a primary co-operative bank to a

banking company under the scheme of the Reserve Bank of India as may be

notified vide LWV FLUFXODU QXPEHU '&%5 &2 /6 3&% &LU 1R

-19, dated 27th September, 2018;

f) “converted banking company” means a banking company formed

as a result of conversion from primary co-operative bank;

g) “demerger” means the transfer by a demerged co-operative bank

of one or more of its undertakings to any resulting co-operative bank, in

such manner that—

i) all the assets and liabilities of the undertaking or undertakings

immediately before the transfer become the assets and liabilities of the

resulting co-operative bank;

ii) the assets and the liabilities are transferred to the resulting

co-RSHUDWLYHEDQNDWYDOXHVRWKHUWKDQFKDQJHLQWKHYDOXHRIDVVHWV

consequent to their revaluation) appearing in its books of account

immediately before the transfer;

iii) the resulting co-operative bank issues, in consideration of

the transfer, its membership to the members of the demerged

co-operative bank on a proportionate basis;

iv) the shareholders holding 75% or more in value of the shares

in the demerged co-RSHUDWLYHEDQNRWKHUWKDQVKDUHVDOUHDG\KHOGE\

the resulting bank or its nominee or its subsidiary immediately before

the transfer), become shareholders of the resulting co-operative bank,

otherwise than as a result of the acquisition of the assets of the

demerged co-operative bank or any undertaking thereof by the

resulting co-operative bank;

v) the transfer of the undertaking is on a going concern

basis; and

vi) the transfer is as per the conditions specified by the Central

Government, by notification, having regard to the necessity to ensure

that the transfer is for genuine business purposes;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 99

100

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

,QWHUSUHWDWLRQ

h) “demerged co-operative bank” means the co-operative bank whose

undertaking is transferred, pursuant to a demerger, to a resulting bank;

“predecessor co-operative bank” means the amalgamating

co-operative bank or the demerged co-operative bank, or the primary

co-operative bank, which has been succeeded as a result of conversion;

j) “primary co-operative bank” shall have the meaning assigned to it in

FODXVHFFYRIVHFWLRQRIWKH%DQNLQJ5HJXODWLRQ$FW

k) “resulting co-operative bank” means—

i) one or more co-operative banks to which the undertaking of

the demerged co-operative bank is transferred in a demerger; or

ii) any co-operative bank formed as a result of demerger;

“successor co-operative bank” means the amalgamated

co-operative bank or the resulting bank

66 For the purposes of Part D of this Chapter,—

1) “agreement”, for the purposes of section 26(2h), includes any

arrangement or understanding or action in concert,—

A) whether or not such arrangement, understanding or action is

formal or in writing; or

B) whether or not such arrangement, understanding or action is

intended to be enforceable by legal proceedings;

2) “banking company” means a company to which the Banking

Regulation Act, 1949 applies and includes any bank or banking institution

referred to in section 51 of that Act;

3) “commission or brokerage” shall have the meaning assigned to it

in section 4027);

4) “commodities transaction tax” shall have the same meaning as

assigned to it under Chapter VII of the Finance Act, 2013;

5) “fees for technical services” shall have the meaning assigned to it

LQVHFWLRQ7b);

6) “housing finance company” means a public company formed or

registered in India with the main object of carrying on the business of

providing long-term finance for construction or purchase of houses in India

for residential purposes;

7) “Indian Institute of Technology” shall have the same meaning as that

of “Institute” defined in section 3(g) of the Institutes of Technology Act, 1961;

8) “Keyman insurance policy” shall have the meaning assigned to it

LQ6FKHGXOH,,Note 1);

9) “limited liability partnership” shall have the same meaning as

DVVLJQHGWRLWLQVHFWLRQ1n) of the Limited Liability Partnership Act, 2008;

10) “long-term finance”, for the purposes of section 32(e), means any

loan or advance where the terms under which moneys are loaned or advanced

provide for repayment along with interest thereof during a period of not less

than five years;

11) “micro enterprise” shall be an enterprise classified as such under

the notification in this behalf by the Central Government under the Micro,

Small and Medium Enterprises Development Act, 2006;

10 of 1949

27 of

100 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

12) “mineral oil” includes petroleum and natural gas;

13) “moneys payable” in respect of any tangible asset [as referred to in

VHFWLRQ12ai@ includes—

a) any insurance, salvage or compensation moneys payable in

respect thereof;

b) where the asset is sold, the price for which it is sold;

14) “non-scheduled bank” means a banking company as defined in

VHFWLRQc) of the Banking Regulation Act, 1949, which is not a scheduled

bank;

15) “paid” means, except for section 37, actually paid or incurred

according to the method of accounting upon the basis of which the profits or

gains are computed under the head “Profits and gains of business or

profession”;

16) “permanent establishment” shall have the meaning assigned to it in

VHFWLRQc);

17) “plant” includes ships, vehicles, books, scientific apparatus and

surgical equipment used for the business or profession but does not include

tea bushes or livestock or buildings or furniture and fittings;

18) “predecessor entity” means––

the amalgamating Indian company in the

case of

amalgamation;

b) the demerged Indian company, in the case of demerger;

c) a firm, in the case of a succession of a firm by a company as

UHIHUUHGWRLQVHFWLRQ1zd);

d) a private company or unlisted public company, in case of

conversion as UHIHUUHGWRLQVHFWLRQ1ze);

19) “primary agricultural credit society” shall have the same meaning

as assigned to it in Part V of the Banking Regulation Act, 1949;

20) “primary co-operative agricultural and rural development bank”

means a society having its area of operation confined to a taluk and the

principal object of which is to provide for long-term credit for agricultural

and rural development activities;

21) “professional services” shall have the meaning assigned to it in

VHFWLRQ28);

22) “public company” shall have the same meaning as assigned to it

LQVHFWLRQ71) of the Companies Act, 2013;

23) “public financial institution” shall have the same meaning as

DVVLJQHGWRLWLQVHFWLRQ72) of the Companies Act, 2013;

24) “rate of exchange” means the rate of exchange determined or

recognised by the Central Government for the conversion of Indian currency

into foreign currency or foreign currency into Indian currency;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 101

102

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

25) “royalty” shall have the same meaning as assigned to it in

VHFWLRQ6b);

26) “rural branch” means a branch of a scheduled bank or a

non-scheduled bank situated in a place which has a population of not more

than ten thousand according to the last preceding census, of which the

relevant figures have been published before the first day of the tax year;

27) “scientific research” means—

a) any activity for the extension of knowledge in the fields of

natural or applied science including agriculture, animal husbandry or

fisheries; and

b) the references to expenditure incurred on scientific research

shall include all expenditure incurred for the prosecution, or the

provision of facilities for the prosecution, of scientific research, but

does not include any expenditure incurred in the acquisition of rights

in, or arising out of, scientific research,

and the references to scientific research related to a business or class of

business shall include any scientific research—

i) which may lead to or facilitate an extension of that business

or, all businesses of that class;

ii) of a medical nature which has a special relation to the welfare

of workers employed in that business or, all businesses of that class;

28) “securities transaction tax” shall have the meaning assigned to it

XQGHU&KDSWHU9,,RIWKH)LQDQFH1R$FW

29) “service”, for the purposes of section 26(2h), means a service of

any description which is made available to potential users and includes the

provision of services in connection with business of any industrial or

commercial nature such as––

a) accounting;

b) banking;

c) communication;

d) conveying of news or information;

e) advertising;

f) entertainment;

g) amusement;

h) education;

i) financing;

j) insurance;

k) chit funds;

l) real estate;

m) construction;

n) transport;

o) storage;

102 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

42 of 1956

17 of 2013

15 of 1992

42 of 1956

15 of 1992

22 of 1996

p) processing;

q) supply of electrical or other energy; and

r) boarding and lodging;

30) “small enterprise” shall be an enterprise classified as such under

the notification in this behalf by the Central Government under the Micro,

Small and Medium Enterprises Development Act, 2006;

31) “speculative transaction” means a transaction in which a contract

for the purchase or sale of any commodity, including stocks and shares, is

periodically or ultimately settled otherwise than by the actual delivery or

transfer of the commodity or scrips, other than the following transactions:—

a DVSHFLILHGGHULYDWLYHWUDQVDFWLRQDVGHILQHGLQFODXVH33);

b) a contract in respect of raw materials or merchandise entered

into by a person in the course of his manufacturing or merchandising

business to guard against loss through future price fluctuations in

respect of his contracts for actual delivery of goods manufactured, or

merchandise sold by him;

c) a contract in respect of stocks and shares entered into by a

dealer or investor therein to guard against loss in his holdings of stocks

and shares through price fluctuations;

d) a contract entered into by a member of a forward market or a

stock exchange in the course of any transaction in the nature of jobbing

or arbitrage, to guard against loss which may arise in the ordinary

course of his business as such member;

32) “Specified Banking or Online Mode” shall mean transaction by an

account payee cheque or an account payee bank draft or use of electronic

clearing system through a bank account or through such other electronic mode,

as may be prescribed;

33) “specified derivative transaction” means any transaction in

respect of trading in derivatives referred to in section 2 ac) of the Securities

&RQWUDFWV5HJXODWLRQ$FWRULQUHVSHFWRIWUDGLQJLQFRPPRGLW\

dHULYDWLYHV RWKHU WKDQ DJULFXOWXUDO FRPPRGLW\ GHULYDWLYHV ZKLFK LV

chargeable to commodities transaction tax under Chapter VII of the Finance

Act, 2013 or in respect of trading in agricultural commodity derivatives, if

such transactions are—

a) is carried out—

i) through a stock broker or such other intermediary

registered under section 12 of the Securities and Exchange Board

of India Act, 1992 in accordance with the provisions of the

6HFXULWLHV&RQWUDFWV5HJXODWLRQ$FWRUWKH6HFXULWLHVDQG

Exchange Board of India Act, 1992 or the Depositories

Act, 1996 and the rules, regulations or bye-laws made or

directions issued under those Acts; or

ii) by banks or mutual funds,

electronically on screen-based systems of a recognised stock exchange; and

b) supported by a time stamped contract note issued by the

intermediary to every client indicating in the contract note—

i) the unique client identity number alloted under any law

in force; and

ii) the Permanent Account Number allotted under this Act;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 103

104

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

&DSLWDOJDLQV

34) “State Government undertaking” includes—

a) a corporation established by or under any State Act;

b) a company in which more than 50% of the paid-up equity

share capital is held by the State Government;

c) a company in which more than 50% of the paid-up equity

share capital is held by the entiW\ UHIHUUHG WR LQ FODXVH a RU b)

ZKHWKHUVLQJO\RUWDNHQWRJHWKHU

d) a company or corporation in which the State Government has

the right to appoint the majority of the directors or to control the

management or policy decisions, directly or indirectly, including by

virtue of its shareholding or management rights or shareholders

agreements or voting agreements or in any other manner;

e) an authority, a board or an institution or a body established

or constituted by or under any State Act, or owned or controlled by the

State Government;

35) “State Industrial Investment Corporation” means a Government

FRPSDQ\ZLWKLQWKHPHDQLQJRIVHFWLRQ45) of the Companies Act, 2013,

engaged in the business of providing long-term finance for industrial

projects;

36) “State Financial Corporation” means a Financial Corporation

established under section 3 or 3A or an institution notified under section 46

of the State Financial Corporations Act, 1951;

37) “successor entity” means––

the amalgamated Indian company, in the case of

amalgamation;

b) the resulting Indian company, in the case of demerger;

c) a company, in case of a succession of a firm by a company

DVUHIHUUHGWRLQVHFWLRQ1zd);

d) a limited liability partnership, in case of conversion of private

company or unlisted public company to a limited liability partnership,

DVUHIHUUHGWRLQVHFWLRQ1ze);

38) “taxable commodities transaction” shall have the meaning

assigned to it under Chapter VII of the Finance Act, 2013;

39) “taxable securities transaction” shall have the meaning assigned

to it under Chapter VII of the Finance Act, 2004;

40) “University” shall have the meaning assigned to it in

VHFWLRQ2) 7DEOH6O1R

E.—Capital gains

67 1) Any profits or gains arising from the transfer of a capital asset

effected in a tax year shall, save as otherwise provided in sections 82, 83, 84, 85,

86, 87, 88 and 89, be chargeable to income-tax under the head “Capital gains” and

shall be deemed to EHWKHLQFRPHRIWKHWD[\HDULQZKLFKWKHWUDQVIHUWRRNSODFH

2) Irrespective of anything contained in sub-VHFWLRQ1), if a person receives

during any tax year any money or other assets under an insurance from an insurer

on account of damage to, or destruction of, any capital asset, as a result of

circumstances mentioned in sub-VHFWLRQ3), then,––

a) any profits or gains arising from receipt of such money or other

assets shall be chargeable to income-tax under the head “Capital gains” and

shall be deemed to be the income of such person of the tax year in which

such money or other asset was received; and

17 RI

104 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) for the purposes of section 72, the value of any money or the fair

market value of other assets on the date of such receipt shall be deemed to be

the full value of the consideration received or accruing as a result of the

WUDQVIHURIVXFKFDSLWDODVVHW

3) The following shall be the circumstances referred to in sub-VHFWLRQ2):––

a) flood, typhoon, hurricane, cyclone, earthquake or any other

convulsion of nature; or

b) riot or civil disturbance; or

c) accidental fire or explosion; or

d) action by an HQHP\RUDFWLRQWDNHQLQFRPEDWLQJDQHQHP\ZKHWKHU

ZLWKRUZLWKRXWDGHFODUDWLRQRIZDU

4) In sub-VHFWLRQ2), “insurer” shall have the same meaning as assigned to it

in section 9RIWKH,QVXUDQFH$FW

5) Irrespective of anything contained in sub-VHFWLRQ1), if any profits or gains

arises to a person from receipt of any amount, including a bonus, under a unit linked

insurance policy to which the exemption specified at Schedule II 7DEOH6O1R

does not apply, then,––

a) such profits and gains shall be chargeable to income-tax under the

head “Capital gains” and shall be deemed to be the income of such person in

the tax year in which such amount was received; and

b) the income taxable shall be calculated in such manner, as may be

prescriEHG

6) Irrespective of anything contained in sub-VHFWLRQ1), if the profits or gains

arising from the transfer by way of conversion of a capital asset into, or its treatment

by the owner as, stock-in-trade of a business carried on by him, then,––

a) such profits and gains shall be chargeable to income-tax as his

income in the tax year in which such stock-in-trade is sold or otherwise

transferred by him; and

b) for the purposes of section 72, the fair market value of the asset on

the date of such conversion or treatment shall be deemed to be the full value

of the consideration received or accruing as a result of the transfer of such

FDSLWDODVVHW

7) If any person, at any time during the tax year, had any beneficial interest

in any securities and any profits or gains arise from transfer made by the depository

or participant of such beneficial interest in respect of securities, then,––

a) such profits and gains shall be chargeable to income-tax as

the income of the beneficial owner of the tax year in which such transfer

took place;

b) such profits and gains shall not be regarded as income of the

depository who is deemed to be the registered owner of securities by virtue of

VHFWLRQ1) of the Depositories Act, 1996; and

c) for the purposes of section 72 DQG VHFWLRQ101b), the cost of

acquisition and the period of holding of any securities shall be determined on

the basis of the first-in-first-RXWPHWKRG

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 105

106

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

8) In sub-VHFWLRQ7), “beneficial owner”, “depository” and “security” shall

have the same meanings as respectively assigned to them in VHFWLRQ1)ae)

DQGl) RIWKH'HSRVLWRULHV$FW

9) If any profits or gains arise from the transfer of a capital asset by a person,

WRDILUPRURWKHUDVVRFLDWLRQRISHUVRQVRUERG\RILQGLYLGXDOVQRWbeing a company

or co-operative society) in which he is or becomes a partner or member, by way of

capital contribution or otherwise, then,––

a) such profits and gains shall be chargeable to tax as his income of the

tax year of such transfer; and

b) for the purposes of section 72 the amount recorded in the books of

account of the firm, association or body as the value of the capital asset shall

be deemed to be the full value of the consideration received or accruing as a

result of the transfer of such capLWDODVVHW

10) Irrespective of anything contained in sub-VHFWLRQ1), if a specified

person receives during the tax year, any money or capital asset, or both, from a

specified entity in connection with the reconstitution of such specified

entity, then,––

a) any profits or gains arising from such receipt shall be deemed as

income of the specified entity of the tax year of such receipt by the specified

person and chargeable to income-tax under the head “Capital gains”; and

b) such profits or gains shall be determined irrespective of anything to

the contrary contained in this Act as follows:—

A = B + C – D,

where,

A = income chargeable to income-tax under this sub-section as

income of the specified entity under the head “Capital gains”;

B = value of any money received by the specified person from the

specified entity on the date of such receipt;

C = amount of fair market value of the capital asset received by the

specified person from the specified entity on the date of such

receipt; and

' DPRXQWRIEDODQFHLQWKHFDSLWDODFFRXQWUHSUHVHQWHGLQDQ\

manner) of the specified person in the books of account of the specified

entity at the time of its reconstitution;

c IRUWKHSXUSRVHVRIFODXVHb),––

i) if the value of “A” as computed is negative, such value shall be

deemed to be zero;

ii) the balance in the capital account of the specified person in the

books of account of the specified entity shall be calculated without

considering any increase in the capital account of the specified person

due to revaluation of any asset or due to self-generated goodwill or any

other self-generated asset; and

22 of 1996

106 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

d) the provisions of this sub-section shall operate in addition to the

provisions of section 8 and the taxation under the said section shall be

worked out independently, when a capital asset is received by a specified

person from a specified entity in connection with the reconstitution of such

VSHFLILHGHQWLW\

11) In sub-VHFWLRQ10),—

a) “reconstitution of the specified entity”, “specified entity” and

“specified person” shall have the meanings respectively assigned to them in

section 8;

b) “self-generated goodwill” and “self-generated asset” mean goodwill

or asset, as the case may be, which has been acquired without incurring any

cost for purchase or which has been generated during the course of the

EXVLQHVVRUSURIHVVLRQ

12) Irrespective of anything contained in sub-VHFWLRQ1), if the capital gain

arises from the transfer of a capital asset by way of compulsory acquisition under

any law, or a transfer the consideration for which was determined or approved by

the Central Government or the Reserve Bank of India, and the compensation or the

consideration for such transfer is enhanced or further enhanced by any court,

tribunal or other authority, the capital gain shall be dealt with in the following

manner:––

a) the capital gains computed with reference to the compensation

awarded in the first instance or as the case may be, consideration determined

or approved by the Central Government or the Reserve Bank of India in the

first instance, shall be chargeable as income under the head “Capital gains” of

the tax year in which such compensation or part thereof, or such consideration

or part thereof, was first received;

b) the amount by which the compensation or consideration is enhanced

or further enhanced by the court, tribunal or other authority shall be deemed

to be income chargeable under the head “Capital gains” of the tax year in

which such amount is received;

c) any compensation DVUHIHUUHGWRLQFODXVHb) received in pursuance

of an interim order of a court, tribunal or other authority shall be deemed as

income chargeable under the head “Capital gains” of the tax year in which the

final order of such court, tribunal or other authority is made; and

d WKHFDSLWDOJDLQDVVHVVHGIRUDQ\WD[\HDUXQGHUFODXVHaRUb)

shall be recomputed where the compensation or consideration referred to

in FODXVHVaWRc) is reduced by any court, tribunal or other authority,

and such reduced value shall be taken to be the full value of the

FRQVLGHUDWLRQ

13) In relation to the amount referred to in sub-VHFWLRQ12)bDQGc),—

a) the cost of acquisition and the cost of improvement shall be taken as

nil; and

b) in a case, where the enhanced compensation or consideration is

received by any other person due to the death of the person who made the

transfer, or for any other reason, such amount shall be deemed as the income

chargeable to tax under the head “Capital gains” in the hands of such other

SHUVRQ

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 107

108

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Capital gains on

distribution of

assets by

companies in

OLTXLGDWLRQ

14) Irrespective of anything contained in sub-VHFWLRQ1), if the capital gains

DULVHV WR D SHUVRQ EHLQJ DQ LQGLYLGXDO RU D +LQGX XQGLYLGHG IDPLO\ IURP WKH

transfer of a capital asset, being land or building or both, under a specified

agreement, then,––

a) such capital gains shall be chargeable to income-tax for the tax year

in which the certificate of completion for the whole or part of the project is

issued by the competent authority; and

b) for the purposes of section 72, the stamp duty value, on the date of

issue of the said certificate, of the share of such person, being land or building

or both, in the project, as increased by any consideration received in cash or

by a cheque or draft or by any other mode shall be deemed to be the full value

of the consideration received or accruing as a result of the transfer of such

cDSLWDODVVHW

15) In sub-VHFWLRQ14),––

a) “competent authority” means the authority empowered to approve

the building plan under any law;

b) “specified agreement” means a registered agreement in which a

person owning land or building, or both, agrees to allow another person to

develop a real estate project on such land or building, or both, in consideration

of a share, being land or building or both, in such project, whether with or

without payment of part of the consideration in cash

16) The provisions of sub-VHFWLRQ14) shall not apply, if the person transfers

his share in the project on or before the date of issue of the certificate of completion,

and then,––

a) the capital gains shall be deemed to be the income of the tax year of

such transfer; and

b) the provisions of this Act, other than sub-VHFWLRQ14), shall apply for

WKHSXUSRVHRIGHWHUPLQDWLRQRIIXOOYDOXHRIFRQVLGHUDWLRQ

17) Irrespective of anything contained in sub-VHFWLRQ 1), the difference

EHWZHHQWKHUHSXUFKDVHSULFHRIWKHXQLWVUHIHUUHGWRLQVHFWLRQ&&%2) of the

Income-tax Act, 1961 and the capital value of such units shall be deemed to be the

capital gains arising to the assessee in the tax year in which––

a) such repurchase takes place; or

b WKHSODQUHIHUUHGWRLQWKDWVHFWLRQLVWHUPLQDWHG

18) For the purposes of sub-VHFWLRQ17), “capital value of such units” means

any amount invested by the assessee in the units referred to in VHFWLRQ&&%2) of

the Income-tax Act, 1961

68 1) Irrespective of anything contained in section 67, where the assets

of a company are distributed to its shareholders on its liquidation, such

distribution shall not be regarded as a transfer by the company for the purposes

of the said VHFWLRQ

2) If a shareholder, on the liquidation of a company, receives any money or

other assets from the company, then,––

a) such shareholder shall be chargeable to income-tax under the head

“Capital gains”, in respect of the money so received or the market value of the

other assets on the date of distribution, as reduced by the amount assessed as

GLYLGHQGZLWKLQWKHPHDQLQJRIVHFWLRQ40c); and

b) the sum so arrived at shall be deemed to be the full value of the

consideration for the purposes of section 72

108 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

69 1) If a shareholder or a holder of other specified securities receives any

consideration from any company for the purchase of its own shares or other

specified securities held by such shareholder or holder of other specified securities,

then, subject to the provisions of section 72, the difference between the cost of

acquisition and the value of consideration so received shall be deemed to be the

“Capital gains” arising to such shareholder or the holder of other specified

securities, as the case may be, in the year in which the company purchases the shares

RURWKHUVSHFLILHGVHFXULWLHV

2) If the shareholder receives any consideration of the nature referred to in

VHFWLRQ40f), from any company in respect of buy-back of shares, then for the

purposes of this section, the value of such consideration shall be deemed to be nil

3) For the purposes of this section, “specified securities” shall have the same

meaning as assigned to it in Explanation WRVHFWLRQRIWKH&RPSDQLHV$FW

70 1) The provisions of section 67 shall not apply to transfer—

a) by way of distribution of capital assets on the total or partial partition

of a Hindu undivided family;

b) of a capital asset by an individual or a Hindu undivided family, under

a will or a gift or an irrevocable trust;

c) of a capital asset, not being stock-in-trade, by a company to its

subsidiary company, if—

i) the parent company or its nominees hold the whole of the share

capital of the subsidiary company; and

ii) the subsidiary company is an Indian company;

d) of a capital asset, not being stock-in-trade, by a subsidiary company

to the holding company, if––

i) the whole of the share capital of the subsidiary company is held

by the holding company; and

ii) the holding company is an Indian company;

e) in a scheme of amalgamation, of a capital asset by the amalgamating

company to the amalgamated company, if the amalgamated company is an

Indian company;

f) by a shareholder, in a scheme of amalgamation, of a capital asset

being a share or shares held by him in the amalgamating company, if—

i) the transfer is made in consideration of allotment to him of any

share or shares in the amalgamated company except when the

shareholder itself is the amalgamated company; and

ii) the amalgamated company is an Indian company;

g) in a scheme of amalgamation, to him of a capital asset being a share

or shares held in an Indian company by the amalgamating foreign company to

the amalgamated foreign company, if—

i) at least 25% of the shareholders of the amalgamating foreign

company continue to remain shareholders of the amalgamated foreign

company; and

ii) such transfer does not attract tax on capital gains in the country,

in which the amalgamating company is incorporated;

Capital gains on

purchase by

company of its

own shares or

other specified

VHFXULWLHV

Transactions not

regarded as

WUDQVIHU

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 109

110

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

h) in a scheme of amalgamation, of a capital asset, being a share of a

IRUHLJQFRPSDQ\UHIHUUHGWRLQVHFWLRQ10a), which derives directly or

indirectly, its value substantially from the share or shares of an Indian

company, held by the amalgamating foreign company to the amalgamated

foreign company, if—

i) at least 25% of the shareholders of the amalgamating foreign

company continue to remain shareholders of the amalgamated foreign

company; and

ii) such transfer does not attract tax on capital gains in the country

in which the amalgamating company is incorporated;

i) of a capital asset by a banking company to a banking institution under

a scheme of amalgamation of a banking company with a banking institution

sanctioned and brought into force by the Central Government under section

7) of the Banking Regulation Act, 1949;

j) in a demerger, of a capital asset by the demerged company to the

resulting company, if the resulting company is an Indian company;

k) of shares by the resulting company or issue of shares by such

company, in a scheme of demerger to the shareholders of the demerged

company, if the transfer or issue is made in consideration of demerger of the

undertaking;

l) of a capital asset in a demerger, being a share or shares held in an

Indian company, by the demerged foreign company to the resulting foreign

company, if—

i) the shareholders holding not less than 75% in value of the shares

of the demerged foreign company continue to remain shareholders of the

resulting foreign company; and

ii) such transfer does not attract tax on capital gains in the country,

in which the demerged foreign company is incorporated,

and in such a case the provisions of sections 230 to 232 of the Companies

Act, 2013 shall not apply;

m) of a capital asset in a demerger, being a share of a foreign company,

UHIHUUHGWRLQVHFWLRQ10a), which derives directly or indirectly, its value

substantially from the share or shares of an Indian company, held by the

demerged foreign company to the resulting foreign company, if—

i) the shareholders, holding not less than 75% in value of the

shares of the demerged foreign company, continue to remain

shareholders of the resulting foreign company; and

ii) such transfer does not attract tax on capital gains in the country

in which the demerged foreign company is incorporated,

and in such a case the provisions of sections 230 to 232 of the Companies

Act, 2013 shall not apply;

n) in a business reorganisation, of a capital asset by the predecessor

co-operative bank to the successor co-operative bank or to the converted

banking company;

o) by a shareholder, in a business reorganisation, of capital asset being

share or shares held by him in the predecessor co-operative bank, if the transfer

is made in consideration of the allotment to him of any share or shares in the

successor co-operative bank or the converted banking company;

110 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

p) of a capital asset, being bonds or Global Depository Receipts as

referred to in section 2091), made outside India by a non-resident to another

non-resident;

q) made outside India, of a capital asset, being rupee denominated bond

of an Indian company issued outside India, by a non-resident to another

non-resident;

r) of a capital asset made by a non-resident on a recognised stock

exchange located in any International Financial Services Centre, where the

consideration for such transaction is paid or payable in foreign currency, and

such capital asset is—

bond or Global Depository Receipt referred to in

section 2091); or

ii) rupee denominated bond of an Indian company; or

iii) derivative; or

iv) such other securities as may benotified by the Central Government;

s) of a capital asset, being a Government security carrying a periodic

payment of interest, made outside India through an intermediary dealing in

settlement of securities, by a non-resident to another non-resident;

t) in a relocation, of a capital asset by the original fund to the

resulting fund;

u) by a shareholder or unit holder or interest holder, in a relocation, of

a capital asset being share or unit or interest held by him in the original fund

in consideration for the share or unit or interest in the resultant fund;

v) of a capital asset by India Infrastructure Finance Company Limited

to an institution established for financing the infrastructure and development,

set up under an Act of Parliament and notified by the Central Government for

the purposes of this clause;

w) of a capital asset, under a plan approved by the Central Government,

by a public sector company, to––

i) another public sector company notified by the Central

Government for the purposes of this clause; or

ii) the Central Government; or

iii) a State Government;

x) of Sovereign Gold Bond issued by the Reserve Bank of India under

the Sovereign Gold Bond Scheme, 2015, by way of redemption, by an

individual;

y) of a capital asset, being conversion of gold into Electronic Gold

Receipt issued by a Vault Manager, or conversion of Electronic Gold Receipt

into gold;

z) by way of conversion of bonds or debentures, debenture-stock or

deposit certificates in any form, of a company into shares or debentures of that

company;

za) by way of conversion of bonds referred to in section 2091)

7DEOH6O1R into shares or debentures of any company;

zb) by way of conversion of preference shares of a company into equity

shares of that company;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 111

112

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

zc) of a capital asset, being any work of art, archaeological, scientific

or art collection, book, manuscript, drawing, painting, photograph or

print, to—

i) the Government; or

ii) a University; or

iii) the National Museum, National Art Gallery or National

Archives; or

iv) such other public museum or institution as may be notified by

the Central Government to be of national importance or of renown

throughout any State;

zd) of a capital asset or intangible asset by a firm to a company as a

result of succession of the firm by a company in the business carried on by the

firm, if––

i) all the assets and liabilities of the firm relating to the business

immediately before the succession become the assets and liabilities of

the company;

ii) all the partners of the firm, immediately before the succession,

become the shareholders of the company in the same proportion in which

their capital accounts stood in the books of the firm on the date of the

succession;

iii) the partners of the firm do not receive any consideration or

benefit, directly or indirectly, in any form or manner, other than by way

of allotment of shares in the company; and

iv) the aggregate of the shareholding of the partners in the

company is not less than 50% of the total voting power and such

shareholding continues to not less than 50% for five years from the date

of succession;

ze) of a capital asset or intangible asset by a private company or unlisted

SXEOLF FRPSDQ\ KHUHLQ UHIHUUHG WR DV WKH FRPSDQ\ WR D OLPLWHG OLDELOLW\

partnership or transfer of a share or shares held in the company by a

shareholder as a result of conversion of the company into a limited liability

partnership under the provisions of section 56 or 57 of the Limited Liability

Partnership Act, 2008, if––

i) all the assets and liabilities of the company, immediately before

the conversion, become the assets and liabilities of the limited liability

partnership;

ii) all the shareholders of the company, immediately before the

conversion, become the partners of the limited liability partnership and

their capital contribution and profit sharing ratio in the limited liability

partnership are in the same proportion as their shareholding in the

company on the date of conversion;

iii) the shareholders of the company do not receive any

consideration or benefit, directly or indirectly, other than by way of share

in profit and capital contribution in the limited liability partnership;

iv) the aggregate of the profit sharing ratio of the shareholders of

the company in the limited liability partnership shall not be less than

50% at any time during five years from the date of conversion;

112 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

v) the total sales, turnover or gross receipts in the business of the

company in any of the three tax years preceding the tax year in which

the conversion takes place does not exceed sixty lakh rupees;

vi) the total value of the assets, as appearing in the books of

account of the company in any of the three tax years preceding the tax

year in which the conversion takes place does not exceed five crore

rupees; and

vii) no amount is paid, either directly or indirectly, to any partner

out of balance of accumulated profit standing in the accounts of the

company on the date of conversion for three years from the date of

conversion;

zfRIDFDSLWDODVVHWRULQWDQJLEOHDVVHWE\ZD\RIVDOHRURWKHUZLVHE\

a sole proprietorship concern to a company in case of succession of the sole

proprietorship concern by the company in the business carried on by it, if––

i) all the assets and liabilities related to the business of the sole

proprietary concern, immediately before the succession, become the

assets and liabilities of the company;

ii) the shareholding of the sole proprietor in the company is not

less than 50% of the total voting power and such shareholding continues

to be not less then 50% for five years from the date of the succession;

and

iii) the sole proprietor does not receive any consideration or

benefit, directly or indirectly, except through allotment of shares in

the company;

zg) in a scheme for lending of any securities under an agreement or

arrangement, entered into by the assessee with the borrower of such securities

and which is subject to the guidelines issued by the Securities and Exchange

Board of India or the Reserve Bank of India;

zh) of a capital asset in a transaction of reverse mortgage under a

scheme notified by the Central Government;

zi) of a capital asset, being share or shares of a special purpose vehicle

to a business trust in exchange of units allotted by that trust to the transferor;

zj) of a capital asset by a unit holder, being a unit or units, held by him

in the consolidating scheme of a mutual fund, in consideration of the allotment

to the unit holder of a capital asset, being a unit or units, in the consolidated

scheme of the mutual fund subject to the condition that the consolidation is of

two or more schemes––

i) of an equity-oriented fund; or

ii) of a fund other than equity-oriented fund;

zk) of a capital asset by a unit holder, being a unit or units, held by him

in the consolidating plan of a mutual fund scheme, in consideration of the

allotment to the unit holder of a capital asset, being a unit or units, in the

consolidated plan of that scheme of the mutual fund;

zl) of a capital asset, being an interest in a joint venture, held by a public

sector company, in exchange for shares of a company incorporated outside

India by the government of a foreign State, as per the laws of that

IRUHLJQ6WDWH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 113

114

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

2) In sub-VHFWLRQ1), the definitions mentioned in column C of the Table

below shall apply to the corresponding clauses of the said sub-section mentioned in

column B RIWKHVDLG7DEOH

Table

Sl No

Clause

Definitions

The expressions,—

a) “banking company” shall have the same meaning

DV DVVLJQHG WR LW LQ VHFWLRQ c) of the Banking

Regulation Act, 1949 RI;

b) “banking institution” shall have the same meaning

DV DVVLJQHG WR LW LQ VHFWLRQ 15) of the Banking

Regulation Act, 1949 RI1949)

n) and

“business

reorganisation”,

“converted

banking

company”,

“predecessor

co-operative

bank”

and

“successor co-operative bank” shall have the meanings

respectively assigned to them in section 65

a) “derivative” shall have the same meaning as

DVVLJQHGWRLWLQVHFWLRQac) of the Securities Contracts

5HJXODWLRQ$FW RI;

b) “securities” shall have the same meaning as

DVVLJQHGWRLWLQVHFWLRQh) of the Securities Contracts

5HJXODWLRQ$FW RI1956)

“Government Security” shall have the same meaning as

DVVLJQHGWRLWLQVHFWLRQb) of the Securities Contracts

5HJXODWLRQ$FW RI

t) and

a) “original fund” means—

A) a fund established or incorporated or registered

outside India, which collects funds from its members

for investing it for their benefit and fulfils the following

conditions:—

i) the fund is not a person resident in India;

ii) the fund is a resident of a country or a specified

territory with which an agreement referred to in

section 1591) or 2) has been entered into; or is

established or incorporated or registered in a country

or a specified territory as may be notified by the

Central Government;

iii) the fund and its activities are subject to

applicable investor protection regulations in the

country or specified territory where it is established

or incorporated or is a resident; and

iv) fulfils other conditions as may be prescribed;

114 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

B) an investment vehicle, in which Abu Dhabi

Investment Authority is the direct or indirect sole

shareholder or unit holder or beneficiary or interest

holder and such investment vehicle is wholly owned

and controlled, directly or indirectly, by the Abu Dhabi

Investment Authority or the Government of Abu

Dhabi; or

C) a fund notified by the Central Government subject

to conditions as specified;

b) “relocation” means transfer of assets of the

original fund, or of its wholly owned special purpose

vehicle, to a resultant fund on or before the

31st March, 2030, where consideration for such

transfer is discharged in the form of share or unit or

interest in the resulting fund to—

i) a shareholder or unit holder or interest holder of

the original fund, in the same proportion in which the

share or unit or interest was held by such shareholder or

unit holder or interest holder in such original fund,

in lieu of their shares or units or interests in the

original fund; or

ii) the original fund, in the same proportion as

referred to in sub-FODXVH i), in respect of which the

share or unit or interest is not issued by resultant fund

to its shareholder or unit holder or interest holder;

c) “resultant fund” means a fund established or

incorporated in India in the form of a trust or a company

or a limited liability partnership, whichis located in an

International Financial Services Centre as referred to in

section 147 and has been granted—

i) a certificate of registration as a Category I or

Category II or Category III Alternative Investment

Fund; or

ii) a certificate as a retail scheme or an Exchange

Traded Fund as per Schedule VI 1RWH and which

fulfils the conditions specified in Schedule VI

7DEOH6O1R,

and is regulated under the Securities and Exchange

%RDUG RI ,QGLD $OWHUQDWLYH Investment Funds)

Regulations, 2012 made under the Securities and

([FKDQJH %RDUG RI ,QGLD $FW RI RU

regulated under the International Financial Services

&HQWUHV $XWKRULW\ )XQG 0DQDJHPHQW 5HJXODWLRQV

2022 made under the International Financial Services

Centres Authority Act, 2019 RI

“Electronic Gold Receipt” and “Vault Manager” shall

have the same meanings as respectively assigned to them

in UHJXODWLRQ 1)h DQG l) of the Securities and

([FKDQJH

%RDUG

,QGLD

9DXOW

0DQDJHUV

Regulations, 2021 made under the Securities and

Exchange Board of India Act, 1992 of 1992)

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 115

116

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Withdrawal of

exemption in

FHUWDLQFDVHV

zc)

“University” means a University established or

incorporated by or under a Central Act or State Act or

Provincial Act and includes an institution declared under

section 3 of the University Grants Commission Act, 1956

RI, to be a University for the purposes of that

Act

ze)

“private company” and “unlisted public company” shall

have the same meanings as respectively assigned to them

in the Limited Liability Partnership Act, 2008 RI

zi)

“special purpose vehicle” shall have the meaning

assigned to it LQ6FKHGXOH9Note 2)

zj)

a) “consolidated scheme” means the scheme with

which the consolidating scheme merges or which is

formed as a result of such merger;

b) “consolidating scheme” means the scheme of a

mutual fund which merges under the process of

consolidation of the schemes of mutual fund as per the

6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD0XWXDO)XQGV

Regulations, 1996 made under the Securities and

Exchange Board of India Act, 1992 RI;

c) “equity oriented fund” means a fund—

i) where the investible funds are invested by way of

equity shares in domestic companies to the extent of

more than 65% of the total proceeds of such fund, for

which the percentage of equity shareholding shall be

computed with reference to the annual average of the

monthly averages of the opening and closing figures; and

ii) which has been set up under a scheme of Mutual

Fund specified in 6FKHGXOH9,,7DEOH6O1RRU;

d) “mutual fund” means a mutual fund specified in

6FKHGXOH9,,7DEOH6O1RRU

zk)

a) “consolidating plan” means the plan within a scheme

of a mutual fund which merges under the process of

consolidation of the plans within a scheme of mutual fund

as per WKH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD0XWXDO

Funds) Regulations, 1996 made under the Securities and

Exchange Board of India Act, 1992 RI;

b) “consolidated plan” means the plan with which the

consolidating plan merges or which is formed as a result

of such merger;

c) “mutual fund” means a mutual fund specified in

6FKHGXOH9,,7DEOH6O1R or 21)

zl)

“joint venture” means a business entity, as may be

QRWLILHGE\WKH&HQWUDO*RYHUQPHQW

71 1) The profits or gains arising from the transfer of capital asset not

charged under section 67 by virtue of section 701)cDQGd) shall, irrespective of

anything contained in the said clauses, be deemed to be income chargeable under

the head “Capital gains” of the tax year in which such transfer took place, if at any

time before the expiry of eight years from the date of such transfer,—

116 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

a) the transferee company converts the capital asset into, or treats it as,

stock-in-trade of its business; or

b) the parent company or its nominees or the holding company, ceases

RUFHDVHWRKROGWKHZKROHRIWKHVKDUHFDSLWDORIWKHVXEVLGLDU\FRPSDQ\

2) If any of the conditions laid down in section 70zd) or zf) are not complied

with, the profits or gains arising from the transfer of such capital asset or intangible

asset not charged under section 67 by virtue of such conditions shall be deemed to

be the profits and gains chargeable to tax under the head “Capital gains” of the

successor company for the tax year in which such conditions are not complied with

3) If any of the conditions laid down in section 70ze) are not complied with,

the profits or gains arising from the transfer of such capital asset or intangible assets

or share or shares not charged under section 67 by virtue of such conditions shall be

deemed to be the profits and gains chargeable to tax under the head “Capital gains”of

the successor limited liability partnership or the shareholder of the predecessor

company, for the tax year in which such conditions are not complied with

72. 1) Income chargeable under the head “Capital gains” shall be computed,

by deducting from the full value of the consideration received or accruing as a result

of the transfer of the capital asset, the following amounts:—

a) expenditure incurred wholly and exclusively in connection with such

transfer; and

b) the cost of acquisition of the asset and the cost of any improvement

thereto

2) )RUWKHSXUSRVHVRILWHP%RIWKHIRUPXODLQVHFWLRQ3), the provisions

of sub-VHFWLRQ1) shall have effect as if for the words “cost of acquisition” and “cost

of any improvement”, the words “indexed cost of acquisition” and “indexed cost of

any improvement” had respectively been substituted.

3) In computing the income chargeable under the head “Capital gains”, the

following amounts shall not be allowed as a deduction:—

a) the interest claimed as deduction under section 1b) or under

Chapter VIII;

b) any sum paid as securities transaction tax under Chapter VII of the

)LQDQFH1R$FW

4) If a unit holder receives any amount from a business trust with respect to

a unit that is not in the nature of income under Schedule V 7DEOH6O1Ror 4)

and is not chargeable to tax under section 2k) or 2232), then,––

a) such amount shall be reduced from the cost of acquisition of such

unit; and

b) if the transaction of transfer of a unit is not considered as transfer

under section 70 and cost of acquisition of such unit is determined under

section 73, the amount received with respect to such unit before as well as

DIWHUVXFKWUDQVDFWLRQVKDOOEHUHGXFHGIURPWKHFRVWRIDFTXLVLWLRQ

5) In case of value of any money or capital asset received by a specified

SHUVRQIURPDVSHFLILHGHQWLW\DVUHIHUUHGWRLQVHFWLRQ10), the specified entity,

in addition to deductions under sub-section 1), shall also be entitled to a deduction

calculated in such manner, as may be prescribed for computing the amount

chargeable to income-tax in its hands under that sub-section which is attributable to

WKHWUDQVIHURIVXFKFDSLWDODVVHW

Mode of

computation of

FDSLWDOJDLQV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 117

118

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Cost with

reference to

certain modes of

DFTXLVLWLRQ

6) In the case of an assessee, who is a non-resident, capital gains arising from

the transfer of a capital asset being shares in, or debentures of, an Indian company

RWKHUWKDQHTXLW\VKDUHVUHIHUUHGWRLQVHFWLRQ198) shall be computed––

a) by converting the cost of acquisition, expenditure incurred wholly

and exclusively in connection with such transfer and the full value of the

consideration received or accruing as a result of the transfer of the capital asset

into the same foreign currency as was initially utilised in the purchase of the

shares or debentures; and

b) the capital gains so computed in such foreign currency shall be

reconverted into Indian currency, so, however, that the said manner of

computation of capital gains shall be applicable in respect of capital gains

accruing or arising from every reinvestment thereafter in, and sale of, shares

LQRUGHEHQWXUHVRIDQ,QGLDQFRPSDQ\

7) In the case of an assessee who is a non-resident, any gains arising on

account of appreciation of rupee against a foreign currency at the time of

redemption of rupee denominated bond of an Indian company held by the

assessee, shall be ignored for computing the full value of consideration under

this section

8) For the purposes of this section,––

a) “Cost Inflation Index”, in relation to a tax year, means such Index as

the Central Government may, having regard to 75% of average rise in the

&RQVXPHU3ULFH,QGH[XUEDQIRUWKHLPPHGLDWHO\SUHFHGLQJWD[\HDUWRVXFK

tax year, by notification, specify, in this behalf;

b) “indexed cost of acquisition” means an amount which bears to the

cost of acquisition, the same proportion as Cost Inflation Index for the year in

which the asset is transferred bears to the Cost Inflation Index for the first year

in which the asset was held by the assessee or for the year beginning on

1st April, 2001, whichever is later;

c) “indexed cost of any improvement” means an amount which bears to

the cost of improvement, the same proportion as Cost Inflation Index for the

year in which the asset is transferred bears to the Cost Inflation Index for the

year in which the improvement to the asset took place; and

d) the conversion of Indian currency into foreign currency and the

reconversion of foreign currency into Indian currency shall be at such rate of

exchange as may be SUHVFULEHGLQWKLVEHKDOI

73 1) In the case of a capital asset specified in column B of the Table

below, the cost of acquisition of the asset shall be deemed to be the cost as

mentioned in column C RIWKHVDLG7DEOH

Table

6O1R

Description of the capital asset

Cost of acquisition

If the capital asset became the

property of the assessee––

a) under a gift or will; or

b) by succession, inheritance

or devolution; or

The cost for which

the previous owner of the

property acquired it, as

increased by the cost of

any

improvement

incurred or borne by the

previous owner or the

DVVHVVHH

118 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

c) on any distribution of assets on

the liquidation of a company; or

d) under a transfer to a revocable

or an irrevocable trust; or

being a Hindu undivided

family, by the mode referred to

section

after

the

31st December, 1969; or

f) under any such transfer as is

referred to in section 701)a), c),

degh), i), jlmn),

otuvwzdzeRUzf

Capital asset, being a share or shares in

an amalgamated company which is an

Indian company that became the property

of the assessee in consideration of a

transfer referred to in section 701f)

The

cost

acquisition to him of the

share or the shares in the

DPDOJDPDWLQJFRPSDQ\

Capital asset being a share or debenture

of a company, which became the property

of the assessee in consideration of a

transfer referred to in section 701z) or

za)

That part of the cost of

debenture,

debenture-

stock, bond or deposit

certificate in relation to

which

such

asset

DFTXLUHGE\WKHDVVHVVH

Capital asset, being specified security or

sweat equity shares, referred to in

VHFWLRQ1)d)

Fair

market

value

taken into account for the

purposes of the said

FODXVH

Capital asset, being rights of a partner

referred to in section 42 of the Limited

Liability Partnership Act, 2008 RI,

which became the property of the assessee

conversion

referred

section 701ze)

The

cost

acquisition to him of the

share or shares in the

company

immediately

EHIRUHLWVFRQYHUVLRQ

Capital asset, being share or shares of a

company acquired by a non-resident

assessee

redemption

Global

Depository

Receipts

referred

VHFWLRQ1) 7DEOH6O No 2) held by

such assessee

The price of the said

prevailing

any

recognised

stock

exchange on the date on

which a request for

redemption was PDGH

Capital asset, being a unit of a business

trust, which became the property of the

assessee in consideration of a transfer as

referred to in section 701zi

The

cost

acquisition to him of the

share referred to in the

VDLGFODXVH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 119

120

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Capital asset, being a unit or units in a

consolidated scheme of a mutual fund,

which became the property of the assessee

in consideration of a transfer referred to in

section 701zj)

The

cost

acquisition to him of the

unit or units in the

consolidating scheme of

WKHPXWXDOIXQG

Capital asset, being equity share of a

company, which became the property of

the assessee in consideration of a transfer

referred to in section 701zb)

That part of the cost of

the preference shares in

relation to which such

DVVHWLVDFTXLUHG

Capital asset, being a unit or units in a

consolidated plan of a mutual fund scheme,

which became the property of the assessee

in consideration of a transfer referred to in

section 701zk)

The

cost

acquisition to him of the

unit or units in the

consolidating plan of the

scheme of the mutual

IXQG

Capital asset being a unit or units in the

segregated portfolio

Computed as per the

following formula:––

X = A x B ,

where,––

cost

acquisition of the unit or

units

segregated

portfolio;

cost

acquisition of unit or

units

the

total

portfolio;

B = Net Asset

Value

the

asset

transferred

the

segregated portfolio; and

C = Net Asset

Value

the

total

portfolio

immediately

before segregation

portfolios

Capital asset being original units held

by the unit holder in the main portfolio

The

cost

acquisition

such

original units as reduced

by the amount as so

arrived at under serial

QXPEHU

120 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

Capital asset, being shares as referred to

in section 701zl) which became the

property of the assessee

The

cost

acquisition to it of the

interest

the

joint

venture referred to in the

VDLGFODXVH

Shares in the resulting company as a

result of demerger

Computed as per the

following formula:––

X = A x B ,

where,––

X = cost of

acquisition

the

resulting company;

A = cost of

acquisition

shares in demerged

company;

B = net book

value

assets

transferred

demerger; and

C = net worth of

demerged

company

immediately before

GHPHUJHU

Original shares held by the shareholder

in the demerged company

The cost of acquisition

of such original shares as

reduced by the amount so

arrived at under serial

QXPEHU

Capital asset deemed to be chargeable to

tax according to the provisions of

section 711)

Cost for which such

asset was acquired by the

WUDQVIHUHHFRPSDQ\

Capital asset being property, where the

capital gain arises from the transfer of

such property the value of which has been

subject

income-tax

under

section 922m)

The

value

taken

into

account

under

section 2m)

Capital asset declared under the Income

Declaration Scheme, 2016, where the tax,

surcharge and penalty have been paid as

per the provisions of such Scheme on the

fair market value as on the date of the

FRPPHQFHPHQWRIWKDW6FKHPH

The fair market value

of the asset taken into

account for the purposes

RIWKHVDLG6FKHPH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 121

122

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Specified capital asset referred to in

FODXVH

the

Explanation

VHFWLRQ

37A)

the

Income-tax

Act, 1961 RI , which has been

transferred after the expiry of two years

from the end of the tax year in which the

possession of such asset was handed over

to the assessee

The stamp duty value

as on the last day of the

second tax year after the

end of the tax year in

which the possession of

the said specified capital

asset was handed over to

WKHDVVHVVHH

Capital asset, being share in the project,

in the form of land or building, or both,

under section 14), not being a capital

DVVHWUHIHUUHGWRLQVHFWLRQ16)

The amount deemed

full

value

consideration

under

VHFWLRQ14)

Capital asset, being the asset held by a

trust or an institution in respect of which

accreted income has been computed and

tax paid thereon as per section 352

The fair market value

of the asset considered

for

computation

accreted income as on

specified

date as per

section 3522

Capital

asset

referred

section 262j)

The fair market value

for VHFWLRQ2j)

Capital asset, being an Electronic Gold

Receipt issued by a Vault Manager, which

became the property of the person as

consideration of a transfer, as referred to in

section 701y)

The cost of gold for

the person in whose

name Electronic Gold

Receipt is LVVXHG

Capital asset being gold released against

an Electronic Gold Receipt, which became

the property of the person as consideration

for

transfer

referred

section 701y)

The

cost

the

Electronic Gold Receipt

for VXFKSHUVRQ

2) For the purposes of the Table in sub-VHFWLRQ1), in respect of the entries

against––

a) serial number 1, “previous owner of the property” for any capital

asset owned by an assessee, means the last previous owner of the capital asset

who acquired it by a mode of acquisition other than that referred to in

column B thereof;

b) serial numbers 11 and 12, “main portfolio”, “segregated

portfolio” and “total portfolio” shall have the same meanings as

respectively

assigned

them

the

&LUFXODU

SEBI/HO/IMD/DF2/CIR/P/2018/160, dated the 28th December, 2018,

issued by the Securities and Exchange Board of India;

c) serial numbers 14 and 15, “net worth” means the total of the paid-up

share capital and general reserves as appearing in the books of account of the

demerged company immediately before the demerger;

d) serial numbers 2, 14 and 15, the provisions as contained therein,

shall, as far as may be, also apply in relation to business reorganisation of a

co-operative bank as referred to in section 64

122 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

74 1) Irrespective of anything contained in section 2101), for a capital

asset forming part of a block of assets on which depreciation has been allowed

under the Indian Income-tax Act, 1922 or under the Income-tax Act, 1961 or under

this Act, the provisions of sections 72 and 73 shall be subject to the provisions of

sub-VHFWLRQV2) and 3

2) If, during the tax year, the full value of consideration received or accruing

for the transfer of one or more assets in a block of assets exceeds the total of the

following:––

a) expenditure incurred wholly and exclusively in connection with such

transfer;

b) the written down value of the block of assets at the start of the tax

year; and

c) the actual cost of any asset falling within the block of assets acquired

during the tax year,

such excess shall be deemed to be capital gains arising from the transfer of

short-WHUPFDSLWDODVVHWV

3) If any block of assets ceases to exist for the reason that all the assets in that

block are transferred during the tax year, then,––

a) the cost of acquisition of the block of assets shall be the written down

value of the block of assets at the beginning of the tax year, as increased by

the actual cost of any asset falling within that block of assets, acquired by the

assessee during the tax year; and

b) the income received or accruing as a result of such transfer or

transfers shall be deemed to be capital gains arising from the transfer of short-

term capital assets

75 If depreciation has been obtained under section 332) for a capital asset in

any tax year, the provisions of sections 72 and 73 shall apply subject to the

modification that the written down value, as defined in section 41, of the asset, as

adjusted, shall EHWDNHQDVWKHFRVWRIDFTXLVLWLRQRIWKHDVVHW

76 1) Irrespective of anything contained in section 2101) or section 72, the

gains on the transfer or redemption or maturity, of a capital asset as mentioned in

sub-VHFWLRQ2) shall be treated as short-term capital gains and shall be computed as

per sub-VHFWLRQ3

2) For the purposes of sub-VHFWLRQ1), the capital asset shall be—

a) a unit of a Specified Mutual Fund acquired on or after the 1st April,

2023 or a Market Linked Debenture; or

b) an unlisted bond or an unlisted debenture which is transferred or

UHGHHPHGRUPDWXUHVRQRUDIWHUWKHUG-XO\

3) For the purposes of sub-VHFWLRQ1), the short-term capital gains shall be

computed as per the following formula:––

X = A – B – C,

where,––

X = short-term capital gains;

Special

provision for

computation of

capital gains in

case of

depreciable

DVVHWV

Special

provision for

cost of

acquisition in

case of

depreciable

DVVHW

Special

provision for

computation of

capital gains in

case of Market

Linked

'HEHQWXUH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 123

124

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Special

provision for

computation of

capital gains in

case of slump

VDOH

A = full value of consideration received or accruing as a result of

the transfer or redemption or maturity of the debenture or unit or bond;

B = the cost of acquisition of the debenture or unit or bond; and

C = the expenditure incurred wholly and exclusively in connection

with VXFKWUDQVIHURUUHGHPSWLRQRUPDWXULW\

4) In computing capital gains under sub-section 3), no deduction shall be

allowed for any sum paid as securities transaction tax as per Chapter VII of the

)LQDQFH1R$FW

5) For the purposes of this section,—

a) “Market Linked Debenture” means a security, by whatever name

called, which has an underlying principal component in the form of a debt

security and where the returns are linked to market returns on other underlying

securities or indices, and include any security classified or regulated as a

market linked debenture by the Securities and Exchange Board of India;

b) “Specified Mutual Fund” means a Mutual Fund, by whatever name

called, which invests more than 65% of its total proceeds in debt and money

market instruments or a fund which invests 65% or more of its total proceeds

in units of such Mutual Fund, subject to the following:––

i) the percentage of investment in debt and money market

instruments or in units of a fund shall be computed with reference to the

annual average of the daily closing figures;

ii) “debt and money market instruments” shall include any

securities, by whatever name called, classified or regulated as debt and

money market instruments by the Securities and Exchange Board of

,QGLD

77 1) Any profits or gains arising from the slump sale effected in the tax year

shall be chargeable to income-tax as long-term capital gains and shall be deemed to

be the income of the tax year in which the transfer took place, subject to the

provisions of sub-VHFWLRQ2

2) The profits and gains arising from a slump sale involving the transfer of a

capital asset, being one or more undertakings or divisions owned and held by an

assessee for thirty-six months or less, immediately before the date of its transfer,

shall be treated as short-WHUPFDSLWDOJDLQV

3) In relation to capital assets, being an undertaking or division transferred by

way of slump sale,—

a) the “net worth” of the undertaking or division shall be deemed to be

the cost of acquisition and the cost of improvement for sections 72 and 73; and

b) the fair market value of the capital assets on the date of transfer,

calculated in such manner, as may be prescribed, shall be deemed to be the

full value of the consideration UHFHLYHGRUDFFUXLQJDVDUHVXOWRIVXFKWUDQVIHU

4) Every assessee, in the case of a slump sale, shall furnish in the prescribed

form a report of an accountant, before the specified date referred to in section 63,

and the report shall––

a) include the computation of the net worth of the undertaking or

division; and

124 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) certify that the net worth has been correctly arrived at as per the

SURYLVLRQVRIWKLVVHFWLRQ

5) For the purposes of this section,––

a) the “net worth” shall be the “aggregate value of total assets” of the

undertaking or division, as reduced by the value of its liabilities as appearing

in the books of account, and for computing net worth, any change in the value

of assets due to revaluation shall be ignored;

b) the “aggregate value of total assets” shall,—

i) for depreciable assets, be the written down value of the block

of assets determined under VHFWLRQ1)c);

ii) for capital asset being goodwill of a business or profession,

which was not acquired by the assessee by purchase from a previous

owner, be nil;

iii) for capital assets for which the entire expenditure has been

allowed or is allowable as a deduction under section 46, be nil; and

iv IRURWKHUDVVHWVEHWKHERRNYDOXH

78 1) If the consideration received or accruing from the transfer of a capital

asset, being land or building or both, is less than the stamp duty value, then, for

the purposes of section 72, the stamp duty value shall be deemed to be the full

value of the consideration received or accruing as a result of such transfer, subject

to the following:––

a) the stamp duty value on the date of agreement may be taken as the

full value of consideration, if––

i) the date of the agreement fixing the consideration and the date

of registration for the transfer of the capital asset are not the same; and

ii) part or full consideration is received on or before the date of

the agreement in “specified banking or online mode” as defined in

VHFWLRQ32);

b) if the stamp duty value does not exceed 110% of the consideration

received or accruing from such transfer, such consideration shall be deemed

to be the full value of the consideration for section 72

2) Without prejudice to the provisions of sub-VHFWLRQ1), the Assessing

Officer may refer the valuation of the capital asset to a Valuation Officer, and

the provisions of section 3 WR 8), shall, with necessary modifications,

apply in relation to such reference, where––

a) the assessee claims that the stamp duty value exceeds the fair market

value of the property as on the date of transfer; and

b) the stamp duty value has not been disputed in any appeal or revision

or no reference has been made before any other authority, court or the

+LJK&RXUW

Special

provision for full

value of

consideration in

FHUWDLQFDVHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 125

126

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Special

provision for full

value of

consideration for

transfer of share

other than

TXRWHGVKDUH

Fair market

value deemed to

be full value of

consideration in

FHUWDLQFDVHV

Advance money

UHFHLYHG

Profit on sale of

property used for

UHVLGHQFH

3) If the value determined by the Valuation Officer on a reference made under

sub-VHFWLRQ2) exceeds the stamp duty value, such stamp duty value shall be taken

as the full value of consideration

79 1) If the consideration received or accruing from the transfer of a capital

asset, being share of a company other than a quoted share, is less than the fair market

value of such share determined in the manner as may be prescribed, the value so

determined shall be deemed to be the full value of consideration received or accruing

as a result of such transfer for the purposes of section 72

2) The provisions of sub-VHFWLRQ1) shall not apply to any consideration received

or accruing as a result of transfer by such class of persons and subject to such conditions,

as may be SUHVFULEHG

3) For the purposes of this section, the expression “quoted share” means the share

quoted on any recognised stock exchange with regularity from time to time, where the

quotation of such share is based on current transaction made in the ordinary course of

EXVLQHVV

80 If the consideration received or accruing from the transfer of a capital asset

is not ascertainable or cannot be determined, its fair market value on the date of

transfer shall be deemed to be the full value of consideration received or accruing

as a result of such transfer for the purposes of computing income under the head

“Capital gains”.

81 Where any capital asset was, on any previous occasion, the subject of

negotiations for its transfer, any advance or other money received and retained by

the assessee in respect of such negotiations––

a) shall be deducted from the cost for which the asset was acquired or

the written down value or the fair market value, as the case may be, in

computing the cost of acquisition;

b) shall not be deducted from the said cost, where such advance or other

money has been included in the total income of the assessee for any tax year

as per the provisions of section 922h) RIWKLV$FWRUVHFWLRQ2ix) of the

Income-tax Act, 1961

82 1) Where an individual or Hindu undivided family––

a) has long-term capital gains arising from the transfer of a capital asset,

being buildings or lands appurtenant thereto, and being a residential house, the

income of which is chargeable under the head “Income from house property”

RULJLQDODVVHWDQG

b) has within one year before or two years after the date of such transfer

purchased, or has within three years after that date constructed, one residential

KRXVHLQ,QGLDQHZDVVHW

then, instead of the capital gain being charged to income-tax as income of the tax

year in which the transfer took place, it shall be dealt with as follows:—

i) if the capital gains exceeds the cost of the new asset, such excess shall

be charged under section 67, and for computing capital gains arising from the

transfer of the new asset within three years of its purchase or construction, the

cost shall be nil; or

126 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

ii) if the capital gains is equal to or less than the cost of the new asset,

no capital gains shall be charged under section 67 and for computing capital

gains from the transfer of the new asset within three years of its purchase or

construction, the cost shall be reduced by the amoXQWRIWKHFDSLWDOJDLQV

2) If the capital gains referred to in sub-VHFWLRQ1) is not used by the assessee

to purchase the new asset within one year before the date of transfer of the original

asset, or is not utilised for the purchase or construction of the new asset before filing

the return of income under section 263, then—

a) the unutilised amount shall be deposited in a specified bank or

institution and utilised as per the scheme notified by the Central Government;

b) such deposit shall be made before the filing of the return and not later

than the due date applicable in the case of the assessee for filing the return of

income under section 2631); and

c) the proof of deposit shall be submitted along with such return

3) For the purposes of sub-VHFWLRQ 1), the amount, already utilised for

purchasing or constructing the new asset, together with the deposited amount under

sub-VHFWLRQ2) shall, subject to sub-VHFWLRQ7), be deemed to be the cost of the new

DVVHW

4) If the amount deposited under sub-VHFWLRQ 2) is not fully utilised for

purchasing or constructing the new asset within the period specified in

sub-VHFWLRQ1), then,—

a) the unutilised amount shall be charged to tax under section 67 as the

income of the tax year in which the period of three years from the date of the

transfer of the original asset expires; and

b) the assessee shall be entitled to withdraw such unutilised amount in

accordance with the scheme referred to in sub-VHFWLRQ2)

5) If the capital gains under sub-VHFWLRQ1) does not exceed two crore rupees,

the assessee may, at his option, purchase or construct two residential houses in India,

and where such option has been exercised,—

a) for the purposes of sub-VHFWLRQ 1)b), “one residential house in

India” shall be read as “two residential houses in India”; and

b) for the purposes of sub-sections 1)b) DQG2), “new asset” shall

PHDQWZRUHVLGHQWLDOKRXVHVLQ,QGLD

6) If during any tax year, the assessee has exercised the option mentioned in

sub-VHFWLRQ5), he shall not be entitled to exercise such option for the same tax year

RUDQ\RWKHUWD[\HDU

7) If the cost of new asset exceeds ten crore rupees, the amount exceeding

ten crore rupees shall not be taken into account for the purposes of sub-VHFWLRQ1

8) If the capital gains on the transfer of original asset exceeds ten crore rupees,

the amount exceeding ten crore rupees shall not be taken into account for the

purposes of sub-VHFWLRQ2

83 1) Where an assessee, being an individual or a Hindu undivided

family,––

a) has capital gains arising from the transfer of a capital asset, being

land, which was used by the assessee or his parent, or the Hindu undivided

IDPLO\ IRU DJULFXOWXUDO SXUSRVHV RULginal asset), in two years immediately

preceding the date of transfer; and

Capital gains on

transfer of land

used for

agricultural

purposes not to

be charged in

FHUWDLQFDVHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 127

128

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Capital gains on

compulsory

acquisition of

lands and

buildings not to

be charged in

FHUWDLQFDVHV

b) has, within two years after that date, purchased any other land for

EHLQJXVHGIRUDJULFXOWXUDOSXUSRVHVQHZDVVHW

then, instead of the capital gains being charged to income-tax as income of the tax

year in which the transfer took place, it shall be dealt with as follows:—

i) if the capital gains exceed the cost of the new asset, such excess shall

be charged under section 67, and for computing any capital gains arising from

the transfer of the new asset within three years of its purchase, the cost shall

be nil; or

ii) if the capital gains is equal to or less than the cost of the new asset,

no capital gains shall be charged under section 67, and for computing any

capital gains arising from the transfer of the new asset within three years of its

purchaVHWKHFRVWVKDOOEHUHGXFHGE\WKHDPRXQWRIWKHFDSLWDOJDLQV

2) If the capital gains referred to in sub-VHFWLRQ1) is not utilised by the assessee

to purchase the new asset before filing the return of income under section 263, then––

a) the unutilised amount shall be deposited in a specified bank or

institution and utilised as per the scheme notified by the Central Government;

b) such deposit shall be made before the filing of the return and not later

than the due date applicable in the case of the assessee for filing the return of

income under section 2631); and

c) the proof of deposit shall be submitted along with such UHWXUQ

3) For the purposes of sub-VHFWLRQ 1), the amount already utilised for

purchasing the new asset together with the deposited amount under sub-VHFWLRQ2),

shall be deemed WREHWKHFRVWRIWKHQHZDVVHW

4) If the amount deposited under sub-VHFWLRQ 2) is not fully utilised for

purchase of the new asset within the period specified in sub-VHFWLRQ1), then,—

a) the unutilised amount shall be charged under section 67 as the

income of the tax year in which two years from the date of the transfer of the

original asset expires; and

b) the assessee shall be entitled to withdraw such unutilised amount in

accordance with the scheme referred to in sub-VHFWLRQ2

84 1) Where an assessee has––

a) capital gains arising from the transfer by way of compulsory

acquisition under any law, of a capital asset being land or building or any right

in land or building, forming part of an industrial undertaking belonging to him,

which was being used by the assessee for the business of the said undertaking

in the WZR\HDUVLPPHGLDWHO\SUHFHGLQJWKHGDWHRIWUDQVIHURULJLQDODVVHW

and

b) within three years after that date, purchased any other land or

building or any right in any other land or building or constructed any other

building for shifting or re-establishing the said undertaking or setting up

DQRWKHULQGXVWULDOXQGHUWDNLQJQHw asset),

then, instead of the capital gain being charged to income-tax as income of the tax

year in which the transfer took place, it shall be dealt with as follows:—

i) if the capital gains exceeds the cost of new asset, such excess shall be

charged under section 67, and for computing any capital gains arising from

the transfer of the new asset within three years of its purchase or construction,

the cost shall be nil; or

128 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

ii) if the capital gains is equal to or less than the cost of new asset, no

capital gains shall be charged under section 67 and for computing capital gains

from the transfer of the new asset within three years of its purchase or

construction, the cost shall be reduced by the amount RIWKHFDSLWDOJDLQV

2) If the capital gains referred to in sub-VHFWLRQ1) is not utilised by the

assessee to purchase the new asset before filing the return of income under section

263, then––

a) the unutilised amount shall be deposited in a specified bank or

institution and utilised as per the scheme notified by the Central Government;

b) such deposit shall be made before the filing of the return not later

than the due date applicable in the case of the assessee for filing the return of

income under the section 1); and

c) the proof of deposit shall be submitted along with such return

3) For the purposes of sub-VHFWLRQ 1), the amount already utilised for

purchasing or constructing the new asset together with the deposited amount under

sub-VHFWLRQ2), shall be deemed WREHWKHFRVWRIWKHQHZDVVHW

4) If the amount deposited under sub-VHFWLRQ2) is not fully utilised for the

purchase or construction of the new asset within the period specified in

sub-sectioQ1), then,—

a) the unutilised amount shall be charged under section 67 as the

income of the tax year in which three years from the date of the transfer of the

original asset expires; and

b) the assessee shall be entitled to withdraw such unutilised amount in

accordance with the scheme referred to in sub-VHFWLRQ2)

85 1) Where an assessee has––

a) long-term capital gains arising from the transfer of land or building,

RUERWKRULJLQDODVVHWDQG

b) within six months after the date of such transfer, invested whole or

part of the capital gains in a long-WHUPVSHFLILHGDVVHWQHZDVVHW

then, the capital gains shall be dealt with as follows:—

i) if the capital gains exceed the investment in the new asset, the

amount of capital gains as exceeds such investment shall be charged under

section 67; or

ii) if the capital gains is equal to or less than the investment in the new

asset, the whole of such capital gains shall not be charged under section 67

2) For the purposes of sub-VHFWLRQ1), investment made in the long-term

specified asset from capital gain arising from transfer of one or more original asset

shall not exceed fifty lakh rupees,––

a) during any tax year; or

b) in the year of transfer of the original asset or assets and in the

VXEVHTXHQWWD[\HDU

3 ,IWKHQHZDVVHWLVWUDQVIHUUHGRUFRQYHUWHGRWKHUZLVHWKDQE\WUDQVIHULQWR

money within five years of its acquisition, the capital gains not charged under

section 67 as per sub-VHFWLRQ 1), shall be deemed to be income chargeable as

long-WHUPFDSLWDOJDLQVLQWKHWD[\HDURILWVWUDQVIHURUFRQYHUVLRQ

Capital gains not

to be charged on

investment in

FHUWDLQERQGV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 129

130

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Capital gains on

transfer of

certain capital

assets not to be

charged in case

of investment in

residential

KRXVH

4) Any loan or advance taken on the security of the new asset shall be deemed

to have converted the new asset into money RQWKHGDWHRIVXFKORDQRUDGYDQFH

5) Where the investment in the new asset has been taken into account for

sub-VHFWLRQ1), no deduction under section 123 for any tax year shall be allowed for

VXFKLQYHVWPHQW

6) For the purposes of sub-VHFWLRQ1), “long-term specified asset” means any

bond, redeemable after five years and issued on after the 1st April 2018, by the National

Highways Authority of India constituted under section 3 of the National Highways

Authority of India Act, 1988 or by the Rural Electrification Corporation Limited, a

company formed and registered under the Companies Act, 2013 or any other bond as

may be notified by the Central Government for the purposes of this section

86 1) If an individual or a Hindu undivided family has––

a) capital gains arising from the transfer of any long-term capital asset,

QRWEHLQJDUHVLGHQWLDOKRXVHRULJLQDODVVHWDQG

b) within one year before, or two years after, the date of such transfer,

purchased, or has within three years after that date constructed, one residential

KRXVHLQ,QGLDQHZDVVHW

then, the capital gains shall be dealt with as follows:—

i) if the net consideration is more than the cost of the new asset, so much

of the capital gains as bears to the whole of the capital gains, the same

proportion as the cost of the new asset bears to the net consideration, shall not

be charged under section 67; or

ii) if the net consideration is equal to or less than the cost of the new

asset, no capital gains shall be charged under section 67

2) If the net consideration referred to in sub-VHFWLRQ1) is not utilised by the

assessee to purchase the new asset within one year before the date of transfer of the

original asset, or is not utilised for the purchase or construction of the new asset

before filing the return of income under section 263, then,––

a) the unutilised amount shall be deposited in a specified bank or

institution and utilised as per the scheme notified by the Central Government;

b) such deposit shall be made before the filing of the return and not later

than the due date applicable in the case of the assessee for filing the return of

income under section 263; and

c) the proof of deposit shall be submitted along with such UHWXUQ

3) For the purposes of sub-VHFWLRQ 1), the amount already utilised for

purchasing or constructing the new asset together with the deposited amount under

sub-VHFWLRQ2) shall, subject to sub-VHFWLRQ8), be deemed to be the cost of the new

DVVHW

4) If the amount deposited under sub-VHFWLRQ 2) is not wholly or partly

utilised for purchasing or constructing the new asset within the period specified in

sub-VHFWLRQ1), then,––

a) the amount determined as per the following formula shall be charged

under section 67 as income of the tax year in which three years from the date

of the transfer of the original asset expires:––

X—Y,

where,––

X = the capital gains not charged under section 67 as per

sub-VHFWLRQ1)

68 of 1988

18 of 2013

130 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

Y = the capital gains that would not have been charged under

section 67, if the cost of the new asset had been taken to be the amount

actually utilised for purchase or construction of the new asset;

b) the assessee shall be entitled to withdraw such unutilised amount in

accordance with the scheme referred to in sub-VHFWLRQ2)

5) The provisions of sub-VHFWLRQ1) shall not apply, if––

a) the assessee—

i) owns more than one residential house, other than the new asset,

on the date of transfer of the original asset; or

ii) purchases any residential house, other than the new asset,

within one year of transfer of the original asset; or

iii) constructs any residential house, other than the new asset,

within three years of transfer of the original asset; and

b) the income from such residential house, other than the one residential

house owned on the date of transfer of the original asset, is chargeable under

the head “Income from house property”.

6) If the assessee purchases, within two years after the date of transfer of

the original asset, or constructs, within three years after such date, any

residential house, the income from which is chargeable under the head “Income

from house property”, other than the new asset, the capital gains not charged

under section 67 on the basis of cost of such new asset as per sub-VHFWLRQ1),

shall be charged as long-term capital gains of the tax year in which such

UHVLGHQWLDOKRXVHLVSXUFKDVHGRUFRQVWUXFWHG

7) If the new asset is transferred within three years from the date of purchase

or its construction, the capital gains not charged under section 67 on the basis of

cost of such new asset as per sub-VHFWLRQ1) shall be charged as long-term capital

JDLQVRIWKHWD[\HDULQZKLFKVXFKQHZDVVHWLVWUDQVIHUUHG

8) If the cost of the new asset exceeds ten crore rupees, the amount exceeding

ten crore rupees, shall not be taken into account for the purposes of sub-VHFWLRQ1

9) If the net consideration on the transfer of original asset exceeds

ten crore rupees, the amount exceeding ten crore rupees, shall not be taken into

account for the purposes of sub-VHFWLRQ2

10) For the purposes of this section, “net consideration” means the full value

of the consideration received or accruing as a result of the transfer of the original

asset as reduced by any expenditure incurred wholly and exclusively in connection

ZLWKVXFKWUDQVIHU

87 1) If the assessee has––

a) capital gains arising from the transfer of capital asset, being

machinery or plant or building or land or any rights in building or land used

for the business of an industrial undertaking situated in an urban area, effected

in the case of shifting of an industrial undertaking situated in an urban area

RULJLQDODVVHWWRDQ\DUHD [other than an urban area QHZDUHD@; and

b) within one year before or three years after the date of such transfer,—

i) purchased new machinery or plant for business of the industrial

undertaking in the new area;

Exemption of

capital gains on

transfer of assets

in cases of

shifting of

industrial

undertaking

IURPXUEDQDUHD

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 131

132

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

ii) acquired building or land or constructed building for his

business in the said area;

iii) shifted the original asset and transferred the establishment of

such undertaking to such area; and

iv) incurred expenses on such other purpose as specified in a

scheme notified by the Central Government for this section,

then, instead of the capital gains being charged to income-tax as income of the

tax year in which the transfer took place, it shall be dealt with as follows:—

A) if the cost and expenses incurred on all or any of the purposes

mentioned in sub-FODXVHViWRiv) referred to as “new asset”,––

I) is less than the capital gains, the difference shall be

charged under section 67 as the income of the tax year; or

II) is equal to or more than the capital gain, no capital gain

shall be charged under section 67; and

B) for computing any capital gain arising from transfer of the

new asset within three years of its being purchased, acquired,

constructed or transferred, the cost shall be nil in case of

sub-clauseA)II) or shall be reduced by the amount of the capital

gain in case of sub-clause A)I)

2) If the capital gain is not used by the assessee for the new asset within one

year before the date of transfer of the original asset, or before filing the return of

income under section 263, then––

a) the unutilised amount shall be deposited in a specified bank or

institution and utilised as per the scheme notified by the Central

Government;

b) such deposit shall be made before the filing of the return and not later

than the due date applicable in the case of the assessee for filing the return of

income under section 1); and

c) the proof of deposit shall be submitted along with such UHWXUQ

3) For the purposes of sub-VHFWLRQ 1), the amount already utilised for

purchasing or constructing the new asset together with the deposited amount under

sub-VHFWLRQ2) shall be deemed WREHWKHFRVWRIWKHQHZDVVHW

4) If the amount deposited under sub-VHFWLRQ 2) is not wholly or partly

utilised for the new asset within the period specified in sub-VHFWLRQ1), then,—

a) the unutilised amount shall be charged under section 67 as the

income of the tax year in which the period of three years from the date of the

transfer of the original asset expires; and

b) the assessee shall be entitled to withdraw such unutilised amount in

accordance with the scheme referred to in sub-VHFWLRQ2)

5) For the purposes of this section, the expression “urban area” means any

area within the limits of a municipal corporation or municipality, declared to be an

urban area by the Central Government for the purposes of this section, having regard

to––

a) the population;

b) concentration of industries; and

132 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

c QHHGIRUSURSHUSODQQLQJRIWKHDUHDDQGRWKHUUHOHYDQWIDFWRUV

88 1) Irrespective of anything contained in section 87, if the assessee has––

a) capital gains arising from the transfer of a capital asset, being machinery

or plant or building or land or any rights in building or land used for the business

of an industrial undertaking situated in an urban area, effected in the course of or

in consequHQFHRIVKLIWLQJRIVXFKLQGXVWULDOXQGHUWDNLQJRULJLQDODVVHWWRDQ\

Special Economic Zone in any urban or any other area; and

b) has within one year before or three years after the date of such

transfer,—

i) purchased machinery or plant for the business of the industrial

undertaking in such Special Economic Zone;

ii) acquired building or land or constructed building for his

business in such Special Economic Zone;

iii) shifted the original asset and transferred the establishment of

such undertaking to such Special Economic Zone; and

iv) incurred expenses on such other purposes specified by a

scheme notified by the Central Government in this behalf,

then, instead of capital gain being charged to income-tax as income of the tax

year in which the transfer took place, it shall be dealt with as follows:—

A) if the cost and expenses incurred in on all or any of the purposes

mentioned sub-FODXVHViWRiv) referred to as “new asset”,––

I) is less than the capital gains, the difference shall be

charged under section 67 as the income of the tax year; or

II) is equal to or more than the capital gains, no capital gain

shall be charged under section 67;

B) for computing any capital gain arising from transfer of the new

asset within three years of its being purchased, acquired, constructed or

transferred, the cost shall be nil in case of sub-clause A)II), or shall be

reduced by the amount of the capital gain in case of sub-clause A)I

2) If the capital gain referred to in sub-VHFWLRQ 1) is not utilised by the

assessee for the new asset within one year before the transfer of the original asset,

or before filing the return of income under section 263, then,––

a) the unutilised amount shall be deposited in a specified bank or

institution and utilised as per the scheme notified by the Central Government;

b) such deposit shall be made before the filing of the return and not later

than the due date applicable in the case of the assessee for filing the return of

income under section 1); and

c) the proof of deposit shall be submitted along with such UHWXUQ

3) For the purposes of sub-VHFWLRQ 1), the amount already utilised for

purchasing or constructing the new asset together with the deposited amount under

sub-VHFWLRQ2) shall be deemed WREHWKHFRVWRIWKHQHZDVVHW

Exemption of

capital gains on

transfer of assets

in cases of

shifting of

industrial

undertaking

from urban area

to any Special

(FRQRPLF=RQH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 133

134

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Extension of

time for

acquiring

new asset or

depositing or

investing

amount of

FDSLWDOJDLQV

Meaning of

“adjusted”,

“cost of

improvement”

and “cost of

acquisition”.

4) If the amount deposited under sub-VHFWLRQ2) is not wholly or partly

utilised for the new asset within the period specified in sub-VHFWLRQ1), then,—

a) the unutilised amount shall be charged under section 67 as the

income of the tax year in which the period of three years from the date of the

transfer of the original asset expires; and

b) the assessee shall be entitled to withdraw such unutilised amount in

accordance with the scheme referred to in sub-VHFWLRQ2)

5) For the purpose of this section, the expression “urban area” shall have the

meaning assigned to it in section 87

89. Irrespective of anything contained in sections 82, 83, 84, 85 and 86,––

a) if the transfer of the original asset mentioned in those sections is by

way of compulsory acquisition under any law; and

b) if the compensation awarded for such acquisition is not received by

the assessee on the date of transfer, then, the period available to him under

those sections for acquisition of the new asset or investment or deposit of

capital gain in specified bank or institution shall be reckoned from the date

RIUHFHLSWRIFRPSHQVDWLRQ

90. 1) For the purposes of sections 72 and 73, “cost of improvement”,—

a) in relation to a capital asset being goodwill or any intangible asset

of a business, or a right to manufacture, produce or process any article or

thing, or right to carry on any business or profession, or any other right, shall

be taken to be nil; and

b) in relation to any other capital asset,—

i) if the capital asset became the property of the previous owner

or the assessee before the 1st April, 2001, means all expenditure of a

capital nature incurred on or after the said date in making any additions

or alterations to the capital asset by the previous owner or the

assessee; and

ii) in any other case, means all expenditure of a capital nature

incurred in making any additions or alterations to the capital asset by

the assessee after it became his property, and, where the capital asset

became the property of the assessee by any of the modes specified in

section 73 7DEOH 6O1R 1)E\WKHSUHYLRXVRZQHU

2) For the purposes of sub-VHFWLRQ1b), the cost of improvement does not

include any expenditure which is deductible in computing the income chargeable

under the head “Income from house property”, “Profits and gains of business or

profession” or “Income from other sources”.

3) For the purposes of sections 72 and 73, “cost of acquisition” of a capital

DVVHWEHLQJJRRGZLOORIDEXVLQHVVRUSURIHVVLRQRUDWUDGHPDUNRUEUDQGQDPH

associated with a business or profession, or any other intangible asset, or a right to

manufacture, produce or process any article or thing, or a right to carry on any

business or profession, or tenancy rights, or stage carriage permits, or loom hours,

or any other right) means—

a) the purchase price, if acquisition of such asset by the assessee is by

purchase from the previous owner; and

b) the purchase price for the previous owner, in the case covered in

VHFWLRQ7DEOH6O1RZKHUHVXFKDVVHWZDVDFTXLUHGE\SXUFKDVHE\

the previous owner as defined in sub-VHFWLRQ2) of the said section; and

134 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

c) nilLQDQ\RWKHUFDVH

4) For the purposes of sub-VHFWLRQ3aRUb), if—

a) the capital asset is goodwill of a business or profession; and

b) the assessee has obtained a deduction on account of depreciation

XQGHUVHFWLRQ1) of the Income-tax Act, 1961 in a tax year preceding the

tax year commencing on the 1st April, 2020,

then the total amount of depreciation obtained before the tax year commencing on

the 1st $SULOVKDOOEHUHGXFHGIURPWKHDPRXQWRISXUFKDVHSULFH

5) For the purposes of sections 72 and 73, and subject to the provisions of

sub-sections 9)aDQGb), “cost of acquisition” shall be as per sub-VHFWLRQ6), in a

case where, by virtue of holding a capital asset, being a share or any other security,

ZLWKLQWKHPHDQLQJRIVHFWLRQhRIWKH6HFXULWLHV&RQWUDFWV5HJXODWLRQ$FW

KHUHLQUHIHUUHGWRDVWKHILQDQFLDODVVHWWKHDVVHVVHH—

a) becomes entitled to subscribe to any additional financial asset; or

b) is allotted any additional financiDODVVHWZLWKRXWDQ\SD\PHQW

6) In a case referred to in sub-VHFWLRQ5), “cost of acquisition”, in relation to––

a) the original financial asset, on the basis of which the assessee

becomes entitled to any additional financial asset, means the amount actually

paid for acquiring the original financial asset;

b) any right to renounce the said entitlement to subscribe to the

financial asset, when such right is renounced by the assessee in favour of any

person, shall be taken to be nil in the case of such assessee;

c) the financial asset, to which the assessee has subscribed on the basis of

the said entitlement, means the amount actually paid by him for acquiring

such asset;

d) the financial asset allotted to the assessee without any payment and on

the basis of holding of any other financial asset, shall be taken to be nil; and

e) any financial asset purchased by any person in whose favour the

right to subscribe to such asset has been renounced, means the total amount

of the purchase price paid by him to the person renouncing such right and the

amount paid by him to the company or institution, for acquiring such

ILQDQFLDODVVHW

7) For the purposes of sections 72 and 73, “cost of acquisition”, subject to

sub-sections 9)a) and b), in relation to a long-term capital asset, being an equity share

in a company or a unit of an equity oriented fund or a unit of a business trust referred

to in section 198, acquired before the 1st February, 2018, shall be higher of—

a) the cost of acquisition of such asset; and

b) lower of—

i) the fair market value of such asset; and

ii) the full value of consideration received or accruing as a result

RIWKHWUDQVIHURIWKHFDSLWDODVVHW

8) For the purposes of sub-VHFWLRQ7),—

a) “Cost Inflation Index”, shall have the meaning assigned to it in

VHFWLRQ8a);

b) “fair market value” means,—

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 135

136

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

i) in a case where the capital asset is listed on any recognised

stock exchange as on the 31st January, 2018, the highest price of the

capital asset quoted on such exchange on that date;

ii) in a case where there is no trading in such asset on such

exchange on the 31st January, 2018, as mentioned in sub-clause i)

the highest price of such asset on such exchange on a date

immediately preceding the 31st January, 2018 when such asset was

traded on such exchange shall be the fair market value;

iii) if the capital asset is a unit which is not listed on a recognised

stock exchange as on the 31st January, 2018, the net asset value of such

unit as on that date;

iv) if the capital asset is an equity share in a company which is—

A) not listed on a recognised stock exchange as on the

31st January, 2018 but listed on such exchange on the date of

transfer;

B) not listed on a recognised stock exchange as on the

31st January, 2018, or which became the property of the assessee

in consideration of share which is not listed on such exchange as

on the 31st January, 2018 by way of transaction not regarded as

transfer mentioned in section 70, but listed on such exchange

VXEVHTXHQW WR WKH GDWH RI WUDQVIHU ZKHUH VXFK WUDQVIHU LV LQ

respect of sale of unlisted equity shares under an offer for sale to

the public included in an initial public offer);

C) listed on a recognised stock exchange on the date of

transfer and which became the property of the assessee in

consideration of share which is not listed on such exchange as on

the 31st January, 2018 by way of transaction not regarded as

transfer mentioned in section 70,

an amount which bears to the cost of acquisition the same proportion

as Cost Inflation Index for the tax year 2017-18 bears to the Cost

Inflation Index for the first year in which the asset was held by the assessee

RUIRUWKH\HDUEHJLQQLQJRQWKHVW$SULOZKLFKHYHULVODWHU

a) if the capital asset became the property of the assessee before the

1st April, 2001, subject to sub-VHFWLRQ10), shall be the cost of acquisition of

the asset to the assessee or its fair market value on the 1st April, 2001, at the

option of the assessee;

b) if the capital asset became the property of the assessee by any of

the modes specified in section 73 7DEOH6O1R, and the capital asset

became the property of the previous owner before the 1st April, 2001,

subject to sub-VHFWLRQ10), shall be the cost of the capital asset to the

previous owner or its fair market value on the 1st April, 2001, at the

option of the assessee;

c) if the capital asset became the property of the assessee on the

distribution of the capital assets of a company on its liquidation and the

assessee has been assessed to income-tax under the head “Capital gains” in

respect of that asset under section 68, means the fair market value of the asset

on the date of distribution;

d) if the capital asset, being a share or a stock of a company, became

the property of the assessee on—

)RUWKHSXUSRVHVRIVHFWLRQVDQGFRVWRIDFTXLVLWLRQLQUHODWLRQWR

DQ\RWKHUFDSLWDODVVHW²

136 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

i) the consolidation and division of all or any of the share capital

of the company into shares of larger amount than its existing shares; or

ii) the conversion of any shares of the company into stock; or

iii) the re-conversion of any stock of the company into shares; or

iv) the sub-division of any of the shares of the company into

shares of smaller amount; or

v) the conversion of one kind of shares of the company into

another kind,

means the cost of acquisition of the asset calculated with reference to the cost of

DFTXLVLWLRQRIWKHVKDUHVRUVWRFNIURPZKLFKVXFKDVVHWLVGHULYHG

10) In case of a capital asset referred to in sub-VHFWLRQ9)aDQGb), being

land or building, or both, the fair market value of such asset on the

1st April, 2001 for the said sub-VHFWLRQaDQGb) shall not exceed the stamp duty

value, wherever available, of such asset as on the 1st AprLO

11) If the cost for which the previous owner acquired the property cannot be

ascertained, the cost of acquisition to the previous owner shall be the fair market value

on the date on which the capital asset became the property of the previous ownHU

12) For the purposes of sections 72 and 73, cost of acquisition in relation to

a capital asset—

a) being equity share or shares allotted to a shareholder of a recognised

stock exchange in India under a scheme for demutualisation or corporatisation

approved by the Securities and Exchange Board of India established under

section 3 of the Securities and Exchange Board of India Act, 1992, shall be the

cost of acquisition of his original membership of the exchange:

b) bring trading or clearing rights of the recognised stock exchange

acquired by a shareholder who has been allotted equity share or shares under

such scheme of demutualisation or corporatisation, shall be deemed to be nil.

91. 1) For ascertaining the fair market value of a capital asset for this

Chapter, the Assessing Officer may refer the valuation of the capital asset to a

Valuation Officer,—

a) if the value of the asset claimed by the assessee is as per the estimate

by a registered valuer, but the Assessing Officer is of the opinion that the

value so claimed is at variance with its fair market value;

b) in any other case, if the Assessing Officer is of the opinion that––

i) the fair market value of the asset exceeds the value claimed

by the assessee by more than the percentage of value of such asset

or amount, as may be prescribed; or

ii) having regard to the nature of the asset and other relevant

FLUFXPVWDQFHVLWLVQHFHVVDU\VRWRGR

2) The provisions of section 3) WR8) shall, with necessary modifications,

apply in relation to such reference made under sub-VHFWLRQ1

F.—Income from other sources

92. 1) Income of every kind which is not to be excluded from the total

income under this Act, shall be chargeable to income-tax under the head “Income

from other sources”, if it is not chargeable to income-tax under any of the heads

specified in section 13aWRd)

Reference to

Valuation

2IILFHU

Income from

RWKHUVRXUFHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 137

138

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

2) In particular, and without prejudice to the generality of the provisions of

sub-VHFWLRQ1), the following incomes shall be chargeable to income-tax under the

head “Income from other sources”:––

a) any dividend;

b) any winning from lotteries, crossword puzzles, races including

horse races, card games and other games of any sort or from gambling or

betting of any form or nature;

c) any sum received by the assessee from employees as contributions to

any provident fund, superannuation fund, any fund set up under the Employees’

State Insurance Act, 1948, or any other fund for the welfare of such employees,

if the income is not chargeable to income-tax under the head “Profits and gains

of business or profession”;

d) any sum received under a Keyman insurance policy, as defined in

Schedule II Note 1) including the bonus allocated on such policy, if such

income is not chargeable to income-tax under the head “Profits and gains of

business or profession” or under the head “Salaries”;

e) any income by way of interest on securities, if the income is not

chargeable to income-tax under the head “Profits and gains of business or

profession”;

f) any income from machinery, plant or furniture belonging to the

assessee and let on hire, if the income is not chargeable to income-tax under

the head “Profits and gains of business or profession”;

g) any income from letting on hire of machinery, plant or furniture,

belonging to the assessee and also buildings, where the letting of the

buildings is inseparable from the letting of such machinery, plant or furniture,

if the income is not chargeable to income-tax under the head “Profits and

gains of business or profession”;

h) any sum of money received as an advance or otherwise during

negotiations for the transfer of a capital asset, if––

i) such sum is forfeited; and

ii) the negotiations do not result in transfer of such capital asset;

i) any income by way of interest received on compensation or on

enhanced compensation referred to in section 2781);

j) any compensation or other payment, due to or received by any

person, by whatever name called, in connection with the termination of his

employment, or the modification of its terms and conditions;

k) any specified sum received by a unit holder from a business trust

during the tax year with respect to a unit held by him at any time during such

tax year, the computation of which shall be––

specified sum = A-B-&ZKLFKVKDOOEHdeemed to be zero, if the

sum of B and C is greater than A), where—

A = aggregate of the sum distributed by the business trust with

respect to such unit, during the tax year or during any earlier tax year

or years, to such unit holder, who holds such unit on the date of

distribution of sum or to any other unit holder who held such unit at

any time prior to the date of such distribution, which is—

a) not in the nature of income referred to in

Schedule 97DEOH6O1RRU; and

b) not chargeable to tax under section 2232);

138 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

B = amount at which such unit was issued by the business

trust; and

C = amount charged to tax under this clause in any earlier

tax year;

l) where any sum, including bonus allocated, is received, during a tax

year, under a life insurance policy, other than—

a) sums received under a unit linked insurance policy; or

b LQFRPHUHIHUUHGWRLQFODXVHd),

and such sum is not to be excluded from the total income of that tax year under

6FKHGXOH,,7DEOH6O1RWKHVXPH[FHHGLQJWKHDJJUHJDWHRIWKHSUHPLXP

paid, during the term of such life insurance policy, and not claimed as a deduction

under this Act, computed in such manner, as may be prescribed;

m) where any person receives in any tax year, from any person or

persons––

i) any sum of money without consideration, the total of which

exceeds ൟ50000, the whole of such sum;

ii) any immovable property—

A) without consideration, the stamp duty value of

which exceeds ൟ

50000, the stamp duty value of

such property;

B) for a consideration, the stamp duty value of such

property that exceeds such consideration, if this excess amount is

more than the higher of the following amounts:—

I) ൟ50000; or

II) 10% of the consideration;

iii) any property, other than immovable property,—

A) without consideration, the aggregate fair market value

of which exceeds ൟ50000, the whole of the aggregate fair market

value of such property;

B) for a consideration which is less than the aggregate fair

market value of the property by an amount exceeding ൟ50000,

the aggregate fair market value of such property as exceeds such

FRQVLGHUDWLRQ

3) The provisions of sub-VHFWLRQ2m) shall not apply to any sum of money

or any property received—

a) from any relative; or

b) on the occasion of marriage of the individual; or

c) under a will or by way of inheritance; or

d) in contemplation of death of the payer or donor; or

e) from any local authority as defined in Schedule III Note 6); or

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 139

140

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

f) from or by any registered non-profit organisation as defined in

section 355g), except when received by any person referred to in

section 355h); or

g) by way of a transaction not regarded as transfer under VHFWLRQ1)a),

cde), f), gij), k), lno), tuvRUw); or

h) from an individual by a trust created or established solely for the

benefit of relative of the individual; or

i) from such class of persons and subject to such conditions,

as may be SUHVFULEHG

4) For the purposes of sub-VHFWLRQ2mii),––

a) if the date of agreement fixing the amount of consideration for the

transfer of immovable property and the date of registration are not the same,

the stamp duty value on the date of agreement shall apply, provided the

consideration, in whole or in part, has been paid in specified banking or online

PRGHDVGHILQHGLQVHFWLRQ32) on or before the date of agreement for

transfer of such immovable property;

b) if the stamp duty value of immovable property is disputed by the

assessee on the grounds mentioned in section 2), the Assessing Officer

may refer the valuation of such property to a Valuation Officer, and the

provisions of sections 782) and 2881) 7DEOH6O1R8) shall, as far as may

be, apply to the stamp duty value of such property as they apply for valuation

RIFDSLWDODVVHWXQGHUWKRVHVHFWLRQV

5) For the purposes of this section,––

“assessable” shall have the meaning assigned to it in

section 105);

b) “card game and other game of any sort” includes any game show,

an entertainment programme on television or electronic mode, where people

compete to win prizes or any similar game;

c) “fair market value” of a property, other than an immovable property,

means the value determined by such method as may be prescribed;

“jewellery” shall have the meaning assigned to it in

section 22);

e) “lottery” includes winnings from prizes awarded by draw of lots, by

chance, or in any other manner under any scheme or arrangement by

whatever named called;

f) “property” means the following capital asset of the assessee:—

i) immovable property being land or building or both;

ii) shares and securities;

iii) jewellery;

iv) archaeological collections;

v) drawings;

140 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

vi) paintings;

vii) sculptures;

viii) any work of art;

ix) bullion; or

x) virtual digital asset;

g) “relative” means—

i) in case of an individual—

A) spouse;

B) brother or sister;

C) brother or sister of the spouse;

D) brother or sister of either of the parents;

E DQ\OLQHDODVFHQGDQWPDWHUQDODVZHOODVSDWHUQDO or

descendant;

F) any lineal DVFHQGDQWPDWHUQDODVZHOODVSDWHUQDORU

descendant of the spouse;

G VSRXVHRIWKHSHUVRQUHIHUUHGWRLQLWHPVBWRF); and

ii) for a Hindu undivided family, any member thereof;

h) “unit linked insurance policy” shall have the meaning assigned to it

in Schedule II Note 1)

93. 1) The income chargeable under the head “Income from other sources”

shall be computed after making the following deductions:—

a) for dividends [excluding those referred to in VHFWLRQ40f)@ or

interest on securities, any reasonable sum paid as commission or

remuneration to a banker or any other person for the purpose of realising such

dividend or interest on behalf of the assessee;

b) for income of the nature referred to in section 922c), so far as

may be, an amount as per section 291e);

c) for income of the nature referred to in section 922f) and

g), so far as may be, an amount as per section 281a), b), d), section 33,

and subject to the provisions of section 2);

d) for iQFRPH LQ WKH QDWXUH RI IDPLO\ SHQVLRQ D UHJXODU PRQWKO\

amount payable by the employer to a family member of an employee upon

the death of such employee),––

i) an amount equal to one-third of such income or ൟ25000,

whichever is less, where income-tax is computed under section 2021);

and

ii) an amount equal to one-third of such income or ൟ15000,

whichever is less, in any other case;

'HGXFWLRQV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 141

142

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Amounts not

GHGXFWLEOH

Profits

chargeable to

WD[

e DQ\ RWKHU H[SHQGLWXUH QRW EHLQJ LQ WKH QDWXUH RI FDSLWDO

expenditure) laid out or expended wholly and exclusively for making or

earning such income;

f) for income of the nature referred to in section 922i), an amount

equal to 50% of such income and no other deduction shall be allowed under

this section;

g) for income in the nature of commutation of pension received from

DIXQGDVVSHFLILHGLQ6FKHGXOH9,,7DEOH 6O1R 3), the entire amount;

h) for income in the nature of gratuity as referred in VHFWLRQ2g),

UHFHLYHGRQWKHGHDWKRIWKHHPSOR\HHWKHHQWLUHDPRXQW

2) In respect of––

a) dividend income of the nature referred to in section 240f), no

deduction shall be allowed;

b DQ\RWKHUGLYLGHQGLQFRPH>RWKHUWKDQLQFODXVHa@RULQFRPHIURP

units of a Mutual Fund specified under Schedule VII 7DEOH6O1RRU or

LQFRPHIURPXQLWVRIDVSHFLILHGFRPSDQ\DVUHIHUUHGWRLQVHFWLRQh) of the

8QLW7UXVWRI,QGLD7UDQVIHURI8QGHUWDNLQJDQG5HSHDO$FWRQO\

deduction allowed shall be interest expense which, for any tax year, shall be

OLPLWHGWRRIVXFKLQFRPHLQFOXGHGLQWKHWRWDOLQFRPHIRUWKDW\HDU

ZLWKRXWGHGXFWLRQXQGHUWKLVVHFWLRQ

94. 1) Irrespective of anything contained in section 93, the following

amounts shall not be deductible in computing the income of any assessee

chargeable under the head “Income from other sources”:—

a) any personal expenses of the assessee; or

b) any interest chargeable under this Act, payable outside India,

on which tax has not been paid or deducted under Chapter XIX-B; or

c) any payment chargeable under the head “Salaries”, if it is

payable outside India, unless tax has been paid or deducted under

Chapter XIX-%

2) The provisions of sections 29, 35bi), and 36 shall apply in computing

the income chargeable under the head “Income from other sources” as they apply

in computing the income chargeable under the head “Profits and gains of business

or profession”.

3) For an assessee, being a foreign company, the provisions of section 59

shall apply in computing the income chargeable under the head “Income from other

sources”, as they apply in computing the income chargeable under the head “Profits

and gains of business or profession”.

4) In computing the income from winnings from lotteries, crossword

puzzles, races including horse races, card games and other games of any sort, or

from gambling or betting of any form or nature, no deduction for any expenditure

or allowance related to such income shall be allowed under this $FW

5) Sub-VHFWLRQ4) shall not apply in computing the income of an assessee,

being the owner of horses maintained for running in horse races, from the activity

RIRZQLQJDQGPDLQWDLQLQJVXFKKRUVHV

6) For the purposes of this section, the expression “horse race” means a horse

race upon whicKZDJHULQJRUEHWWLQJPD\EHODZIXOO\PDGH

95. The provision of section 1)23) and 4) shall apply in computing

the income of an assessee under section 92, as they apply in computing the income

of an assessee under the head “Profits and gains of business or profession”.

142 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

CHAPTER V

INCOME OF OTHER PERSONS INCLUDED IN TOTAL INCOME OF ASSESSEE

96. All income arising to any person by virtue of a transfer,––

a) whether revocable or not, and whether effected before or after the

commencement of this Act; and

b) where there is no transfer of assets from which such income arises,

shall be chargeable to income-tax as the income of the transferor and shall be

LQFOXGHGLQKLVWRWDOLQFRPH

97. 1) All income arising to any person by virtue of a revocable transfer of

assets shall be chargeable to income-tax as income of the transferor and shall be

LQFOXGHGLQKLVWRWDOLQFRPH

2) The provisions of sub-VHFWLRQ1) shall not apply,—

a) where a transfer is by way of trust which is not revocable during the

lifetime of the beneficiary and in case of any other transfer, is not revocable

during the lifetime of the transferee; and

b) the transferor does not derive any direct or indirect benefit from

VXFKLQFRPHLQFDVHVUHIHUUHGWRLQFODXVHa

3) Irrespective of the provisions of sub-VHFWLRQ2), all income arising to any

person by virtue of such transfer shall be chargeable to income-tax as income of

the transferor as and when the power to revoke such transfer arises, and shall then

be included in his total income

98. For the purposes of sections 96 and 97, and this section,—

a) “transfer” includes any settlement, trust, covenant, agreement or

arrangement;

b) a transfer shall be deemed to be revocable, if––

i) it contains any provision for the direct or indirect re-transfer of

the whole or any part of the income or assets to the transferor; or

ii) it, in any way, gives the transferor a right to re-assume power

GLUHFWO\RULQGLUHFWO\RYHUWKHZKROHRUDQ\SDUWRIWKHLQFRPHRUDVVHWV

99. 1) The total income of any individual, for a tax year, shall include the

income arising directly or indirectly,––

a) to the spouse of such individual,—

i) by way of salary, commission, fees or any other form of

remuneration, whether in cash or kind, from a concern in which such

individual has a substantial interest but shall not include income solely

attributable to the application of technical or professional knowledge,

experience and technical or professional qualification of the spouse;

ii) from assets transferred directly or indirectly to him or her by such

individual otherwise than for adequate consideration or in connection with

an agreement to live apartVXEMHFWWRWKHSURYLVLRQVRIVHFWLRQa);

b) to the son’s wife of such individual from assets transferred directly

or indirectly on or after the 1st June, 1973, to her by such individual,

otherwise than for adequate consideration;

c) to the minor child of the such individual, but shall not include

income accruing or arising—

i) on account of work done by such child; or

Transfer of

income without

transfer of

DVVHWV

Chargeability of

income in

transfer of

DVVHWV

“Transfer” and

“revocable

transfer”

GHILQHG

Income of

individual to

include income

of spouse, minor

FKLOGHWF

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 143

144

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

ii) from activities where his skill, talent, specialised knowledge

or experience is applied; or

iii) where such minor child is suffering from disability of the

nature specified in section 154;

d) to any person or association of persons from assets transferred directly

or indirectly, otherwise than for adequate consideration to the person or

association of persons by such individual, to the extent to which the income from

such assets is for the immediate or deferred benefit of his or her spouse or his

son’s wife, as the case may be, other than the assets transferred before

1st June 1973, to the extent to which the income from such assets is for the

immediate or deferred benefit of his son’VZLIH

2) If the asset transferred under sub-VHFWLRQ1a)i) RUb) is invested by the

spouse or son’s wife, in any business or in the nature of capital contributed as a

partner in a firm, or, as the case may be, for being admitted to the benefits of

partnership in a firm, then, the income to be included in the hands of the individual

for the tax year shall be as follows:—

ൌ ൈቀ

஼

஽^ቁ

where,––

A = Income to be included in the hands of individual for the

tax year;

B = Income and interest or both, arising to the spouse or son’s

wife from the business or the firm, as applicable during the tax year;

C = Value of such assets invested, or contributed as capital by the

spouse or son’s wife as on the first day of the tax year;

D = Total investment or total capital contribution, as the case may

be, by the spouse or son’s wife as on the first day of the tax year

3) Where a property owned by an individual is converted into property

belonging to the Hindu undivided family of which he is a member, through––

a) the act of impressing such separate property with the character of

property belonging to the family; or

b) throwing it into the common stock of the family; or

c) transfer, directly or indirectly to the family,

without adequate consideration, then, irrespective of any other provision of this Act

or any other law in force for computing the total income of such individual,––

i) the individual shall be deemed to have transferred such property,

through the family, to the members of such family for being held jointly, and

the income derived from such property or part thereof, shall be deemed to be

income of the individual;

ii) where the property so converted has been the subject-matter of partition

ZKHWKHUSDUWLDORUWRWDODPRQJVWWKHPHPEHURIWKHIDPLO\, the income derived

from such property as is received by the spouse of the individual on partition,

shall be deemed to arise to the spouse from assets transferred indirectly to the

spouse and the provisions of sub-VHFWLRQ1a) shall apply,

and the income referred to in clauses i DQG ii) shall, on being included in

the total income of the individual, be excluded from the total income of the family or

WKHVSRXVH

4) The provisions of sub-VHFWLRQ3) shall not apply where the property of

the individual has been converted into property belonging to the family on or before

WKHVW'HFHPEHU

144 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

5) For the purposes of this section,––

a) for sub-VHFWLRQ1)a)i),––

i) the income referred to in that clause shall be included in the

hands of either of the spouse whose total income before such inclusion

is greater; and

ii) such income, once included in the total income of either

spouse, for a tax year, shall not be included in the income of the other

spouse for any succeeding tax year, unless the Assessing Officer is so

satisfied, after giving the other spouse an opportunity of being heard;

iii) an individual shall be deemed to have a substantial interest in

a concern,—

A) in case where the concern is DFRPSDQ\LILWVVKDUHVQRW

being shares entitled to a fixed rate of dividend whether with or

without a further right to participate in profits) carrying not less

than 20% of the voting power are, at any time during the tax year,

owned beneficially by the individual or jointly with one or more

of his relatives;

B) in any other case, if such person is entitled, or such

person and one or more of his relatives are jointly entitled, to

at least 20% of the profits of such concern at any time during the

tax year;

b) for sub-VHFWLRQ1c), income of minor child shall be included—

i) in the income of that parent whose total income before such

inclusion is greater, in case where the marriage of his parents subsists; or

ii) in the income of the parent who maintains such child during

the tax year, in case where marriage of his parents does not subsist,

and such income, once included in the total income of either of the parent, for a tax

year, shall not be included in the income of the other parent for any succeeding tax

year, unless the Assessing Officer is so satisfied, after giving the other parent an

opportunity of being heard;

c) for sub-VHFWLRQ3), “property” includes––

i) interest in property; or

ii) movable or immovable property; or

iii) proceeds of sale of such property and any money, property or

investment representing such proceeds; or

iv) where property is converted into any other property by any

method, such other property;

d) for this section, “income” LQFOXGHVORVV

100. Where, income of a person, other than the assessee, arising from any

asset, or income from membership of a firm, is included in the total income of the

DVVHVVHHXQGHUWKLV&KDSWHURUXQGHUVHFWLRQa), then, irrespective of anything

to the contrary contained in any other law in force,––

a) such person, in whose name such asset stands, or who is a member

of the firm, shall be liable to pay, that portion of the tax levied on the assessee

which is attributable to the income so included, upon service of notice of

demand by the Assessing Officer in this behalf;

b) where any such asset is held jointly by more than one person, they

shall be jointly and severally liable to pay such tax; and

c) the provisions of Chapter XIX-D shall DSSO\DFFRUGLQJO\

Liability of

person in respect

of income

included in

income of

DQRWKHUSHUVRQ

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 145

146

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Total

income

Unexplained

FUHGLWV

Unexplained

LQYHVWPHQW

CHAPTER VI

AGGREGATION OF INCOME

101 ,QFRPSXWLQJWKHWRWDOLQFRPHRIDQDVVHVVHHWKHUHVKDOOEHLQFOXGHGDOO

income on which no income-tax is payable under Chapter XVII-A4

102 1) Where any sum is found credited in the books of an assessee

maintained for any tax year, and––

a) the assessee offers no explanation about the nature and source of

such credit; or

b) the explanation offered about the nature and source of such credit

by assessee is not satisfactory in the opinion of the Assessing Officer,

then, the sum so credited shall be charged to income-tax as income of the assessee

RIWKDWWD[\HDU

2) For the purposes of sub-VHFWLRQ1), where the sum so credited consists of

loan or borrowing or any such amount, by whatever name called, the explanation

offered by such assessee shall be deemed to be not satisfactory, unless,—

a) the person in whose name such credit is recorded in the books of

such assessee also offers an explanation about the nature and source of such

sum so credited; and

b) such explanation in the opinion of the Assessing Officer has been

IRXQGWREHVDWLVIDFWRU\

3) For the purposes of sub-VHFWLRQ1), where WKHDVVHVVHHLVDFRPSDQ\QRW

being a company in which the public are substantially interested), and the sum so

credited consists of share application money, share capital, share premium or any

such amount, by whatever name called, the explanation offered by such assessee

company shall be deemed to be not satisfactory, unless—

a) the person, being a resident in whose name such credit is recorded

in the books of such company also offers an explanation about the nature and

source of such sum so credited; and

b) such explanation, in the opinion of the Assessing Officer has been

IRXQGWREHVDWLVIDFWRU\

4) Nothing contained in sub-VHFWLRQ2RU3) shall apply if the person, in

whose name the sum referred to in those sub-sections is recorded, is a venture

capital fund or a venture capital company as referred to in Schedule V

7DEOH6O1R 6)

103 Where in any tax year, any investment has been made by the assessee which

is not recorded in the books of account, if any, maintained by such assessee for any

source of income, or, the Assessing Officer finds that the amount of such investment

exceeds the amount recorded in such books of account and––

a) the assessee offers no explanation about the nature and source of

such investment, or such excess amount, as the case may be; or

b) the explanation offered about the nature and source of such investment

by the assessee, is not satisfactory in the opinion of the Assessing Officer,

then, the value of such investment, or such excess amount, as the case may be, shall

be deemed WREHWKHLQFRPHRIWKHDVVHVVHHRIWKDWWD[\HDU

146 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

104 1) Where in any tax year, any asset has been found to be owned

by or belonging to the assesse which is not recorded in the books of account,

if any, maintained by such assessee for any source of income, or the

Assessing Officer finds that the amount expended in acquiring such asset

exceeds the amount recorded in such books of account and––

a) the assessee offers no explanation about the nature and source of

acquisition of such asset, or such excess amount, as the case may be; or

b) the explanation offered about the nature and source of acquisition

of such asset by the assessee, is not satisfactory in the opinion of the

Assessing Officer,

then, the value of such asset, or such excess amount, as the case may be, shall be

deemed to be the income of the assessee of the tax year in which such asset has

EHHQIRXQGWREHRZQHGE\RUEHORQJLQJWRWKHDVVHVVHH

2) For the purposes of this section, “asset” includes money, bullion,

jewellery, virtual digital asset RURWKHUYDOXDEOHDUWLFOH

105 1) Where any expenditure has been incurred by the assessee in any tax

year, and––

a) the assessee offers no explanation about the source of such

expenditure or part thereof; or

b) the explanation offered about the source of such expenditure by the

assessee is not satisfactory in the opinion of the Assessing Officer,

then, the amount covered by such expenditure or part thereof, shall be deemed to

EHWKHLQFRPHRIWKHDVVHVVHHIRUWKDWWD[\HDU

2) Irrespective of any other provision of this Act, the amount deemed as

income in sub-VHFWLRQ1VKDOOQRWEHDOORZHGDVDGHGXFWLRQXQGHUWKLV$FW

106 1) Where any amount LQFOXGLQJLQWHUHVWWKHUHRIis borrowed or repaid

through a negotiable instrument or on a hundi, otherwise than an account payee

cheque, or through any mode as specified by the Board in this behalf, the amount

so borrowed or repaid LQFOXGLQJLQWHUHVWpaid on the borrowed amount) shall be

deemed to be the income of the person borrowing or repaying, as the case may be,

IRUWKHWD[\HDULQZKLFKWKHDPRXQWZDVERUURZHGRUUHSDLG

2) Where the amount borrowed under sub-VHFWLRQ1) has been deemed to be

the income of any person, such person shall not be liable to be assessed again in

respect of such amount under that sub-VHFWLRQRQUHSD\PHQWRIVXFKDPRXQW

107 Income referred to in sections 102, 103, 104, 105 and 106 shall be

charged to tax as per the provisions of section 195

CHAPTER VII

SET OFF, OR CARRY FORWARD AND SET OFF OF LOSSES

108 1) Unless provided otherwise in this Act, for any tax year, if net result

of computation IURPDQ\VRXUFHXQGHUDQ\KHDGRILQFRPHRWKHUWKDQ“Capital

gains”) is a loss, then assessee shall be entitled to set off such loss against his

income from any other VRXUFHXQGHUWKHVDPHKHDGIRUWKDWWD[\HDU

2) Where the net result of computation of income made for any tax year under

sections 72 to 90 in respect of—

a) any short-term capital asset is a loss, such loss shall be set off against

the income, computed in respect of any other capital asset for that year;

b) any long-term capital asset is a loss, such loss shall be set off against

the income computed in respect of any other long-WHUPFDSLWDODVVHWIRUWKDW\HDU

Unexplained

DVVHW

Unexplained

H[SHQGLWXUH

Amount

borrowed or

repaid through

negotiable

instrument,

hundi, HWF

Charge of tD[

Set off of losses

under same head

RILQFRPH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 147

148

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Set off of

losses under

any other head

RILQFRPH

Carry

forward and

set off of

loss from

house

SURSHUW\

Carry

forward and

set off of

loss from

Capital

JDLQV

Carry

forward and

set off of

business

ORVV

109 1) Subject to the provisions of this Chapter, for any tax year, if income

computed under any head of income (other than “Capital gains”) is a loss, such

loss shall be set off against income of the assessee under any other head, including

“Capital gains”, if any, assessable for that tax year, subject to the following

conditions:––

a) loss under the head “Profits and gains of business or profession”

shall not be set off against income assessable under the head “Salaries”; and

b) loss under the head “Income from house property” shall be set off

to the extent of ൟ200000 against income under any other head;

2) For any tax year, the loss under the head “Capital gains” shall not be set

RIIDJDLQVWLQFRPHXQGHUDQ\RWKHUKHDG

110 1) Where for any tax year, loss computed under the head “Income from

house property” cannot be wholly set off against the income under any other head

as per section 109, so much of the loss not so set off or the whole loss, as the case

may be, shall be carried forward to the following tax year and—

a) be set off only against the income from house property, if any,

assessable for that tax year; and

b) if the loss cannot be wholly so set off, the amount of loss not so set

off shall EHFDUULHGIRUZDUGWRWKHIROORZLQJWD[\HDUDQGVRRQ

2) No loss shall be carried forward under this section for more than eight tax

\HDUVLPPHGLDWHO\VXFFHHGLQJWKHWD[\HDUIRUZKLFKWKHORVVZDVILUVWFRPSXWHG

1111a) Where for any tax year, loss computed under the head “Capital

gains” cannot be wholly set off against the income under the head “Capital gains”

as per section 108, so much of the loss not so set off or the whole loss, as the case

may be, shall be carried forward to the following tax year and shall be set off in the

following manner—

i) if such loss relates to a short-term capital asset, it shall be set off

only against the income under the head “Capital gains”, if any, assessable for

that tax year in respect of any other capital asset;

ii) if such loss relates to a long-term capital asset, it shall be set off

only against the income under the head “Capital gains”, if any, assessable for

that tax year in respect of any other long-term capital asset; and

b) if the loss cannot be wholly so set off under FODXVHa), the amount of loss

QRWVRVHWRIIVKDOOEHFDUULHGIRUZDUGWRWKHIROORZLQJWD[\HDUDQGVRRQ

2) No loss shall be carried forward under this section for more than eight tax

years immediately succHHGLQJWKHWD[\HDUIRUZKLFKWKHORVVZDVILUVWFRPSXWHG

112 1) Where for any tax year, loss computed under the head “Profits and

gains of business or profession” (not being a loss sustained in a speculation

business) cannot be wholly set off against the income under any other head as per

section 109, so much of the loss not so set off or the whole loss, as the case may

be, shall be carried forward to the following tax year and—

i) be set off against the profits and gains, if any, of any business or

profession carried on by him for that tax year; and

ii) if the loss cannot be wholly so set off, the amount of loss not so set

RIIVKDOOEHFDUULHGIRUZDUGWRWKHIROORZLQJWD[\HDUDQGVRRQ

148 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

2) No loss shall be carried forward under this section for more than eight tax

\HDUVLPPHGLDWHO\VXFFHHGLQJWKHWD[\HDUIRUZKLFKWKHORVVZDVILUVWFRPSXWHG

3 :KHUHDQ\DOORZDQFHRISDUWWKHUHRIXQGHUVHFWLRQ11RU7) is to

be carried forward, HIIHFWVKDOOILUVWEHJLYHQWRWKHSURYLVLRQRIWKLVVHFWLRQ

113 1) Any loss, computed in respect of a speculation business carried on

by the assessee shall be set off only against profits and gains of another speculation

EXVLQHVV

2) Where for any tax year, loss computed in respect of a speculation business

cannot be wholly set off under sub-VHFWLRQ1), so much of the loss not so set off or

the whole loss, as the case may be, shall be carried forward to the following tax

year and—

i) be set off against the profits and gains, if any, of any speculation

business carried on by him for such tax year; and

ii) if the loss cannot be wholly so set off, the amount of loss not so set

RIIVKDOOEHFDUULHGIRUZDUGWRWKHIROORZLQJWD[\HDUDQGVRRQ

3) No loss shall be carried forward under this section for more than four tax

\HDUVLPPHGLDWHO\VXFFHHGLQJWKHWD[\HDUIRUZKLFKWKHORVVZDVILUVWFRPSXWHG

4 :KHUHDQ\DOORZDQFHRISDUWWKHUHRIXQGHUVHFWLRQ11RU7) related

to the speculation business is to be carried forward, effect shall first be given to the

SURYLVLRQRIWKLVVHFWLRQ

5 ,QWKLVVHFWLRQZKHUHDQ\SDUWRIWKHEXVLQHVVRIWKHDVVHVVHHEHLQJD

company) consists of purchase and sale of shares of other companies, then the

assessee shall be deemed to be carrying on a speculation business, to the extent to

ZKLFKLWVEXVLQHVVFRQVLVWVRISXUFKDVHDQGVDOHRIVXFKVKDUHV

6) The provisions of sub-VHFWLRQ5) shall not apply to an assessee, being a

company, if—

a) its gross total income consists mainly of income which is chargeable

under the heads “Income from house property”, “Capital gains” or “Income

from other sources”; or

b) its principal business is of trading in shares or banking or the

JUDQWLQJRIORDQVDQGDGYDQFHV

114 1) Any loss, computed in respect of a specified business, referred

to in section 46, shall be set off only against profits and gains of another

VSHFLILHGEXVLQHVV

2) Where for any tax year, loss computed in respect of a specified business

cannot be wholly set off under sub-VHFWLRQ1), so much of the loss not so set off or

the whole loss, as the case may be, shall be carried forward to the following tax

year and—

i) be set off against the profits and gains, if any, of any specified

business carried on by him for such tax year; and

ii) if the loss cannot be wholly so set off, the amount of loss not so set

off shall be carried forward to the following tax year and so on.

Set off and carry

forward of

losses computed

in respect of

speculation

EXVLQHVV

Set off and carry

forward of

losses computed

in respect of

specified

business

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 149

150

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Set off and

carry forward of

losses from

specified

activity.

Treatment of

accumulated

losses and

unabsorbed

depreciation in

amalgamation or

GHPHUJHUHWF

115 1) Any loss incurred by the assessee in specified activity in any tax

\HDUVKDOOEHVHWRIIRQO\DJDLQVWLQFRPHIURPVSHFLILHGDFWLYLW\

2) Where for any tax year, loss computed in respect of a specified activity

cannot be wholly set off under sub-section 1), so much of the loss not so set off

or the whole loss, as the case may be, shall be carried forward to the following tax

year and—

i) be set off against the income, if any, of the specified activity carried

on by him for such tax year; and

ii) if the loss cannot be wholly so set off, the amount of loss not so set

RIIVKDOOEHFDUULHGIRUZDUGWRWKHIROORZLQJWD[\HDUDQGVRRQ

3) No loss shall be carried forward under this section for more than four tax

years immediately succeeding the tax year for ZKLFKWKHORVVZDVILUVWFRPSXWHG

4) For the purposes of this section—

a) “horse race” means a horse race upon which wagering or betting

may be lawfully made;

b) “income by way of stake money” means the gross amount of prize

money received on a race horse or race horses by the owner thereof on

account of the horse or horses or any one or more of the horses winning a

particular position in horse race;

c) “loss incurred by the assessee in specified activity” means the

amount by which the income by way of stake money, if any, falls short of

the expenditure, not being capital expenditure, incurred wholly and

exclusively for maintaining race horses;

d) “race horses” means horses owned and maintained by assessee for

running in a horse race;

e) “specified activity” means the activity of owning and maintaining

race horses

116 1) Where there has been an amalgamation of,—

a) a company owning an industrial undertaking or a ship or a hotel

with another company; or

b D EDQNLQJ FRPSDQ\ UHIHUUHG WR LQ VHFWLRQ c) of the Banking

Regulation Act, 1949 with a specified bank; or

c) one or more public sector company with one or more other public

sector company; or

d) an erstwhile public sector company with one or more company or

companies, if the share purchase agreement entered into under strategic

disinvestment restricted immediate amalgamation of the said public sector

company and the amalgamation is carried out within five years from the end

of the tax year in which the restriction on amalgamation in the share

purchase agreement ends,

then, irrespective of anything contained in any other provision of this Act, the

accumulated loss and unabsorbed depreciation of the amalgamating company

shall be deemed to be the loss or, allowance for unabsorbed depreciation of the

amalgamated company for the tax year in which the amalgamation was effected,

and other provisions of this Act relating to set off and carry forward of loss and

DOORZDQFHIRUGHSUHFLDWLRQVKDOODSSO\DFFRUGLQJO\

150 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

2) The accumulated loss and the unabsorbed depreciation of the

amalgamating company, in case of an amalgamation referred to in

sub-VHFWLRQ1d), which is deemed to be the loss or, as the case may be, the

unabsorbed depreciation of the amalgamated company, shall not exceed the

accumulated loss and unabsorbed depreciation of the public sector company as on

the date on which it ceases to be a public sector company due to such

VWUDWHJLFGLVLQYHVWPHQW

3) For the purposes of sub-section 1)d),—

a) “control” shall have the same meaning as assigned to it in

VHFWLRQ27) of the Companies Act, 2013;

b) “erstwhile public sector company” means a company which was a

public sector company in earlier tax years and ceases to be so due to strategic

disinvestment by the Government;

c)i) “strategic disinvestment” means sale of shareholding by the

Central Government or State Government or a public sector company, in a

public sector company or in a company, which results in—

A) reduction of its shareholding to below 51%; and

B) transfer of control to the buyer;

ii IRUFODXVHci)A), the reduction of shareholding shall apply only

where shareholding of the Central Government or the State Government or

the public sector company exceeded 51% before the sale of shareholding;

iii WKH WUDQVIHU RI FRQWURO UHIHUUHG WR LQ FODXVH ci)B) may be

effected by the Central Government or the State Government or the public

VHFWRUFRPSDQ\RUDQ\WZRRUDOORIWKHP

4) Irrespective of anything contained in sub-VHFWLRQ 1), 2 DQG 3), the

accumulated loss shall not be set off or carried forward and the unabsorbed depreciation

shall not be allowed in the assessment of the amalgamated company unless,—

a) the amalgamating company—

i) has been engaged in the business, in which the accumulated

loss occurred or depreciation remains unabsorbed, for three or

more years;

ii) has held continuously as on the date of the amalgamation, at

least three-fourths of the book value of fixed assets held by it two years

preceding the date of amalgamation;

b) the amalgamated company—

i) holds continuously for a minimum of five years from the date

of amalgamation at least three-fourths of the book value of fixed assets

of the amalgamating company acquired in a scheme of amalgamation;

ii) continues the business of the amalgamating company for a

minimum of five years from the date of amalgamation;

iii) fulfils such other conditions as may be prescribed to ensure

the revival of the business of the amalgamating company or to ensure

WKDWWKHDPDOJDPDWLRQLVIRUJHQXLQHEXVLQHVVSXUSRVH

5) If any of the conditions laid down in sub-VHFWLRQ4) are not complied

with, the set off of loss or allowance of depreciation made in any tax year in the

hands of the amalgamated company shall be deemed to be the income of the

amalgamated company chargeable to tax for the year in which the

non-FRPSOLDQFHRFFXUV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 151

152

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

6) Irrespective of anything contained in any other provisions of this Act, in

the case of a demerger, the accumulated loss and the allowance for unabsorbed

depreciation of the demerged company shall,—

a) if directly relatable to the undertakings transferred to the resulting

company, be allowed to be carried forward and set off in the hands of the

resulting company;

b) if not directly relatable to the undertakings transferred to the resulting

company, be apportioned between the demerged company and the resulting

company in the same proportion in which the assets of the undertakings have

been retained by the demerged company and transferred to the resulting

company, and shall be allowed to be carried forward and set off in the hands of

the demerged compan\RUWKHUHVXOWLQJFRPSDQ\DVDSSOLFDEOH

7) The Central Government may, by notification, specify such conditions

WRHQVXUHWKDWWKHGHPHUJHULVIRUJHQXLQHEXVLQHVVSXUSRVHV

8) If there has been reorganisation of business where, a firm is succeeded

b\ D FRPSDQ\ IXOILOOLQJ WKH FRQGLWLRQV ODLG GRZQ LQ VHFWLRQ 1zd) or a

proprietary concern is succeeded by a company fulfilling the conditions laid down

LQ VHFWLRQ 1zf), then, irrespective of anything contained in any other

provision of this Act, the accumulated loss and the unabsorbed depreciation of the

predecessor firm or the proprietary concern, shall be deemed to be the loss or

allowance for depreciation of the successor company for the tax year in which

business reorganisation was effected and other provisions of this Act relating to

set off and carry forward of loss and allowance for depreciation shall apply

accordingly, subject to provisions of sub-VHFWLRQ

9 ,IDQ\RIWKHFRQGLWLRQVODLGGRZQLQVHFWLRQ1zdRUzf), as the case

may be, are not complied with, the set off of loss or allowance of depreciation

made in any tax year in the hands of the successor company, shall be deemed to

be the income of the company chargeable to tax in the year in which the

non-cRPSOLDQFHRFFXUV

10) If there has been reorganisation of business whereby a private company

or unlisted public company is succeeded by a limited liability partnership

IXOILOOLQJ WKH FRQGLWLRQV ODLG GRZQ LQ VHFWLRQ 1ze), then, irrespective of

anything contained in any other provision of this Act, the accumulated loss and

the unabsorbed depreciation of the predecessor company, shall be deemed to be

the loss or allowance for depreciation of the successor limited liability partnership

for the tax year in which business reorganisation was effected and other provisions

of this Act relating to set off and carry forward of loss and allowance for

depreciation shall apply accordingly, subject to provisions of sub-VHFWLRQ11)

11) If any of the conditions laiGGRZQLQVHFWLRQ1ze) are not complied

with, the set off of loss or allowance of depreciation made in any tax year in the

hands of the successor limited liability partnership, shall be deemed to be the

income of the limited liability partnership chargeable to tax in the year in which

the non-FRPSOLDQFHRFFXUV

12) For any amalgamation referred to in sub-VHFWLRQ1) or reorganisation

of business referred to in sub-VHFWLRQ 8 RU 10) effected on or after the

1st April, 2025, any loss forming part of the accumulated loss of the predecessor

entity, being—

i) the amalgamating company; or

ii) the firm or proprietary concern; or

iii) the private company or unlisted public company,

as the case may be, which is deemed to be the loss of the successor entity, being—

152 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

40 RI

a) the amalgamated company; or

b) the successor company; or

c) the successor limited liability partnership,

as the case may be, shall be carried forward for not more than eight tax years

immediately succeeding the tax year for which such loss was first computed for

WKHRULJLQDOSUHGHFHVVRUHQWLW\

13) For the purposes of this section,—

a) “accumulated loss” means so much of the loss of the predecessor

firm or the proprietary concern or the private company or unlisted public

company before conversion into limited liability partnership or the

amalgamating company or the demerged company, under the head “Profits

and gains of business or profession” (excluding loss in a speculation

business) which would have been eligible for carry forward and set off to

such predecessor entity under section 112, had the reorganisation of

business or conversion or amalgamation or demerger not occurred;

b) “industrial undertaking” means any undertaking which is

engaged in—

i) the manufacture or processing of goods; or

ii) the manufacture of computer software; or

iii) the business of generation or distribution of electricity or

any other form of power; or

iv) the business of providing telecommunication services,

whether basic or cellular, including radio paging, domestic satellite

service, network of trunking, broadband network and internet

services; or

v) mining; or

vi) the construction of ships, aircrafts or rail systems;

c) “original predecessor entity” means predecessor entity in respect

of the first amalgamation for sub-VHFWLRQ 1) or first reorganisation of

business for sub-VHFWLRQV8DQG10), as the case may be;

d) “specified bank” means the State Bank of India constituted under

the State Bank of India Act, 1955 or a corresponding new bank constituted

XQGHUVHFWLRQRIWKH%DQNLQJ&RPSDQLHV$FTXLVLWLRQDQG7UDQVIHURI

Undertakings) Act, 1970 or under section 3 of the Banking Companies

$FTXLVLWLRQDQG7UDQVIHURI8QGHUWDNLQJV$FW

e) “unabsorbed depreciation” means so much of the allowance for

depreciation of the predecessor firm or the proprietary concern or the private

company or unlisted public company before conversion into limited liability

partnership or the amalgamating company or the demerged company, which

remains to be allowed and which would have been allowed to such

predecessor entity under this Act, had the reorganisation of business or

cRQYHUVLRQRUDPDOJDPDWLRQRUGHPHUJHUQRWRFFXUUHG

117 1 ,UUHVSHFWLYH RI DQ\WKLQJ FRQWDLQHG LQ VHFWLRQ 6a WR c) or

section 116, where there has been an amalgamation of,—

a) one or more banking company with—

i) any other banking institution under a scheme sanctioned and

EURXJKWLQWRIRUFHE\WKH&HQWUDO*RYHUQPHQWXQGHUVHFWLRQ7) of

the Banking Regulation Act, 1949; or

Treatment of

accumulated

losses and

unabsorbed

depreciation in

scheme of

amalgamation in

certain cases

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 153

154

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

ii) any other banking institution or a company following a

strategic disinvestment, wherein the amalgamation occurs within five

years from the end of the tax year during which such disinvestment is

carried out; or

b) one or more corresponding new bank or banks with any other

corresponding new bank under a scheme brought into force by the Central

*RYHUQPHQWXQGHUVHFWLRQRIWKH%DQNLQJ&RPSDQLHV$FTXLVLWLRQDQG

Transfer of Undertakings) Act, 1970 or under section 9 of the Banking

&RPSDQLHV $FTXLVLWLRQ DQG 7UDQVIHU RI 8QGHUWDNLQJV $FW RU

both; or

c) one or more Government company or companies with any other

Government company under a scheme sanctioned and brought into force by

the Central Government under section 16 of the General Insurance Business

1DWLRQDOLVDWLRQ$FW

the accumulated loss and unabsorbed depreciation of such banking company or

companies or amalgamating corresponding new bank or banks or amalgamating

Government company or companies, shall be deemed to be the loss or, allowance

for depreciation of the banking institution or company or amalgamated

corresponding new bank or amalgamated Government company for the tax year

in which the scheme of amalgamation was brought into force and other provisions

of this Act relating to set off and carry forward of loss and allowance for

GHSUHFLDWLRQVKDOODSSO\DFFRUGLQJO\

2) Where any scheme of amalgamation as referred to in sub-VHFWLRQ1) is

brought into force on or after the 1st April, 2025, any loss forming part of the

accumulated loss of the predecessor entity, being—

i) the banking company or companies;

ii) the amalgamating corresponding new bank or banks; or

iii) the amalgamating Government company or companies,

as the case may be, which is deemed to be the loss of the successor entity, being—

a) the banking institution or company; or

b) the amalgamated corresponding new bank or banks; or

c) the amalgamated Government company or companies,

as the case may be, shall be carried forward in the hands of the successor entity

for not more than eight tax years immediately succeeding the tax year for which

VXFKORVVZDVILUVWFRPSXWHGIRURULJLQDOSUHGHFHVVRUHQWLW\

3) For the purposes of this section,—

a) “accumulated loss” means so much of the loss of the amalgamating

banking company or companies or amalgamating corresponding new bank

or banks or amalgamating Government company or companies under the

head “Profits and gains of business or profession” (excluding losses of a

speculation business) which such predecessor entity would have been

entitled to carry forward and set off under section 112 had the amalgamation

not occurred;

b) “banking company” shall have the same meaning as assigned to it

in sectioQc) of the Banking Regulation Act, 1949;

c) “banking institution” shall have the same meaning as assigned to it

LQVHFWLRQ15) of the Banking Regulation Act, 1949;

154 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

d) “corresponding new bank” shall have the same meaning as

DVVLJQHGWRLWLQVHFWLRQdRIWKH%DQNLQJ&RPSDQLHV$FTXLVLWLRQDQG

7UDQVIHU RI 8QGHUWDNLQJV $FW RU VHFWLRQ b) of the Banking

&RPSDQLHV$FTXLVLWLRQDQG7UDQVIHURI8QGHUWDNLQJV$FW

e) “general insurance business” shall have the same meaning as

DVVLJQHG WR LW LQ VHFWLRQ g) of the General Insurance Business

1DWLRQDOLVDWLRQ$FW

f) “Government company” means a Government company as defined

LQ VHFWLRQ 45) of the Companies Act, 2013, engaged in the general

insurance business and established under section 4 or 5 or 16 of the General

,QVXUDQFH%XVLQHVV1DWLRQDOLVDWLRQ$FW

g) “original predecessor entity” means predecessor entity in respect

of the first amalgamation;

h) “strategic disinvestment” shall have the meaning assigned to it in

VHFWLRQ3)c)i);

“unabsorbed

depreciation”

means

the

allowance

for

depreciation of the amalgamating banking company or companies or

amalgamating corresponding new bank or banks or amalgamating

Government company or companies which remains to be allowed and which

would have been allowed to such predecessor entity, had the amalgamation

QRWRFFXUUHG

118 1) The assessee, being a successor co-operative bank, shall, in a case

where the amalgamation has taken place during the previous year, be allowed to

set off the accumulated loss and the unabsorbed depreciation, if any, of the

predecessor co-operative bank as if the amalgamation had not taken place, and all

the other provisions of this Act relating to set off and carry forward of loss and

allowance for depreciation VKDOODSSO\DFFRUGLQJO\

2) In case of a co-operative bank where demerger takes place during the tax

year, and where the accumulated loss or unabsorbed depreciation of the demerged

co-operative bank––

a) is directly relatable to the undertaking transferred, the whole of

such accumulated loss or unabsorbed depreciation shall be allowed to be

carried forward and set off against the income of the resulting co-operative

bank; and

b) is not directly relatable to the undertaking transferred, then such

accumulated loss or unabsorbed depreciation shall first be apportioned

between the demerged co-operative bank and the resulting co-operative

bank in the same proportion in which assets of the undertaking are

distributed between the demerged co-operative bank and the resulting

co-operative bank, and be allowed to be carried forward and set off against

WKHLUUHVSHFWLYHLQFRPHV

3) The provisions of this section shall apply, if—

a) the predecessor co-operative bank—

i) has been engaged in the business of banking for three or more

years; and

ii) has held at least three-fourths of the book value of fixed

assets as on the date of the business reorganisation, continuously for

two years before the date of business reorganisation;

Carry forward

and set off of

losses and

unabsorbed

depreciation in

business

reorganisation

of co-operative

EDQNV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 155

156

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Carry forward

and set off of

losses not

permissible in

FHUWDLQFDVHV

b) the successor co-operative bank,—

i) holds at least three-fourths of the book value of fixed assets

of the predecessor co-operative bank acquired through business

reorganisation, continuously for a minimum five years immediately

succeeding the date of business reorganisation;

ii) continues the business of the predecessor co-operative bank

for a minimum five years from the date of business reorganisation; and

iii) fulfils such other conditions, as may be prescribed, to ensure

the revival of the business of the predecessor co-operative bank or to

ensure that the business reorganisation is for genuine business

SXUSRVH

4) The Central Government may, by notification, specify such other

conditions as it may consider necessary, other than the condition referred to in

sub-VHFWLRQ 3biii), for the purposes of ensuring that the business

UHRUJDQLVDWLRQLVIRUJHQXLQHEXVLQHVVSXUSRVHV

5) In a case where any of the conditions referred to in sub-VHFWLRQ3) or

notified under sub-section 4) are not complied with, the set off of accumulated

business loss or unabsorbed depreciation made in any tax year in the hands of the

successor co-operative bank shall be deemed to be the income of the successor

co-operative bank chargeable to tax for the year in which such conditions are not

FRPSOLHGZLWK

6) The period commencing from the beginning of the tax year and ending

on the date immediately preceding the date of business reorganisation, and the

period commencing from the date of such business reorganisation and ending with

the tax year, shall be deemed to be two different tax years for the purposes of

VHWRIIDQGFDUU\IRUZDUGRIORVVDQGDOORZDQFHIRUGHSUHFLDWLRQ

7) For the purposes of this section,––

a) “accumulated loss” means so much of the loss of amalgamating

co-operative bank or demerged co-operative bank as referred to in

section 112 in the hands of predecessor co-operative bank, which such

predecessor co-operative bank would have been entitled to carry forward

and set off under the said section, as if the business reorganisation had not

taken place;

b) “amalgamated co-operative bank”, “amalgamating co-operative

bank”, “amalgamation”, “business reorganisation”, “demerged co-operative

bank”,

“demerger”,

“predecessor

co-operative

bank”,

“successor

co-operative bank” and “resulting co-operative bank” shall have the

meanings respectively assigned to them in section 65;

c) “unabsorbed depreciation” means so much of the allowance for

depreciation in the hands of amalgamating co-operative bank or demerged

co-operative bank, which remains to be allowed and which would have been

DOORZHGWRVXFKEDQNVLIWKHEXVLQHVVUHRUJDQLVDWLRQKDGQRWWDNHQSODFH

119 1) In case of change in constitution of a firm during a tax year, nothing

in this Chapter shall entitle the firm to have carried forward and set off so much

of the loss proportionate to the share of a retired or deceased partner as exceeds

his share of profits, if any, in the firm in respect of the tax year

2) If any person carrying on any business or profession has been succeeded

in such capacity by another person, otherwise than by inheritance, nothing in this

Chapter shall entitle any person other than the person incurring the loss to have it

FDUULHGIRUZDUGDQGVHWRIIDJDLQVWKLVLQFRPH

156 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

3) Irrespective of anything contained in this Chapter, in case of a change in

VKDUHKROGLQJGXULQJWKHWD[\HDURIDFRPSDQ\QRWEHLQJDFRPSDQ\LQZKLFKWKH

public are substantially interested),—

a) no loss incurred in any year prior to the tax year shall be carried

forward and set off against the income of the tax year unless on the last day of

the tax year, the shares of the company carrying not less than 51% of the

voting power were beneficially held by the person who beneficially held

shares of the company carrying not less than 51% of the voting power on the

last day of the year or years in which the loss was incurred; and

b) regardless of the change in percentage of shareholding, where the

company is an eligible start up referred to in section 140, the loss incurred

in any year prior to the tax year shall be allowed to be carried forward and

set off against the income of the tax year, if—

i) all the shareholders of such company who held shares

carrying voting power on the last day of the year or years in which the

loss was incurred, continue to hold those shares on the last day of such

tax year; and

ii) such loss has been incurred during the period of ten years

beginning from the year in wKLFKVXFKFRPSDQ\LVLQFRUSRUDWHG

4) The provisions of sub-VHFWLRQ3) shall not apply––

a) where a change in the voting power and shareholding takes place

in the tax year referred to in that sub-section due to death of shareholder or

transfer of shares by way of gift to any relative of the shareholder; or

b) where change in shareholding of Indian company, being a

subsidiary of foreign company, takes place due to amalgamation or

demerger of the foreign company and 51% of the shareholders of

amalgamating or demerged foreign company are shareholders of

amalgamated or resulting foreign company; or

c) where change in shareholding takes place in a tax year consequent

to a resolution plan approved under the Insolvency and Bankruptcy

Code, 2016 and a reasonable opportunity of being heard was afforded to the

jurisdictional Principal Commissioner or Commissioner; or

d) to a company, its subsidiary and subsidiary of such subsidiary, if––

i) the Board of Directors of such company were suspended by the

Tribunal on an application moved by the Central Government under

section 241 of the Companies Act, 2013 and new directors were appointed

by the Central Government under section 242 of the said Act; and

ii) the change in shareholding of such company and its

subsidiary, and subsidiary of such subsidiary has taken place

consequent to a resolution plan approved by the Tribunal under

section 242 of the Companies Act, 2013 and a reasonable opportunity

of being heard was afforded to the jurisdictional Principal

Commissioner or Commissioner; or

e) to a company to the extent that a change in the shareholding has

taken place during the tax year on account of relocation referred to in

VHFWLRQ2)7DEOH6O1R&; or

f) to an erstwhile public sector company where ultimate holding

company of such company, immediately after the completion of strategic

disinvestment, continues to hold, directly or through its subsidiary or

VXEVLGLDULHVDWOHDVWRIWKHYRWLQJSRZHURIVXFKFRPSDQ\LQDJJUHJDWH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 157

158

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

No set off of

losses against

undisclosed

income

consequent to

search,

requisition and

VXUYH\

Submission of

UHWXUQIRUORVVHV

Deductions to

be made in

computing total

LQFRPH

5) Irrespective of anything contained in sub-VHFWLRQ4), if the conditions

specified in sub-VHFWLRQ f) is not complied with in any tax year after the

completion of strategic disinvestment, the provisions of sub-VHFWLRQ 3) shall

DSSO\IRUVXFKWD[\HDUDQGVXEVHTXHQWWD[\HDUV

6) For the purposes of this section,—

a) a company shall be a subsidiary of another company, if such other

company holds more than half in nominal value of the equity share capital

of the company;

b) the expression “erstwhile public sector company” shall have the

PHDQLQJDVVLJQHGWRLWLQVHFWLRQ3b);

c) “strategic disinvestment” shall have the meaning assigned to it in

VHFWLRQ3c)i);

d) “Tribunal” shall have the same meaning as assigned to it in

VHFWLRQ90RIWKH&RPSDQLHV$FW

120 1) Irrespective of anything contained in any other provision of this

Act, any loss, whether brought forward or otherwise or unabsorbed depreciation,

shall not be allowed to be set off against any undisclosed income which is included

in the total income of any tax year, consequent to a search conducted under section

247 or a requisition under section 248 or a survey conducted under section 253,

not being a survey unGHUVHFWLRQ4

2) For the purposes of this section, the expression “undisclosed income”

for any tax year shall have the meaning as referred to LQVHFWLRQ

121 ,UUHVSHFWLYHRIDQ\WKLQJFRQWDLQHGLQWKLV&KDSWHUQRORVVZKLFKKDV

not been GHWHUPLQHGLQSXUVXDQFHRIDUHWXUQILOHGXQGHUVHFWLRQ1), shall be

FDUULHGIRUZDUGDQGVHWRIIXQGHUVHFWLRQ1RU1) RU2RU2) or

CHAPTER VIII

DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME

A.—General

122 1) In computing the total income of an assessee, the deductions

specified in this Chapter shall be allowed from his gross total income, as per and

VXEMHFWWRWKHSURYLVLRQVRIWKLV&KDSWHU

2) The aggregate amount of the deductions under this Chapter shall not, in

any FDVHH[FHHGWKHJURVVWRWDOLQFRPHRIWKHDVVHVVHH

3) If the deduction under section 133 or 135 or 137 or 138 or 141 or 142 or 143

is admissible in computing the total income of an association of persons or a body

of individuals, no deduction under the same section shall be made in relation to

the share of income of a member of such association of persons or body of

individuals in FRPSXWLQJWKHWRWDOLQFRPHRIVXFKPHPEHU

4) Irrespective of anything to the contrary contained in any of the provisions

of Part C of this Chapter, where, in the case of an assessee, any amount of profits

and gains of an undertaking or unit or enterprise or eligible business is claimed

and allowed as a deduction under those provisions for any tax year,––

a) deduction in respect of, and to the extent of, such profits and gains

shall not be allowed under any other provision of this Act for such tax year; and

b) shall in no case exceed the profits and gains of such undertaking

or unit or enterprise or eligible business, as the case may be

158 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

5) Deduction under the provisions of Part C of this Chapter shall not be

allowed to an assessee, who fails to—

a) furnish a return of income on or before the due date specified under

VHFWLRQ1); or

b) make a claim of deduction in a UHWXUQIXUQLVKHGXQGHUVHFWLRQ1

6) For the purposes of any deduction under this Chapter, irrespective of

anything to the contrary contained in Part C of this Chapter, if any goods or

services held for the purposes of––

a) the undertaking, unit, enterprise or eligible business carried on by the

assessee are transferred to any other business carried on by the assessee; or

b) any other business carried on by the assessee are transferred to the

undertaking or unit or enterprise or eligible business of the assessee,

and the consideration, if any, for such transfer as recorded in the accounts of the

undertaking or unit or enterprise or eligible business does not correspond to the

market value of such goods or services as on the date of transfer, then the profits

and gains of such undertaking or unit or enterprise or eligible business carried on

by the assessee shall be computed as if the transfer, LQFODXVHaRUb), had been

made at the market value of such goods or servLFHVDVRQWKDWGDWH

7) For the purposes of sub-VHFWLRQ6), “market value”,—

a) in relation to any goods or services sold or supplied, means the

price that such goods or services would fetch if these were sold by the

undertaking or unit or enterprise or eligible business in the open market,

subject to statutory or regulatory restrictions, if any;

b) in relation to any goods or services acquired, means the price that

such goods or services would cost if these were acquired by the undertaking

or unit or enterprise or eligible business from the open market, subject to

statutory or regulatory restrictions, if any; and

c) in relation to any goods or services sold, supplied or acquired, means

the arm’s length price of such goods or services DVGHILQHGLQVHFWLRQa), if

it is a specified domestic transaction referred to in VHFWLRQ

8) Where a deduction under Part C of this Chapter, is claimed and allowed

in respect of profits of a specified business as referUHGWRLQVHFWLRQ11d) for

any tax year, no deduction shall be allowed for such specified business under

VHFWLRQIRUWKHVDPHRUDQ\RWKHUWD[\HDU

9) Where any deduction is required to be made or allowed under Part C of

this Chapter, in respect of any income of the nature specified in that section and

included in the gross total income of the assessee, then, irrespective of anything

contained in that section, for the purpose of computing the deduction under that

section, the amount of income of that nature as computed under the provisions of

WKLV$FWEHIRUHPDNLQJDQ\GHGXFWLRQXQGHUWKLV&KDSWHUVKDOODORQHEHGHHPHG

to be the amount of income of that nature which is derived or received by the

assessee and which is included in his gross total iQFRPH

10) For the purposes of this Chapter, the expression “gross total income”

means the total income computed as per the provisions of this Act, before making

GHGXFWLRQXQGHUWKLV&KDSWHU

B.—Deductions in respect of certain payments

123 An individual or a Hindu undivided family, shall be allowed a

deduction of the whole of the amount paid or deposited in the tax year, being the

aggregate of the sums enumerated in Schedule XV, DVGRHVQRWH[FHHGൟ,

while computing the total income for that year, subject to the conditions specified

LQWKDW6FKHGXOH

Deduction for life

insurance premia,

deferred annuity,

contributions to

provident fund,

HWF

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 159

160

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Deduction in

respect of

employer and

assessee

contribution to

pension scheme

of Central

*RYHUQPHQW

124 1) Where in the case of an assessee, being an individual employed by

any employer, if the employer makes any contribution in his account under a

pension scheme notified by the Central Government, the assessee shall be allowed

a deduction in the computation of his total income, of the whole of the amount

contributed by such employer as does not exceed—

a) 14%, where such contribution is made by the employer being the

Central Government or the State Government; and

b) 10%, where such contribution is made by an employer other than

DQHPSOR\HUUHIHUUHGWRLQFODXVHa),

RIKLVVDODU\LQWKHWD[\HDU

2) Where the total income of the assessee is chargeable to tax under

VHFWLRQ1), the provisions of sub-VHFWLRQ1) shall have effect as if for “10%”

UHIHUUHGWRLQFODXVHb) of that sub-section, “14%” had been substituted.

3) An assessee referred to in sub-VHFWLRQ1), or any other assessee, being

an individual, shall be allowed a deduction QRWH[FHHGLQJൟin computation

of his total income of the whole of the amount paid or deposited in the tax year by

such individual in his account under a pension scheme notified or as may be

notified by the Central Government

4) The deduction under sub-VHFWLRQ3) shall also be allowed where any

payment or deposit is made to the account of a minor under the said pension

scheme, by the assessee, being the parent or guardian of such minor, subject to

the condition that the aggregate amount of deduction under sub-VHFWLRQ3) and

this sub-section shall not exceed ൟ50000

5) No deduction under sub-VHFWLRQ3) DQG4) shall be allowed in respect of the

amount on which a deduction has been claimed and allowed under section 123

6) Any amount standing to the credit of the assessee or a minor, in his

account or the account of a minor, as the case may be, referred to in

sub-VHFWLRQV13DQG4) DQGSDUDJUDSKy) of Schedule XV, in respect of

which a deduction has been allowed together with the amount accrued thereon,

received by the assessee or his nominee, in whole or in part, in any tax year,—

a) on account of closure or his opting out of the pension scheme

referred to in sub-VHFWLRQV1DQG3); or

b) as pension received from the annuity plan purchased or taken on

such closure or opting out,

WKHZKROHRIWKHDPRXQWUHIHUUHGWRLQFODXVHaRUb) shall be deemed to be the

income of the individual or his nominee, in the tax year in which such amount is

received, and shall DFFRUGLQJO\EHFKDUJHGWRWD[DVLQFRPHRIWKDWWD[\HDU

7) The amount received by the nominee, on the death of the assessee, under

the circumstances referred to in sub-VHFWLRQ6a), shall not be deemed to be the

LQFRPHRIWKHQRPLQHH

8) The amount received by a person, being the parent or guardian or nominee

of a minor on account of closure of the pension scheme, due to the death of the minor,

referred to in sub-VHFWLRQ4VKDOOQRWEHGHHPHGWREHWKHLQFRPHRIVXFKSHUVRQ

9) For the purposes of this section, the assessee shall not be deemed to have

received any amount in the tax year, if such amount is used for purchasing an

DQQXLW\SODQLQWKHVDPHWD[\HDU

10) Where any amount paid or deposited by the assessee has been allowed

as a deduction under sub-VHFWLRQ3), no deduction with reference to such amount

VKDOOEHDOORZHGXQGHUVHFWLRQIRUWKDWWD[\HDU

11) Any amount standing to the credit of the assessee, being a subscriber to

Unified Pension Scheme, in his account referred to in sub-VHFWLRQV1DQG3), and

SDUDJUDSKy) of Schedule XV, in respect of which a deduction has been allowed

together with the amount accrued thereon, received by the assessee or his nominee,

in whole or in part, in any tax year on account of his superannuation or voluntary

160 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

UHWLUHPHQWRUUHWLUHPHQWXQGHU)XQGDPHQWDO5XOHVMZKLFKLVQRWWUHDWHGDV

SHQDOW\XQGHUWKH&HQWUDO&LYLO6HUYLFHV&ODVVLILFDWLRQ&RQWURODQG$SSHDO5XOHV

1965), the whole of the amount shall be deemed to be the income of the assessee or

his nominee, as the case may be, in the tax year in which such amount is received,

DQGVKDOODFFRUGLQJO\EHFKDUJHGWRWD[DVLQFRPHRIWKDWWD[\HDU

12) For the purposes of sub-VHFWLRQ11), the assessee shall be deemed not

to have received any amount in the tax year if such amount is transferred to pool

corpus from individual corpus on account of his superannuation or voluntary

UHWLUHPHQWRUUHWLUHPHQWXQGHU)XQGDPHQWDO5XOHVMZKLFKLVQRWWUHDWHGDV

SHQDOW\ XQGHU WKH &HQWUDO &LYLO 6HUYLFHV &ODVVLILFDWLRn, Control and Appeal)

5XOHVDVPD\EHDSSOLFDEOH

13) For the purposes of this section,––

a) “pool corpus” and “individual corpus” shall have the same

meaning as in NotificatiRQ)NR FX-1/3/2024-PR of the Department of

Financial Services, dated the 24tK-DQXDU\

b)“salary” includes dearness allowance, if the terms of employment

so provide, but excludes all other allowances and SHUTXLVLWHV

1251) An assessee, being an individual who has enrolled in the Agnipath

Scheme and subscribes to the Agniveer Corpus Fund on or after the 1st November,

2022, shall be allowed a deduction in the computation of his total income, of the whole

of the amount paid or deposited iQKLVDFFRXQWLQWKHVDLG)XQGGXULQJWKHWD[\HDU

2) Where the Central Government makes any contribution to the account

of an assessee in the Fund referred to in sub-VHFWLRQ1), the assessee shall be

allowed a deduction in the computation of his total income of the whole of the

DPRXQWVRFRQWULEXWHG

3) For the purposes of this section,—

a) “Agnipath Scheme” means the scheme for enrolment in the Indian

Armed Forces introduced vide OHWWHU1R'3D\6HUYLFHVGDWHGWKH

29th December, 2022, of the Government of India in the Ministry of Defence;

b) “Agniveer Corpus Fund” means a fund in which consolidated

contributions of all the Agniveers and matching contributions of the Central

*RYHUQPHQWDORQJZLWKLQWHUHVWRQERWKWKHVHFRQWULEXWLRQVDUHKHOG

126 1) An assessee, being an individual or a Hindu undivided family, shall

be allowed a deduction of a sum as specified in sub-VHFWLRQV2) to 8), payment

of which is made by any mode as specified in sub-VHFWLRQ9), out of his income

FKDUJHDEOHWRWD[LQWKHWD[\HDU

2) In the case of an assessee, being an individual, the sum referred to in

sub-VHFWLRQ1), shall be the aggregate of the whole of the amount paid—

a WRHIIHFWRUNHHSLQIRUFHDQLQVXUDQFHRQWKHKHDOWKKHUHLQUHIHUUHGWR

as health insurance) of the assessee or his family, or any contributions made to

the Central Government Health Scheme or such other scheme, as may be notified

by the Central Government in this behalf, or any payment made for preventive

health check-up of the assessee or his family, up to ൟ25000 in aggregate;

b) to effect or to keep in force the health insurance, or any payment

made for preventive health check-up, for the parent or parents of the

assessee, up to ൟ25000 in aggregate;

c) on account of medical expenditure incurred on the health of the

assessee or any member of his family, up to ൟ50000 in aggregate; and

d) on account of medical expenditure incurred on the health of any

parent of the assessee, up to ൟ50000 LQDJJUHJDWH

3) The deduction in respect of amounts referred to in sub-VHFWLRQ2a) or

2b), which are paid on account of preventive health check-up, shall be allowed

up to ൟ5000 LQDJJUHJDWH

Deduction in

respect of

contribution to

Agnipath

6FKHPH

Deduction in

respect of health

insurance

SUHPLD

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 161

162

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Deduction in

respect of

maintenance

including

medical

treatment of a

dependant who

is a person with

disability

4) The amount of sum referred to in sub-VHFWLRQ 2) shall not exceed

ൟ50000 in aggregate of the sum specified under sub-section 2a) and c) or

aggregate of the sum specified under sub-section 2b) and d

5) In the case of an assessee, being a Hindu undivided family, the sum referred

to in sub-VHFWLRQ1), shall be the aggregate of the whole of the amount paid––

a) to effect or keep in force an insurance on the health of any member

of such Hindu undivided family, up to ൟ25000 in the aggregate; and

b) on account of medical expenditure incurred on the health of any

member of such Hindu undivided family, up to ൟ50000 LQWKHDJJUHJDWH

6) The amount of sum under sub-VHFWLRQ5) shall not exceed ൟ50000 in the

aggregate of the sum specified under sub-section 5)a) and b)

7) For the purposes of this section, where the amount is paid on account of

medical expenditure incurred on the health of a senior citizen under

sub-VHFWLRQ2cRUdRU5b), deduction shall be allowed, if no amount has

been SDLGWRHIIHFWRUWRNHHSLQIRUFHWKHKHDOWKLQVXUDQFHRIVXFKSHUVRQ

8) Where the sum specified in sub-section 2)aRUb) or 5)a) is paid to effect

or keep in force the health insurance of any person specified therein, and—

a) such person is a senior citizen, the amount of sum as provided in

such clauses, shall be substituted with ൟ50000 for ൟ25000; and

b) such sum is paid in lump sum in the tax year for more than a year,

a deduction shall be allowed for each of the relevant tax year equal to the

DSSURSULDWHIUDFWLRQRIVXFKDPRXQW

9) For the purposes of deduction under sub-VHFWLRQ1), the payment shall

be made by any mode,—

a) including cash, in respect of any sum paid on account of preventive

health check-up; or

b) oWKHUWKDQFDVKLQDOORWKHUFDVHVQRWIDOOLQJXQGHUFODXVHa

10) For the purposes of this section,—

a) “appropriate fraction” means the fraction where the numerator is

one, and the denominator is the total number of relevant tax years;

b) “family” means the spouse and dependant children of the

assessee;

c) “relevant tax year” means the tax year beginning with the tax year

in which such lump sum amount is paid and the subsequent tax year or years

during which the health insurancHUHPDLQVLQIRUFH

11) The health insurance referred to in this section shall be as per the

scheme made in this behalf by—

a) the General Insurance Corporation of India formed under

VHFWLRQRIWKH*HQHUDO,QVXUDQFH%XVLQHVV1DWLRQDOLVDWLRQ$ct, 1972 and

approved by the Central Government in this behalf; or

b) any other insurer and approved by the Insurance Regulatory and

'HYHORSPHQW $XWKRULW\ HVWDEOLVKHG XQGHU VHFWLRQ 1) of the Insurance

5HJXODWRU\DQG'HYHORSPHQW$XWKRULW\$FW

127 1) An assessee being an individual or a Hindu undivided family, who

is a resident in India, shall be allowed a deduction up to ൟ75000 from his gross

total income of a tax year, subject to the provisions of this section, if during that

year he has––

a LQFXUUHGH[SHQGLWXUHIRUWKHPHGLFDOWUHDWPHQWLQFOXGLQJQXUVLQJ

training and rehabilitation of a dependant, being a person with disability; or

162 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) paid or deposited any amount under a scheme framed by the Life

Insurance Corporation or any other insurer or the Administrator, or the

specified company, for the maintenance of a dependant, being a person with

disability, subject to the conditions specified in sub-VHFWLRQ2) and approved

by the Board in this behDOI

2) The deduction under sub-VHFWLRQ 1b) shall be allowed only if the

following conditions are fulfilled:––

a) the scheme referred to in sub-VHFWLRQ1b) provides for payment

of an annuity or lump sum amount for the benefit of a dependant, being a

person with disability––

i) on the death of the individual or the member of the Hindu

undivided family, in whose name the scheme was subscribed; or

ii) on attaining the age of sixty years or more by such individual

or the member of the Hindu undivided family, and the payment or

deposit to such scheme has been discontinued;

b) the assessee nominates the dependant, being a person with

disability or any other person or a trust to receive the payments on behalf of

DQGIRUWKHEHQHILWRIVXFKGHSHQGDQW

3) If the dependant as referred to in sub-VHFWLRQ1) is a person with severe

disability, the amount of deduction as referred to in sub-VHFWLRQ 1) shall be

substituted with “ൟ125000” for “ൟ75000”

4) In the event of death of the dependant, being a person with disability,

before the individual or the member of the Hindu undivided family mentioned in

sub-VHFWLRQ2), the amount paid or deposited under sub-VHFWLRQ1b) shall be

deemed to be the income of the assessee of the tax year in which it is received and

VKDOODFFRUGLQJO\EHFKDUJHDEOHWRWD[

5) The provisions of sub-VHFWLRQ4) shall not apply to the amount received

by the dependant, being a person with disability, before his death, as an annuity

or lump sum by application of the condition referred to in sub-VHFWLRQ2aii

6) The assessee claiming deduction under this section, shall furnish a copy

of the medical certificate issued by the medical authority in such form and manner

as may be prescribed, along with the return of income under section 263 for the

WD[\HDULQZKLFKWKHGHGXFWLRQLVFODLPHG

7) If the certificate referred to in sub-VHFWLRQ6), specifies that the condition

of disability requires reassessment of its extent after a period stipulated in it, the

deduction under this section shall not be allowed for any tax year succeeding the

tax year in which the said certificate expires, unless a new certificate is obtained

from the medical authority in such form and manner as may be prescribed, and a

FRS\WKHUHRILVVXEPLWWHGDORQJZLWKWKHUHWXUQRILQFRPHXQGHUVHFWLRQ

8) The dependant mentioned in this section shall not include a person who

has claimed deduction under section 154 in computing his total income for the

tax yeaU

9) For the purposes of this section,—

a) “Administrator” PHDQVWKH$GPLQLVWUDWRUDVUHIHUUHGWRLQVHFWLRQa)

RIWKH8QLW7UXVWRI,QGLD7UDQVIHURI8QGHUWDNLQJDQG5HSHDO$FW

b) “dependant” means—

i) in the case of an individual, the spouse, children, parents,

brothers and sisters of the individual or any of them;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 163

164

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Deduction in

respect of

medical

WUHDWPHQWHWF

ii) in the case of a Hindu undivided family, a member of the

Hindu undivided family,

dependant wholly or mainly on such individual or Hindu undivided family

for his support and maintenance;

c) “disability” shall have the same meaning as assigned to it in

VHFWLRQiRIWKH3HUVRQVZLWK'LVDELOLWLHV(TXDO2SSRUWXQLWLHV3URWHFWLRQ

of Rights and Full Participation) Act, 1995 and includes “autism”, “cerebral

palsy” and “multiple disability” respectively referred to in section 2(ac)

DQGh) of the National Trust for Welfare of Persons with Autism, Cerebral

Palsy, Mental Retardation and Multiple Disabilities Act, 1999;

“Life Insurance Corporation” means the Life Insurance

Corporation of India established under the Life Insurance Corporation

Act, 1956;

e) “medical authority” means the medical authority as referred to in

VHFWLRQ p RI WKH 3HUVRQV ZLWK 'LVDELOLWLHV (TXDO 2SSRUWXQLWLHV

Protection of Rights and Full Participation) Act, 1995 or such other medical

authority as may, by notification, be specified by the Central Government

for certifying “autism”, “cerebral palsy”, “multiple disabilities”, “person

with disability” and “severe disability” respectively referred to in

VHFWLRQachjDQGo) of the National Trust for Welfare of Persons

with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities

Act, 1999;

f) “person with disability” means a person as referred to in

VHFWLRQtRIWKH3HUVRQVZLWK'LVDELOLWLHV(TXDO2SSRUWXQLWLHV3URWHFWLon

RI5LJKWVDQG)XOO3DUWLFLSDWLRQ$FWRUVHFWLRQj) of the National

Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental

Retardation and Multiple Disabilities Act, 1999;

g) “person with severe disability” means—

i) a person with 80% or more of one or more disabilities, as

UHIHUUHGWRLQVHFWLRQ4RIWKH3HUVRQVZLWK'LVDELOLWLHV(TXDO

Opportunities, Protection of Rights and Full Participation)

Act, 1995; or

ii) a person with severe disability referred to iQVHFWLRQo) of

the National Trust for Welfare of Persons with Autism, Cerebral Palsy,

Mental Retardation and Multiple Disabilities Act, 1999;

h) “specified company” means a company as referred to VHFWLRQh)

RIWKH8QLW7UXVWRI,QGLD7UDQVIHURI8QGHUWDNLQJDQG5HSHDO$FW

128 1) An assessee who is resident in India, shall be allowed a deduction of

the amount actually paid during the tax year or a sum of ൟ40000, whichever is less,

from income chargeable to tax of that tax year, for the medical treatment of such

disease or ailment as may be prescribed—

a) for himself or a dependant, in case the assessee is an individual; or

b) for any member of a Hindu undivided family, in case the assessee

LVD+LQGXXQGLYLGHGIDPLO\

2) A deduction shall be allowed under this section only if the assessee

obtains the prescription for the medical treatment from a neurologist, oncologist,

urologist, haematologist, immunologist, or any other specialist, as may be

SUHVFULEHG

164 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

3) The deduction under this section shall be reduced by any amount received

under an insurance from an insurer, or reimbursed by an employer, for the medical

treatment of the person as referred to in sub-section 1)aRUb

4) If the amount actually paid is in respect of the assessee or his dependant

or any member of a Hindu undivided family of the assessee and who is senior

citizen, the amount of deduction as referred to in sub-VHFWLRQ 1) shall be

substituted with “ൟ100000” for “ൟ40000”

5) For the purposes of this section,––

a) “dependant” shall have the meaning as assigned to it in

section 1279);

b) “insurer” shall have the meaning assigned to it in section 2(9) of

WKH,QVXUDQFH$FW

129 1) An assessee, being an individual, shall be allowed a deduction of

amount paid as interest during a tax year, subject to the provisions of this section,

on a loan taken by him from any financial institution or any approved charitable

institution, if the––

a) loan taken is for the purpose of pursuing higher education of

himself or his relative; and

b SD\PHQWLVPDGHRXWRIKLVLQFRPHFKDUJHDEOHWRWD[

2) The deduction referred to in sub-VHFWLRQ 1) shall be allowed in

computing the total income in respect of the initial tax year and seven tax years

immediately succeeding the initial tax year, or until the interest referred to in

sub-VHFWLRQ1) LVIXOO\SDLGE\WKHDVVHVVHHZKLFKHYHULVHDUOLHU

3) For the purposes of this section,—

a) “approved charitable institution” means a registered non-profit

organisation where it was approved earlier under the provisions of

VHFWLRQ23C) of the Income-tax Act, 1961, or an institution referred to in

VHFWLRQ*2a) of the said Act;

b) “financial institution” means a banking company to which the

%DQNLQJ 5HJXODWLRQ $FW DSSOLHV LQFOXGLQJ DQ\ EDQN RU EDQNLQJ

institution referred to in section 51 of that Act) or any other financial

institution which the Central Government may, by notification, specify;

c) “higher education” means any course of study pursued after

passing the Senior Secondary Examination or its equivalent from a school,

board, or University recognised by the Central Government or State

Government, local authority, or by any authority authorised by the Central

Government or State Government or local authority to do so;

d) “initial tax year” means the tax year in which the assessee starts

paying the interest on the loan;

e) “relative”, in relation to an individual, means the spouse and

children of that individual, or the student for whom the individual is the

OHJDOJXDUGLDQ

130 1) An assessee, being an individual, shall be allowed a deduction of

interest payable on loan taken by him from any financial institution for the

purpose of acquisition of a residential house property as per the provisions of

WKLVVHFWLRQ

2) The deduction under sub-VHFWLRQ1) shall not exceed ൟ50000 and shall

be allowed in computing the total income of the individual for the tax year

EHJLQQLQJRQWKHVW$SULODQGVXEVHTXHQWWD[\HDUV

Deduction in

respect of

interest on loan

taken for higher

HGXFDWLRQ

Deduction in

respect of

interest on loan

taken for

residential house

SURSHUW\

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 165

166

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Deduction in

respect of

interest on loan

taken for certain

KRXVHSURSHUW\

Deduction in

respect of

purchase of

HOHFWULFYHKLFOH

3) The deduction under sub-VHFWLRQ1) shall be subject to the following

conditions:—

a) the loan has been sanctioned by the financial institution

during the period beginning on the 1st April, 2016 and ending on the

31st March, 2017;

b) the amount of loan sanctioned for acquisition of the residential

house property does not exceed thirty-five lakh rupees;

c) the value of residential house property does not exceed fifty lakh

rupees; and

d) the assessee does not own any residential house property on the

GDWHRIVDQFWLRQRIORDQ

4) Where a deduction under this section is allowed for any interest referred

to in sub-VHFWLRQ1), deduction shall not be allowed in respect of such interest

XQGHUDQ\RWKHUSURYLVLRQRIWKLV$FWIRUWKHVDPHRUDQ\RWKHUWD[\HDU

5) For the purposes of this section,—

a) “financial institution” means a banking company to which the

Banking Regulation Act, 1949 applies, or any bank or banking institution

referred to in section 51 of that Act or a housing finance company;

b) “housing finance company” means a public company formed or

registered in India with the main object of carrying on the business of

providing long-term finance for construction or purchase of houses in India

IRUUHVLGHQWLDOSXUSRVHV

131 1) An assessee, being an individual not eligible to claim deduction

under section 130, shall be allowed a deduction of interest payable on loan taken

by him from any financial institution for the purpose of acquisition of a residential

house property, subject to a maximum limit of ൟ150000 in a tax year and on

fulfilment of conditions specified in sub-VHFWLRQ2), for the tax year beginning on

WKHVW$SULODQGVXEVHTXHQWWD[\HDUV

2) The conditions referred in sub-VHFWLRQ1) shall be the following:—

a) the loan has been sanctioned by the financial institution during

the period beginning on the 1st April, 2019 and ending on the

31st March, 2022;

b) the stamp duty value of residential house property does not exceed

forty-five lakh rupees; and

c) the assessee does not own any residential house property on the

GDWHRIVDQFWLRQRIORDQ

3) Where a deduction under this section is allowed for any interest referred

to in sub-VHFWLRQ1), deduction shall not be allowed in respect of such interest

XQGHUDQ\RWKHUSURYLVLRQRIWKLV$FWIRUWKHVDPHRUDQ\RWKHUWD[\HDU

4) For the purposes of this section, the expression “financial institution”

shall have the meaning assigned to it in section 1305a)

132 1) An assessee, being an individual, shall be allowed a deduction of

interest payable on loan taken by him from any financial institution for the

purpose of purchase of an electric vehicle, as per WKHSURYLVLRQVRIWKLVVHFWLRQ

2) The deduction under sub-VHFWLRQ1) shall be subject to the condition that

the loan has been sanctioned by the financial institution during the period

beginning on the 1st April, 2019 and ending on thHVW0DUFK

166 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

3) The deduction under sub-VHFWLRQ1) shall not exceed ൟ150000 and shall

be allowed in computing the total income of the individual for the tax year

beginning on the 1st April, 2019 and subsequent WD[\HDUV

4) Where a deduction under this section is allowed for any interest referred

to in sub-VHFWLRQ1), deduction shall not be allowed in respect of such interest

XQGHUDQ\RWKHUSURYLVLRQRIWKLV$FWIRUWKHVDPHRUDQ\RWKHUWD[\HDU

5) For the purposes of this section,—

a) “electric vehicle” means a vehicle powered exclusively by an

electric motor, whose traction energy is supplied exclusively by traction

battery installed in the vehicle and has such electric regenerative braking

system, which during braking provides for the conversion of vehicle kinetic

energy into electrical energy;

b) “financial institution” means a banking company to which the

Banking Regulation Act, 1949 applies, or any bank or banking institution

referred to in section 51 of that Act and includes a non-banking

ILQDQFLDOFRPSDQ\

133 1) In computing the total income of an assessee, there shall be

deducted, as per and subject to the provisions of this section,—

a) the whole of the aggregate of the sum or the sums paid by the

assessee, in the tax year as donations to––

the National Defence Fund set up by the Central

Government; or

ii) the Prime Minister’s National Relief Fund or the Prime

Minister’s Citizen Assistance and Relief in Emergency Situations

)XQG30&$5(6)81'RU

iii) the Prime Minister’s Armenia Earthquake Relief Fund; or

iv WKH$IULFD3XEOLF&RQWULEutions-India) Fund; or

v) the National Children’s Fund; or

vi) the National Foundation for Communal Harmony; or

vii) a University or any educational institution of national

eminence as may be approved by the prescribed authority in this

behalf; or

viii) any fund set up by the State Government of Gujarat

exclusively for providing relief to the victims of earthquake in

Gujarat; or

ix) any Zila Saksharta Samiti constituted in any district under

the chairmanship of the Collector of that district for improving

primary education in villages and towns having a population up to one

lakh according to the last census of which figures are published before

the first day of the relevant tax year, in such district and for literacy

and post-literacy activities; or

x) the National Blood Transfusion Council or any State Blood

Transfusion Council which has its sole object the control, supervision,

regulation or encouragement in India of the services related to

operation and requirements of blood banks; or

xi) any fund set up by a State Government to provide medical

relief to the poor; or

Deduction in

respect of

donations to

certain funds,

charitable

LQVWLWXWLRQVHWF

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 167

168

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

xii) the Army Central Welfare Fund or the Indian Naval

Benevolent Fund or the Air Force Central Welfare Fund established

by the armed forces of the Union for the welfare of the past and present

members of such forces or their dependants; or

xiii) the Andhra Pradesh Chief Minister’s Cyclone Relief

Fund, 1996; or

xiv) the National Illness Assistance Fund; or

xv) the Chief Minister’s Relief Fund or the Lieutenant

Governor’s Relief Fund, if the fund meets all the following

conditions:––

A) it is the only fund of its kind established in the State or

the Union territory;

B) it is under the overall control of the Chief Secretary

or the Department of Finance of the respective State or the Union

territory;

C) it is administered in a manner specified by the State

Government or the Lieutenant Governor; or

xvi) the National Sports Development Fund set up by the

Central Government; or

xvii) the National Cultural Fund set up by the Central

Government; or

xviii) the Fund for Technology Development and Application

set up by the Central Government; or

xix) the National Trust for Welfare of Persons with Autism,

Cerebral Palsy, Mental Retardation and Multiple Disabilities

FRQVWLWXWHGXQGHUVHFWLRQ1) of the National Trust for Welfare of

Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple

Disabilities Act, 1999; or

xx) the Swachh Bharat Kosh, set up by the Central Government,

other than the sum spent by the assessee in pursuance of Corporate

Social Responsibility under section 1355) of the Companies

Act, 2013; or

xxi) the Clean Ganga Fund, set up by the Central Government,

where such assessee is a resident and such sum is other than the sum

spent by the assessee in pursuance of Corporate Social Responsibility

under secWLRQ5) of the Companies Act, 2013; or

xxii) the National Fund for Control of Drug Abuse constituted

under section 7A of the Narcotic Drugs and Psychotropic Substances

Act, 1985; or

xxiii) the Government or to any such local authority, institution

or association as may be approved in this behalf by the Central

Government, to be utilised for the purpose of promoting

family planning; or

xxiv) the Indian Olympic Association or any other association

or institution established in India, as the Central Government may,

having regard to the guidelines issued in this behalf, by notification,

specify for the development of infrastructure for sports and games in

India or the sponsorship of sports and games in India, by an assessee

being a company;

18 of

168 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) an amount equal to 50% of the aggregate of the sums paid as

donation by an assessee during the tax year to––

i) the Prime Minister’s Drought Relief Fund;

ii) any fund or any institution to which this section applies, if:—

A) it is established in India for a charitable purpose; and

B) it is a registered non-profit organisation or an

institution or fund mentioned LQ6FKHGXOH9,,7DEOH6O1R

and approved under section 354;

iii) the Government or any local authority, to be utilised for any

charitable

purpose

other

than

the

purpose

promoting

family planning;

iv) an authority constituted in India by or under any law enacted

either for the purpose of dealing with and satisfying the need for

housing accommodation or for the purpose of planning, development

or improvement of cities, towns and villages, or for both;

v) a corporation established by the Central Government or any

State Government for promoting the interests of the members of such

minority community, as may be notified by the Central Government;

vi) any entity, for the renovation or repair of any temple,

mosque, gurudwara, church or other place which is notified by the

Central Government to be of historic, archaeological or artistic

importance or to be a place of public worship of renown throughout

DQ\6WDWHRU6WDWHV

2) Where the aggregate of the sums referred to in sub-VHFWLRQ1axxiii)

DQGxxiv), and sub-VHFWLRQ1biiWRvi) exceeds 10% of the adjusted gross

total income, then the amount in excess of 10% of the adjusted gross total income

shall be ignored for the purpose of computing the aggregate of the sums in respect

of which deduction is to be allowed under sub-VHFWLRQ1

3) Where deduction under this section is claimed and allowed for any tax

year in respect of any sum specified in sub-VHFWLRQ1), the sum in respect of which

deduction is so allowed shall not qualify for deduction under any other provision

RIWKLV$FWIRUWKHVDPHRUDQ\RWKHUWD[\HDU

4) The deduction under this section shall be allowed only for donation made

DVDVXPRIPRQH\

5) Any deduction for a donation over ൟ2000 shall be allowed only if the

SD\PHQWLVPDGHE\DPRGHRWKHUWKDQFDVK

6) Any claim of deduction by the assessee in his return of income filed for

any tax year in case of a donation made to an institution or fund referred in

sub-VHFWLRQ1bii), shall be allowed––

a) only on the basis of the information relating to such donation

furnished by such institution or fund to the prescribed authority or person

authorised by such authority; and

b) subject to verification as per the risk management strategy

IRUPXODWHGE\WKH%RDUGIURPWLPHWRWLPH

7) For the purposes of this section,––

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 169

170

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Deductions in

respect of rents

SDLG

a) “adjusted gross total income” means gross total income as reduced

by any portion thereof on which income-tax is not payable under any

provision of this Act and by any amount in respect of which the assessee is

entitled to a deduction under any other provision of this Chapter;

b) “charitable purpose” does not include any purpose the whole or

substantially the whole of which is of a religious nature;

c) “National Blood Transfusion Council” means a society registered

under the Societies Registration Act, 1860 and has an officer of the rank of

an Additional Secretary to the Government of India or higher to deal with

the AIDS Control Project as its Chairman;

d) “State Blood Transfusion Council” means a society registered, in

consultation with the National Blood Transfusion Council, under the

Societies Registration Act, 1860 or under any law corresponding to that Act

in force in any part of India and has a Secretary to the Government of that

State dealing with the Department of Health, as its Chairman;

e) an association or institution having as its object the control,

supervision, regulation or encouragement in India of such games or sports

as may be notified by the Central Government, shall be deemed to be an

institution established in India for a charitablHSXUSRVH

134 1) In computing the total income of an assessee, subject to other

provisions of this section, there shall be deducted any expenditure incurred by him

WRZDUGV SD\PHQW RI UHQW E\ ZKDWHYHU QDPH FDOOHG LQ UHVSHFW RI DQ\

furnished or unfurnished accommodation occupied by him for the purposes of his

RZQUHVLGHQFH

2) The deduction under sub-VHFWLRQ1) shall be allowable on payment of

such rent exceeding 10% of his total income, subject to a maximum of ൟ5000 per

PRQWKRURIWRWDOLQFRPHIRUWD[\HDUZKLFKHYHULVOHVV

3) For the purposes of deduction under sub-VHFWLRQ 1), such other

conditions or limitations having regard to the area or place in which such

accommodation is situated and other relevant consideration, as may be prescribed,

VKDOOEHWDNHQLQWRDFFRXQW

4) No deduction under this section shall be allowed to an assessee in any

case, where—

a) any residential accommodation is—

i) owned by the assessee or by his spouse or minor child or,

where such assessee is a member of a Hindu undivided family, by such

family at the place where he ordinarily resides or performs duties of

his office or employment or carries on his business or profession; or

ii)

owned by the assessee at any other place, being

accommodation in the occupation of the assessee, the value of which

is to be determinHGXQGHUVHFWLRQ6RU7a); or

the assessee has any income falling in Schedule III

7DEOH 6O 1R

5) For the purposes of this section, the expressions “10% of his total

income” and “25% of his total income” shall mean 10% or 25%, as the case may

be, of the total income of the assessee before allowing deduction for any

H[SHQGLWXUHXQGHUWKLVVHFWLRQ

170 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

135 1) In computing the total income of an assessee, there shall be

deducted, as per the provisions of this section, any sum paid by the assessee in the

tax year to,––

a) a research association which has as its object the undertaking of

scientific research, or a University, college or other institution approved for

WKHSXUSRVHVRIVHFWLRQ3ai) to be used for scientific research;

b) a research association which has as its object the undertaking of

research in social science or statistical research, or a University, college or

other institution approved for the purposes of VHFWLRQ3aii) to be used

for research in social science or statistical research;

2) Deduction for contributions made as per sub-VHFWLRQ1) shall not be

allowed, if—

a) the gross total income of the assessee includes income which is

chargeable under the head “Profits and gains of business or profession”; or

b) the contribution is made in cash exceeding ൟ2000

3) Deduction under sub-VHFWLRQ1aDQGb) shall not be denied merely

on the ground that subsequent to the payment of such sum by the assessee,

approval to such association, University, college, other institution referred therein

KDVEHHQZLWKGUDZQ

4) The claim of the assessee for a deduction in respect of any sum referred

to in sub-VHFWLRQ1) in the return of income for any tax year filed by him, shall be

allowed on the basis of information relating to such sum furnished by the payee

to the prescribed income-tax authority or the person authorised by such authority,

subject to verification as per the risk management strategy formulated by the

%RDUGIURPWLPHWRWLPH

5) Where a deduction for any tax year has been claimed and allowed in

respect of any payment of the nature referred to in this section, no deduction in

respect of such payment shall be allowed under any other provision of this Act in

DQ\WD[\HDU

136 1) An assessee, being an Indian company, shall be allowed a deduction

for the amount contributed by it, other than by way of cash, during a tax year to a

political party registered under section 29A of the Representation of the People

$FWRUDQHOHFWRUDOWUXVW

2) For the purposes of this section, the term “contribute”, with its

grammatical variations and cognate expressions shall have the same meaning as

assigned to it in section 182 of the CRPSDQLHV$FW

137 $QDVVHVVHHRWKHUWKDQDORFDODXWKRULW\DQGDQDUWLILFLDOMXULGLFDO

person wholly or partly funded by the Government), shall be allowed a deduction

for the amount contributed by him, other than by way of cash, during a tax year

to a political party registered under section 29A of the Representation of the

3HRSOH$FWRUDQHOHFWRUDOWUXVW

C.—Deductions in respect of certain incomes

138 ,QUHVSHFWRIDQ\WD[\HDUZKHUH––

a) the gross total income of an assessee includes any profits and gains

derived by an undertaking or an enterprise from any business referred to in

section 80-IA of the Income-tax Act, 1961; and

Deduction in

respect of

certain

donations for

scientific

research or rural

GHYHORSPHQW

Deduction in

respect of

contributions

given by

companies to

SROLWLFDOSDUWLHV

Deduction in

respect of

contributions

given by any

person to

SROLWLFDOSDUWLHV

Deductions in

respect of

profits and

gains from

industrial

undertakings or

enterprises

engaged in

infrastructure

development,

HWF

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 171

172

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Deductions in

respect of

profits and gains

by an

undertaking or

enterprise

engaged in

development of

Special

(FRQRPLF=RQH

Special

provision in

respect of

specified

EXVLQHVV

b) such assessee is eligible to claim a deduction from the profits and

gains derived from such business for such tax year under the provisions of

the said section, as if the said Act had not been repealed,

there shall be allowed, in computing the total income of the assessee, a deduction

from the profits and gains derived from such business, subject to the

conditions that—

i) the amount of deduction is calculated as per the provisions of

section 80-IA of the Income-tax Act,1961; and

ii) the deduction under this Act shall be allowed only for such tax

years, as would have been allowed under section 80-IA of the Income-tax

$FWDVLIWKHVDLG$FWKDGQRWEHHQUHSHDOHG

139 ,QUHVSHFWRIany tax year, where––

a) the gross total income of an assessee, being a Developer, includes

any profits and gains derived by an undertaking or an enterprise from any

business of developing a Special Economic Zone, notified on or after the

1st April, 2005 under the Special Economic Zones Act, 2005 referred to in

section 80-IAB of the Income-tax Act, 1961; and

b) such assessee is eligible to claim a deduction from the profits and

gains derived from such business for such tax year under the provisions of

the said section, as if the said Act had not been repealed,

there shall be allowed, in computing the total income of the assessee, a deduction

from the profits and gains derived from such business, subject to the

conditions that—

i) the amount of deduction is calculated as per the provisions of

section 80-IAB of the Income-tax Act, 1961; and

ii) the deduction under this Act shall be allowed only for such tax

years, as would have been allowed under section 80-IAB of the Income-tax

Act, 1961, as LIWKHVDLG$FWKDGQRWEHHQUHSHDOHG

140 1) Where the gross total income of an assessee, being an eligible

start-up, includes any profits and gains derived from eligible business, there shall,

as per and subject to the provisions of this section, be allowed, in computing the

total income of the assessee, a deduction of an amount equal to 100% of the profits

DQGJDLQVGHULYHGIURPVXFKEXVLQHVVIRUWKUHHFRQVHFXWLYHWD[\HDUV

2) The deduction specified in sub-VHFWLRQ1) may, at the option of the

assessee, be claimed by him for any three consecutive tax years out of ten years

beginning from the year in which the eligible start-XSLVLQFRUSRUDWHG

3) This section applies to a start-up which fulfils the following

conditions:—

a) it is not formed by splitting up, or the reconstruction, of a business

already in existence;

b) it is not formed by the transfer to a new business of machinery or

SODQWSUHYLRXVO\XVHGIRUDQ\SXUSRVH

4) Where the business of any undertaking carried on in India is discontinued

in any tax year by reason of extensive damage to, or destruction of, any building,

machinery, plant or furniture owned by the assessee and used for the purposes of

such business as a direct result of—

172 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

a) flood, typhoon, hurricane, cyclone, earthquake or other convulsion

of nature; or

b) riot or civil disturbance; or

c) accidental fire or explosion; or

d) action by an enemy or action taken in combating an enemy

ZKHWKHUZLWKRUZLWKRXWDGHFODUDWLRQRIZDU

and thereafter, at any time before the expiry of three years from the end of such

tax year, the business of such undertaking is re-established, re-constructed or

revived by the assessee, the condition referred to in sub-VHFWLRQ3a) shall not

apply to such undertaking which is so re-HVWDEOLVKHGUHFRQVWUXFWHGRUUHYLYHG

5) For the purposes of sub-VHFWLRQ3b), any machinery or plant which

was used outside India by any person other than the assessee shall not be regarded

as machinery or plant previously used for any purpose, if all the following

conditions are fulfilled:—

a) such machinery or plant was not, at any time previous to the date

of the installation by the assessee, used in India;

b) such machinery or plant is imported into India; and

c) no deduction on account of depreciation in respect of such

machinery or plant has been allowed or is allowable under the provisions of

this Act in computing the total income of any person for any period prior to

WKHGDWHRIWKHLQVWDOODWLRQRIWKHPDFKLQHU\RUSODQWE\WKHDVVHVVHH

6) Where in the case of a start-up, any machinery or plant or any part thereof

previously used for any purpose is transferred to a new business and the total value

of the machinery or plant or part so transferred does not exceed 20% of the total

value of the machinery or plant used in the business, then, for the purposes of

sub-VHFWLRQ3b), the condition specified therein shall be deemed to have been

FRPSOLHGZLWK

7) Irrespective of anything contained in any other provision of this Act, the

profits and gains of an eligible business to which the provisions of sub-VHFWLRQ1)

apply shall, for the purposes of determining the quantum of deduction under that

sub-section for the tax year immediately succeeding the initial tax year or any

subsequent tax year, be computed as if such eligible business was the only source

of income of the assessee during the initial tax year and to every subsequent tax

\HDUXSWRDQGLQFOXGLQJWKHWD[\HDUIRUZKLFKWKHGHWHUPLQDWLRQLVWREHPDGH

8) The deduction under sub-VHFWLRQ1) from profits and gains derived from

an eligible business shall not be admissible unless the accounts of the eligible

business for the tax year for which the deduction is claimed have been audited by

an accountant, before the specified date referred to in section 63 and the assessee

furnishes by that date the report of such audit in the prescribed form duly signed

DQGYHULILHGE\VXFKDFFRXQWDQW

9) In a case where, any goods or services held—

i) for the purposes of the eligible business are transferred to any other

business carried on by the assessee; or

ii) for the purposes of any other business carried on by the assessee

are transferred to the eligible business,

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 173

174

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

and, in either case, the consideration, if any, for such transfer as recorded in the

accounts of the eligible business does not correspond to the market value of such

goods or services as on the date of the transfer, then, for the purposes of the

deduction under this section, the profits and gains of such eligible business shall

be computed as if the transfer, in either case, had been made at the market value

RIVXFKJRRGVRUVHUYLFHVDVRQWKDWGDWH

10) For the purposes of sub-VHFWLRQ 9), where, in the opinion of the

Assessing Officer, the computation of the profits and gains of the eligible business

in the manner hereinbefore specified presents exceptional difficulties, the

Assessing Officer may compute such profits and gains on such reasonable basis

DVKHPD\GHHPILW

11) For the purposes of sub-VHFWLRQ9), “market value”, in relation to any

goods or services, means—

i) the price that such goods or services would ordinarily fetch in the

open market; or

ii) the arm’s length price as GHILQHG LQ VHFWLRQ a), where the

transfer of such goods or services is a specified domestic transaction referred

WRLQVHFWLRQ

12) Where any amount of profits and gains of an undertaking or of an

enterprise in the case of an assessee is claimed and allowed under this section for

any tax year, deduction to the extent of such profits and gains shall not be allowed

under any other provisions of Part C of this Chapter and shall in no case exceed

the profits and gains of such eligible business of undertaking or enterprise, as the

FDVHPD\EH

13) Where it appears to the Assessing Officer that owing to the close

connection between the assessee carrying on the eligible business to which this

section applies and any other person, or for any other reason, the course of

business between them is so arranged that the business transacted between them

produces to the assessee more than the ordinary profits which might be expected

to arise in such eligible business, the Assessing Officer shall, in computing the

profits and gains of such eligible business for the purposes of the deduction under

this section, take the amount of profits as may be reasonably deemed to have

EHHQGHULYHGWKHUHIURP

14) Where the arrangement as mentioned in sub-VHFWLRQ13) involves a

specified domestic transaction referred to in section 164, the amount of profits

from such transaction shall be determined having regard to arm’s length price as

GHILQHGLQVHFWLRQa

15) The Central Government may, after making such inquiry as it may think

fit, direct, by notification, that the exemption conferred by this section shall not

apply to any class of industrial undertaking or enterprise with effect from such

GDWHDVLWPD\VSHFLI\LQWKHQRWLILFDWLRQ

16) For the purposes of this section,––

a) “eligible business” means a business carried out by an eligible

start-up engaged in innovation, development or improvement of products or

processes or services or a scalable business model with a high potential of

employment generation or wealth creation;

174 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) “eligible start-up” means a company or a limited liability

partnership engaged in eligible business which fulfils the following

conditions:—

i) it is incorporated on or after the 1st April, 2016 but before the

1st April, 2030;

ii) the total turnover of its business does not exceed one hundred

crore rupees in the tax year relevant to the tax year for which deduction

under sub-VHFWLRQ1) is claimed; and

iii) it holds a certificate of eligible business from the

Inter-Ministerial Board of Certification as may be notified by the

Central Government;

c) “limited liability partnership” means a partnership referred to in

section 1nRIWKH/LPLWHG/LDELOLW\3DUWQHUVKLS$FW

141 ,QUHVSHFWRIDQ\WD[\HDUZKHUH––

a) the gross total income of an assessee, includes any profits and gains

derived from any business referred to in section 80-IB of the Income-tax

Act, 1961; and

b) such assessee is eligible to claim a deduction from the profits and

gains derived from such business for such tax year under the provisions of

the said section, as if the said Act had not been repealed,

there shall be allowed, in computing the total income of the assessee, a deduction

from the profits and gains derived from such business, subject to the

conditions that—

i) the amount of deduction is calculated as per the provisions of

section 80-IB of the Income-tax Act, 1961; and

ii) the deduction under this Act shall be allowed only for such tax

years, as would have been allowed under section 80-IB of the Income-tax

Act, 1961, as LIWKHVDLG$FWKDGQRWEHHQUHSHDOHG

142 ,QUHVSHFWRIDQ\WD[\HDUZKHUH––

a) the gross total income of an assessee, includes any profits and gains

derived from the business of developing and building housing projects or

rental housing projects referred to in section 80-IBA of the Income-tax

Act,1961; and

b) such assessee is eligible to claim a deduction from the profits and

gains derived from such business for such tax year under the provisions of

the said section, as if the said Act had not been repealed,

there shall be allowed, in computing the total income of the assessee, a

deduction from the profits and gains derived from such business, subject to the

conditions that—

i) the amount of deduction is calculated as per the provisions of

section 80-IBA of the Income-tax Act, 1961; and

ii) the deduction under this Act shall be allowed only for such tax

years, as would have been allowed under section 80-IBA of the Income-tax

Act, 1961, as LIWKHVDLG$FWKDGQRWEHHQUHSHDOHG

Deduction in

respect of

profits and gains

from certain

industrial

XQGHUWDNLQJV

Deductions in

respect of

profits and gains

from housing

projects

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 175

176

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Special

provisions in

respect of certain

undertakings in

North-Eastern

6WDWHV

143 1) Where the gross total income of an assessee includes any profits and gains

derived by an undertaking, to which this section applies, from any business referred to

in sub-VHFWLRQ2), there shall be allowed, in computing the total income of the assessee,

a deduction of an amount equal to 100% of the profits and gains derived from such

business for ten consecutive tax years commencing with the initial tax \HDU

2) This section applies to any undertaking which during the period beginning

on the 1st April, 2007 and ending before the 1st April, 2017, has begun or begins,

in any of the North-Eastern States,—

a) to manufacture or produce any eligible article or thing; or

b) to undertake substantial expansion to manufacture or produce any

eligible article or thing; or

c WRFDUU\RQDQ\HOLJLEOHEXVLQHVV

3) This section applies to any undertaking which fulfils all the following

conditions:—

a) it is not formed by splitting up, or the reconstruction, of a business

already in existence RWKHUWKDQDQXQGHUWDNLQJZKLFKLVIRUPHGDVDUHVXOWRI

the re-establishment, reconstruction or revival by the assessee of the business

of any such undertaking as is referred to LQVHFWLRQ4), in the circumstances

and within the period specified therein);

b) it is not formed by the transfer to a new business of machinery or

plant previously used for any purpose

4) For the purposes of sub-section 3)b), the provisions of section 1405) and

6 VKDOODSSO\

5) Irrespective of anything contained in any other provision of this Act, in

computing the total income of the assessee, no deduction shall be allowed under any

other section contained in this Chapter in relation to the profits and gains of

WKHXQGHUWDNLQJ

6) Irrespective of anything contained in this Act, no deduction shall be

allowed to any undertaking under this section, where the total period of deduction

inclusive of the period of deduction under this section or under second proviso to

section 80-,%4) of the Income-WD[$FWH[FHHGVWHQWD[\HDUV

7) The provisions contained in section 7WR15) shall, so far as may be,

DSSO\WRWKHHOLJLEOHXQGHUWDNLQJXQGHUWKLVVHFWLRQ

8) &ŽƌƚŚĞƉƵƌƉŽƐĞƐŽĨthis section,—

a) “eligible article or thing” means the article or thing other than the

following:—

i) goods falling under Chapter 24 of the First Schedule to the

Central Excise Tariff Act, 1985, which pertains to tobacco and

manufactured tobacco substitutes;

ii) pan masala as covered under Chapter 21 of the First Schedule

to the Central Excise Tariff Act, 1985;

iii) plastic carry bags of less than twenty microns as specified by

the Ministry of Environment and Forests vide notification numbers

62EGDWHGWKHQG6HSWHPEHUDQG62E), dated the

17th June, 2003; and

176 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

iv) goods falling under Chapter 27 of the First Schedule to the

Central Excise Tariff Act, 1985, produced by petroleum oil or

gas refineries;

b) “eligible business” means the business of—

i KRWHOQRWEHORZWZRVWDUFDWHJRU\

ii) adventure and leisure sports including ropeways;

iii) providing medical and health services in the nature of nursing

home with a minimum capacity of twenty-five beds;

iv) running an old-age home;

v) operating vocational training institute for hotel management,

catering and food craft, entrepreneurship development, nursing and

para-medical, civil aviation related training, fashion designing and

industrial training;

vi) running information technology related training centre;

vii) manufacturing of information technology hardware; and

viii) bio-technology;

c) “initial tax year” means the tax year in which the undertaking

begins to manufacture or produce articles or things, or completes

substantial expansion;

d) “North-Eastern States” means the States of Arunachal Pradesh,

Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura;

e) “substantial expansion” means increase in the investment in the plant

and machinery by at least 25% of the book value of plant and machinery

EHIRUHWDNLQJGHSUHFLDWLRQLQDQ\\HDUDVRQWKHILUVWGD\RIWKHWD[\HDULQ

ZKLFKWKHVXEVWDQWLDOH[SDQVLRQLVXQGHUWDNHQ

144 ,QUHVSHFWRIDQ\WD[year, where––

a) in computing the total income of an assessee, being an entrepreneur

DVUHIHUUHGWRLQVHFWLRQj) of the Special Economic Zones Act, 2005, who

begins to manufacture or produce articles or things or provide any services, as

referred to in section 10AA of the Income-tax Act, 1961; and

b) such assessee is eligible to claim a deduction from the profits and

gains derived from the export, of such articles or things or from services for

such tax year under the provisions of the said section, if the said Act had not

been repealed,

there shall be allowed, in computing the total income of the assessee, a

deduction from the profits and gains derived from such business, subject to the

conditions that—

i) the amount of deduction is calculated as per the provisions of

section 10AA of the Income-tax Act, 1961; and

ii) the deduction under this Act shall be allowed only for such tax years,

as would have been allowed under section 10AA of the Income-tax Act, 1961,

as if WKHVDLG$FWKDGQRWEHHQUHSHDOHG

Special

provisions in

respect of newly

established Units

in Special

Economic

=RQHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 177

178

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Deduction for

businesses

engaged in

collecting and

processing of

bio-degradable

ZDVWH

Deduction in

respect of

additional

employee cost

145 1) If the gross total income of an assessee includes any profits and gains

derived from the business of collecting and processing or treating of bio-degradable

waste for,—

a) generating power; or

b) producing bio-fertilizers, bio-pesticides or other biological agents; or

c) producing bio-gas; or

d) making pellets or briquettes for fuel or organic manure,

there shall be allowed a deduction equal to the whole amount of such profits and

gains for five consecutive tax years, beginning with the tax year in which such

EXVLQHVVFRPPHQFHV

146 1) Subject to the conditions specified in sub-VHFWLRQV2DQG3), if the

gross total income of an assessee, to whom section 63 applies, includes any profits

and gains derived from business, a deduction of an amount equal to 30% of additional

employee cost incurred in the course of such business in the tax year shall be allowed

2) The deduction referred to in sub-VHFWLRQ 1) shall be allowed for three

FRQVHFXWLYHWD[\HDUVEHJLQQLQJIURPWKHWD[\HDULQZKLFKWKHHPSOR\PHQWLVSURYLGHG

3) The deduction under sub-VHFWLRQ1) shall not be allowed, if––

a) the business is formed by splitting up, or the reconstruction, of an

existing business; or

b) the business is acquired by the assessee through transfer from any

other person or as a result of any business reorganisation; or

c) the assessee does not furnish the report of an accountant, before the

specified date as referred to in section 63, giving the particulars in the report,

as may be SUHVFULEHG

4) The condition referred to in sub-VHFWLRQ3a) shall not apply in respect of an

undertaking which is formed as a result of the re-establishment, reconstruction or revival

E\WKHDVVHVVHHRIWKHEXVLQHVVRIDQ\VXFKXQGHUWDNLQJDVLVUHIHUUHGWRLQVHFWLRQ4),

in the circumstances and within the period specified in said VHFWLRQ4

5) For the purposes of this section,—

a) “additional employee cost” means—

i) the total emoluments paid or payable to additional employees

employed during the tax year; or

ii) emoluments paid or payable to employees employed during the

tax year, where that year is the first year of a new business,

and it shall be nil in the case of an existing business, if—

A) there is no increase in the number of employees from the total

number employed as on the last day of the preceding tax year; or

B) emoluments are paid otherwise than by an account payee

cheque or account payee bank draft or by use of electronic clearing

system through a bank account or through such other electronic mode,

as may be prescribed;

b) “additional employee” means an employee who has been employed

during the tax year and whose employment increases the total number of

employees employed by the employer as on the last day of the preceding tax

year, but does not include any employee—

i) whose total emoluments exceed ൟ25000 per month;

178 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

ii) for whom the Government pays the entire contribution under

the Employees’ Pension Scheme notified as per the provisions of the

Employees, Provident Funds and Miscellaneous Provisions Act,1952;

iii) employed for less than one hundred and fifty days in case of

an assessee who is engaged in the business of manufacturing of apparel

or footwear or leather products, except where such employee is

employed for said number of days in the immediately succeeding tax

year, he shall be deemed as an additional employee of the succeeding

tax year and the provisions of this section shall apply accordingly;

iv) employed for less than two hundred and forty days during the

tax year in case of any other assessee, except where such employee is

employed for said number of days in the immediately succeeding tax

year, he shall be deemed as an additional employee of the succeeding

tax year and the provisions of this section shall apply accordingly; and

v) who does not participate in a recognised provident fund;

c) “emoluments” means any sum paid or payable to an employee in lieu

of his employment, by whatever name called, but does not include––

i) employer contributions paid or payable to any pension or

provident fund or any other fund for the benefit of the employee as

mandated by any law; and

ii) lump sum payments paid or payable to an employee at the time

of termination of his service, superannuation, or voluntary retirement,

such as gratuity, severance pay, leave encashment, voluntary

UHWUHQFKPHQWEHQHILWVFRPPXWDWLRQRISHQVLRQDQGWKHOLNH

147 1) Where the following assessee has any income of the nature

referred to in sub-VHFWLRQ3), there shall be allowed a deduction equal to 100% of

such income:—

a) a scheduled bank, or a bank incorporated under the laws of a country

outside India, and having an Offshore Banking Unit in a Special Economic

Zone; or

b DXQLWRIDQ,QWHUQDWLRQDO)LQDQFLDO6HUYLFHV&HQWUH

2) The deduction shall be allowed––

a) for ten consecutive tax years beginning from the relevant tax year in

the case of an entity mentioned in sub-VHFWLRQ1a);

b) for ten consecutive tax years out of fifteen years beginning from the

relevant tax year, at the option of an assessee, in the case of an entity

mentioned in sub-VHFWLRQ1b

3) The income referred to in sub-section 1) shall be the income from—

a) an Offshore Banking Unit located in a Special Economic Zone; or

b) WKH EXVLQHVV DFWLYLWLHV UHIHUUHG WR LQ VHFWLRQ 1) of the Banking

Regulation Act, 1949, with undertakings in a Special Economic Zone or

entities that develop, develop and operate, or develop, operate and maintain

Special Economic Zone; or

c) the approved business activities of any Unit of an International

Financial Services Centre set up in a Special Economic Zone; or

Deductions for

income of

Offshore

Banking Units

and Units of

International

Financial

6HUYLFHV&HQWUH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 179

180

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Deduction in

respect of certain

inter-corporate

GLYLGHQGV

Deduction in

respect of

income of

co-operative

VRFLHWLHV

d) transfer of an asset being, an aircraft or a ship, leased by a unit

UHIHUUHGWRLQFODXVHc) if such unit commenced its business operations by

31st March, 2030

4) The deduction under this section shall be allowed only if the assessee

submits along with the return of income––

a) a report in the form as may be prescribed, from an accountant

certifying the correctness of claim of deduction; and

b) a copy of the––

i SHUPLVVLRQ REWDLQHG XQGHU VHFWLRQ 1a) of the Banking

Regulation Act, 1949; or

ii) permission or registration obtained under the International

Financial Services &HQWUHV$XWKRULW\$FW

5) For the purposes of this section,—

a) “relevant tax year” shall be,—

i) in case of an entity mentioned in sub-VHFWLRQ1a), the tax year

LQZKLFKSHUPLVVLRQXQGHUVHFWLRQ1a) of the Banking Regulation

Act, 1949, or permission or registration under the Securities and Exchange

Board of India Act, 1992 or any other relevant law was obtained; or

ii) in case of an entity mentioned in sub-VHFWLRQ1b), the tax year

LQZKLFKSHUPLVVLRQXQGHUVHFWLRQ1a) of the Banking Regulation

Act, 1949, or permission or registration under the Securities and

Exchange Board of India Act, 1992, or permission or registration

under the International Financial Services Centre Authority Act, 2019

was obtained;

b) “Unit” shall have the same meaning as DVVLJQHGWRLWLQVHFWLRQzc)

of the Special Economic Zones Act, 2005;

c) “aircraft” and “ship” shall have the meanings respectively assigned

to them in Schedule VI Note 3)

148 1) If the gross total income of a domestic company in any tax year

includes any income by way of dividends from––

a) any other domestic company; or

b) a foreign company; or

c) a business trust,

such domestic company shall be allowed a deduction of an amount equal to

so much of the income by way of dividends received from the person

PHQWLRQHGLQFODXVHaRUbRUc) as does not exceed the amount of dividend

distributed by it at least one month before the due date for filing the return of income

under VHFWLRQ1

2) Where any deduction, in respect of the amount of dividend distributed by

the domestic company, has been allowed under sub-VHFWLRQ1) in any tax year, no

deduction shaOOEHDOORZHGLQUHVSHFWRIVXFKDPRXQWLQDQ\RWKHUWD[\HDU

149 1) If the gross total income of an assessee, being a co-operative society,

includes any income referred to in sub-VHFWLRQ2), the sums specified in the said

sub-section shall, in accordance with and subject to the provisions of this section,

EHDOORZHGDVGHGXFWLRQLQFRPSXWLQJWKHWRWDOLQFRPHRIVXFKDVVHVVHH

15 of 1992

180 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

2) The sums referred to in sub-VHFWLRQ1) shall be the following:—

a) in the case of a co-operative society engaged in—

i) carrying on the business of banking or providing credit facilities

to its members; or

ii) a cottage industry; or

iii)

the marketing of agricultural produce grown by its

members; or

iv) the purchase of agricultural implements, seeds, livestock or

other articles intended for agriculture for the purpose of supplying them

to its members; or

v) the processing, without the aid of power, of the agricultural

produce of its members; or

vi) the collective disposal of the labour of its members; or

vii) fishing or allied activities, that is to say, the catching, curing,

processing, preserving, storing or marketing of fish or the purchase of

materials and equipment in connection therewith for the purpose of

supplying them to its members,

the whole of the amount of profits and gains of business attributable to any

one or more of such activities;

b) in the case of a co-operative society, being a primary society engaged

in supplying milk, oilseeds, fruits, or vegetables raised or grown by its

members to––

i) a federal co-operative society, being a society, engaged in the

business of supplying milk, oilseeds, fruits or vegetables; or

ii) the Government or a local authority; or

iii D*RYHUQPHQWFRPSDQ\DVGHILQHGLQVHFWLRQ45) of the

Companies Act, 2013, or a corporation established by or under a Central

Act or State Act or Provincial Act, engaged in supplying milk, oilseeds,

fruits or vegetables, as the case may be, to the public,

the whole of the amount of profits and gains of such business;

c) in the case of a co-operative society engaged in activities other than

those VSHFLILHGLQFODXVHaRUbHLWKHULQGHSHQGHQWO\RIRULQDGGLWLRQWR

all or any of the activities so specified), that amount of profits and gains

attributable to such activities as does not exceed––

i) ൟ100000, if the society is a consumers’ co-operative

society; and

ii) ൟ50000, in any other case;

d) in respect of any income by way of interest or dividends derived by

the co-operative society from its investments with any other co-operative

society, the whole of such income;

e) in respect of any income derived by the co-operative society from the

letting of godowns or warehouses for storage, processing, or facilitating the

marketing of commodities, the whole of such income;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 181

182

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Interpretation for

purposes of

section 149

Deduction in

respect of

royalty income,

HWFRIDXWKRUV

of certain books

other than

text-books

f) in the case of a co-operative society, not being––

i) a housing society; or

ii) an urban consumers’ VRFLHW\EHLQJDVRFLHW\IRUWKHEHQHILWRI

the consumers within the limits of a municipal corporation, municipality,

municipal committee, notified area committee, town area, or

cantonment); or

iii) a society carrying on transport business; or

iv) a society engaged in performing manufacturing operations

with the aid of power,

where the gross total income does not exceed ൟ20000, the amount of

income by way of interest on securities; any income from house property

chargeable under VHFWLRQ

In the case of a co-operative society as referred to in

sub-VHFWLRQ 2avi RU vii), provisions of sub-VHFWLRQ 1) shall only apply

when the rules and bye-laws of the society restrict the voting rights to the

following classes of its members:—

i) the individuals who contribute their labour or carry on fishing or

allied activities;

ii) the co-operative credit societies which provide financial assistance

to the society;

iii) the State Government

4) The deduction under sub-VHFWLRQ1) in relation to the sums specified in

sub-section 2)a) or bRUc) or sub-VHFWLRQ3), shall be allowed with reference to

the income referred to in those sub-sections included in the gross total income

after reducing the deduction under section 138, if the assessee is also entitled to

VXFKGHGXFWLRQ

5) The provision of this section shall not apply to any co-operative bank

which is not a primary agricultural credit society or a primary co-operative

agriculWXUDODQGUXUDOGHYHORSPHQWEDQN

150)RUWKHSXUSRVHVRIVHFWLRQ––

a) “consumers’ co-operative society” means a society for the benefit of

the consumers;

b) “primary agricultural credit society” has the same meaning as

assigned to it in Part V of the Banking Regulation Act, 1949; and

c) “primary co-operative agricultural and rural development bank”

means a society having an area of operation confined to a taluk, the principal

object of which is to provide long-term credit for agricultural and rural

GHYHORSPHQWDFWLYLWLHV

151 1) Where, in the case of an individual, being an author resident in India,

the gross total income includes any income, derived by him in the exercise of his

profession, on account of any lump sum consideration for the assignment or grant

of any of his interests in the copyright of any book being a work of literary, artistic

RUVFLHQWLILFQDWXUHRURIUR\DOW\RUFRS�LJKWIHHVZKHWKHUUHFHLYDEOHLQOXPSVXP

or otherwise) in respect of such book, there shall, as per and subject to the provisions

of this section, be allowed, in computing the total income of the assessee, a

deduction from such income, computed in the manner specified in sub-VHFWLRQ2

182 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

2) The deduction under this section shall be equal to the whole of such

income referred to in sub-VHFWLRQ1), or an amount of ൟ300000, whichever is

OHVV

3) Where the income by way of such royalty or the copyright fee is not a lump

sum consideration in lieu of all rights of the assessee in the book, so much of the

income, before allowing expenses attributable to such income, as is in excess of

15% of the value of such books sold during the tax year shall be ignoredfor the

SXUSRVHVRIGHGXFWLRQXQGHUWKLVVHFWLRQ

4) In respect of any income earned from any source outside India, so much

of the income shall be taken into account for the purpose of this section as is

brought into India by, or on behalf of, the assessee in convertible foreign

exchange within six months from the end of the tax year in which such income

is earned or within such further period as the competent authority may allow in

WKLVEHKDOI

5) Deduction under this section shall not be allowed unless the assessee

furnishes a certificate in such form and manner, as may be prescribed, duly verified

by any person responsible for making such payment to the assessee as referred to in

sub-sHFWLRQ1), along with the return of income, setting forth such particulars as

may be SUHVFULEHG

6) Deduction under this section shall not be allowed in respect of any income

earned from any source outside India, unless the assessee furnishes a certificate, in

the prescribed form from the prescribed authority, along with the return of income

in the preVFULEHGPDQQHU

7) Where a deduction for any tax year has been claimed and allowed in

respect of any income referred to in this section, no deduction in respect of such

LQFRPHVKDOOEHDOORZHGXQGHUDQ\RWKHUSURYLVLRQRIWKLV$FWLQDQ\WD[\HDU

8) For the purposes of this section,—

a) “author” includes a joint author;

b) “books” shall not include brochures, commentaries, diaries, guides,

journals, magazines, newspapers, pamphlets, text-books for schools, tracts and

other publications of similar nature, by whatever name called;

c) “competent authority” means the Reserve Bank of India or such other

authority as is authorised under any law in force for regulating payments and

dealings in foreign exchange;

d) “lump sum”, in regard to royalties or copyright fees, includes an advance

SD\PHQWRQDFFRXQWRIVXFKUR\DOWLHVRUFRS�LJKWIHHVZKLFKLVQRWUHWXUQDEOH

152 1) An assessee, being an individual, who is––

a) resident in India;

b) a patentee;

c) in receipt of income by way of royalty in respect of a patent

registered on or after the 1st April, 2003 under the Patents Act, 1970; and;

d) having gross total income for the tax year which includes royalty,

shall be allowed a deduction from such income computed in the manner specified

in sub-VHFWLRQV2WR7

Deduction in

respect of

royalty on

patents

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 183

184

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

2) The deduction under this section shall be equal to the whole of such income

referred to in sub-VHFWLRQ1) or ൟ300000ZKLFKHYHULVOHVV

3) Where a compulsory licence is granted in respect of any patent under the

Patents Act, 1970, the income by way of royalty for the purpose of allowing

deduction under this section shall not exceed the amount of royalty under the terms

DQGFRQGLWLRQVRIDOLFHQFHVHWWOHGE\WKH&RQWUROOHUXQGHUWKDW$FW

4) In respect of any income earned from any source outside India, so much of

the income, shall be taken into account for the purpose of this section as is brought

into India by, or on behalf of, the assessee in convertible foreign exchange within

six months from the end of the tax year in which such income is earned or within

such further period as the competent authority referred to in section 1518c) may

DOORZLQWKLVEHKDOI

5) No deduction under this section shall be allowed unless the assessee

furnishes a certificate in the prescribed form, duly signed by the authority as may

be prescribed, along with the return of income setting forth such particulars as may

be SUHVFULEHG

6) No deduction under this section shall be allowed in respect of any income

earned from any source outside India, unless the assessee furnishes a certificate in

such form, from the authority or authorities, as may be prescribed, along with the

UHWXUQRILQFRPH

7) where a deduction for any tax year has been claimed and allowed in respect

of any income referred to in this section, no deduction in respect of such income

VKDOOEHDOORZHGXQGHUDQ\RWKHUSURYLVLRQRIWKLV$FWLQDQ\WD[\HDU

8) For the purposes of this section,––

a) “Controller” PHDQVWKHDXWKRULW\DVGHILQHGLQVHFWLRQ1b) of the

Patents Act, 1970;

b) “lump sum” includes a non-returnable advance payment for royalties;

c) “patent” means any patent granted,including a patent of addition,

under the Patents Act, 1970;

d) “patentee” means the true and first inventor recorded as the patentee

under the Patents Act, 1970, including joint patentees recorded as such true

and first inventors;

e) “patent of addition” shall have the same meaning as assigned to it in

VHFWLRQ1q) of the Patents Act, 1970;

f) “patented article” and “patented process” shall have the same

meanings as assigned to them LQVHFWLRQ1o) of the Patents Act, 1970;

g) “royalty” in respect of a patent, means consideration for—

i WKH WUDQVIHU RI DOO RU DQ\ ULJKWV LQFOXGLQJ WKH JUDQWLQJ RID

licence) in respect of a patent; or

ii) the imparting of any information concerning the working of, or

the use of, a patent; or

iii) the use of any patent; or

iv) the rendering of any services in connection with the activities

referred to in sub-FODXVHV i WR iii), but does not include any

consideration,––

A) which would be the income of the recipient chargeable

under the head “Capital gains”; or

39 RI

184 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

B) for sale of product manufactured with the use of patented

process or of the patented article for commercial use;

h) “true and first inventor” shall have the same meaning as assigned to

it LQVHFWLRQ1yRIWKH3DWHQWV$FW

D.—Deductions in respect of other incomes

153 1) An assessee who is––

a) an individual, not being a senior citizen; or

b) an individual, being a senior citizen; or

c) a Hindu undivided family,

shall be allowed a deduction from the gross total income, subject to conditions

specified in sub-VHFWLRQ 2), where it includes income by way of interest on

deposits with––

i) a banking company to which the Banking Regulation Act, 1949,

DSSOLHVLQFOXGLQJDQ\EDQNRUEDQNLQJLQVWLWXWLRQUHIHUUHGWRLQ section 51 of

that Act); or

ii) a co-operative society engaged in carrying on the business of banking

LQFOXGLQJ D FR-operative land mortgage bank or a co-operative land

development bank); or

iii D3RVW2IILFHDVGHILQHGLQVHFWLRQk) of the Post Office Act, 2023

2) The deduction under sub-VHFWLRQ1) shall be allowed for a tax year as follows:—

a) in case of an assessee mentioned in sub-section 1)aRUc), the

whole of the interest up to a maximum amount of ൟ10000 on deposits in a

savings account, excluding time deposits;

b) in case of an assessee mentioned in sub-VHFWLRQ1)b), the whole of

the interest up to a maximum amount of ൟ50000 on deposits in any account,

LQFOXGLQJWLPHGHSRVLWV

3) Where the income referred to in sub-VHFWLRQ2a) is derived from any

deposit in a savings account held by, or on behalf of, a firm, an association of

persons or a body of individuals, no deduction shall be allowed under this section

in respect of such income in computing the total income of any partner of the firm

RUDQ\PHPEHURIVXFKDVVRFLDWLRQRUDQ\LQGLYLGXDORIVXFKERG\RILQGLYLGXDOV

4) Where the income referred to in sub-VHFWLRQ2b) is derived from any

deposit held by, or on behalf of, a firm, an association of persons or a body of

individuals, no deduction shall be allowed under this section in respect of such

income in computing the total income of any partner of the firm or any member of

VXFKDVVRFLDWLRQRUDQ\LQGLYLGXDORIVXFKERG\RILQGLYLGXDOV

5) For the purposes of this section, the expression “time deposits” means the

GHSRVLWVUHSD\DEOHRQH[SLU\RIIL[HGSHULRGV

E.—Other deductions

154 1) An individual, being resident in India, who is certified by a medical

authority, at any time during the tax year, as a person with disability or person with

severe disability, shall be allowed a deduction of ൟ75000 or ൟ125000, respectively,

while compuWLQJKLVWRWDOLQFRPH

2) The deduction under sub-VHFWLRQ1) shall be allowed only if all of the

following conditions are fulfilled:––

a) the individual furnishes a copy of the certificate issued by the medical

authority;

Deduction for

interest on

deposits

Deduction in

case of a person

ZLWKGLVDELOLW\

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 185

186

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Rebate to be

allowed in

computing

income-WD[

Rebate of

income-tax in

case of certain

LQGLYLGXDOV

Relief when

VDODU\HWFLV

paid in arrears or

in advance

b) if the certificate specifies that the disability needs reassessment of its

extent after a period stipulated in it, the deduction shall not be allowed for any

tax year succeeding the tax year in which the certificate expires, unless a new

disability certificate is obtained and furnished; and

c WKH FHUWLILFDWH UHIHUUHG WR LQFODXVHVaDQG b) of this sub-section is

furnished in the form and manner, as may be prescribed, along with the return of

income under section 263 for the tax year in which the deduFWLRQLVFODLPHG

3) For the purposes of this section, “disability”, “medical authority”, “person

with disability” or “person with severe disability” shall have the same meanings as

provided in section

CHAPTER IX

REBATES AND RELIEFS

A.—Rebates and reliefs

155 1) In computing income-tax on the total income of an assessee with which

he is chargeable for any tax year, there shall be allowed from income-WD[DVFRPSXWHG

before allowing the deductions under this Part), subject to the provisions of section 156,

WKHGHGXFWLRQVVSHFLILHGWKHUHLQ

2) The deduction under section 156, shall not, in any case, exceed

income-WD[DVFRPSXWHGEHIRUHDOORZLQJWKHGHGXFWLRQVXQGHUWKLVPart) on the total

income of the assessee with which he is chargeable for DQ\WD[\HDU

156 1) An assesse, being an individual resident in India, shall be entitled to

a deduction of 100% of income-tax payable or ൟ12500, whichever is less, from the

income-WD[ FRPSXWHG EHIRUH DOORZLQJ WKH GHGXFWLRQ XQGHU WKLV VHFWLRQ

chargeable on the total income for any tax year if such total income does not

exceed ൟ500000

2) Where the total income of a resident individual assessee for any tax year is

FKDUJHDEOH WR WD[ XQGHU VHFWLRQ 1), then from income-WD[ FRPSXWHG EHIRUH

allowing the deduction under this section) following deductions shall be allowed, if—

a) the income does not exceed twelve lakh rupees, 100% of the

income-tax payable or ൟ60000, whichever is less;

b) the total income exceeds twelve lakh rupees and the income-tax

payable on such total income exceeds the amount by which the total income

is in excess of twelve lakh rupees, an amount equal to the amount by which

the income-tax payable on such total income is in excess of the amount by

which the total income H[FHHGVWZHOYHODNKUXSHHV

3) The deduction under sub-VHFWLRQ2), shall not exceed income-tax payable as

SHUWKHUDWHVSURYLGHGLQVHFWLRQ1

157 1) Where the total income of an assessee is assessed at a rate higher than the

rate at which it would otherwise have been assessed, due to the following receipts,—

a) a sum in the nature of arrear or advance salary; or

b) salary for more than twelve months in any one tax year; or

c) a payment in the nature of “profits in lieu of salary” under

section 1); or

d) arrears of “family pension” as defined in section 931d),

the Assessing Officer shall on an application made to him by the assessee in this

behalf, grant such relief, as may be SUHVFULEHG

186 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

2) No relief shall be granted on any income on which deduction has been

FODLPHG E\ WKH DVVHVVHH LQ VHFWLRQ 1)7DEOH 6O 1R IRU any amount

PHQWLRQHGWKHUHLQIRUVXFKRUDQ\RWKHUWD[\HDU

158 1) The income accrued to a specified person in a specified account shall

be taxed in such manner and in such tax year, as may be SUHVFULEHG

2) For the purposes of this section,—

a) “notified country” means a country as may be notified by the Central

Government;

b) “specified account” means an account maintained in a notified country

by the specified person for his retirement benefits, the income from which is taxed

by that notified country at the time of withdrawal or redemption and, not on

accrual basis;

c) “specified person” means a person resident in India having opened a

specified account in a notified country while being non-resident in India and

UHVLGHQWLQWKDWFRXQWU\

B—Double taxation relief

159 1) The Central Government may enter into an agreement with the

Government of—

a) any other country; or

b) any specified territory,

for the purposes mentioned in sub-VHFWLRQ3), and may, by notification, make such

SURYLVLRQVDVQHFHVVDU\IRULPSOHPHQWLQJWKHDJUHHPHQW

2) Any specified association in India may enter into an agreement with any

specified association in the specified territory for the purposes mentioned in

sub-section 3) and the Central Government may, by notification, make such

SURYLVLRQVDVPD\EHQHFHVVDU\IRUDGRSWLQJDQGLPSOHPHQWLQJVXFKDJUHHPHQW

3) The agreement mentioned in sub-VHFWLRQ1RU2) may be entered for—

a) the granting of relief in respect of—

i) income on which income-tax under this Act and income-tax in

that country or specified territory, as the case may be have been paid;

ii) income-tax chargeable under this Act and under the

corresponding law in force in that country or specified territory, as the

case may be, to promote mutual economic relations, trade and

investment; or

b) the avoidance of double taxation of income under this Act and under

the corresponding law in force in that country or specified territory, as the case

may be, without creating opportunities for non-taxation or reduced taxation

WKURXJK WD[ HYDVLRQ RU DYRLGDQFH LQFOXGLQJ WKURXJK WUHDW\-shopping

arrangements aimed at obtaining reliefs provided in the said agreement for the

indirect benefit to residents of any other country or territory);

c) exchange of information for––

i) the prevention of evasion or avoidance of income-tax

chargeable under this Act or under the corresponding law in force in that

country or specified territory, as the case may be; or

ii) investigation of cases of such evasion or avoidance; or

d) recovery of income-tax under this Act and under the corresponding

ODZLQIRUFHLQWKDWFRXQWU\RUVSHFLILHGWHUULWRU\DVWKHFDVHPD\EH

Relief from

taxation in

income from

retirement

benefit account

maintained in a

QRWLILHGFRXQWU\

Agreement with

foreign countries

or specified

territories and

adoption by

Central

Government of

agreement

between

specified

associations for

double taxation

UHOLHI

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 187

188

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

4) Where,––

a) the Central Government has entered into an agreement with the

Government of any country or specified territory, as the case may be, under

sub-VHFWLRQ1); or

b) a specified association in India has entered into an agreement with a

specified association of any specified territory under sub-VHFWLRQ2) and such

agreement has been notified under that sub-section,

for granting relief of tax, or avoidance of double taxation, then, in relation to the

assessee to whom such agreement applies, the provisions of this Act shall apply to

WKHH[WHQWWKH\DUHPRUHEHQHILFLDOWRWKDWDVVHVVHH

5) The charge of tax,––

a) in respect of a foreign company at a rate higher than the rate at which

a domestic company is chargeable; or

b) in respect of a company incorporated in the specified territory at a

rate higher than the rate at which a domestic company is chargeable,

shall not be regarded as less favourable charge or levy of tax in respect of such

foreign company or such company incorporated in the specified territory, as the case

PD\EH

6) Irrespective of anything contained in sub-VHFWLRQ4), the provisions of

Chapter XI shall apply to the assessee, even if such provisions are not

EHQHILFLDOWRKLP

7) Where, any––

a) term used in an agreement entered into under sub-VHFWLRQ1RU2),

is defined under the said agreement, the said term shall have the same meaning

as assigned to it in that agreement and where the term is not defined in that

agreement, but defined in this Act, it shall have the same meaning as assigned

to it in this Act and the explanation, if any, given to it by the Central

Government; or

b) term is used but not defined in this Act or in the agreement referred to in

sub-VHFWLRQ1RU2), it shall, unless the context otherwise requires, and is not

inconsistent with the provisions of this Act or the said agreement, have the same

meaning as assigned to it in the notification issued by the Central Government in

this behalf, and the meaning assigned to such term shall be deemed to have effect

from the date on which that agreement came into force; or

c) term is used in any agreement entered into under sub-VHFWLRQ1) or

2), and not defined under the said agreement or this Act, or in any notification

LVVXHGXQGHUFODXVHb), then, unless the context otherwise requires, it shall

have the same meaning as assigned to it––

i) in any Act of the Central Government related to taxes; and

ii) in any other case, in any other law of the Central Government,

and shall be deemed to have effect from the date on which the said agreement came

LQWRIRUFH

8) An assessee, not being a resident, shall be entitled to claim any relief under

an agreement mentioned in sub-VHFWLRQ1RU2), only when––

a) a certificate of his being a resident in any country or specified

territory, is obtained by him from the Government of that country or

Government of that specified territory, as the case may be; and

b) he provides such other documents and information, as may be SUHVFULEHG

188 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

9) For the purposes of this section,––

a) “specified associations” means any institution, association or body,

whether incorporated or not––

A) functioning under any law for the time being in force in India

or the laws of the specified territory; and

B) which may be notified as such by the Central Government for

the purposes of this section;

b) “specified territory” means any area outside India which may be

notified as such by the Central Government

160 1) If any person who is resident in India in any tax year proves that, in respect

RIKLVLQFRPHZKLFKDFFUXHGRUDURVHGXULQJWKDWWD[\HDURXWVLGH,QGLDDQGZKLFKLV

not deemed to accrue or arise in India), he has paid in any country with which there is

no agreement under section 159 for the relief or avoidance of double taxation,

income-tax, by deduction or otherwise, under the law in force in that country, he shall

be entitled to the deduction from the Indian income-tax payable by him of a sum

calculated on such doubly taxed income,––

a) at the Indian rate of tax or the rate of tax of the said country, whichever

is the lower; or

b DWWKH,QGLDQUDWHRIWD[LIERWKWKHUDWHVDUHHTXDO

2) If any non-resident person is assessed on his share in the income of a

registered firm assessed as resident in India in any tax year and such share includes

DQ\LQFRPHDFFUXLQJRUDULVLQJRXWVLGH,QGLDGXULQJWKDWWD[\HDUDQGZKLFKLVQRW

deemed to accrue or arise in India) in a country with which there is no agreement

under section 159 for the relief or avoidance of double taxation and he proves that

he has paid income-tax by deduction or otherwise under the law in force in that

country in respect of the income so included he shall be entitled to a deduction from

the Indian income-tax payable by him of a sum calculated on such doubly taxed

income so included,––

a) at the Indian rate of tax or the rate of tax of the said country, whichever

is the lower; or

b) at the Indian rate of tax if both the rates are equal

3) For the purposes of this section,—

a) “income-tax” in relation to any country includes any excess profits tax

or business profits tax charged on the profits by the Government of any part of

that country or a local authority in that country;

b) “Indian income-tax” means income-tax charged as per this Act;

c) “Indian rate of tax” means the rate determined by dividing Indian

income-tax after deduction of any relief due under the provisions of this Act but

before deduction of any relief due under this Part, by the total income; and

d) “rate of tax of the said country” means income-tax and super-tax

actually paid in the said country as per the corresponding laws in force in the

said country after deduction of all relief due, but before deduction of any relief

due in the said country in respect of double taxation, divided by the whole

DPRXQWRIWKHLQFRPHDVDVVHVVHGLQWKHVDLGFRXQWU\

Countries with

which no

agreement

H[LVWV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 189

190

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Computation of

income from

international

transaction and

specified

domestic

transaction

having regard to

arm’s length

SULFH

Meaning of

associated

HQWHUSULVH

CHAPTER X

SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX

161 1) Any income arising from an international transaction or a specified

domestic transaction shall be determined having regard to the arm’VOHQJWKSULFH

2) Any allowance for any expense or interest arising from an international

transaction or a specified domestic transaction shall also be determined having regard to

the arm’VOHQJWKSULFH

3) If in an international transaction or specified domestic transaction, two or more

associated enterprises enter into a mutual agreement or arrangement for––

a) allocation or apportionment of any cost or expense incurred or to be

incurred in connection with a benefit, service or facility provided or to be provided

to any one or more of such enterprises; or

b) any contribution to any cost or expense incurred or to be incurred in

connection with a benefit, service or facility provided or to be provided to any one

or more of such enterprises,

the cost or expense allocated or apportioned to, or, contributed by, any such

enterprise shall be determined having regard to the arm’s length price of such

EHQHILWVHUYLFHRUIDFLOLW\

4) The provisions of this section shall not apply if the determination under

sub-VHFWLRQ1RU2RU3) has the effect of reducing the income chargeable to tax

or increasing the loss, computed on the basis of entries made in the books of account

in respect of the tax year in which the international transaction or specified domestic

WUDQVDFWLRQZDVHQWHUHG

162 1) For the purposes of this Chapter, the expression “associated

enterprise”, in relation to another enterprise, means an enterprise—

a) which participates, directly or indirectly, or through one or more

intermediaries, in the management or control or capital of the other

enterprise in the following manner,—

i) one or more persons who participate, directly or indirectly, or

through one or more intermediaries, in management or control or capital

of one enterprise, also participate, directly or indirectly, or through one

or more intermediaries, in the management or control or capital of the

other enterprise; or

ii) one enterprise holds, at any time during the tax year, directly

or indirectly, shares carrying not less than 26% of the voting power in

the other enterprise; or

iii) any person or enterprise holds, at any time during the tax year,

directly or indirectly, shares carrying not less than 26% of the voting

power in each of such enterprises; or

b) which has advanced a loan to the other enterprise and such loan

constitutes not less than 51% of the book value of the total assets of the other

enterprise; or

c) which guarantees not less than 10% of the total borrowings of the

other enterprise; or

190 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

d) whose more than half of the board of directors or members of the

governing board, or one or more executive directors or executive members of

the governing board, are appointed by the other enterprise; or

e) whose more than half of the directors or members of the governing

board, or one or more of the executive directors or members of the governing

board, are appointed by the same person or persons, who has or have done so

for the other enterprise; or

f) in case of which, manufacturing or processing of goods or articles

or business carried out by such enterprise is wholly dependent on the use

of know-how, patents, copyrights, trademarks, licences, franchises or any

other business or commercial rights of similar nature, or any data,

documentation, drawing or specification relating to any patent, invention,

model, design, secret formula or process, of which the other enterprise is

the owner or in respect of which the other enterprise has exclusive

rights; or

g) in case of which, 90% or more of the raw materials and consumables

required for the manufacture or processing of goods or articles carried out by

such enterprise, are supplied by the other enterprise, or by persons specified

by the other enterprise, and the prices and other conditions relating to the

supply are influenced by such other enterprise; or

h) in case of which, the goods or articles manufactured or processed by

such enterprise, are sold to the other enterprise or to persons specified by the

other enterprise, and the prices and other conditions relating thereto are

influenced by such other enterprise; or

i) which is controlled by an individual, and the other enterprise is also

controlled by such individual or his relative or jointly by such individual and

relative of such individual; or

j) which is controlled by a Hindu undivided family, and the other

enterprise is controlled by a member of such Hindu undivided family or by a

relative of a member of such Hindu undivided family or jointly by such

member and his relative; or

k) which is a firm, association of persons or body of individuals, and

the other enterprise holds not less than 10% interest in such firm, association

of persons or body of individuals; or

l) which has any relationship of mutual interest with the other

HQWHUSULVHDVPD\EHSUHVFULEHG

2) In relation to a specified domestic transaction entered into by an assessee,

associated enterprise shall also include—

a) other units or undertakings or businesses of such assessee in respect

of a transaction referred to in section 122 or 1409);

b) any other person referred to in section 14013) or 2054) in respect

of a transaction referred to therein; and

c) other units, undertakings, enterprises or business of such assessee, or

other person referred to in section 14013) in respect of a transaction referred

to in section 144 or the transactions referred to in Chapter VIII to which the

provisions of section 1409RU13)of this Act or section 80-,$8RU10) of

the Income-tax Act, 1961 DUHDSSOLFDEOH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 191

192

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Meaning of

international

WUDQVDFWLRQ

163 1) For the purposes of this Chapter, the expression “international

transaction” means a transaction between two or more associated enterprises, one

of which is necessarily a non-resident, and includes—

a) the purchase, sale, transfer, lease or use of tangible property,

including building, transportation vehicle, machinery, equipment, tools, plant,

furniture, commodity or any other article, product or thing;

b) the purchase, sale, transfer, lease or use of intangible property,

including the transfer of ownership or the provision of use of rights regarding

land use, copyrights, patents, trademarks, licences, franchises, customer list,

marketing channel, brand, commercial secret, know-how, industrial property

right, exterior design or practical and new design or any other business or

commercial rights of similar nature;

c) capital financing, lending or borrowing of money, including,––

i) any type of long-term or short-term borrowing, lending or

guarantee; or

ii) purchase or sale of marketable securities; or

iii) any type of advance, payments or deferred payment or

receivable or any other debt arising during the course of business;

d) provision of services, including provision of market research, market

development, marketing management, administration, technical service,

repairs, design, consultation, agency, scientific research, legal or accounting

service;

e) a transaction of business restructuring or reorganisation, entered into

by an enterprise with an associated enterprise, irrespective of the fact that it

has any bearing on the profit, income, losses or assets of such enterprises at

the time of the transaction or at any future date;

f) a mutual agreement or arrangement between two or more associated

enterprises for the allocation or apportionment of, or any contribution to, any

cost or expense incurred or to be incurred in connection with a benefit,

service or facility provided or to be provided to any one or more of such

enterprises;

g) any other transaction having a bearing on the profits, income, losses

RUDVVHWVRIVXFKHQWHUSULVHV

2) A transaction entered into by an enterprise with a person other than an

DVVRFLDWHGHQWHUSULVH“other person”) shall, for sub-VHFWLRQ1), be deemed to be an

international transaction entered into between two associated enterprises, if—

a) there exists a prior agreement in relation to the relevant transaction

between such other person and the associated enterprise; or

b) the terms of the relevant transaction are determined, in substance,

between such other person and the associated enterprise,

and the enterprise or the associated enterprise or both of them are non-residents,

irrespective of whether the other person is a non-UHVLGHQWRUQRW

3) The expression “intangible property” shall include:—

a) marketing related intangible assets, such as, trademarks, trade names,

brand names, logos;

192 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

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b) technology related intangible assets, such as, process patents, patent

applications, technical documentation such as laboratory notebooks, technical

know-how;

c) artistic related intangible assets, such as, literary works and

copyrights, musical compositions, copyrights, maps, engravings;

d) data processing related intangible assets, such as, proprietary

computer software, software copyrights, automated databases, and integrated

circuit masks and masters;

e) engineering related intangible assets, such as, industrial design,

product patents, trade secrets, engineering drawing and schematics, blueprints,

proprietary documentation;

f) customer related intangible assets, such as, customer lists, customer

contracts, customer relationship, open purchase orders;

g) contract related intangible assets, such as, favourable supplier, contracts,

licence agreements, franchise agreements, non-compete agreements;

h) human capital related intangible assets, such as, trained and

organised work force, employment agreements, union contracts;

i) location related intangible assets, such as, leasehold interest, mineral

exploitation rights, easements, air rights, water rights;

j) goodwill related intangible assets, such as, institutional goodwill,

professional practice goodwill, personal goodwill of professional, celebrity

goodwill, general business going concern value;

k) methods, programmes, systems, procedures, campaigns, surveys,

studies, forecasts, estimates, customer lists, or technical data;

l) any other similar item that derives its value from its intellectual

FRQWHQWUDWKHUWKDQLWVSK\VLFDODWWULEXWHV

164 For the purposes of this Chapter, the expression “specified domestic

transaction” in case of an assessee means any of the following transactions not

being an international transaction),—

a) any transaction referred to in section 122;

b) any transfer of goods or services referred to in section 1409);

c) any business transacted between the assessee and other person as

referred to in section 14013);

d) any transaction, referred to in any other section under Chapter VIII

RUVHFWLRQWRZKLFKSURYLVLRQVRIVHFWLRQ9RU13) of this Act or

section 80-,$8RU10) of the Income-tax Act, 1961 are applicable;

H DQ\ EXVLQHVV WUDQVDFWHG EHWZHHQ WKH SHUVRQV UHIHUUHG WR LQ

VHFWLRQ4);

f) any other transaction as may be prescribed,

and where the aggregate of such transactions entered into by the assessee in a tax

year exceeds a sum of twenty crore rupees

165 1) The arm’s length price in relation to an international transaction or

specified domestic transaction shall be determined by any of the following methods,

being the most appropriate method––

Meaning of

specified

domestic

WUDQVDFWLRQ

Determination of

arm’s length

price

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 193

194

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

a) comparable uncontrolled price method;

b) resale price method;

c) cost plus method;

d) profit split method;

e) transactional net margin method;

f) such other method as may be SUHVFULEHGE\WKH%RDUG

2) The most appropriate method referred to in sub-VHFWLRQ1) shall be,––

a) selected having regard to the nature of transaction or class of

transaction or class of associated enterprise or functions performed by such

enterprises or such other relevant factors as the Board may prescribe;

b) applied for determination of arm’s length price in such manner as

may be SUHVFULEHG

3) The arm’s length price shall be—

a) in case, only one price is determined by the most appropriate

method,––

i) the price determined by that method; or

ii) the price at which the international transaction or specified

domestic transaction has actually been undertaken, if the variation

between the arm’s length price so determined and price at which the

international transaction or specified domestic transaction has actually

been undertaken does not exceed such percentage not exceeding 3% of

the latter, notified by the Central Government in this behalf; or

b) in case, more than one price is determined by the most appropriate

method, the price determined in such manner as may be SUHVFULEHG

4) The Assessing Officer, during the course of any proceeding for the

assessment of income, may proceed to determine the arm’s length price in relation

to an international transaction or specified domestic transaction as per

sub-VHFWLRQV12DQG3) if, on the basis of material or information or document

in his possession, he is of the opinion that—

a) the price charged or paid in an international transaction or specified

domestic transaction has not been determined as per sub-VHFWLRQV12DQG3); or

b) any information and document relating to an international transaction

or specified domestic transaction has not been kept and maintained by the

assessee as per section 1711); or

c) the information or data used in determination of the arm’s length

price by the assessee is not reliable or correct; or

d) the assessee has failed to furnish, within the specified time, any

information or document which he was required to furnish by a notice issued

under section 1712)ĂŶĚ3)

5) The Assessing Officer, before determining the arm’s length price under

sub-VHFWLRQ4), shall issue a notice calling upon the assessee to show cause, on the

date and time to be specified in the notice, why the arm’s length price should not be

determined on the basis of material or information or document in the possessionof

the Assessing Officer

6) The Assessing Officer, on determination of arm’s length price under

sub-VHFWLRQ4), may compute the total income of the assessee having regard to the

arm’VOHQJWKSULFHVRGHWHUPLQHG

194 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

7) No deduction shall be allowed under section 144 or under Chapter VIII in

respect of income by which the total income of the assessee is enhanced after

computation of income under sub-VHFWLRQ6

8) When the total income of an associated enterprise is computed under

sub-VHFWLRQ6) on determination of the arm’s length price paid to another associated

enterprise from which tax has been deducted or was deductible under the provisions of

Chapter XIX-B, the income of the other associated enterprise shall not be

recomputed by reason of such determination of arm’s length price in the case of the first

PHQWLRQHGHQWHUSULVH

166 1) Where,—

a) the assessee has entered into an international transaction or specified

domestic transaction in any tax year; and

b) the Assessing Officer considers it necessary or expedient so to do,

he may refer the determination of the arm’s length price in relation to such

transaction to the Transfer Pricing Officer, with the previous approval of the

3ULQFLSDO&RPPLVVLRQHURU&RPPLVVLRQHU

2) No reference under sub-VHFWLRQ1) for computation of the arm’s length price

in relation to an international transaction or a specified domestic transaction shall be

made, if the Transfer Pricing Officer has declared that option exercised by the assessee

in sub-VHFWLRQ9) in relation to such transaction is valid for VXFKWD[\HDU

3) If any reference for an international transaction or a specified domestic

transaction under sub-VHFWLRQ1), in respect of a tax year, for which the option is

declared valid under sub-VHFWLRQ9) is made before or after such declaration by the

Transfer Pricing Officer, the provisions of sub-VHFWLRQ1) shall have the effect as if

QRUHIHUHQFHLVPDGHIRUVXFKWUDQVDFWLRQ

4) Where a reference is made under sub-VHFWLRQ1), the Transfer Pricing

Officer shall serve a notice on the assessee requiring him to produce or cause to be

produced on a date specified therein, any evidence on which the assessee may rely

in support of the determination made by him of the arm’s length price in relation to

VXFKWUDQVDFWLRQ

5) Where,—

a) any international transaction or specified domestic transaction, other

than an international transaction or a specified domestic transaction referred

under sub-VHFWLRQ1); or

b) any international transaction or a specified domestic transaction that

the assessee has not included in the report under section 172,

comes to the notice of the Transfer Pricing Officer during the course of the

proceedings before him, the provisions of this Chapter shall apply as if such

transaction is a transaction referred to him under sub-VHFWLRQ1

6) On the date specified in the notice under sub-VHFWLRQ 4), or as soon

thereafter as may be,––

a) after hearing such evidence as the assessee may produce, including

any information or documents referred to in section 1712);

b) after considering such evidence as the Transfer Pricing Officer may

require on any specified points; and

c) after taking into account all relevant materials which he has gathered,

Reference to

Transfer Pricing

Officer

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 195

196

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

the Transfer Pricing Officer shall, by order in writing, determine the arm’s length

price in relation to the international transaction or specified domestic transaction as

per section 1654) and send a copy of his order to the Assessing Officer and

WRWKHDVVHVVHH

7) Where a reference was made under sub-VHFWLRQ 1), an order under

sub-VHFWLRQ6) may be made at any time sixty days before the expiry of the limitation

period referred to in section 286 or 296, for making the order of assessment or

UHDVVHVVPHQWRUUHFRPSXWDWLRQRUIUHVKDVVHVVPHQW

8) If the period of limitation available to the Transfer Pricing Officer for

making an order under sub-VHFWLRQ6) is less than sixty days in the circumstances

referred to in section 2863)bRUh),such remaining period shall be extended to

sixty days and the aforesaid period of limitation shall be deemed to have been

H[WHQGHGDFFRUGLQJO\

9) The arm’s length price, being determined in relation to the international

transaction or the specified domestic transaction under sub-VHFWLRQ6) for any tax

year shall apply to similar international transaction or specified domestic transaction

for the two consecutive tax years immediately following such tax year, on fulfilment

of the following conditions namely:––

a) the assessee exercises an option or options to the above effect for the

said two consecutive tax years;

b) such option or options are exercised in such form, manner and within

such period as may be prescribed; and

c) the Transfer Pricing Officer shall, within one month from the end of

the month in which such option or options are exercised, by an order in

writing, declare that such option or options are valid subject to the conditions,

as may be SUHVFULEHG

10) The provisions of sub-VHFWLRQ9) shall not apply to any proceedings

under Chapter XVI-%

11) On receipt of the order under sub-VHFWLRQ6), the Assessing Officer shall

compute the total income of the assessee under section 1656) in conformity with

the arm’s length price DVVRGHWHUPLQHGE\WKH7UDQVIHU3ULFLQJ2IILFHU

12) Irrespective of anything contained in sub-VHFWLRQ11), where the Transfer

Pricing Officer has declared an option exercised by the assessee as valid option

under sub-VHFWLRQ9), he shall examine and determine the arm’s length price in

relation to such similar transaction for two consecutive tax years immediately

following such tax year, in the order referred to in sub-VHFWLRQ6) and on receipt of

such order, the Assessing Officer shall proceed to recompute the total income

of the assessee for the said two consecutive tax years as per the provisions of

section 2882)

13) For rectifying any mistake apparent from the record, the Transfer Pricing

Officer,––

a) may amend any order passed by him under sub-VHFWLRQ6), and the

provisions of section 287 shall, so far as may be, apply accordingly; and

b) shall send a copy of such order to the Assessing Officer who shall

thereafter amend the order of assessment in conformity with such order of the

7UDQVIHU3ULFLQJ2IILFHU

14) The Transfer Pricing Officer may exercise all or any of the powers

specified in section 2461a WR d) or 2521a) or 253 for the purposes of

determining the arm’s length price under this section.

196 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

15) If any difficulty arises in giving effect to the provisions of

sub-VHFWLRQV9DQG12), the Board may, with the prior approval of the Central

*RYHUQPHQWLVVXHJXLGHOLQHVIRUWKHSXUSRVHRIUHPRYLQJVXFKGLIILFXOW\

16) Every guideline issued by the Board under sub-VHFWLRQ15) shall be laid

before each House of Parliament while it is in session for a total period of thirty

days which may be comprised in one session or in two or more successive sessions,

and if, before the expiry of the session immediately following the session or the

successive sessions aforesaid, both houses agree in making any modification in such

guideline or both Houses agree that the guideline, should not be issued, the guideline

shall thereafter have effect only in such modified form or be of no effect, as the case

may be; so, however, that any such modification or annulment shall be without

prejXGLFHWRWKHYDOLGLW\RIDQ\WKLQJSUHYLRXVO\GRQHXQGHUWKDWJXLGHOLQH

17) For the purposes of this section, “Transfer Pricing Officer” means a Joint

Commissioner or Deputy Commissioner or Assistant Commissioner authorised by

the Board to perform all or any of the functions of an Assessing Officer specified in

sections 165 and 171 LQUHVSHFWRIDQ\SHUVRQRUFODVVRISHUVRQV

167 1) The determination of—

a) LQFRPHUHIHUUHGWRLQVHFWLRQ2); or

b) arm’s length price under section 165 or 166,

VKDOOEHVXEMHFWWRVDIHKDUERXUUXOHV

2) For the purposes of sub-VHFWLRQ1WKH%RDUGPD\PDNHUXOHVIRUVDIHKDUERXU

3) For the purposes of this section, “safe harbour” means circumstances in

which the income-tax authorities shall accept,––

a) the transfer price; or

b) the income, deemed WRDFFUXHRUDULVHXQGHUVHFWLRQ2),

GHFODUHGE\WKHDVVHVVHH

168 1) The Board, with the approval of the Central Government, may enter

into an advance pricing agreement with any person, determining the—

a) arm’s length price or specifying the manner in which the arm’s length

price is to be determined, in relation to an international transaction to be

entered into by that person;

b LQFRPHUHIHUUHGWRLQVHFWLRQ2), or specifying the manner in which the

said income is to be determined, as is reasonably attributable to the operations

carried out in India by or on behalf of that person, being a non-UHVLGHQW

2) The manner of determination of the arm’s length price referred to in

sub-VHFWLRQ 1a) or the income referred to in sub-section b) may include,

respectively,––

a) the methods referred to in section 1651); or

b) the methods provided by rules made under this Act,

ZLWKVXFKDGMXVWPHQWVRUYDULDWLRQVDVPD\EHQHFHVVDU\RUH[SHGLHQWVRWRGR

3) Irrespective of anything contained in section 165 or 166 or the methods

provided by rules made under this Act,––

a) the arm’s length price of any international transaction; or

b) the income referred to in sub-VHFWLRQ1b),

in respect of which the advance pricing agreement has been entered into, shall be

determined as per WKHDGYDQFHSULFLQJDJUHHPHQWVRHQWHUHG

Power of Board

to make safe

KDUERXUUXOHV

Advance pricing

DJUHHPHQW

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 197

198

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Effect to

advance pricing

DJUHHPHQW

4) The agreement referred to in sub-VHFWLRQ1) shall be valid for such period

not exceeding five consecutive tax years as VSHFLILHGLQWKHDJUHHPHQW

5) The advance pricing agreement entered into shall be binding—

a) on the person in whose case, and in respect of the transaction in

relation to which, the agreement has been entered into; and

b) on the Principal Commissioner or Commissioner, and the income-tax

authorities subordinate to him, in respect of the said person and the said transaction

6) The agreement referred to in sub-VHFWLRQ1) shall not be binding if there is

a change in law or facts having bearing on the agrHHPHQWVRHQWHUHG

7) The Board may, with the approval of the Central Government, by an order,

declare an agreement to be void ab initio, if it finds that the agreement has been

REWDLQHGE\WKHSHUVRQE\IUDXGRUPLVUHSUHVHQWDWLRQRIIDFWV

8) Upon declaring the agreement void ab initio,—

a) all the provisions of this Act shall apply to the person as if such

agreement had never been entered into; and

b) irrespective of anything contained in the Act, the period beginning

with the date of such agreement and ending on the date of order under

sub-VHFWLRQ7) shall be excluded for the purpose of computing any period of

limitation under this Act and if immediately after the exclusion of the aforesaid

period, the period of limitation, referred to in any provision of this Act, is less

than sixty days, such remaining period shall be extended to sixty days and the

aforesaid period of limitation shall be deemed WREHH[WHQGHGDFFRUGLQJO\

9) The agreement referred to in sub-VHFWLRQ1), may, subject to such conditions,

procedure and manner as may be prescribed, also provide for determining the—

a) arm’s length price or specify the manner in which the arm’s length

price shall be determined in relation to the international transaction entered

into by the person;

b LQFRPHUHIHUUHGWRLQVHFWLRQ2), or specifying the manner in which

the said income is to be determined, as is reasonably attributable to the

operations, transactions and activities carried out in India by or on behalf of

that non-resident person,

during any period not exceeding four tax years preceding the first of the tax years

referred to in sub-VHFWLRQ 4) and the arm’s length price of such international

transaction or the income of such person shall be determined in accordance with the

VDLGDJUHHPHQW

10) Where an application is made by a person for entering into an agreement

referred to in sub-VHFWLRQ1), the proceedings shall be deemed to be pending in the

case of the person for the purposes of this Act till such agreement is entered into, or

such proceedings are closed as may be SUHVFULEHG

11) For the purposes of this section, the Board may prescribe a scheme

specifying therein the manner, form, procedure and any other matter in respect of

the advaQFHSULFLQJDJUHHPHQW

169 1) If a return of income for any tax year covered by an advance pricing

agreement has been furnished by any person, before the date of entering into the

said agreement, he shall, irrespective of anything to the contrary contained in

section 263, furnish a modified return, in accordance with and limited to the

agreement, in respect of such tax years, within three months from the end of the

PRQWKLQZKLFKWKHDJUHHPHQWZDVHQWHUHGLQWR

198 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

2) Except as provided in this section, all other provisions of this Act shall apply

accordingly as if the modified return is a return furnished under section 263

3) Where a modified return is furnished under sub-VHFWLRQ1), and assessment

or reassessment proceedings, in respect of a tax year to which the agreement applies,

were initiated before the filing of such return then,––

a) if such proceedings have been completed before the filing of such

return, the Assessing Officer shall pass an order modifying the total income of

the relevant tax year; or

b) if such proceedings are pending on the date of filing of modified

return, the Assessing Officer shall proceed to complete them,

as per the agreement after taking into consiGHUDWLRQWKHPRGLILHGUHWXUQVRIXUQLVKHG

4) Irrespective of anything contained in section 275 or 286 or 296,—

a) the order in respect of a case falling under sub-VHFWLRQ3a) shall be

passed within one year from the end of the financial year in which the modified

return under sub-VHFWLRQ1) is furnished;

b) in respect of a case falling under sub-VHFWLRQ3b), the period of limitation

as provided in section 275 or 286 or section 296 for completion of pending

assessment or reassessment proceedLQJVVKDOOEHH[WHQGHGE\WZHOYHPRQWKV

5) For the purposes of this section,—

a) “agreement” means an agreement referred to in section 1);

b) the assessment or reassessment proceedings for a tax year shall be

deemed to have been completed where—

i) an assessment or reassessment order has been passed; or

ii) no notice has been issued under section 2708) till the expiry

of the limitation period SURYLGHGXQGHUWKHVDLGVHFWLRQ

170 1) An assessee shall make a secondary adjustment in every case where

primary adjustment of one crore rupees or more to the transfer price—

a) has been made by the assessee on his own in his return of income;

b) made by the Assessing Officer has been accepted by him;

c) is determined by an advance pricing agreement entered into by him

under section 168;

d) is made as per the safe harbour rules made under section 167; or

e) is arising as a result of resolution of an assessment by way of the

mutual agreement procedure under an agreement entered into under

VHFWLRQIRUDYRLGDQFHRIGRXEOHWD[DWLRQ

2) The excess money or part thereof available with its associated enterprise shall

be deemed to be an advance made by the assessee to such associated enterprise if––

a) as a result of primary adjustment to the transfer price, there is an

increase in the total income or reduction in the loss, as the case may be, of the

assessee; and

b) such excess money or part thereof is not repatriated to India within

the time as may be SUHVFULEHG

3) The excess money or part thereof referred to in sub-VHFWLRQ2) may be

repatriated from any of the associated enterprises of the assessee which is not a

UHVLGHQWLQ,QGLD

Secondary

adjustment in

FHUWDLQFDVHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 199

200

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Maintenance,

keeping and

furnishing of

information and

document by

FHUWDLQSHUVRQV

4) The interest on advance as referred to in sub-VHFWLRQ2) shall be computed

in such manner as may be SUHVFULEHG

5) Without prejudice to the provisions of sub-section 2), where the excess

money or part thereof has not been repatriated within the prescribed time, the

assessee may, at his option, pay additional income-tax at the rate of 18% on such

H[FHVVPRQH\RUSDUWWKHUHRIDVWKHFDVHPD\EH

6) The tax on the excess money or part thereof so paid by the assessee under

sub-VHFWLRQ5) shall be treated as the final payment of tax in respect of the excess

money or part thereof not repatriated and no further credit thereof shall be claimed

by the assessee or by any otKHUSHUVRQLQUHVSHFWRIWD[VRSDLG

7) Deduction under any other provision of this Act shall not be allowed to the

assessee in respect of the amount on which tax has been paid as per sub-VHFWLRQ5

8) In a case where the additional income-tax referred to in sub-VHFWLRQ5) is

paid by the assessee, he shall not be required to make secondary adjustment under

sub-VHFWLRQ1) and compute interest under sub-VHFWLRQ4) from the date of payment

RIVXFKWD[

9) For the purposes of this section,—

a) “arm’s length price” shall have the meaning assigned to it in

VHFWLRQa);

b) “excess money” means the difference between the arm’s length price

determined in primary adjustment and the price at which the international

transaction has actually been undertaken;

c) “primary adjustment” to a transfer price, means the determination of

transfer price as per the arm’s length principle resulting in an increase in the

total income or reduction in the loss, as the case may be, of the assessee;

d) “secondary adjustment” means an adjustment in the books of account

of the assessee and its associated enterprise to reflect that the actual

allocation of profits between the assessee and its associated enterprise are

consistent with the transfer price determined as a result of primary

adjustment, thereby removing the imbalance between cash account and

DFWXDOSURILWRIWKHDVVHVVHH

171 1) Every person, who––

a) has entered into an international transaction or specified domestic

transaction; or

b) is a constituent entity of an international group,

shall keep and maintain such information and document in respect thereof and for

such period and in such manner, as may be SUHVFULEHG

2 7KH$VVHVVLQJ2IILFHURUWKH&RPPLVVLRQHU$SSHDOVPD\GXULQJDQ\

proceeding under this Act, require any person referred to in sub-VHFWLRQ1a) to

furnish any information or document referred therein within ten days from the date

of rHFHLSWRIDQRWLFHLVVXHGLQWKLVUHJDUG

)RU the purposes of sub-VHFWLRQ 2), the Assessing Officer or the

&RPPLVVLRQHU$SSHDOVPD\RQDQDSSOLFDWLRQPDGHE\VXFKSHUVRQH[WHQGWKH

period of ten days by a further period not exceeding thirty GD\V

200 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

4) Every person referred to in sub-VHFWLRQ1b) shall furnish the information

and document referred to in sub-VHFWLRQ 1) to the authority prescribed under

VHFWLRQ1), in such manner, on or before such date, as may be SUHVFULEHG

5) For the purposes of this section,—

a) “constituent entity” shall have the meaning assigned to it in

VHFWLRQ10d);

b) “international group” shall have the meaning assigned to it in

VHFWLRQ10g

172 (YHU\ SHUVRQ ZKR KDV HQWHUHG LQWR DQ LQWHUQDWLRQDO WUDQVDFWLRQ RU

specified domestic transaction during a tax year shall obtain a report from an

accountant and furnish such report on or before the specified date in the prescribed

form duly signed and verified in the manner as may be prescribed by such

accountant and setting forth such particulars as may be SUHVFULEHG

173 For the purposes of this section and sections 161, 162, 163, 165, 171 and

172, unless the context otherwise requires,—

a) “arm’s length price” means a price which is applied or proposed to

be applied in a transaction between persons other than associated enterprises,

in uncontrolled conditions;

b) “enterprise” means a person (including a permanent establishment of

such person) who is, or has been, or is proposed to be, engaged in any activity

relating to––

i) the production, storage, supply, distribution, acquisition or

control of articles or goods; or

ii) know-how, patents, copyrights, trade-marks, licences, franchises

or any other business or commercial rights of similar nature; or

iii) any data, documentation, drawing or specification relating to

any patent, invention, model, design, secret formula or process of which

the other enterprise is the owner or in respect of which the other

enterprise has exclusive rights; or

iv) provision of services of any kind; or

v) carrying out any work in pursuance of a contract; or

vi) investment or providing loan; or

vii) business of acquiring, holding, underwriting or dealing with

shares, debentures or other securities of any other body corporate,

whether such activity or business is carried on, directly or through one or more

of its units or divisions or subsidiaries, or whether such unit or division or

subsidiary is located at the same place where the enterprise is located or at a

different place or places;

c) “permanent establishment”, referred to in clause (b), includes a fixed

place of business through which the business of the enterprise is wholly or

partly carried on;

Report from an

accountant to be

furnished by

persons entering

into international

transaction or

specified

domestic

WUDQVDFWLRQ

Definitions of

certain terms

relevant to

determination of

arm’s length

SULFHHWF

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 201

202

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Avoidance of

income-tax by

transactions

resulting in

transfer of

income to

non-UHVLGHQWV

d) “specified date” means the date one month before the due date for

furnishing the return of income under section 263 1) for the relevant tax year;

e) “transaction” includes an arrangement, understanding or action in

concert,—

i) whether or not such arrangement, understanding or action is

formal or in writing; or

ii) whether or not such arrangement, understanding or action is

LQWHQGHGWREHHQIRUFHDEOHE\OHJDOSURFHHGLQJ

174 1) Where there is a transfer of assets before and after the commencement

of this Act, and by virtue or in consequence of it,––

a) either alone; or

b) in conjunction with associated operations,

any income becomes payable to a non-UHVLGHQWWKHSURYLVLRQVRIWKLVVHFWLRQVKDOODSSO\

2) If any person (“first mentioned person”), by means of any transfer referred

to in sub-VHFWLRQ 1), either alone or in conjunction with associated operations,

acquires any rights,––

a) by virtue of which he has, within the meaning of this section, power

to enjoy, whether forthwith or in the future, any income of a non-resident; and

b) such income would have been chargeable to income-tax if it were

such first mentioned person’s income,

then, that income shall, whether or not it would have been chargeable to income-tax

under any other provisions of this Act, be deemed to be the income of such first

PHQWLRQHGSHUVRQIRUDOOWKHSXUSRVHVRIWKLV$FW

3) If any such first mentioned person receives or is entitled to receive any

capital sum,––

a) the payment of which is in any way connected with the transfer or

any associated operations; and

b) whether before or after any such transfer,

then any income, which has become the income of a non-resident by virtue or in

consequence of such transfer, either alone or in conjunction with associated

operations, shall be deemed to be the income of such first mentioned person for all

the purposes of this Act, whether or not it would have been chargeable to

income-WD[XQGHUDQ\RWKHUSURYLVLRQVRIWKLV$FW

4) Where any person has been charged to income-tax on any income deemed

to be his under the provisions of this section and that income is subsequently

received by him, whether as income or in any other form, it shall not again be

deemed WRIRUPSDUWRIKLVLQFRPHIRUWKHSXUSRVHVRIWKLV$FW

5) The provisions of this section shall not apply if the first mentioned person in

sub-VHFWLRQ2RU3) shows to the satisfaction of the Assessing Officer that—

a) neither the transfer nor any associated operation had for its purpose

or for one of its purposes the avoidance of liability to taxation; or

b) the transfer and all associated operations were bona fide commercial

WUDQVDFWLRQVDQGZHUHQRWGHVLJQHGIRUWKHSXUSRVHRIDYRLGLQJOLDELOLW\WRWD[DWLRQ

6) In this section,—

a) references to assets representing any assets, income or accumulations

of income include references to shares in or obligation of any company to

which, or obligation of any other person to whom, those assets, that income or

those accumulations are or have been transferred;

b) any body corporate incorporated outside India shall be treated as if it

were a non-resident;

202 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

c) a person shall be deemed to have power to enjoy the income of a

non-resident if—

i) the income is in fact so dealt with by any person as to be

calculated at some point of time and, whether in the form of income or

not, to enure for the benefit of the first mentioned person in

sub-VHFWLRQ2) RU3); or

ii) the receipt or accrual of the income operates to increase the

value to such first mentioned person of any assets held by him or for his

benefit; or

iii) such first mentioned person receives or is entitled to receive at

any time any benefit provided or to be provided out of that income or

out of moneys which are or shall be available for the purpose by reason

of the effect or successive effects of the associated operations on that

income and assets which represent that income; or

iv) such first mentioned person has power by means of the

exercise of any power of appointment or power of revocation or

otherwise to obtain for himself, whether with or without the consent of

any other person, the beneficial enjoyment of the income; or

v) such first mentioned person is able, in any manner whatsoever and

whether directly or indirectly, to control the application of the income;

d) in determining whether a person has power to enjoy income, regard

shall be had to the substantial result and effect of the transfer and any

associated operations, and all benefits which may at any time accrue to such

person as a result of the transfer and any associated operations shall be taken

LQWRDFFRXQWLUUHVSHFWLYHRIWKHQDWXUHRUIRUPRIWKHEHQHILWV

7) For the purposes of this section,—

a) “assets” includes property or rights of any kind and “transfer” in

relation to rights includes the creation of those rights;

b) “associated operation” in relation to any transfer, means an operation

of any kind effected by any person in relation to—

i) any of the assets transferred; or

ii) any assets representing, whether directly or indirectly, any of

the assets transferred; or

iii) the income arising from any such assets; or

iv) any assets representing, whether directly or indirectly, the

accumulations of income arising from any such assets;

c) “benefit” includes a payment of any kind;

d) “capital sum” means—

i) any sum paid or payable by way of a loan or repayment of a

loan; and

ii) any other sum paid or payable otherwise than as income, being

a sum, which is not paid or payable for full consideration in money or

money’VZRUWK

175 1:KHUHWKHRZQHURIDQ\VHFXULWLHVKHUHLQreferred to as “the owner”)

sells or transfers such securities and buys back or reacquires them or buys or

acquires any similar securities, any interest that becomes payable in respect of such

securities,––

a) is receivable by a person other than the owner, shall be deemed, for

all purposes of this Act, to be the income of the owner; and

Avoidance of

tax by certain

transactions in

VHFXULWLHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 203

204

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

b) shall not be the income of the other person,

irrespective of whether it would have been chargeable to income-tax under any other

SURYLVLRQRIWKLV$FW

2) Where similar securities as referred to in sub-VHFWLRQ1) are bought or

acquired, the owner shall not be under greater liability to income-tax than he would

LIWKHRULJLQDOVHFXULWLHVKDGEHHQERXJKWEDFNRUUHDFTXLUHG

3) If any person has had a beneficial interest in any securities at any time

during a tax year, and the result of any transaction relating to such securities or the

income from it is that, in respect of such securities within such year,––

a) either no income is received by him; or

b) the income received by him is less than what would have been if the

income from such securities had accrued from day to day and been

apportioned accordingly,

the income from such securities for such year shall be deemed to be the income of

VXFKSHUVRQ

4) The provisions of sub-VHFWLRQV12DQG3) shall not apply if the owner,

or the person who has had a beneficial interest in the securities, proves to the

satisfaction of the Assessing Officer that—

a) there has been no avoidance of income-tax; or

b) the avoidance of income-tax was exceptional and not systematic and

also that in any of the three preceding years any avoidance of income-tax by a

transaction of the nature referred to in sub-VHFWLRQV12RU3) was not there

LQKLVFDVH

5) If a person carrying on a business which consists wholly or partly in

dealing in securities, buys or acquires any securities and sells back or retransfers the

securities, then, if the result of the transaction is that interest in respect of the

securities receivable by him is not deemed to be his income by reason of the

provisions contained in sub-VHFWLRQ1), no account shall be taken of the transaction

in computing the profits arising from or loss sustained in the business for any of the

SXUSRVHVRIWKLV$FW

6) The provisions of sub-VHFWLRQ5) shall have effect, subject to any necessary

modifications, as if references to selling back or retransferring the securities

LQFOXGHGUHIHUHQFHVWRVHOOLQJRUWUDQVIHUULQJVLPLODUVHFXULWLHV

7) The Assessing Officer may, by notice in writing, require any person to

provide within specified time, which shall not be less than twenty-eight days, details

in respect of all securities of which such person was the owner or in which he had a

beneficial interest at any time during the period specified in the notice, for the

purposes of this section and for the purpose of discovering whether income-tax has

been ERUQHLQUHVSHFWRIWKHLQWHUHVWRQDOOWKRVHVHFXULWLHV

8) If—

a) any person buys or acquires any securities or unit within three

months before the record date;

b) such person sells or transfers—

i) such securities within three months after such date; or

ii) such unit within nine months after such date;

c) the dividend or income on such securities or unit received or

receivable by such person is exempt,

then, the loss, if any, arising to him on account of such purchase and sale of

securities or unit, to the extent such loss does not exceed the dividend or income

received or receivable on such securities or unit, shall be ignored for the purposes

RIFRPSXWLQJKLVLQFRPHFKDUJHDEOHWRWD[

204 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

9) If—

a) any person buys or acquires any securities or unit within three

months before the record date;

b) such person is allotted additional securities or unit without any

payment on the basis of holding of such securities or unit on such date;

c) such person sells or transfers all or any of the securities or unit

UHIHUUHGWRLQFODXVHa) within nine months after such date, while continuing

WRKROGDOORUDQ\RIWKHDGGLWLRQDOVHFXULWLHVRUXQLWUHIHUUHGWRLQFODXVHb),

then, the loss, if any, arising to him on account of such purchase and sale of all or

any of such securities or unit shall be ignored for the purposes of computing his

LQFRPHFKDUJHDEOHWRWD[

10) Irrespective of any other provision of this Act, loss ignored as per

sub-VHFWLRQ9) shall be deemed to be the cost of purchase or acquisition of such

additional securities or unit referred to in sub-VHFWLRQ9b) as are held by him on

WKHGDWHRIVXFKVDOHRUWUDQVIHU

11) For the purposes of this section,—

a) “interest” includes a dividend;

b) “record date” means such date as may be fixed by—

i) a company;

ii) a Mutual Fund or the Administrator of the specified

undertaking or the specified company, where—

A) “Administrator” means the Administrator as referred to

in cODXVHaRIVHFWLRQRIWKH8QLW7UXVWRI,QGLD7UDQVIHURI

Undertaking and Repeal) Act, 2002;

B) “specified company” means a company as referred to in

FODXVH h RI VHFWLRQ RI WKH 8QLW 7UXVW RI ,QGLD 7UDQVIHU RI

Undertaking and Repeal) Act, 2002; or

iii) a business trust defined in section 21); or

iv DQ$OWHUQDWLYH,QYHVWPHQW)XQGGHILQHGLQUHJXODWLRQ1b)

RIWKH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD$OWHUQDWLYH,QYHVWPHQW

Funds) Regulations, 2012, made under the Securities and Exchange

Board of India Act, 1992,

for the purposes of entitlement of the holder of the securities or units to receive

dividend, income, or additional securities or units without any consideration;

c) “securities” includes stocks and shares;

d) securities shall be deemed to be similar if they entitle their holders to

the same rights against the same persons as to capital and interest and the same

remedies for the enforcement of those rights, irrespective of any difference in

the total nominal amounts of the respective securities or in the form in which

they are held or in the manner in which they can be transferred;

e) “unit” shall mean,—

i) a unit of a business trust defined in section 21);

ii) a unit defined in section 2083c); or

iii) beneficial interest of an investor in an Alternative Investment Fund,

UHIHUUHGWRLQFODXVHbiv), and shall include shares or partnership interests

176 1) The Central Government may, by notification specify any country or

territory outside India, as a notified jurisdictional area in relation to transactions

entered into by any assessee, having regard to the lack of effective exchange of

LQIRUPDWLRQZLWKVXFKMXULVGLFWLRQ

Special measures

in respect of

transactions with

persons located

in notified

jurisdictional

DUHD

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 205

206

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

2) Irrespective of anything contrary in this Act, if an assessee enters into a

transaction where one of the parties to the transaction is a person located in a notified

jurisdictional area, then,—

a) all the parties to the transaction shall be deemed to be associated

enterprises within the meaning of section 162;

b) any transaction of the nature described in sections 1631DQG2)

shall be deemed to be an international transaction within the meaning of

section 163,

and the provisions of sections 161, 162, 163, 165 except the benefit of variation

specified in sections 1653aii)), 166, 167, 171, 172 and 173 shall apply

DFFRUGLQJO\

3) Irrespective of anything to the contrary in this Act, no deduction shall

be allowed—

a) for any payment made to any financial institution located in a notified

jurisdictional area, unless the assessee furnishes an authorisation in the

prescribed form authorising the Board or any other income-tax authority

acting on its behalf to seek relevant information from the said financial

institution on behalf of such assessee; and

b IRU DQ\ RWKHU H[SHQGLWXUH RU DOORZDQFH LQFOXGLQJ GHSUHFLDWLRQ

arising from the transaction with a person located in a notified jurisdictional

area, unless the assessee maintains such other documents and furnishes such

information as may be SUHVFULEHGLQWKLVEHKDOI

4) Irrespective of anything to the contrary in this Act, if, in any tax year, the

assessee has received or credited any sum from any person located in a notified

jurisdictional area and—

a) the assessee does not provide any explanation about the source of the

said sum in the hands of such person or in the hands of the beneficial owner

LIVXFKSHUVRQLVQRWWKHEHQHILFLDORZQHURIWKHVDLGVXPRU

b) the explanation provided by the assessee, in the opinion of the

Assessing Officer, is not satisfactory,

then such sum shall be deemed WREHWKHLQFRPHRIWKHDVVHVVHHIRUWKDWWD[\HDU

5) Irrespective of anything to the contrary in this Act, if any person located

in a notified jurisdictional area is entitled to receive any sum or income or amount

on which tax is deductible under Chapter XIX-B, the tax shall be deducted at the

highest of the following rates––

a) at the rate or rates in force;

b) at the rate specified in the relevant provisions of this Act;

c DWWKHUDWHRI

6) For the purposes of this section,—

a) “person located in a notified jurisdictional area” shall include,—

i) a person who is resident of the notified jurisdictional area;

ii) a person, not being an individual, which is established in the

notified jurisdictional area; or

iii) a permanent establishment of a person not falling in sub-FODXVHi)

RUii), in the notified jurisdictional area;

b) “permanent establishment” shall have the meaning assigned to it in

section c);

c) “transaction” shall have meaning assigned to it in section 173e

206 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

177 1) Irrespective of anything contrary in this Act, any expenditure by way

of interest or similar payment in respect of excess interest, as specified in

sub-VHFWLRQ4), shall not be deductible in computation of income chargeable under

the head “Profits and gains of business or profession”, if,—

a) it is paid or payable by an Indian company or a permanent

establishment of a foreign company in India, in respect of any debt issued by

an associated enterprise which is a non-resident; and

b) the sum of such expenditure in a tax year exceeds one crore rupees

2) Where a lender, not being an associated enterprise, has issued a debt

referred to in sub-VHFWLRQ1), such debt shall be deemed to have been issued by an

associated enterprise if an associated enterprise has—

a) provided an implicit or explicit guarantee to the lender in respect of

such debt; or

b GHSRVLWHGDFRUUHVSRQGLQJDQGPDWFKLQJIXQGVZLWKVXFKOHQGHU

3) The provisions of this section shall not apply to—

a) interest paid in respect of a debt issued by a lender which is a permanent

establishment in India of a non-resident engaged in the business of banking;

b) an Indian company or a permanent establishment of a foreign

company which is engaged in the business of banking or insurance or a

Finance Company located in any International Financial Services Centre, or

such class of non-banking financial companies as may be notified by the

&HQWUDO*RYHUQPHQWLQWKLVEHKDOI

4) For the purposes of sub-VHFWLRQ1), the expression “excess interest” means

the total interest paid or payable in excess of 30% of earnings before interest, taxes,

depreciation and amortisation of the borrower in the tax year or the interest paid or

SD\DEOHWRDVVRFLDWHGHQWHUSULVHVIRUWKDWWD[\HDUZKLFKHYHULVOHVV

5) Interest expenditure not wholly deducted against income under the head

“Profits and gains of business or profession” for any tax year shall be—

a) carried forward to the following tax year or years; and

b) allowed as a deduction against the profits and gains, if any, of any

business or profession carried on by it and assessable for such tax year, to the

extent of maximum allowable interest expenditure as per sub-VHFWLRQ4

6) The interest expenditure referred to in sub-VHFWLRQ5) shall not be carried

forward for more than eight tax years immediately succeeding the tax year for which

WKHH[FHVVLQWHUHVWH[SHQGLWXUHZDVILUVWFRPSXWHG

7) For the purposes of this section,—

a) “debt” means any loan, financial instrument, finance lease, financial

derivative, or any arrangement that gives rise to interest, discounts or other

finance charges that are deductible in the computation of income chargeable

under the head “Profits and gains of business or profession”;

b) “Finance Company” means a finance company as defined in

UHJXODWLRQ1e) of the International Financial Services Centres Authority

)LQDQFH&RPSDQ\5HJXODWLRQVPDGHXQGHUWKH,QWHUQDWLRQDO)LQDQFLDO

Services Centres Authority Act, 2019 and which satisfies such conditions and

carries on such activities, as may be prescribed;

c) “permanent establishment” shall have the meaning assigned to it in

section c

Limitation on

interest

deduction in

certain FDVHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 207

208

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Applicability of

General

Anti-Avoidance

5XOH

Impermissible

avoidance

DUUDQJHPHQW

Arrangement to

lack commercial

VXEVWDQFH

CHAPTER XI

GENERAL ANTI-AVOIDANCE RULE

178 1) Irrespective of anything contained in this Act, an arrangement entered

into by an assessee may be declared to be an impermissible avoidance arrangement

and the consequence in relation to tax arising from it may be determined subject to

WKHSURYLVLRQVRIWKLV&KDSWHU

2) The provisions of this Chapter may be applied to any step in, or a part of,

WKHDUUDQJHPHQWDVWKH\DUHDSSOLFDEOHWRWKHDUUDQJHPHQW

179 1) An impermissible avoidance arrangement means an arrangement, the

main purpose of which is to obtain a tax benefit, and it—

a) creates rights, or obligations, which are not ordinarily created

between persons dealing at arm’s length;

b) results, directly or indirectly, in the misuse, or abuse, of the

provisions of this Act;

c) lacks commercial substance or is deemed to lack commercial

substance under section 180, in whole or in part; or

d) is entered into, or carried out, by means, or in a manner, which are

not ordinarily employed for bona fide SXUSRVHV

2) An arrangement shall be presumed, unless it is proved to the contrary by

the assessee, to have been entered into, or carried out, for the main purpose of

obtaining a tax benefit, if the main purpose of a step in, or a part of, the arrangement

is to obtain a tax benefit, irrespective of the fact that the main purpose of the whole

DUUDQJHPHQWLVQRWWRREWDLQDWD[EHQHILW

180

1) An arrangement shall be deemed to lack commercial

substance, if––

a) the substance or effect of the arrangement as a whole, is inconsistent

with, or differs significantly from, the form of its individual steps or a part; or

b) it involves or includes—

i) round trip financing;

ii) an accommodating party;

iii) elements that have effect of offsetting or cancelling each other;

iv) a transaction which is conducted through one or more persons

and disguises the value, location, source, ownership or control of funds

which is the subject matter of such transaction;

c) it involves the location of an asset or of a transaction or of the place

of residence of any party which is without any substantial commercial purpose

RWKHUWKDQREWDLQLQJDWD[EHQHILWEXWIRUWKHSURYLVLRQVRIWKLV&KDSWHUIRUD

party; or

d) it does not have a significant effect upon the business risks or net

cash flows of any party to the arrangement apart from any effect attributable

WR WKH WD[ EHQHILW WKDW ZRXOG EH REWDLQHG EXW IRU WKH SURYLVLRQV RI WKLV

&KDSWHU

2) In sub-VHFWLRQ1), round trip financing includes any arrangement in which,

through a series of transactions—

208 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

a) funds are transferred among the parties to the arrangement; and

b) such transactions do not have any substantial commercial purpose

RWKHUWKDQREWDLQLQJWKHWD[EHQHILWEXWIRUWKHSURYLVLRQVRIWKLV&KDSWHU

without having any regard to—

A) whether or not the funds involved in the round trip financing can be

traced to any funds transferred to, or received by, any party in connection with

the arrangement;

B) the time, or sequence, in which the funds involved in the round trip

financing are transferred or received; or

C) the means by, or manner in, or mode through, which funds involved

LQWKHURXQGWULSILQDQFLQJDUHWUDQVIHUUHGRUUHFHLYHG

3) The following may be relevant but shall not be sufficient for determining

whether an arrangement lacks commercial substance or not:—

a) the period or WLPHIRUZKLFKWKHDUUDQJHPHQWLQFOXGLQJRSHUDWLRQV

therein) exists;

b) the fact of payment of taxes, directly or indirectly, under the

arrangement;

c) WKH IDFW WKDW DQ H[LW URXWH LQFOXGLQJ WUDQVIHU RI DQ\ DFWLYLW\ RU

business oURSHUDWLRQVLVSURYLGHGE\WKHDUUDQJHPHQW

181 1) If an arrangement is declared to be an impermissible avoidance

arrangement, then, the consequences, in relation to tax, of the arrangement,

including denial of tax benefit or a benefit under a tax treaty, shall be determined,

in the manner as deemed appropriate in the circumstances of the case

2) The consequences of an arrangement declared to be an impermissible

avoidance arrangement as referred to in sub-VHFWLRQ1) shall include but shall not

be limited to the following:—

a) disregarding, combining or recharacterising any step in, or a part or

whole of, the impermissible avoidance arrangement;

b) treating the impermissible avoidance arrangement as if it had not

been entered into or carried out;

disregarding any accommodating party or treating any

accommodating party and any other party as one and the same person;

d) deeming persons who are connected persons in relation to each other

to be one and the same person for the purposes of determining tax treatment

of any amount;

e) reallocating amongst the parties to the arrangement—

i) any accrual, or receipt, of a capital nature or revenue nature; or

ii) any expenditure, deduction, relief or rebate;

f) treating—

i) the place of residence of any party to the arrangement; or

ii) the situs of an asset or of a transaction,

at a place other than the place of residence, location of the asset or location of the

transaction as provided under the arrangement; or

g) considering or looking through any arrangement by disregarding any

FRUSRUDWHVWUXFWXUH

Consequences

impermissible

avoidance

DUUDQJHPHQW

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 209

210

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Treatment of

connected

person and

accommodating

SDUW\

Application of

WKLV&KDSWHU

Interpretation

3) In this section,—

a) any equity may be treated as debt or vice versa;

b) any accrual, or receipt, of a capital nature may be treated as of

revenue nature or vice versa; or

c DQ\H[SHQGLWXUHGHGXFWLRQUHOLHIRUUHEDWHPD\EHUHFKDUDFWHULVHG

182 In this Chapter, in determining whether a tax benefit exists,—

a) the parties who are connected persons in relation to each other may

be treated as one and the same person;

b) any accommodating party may be disregarded;

c) the accommodating party and any other party may be treated as one

and the same person;

d) the arrangement may be considered or looked through by

GLVUHJDUGLQJDQ\FRUSRUDWHVWUXFWXUH

183 The provisions of this Chapter shall apply––

a) in addition to, or in lieu of, any other basis for determination of tax

liability;

b) as per such guidelines and subject to such conditions, asmay beSUHVFULEHG

184 For the purposes of this Chapter, unless the context otherwise requires,—

1) “accommodating party” means a party to an arrangement, if the main

purpose of the direct or indirect participation of that party in the arrangement,

LQZKROHRULQSDUWLVWRREWDLQGLUHFWO\RULQGLUHFWO\DWD[EHQHILWEXWIRUWKH

provisions of this Chapter) for the assessee whether or not the party is a

connected person in relation to any party to the arrangement;

2) “arrangement” means any step in, or a part or whole of, any

transaction, operation, scheme, agreement or understanding, whether

enforceable or not, and includes the alienation of any property in such

transaction, operation, scheme, agreement or understanding;

3) “asset” includes property, or right, of any kind;

4) “benefit” includes a payment of any kind whether in tangible or

intangible form;

5) “connected person” means any person who is connected directly or

indirectly to another person and includes,—

a) any relative of the person, if such person is an individual;

b) any director of the company or any relative of such director, if

the person is a company;

c) any partner or member of a firm or association of persons or

body of individuals or any relative of such partner or member, if the

person is a firm or association of persons or body of individuals;

d) any member of the Hindu undivided family or any relative of

such member, if the person is a Hindu undivided family;

e) any individual who has a substantial interest in the business of

the person or any relative of such individual;

210 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

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f) a company, firm or an association of persons or a body of

individuals, whether incorporated or not, or a Hindu undivided family

having a substantial interest in the business of the person or any director,

partner, or member of the company, firm or association of persons or

body of individuals or family, or any relative of such director, partner or

member;

g) a company, firm or association of persons or body of individuals,

whether incorporated or not, or a Hindu undivided family, whose director,

partner, or member has a substantial interest in the business of the person,

or family or any relative of such director, partner or member;

h) any other person who carries on a business, if—

i) the person being an individual, or any relative of such

person, has a substantial interest in the business of that other

person; or

ii) the person being a company, firm, association of persons,

body of individuals, whether incorporated or not, or a Hindu

undivided family, or any director, partner or member of such

company, firm or association of persons or body of individuals or

family, or any relative of such director, partner or member, has a

substantial interest in the business of that other person;

6) “fund” includes—

a) any cash;

b) cash equivalents; and

c) any right, or obligation, to receive or pay, the cash or cash equivalent;

7) “party” includes a person or a permanent establishment which participates

or takes part in an arrangement;

8) “relative” shall have the meaning assigned to it in section 925g);

9) a person shall be deemed to have a substantial interest in the business, if,—

a) in a case where the business is carried on by a company, such person

is, at any time during the financial year, the beneficial owner of equity shares

carrying at least 20% of the voting power; or

b) in any other case, such person is, at any time during the financial

year, beneficially entitled to at least 20% of the profits of such business;

10) “step” includes a measure or an action, particularly one of a series taken

in order to deal with or achieve a particular thing or object in the arrangement;

11) “tax benefit” includes,—

a) a reduction or avoidance or deferral of tax or other amount payable

under this Act; or

b) an increase in a refund of tax or other amount under this Act; or

c) a reduction or avoidance or deferral of tax or other amount that would

be payable under this Act, as a result of a tax treaty; or

d) an increase in a refund of tax or other amount under this Act as a

result of a tax treaty; or

e) a reduction in total income; or

f) an increase in loss,

in the relevant tax year or any other tax year;

12) “tax treaty” means an agreement referred to in section 1591RU2

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 211

212

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Mode of taking

or accepting

certain loans,

deposits and

VSHFLILHGVXP

CHAPTER XII

MODE OF PAYMENT IN CERTAIN CASES (7&

1851) No person shall take or accept from another person any loan or deposit

or specified sum, except through—

a) an account payee cheque; or

b) account payee bank draft; or

c) electronic clearing system through a bank account; or

d) any other prescribed electronic mode,

if,––

i) the amount or the aggregate amount of such loan, deposit, or specified

sum; or

ii) the amount or the aggregate amount of any previously taken or

accepted loan or deposit or specified sum by such person from such

another person, which is remaining unpaid, whether due for repayment

or not, as on the date of taking or accepting such amount as referred to in

FODXVHi); or

iii) the aggregate of the amounts referred to in FODXVHViDQGii),

is ൟ20000 RUPRUH

2) Sub-VHFWLRQ1) shall not apply to loans or deposits or specified sums taken

or accepted from or by,––

a) the Government;

b) any banking company, post office savings bank, or co-operative

bank;

c) any corporation established by a Central, State or Provincial Act;

d DQ\ *RYHUQPHQW FRPSDQ\ DV GHILQHG XQGHU VHFWLRQ 45) of the

Companies Act, 2013;

e) any institution, association, or body or class of institutions,

associations or bodiHVQRWLILHGE\WKH&HQWUDO*RYHUQPHQW

3) The provisions of sub-VHFWLRQ1) shall not apply to any loan or deposit or

specified sum where, the person taking or accepting such loan or deposit or specified

sum and person from whom such loan or deposit or specified sum is taken or

accepted, both, have agricultural income and neither has any income chargeable to

WD[XQGHUWKLV$FW

4) In sub-VHFWLRQ1), “ൟ200000” shall be substituted for “ൟ20000” in the

case of any deposit or loan, where—

a) such deposit is accepted by a primary agricultural credit society or a

primary co-operative agricultural and rural development bank from its

member; or

b) such loan is taken from a primary agricultural credit society or

primary co-operative agricultural and deYHORSPHQWEDQNE\LWVPHPEHU

5) For the purposes of this section, the expression “loan or deposit” means

ORDQRUGHSRVLWRIPRQH\

212 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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186 1) No person shall receive an amount of ൟ200000 or more––

a) in aggregate from a person in a day; or

b) in respect of a single transaction; or

c) in respect of transactions relating to one event or occasion from a person,

except through—

i) an account payee cheque; or

ii) account payee bank draft; or

iii) electronic clearing system through a bank account; or

iv) any other electronic mode, as may be SUHVFULEHG

2) Sub-VHFWLRQ1) shall not apply to—

a) any receipt by Government, any banking company, post office

savings bank or co-operative bank;

b) transactions of the nature referred to in section 185;

c) such other persons or class of persons or receipts, as may be notified

by the Central GovernmeQW

187 Every person shall provide facility for accepting payment, through

electronic modes as may be prescribed, in addition to other electronic modes, if any,

being provided by him, where––

a) such person is carrying on business or profession; and

b) total sales, turnover or gross receipts in such business or profession

exceeds fifty crore rupees GXULQJWKHLPPHGLDWHO\SUHFHGLQJWD[\HDU

188 1) No branch of a banking company or co-operative bank and no other

company or co-operative society and no firm or other person shall repay—

a) any loan or deposit made with it; or

b) any specified advance received by it,

except through––

i) an account payee cheque;

ii) account payee bank draft drawn in the name of the person who has

made the loan or deposit or paid the specified advance; or

iii) by use of electronic clearing system through a bank account, or any

other prescribed electronic mode,

if,––

A) the loan or the deposit or specified advance, together with the

interest, if any, payable thereon; or

B) the aggregate amount of the loans or deposits held by such person

with the branch of the banking company or co-operative bank or, as the case

may be, the other company or co-operative society or the firm or other person

HLWKHULQGLYLGXDOO\RUMRLQWO\RQWKHGDWHRIVXFKUHSD\PHQWWRJHWKHUZLWK

interest, if any, payable thereon; or

C) the aggregate amount of the specified advances received by such

SHUVRQHLWKHULQGLYLGXDOO\RUMRLQWO\RQWKHGDWHRIVXFKUHSD\PHQWWRJether

with the interest, if any, payable thereon,

is ൟ20000 RUPRUH

Mode of

undertaking

WUDQVDFWLRQV

Acceptance of

payment through

prescribed

electronic

PRGHV

Mode of

repayment of

certain loans or

deposits or

specified

DGYDQFHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 213

214

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Interpretation

Determination

of tax where

total income

includes

income on

which no tax is

SD\DEOH

Tax on

accumulated

balance of

recognised

SURYLGHQWIXQG

2) Irrespective of the provision in sub-VHFWLRQ1), a branch of a banking

company or co-operative bank, may also make the repayment by crediting such loan

or deposit to the savings bank account or current account, if any, with such branch

of the person to whRPVXFKORDQRUGHSRVLWKDVWREHUHSDLG

3) Sub-VHFWLRQ 1) shall not apply to repayment of any loan, deposit, or

specified advance taken or accepted from—

a) Government;

b) any banking company, post office savings bank, or co-operative bank;

c) any corporation established by a Central, State, or Provincial Act;

d DQ\ *RYHUQPHQW FRPSDQ\ DV GHILQHG LQ VHFWLRQ 45) of the

Companies Act, 2013;

e) any institution, association, or body or class of institutions,

associations or bodies notified by the &HQWUDO*RYHUQPHQW

4) In sub-VHFWLRQ1), “ൟ200000” shall be substituted for “ൟ20000” in the

case of any deposit or loan where—

a) such deposit is repaid to a member by a primary agricultural credit

society or a primary co-operative agricultural and rural development bank; or

b) such loan is repaid by a member to a primary agricultural credit

society or a primary co-RSHUDWLYHDJULFXOWXUDODQGUXUDOGHYHORSPHQWEDQN

5) For the purposes of this section, the expression “loan or deposit” means

any loan or deposit of money which is repayable after notice or repayable after a

period and, in the case of a person other than a company, includes loan or deposit

RIDQ\QDWXUH

189 For the purposes of this Chapter, unless the context otherwise requires,—

a) “banking company” means a company to which the provisions of the

Banking Regulation Act, 1949 applies and includes any bank or banking

institution referred to in section 51 of that Act;

b) “primary agricultural credit society”, and “primary co-operative

agricultural and rural development bank” shall have the meanings respectively

assigned to them in section 150;

c) “specified sum” means any sum of money receivable, whether as

advance or otherwise, in relation to transfer of an immovable property,

whether or not the transfer takes place;

d) “specified advance” means any sum of money in the nature of

advance, by whatever name called, in relation to transfer of an immovable

SURSHUW\ZKHWKHURUQRWWKHWUDQVIHUWDNHVSODFH

CHAPTER XIII

DETERMINATION OF TAX IN SPECIAL CASES

A.—Determination of tax in certain special cases

190 :KHUHWKHUHLVLQFOXGHGLQWKHWRWDOLQFRPHRIDQDVVHVVHH any income on

which no income-tax is payable under the provisions of this Act, the assessee shall

be entitled to a deduction, from income-tax with which he is chargeable on his total

income, of an amount equal to the income-tax calculated at the average rate of

income-tax on the amount on which no income-WD[LVSD\DEOH

191 :KHUHWKHDFFXPXODWHGEDODQFHGXHWRDQHPSOR\HHSDUWLFLSDWLQJLQD

recognised provident fund is included in his total income, owing to the provisions

of paragraph 8 of Part A of Schedule XI not being applicable, the Assessing Officer

shall calculate the total of the various sums of tax as per the provisions of

paragraph 9 WKHUHRI

214 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

192 1) Irrespective of anything contained in any other provisions of this Act,

the total undisclosed income of the block period, determined under section 294 shall

EHFKDUJHDEOHWRWD[DWWKHUDWHRI

2) The tax chargeable under sub-VHFWLRQ1) shall be increased by a surcharge,

LIDQ\OHYLHGE\DQ\&HQWUDO$FW

193 1) Where the total income of an assessee, being an individual, who is a

resident and an employee of an Indian company engaged in specified knowledge

based industry or service or an employee of its subsidiary engaged in specified

knowledge based industry or VHUYLFHKHUHDIWHULQWKLVVHFWLRQUHIHUUHGWRDVWKH

resident employee), includes income specified in column B of the Table below, the

income-tax payable shall be the aggregate of income-tax computed at the rate

specified in the column C applied on the corresponding income specified in cROXPQ%

Table

Income

Rate of Income-tax

payable

Income from dividend on Global Depository

Receipts of an Indian company engaged in

specified knowledge based industry or service,

issued as per such Employees’ Stock Option

Scheme as the Central Government may, by

notification, specify in this behalf and purchased

by him in foreign currency

10%

Income from long-term capital gains arising

from the transfer of Global Depository Receipts

referred to in serial number 1

Total income as reduced by income referred to

in VHULDOQXPEHUVDQG

Rates in force

2) Where the gross total income of the resident employee—

a) consists only of income by way of dividends in respect of Global

Depository Receipts referred to in sub-VHFWLRQ 1) 7DEOH 6O 1R , no

deduction shall be allowed to him under any other provision of this Act;

includes

any

income

referred

sub-VHFWLRQ

7DEOH6O1R or 2),––

i) the gross total income shall be reduced by such income; and

ii) the deduction under any provision of this Act shall be allowed

as if the gross total income as so reduced were the gross total income of

WKHDVVHVVHH

3) The VHFWLRQ6) shall not apply for computation of long-term capital

gains arising out of the transfer of long-term capital asset, being Global Depository

Receipts referred to in sub-VHFWLRQ1) 7DEOH6O1R)

4) For the purposes of this section,—

a) “Global Depository Receipts” means any instrument in the form of a

depository receipt or certifLFDWH E\ ZKDWHYHU QDPH FDOOHG FUHDWHG E\ WKH

Overseas Depository Bank outside India or in an International Financial

Services Centre and issued to investors against the issue of,—

Tax in case of

block

assessment of

VHDUFKFDVHV

Tax on income

from Global

Depository

Receipts

purchased in

foreign currency

or capital gains

arising from

WKHLUWUDQVIHU

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 215

216

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on certain

LQFRPHV

i) ordinary shares of issuing company, being a company listed on

a recognised stock exchange in India; or

ii) foreign currency convertible bonds of issuing company; or

iii) ordinary shares of issuing company, being a company

incorporated outside India, if such depository receipt or certificate is

listed and traded on any International Financial Services Centre;

b) “information technology service” means any service which results

from the use of any information technology software over a system of

information technology products for realising value addition;

c) “information technology software” means any representation of

instructions, data, sound or image, including source code and object code,

recorded in a machine readable form and capable of being manipulated or

providing inter-activity to a user, by means of an automatic data processing

machine falling under heading information technology products but does not

include non-information technology products;

d) “Overseas Depository Bank” means a bank authorised by the

issuing company to issue Global Depository Receipts against issue of

Foreign Currency Convertible Bonds or ordinary shares of the issuing

company;

e) “specified knowledge based industry or service” means—

i) information technology software; or

ii) information technology service; or

iii) entertainment service; or

iv) pharmaceutical industry; or

v) bio-technology industry; or

vi) any other industry or service, as specified by the Central

Government, by notification;

f) “subsidiary” shall have the same meaning as assigned to it in

section 87) of the Companies Act, 2013 and includes subsidiary

LQFRUSRUDWHGRXWVLGH,QGLD

194 1) Irrespective of anything contained in any other provision of this

Act, where the total income of an assessee as mentioned in column B of the

Table below, includes income of the nature specified in column C of the said

Table, the income-tax payable by such assessee, for a tax year, shall be the

aggregate of––

a) income-tax calculated on income mentioned in column C, at the rate

mentioned in column D, subject to the conditions specified in column E; and

b) income-tax with which the assessee would have been chargeable

had his total income been reduced by income mentioned in column C

WKHUHRI

216 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

Table

Sl1R

Assessee

Income

Rate

of tax

Conditions

Any

person

Winnings

RWKHU

than from any online

game) from––

a) lottery; or

crossword

puzzle; or

c) race including

KRUVH

UDFH

QRW

being income from

the

activity

owning

and

maintaining

race

horses); or

card game

and other game of

any sort; or

e) gambling or

betting of any form

RUQDWXUH

30%

Nil

A person,

resident

India

and

who

patentee

KHUHLQ

referred to as

eligible

DVVHVVHH

Royalty in respect

of a patent developed

and registered in India

10%

a) No deduction

in respect of any

expenditure

allowance shall be

allowed

the

eligible

assessee

under any provision

this

Act

computing

his

income referred to in

column C;

b) an option for

taxation of income

by way of royalty in

respect of a patent

developed

and

registered in India is

exercised

the

prescribed manner,

on or before the due

date specified under

section

for

furnishing the return

of income for the

relevant tax year;

where

option is exercised

XQGHUFODXVHb) and

the eligible assessee

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 217

218

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

does not offer its

income for taxation

as per the provisions

of columns C and D

for any of the five tax

years,

succeeding

such tax year, then

such assessee shall

not be eligible to

claim the benefit of

the

provisions

columns C and D for

five

tax

years

subsequent to the tax

year in which such

income has not been

offered to tax as per

VXFKSURYLVLRQV

Any

person

Income by way of

transfer

carbon

credits

10%

No deduction in

respect

any

expenditure

allowance shall be

allowed

the

assessee under any

provision of this Act

computing

his

income referred to

column C

Any

person

Any income from

the transfer of any

virtual digital asset

30%

a) No deduction

in respect of any

H[SHQGLWXUH

RWKHU

than

cost

acquisition, if any) or

allowance or set off

of any loss shall be

allowed

the

assessee under any

provision of this Act

computing

the

income referred to in

column C; and

b) no set off of

loss from transfer

of the virtual digital

asset

computed

herein

shall

allowed

against

income

computed

under any provision

of this Act to the

assessee and such

loss shall not be

allowed to be carried

forward

VXFFHHGLQJWD[\HDUV

218 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

21 of

Any person

Any income by way

of net winnings from any

online game, computed

in the manner, as may be

SUHVFULEHG

30%

Nil

Any person

Any

profits

and

gains

from

life

insurance business

Nil

2) For the purposes of this section,––

a) “carbon credit”, in respect of one unit, means reduction of one tonne

of carbon dioxide emissions or emissions of its equivalent gases which is

validated by the United Nations Framework on Climate Change and which

can be traded in market at its prevailing market price;

b) “computer resource” shall have the same meaning as assigned to it

in section 1k) of the Information Technology Act, 2000;

c) “developed” means at least 75% of the expenditure incurred in India

by the eligible assessee for any invention in respect of which patent is granted

XQGHUWKH3DWHQWV$FWKHUHLQUHIHUUHGWRDVWKH3DWHQWV$FW

d) “horse race” shall have the meaning assigned to it in section 6);

e) “internet” means the combination of computer facilities and

electromagnetic transmission media including related equipment and

software, comprising the interconnected worldwide network of computer

networks that transmits information based on a protocol for controlling such

transmission;

f) “invention” shall have the same meaning as assigned to it in

VHFWLRQ1j) of the Patents Act;

g) “lump sum” includes an advance payment on account of such

royalties which is not returnable;

h) “online game” means a game that is offered on the internet and is

accessible by a user through a computer resource including any

telecommunication device;

i) “patent” shall have the same meaning as assigned to it in

VHFWLRQ1m) of the Patents Act;

j) “patented article” and “patented process” shall have the same

PHDQLQJV DV UHVSHFWLYHO\ DVVLJQHG WR WKHP LQ VHFWLRQ 1o) of the

Patents Act;

k) “patentee” means the person, being the true and first inventor of the

invention, whose name is entered in the patent register as the patentee, as per

the Patents Act, and includes every such person, being the true and first

inventor of the invention, where more than one person is registered as patentee

under that Act in respect of that patent;

l) “royalty”, in respect of a SDWHQWPHDQVFRQVLGHUDWLRQLQFOXGLQJDQ\

lump sum consideration but excluding any consideration which would be the

income of the recipient chargeable under the head “Capital gains” or

consideration for sale of product manufactured with the use of patented

process or the patented article for commercial use) for the—

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 219

220

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on income

referred to in

sections 102 to

Tax on short-

term capital

gains in certain

FDVHV

i) transfer of all or any ULJKWVLQFOXGLQJWKHJUDQWLQJRIDOLFHQFH

in respect of a patent; or

ii) imparting of any information concerning the working of, or the

use of, a patent; or

iii) use of any patent; or

iv) rendering of any services in connection with the activities

referred to in sub-FODXVHViWRiii);

m) “true and first inventor” shall have the same meaning as assigned to

LWLQVHFWLRQ1y) of the Patents Act; and

n) for the purposes of sub-VHFWLRQ 1) 7DEOH 6O 1R , the term

“transfer” as defined in VHFWLRQ109), shall apply to any virtual digital asset,

ZKHWKHUFDSLWDODVVHWRUQRW

195 1) Where the total income of an assessee—

a) includes any income referred to in section 102 or 103 or 104 or 105

or 106 and reflected in the return of income furnished under

section 263; or

b) determined by the Assessing Officer includes any income referred to

in any of the said section 102 or 103 or 104 or 105 or 106, if such income is

QRWFRYHUHGXQGHUFODXVHa),

the income-tax payable shall be the aggregate of—

i) income-WD[FDOFXODWHGRQWKHLQFRPHUHIHUUHGWRLQFODXVHVa) and

b), at the rate of 60%; and

ii) income-tax with which the assessee would have been chargeable had

his total income been reduced by iQFRPHUHIHUUHGWRLQFODXVHi

2) Irrespective of anything contained in this Act, no deduction in respect of

any expenditure or allowance or set off of any loss shall be allowed to the assessee

under any provision of this Act in computing his income referred to in

sub-VHFWLRQ1)aDQGb)

B.—Special provisions relating to tax on capital gains

196 1) Where the total income of an assessee includes any income chargeable

under the head “Capital gains”, arising from the transfer of a short-term capital

asset––

a) being an equity share in a company or a unit of an equity oriented

fund or a unit of a business trust; and

b) the transaction of sale of such equity share or unit is chargeable

to securities transaction tax under Chapter 9,, RI WKH )LQDQFH 1R

Act, 2004, then,

the tax payable by the assessee on the total income, subject to the provisions of

sub-VHFWLRQ2), shall be the aggregate of—

i) income-tax calculated on such short-term capital gains at the

rate of 20%;

220 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

ii) income-tax payable on the balance amount of the total income as if

VXFKEDODQFHDPRXQWZHUHWKHWRWDOLQFRPHRIWKHDVVHVVHH

2) In the case of an individual or a Hindu undivided family, being a resident,

where the total income, as reduced by short-term capital gains computed under

sub-VHFWLRQ 1), is below the maximum amount which is not chargeable to

income-tax, then,—

a) such short-term capital gains shall be reduced by the amount by

which the total income as so reduced falls short of the maximum amount

which is not chargeable to income-tax; and

b) the tax on the balance of such short-term capital gains shall be

computed at the rate as applicable in sub-VHFWLRQ1)i)

3) The provisions of sub-VHFWLRQ 1)b) shall not apply to a transaction

undertaken on a recognised stock exchange located in any International Financial

Services Centre and where the consideration for such transaction is paid or payable

LQIRUHLJQFXUUHQF\

4) Where the gross total income of an assessee includes any short-term capital

gains referred to in sub-VHFWLRQ 1), the deduction under Chapter VIII shall be

DOORZHGIURPWKHJURVVWRWDOLQFRPHDVUHGXFHGE\VXFKFDSLWDOJDLQV

5) For the purposes of this section, the expression “equity oriented fund” shall

have the meaning assigned to it in VHFWLRQ

197 1) Where the total income of an assessee includes any income arising

from the transfer of a long-term capital asset which is chargeable under the head

“Capital gains”, the tax payable by the assessee on the total income, subject to

sub-VHFWLRQV2), 3) DQG4), shall be the aggregate of—

a) income-tax payable on the total income as reduced by such long-term

capital gains, had the total income, as so reduced, been his total income; and

b) income-tax calculated on such long-term capital gains at the

UDWHRI

2) In the case of an individual or a Hindu undivided family, being a resident,

where the total income as reduced by long-term capital gains computed under

sub-VHFWLRQ 1) is below the maximum amount which is not chargeable to

income-tax, then,—

a) such long-term capital gains shall be reduced by the amount by which

the total income as so reduced falls short of the maximum amount which is

not chargeable to income-tax; and

b) the tax on the balance of such long-term capital gains shall be

computed at the rate as referred in sub-secWLRQ1

3) In the case of an individual or a Hindu undivided family, being a resident,

in the case of transfer of a long-term capital asset, being land or building, or both,

which was acquired before the 23rd July, 2024, the excess income-tax computed as

per the following formula shall be ignored:––

E = A – B

where––

E = excess income-tax to be ignored;

A = income-tax computed under sub-VHFWLRQ1)b);

Tax on long-term

FDSLWDOJDLQV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 221

222

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on long-

term capital

gains in certain

FDVHV

B = income-tax computed under sub-VHFWLRQ1)b) taking the rate

as 20% and the capital gains is computed by taking the cost of

acquisition as “indexed cost of acquisition” and the cost of improvement

as “indexed cost of improvement”

4) In the case of an assessee being a non-UHVLGHQWQRWEHLQJDFRPSany) or a

foreign company, the long term capital gains arising from the transfer of a capital

asset, being unlisted securities or shares of a company not being a company in which

the public are substantially interested, shall be computed without giving effect to

the provisions XQGHUVHFWLRQ6

5) Where the gross total income of an assessee includes any income arising

from the transfer of a long-term capital asset, the gross total income shall be reduced

by such income and the deduction under Chapter VIII shall be allowed as if the gross

WRWDOLQFRPHDVVRUHGXFHGZHUHWKHJURVVWRWDOLQFRPHRIWKHDVVHVVHH

6) For the purposes of this section,—

a) “securities” shall have the same meaning as assigned to it in

VHFWLRQh) of the 6HFXULWLHV&RQWUDFWV5HJXODWLRQ$FW

b) “listed securities” means the securities which are listed on any

recognised stock exchange in India;

c) “unlisted securities” means securities other than listed securities;

d) “indexed cost of acquisition” and “indexed cost of improvement”

shall have the meanings respectively assigned to them in section 72

198 1) Irrespective of anything contained in section 197, the tax payable by

an assessee on his total income shall be determined as per the provisions of

sub-VHFWLRQ2), if—

a) the total income includes any income chargeable under the head

“Capital gains”;

b) the capital gains arise from the transfer of a long-term capital asset

being an equity share in a company or a unit of an equity oriented fund or a

unit of a business trust;

c VHFXULWLHVWUDQVDFWLRQWD[XQGHU&KDSWHU9,,RIWKH)LQDQFH1R

Act, 2004 has—

i) in a case where the long-term capital asset is in the nature of an

equity share in a company, been paid on acquisition and transfer of such

capital asset; or

ii) in a case where the long-term capital asset is in the nature of a

unit of an equity oriented fund or a unit of a business trust, been paid on

WUDQVIHURIVXFKFDSLWDODVVHW

2) The tax payable by the assessee on the total income referred to in

sub-VHFWLRQ1) shall be the aggregate of—

a) income-tax calculated on such long-term capital gains exceeding

ൟ125000 DWWKHUDWHRIDQG

b) income-tax payable on the total income as reduced by long-term

capital gains referred to in sub-VHFWLRQ1) as if the total income so reduced

ZHUHWKHWRWDOLQFRPHRIWKHDVVHVVHH

3) In the case of an individual or a Hindu undivided family, being a resident,

where the total income as reduced by long-term capital gains computed under

sub-VHFWLRQ 1) is below the maximum amount which is not chargeable to

income-tax, then,—

42 RI

222 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

a) such long-term capital gains shall be reduced by the amount by which

the total income as so reduced falls short of the maximum amount which is

not chargeable to income-tax; and

b) the tax on the balance of such long-term capital gains shall be

computed at the rate as referred to in sub-VHFWLRQ2

4) The condition specified in sub-VHFWLRQ 1c) shall not apply to a

transfer undertaken on a recognised stock exchange located in any International

Financial Services Centre and where the consideration for such transfer is

UHFHLYHGRUUHFHLYDEOHLQIRUHLJQFXUUHQF\

5) The Central Government may, by notification, specify the nature of

acquisition in respect of which the provisions of sub-VHFWLRQ 1ci) shall not

DSSO\

6) Where the gross total income of an assessee includes any long-term capital

gains referred to in sub-VHFWLRQ 1), the deduction under Chapter VIII shall be

DOORZHGIURPWKHJURVVWRWDOLQFRPHDVUHGXFHGE\VXFKFDSLWDOJDLQV

7) Where the total income of an assessee includes any long-term capital

gains referred to in sub-VHFWLRQ1), the rebate under section 156 shall be allowed

from the income-tax on the total income as reduced by tax payable on such

FDSLWDOJDLQV

8) For the purposes of this section, the expression “equity oriented fund”

means a fund set up under a scheme of a mutual fund specified in Schedule VII

7DEOH6O1RRURUXQGHUDVFKHPHRIDQLQVXUDQFHFRPSDQ\FRPSULVLQJ

XQLWOLQNHGLQVXUDQFHSROLFLHVWRZKLFKH[HPSWLRQLQ6FKHGXOH,,7DEOH6O1R

2) does not apply and—

i) in a case where the fund invests in the units of another fund which is

traded on a recognised stock exchange,—

A) a minimum of 90% of the total proceeds of such fund is

invested in the units of such other fund; and

B) such other fund also invests a minimum of 90% of its total

proceeds in the equity shares of domestic companies listed on a

recognised stock exchange; and

ii) in any other case, a minimum of 65% of the total proceeds of such

fund is invested in the equity shares of domestic companies listed on a

recognised stock exchange,

and, for the purposes of this clause,––

I) the percentage of equity shareholding or unit held in respect of the

fund, shall be computed with reference to the annual average of the

monthly averages of the opening and closing figures;

II) in case of a scheme of an insurance company comprising unit

linked insurance policies to which exemption in Schedule II

7DEOH6O1R 2) does not apply, the minimum requirement of 90% or

65%, as the case may be, is required to be satisfied throughout the term of

VXFKLQVXUDQFHSROLF\

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 223

224

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on income

of certain

manufacturing

domestic

FRPSDQLHV

Tax on income

of certain

domestic

FRPSDQLHV

C.—New tax regime

199 1) Irrespective of anything contained in this Act, but subject to the

provisions of Parts A, B, E and this Part other than sections 200 and 201) of this

Chapter, the income-tax payable in respect of the total income of a person, being a

domestic company, for any tax year, shall, at the option of such person, be computed

at the rate of 25% subject to the following conditions:––

a) the company has been set-up and registered on or after the

1st March, 2016;

b) the company is not engaged in any business other than the business

of manufacture or production of any article or thing and research in relation

to, or distribution of, such article or thing manufactured or produced by it; and

c) the total income of the company has been computed,—

i) without any deduction under––

A) section 2) or 471b); or

B) Chapter VIII-C, other than the provisions of section 146; or

C) sections specified in VHFWLRQ1)aWRg);

ii) without set off of any loss carried forward from any earlier tax

year, if such loss is attributable to any of the deductions referred to in

sub-FODXVHi)

2) The loss referred to in sub-VHFWLRQ1cii) shall be deemed to have been

given full effect to and no further deduction for such loss shall be allowed for any

VXEVHTXHQW\HDU

3) The provisions of this section shall not apply unless an option is exercised

by the person in the manner as may be prescribed on or before the due date specified

under section 2631) for furnishing the first of the returns of income which such

person is required to furnish and such option once exercised, shall apply to

subsequent WD[\HDUV

4) Once the option under sub-VHFWLRQ3) has been exercised for any tax year,

it cannot be subsequently withdrawn for the same or any other tax year, except

where the person exercises option under section 200

200 1) Irrespective of anything contained in this Act but subject to the

provisions of Parts A, B, E and this Part other than sections 199 and 201) of this

Chapter, the income-tax payable for a tax year shall be at the rate of 22%, at the

option of a person being a domestic company, in respect of the total income of such

person computed in the following manner:––

a) without any deduction under––

i) section 452) or 1)b); or

ii) Chapter VIII other than provisions of section 146 or 148; or

iii) sections specified in VHFWLRQ1)aWRg);

b) without set off of any loss carried forward or depreciation from any

earlier tax year, if such loss or depreciation is attributable to any of the

GHGXFWLRQVUHIHUUHGWRLQFODXVHa);

224 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

c) without set off of any loss or allowance for unabsorbed depreciation

deemed so under section 116, if such loss or depreciation is attributable to any

RIWKHGHGXFWLRQVUHIHUUHGWRLQFODXVHa)

2) Where the person fails to satisfy the requirements contained in

sub-VHFWLRQ1) in any tax year, the option shall become invalid in respect of the said

tax year and subsequent years and other provisions of the Act shall apply, as if the

option had not been exercised for such tax year and for VXEVHTXHQW\HDUV

3) The loss and depreciation referred to in sub-VHFWLRQ1)bDQGc) shall be

deemed to have been given full effect to and no further deduction for such loss or

GHSUHFLDWLRQVKDOOEHDOORZHGIRUDQ\VXEVHTXHQW\HDU

4) In case of a person, having a Unit in the International Financial Services

Centre, which has exercised option under sub-VHFWLRQ 5), the requirements

contained in sub-VHFWLRQ1) shall be modified to the extent that the deduction as

referred to in section 147 shall be available to such Unit subject to fulfilment of the

FRQGLWLRQVFRQWDLQHGLQWKDWVHFWLRQ

5) The provisions of this section shall not apply unless the option is exercised

by the person in such manner as may be prescribed on or before the due date

specified under section 2631) for furnishing the return of income and such option

RQFHH[HUFLVHGVKDOODSSO\WRVXEVHTXHQWWD[\HDUV

6) Once the option under this section has been exercised for any tax year, it

shall not be subsequently withdrawn for the VDPHRUDQ\RWKHUWD[\HDU

7) In case of a person, being a domestic company, where the option exercised by it

under section 201, has been rendered invalid due to violation of the conditions contained

LQVHFWLRQ2b) or c) or d), such person may exHUFLVHWKHRSWLRQXQGHUWKLVVHFWLRQ

201 1) Irrespective of anything contained in this Act, but subject to the

provisions of Parts A, B, E and this Part other than sections 199 and 200) of this

Chapter, the income-tax payable in respect of the total income of an assessee, being

a domestic company, specified in column B of the Table below, shall, at the option

of such assessee, be computed at the rates specified in column C, if the conditions

contained in column D WKHUHRIDUHIXOILOOHG

Table

Assessee

Total income and rate of

tax

Conditions

domestic

company

engaged

business of

manufacture

production

of any article

or thing

a) 15% on the total

income other than the

income

mentioned

FODXVHVbcDQGd);

b ZLWKRXW DQ\

deduction or allowance in

respect of any expenditure

or allowance) on such

income,––

i) which has neither

been derived from nor

incidental

manufacturing

production of an article

or thing; and

Such domestic company––

a) exercises the option in

the

manner

provided

sub-VHFWLRQ2);

b) has been set-up and

registered on or after the 1st

October, 2019;

has

commenced

manufacturing or production

of an article or thing on or

before the 31st March, 2024;

Tax on income

of new

manufacturing

domestic

FRPSDQLHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 225

226

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

New tax regime

for individuals,

Hindu undivided

family and

RWKHUV

ii)

in respect of

which no specific rate

tax

has

been

provided

separately

under Parts A, B, E and

this

Part

this

Chapter;

c) 22% on short-term

capital gains derived from

transfer of a capital asset on

which no depreciation is

allowable under this Act;

d) 30% on the income

deemed

under

section 2054

d) the total income of

which is computed as per the

provisions

sub-VHFWLRQ3); and

fulfils

all

the

conditions

provided

sub-VHFWLRQ

this

VHFWLRQDQGVHFWLRQ2)

2) The option under this section shall be exercised by the assessee in the

manner prescribed subject to the following conditions:––

a) it shall be exercised on or before the due date specified under

section 2631) for furnishing first of the returns of income for any tax year;

b) such option, once exercised, shall apply to subsequent tax years;

c) once the option has been exercised for any tax year, it shall not be

subsequently withdrawn for the same or any other tax year; and

d) where the assessee fails to fulfil the conditions contained in

sub-VHFWLRQ1) 7DEOH6O1R' in any tax year,––

i) the option shall become invalid in respect of such tax year and

subsequent tax years; and

ii) the other provisions of this Act shall apply, as if the option had

QRWEHHQH[HUFLVHGIRUWKDWWD[\HDUDQGVXEVHTXHQWWD[\HDUV

3) For the purposes of sub-VHFWLRQ1), the total income of the assessee shall

be computed,—

a) without any deduction under—

i) section 452) or 1)b); or

ii) Chapter VIII other than section 146 or 148; or

iii) sections specified in 1)aWRg);

b) without set off of any loss or allowance for unabsorbed depreciation

deemed so under section 116, if such loss or depreciation is attributable to any of

WKHGHGXFWLRQVUHIHUUHGWRLQFODXVHa)

4) While computing the income of the assessee, the loss and depreciation, or

both, as specified in sub-VHFWLRQ3)b) shall be deemed to have been given full effect

to and no further deduction for such loss or depreciation, or both, shall be allowed

IRUDQ\VXEVHTXHQW\HDU

5) In case of an amalgamation, option under this section shall remain valid in case

of the amalgamated company only and if the conditions contained in sub-VHFWLRQ1)

7DEOH6O1R' DUHFRQWLQXHGWREHIXOILOOHGE\VXFKFRPSDQ\

202 1) Irrespective of anything contained in this Act other than

Chapter XVII-B but subject to Parts A, B, E and this Part of this Chapter, the

income-tax payable by a person, being—

a) an individual; or

b) a Hindu undivided family; or

226 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

c DQDVVRFLDWLRQRISHUVRQVRWKHUWKDQDFR-operative society); or

d) a body of individuals, whether incorporated or not; or

e) an DUWLILFLDOMXULGLFDOSHUVRQUHIHUUHGWRLQVHFWLRQ77g),

in respect of the total income for a tax year, shall, unless the person exercises the

option in the manner provided under sub-VHFWLRQ4), be computed at the rate of tax

given in the following Table:—

Table

Sl 1R

Total income

Rate of tax

8SWRൟ400000

Nil

)URPൟ4WRൟ800000

)URPൟ8WRൟ200000

10%

)URPൟ2WRൟ600000

15%

)URPൟ6WRൟ2000000

20%

From ൟ2000001 to ൟ2400000

25%

Above ൟ2400000

30%

2) For the purposes of sub-VHFWLRQ1), the total income of the assessee shall

be computed—

a) without any exemption or deduction under––

i 6FKHGXOH,,,7DEOH6O1R 5 or 6 or 7 or 8 or 11 or 17);

ii 6FKHGXOH,,,7DEOH6O1R or 13) RWKHUWKDQWKRVHDVmay

be prescribed for this purpose);

iii) section 144;

iv VHFWLRQ17DEOH6O1R

v VHFWLRQ 1b), in respect of properties referred to in

VHFWLRQ6);

vi VHFWLRQ8);

vii) section 48;

viii) section 49;

ix VHFWLRQ3aRUbRUc);

x) section 46;

xi VHFWLRQ1a); and

xii) Chapter VIII other than the provisions of VHFWLRQV1) and

2RU2) or 146; and

b) without set off of—

i) any loss carried forward or depreciation from any earlier tax

year, if such loss or depreciation is attributable to any of the deductions

UHIHUUHGWRLQFODXVHa); or

ii) any loss under the head “Income from house property” with

any other head of income; and

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 227

228

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on income

of certain

resident co-

operative

VRFLHWLHV

c) without any exemption or deduction for allowances or perquisite,

FDOOHGE\DQ\QDPHSURYLGHGXQGHUDQ\RWKHUODZLQIRUFH

3) The loss and depreciation referred to in sub-VHFWLRQ2)b) shall be deemed

to have been given full effect to and no further deduction for such loss or

GHSUHFLDWLRQVKDOOEHDOORZHGIRUDQ\VXEVHTXHQW\HDU

4) Nothing contained in sub-VHFWLRQ1) shall apply to a person, where an

option is exercised by such person under this section, in such manner as may be

prescribed, for any tax year, and such option is exercised,––

a) in case of a person having income from business or profession,––

i) on or before the due date specified under section 1) for

furnishing the returns of income for such tax year;

ii) such option, once exercised, shall apply to subsequent tax

years;

iii) such option, once exercised, may be withdrawn only once for

a tax year other than the tax year for which it was exercised; and

iv) after such withdrawal, the person shall never be eligible to

exercise the option under this sub-section, except where such person

ceases to have any income from business or profession, and in such a

FDVHWKHRSWLRQXQGHUFODXVHb) shall be available;

b) in case of a person not having income from business or profession,

along with the return of income to be furnished under section 1) for the

WD[\HDU

5) In case of a person, having a Unit in the International Financial Services

Centre, the provisions of sub-VHFWLRQ 2) shall be modified to the extent that

deduction under section 147 shall be available to such Unit subject to fulfilment of

WKHFRQGLWLRQVFRQWDLQHGLQWKDWVHFWLRQ

203 1) Irrespective of anything contained in this Act but subject to the

provisions of Part A, B, E and this Part other than section 204) of this Chapter, the

income-tax payable for a tax year shall be at the rate of 22%, at the option of a

person being a co-operative society resident in India, in respect of the total income

of such person computed in the following manner:––

a) without any deduction under—

i) Chapter VIII other than the provisions of section 146; or

ii) sections specified in VHFWLRQ1)a) WRg);

b) without set off of any loss carried forward or depreciation from any

earlier tax year, if such loss or depreciation is attributable to any of the

GHGXFWLRQVUHIHUUHGWRLQFODXVHa)

2) Where a person fails to satisfy the requirements contained in sub-VHFWLRQ1)

in any tax year, the option shall become invalid in respect of the said tax year and

subsequent tax years and other provisions of the Act shall apply, as if the option had

not been exercised for such tax year and for subsequent tax \HDUV

3) The loss anGGHSUHFLDWLRQUHIHUUHGWRLQFODXVHb) of sub-VHFWLRQ1) shall

be deemed to have been given full effect to and no further deduction for such loss

or depreciation shall be allowed for any subsequent tax \HDU

228 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

4) In case of a person, having a Unit in the International Financial Services

Centre, which has exercised option under sub-VHFWLRQ 5), the requirements

contained in sub-VHFWLRQ1) shall be modified to the extent that the deduction under

section 147 shall be available to such Unit subject to fulfilment of the conditions

FRQWDLQHGLQWKHVDLGVHFWLRQ

5) The provisions of this section shall not apply unless the option is exercised

by the person in the prescribed manner on or before the due date specified under

section 1) for furnishing the return of income and such option once exercised

VKDOODSSO\WRVXEVHTXHQWWD[\HDUV

6) Once the option under this section has been exercised for any tax year, it

shall not be subsequently withdrawn for the VDPHRUDQ\RWKHUWD[\HDU

204 1) Irrespective of anything contained in this Act but subject to the

provisions of Part A, B, E and this Part other than section 203) of this Chapter, the

income-tax payable in respect of the total income of an assessee, being a

co-operative society, resident in India, engaged in the business of manufacture or

production of any article or thing, shall at the option of such assessee, be computed

at the rates specified in column A of the said Table, if the conditions contained in

column B WKHUHRIDUHIXOILOOHG

Table

Total income and rate

of tax

Conditions

a) 15% on the total

income other than the income

mentioned in FODXVHVbc)

DQGd);

b ZLWKRXW DQ\

deduction or allowance in

respect of any expenditure or

allowance) on such income,—

which

has

neither been derived

from nor is incidental to

manufacturing

production of an article

or thing; and

ii) in respect of

which no specific rate of

tax has been provided

separately under this

Part;

c) 22% on short-term

capital gains derived from

transfer of a capital asset on

which no depreciation is

allowable under this Act;

d) 30% on the income

deemed so under section 205 4

Such co-operative society––

a) exercises the option in the manner

provided in sub-VHFWLRQ2);

b) has been set-up and registered on or

after the 1st April, 2023;

c) has commenced manufacturing or

production of an article or thing on or before the

31st March, 2024;

d) the total income of which is computed

as per the provisions of sub-VHFWLRQ3); and

e) fulfils all the conditions provided in

section 2052)

Tax on income

of certain new

manufacturing

co-operative

VRFLHWLHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 229

230

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Conditions for

tax on income of

certain

companies and

co-operative

VRFLHWLHV

2) The option under this section shall be exercised by the assessee in the

manner as may be prescribed subject to the following conditions:––

a) it shall be exercised on or before the due date specified under

section 1) for furnishing the first of the returns of income for any tax

year; and

b) such option, once exercised, shall apply to subsequent tax years;

c) once the option has been exercised for any tax year, it shall not be

subsequently withdrawn for the same or any other tax year;

d) where the assessee fails to fulfil the conditions contained in

sub-VHFWLRQ1) 7DEOH6O1R B) in any tax year,––

i) the option shall become invalid in respect of such tax year and

subsequent tax years; and

ii) the other provisions of this Act shall apply, as if the option had

QRWEHHQH[HUFLVHGIRUWKDWWD[\HDUDQGVXEVHTXHQWWD[\HDUV

3) For the purposes of sub-VHFWLRQ1), the total income of the assessee shall

be computed,—

a) without any deduction under––

i) Chapter VIII other than the provisions of section 146; or

ii) sections specified in 1)aWRg);

b) without set off of any loss carried forward or depreciation from

earlier tax year, if such loss or depreciation is attributable to any of the

GHGXFWLRQVUHIHUUHGWRLQFODXVHa)

4) While computing the income of the assessee, the loss and depreciation, or

both, as specified in sub-VHFWLRQ3)b) shall be deemed to have been given full effect

to and no further deduction for such loss or depreciation, or both, shall be allowed

IRUDQ\VXEVHTXHQW\HDU

205 1) For the purposes of sections 1991ciC), 1aiii),

2013aiii), 2031aii) and 2043aii), the total income shall be computed

without any deduction or exemption, under the following provisions:––

a VHFWLRQ8), determined in such manner, as may be prescribed;

b) sHFWLRQ3aRUbRUc);

c) section 46;

d) section 1a);

e) section 48;

f) section 49; and

g) section 144

2) For the purposes of section 201 or 204, the following conditions shall apply

to the assessee:—

a) its business is not formed by splitting up, or the reconstruction, of a

business already in existence, unless it is formed as a result of the

re-establishment, reconstruction or revival of the business of any such

undertaking as is referred to in section 4) in the circumstances and within

the period specified in the said section;

230 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) it does not use any machinery or plant, previously used for any

purpose, other than—

i) permitted machinery or plant used outside India;

ii) machinery or plant or any part thereof previously used for any

purpose and the total value of such machinery or plant or any part thereof

put to use by the assessee does not exceed 20% of the total value of the

machinery or plant used by such assessee;

c) in case of a domestic company, it does not use any building previously

used as a hotel or a convention centre, in respect of which deduction under

section 80-ID of the Income-tax Act, 1961 has been claimed and allowed;

d) it is not engaged in any business other than the business of

manufacture or production of any article or thing and research in relation to,

or distribution of, such article or thing manufactured or produced by it,

and, if any difficulty arises in fulfilling any of the conditioQVFRQWDLQHGLQFODXVHb)

RUcRUd), the Board may, with the previous approval of the Central Government,

issue guidelines for the purpose of removing the difficulty and to promote

manufacturing or production of article or thing using new plant and maFKLQHU\

3) Every guideline issued by the Board under sub-VHFWLRQ2) shall be laid

before each House of Parliament while it is in session for a total period of thirty

days which may be comprised in one session or in two or more successive sessions,

and if, before the expiry of the session immediately following the session or the

successive sessions aforesaid, both houses agree in making any modification in such

guideline or both Houses agree that the guideline, should not be issued, the guideline

shall thereafter have effect only in such modified form or be of no effect, as the case

may be; so, however, that any such modification or annulment shall be without

SUHMXGLFHWRWKHYDOLGLW\RIDQ\WKLQJSUHYLRXVO\GRQHXQGHUWKDWJXLGHOLQH

4) For the purposes of sections 201 and 204,––

a) where it appears to the Assessing Officer that, owing to the close

connection between the person to which the said section applies and any other

person, or for any other reason, the course of business between them is so

arranged that the business transacted between them produces to the assessee

more than the ordinary profits which might be expected to arise in such

business, then the Assessing Officer shall, in computing the profits and gains

of such business for the purposes of this section, take profits as may be

reasonably deemed to have been derived therefrom, and where the said

arrangement involves a specified domestic transaction referred to in

section 164, profits from such transaction shall be determined having regard

to the arm’s length price as defined in section 173a); and

b) the amount, being profits in excess of the profits determined by the

$VVHVVLQJ2IILFHUXQGHUFODXVHa), shall be deemed to be the income of the

person and shall be chargeable at the rates specified in VHFWLRQ 1)

>7DEOH6O1RCd@RU1)>7DEOH6O1RAd@, DVWKHFDVHPD\EH

5) For the purposes of this Part,––

a) the business of manufacture or production of any article or thing shall

include the business of generation of electricity but shall not include business of—

i) development of computer software in any form or in any media; or

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 231

232

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Special

provision for

minimum

alternate tax and

alternate

PLQLPXPWD[

ii) mining; or

iii) conversion of marble blocks or similar items into slabs; or

iv) bottling of gas into cylinder; or

v) printing of books or production of cinematograph film; or

vi) any other business as may be notified by the Central

Government in this behalf; and

b) the expressions,––

i) “hotel” and “convention centre” shall have the meanings

UHVSHFWLYHO\ DVVLJQHG WR WKHP LQ FODXVH b DQG FODXVH a) of

section 80-,'6) of the Income-tax Act, 1961;

ii) “permitted machinery and plant used outside India”

means the machinery or plant, which was previously used outside

India by any other person, if the following conditions are

fulfilled:—

A) such machinery or plant was not, at any time

previous to the date of the installation, used in India;

B) such machinery or plant is imported into India from

any country outside India; and

C) no deduction on account of depreciation in

respect of such machinery or plant has been allowed or

is allowable under the provisions of this Act in

computing the total income of any person for any period

before the date of installation of machinery or plant by

the person;

iii) “unabsorbed depreciation” shall have the meaning

assigned to it in section 13e); and

iv) “Unit” shall have the same meaning as assigned to it in

VHFWLRQzc) of the Special Economic Zones Act, 2005

D²Special provisions relating to minimum alternate tax and alternate

minimum tax

206 1)a) Irrespective of anything contained in any other provision of this

Act, where in the case of an assessee being a company, the income-tax payable on

the total income as computed under this Act for a tax year is less than the minimum

alternate tax payable for such tax year, then—

i) the book profit shall be deemed to be the total income of that

assessee for such tax year; and

ii) the assessee shall be liable to pay income-tax equal to the minimum

DOWHUQDWHWD[

b) For the purposes of clause a), the expressions “minimum alternate tax”

means the amount of tax computed on the book profitͶ

i) in case of a company being a unit located in an International Financial

Services Centre and deriving its income solely in convertible foreign

exchange, at the rate of 9%;

ii) in case of any other company, at a rate of 15%

28 RI

232 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

c) For the purposes of this section, “book profit” means the profit as shown

in the statement of profit and loss for the relevant tax year prepared as per

FODXVHf), as increased by—

i) income-tax paid or payable and the provision therefor, if any such

amount is debited to the statement of profit and loss, where income-tax shall

include—

A) any interest charged under this Act;

B) surcharge, if any, as levied under the Central Acts;

C) Education Cess on income-tax, if any, as levied under the

Central Acts; and

D) Secondary and Higher Education Cess on income-tax, if any,

as levied under the Central Acts;

ii) the amounts carried to any reserves, called by any name, if any such

amount is debited to the statement of profit and loss;

iii) the amount or amounts set aside to provisions made for meeting

liabilities, other than ascertained liabilities, if any such amount is debited to

the statement of profit and loss;

iv) the amount by way of provision for losses of subsidiary companies,

if any such amount is debited to the statement of profit and loss;

v) dividends paid or proposed, if any such amount is debited to the

statement of profit and loss;

vi) expenditure relatable to any income to which provisions of

section 11 apply or any expenditure out of regular income of a registered

non-profit organisation referred in section 335, if any such amount is debited

to the statement of profit and loss;

vii) depreciation, if any such amount is debited to the statement of profit

and loss;

viii) deferred tax and the provision therefor, if any such amount is

debited to the statement of profit and loss;

ix) the amount or amounts set aside as provision for diminution in the

value of any asset, if any such amount is debited to the statement of profit and

loss;

x) the amount standing in revaluation reserve relating to revalued asset

on the retirement or disposal of such asset, if any such amount is not credited

to the statement of profit and loss,

and as reduced by—

xi 7KHDPRXQWZLWKGUDZQIURPDQ\UHVHUYHRUSURYLVLRQH[FOXGLQJD

reserve created before the 1st April, 1997 otherwise than by way of a debit to

the statement of profit and loss), where,––

A) any such amount is credited to the statement of profit and loss;

and

B) the book profit of such year has been increased by those

reserves or provisions out of which the said amount was withdrawn;

xii) income to which any of the provisions of section 11 apply or any

regular income of a registered non-profit organisation referred in section 335,

if any such amount is credited to the statement of profit and loss;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 233

234

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

xiii) depreciation debited to the statement of profit and loss excluding

the depreciation on account of revaluation of assets;

xiv) the amount withdrawn from revaluation reserve and credited to the

statement of profit and loss, to the extent it does not exceed depreciation on

account of revaluation of assets referred to in sub-FODXVHxiii);

xv) deferred tax, if any such amount is credited to the statement of profit

and loss;

xvi ORVV EURXJKW IRUZDUG H[FOXGLQJ GHSUHFLDWLRQ RU XQDEVRUEHG

depreciation, whichever is less, as per books of account, except, where either

of such amount is nil, in case of a company other than the company referred

to in clause dviDQGvii),

and as further adjusted by the amounts referred to in clause d

d) While computing the book profit under this section, the following amounts

shall be further adjusted:––

i) in case of a company being a member of association of persons or

body of individuals having income being share of the assessee in the income

of an association of persons or body of individuals, on which no income-tax

is payable as per the provisions of section 310, then—

A) the amount or amounts of expenditure relatable to such income

if debited to the statement of profit and loss, is to be added; and

B) the amount being income if credited to the statement of profit

and loss, is to be reduced;

ii) in case of a foreign company having income accruing or arising

from—

A) capital gains arising on transactions in securities; or

B) the interest, dividend, royalty or fees for technical services

chargeable to tax at the rate or rates specified in Chapter XIII,

and the income-tax payable thereon as per the provisions of this Act, other

than the provisions of this Part, is at a rate less than the rate specified in

clause b), then—

I) the amount or amounts of expenditure relatable to such income

if debited to the statement of profit and loss, is to be added; and

II) the amount being income if credited to the statement of profit

and loss, is to be reduced;

iii) In case of a company, which has transferred any capital asset, being

share of a special purpose vehicle to a business trust,—

I) the following amounts, if debited to the statement of profit and

loss, are to be added:—

A) the amount representing the notional loss on transfer of

such capital asset, to a business trust in exchange of units allotted

E\WKHWUXVWUHIHUUHGWRLQVHFWLRQ1zi); or

B) the amount representing the notional loss resulting from

any change in carrying amount of the said units; or

the loss on transfer of units referred to in

VHFWLRQ1zi);

234 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

1 RI

II) the following amounts, if credited to the statement of profit and

loss, are to be reduced:—

A) the amount representing the notional gain on transfer of

such capital asset, to a business trust in exchange of units allotted

by the trust referred to in sectiRQ1zi); or

B) the amount representing the notional gain resulting from

any change in carrying amount of the said units; or

the gain on transfer of units referred to in

VHFWLRQ1zi);

iv) in case of a company that has transferred units referred to in

VHFWLRQ 1zi) and, where the gain or loss on such transfer has been

computed by taking into account—

A) the cost of the shares exchanged with units referred to in

section 1zi); or

B) the carrying amount of the shares at the time of exchange, if

such shares are carried at a value other than the cost through statement

of profit and loss,

then, the gain on transfer of such units is to be added, and the loss on transfer

of such units is to be reduced;

v) in case of a company whose total income includes income by way of

royalty in respect of a patent which is chargeable to tax under

VHFWLRQ1)—

A) the amount or amounts of expenditure relatable to such royalty

income, if any such amount is debited to the statement of profit and loss,

is to be added; and

B) the income by way of such royalty, is to be reduced;

vi) in case of a company, where the Tribunal, on an application moved

by the Central Government under section 241 of the Companies Act, 2013 has

after suspension of the Board of Directors of such company has nominated

new directors under section 242 of the said Act, the aggregate amount of

XQDEVRUEHGGHSUHFLDWLRQDQGORVVH[FOXGLQJGHSUHFLDWLRQEURXJKWIRUZDUGRI

such company and its subsidiary and the subsidiary of such subsidiary, is to

be reduced;

vii) in case of a company against whom corporate insolvency resolution

process has been admitted by the Adjudicating Authority under section 7 or 9

or 10 of the Insolvency and Bankruptcy Code, 2016, the aggregate amount of

XQDEVRUEHGGHSUHFLDWLRQDQGORVVH[FOXGLQJGHSUHFLDWLRQEURXJKWIRUward, is

to be reduced;

viii) in case of a company being a sick industrial company under

VHFWLRQ1RIWKH6LFN,QGXVWULDO&RPSDQLHV6SHFLDO3URYLVLRQV$FW

as it stood immediately before its repeal by the Sick Industrial Companies

6SHFLDO3URYLVLRQV5HSHDO$FWWKHSURILWVIRUWKHSHULRGFRPPHQFLQJ

from the tax year in which such company has become a sick industrial company

and ending with the tax year during which the entire net worth of such company

beFRPHVHTXDOWRRUH[FHHGVWKHDFFXPXODWHGORVVHVLVWREHUHGXFHG

ix) in case of a company, whose financial statements are drawn up in

compliance with the Indian Accounting Standards specified in Annexure to

WKH&RPSDQLHV,QGLDQ$FFRXQWLQJ6WDQGDUGV5ules, 2015 made under the

Companies Act, 2013, the amounts mentioned in column A of the Table below

shall be added and the amounts mentioned in column B of the said Table below

are to be reduced:

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 235

236

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Table

$PRXQWVWREHDGGHG

$PRXQWVWREHreduced)

Amounts

credited

the

statement of profit and loss as referred

in clause ei)

Amounts

debited

the

statement of profit and loss as referred

in clause ei)

2) The amounts or aggregate of the

amounts debited to the statement of

profit and loss on distribution as

referred in clause eii)

2) The amounts or aggregate of the

amounts credited to the statement of

profit and loss on distribution as

referred in clause eii)

3) Amount being one-fifth of the

transition amount in the year of

convergence and each of the following

four tax years

3) Amount being one-fifth of the

transition amount in the year of

convergence and each of the following

four tax years

4) The amount or the aggregate of

the

amounts

referred

clause eiii), if such amount is not

decreased

4) The amount or the aggregate of

the

amounts

referred

clause eiii), if such amount is not

increased

5) The amount or the aggregate of

the

amounts

referred

clause e)iv), if such amount is not

GHFUHDVHG

5) The amount or the aggregate of

the

amounts

referred

clause eiv), if such amount is not

LQFUHDVHG

e) For the purposes of the Table in clause dix),—

i) the amount referred to in columns A and B of serial number 1 of the

said Table shall be the other comprehensive income in the statement of profit

and loss under the head “Items that will not be re-classified to profit or loss”,

excluding—

A) revaluation surplus for assets as per the Indian Accounting

Standards 16 and Indian Accounting Standards 38; or

B) gains or losses from investments in equity instruments

designated at fair value through other comprehensive income as per the

Indian Accounting Standards 109,

and the amount or the aggregate of the amounts referred to in sub-FODXVHiA)

DQGB) for the tax year or any of the preceding tax years, and relatable to such

investment or asset, in the tax year in which the said investment or asset is

retired, disposed, realised or otherwise transferred;

ii) the distribution referred to in columns A and B of serial number 2 of

the said Table shall be the distribution of non-cash assets to shareholders in a

demerger as per Appendix A of the Indian Accounting Standards 10;

iii) the amount referred to in columns A and B of serial number 4 of the

said Table shall be the amount which is relatable to the asset or investment

referred to in clause tviBWRE) for the tax year in which such asset or

investment is retired, disposed, realised or otherwise transferred;

iv) the amount referred to in columns A and B of serial number 5 of the

said Table shall be the transition amount which is relatable to the foreign

operations referred to in clause tviF) for the tax year in which such foreign

RSHUDWLRQLVGLVSRVHGRURWKHUZLVHWUDQVIHUUHG

236 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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f) For the purposes of book profit under clause c), every company shall

prepare its statement of profit and loss for the relevant tax year in the following

manner:—

i) in case of an insurance or banking company, or a company engaged

in the generation or supply of electricity, or any other class of company for

which a form of financial statement has been specified under the enactment

governing such class of company, as per the provisions of such enactment;

ii) in all other cases, as per the provisions of Schedule III to the

&RPSDQLHV$FW

g) While preparing the annual accounts including statement of profit and loss

by the company, the—

i) accounting policies;

ii) accounting standards adopted for preparing such accounts including

statement of profit and loss; and

iii) method and rates adopted for calculating the depreciation,

shall be the same as have been adopted for the purpose of preparing such accounts

including statement of profit and loss and laid before the company at its annual

general meeting as per the provisions of section 129 of the Companies Act, 2013,

or correspond to the accounting policies, accounting standards and the method and

rates for calculating the depreciation which have been adopted for preparing such

accounts including statement of profit and loss for, such financial year or part of

such financial year falling within the relevant tax year, where the company has

adopted or adopts the financial year under the which is different from the tax year

XQGHUWKLV$FW

h) In the case of a resulting company, where the property and the liabilities

of the undertaking or undertakings being received by it are recorded at values

different from the values appearing in the books of account of the demerged

company immediately before the demerger, any change in such value shall be

ignored for the purpose of computation of book profit of the resulting company

under this sub-VHFWLRQ

i) In the case of an assessee being a company, where––

i) there is an increase in book profit of the tax year due to income of

past year or years included in the book profit on account of––

A) an advance pricing agreement entered into by the assessee

under section 168; or

B) a secondary adjustment required to be made under section 170;

and

ii) the assessee has not utilised the credit of tax paid under this

sub-section in any subsequent tax year under FODXVHVmnoDQGp),

the Assessing Officer shall, on an application made to him in this behalf by the

assessee,––

I) recompute the book profit of the past year or years and tax payable

under this sub-section, if any, by the assessee during the tax year in such

manner, as may be prescribed; and

II) the provisions of section 287 shall, so far as may be, apply and the

period of four years specified in sub-VHFWLRQV7DQG8) of that section shall

be reckoned from the end of the tax year in which the said application is

UHFHLYHGE\WKH$VVHVVLQJ2IILFHU

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 237

238

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

j) Irrespective of anything contained in any other provisions of this Act, no

interest shall be payable to an assessee on the refund arising on account of the

clause i

k) Nothing contained in clause a) shall affect the determination of the

amounts, in relation to the relevant tax year, to be carried forward to the subsequent

\HDURU\HDUVXQGHUWKHSURYLVLRQVRIVHFWLRQ11) or 111 or 1RURU

l) The provisions of this sub-section shall not be applicable to any assessee,

being a foreign company, where––

i) the assessee is a resident of a country or a specified territory with

ZKLFK,QGLDKDVDQDJUHHPHQWUHIHUUHGWRLQVHFWLRQ1) or the Central

*RYHUQPHQWKDVDGRSWHGDQ\DJUHHPHQWXQGHUVHFWLRQ2) and the assessee

does not have a permanent establishment in India as per the provisions of such

agreement; or

ii) the assessee is a resident of a country with which India does not have

an agreement of the nature referred to in sub-clause i) and the assessee is not

required to seek registration under any law for the time being in force relating

to companies; or

iii) the total income of the assessee comprises solely of profits and gains

IURPEXVLQHVVUHIHUUHGWRLQVHFWLRQ27DEOH6O1RVDQGDQG

such income has been offered to tax at the rates specified is the respective

VHFWLRQV

m) Where any tax is paid under clause a) by an assessee, then, credit shall

be allowed to him of an amount in excess of such minimum alternate tax over the

tax payable by such assessee on his total income computed as per the other

SURYLVLRQVRIWKLV$FWIRUWKDWWD[\HDU

n) While allowing credit under clause m),––

i) no interest shall be payable on the tax credit so allowed; and

ii) where tax credit in respect of any income-tax paid in any country or

VSHFLILHGWHUULWRU\RXWVLGH,QGLDXQGHUVHFWLRQ1RU2), allowed against

the minimum alternate tax exceeds such tax credit admissible against the tax

payable by the assessee on its income as per the other provisions of this Act,

then, while computing the credit under clause m), such excess amount shall

EHLJQRUHG

oi) The tax credit determined under clause m) shall be carried forward,

and––

A) set off in a year, when tax payable on the total income computed as

per the provisions of this Act exceeds the minimum alternate tax; and

B) such set off in respect of brought forward tax credit shall be allowed

for any tax year to the extent of the difference between the tax on his total

income and the minimum alternate tax for that tax year;

ii) such carry forward of tax credit shall not be allowed beyond the fifteenth

tax year immediately succeeding the tax year in which the tax credit becomes

allowable under clause m);

p) Where as a result of any order passed under this Act, tax payable under

this Act is decreased or increased, as the case may be, tax credit allowed under

clause m) shall also be decreased or increased accordingly

q) The provisions of this section shall not apply to a person,––

i) being a company having income accruing or arising from life

LQVXUDQFHEXVLQHVVUHIHUUHGWRLQVHFWLRQ1) 7DEOH6O1RRU

ii ZKRKDVH[HUFLVHGWKHRSWLRQXQGHUVHFWLRQ5) or section 2)

238 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

1 of 2004

r) In case of conversion of a private company or unlisted public company

into a limited liability partnership under the Limited Liability Partnership

Act, 2008, the provisions of clauses mWRp) shall not apply to the successor

limited liability partnership

s) Every company to which this section applies, shall furnish a report in the

prescribed form from an accountant, certifying that the book profit in its case has

been computed as per the provisions of this section––

i) before the specified date referred to in section 63; or

ii) along with the return of income furnished in response to a notice

XQGHUVHFWLRQ1)

t) For the purposes of this sub-section,—

i) “Adjudicating Authority” shall have the same meaning as

assigned to it in section 51) of the Insolvency and Bankruptcy

Code, 2016;

ii) “convergence date” means the first day of the first Indian Accounting

Standards reporting period as defined in the Indian Accounting Standards 101;

iii) “net worth” shall have the meaning assigned to it in section 3(1)ga)

RIWKH6LFN,QGXVWULDO&RPSDQLHV6SHFLDO3URYLVLRQV$FWDVLWVWRRG

LPPHGLDWHO\ EHIRUH LWV UHSHDO E\ WKH 6LFN ,QGXVWULDO &RPSDQLHV 6SHFLDO

Provisions) Repeal Act, 2003;

iv) “private company” and “unlisted public company” shall have the

meanings respectively assigned to them in the Limited Liability Partnership

Act, 2008;

v) “securities” shall have the same meaning as assigned to it in

VHFWLRQhRIWKH6HFXULWLHV&RQWUDFWV5HJXODWLRQ$FW

vi) “transition amount” means the amount or the aggregate of the

DPRXQWV DGMXVWHG LQ WKH RWKHU HTXLW\ H[FOXGLQJ FDSLWDO UHVHUYH DQG

securities premium reserve) on the convergence date, but not including the

following:—

A) amount or aggregate of the amounts adjusted in the other

comprehensive income on the convergence date which shall be

subsequently re-classified to the profit or loss;

B) revaluation surplus for assets as per the Indian Accounting

Standards 16 and Indian Accounting Standards 38 adjusted on the

convergence date;

C) gains or losses from investments in equity instruments

designated at fair value through other comprehensive income as per the

Indian Accounting Standards 109 adjusted on the convergence date;

D) adjustments relating to items of property, plant and equipment

and intangible assets recorded at fair value as deemed cost as per

paragraphs D5 and D7 of the Indian Accounting Standards 101 on the

convergence date;

E) adjustments relating to investments in subsidiaries, joint

ventures and associates recorded at fair value as deemed cost as per

paragraph D15 of the Indian Accounting Standards 101 on the

convergence date; and

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 239

240

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

F) adjustments relating to cumulative translation differences of

a foreign operation as per paragraph D13 of the Indian Accounting

Standards 101 on the convergence date;

vii) “Tribunal” shall have the same meaning as assigned to it in

VHFWLRQ90) of the Companies Act, 2013;

viii) “Unit” means a unit established in an International Financial

Services Centre;

ix) “year of convergence” means the tax year within which the

convergence date falls; and

x) a company shall be a subsidiary of another company, if such other

company holds more than half in the nominal value of equity share capital of

WKHFRPSDQ\

2)a) Irrespective of anything contained in this Act, where the regular

income-tax payable for a tax year by a person, other than a company, is less than

the alternate minimum tax payable for such tax year, then,—

i) the adjusted total income shall be deemed to be the total income of

that person for such tax year and

ii) he shall be liable to pay income-tax equal to the alternate minimum

WD[

b) For the purposes of this sub-section,—

i) “adjusted total income” shall be the total income before giving effect

to clause a), as increased by deductions claimed, if any, under—

I DQ\VHFWLRQRWKHUWKDQVHFWLRQLQFOXGHGLQ&KDSWHU9,,,-C;

II) section 46 as reduced by depreciation allowable as per the

provisions of section 33, as if no deduction was allowed in respect of

WKHDVVHWVRQZKLFKWKHGHGXFWLRQXQGHUWKDWVHFWLRQLVFODLPHG

ii) “alternate minimum tax” means the amount of tax computed on

adjusted total income,—

I) in case of an assessee being a unit located in an International

Financial Services Centre and deriving its income solely in convertible

foreign exchange, at the rate of 9%;

II) in case of an assessee being a co-operative society, at the rate

of 15%;

III) in any other case, at a rate of

iii) “regular income-tax” means the income-tax payable for a previous

year by a person on his total income in accordance with the provisions of this

Act other than the provisions of this sub-section;

iv) “Unit” means a unit established in an International Financial

6HUYLFHV&HQWUH

c) The provisions of this sub-section shall apply to a person who has claimed

DQ\ GHGXFWLRQ XQGHU DQ\ VHFWLRQ RWKHU WKDQ VHFWLRQ LQFOXGHG LQ

Chapter VIII-&RUVHFWLRQ

240 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

d) The provisions of this sub-section shall not apply to––

i) a person, who has exercised the RSWLRQ XQGHU VHFWLRQ 5) or

VHFWLRQ2);

ii) a person, whose income-tax payable in respect of the total income

RIVXFKSHUVRQLVFRPSXWHGXQGHUVHFWLRQ1);

iii) an individual or a Hindu undivided family or an association of

persons or a body of individuals, whether incorporated or not, or an artificial

MXULGLFDOSHUVRQUHIHUUHGWRLQVHFWLRQ77g), if the adjusted total income of

such person does not exceed twenty lakh rupees; or

iv DQ\VSHFLILHGIXQGUHIHUUHGWRLQ6FKHGXOH9,1RWH

e) Where any tax is paid under clause a) by an assessee, then, credit shall

be allowed to him of an amount which shall be the excess of alternate minimum

WD[RYHUWKHUHJXODULQFRPHWD[SD\DEOHRIWKDW\HDU

f) While allowing credit under clause e),––

i) no interest shall be payable on the tax credit so allowed; and

ii) where tax credit in respect of any income-tax paid in any country

RU VSHFLILHG WHUULWRU\ RXWVLGH ,QGLD XQGHU VHFWLRQ 1 RU 2), allowed

against the alternate minimum tax payable exceeds such tax credit admissible

against the regular income-tax payable by the assessee, then, while

FRPSXWLQJWKHFUHGLWXQGHUFODXVHeVXFKH[FHVVDPRXQWVKDOOEHLJQRUHG

g) Tax credit determined under clause e) shall be carried forward

and––

i) set off in a year, when the regular income tax exceeds the alternate

minimum tax; and

ii) such set off in respect of brought forward tax credit shall be allowed

for any tax year to the extent of the excess of regular income tax over the

alternate minimum tax for that tax year,

and such carry forward shall not be allowed beyond the fifteenth tax year

immediately succeeding the tax year in which the tax credit becomes allowable

under clause e

h) Where as a result of any order passed under this Act, tax payable under

this Act is reduced or increased, tax credit allowed under clause e) shall also be

UHGXFHGRULQFUHDVHGDFFRUGLQJO\

i) Irrespective of anything contained in clause c) or clause d), the credit for

tax paid under clause a) shall be allowed in accordance with the provisions of

clauses efg) and h

j) Every person to which this sub-section applies, shall furnish a report in

the prescribed form from an accountant, certifying that the adjusted total income

and alternate minimum tax in its case have been computed as per the provisions of

this sub-VHFWLRQEHIRUHWKHVSHFLILHGGDWHUHIHUUHGWRLQVHFWLRQ

3) Save as otherwise provided in this section, all other provisions of this Act

shall apply to every assessee mentioned in this section

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 241

242

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on

dividends,

royalty and fees

for technical

service in case

of foreign

companies

E.—Special provisions relating to non-residents and foreign companies

207 1) The income-tax payable on the total income of a non-UHVLGHQWQRW

being a company) or of a foreign company, which includes any income specified

in the column B of the Table below, shall be the aggregate of income-tax computed

at the rate specified in the column C applied on the corresponding income specified

in column B

Table

Income

Rate of Income-

tax payable

Dividend [other than dividends specified against

VHULDOQXPEHU@

20%

Dividend received from a unit in an International

Financial Services Centre

10%

Interest received from Government or an Indian

concern on moneys borrowed or debt incurred by

Government or the Indian concern in foreign

currency not being interest referred to against serial

QXPEHUVDQG

20%

Interest received from an infrastructure debt fund

referred to in Schedule 9,,7DEOH6O1R

Interest of the nature and extent referred to in

VHFWLRQ27DEOH6O1RsDQG

Rates

specified

VHFWLRQ

7DEOH 6O 1Rs

2, 3 and 4)

Distributed income being interest referred to in

section 3932) 7DEOH6O1R

Rate

specified

section

3932)

7DEOH

Income received in respect of units, purchased in

foreign currency, of a Mutual Fund specified in

Schedule VI,7DEOH6O1R or 21) or of the Unit

Trust of India

20%

Total income as reduced by income referred to

DJDLQVWVHULDOQXPEHUVWR

Rates in force

2) Where the total income of a non-UHVLGHQWQRWEHLQJDFRPSDQ\RURID

foreign company, includes any income by way of royalty or fees for technical

services received from Government or an Indian concern in pursuance of an

agreement made with Government or an Indian concern after the 31st March, 1976,

RWKHUWKDQLQFRPHUHIHUUHGWRLQVHFWLRQ1), and—

a) the agreement is approved by the Central Government where such

agreement is with an Indian concern; or

b) where the agreement relates to a matter included in the industrial

policy, for the time being in force, of the Government of India, it is as per

that policy,

242 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

then, subject to the provisions of sub-VHFWLRQ3), the income-tax payable shall be

the aggregate of income-tax computed at the rate specified in the column C applied

on the corresponding income specified in column B of the Table below:––

Table

Income

Rates of income-tax

payable

Royalty other than income referred to in

section 591)

20%

Fees for technical services other than

income referred to in section 591)

20%

Total income as reduced by income

referred WRDJDLQVWVHULDOQXPEHUVDQG

Rates in force

3) Where the royalty referred to in sub-VHFWLRQ2) is in consideration for the

WUDQVIHURUJUDQWRIDOORUDQ\ULJKWVLQFOXGLQJWKHJUDQWLQJRIDOLFHQFH––

a) in respect of copyright in any book to an Indian concern; or

b) in respect of any computer software to a person resident in India,

then the provisions of sub-VHFWLRQ2) shall apply in relation to such royalty without

application of provisions of FODXVHa) or b) of that sub-VHFWLRQ

4) For the purposes of this section,––

a) “computer software” means any computer programme recorded on

any disc, tape, perforated media or other information storage device; or any

customised electronic data or any product or service of similar nature as may

be notified by the Board, which is transmitted or exported from India to a

place outside India by any means;

b) “fees for technical services” shall have the meaning assigned to it

in section 9;

c) “royalty” shall have the meaning assigned to it in section 9

5) No deduction in respect of any expenditure or allowance shall be allowed

under sections 28 to 58, 60 and 61 and section 93 for computing income referred

to in sub-VHFWLRQV1DQG2

6) Where the gross total income of an assessee––

a) consists only of the income referred to in sub-VHFWLRQ1) 7DEOH6O

1R WR QR GHGXFWLRQ VKDOO EH DOORZHG XQGHU &KDSWHU 9,,, and

Schedule XV;

b) includes any income referred to in sub-VHFWLRQ1) 7DEOH6O1R

to 7), the gross total income shall be reduced by such income and the

deduction under Chapter VIII shall be allowed as if such reduced amount

were the gross total income of the assessee

7) The provisions of sub-VHFWLRQ6) shall not apply to a deduction allowed

to Unit of an International Financial Services Centre under section 147

8) It shall not be necessary for an assessee to furnish a return of income

under section 2631), if—

a) the total income during the tax year consisted only of income

referred to in sub-VHFWLRQ1) 7DEOH6O1RVWR and sub-section 2)

7DEOH6O1RVDQGDQG

b) the tax deductible at source under the provisions of Chapter XIX-B

has been deducted from such income at a rate not less than the rate specified

in sub-VHFWLRQV1DQG2

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 243

244

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on income

from units

purchased in

foreign

currency or

capital gains

arising from

WKHLUWUDQVIHU

208 1) The income-tax payable on the total income of an assessee, being an

RYHUVHDV ILQDQFLDO RUJDQLVDWLRQ KHUHLQ referred to as Offshore Fund), which

includes income specified in column B of the Table below, shall be the aggregate

of income-tax computed at the rate specified in the column C applied on the

corresponding income specified in cROXPQ%

Table

Income

Rate of income-tax

payable

Income received in respect of units purchased in

foreign currency

10 %

Long-term capital gains arising from the transfer

of units purchased in foreign currency

12%

Total income as reduced by income referred

DJDLQVWVHULDOQXPEHUVDQG

5DWHVLQIRUFH

2) Where the gross total income of the Offshore Fund—

a) consists only of income from units or income by way of long-term

capital gains arising from the transfer of units, or both, no deduction shall be

allowed to the assessee under sections 28 to 58, 60 and RUVHFWLRQ1a)

or e) or under Chapter VIII;

b LQFOXGHVDQ\LQFRPHUHIHUUHGWRLQFODXVHa),––

i) the gross total income shall be reduced by such income; and

ii) the deduction under Chapter VIII shall be allowed as if the

gross total income so reduced were the gross total income of the

DVVHVVHH

3) For the purposes of this section,––

a) “overseas financial organisation” means any fund, institution,

association or body, whether incorporated or not, established under the laws

of a country outside India,––

i) which has entered into an arrangement for investment in India

with any public sector bank or public financial institution or a mutual

IXQGVSHFLILHGLQ6FKHGXOH9,,7DEOH6O1RRUDQG

ii) such arrangement is approved by the Securities and Exchange

Board of India, established under the Securities and Exchange Board

of India Act, 1992, for this purpose;

b) “public financial institution” shall have the same meaning as

assigned to it in section 72) of the Companies Act, 2013;

c) “unit” means unit of,––

i DPXWXDOIXQGVSHFLILHGLQ6FKHGXOH9,,7DEOH6O1R

or 21); or

ii) the Unit Trust of India

244 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

209 1) The income-tax payable, on the total income of an assessee, being a

non-resident, which includes income specified in column B of the Table below,

shall be the aggregate of income-tax computed at the rate specified in the

column C applied on the corresponding income specified in cROXPQ%

Table

Income

Rate of

income-tax

payable

From interest on––

a) bonds of an Indian company issued as per

such scheme as may be notified by the Central

Government; or

b) bonds of a public sector company sold by the

Government,

and purchased in foreign currency

10%

From dividends on Global Depository Receipts—

a) issued as per such scheme as may be notified by

the Central Government against the initial issue of

shares of an Indian company and purchased in foreign

currency through an approved intermediary; or

b) issued against the shares of a public sector

company sold by the Government and purchased by

him in foreign currency through an approved

intermediary; or

c) issued or re-issued as per a scheme as may be

notified by the Central Government, against the

existing shares of an Indian company purchased in

IRUHLJQFXUUHQF\WKURXJKDQDSSURYHGLQWHUPHGLDU\

10%

Long-term capital gains arising from the transfer of

bonds referred to against serial number 1 or Global

Depository Receipts referred to against VHULDOQXPEHU

Total income as reduced by income referred to against

VHULDOQXPEHUVWR

Rates

IRUFH

2) Where the gross total income of the non-resident—

a) consists only of income by way of interest or dividends in respect

of––

i) bonds referred to in sub-VHFWLRQ1) 7DEOH6O1RRU

ii) Global Depository Receipts referred to in sub-VHFWLRQ 1)

7DEOH6O1R

QRGHGXFWLRQVKDOOEHDOORZHGXQGHUVHFWLRQVWRDQGRUVHFWLRQ1a)

RUe) or under Chapter VIII;

b) includes any income referred to in sub-VHFWLRQ1)7DEOH6O1R

WR7DEOH6O1R––

Tax on income

from bonds or

Global

Depository

Receipts

purchased in

foreign

currency or

capital gains

arising from

WKHLUWUDQVIHU

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 245

246

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on income

of Foreign

Institutional

Investors from

securities or

capital gains

arising from

WKHLUWUDQVIHU

i) the gross total income shall be reduced by the such income;

and

ii) the deduction under Chapter VIII shall be allowed as if the

gross total income so reduced, were the gross total income of the

DVVHVVHH

3 7KH SURYLVLRQV RI VHFWLRQ 6) shall not apply for computation of

long-term capital gains arising out of the transfer of long-term capital asset being

bonds or Global Depository Receipts referred to in sub-VHFWLRQ1)7DEOH6O1R

4) It shall not be necessary for a non-resident to furnish a return of his

income under section 2631), if—

a) his total income during the tax year consisted only of income

referred to in sub-sections 1)7DEOH6O1RDQG7DEOH6O1R and

b) the tax deductible at source under the provisions of Chapter XIX-B

KDVEHHQGHGXFWHGIURPVXFKLQFRPH

5) Where the assessee acquired Global Depository Receipts or bonds in an

amalgamated or resulting company by virtue of his holding Global Depository

Receipts or bonds in the amalgamating or demerged company, as the case may be,

as per the provisions of sub-VHFWLRQ1), the provisions of that sub-section shall

DSSO\WRVXFK*OREDO'HSRVLWRU\5HFHLSWVRUERQGV

6) For the purposes of this section,––

a) “approved intermediary” means an intermediary which is approved

as per a scheme as may be notified by the Central Government; and

b) “Global Depository Receipts” shall have the meaning assigned to it

in section 1934a

210 1) The income-tax payable on the total income of an assessee, being a

specified fund or Foreign Institutional Investor, which includes income referred to

in column B of the Table below, shall be the aggregate of income-tax computed at

the rate specified in the column C applied on the corresponding income specified

in column B

Table

Income

Rate of Income-

tax payable

Income in respect of securities other than units

referred to in section

20% in

case of Foreign

Institutional

Investor;

10 % in

case of specified

fXQG

Short-WHUPFDSLWDOJDLQVQRWEHLQJVKRUW-term

capital gains referred to in section 196) arising

from the transfer of such securities

30%

Short-term capital gains referred to in

section 196 arising from the transfer of such

securities

20%

Long-WHUP FDSLWDO JDLQV QRW EHLQJ ORQJ-term

capital gains referred to in section 198 arising from

the transfer of such securities)

246 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

15 of 1992

Long-term capital gains referred to in

section 198 arising from the transfer of such

VHFXULWLHVZKLFKH[FHHGVൟ

Total income as reduced by income referred to

DJDLQVWVHULDOQXPEHUVWR

5DWHVLQIRUFH

2) In case of specified fund, provisions of this section shall apply only to the

extent of income that is attributable to units held by non-UHVLGHQWQRWEHLQJD

permanent establishment of such non-resident in India) calculated in the manner as

may be prescribed, irrespective of the provisions of sub-VHFWLRQ1

3) Irrespective of anything contained in sub-VHFWLRQ 1), where the

specified fund is an investment division of an offshore banking unit, the

provisions of this section shall apply to the extent of income that is attributable

WRVXFKLQYHVWPHQWGLYLVLRQUHIHUUHGWRLQFODXVHgii) of Note 1 of the Table

in Schedule VI as a Category-I portfolio investor under the Securities and

([FKDQJH%RDUGRI,QGLD)RUHLJQ3RUWIROLR,QYHVWRUV5HJXODWLRQV9 made

under the Securities and Exchange Board of India Act, 1992, calculated in such

manner as may be SUHVFULEHG

4) Where the gross total income of the specified fund or Foreign

Institutional Investor—

a) consists only of income in respect of securities referred in

sub-VHFWLRQ 1)7DEOH6O 1R, no deduction shall be allowed to it

under sections 28 to 58, 60 and WRRUVHFWLRQ1aRUe) or under

Chapter VIII;

b) includes any income referred to in sub-VHFWLRQ1)7DEOH6O1R

WR7DEOH6O1R,––

i) the gross total income shall be reduced by the amount of such

income; and

ii) the deduction under Chapter VIII shall be allowed as if the

gross total income as so reduced, were the gross total income of the

VSHFLILHGIXQGRU)RUHLJQ,QVWLWXWLRQDO,QYHVWRU

5 7KHSURYLVLRQVRIVHFWLRQ6) shall not apply for the computation of

capital gains arising out of the transfer of securities referred to in sub-VHFWLRQ1)

7DEOH6O1RWR7DEOH6O1R

6) For the purposes of this section,––

a) “Foreign Institutional Investor” means such investor as specified in

a notification by the Central Government;

b) “permanent establishment” shall have the meaning assigned to it in

section 173c);

c) “securities” shall have the same meaning as assigned to it in

VHFWLRQhRIWKH6HFXULWLHV&RQWUDFWV5HJXODWLRQ$FW

d) “specified fund” shall have the meaning assigned to it in Schedule VI

[Note 1@

211 1) Where the total income of an assessee,––

a EHLQJDVSRUWVPDQLQFOXGLQJDQDWKOHWHZKRLVQRWDFLWL]HQRI

India and is a non-resident, includes any income received or receivable by

way of––

i) participation in India in any game [other than a game the

winnings from which are taxable as specified in section 1941)7DEOH

6O1R@ or sport; or

Tax on non-

resident

sportsmen or

sports

DVVRFLDWLRQV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 247

248

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

,QWHUSUHWDWLRQ

ii) advertisement; or

iii) contribution of articles relating to any game or sport in India

in newspapers, magazines or journals; or

b) being a non-resident sports association or institution, includes

any amount guaranteed to be paid or payable to such association or

institution in relation to any game, other than a game the winnings from

ZKLFKDUHWD[DEOHDVVSHFLILHGLQVHFWLRQ1)7DEOH6O1RRUVSRUW

played in India; or

c) being an entertainer, who is not a citizen of India and is a

non-resident, includes any income received or receivable from his

performance in India,

then, the aggregate of income-tax payable by the assessee shall be computed at the

rate specified in the column C applied on the corresponding income specified in

column B:—

Table

6O1R

Income

Rate of Income-tax

payable

,QFRPHUHIHUUHGWRLQFODXVHaRUb)

RUc

20%

Total income as reduced by income

UHIHUUHGWRLQFODXVHaRUbRUc)

5DWHVLQIRUFH

2) No deduction in respect of any expenditure or allowance shall be allowed

under any provision of this Act in computing the income referred to in

sub-VHFWLRQ1

3) It shall not be necessary for the assessee to furnish a return of his income

under section 2631), if—

a) his total income during the tax year consisted only of income

referred to in sub-VHFWLRQ1); and

b) the tax deductible at source under the provisions of Chapter XIX-B

KDVEHHQGHGXFWHGIURPVXFKLQFRPH

212 In sections 213 to 218,—

a) “foreign exchange asset” means any specified asset which the

assessee has acquired or purchased with, or subscribed to in, convertible

foreign exchange;

b) “investment income” means any income derived from a foreign

exchange asset;

c) “long-term capital gains” means income chargeable under the head

“Capital gains” relating to a capital asset, being a foreign exchange asset

which is not a short-term capital asset;

d) “non-resident Indian” means an individual, who is not a resident

and is—

i) a citizen of India; or

ii) a person of Indian origin;

e) “specified asset” means any of the following assets:—

i) shares in an Indian company; or

ii) debentures issued by an Indian company which is not a private

company as defined in the Companies Act, 2013; or

248 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

iii) deposits with an Indian company which is not a private

company as defined in the Companies Act, 2013; or

iv) any security of the Central Government as defined in

VHFWLRQf) of the Government Securities Act, 2006; or

v) such other assets as the Central Government may specify in

WKLVEHKDOIE\QRWLILFDWLRQ

213 1) No deduction in respect of any expenditure or allowance shall be

allowed under any provision of this Act in computing the investment income of a

non-UHVLGHQW,QGLDQ

2) In the case of an assessee, being a non-resident Indian, where––

a) the gross total income consists only of investment income or income

by way of long-term capital gains or both, then no deduction shall be allowed

under Chapter VIII;

b WKHJURVVWRWDOLQFRPHLQFOXGHVDQ\LQFRPHUHIHUUHGWRLQFODXVHa),––

i) the gross total income shall be reduced by such income; and

ii) the deductions under Chapter VIII shall be allowed as if the

gross total income as so reduced was the gross total income of the

DVVHVVHH

214 7KHLQFRPH-tax payable on the total income of an assessee, being

a non-resident Indian, which includes income specified in column B of the

Table below, shall be the aggregate of income-tax computed at the rate

specified in the column C applied on the corresponding income specified in

column B

Table

Income

Rate of Income-tax payable

Income from investment

20%

Income from long-term capital gains

on specified asset

Total income as reduced by income

referred to against serial numbers 1

DQG

5DWHVLQIRUFH

215 1) Where, in case of an assessee, being a non-resident Indian,––

a) any long-term capital gains arises from the transfer of a foreign

H[FKDQJHDVVHWKHUHin referred to as original asset); and

b) within six months after the date of such transfer, he has invested the

whole or any part RI WKH QHW FRQVLGHUDWLRQ LQ DQ\ VSHFLILHG DVVHW KHUHin

referred to as new asset),

then the capital gains shall be dealt with in the following manner:—

i) if the cost of the new asset is not less than the net consideration in

respect of the original asset, the whole of such capital gain shall not be

charged under section 67;

ii) if the cost of the new asset is less than the net consideration in

respect of the original asset, then the capital gain computed by the following

formula shall not be charged under section 67:––

Special

provision for

computation of

total income of

non-UHVLGHQWV

Tax on

investment

income and

long-term

FDSLWDOJDLQV

Capital gains

on transfer of

foreign

exchange assets

not to be

charged in

FHUWDLQFDVHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 249

250

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Return of

income not to

be furnished in

FHUWDLQFDVHV

Benefit under

Chapter to be

available in

certain cases

even after

assessee

becomes

UHVLGHQW

Chapter not to

apply if the

assessee so

FKRRVHV

Conversion of

an Indian branch

of foreign

company into

subsidiary

,QGLDQFRPSDQ\

A=B×C

Where,

A = the capital gains not to be charged under section 67;

B = whole of the capital gain;

C = cost of acquisition of the new asset;

' QHWFRQVLGHUDWLRQLQUHVSHFWRIWKHRULJLQDODVVHW

2) For the purposes of sub-VHFWLRQ1),––

a) “cost”, in relation to any new asset, being a deposit referred to

LQVHFWLRQeiiiRUv), means the amount of such deposit;

3) :KHUH WKH QHZ DVVHW LV WUDQVIHUUHG RU FRQYHUWHG RWKHUZLVH WKDQ E\

transfer) intomoney, within three years from date of its acquisition, the capital

gain arising from transfer of original asset not so charged under section 67 on the

EDVLVRIWKHFRVWRIVXFKQHZDVVHWDVSURYLGHGLQVXEVHFWLRQ1iRUii), shall be

deemed to be income by way of capital gains relating to capital assets other than

short-term capital assets of the tax year in which the new asset is transferred or

FRQYHUWHGRWKHUZLVHWKDQE\WUDQVIHULQWRPRQH\

216It shall not be necessary for a non-resident Indian to furnish a returnof

KLVLQFRPHXQGHUVHFWLRQ1), if—

a) his total income during the tax year consisted only of investment

income or income by way of long-term capital gains or both; and

the tax deductible at source under the provisions of

Chapter XIX-%KDVEHHQGHGXFWHGIURPVXFKLQFRPH

217 :KHUHDQRQ-resident Indianin any tax year,––

a) becomes assessable as a resident in India in respect of total

income in a subsequent year; and

b) furnishes a declaration in writing to the Assessing Officer along

with his return of income under section 263 for the tax year for which he

is so assessable, to the effect that provisions of sections 212 to 218 shall

continue to apply to him in relation to the investment income derived from

DQ\IRUHLJQH[FKDQJHDVVHWUHIHUUHGWRLQVHFWLRQe) other than shares

in an Indian company,

then the provisions of sections 212 to 218 shall continue to apply in relation to

such income for that tax year and every subsequent tax year until the transfer

RUFRQYHUVLRQRWKHUZLVHWKDQE\WUDQVIHURIVXFKDVVHWVLQWRPRQH\

218 $ QRQ-resident Indian may choose not to be governed by the

provisions of sections 212 to 217 for any tax year by declaring it in his return

of income under section 263 for such tax year,and if he does so,—

a) the provisions of sections 212 to 217 shall not apply to him for

that tax year, and

b) his total income for that tax year shall be computed and charged

to tax according to the other provisions of tKLV$FW

219 1) Where a foreign company is engaged in the business of banking in

India through its branch situated in India and such branch is converted into a

subsidiary Indian company as per the scheme framed by the Reserve Bank of India,

then, irrespective of anything contained in this Act and subject to the conditions as

may be notified by the Central Government,—

E³QHWFRQVLGHUDWLRQ´LQUHODWLRQWRWKHWUDQVIHURIWKHRULJLQDODVVHWPHDQV

WKHIXOOYDOXHRIWKHFRQVLGHUDWLRQUHFHLYHGRUDFFUXLQJDVDUHVXOWRIWKHWUDQVIHURI

VXFK DVVHW DV UHGXFHG E\ DQ\ H[SHQGLWXUH LQFXUUHG ZKROO\ DQG H[FOXVLYHO\ LQ

FRQQHFWLRQZLWKVXFKWUDQVIHU

250 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

a) the capital gains arising from such conversion shall not be

chargeable to tax in the tax year in which such conversion takes place; and

b) the provisions of this Act relating to––

i) treatment of unabsorbed depreciation, set off or carry forward

and set off of losses;

ii) tax credit in respect of tax paid on deemed income relating to

certain companies; and

iii) computation of income of the foreign company and

subsidiary Indian company,

shall apply with such exceptions, modifications and adaptations as specified in that

QRWLILFDWLRQ

2) In case of failure to comply with any of the conditions specified in the

scheme or in the notification issued under sub-VHFWLRQ1), all the provisions of this

Act shall apply to the foreign company and the said subsidiary Indian company

without any benefit, exemption or relief under the said sub-VHFWLRQ

3) Where, in a tax year, any benefit, exemption or relief has been claimed

and granted as per the provisions of sub-VHFWLRQ1) and, subsequently, there is

failure to comply with any of the conditions specified in the scheme or in the

notification issued under the said sub-section then,—

a) such benefit, exemption or relief shall be deemed to have been

wrongly allowed;

b) the Assessing Officer may, irrespective of anything in this Act,

re-compute the total income of the assessee for the said tax year and make

the necessary amendment; and

c) the provisions of section 287 shall, so far as may be, apply thereto

and the period of four years specified in sub-VHFWLRQ8) of that section being

reckoned from the end of the tax year in which the failure to comply with the

condition referred to in sub-VHFWLRQ1WDNHVSODFH

4) Every notification issued under this section shall be laid before each

+RXVHRI3DUOLDPHQW

220 1) Where a foreign company is said to be a resident in India in any tax

year and such company has not been a resident in India in earlier tax years, then,

irrespective of anything in this Act and subject to the conditions as may be notified

by the Central Government in this behalf, the provisions of this Act relating to—

a) the computation of total income;

b) treatment of unabsorbed depreciation;

c) set off or carry forward and set off of losses;

d) collection and recovery; and

e) special provisions relating to avoidance of tax,

shall apply with such exceptions, modifications and adaptations as specified in

that notificationfor such tax year

2) Where the determination regarding foreign company to be resident in

India has been made in the assessment proceedings for any tax year, then, the

provisions of sub-VHFWLRQ1) shall also apply to any other tax year succeeding such

tax year, which ends on or before the date of completion of such assessment

SURFHHGLQJ

3) Where, in a tax year, any benefit, exemption or relief has been claimed

and granted to the foreign company as per the provisions of sub-VHFWLRQ1), and,

subsequently, there is failure to comply with any of the conditions specified in the

notification issued under the said sub-section, then,—

a) such benefit, exemption or relief shall be deemed to have been

wrongly allowed;

Foreign

company said

to be resident

LQ,QGLD

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 251

252

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on income

from

securitisation

WUXVWV

b) the Assessing Officer may, irrespective of anything in this Act,

re-compute the total income of the assessee for the said tax year and make

the necessary amendment as if the exceptions, modifications and adaptation

referred to in sub-VHFWLRQ1) did not apply; and

c) the provisions of section 287 shall, so far as may be, apply thereto

and the period of four years specified in sub-VHFWLRQ8) of that section being

reckoned from the end of the tax year in which the failure to comply with the

condition referred to in sub-VHFWLRQ1WDNHVSODFH

4) Every notification issued under this section shall be laid before each

+RXVHRI3DUOLDPHQW

F.—Special provisions relating to pass-through entities

221 1) Irrespective of anything contained in this Act, where a person being

an investor of a securitisation trust, receives any income or any income accrues or

arises to him, out of investments made in the securitisation trust, such income shall

be chargeable to income-tax in the same manner as if it were the income accruing

or arising to, or received by, such person, had the investments by the securitisation

WUXVWEHHQPDGHGLUHFWO\E\KLP

2) The income paid or credited by the securitisation trust shall be deemed to

be of the same nature and in the same proportion in the hands of the person referred

to in sub-VHFWLRQ1), as if it had been received by, or had accrued or arisen to, the

VHFXULWLVDWLRQWUXVWGXULQJWKHWD[\HDU

3) The income accruing or arising to, or received by, the securitisation trust

during a tax year, if not paid or credited to the person referred to in sub-VHFWLRQ1),

shall be deemed to have been credited to the account of the said person––

a) on the last day of the tax year; and

b) in the same proportion in which such person would have been

HQWLWOHGWRUHFHLYHWKHLQFRPHKDGLWEHHQSDLGLQWKHWD[\HDU

4) The person responsible for crediting or making payment of the income on

behalf of securitisation trust, and the securitisation trust, shall furnish, within such

period, as may be prescribed, to the person who is liable to tax in respect of such

income and to the prescribed income-tax authority, a statement in such form and

verified in such manner, giving details of the nature of the income paid or credited

during the tax year and such other relevant details, as may be SUHVFULEHG

5) Any income which has been included in the total income of the person

referred to in sub-VHFWLRQ1) in a tax year, on account of it having accrued or arisen

in the said tax year, shall not be included in the total income of such person in the

WD[\HDULQZKLFKVXFKLQFRPHLVDFWXDOO\SDLGWRKLPE\WKHVHFXULWLVDWLRQWUXVW

6) For the purposes of this section,—

a) “investor” means a person who is holder of any securitised debt

instrument or securities or security receipt issued by the securitisation trust;

b) “securities” means debt securities issued by a Special Purpose

Vehicle as referred to in the guidelines on securitisation of standard assets

issued by the Reserve Bank of India;

c) “securitised debt instrument” shall have the same meaning as

DVVLJQHGWRLWLQUHJXODWLRQ1s) of the Securities and Exchange Board of

,QGLD3XEOLF2IIHUDQG/LVWLQJRI6HFXULWLVHG'HEW,QVWUXPHQWV5HJXODWLRQV

2008 made under the Securities and Exchange Board of India Act, 1992 and

WKH6HFXULWLHV&RQWUDFWV5HJXODWLRQ$FW

252 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

d) “securitisation trust” means a trust, being a—

“special

purpose

distinct

entity”

defined

UHJXODWLRQ 1u) of the Securities and Exchange Board of India

3XEOLF 2IIHU DQG /LVWLQJ RI 6HFXULWLVHG 'HEW ,QVWUXPHQWV

Regulations, 2008 made under the Securities and Exchange Board of

,QGLD$FWDQGWKH6HFXULWLHV&RQWUDFWV5HJXODWLRQ$FW

and regulated under the said regulations; or

ii) “Special Purpose Vehicle” as defined in, and regulated by,

the guidelines on securitisation of standard assets issued by the

Reserve Bank of India; or

iii) trust set-up by a securitisation company or a reconstruction

company formed, for the purposes of the Securitisation and

Reconstruction of Financial Assets and Enforcement of Security

Interest Act, 2002, or in pursuance of any guidelines or directions

issued for the said purposes by the Reserve Bank of India,

which fulfils such conditions, as may be prescribed;

e) “security receipt” shall have the same meaning as assigned to it in

VHFWLRQ 1zg) of the Securitisation and Reconstruction of Financial

$VVHWVDQG(QIRUFHPHQWRI6HFXULW\,QWHUHVW$FW

222 1) Irrespective of anything contained in any other provision of this

Act, where a person, out of investments made in a venture capital company or

venture capital fund, receives any income, or any income accrues or arises to

him, such income shall be chargeable to income-tax in the same manner as if it

were the income accruing or arising to, or received by, such person, had he made

investments directly in the venturHFDSLWDOXQGHUWDNLQJ

2) The person responsible for crediting or making payment of the income on

behalf of a venture capital company or a venture capital fund and the venture capital

company or venture capital fund shall furnish, within such time, as may be

prescribed, to the person who is liable to tax in respect of such income and to the

prescribed income-tax authority, a statement in the prescribed form and verified in

the prescribed manner, giving details of the nature of the income paid or credited

during the tax year and such other relevant details, as may be SUHVFULEHG

3) The income paid or credited by the venture capital company and the

venture capital fund shall be deemed to be of the same nature and in the same

proportion in the hands of the person referred to in sub-VHFWLRQ1) as it had been

received by, or had accrued or arisen to, the venture capital company or the

YHQWXUHFDSLWDOIXQGDVWKHFDVHPD\EHGXULQJWKHWD[\HDU

4) The provisions of Chapter XIX-B shall not apply to the income paid by

DYHQWXUHFDSLWDOFRPSDQ\RUYHQWXUHFDSLWDOIXQGXQGHUWKLV&KDSWHU

5) The income accruing or arising to or received by the venture capital

company or venture capital fund during a tax year from investments made in

venture capital undertaking, if not paid or credited to the person referred to in

sub-VHFWLRQ1), shall be deemed to have been credited to the account of the said

person––

a) on the last day of the tax year; and

b) in the same proportion in which such person would have been

enWLWOHGWRUHFHLYHWKHLQFRPHKDGLWEHHQSDLGLQWKHWD[\HDU

Tax on income

in case of

venture capital

XQGHUWDNLQJV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 253

254

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on income

of unit holder

and business

WUXVW

Tax on income

of investment

fund and its unit

KROGHUV

6) Any income which has been included in total income of the person

referred to in sub-VHFWLRQ1) in a tax year, on account of it having accrued or

arisen in the said tax year, shall not be included in the total income of such person

in the tax year in which such income is actually paid to him by the venture capital

FRPSDQ\RUWKHYHQWXUHFDSLWDOIXQG

7) Nothing contained in this section shall apply in respect of any income

accruing or arising to, or received by, a person from investments made in a

venture capital company or venture capital fund, being an investment fund

VSHFLILHGLQVHFWLRQ10a

8) For the purposes of this section, “venture capital company”, “venture

capital fund” and “venture capital undertaking” shall have the meanings respectively

assigned to WKHPLQ6FKHGXOH9Note 4)

223 1) Irrespective of anything contained in any other provisions of this

Act, any income distributed by a business trust to its unit holders shall be deemed

to be of the same nature and in the same proportion in the hands of the unit holder

DVLWKDGEHHQUHFHLYHGE\RUDFFUXHGWRWKHEXVLQHVVWUXVW

2) Subject to the provisions of sections 196, 197 and 198, the total income

of a business trust shall be charged to tD[DWWKHPD[LPXPPDUJLQDOUDWH

3) If in any tax year, the distributed income or any part thereof, received

by a unit holder from the business trust is of the nature as referred to in

Schedule 97DEOH6O1RRU7DEOH6O1R, then, such distributed income

or part thereof shall be deemed to be income of such unit holder and shall be

FKDUJHGWRWD[DVLQFRPHRIWKHWD[\HDU

4) The provisions of sub-VHFWLRQ1) shall not apply in respect of any sum

UHIHUUHGWRLQVHFWLRQ2kUHFHLYHGE\DXQLWKROGHUIURPDEXVLQHVVWUXVW

5) Any person responsible for making payment of the income distributed

on behalf of a business trust to a unit holder, shall furnish a statement to the unit

holder and the prescribed authority, within such time and in such form and

manner, as may be prescribed, giving the details of the nature of the income paid

during the tax year and such other details, as may be SUHVFULEHG

224 1) Irrespective of anything contained in any other provision of this

Act and subject to the provisions of this section, where a person, being a unit

holder of an investment fund, out of investments made in the investment fund,

receives any income or any income accrues or arises to him, such income shall

be chargeable to income-tax in the same manner as if, it were the income accruing

or arising to, or received by, such person, had the investments made by the

LQYHVWPHQWIXQGEHHQPDGHGLUHFWO\E\KLP

2) Where in any tax year, the net result of computation of total income

of the investment fund, without giving effect to the provisions of Schedule V

7DEOH6O1RLVDORVVXQGHUDQ\KHDGRILQFRPHDQGVXFKORVVFDQQRW

be or is not wholly set off against income under any other head of income of

the said tax year, then out of such loss,––

a) the loss arising to the investment fund as a result of the

computation under the head “Profits and gains of business or profession”,

if any, shall be—

i) allowed to be carried forward and it shall be set off by the

investment fund as per the provisions of Chapter VII; and

ii) ignored for the purposes of sub-VHFWLRQ1);

254 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b WKHORVVRWKHUWKDQWKHORVVUHIHUUHGWRLQFODXVHa), if any, shall

also be ignored for the purposes of sub-VHFWLRQ1), if such loss has arisen

in respect of a unit which has not been held by the unit holder for at least

WZHOYHPRQWKV

3) The loss other than the loss under the head “Profits and gains of business

or profession”, if any, accumulated at the level of investment fund as on the

31st March, 2019, shall be—

a) deemed to be the loss of a unit holder who held the unit on the

31st March, 2019 in respect of the investments made by him in the

investment fund, in the same manner as provided in sub-VHFWLRQ1); and

b) allowed to be carried forward by such unit holder for the

remaining period calculated from the year in which the loss had occurred

for the first time taking that year as the first year and shall be set off by him

LQDVSHUWKHSURYLVLRQVRI&KDSWHU9,,

4) The loss so deemed under sub-VHFWLRQ3) shall not be available to the

LQYHVWPHQWIXQGRQRUDIWHUWKHVW$SULO

5) The income paid or credited by the investment fund shall be deemed to

be of the same nature and in the same proportion in the hands of the person

referred to in sub-VHFWLRQ1), as if it had been received by, or had accrued or

arisen to, the investment fund during the tax year subject to the provisions of

sub-section 2

6) The total income of the investment fund shall be charged to tax—

a) at the rate or rates as specified in the Finance Act of the relevant

year, where such fund is a company or a firm; or

b DWPD[LPXPPDUJLQDOUDWHLQDQ\RWKHUFDVH

7) The income accruing or arising to, or received by, the investment fund,

during a tax year, if not paid or credited to the person referred to in

sub-VHFWLRQ1), shall subject to the provisions of sub-VHFWLRQ2), be deemed to

have been credited to the account of the said person on the last day of the tax year

in the same proportion in which such person would have been entitled to receive

WKHLQFRPHKDGLWEHHQSDLGLQWKHWD[\HDU

8) Any income, which has been included in total income of the person

referred to in sub-VHFWLRQ1) in a tax year, on account of it having accrued or

arisen in the said tax year, shall not be included in the total income of such person

in the tax year in which such income is actually paid to him by the investment

IXQG

9) The person responsible for crediting or making payment of the income on

behalf of an investment fund and the investment fund shall furnish, within such time,

as may be prescribed, to the person who is liable to tax in respect of such income and

to the prescribed income-tax authority, a statement in the prescribed form and

verified in such manner, giving details of the nature of the income paid or credited

during the tax year and such other relevant details, as may be presFULEHG

10) For the purposes of this section,—

a) “investment fund” means any fund established or incorporated in

India in the form of a trust or a company or a limited liability partnership

or a body corporate which has been granted a certificate of registration as

a Category I or a Category II Alternative Investment Fund and is regulated

under the––

i 6HFXULWLHV DQG ([FKDQJH %RDUG RI ,QGLD $OWHUQDWLYH

Investment Funds) Regulations, 2012 made under Securities and

Exchange Board of India Act, 1992; or

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 255

256

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Income from

business of operating

TXDOLI\LQJVKLSV

7RQQDJHWD[VFKHPH

ii ,QWHUQDWLRQDO)LQDQFLDO 6HUYLFHV&HQWUHV$XWKRULW\)XQG

Management) Regulations, 2022 made under the International

Financial Services Centres Authority Act, 2019;

b) “trust” means a trust established under the Indian Trusts Act, 1882

or under any other law in force; and

c) “unit” means beneficial interest of an investor in the investment

fund or a scheme of the investment fund and shall include shares or

SDUWQHUVKLSLQWHUHVWV

G.—Special provisions relating to income of shipping companies

225 ,UUHVSHFWLYHRIDQ\WKLQJFRQWDLQHGLQVHFWLRQVWR H[FHSWDQG

in the case of a company, the income from the business of operating qualifying

ships––

a) may, at its option, be computed as per provisions of this Part; and

b) such income shall be deemed to be the profits and gains of such

business chargeable to tax under the head “Profits and gains of business or

profession”.

226 1) In this Part, a company shall—

a) be regarded as operating a ship or inland vessel, as the case may

be, if it operates any ship or inland vessel, as the case may be, whether

owned or chartered by it and includes a case where even a part of the ship

or inland vessel, as the case may be, has been chartered in by it in an

arrangement such as slot charter, space charter or joint charter;

b) not be regarded as operating a ship or inland vessel, as the case

may be, which has been chartered out by it on bareboat charter-cum-demise

WHUPVRURQEDUHERDWFKDUWHUWHUPVIRUDSHULRGH[FHHGLQJWKUHH\HDUV

2) A tonnage tax company engaged in the business of operating qualifying

VKLSVVKDOOFRPSXWHWKHSURILWVIURPVXFKEXVLQHVVXQGHUWKHWRQQDJHWD[VFKHPH

3) The tonnage tax business shall be considered as a separate business

distinct from all other activities or busiQHVVFDUULHGRQE\WKHFRPSDQ\

4) The profits referred to in sub-VHFWLRQ2) shall be computed separately

IURPWKHSURILWVDQGJDLQVIURPDQ\RWKHUEXVLQHVV

5) The tonnage tax scheme shall apply only if an option to that effect is

made as per section

6) Where a company engaged in the business of operating qualifying

ships,––

a) is not covered under the tonnage tax scheme; or

b) has not made an option in respect of the tonnage tax scheme as per

section 231,

the profits and gains of such company from such business shall be computed as

SHURWKHUSURYLVLRQVRIWKLV$FW

7) Subject to the other provisions of this Part,––

a) the tonnage income, shall be––

i) computed as per section 227; and

ii) deemed to be the profits chargeable under the head “Profits

and gains of business or profession”; and

b WKHUHOHYDQWVKLSSLQJLQFRPHUHIHUUHGWRLQVHFWLRQ1) shall

QRWEHFKDUJHDEOHWRWD[

256 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

227 1) The tonnage income of a tonnage tax company for a tax year shall

be the aggregate of the tonnage income of each qualifying ship computed as per

sub-VHFWLRQV2DQG3

2) For the purposes of sub-VHFWLRQ 1), the tonnage income of each

qualifying ship shall be computed as per the following formula:––

TI= DTI x N

where,—

TI = the tonnage income of each qualifying ship;

DTI = the daily tonnage income of each qualifying ship;

N = the number of days in the tax year or in part of the tax year in

case the ship is operated by the company as a qualifying ship for only

SDUWRIWKHWD[\HDU

3) For the purposes of sub-VHFWLRQ 2), the daily tonnage income of a

qualifying ship having tonnage referred to in column B of the Table below shall

EHWKHDPRXQWVSHFLILHGLQWKHFRUUHVSRQGLQJHQWU\LQFROXPQ&WKHUHRI

Table

Qualifying ship having net tonnage

Amount of daily tonnage

income

Up to 1000

ൟ70 for each 100 tons

Exceeding 1000 but not more than

10000

ൟ700 plus ൟ53 for each

100 tons exceeding 1000

tons

Exceeding 10000 but not more than

25000

ൟ5470 plus ൟ42 for each

100 tons exceeding 10000

tons

Exceeding 25000

ൟ11770 plus ൟ29 for

each 100 tons exceeding

25000 WRQV

4) For the purposes of this Part of the Chapter, the tonnage shall—

a) mean the tonnage of a ship or inland vessel, as the case may be,

indicated in the certificate referred to in sub-VHFWLRQ9); and

b) include the deemed tonnage, being the tonnage in respect of an

arrangement of purchase of slots, slot charter and an arrangement of sharing

of break-bulk vessel, computed in the manner, as may be SUHVFULEHG

5) The tonnage shall be rounded off to the nearest multiple of hundred tons

and for this purpose any tonnage consisting of kilograms shall be ignored and if

the tonnage so rounded off is not a multiple of hundred, then, if the last figure in

that amount is,—

Computation of

WRQQDJHLQFRPH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 257

258

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Relevant shipping

income and

exclusion from book

SURILW

a) fifty tons or more, the tonnage shall be increased to the next higher

tonnage;

b) less than fifty tons, the tonnage shall be reduced to the next lower

tonnage,

which is a multiple of hundred and the tonnage so rounded off shall be the

tonnage of the shLSIRUWKHSXUSRVHVRIWKLVVHFWLRQ

6) No deduction or set off shall be allowed in computing the tonnage income

under this Part of the Chapter, irrespective of anything contained in any other

SURYLVLRQRIWKLV$FW

7) Where a qualifying ship is operated by two or more companies by way

of––

a) joint interest in the ship; or

b) an agreement for the use of the ship,

and their respective shares are definite and ascertainable, the tonnage income of

each such company shall be an amount equal to a share of income proportionate

WRLWVVKDUHRIWKDWLQWHUHVW

8) Subject to the provisions of sub-VHFWLRQ 7), where two or more

companies are operators of a qualifying ship, the tonnage income of each

company shall be computed as if each had beHQWKHRQO\RSHUDWRU

9) For the purposes of this Part,––

a) the tonnage of a ship or inland vessel, as the case may be, shall be

determined as per the valid certificate indicating its tonnage;

b) “valid certificate” means,—

i) in case of ships registered in India,—

A) having a length of less than twenty-four metres, a

FHUWLILFDWH LVVXHG XQGHU WKH 0HUFKDQW 6KLSSLQJ 7RQQDJH

Measurement of Ship) Rules, 1987 made under the Merchant

Shipping Act, 1958;

B) having a length of twenty-four metres or more, an

international tonnage certificate issued under the provisions of

the Convention on Tonnage Measurement of Ships, 1969, as

VSHFLILHGLQWKH0HUFKDQW6KLSSLQJ7RQQDJH0HDVXUHPHQWRI

Ship) Rules, 1987 made under the said Act;

ii) in case of ships registered outside India, a licence issued by

the Director-General of Shipping under section 406 or 407 of the

Merchant Shipping Act, 1958 specifying the net tonnage on the basis

of Tonnage Certificate issued by the Flag State Administration,

where the ship is registered or any other evidence acceptable to the

Director-General of Shipping produced by the ship owner while

seeking permission for chartering in the ship;

iii) in case of inland vessel registered in India, a certificate

issued under the Inland VHVVHOV$FW

228 1) For the purposes of this Part, the relevant shipping income of a

tonnage tax company means—

a) its profits from core activities referred to in sub-VHFWLRQ3); and

258 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) its profits from incidental activities referred to in sub-VHFWLRQ7

2) Where the aggregate of all such incomes specified in sub-VHFWLRQ1b)

H[FHHGVRIWKHWXUQRYHUIURPFRUHDFWLYLWLHVUHIHUUHGWRLQVXE-VHFWLRQ3),

such excess shall not form part of the relevant shipping income for the purposes

RIWKLV3DUWDQGVKDOOEHWD[DEOHXQGHUWKHRWKHUSURYLVLRQVRIWKLV$FW

3) The core activities of a tonnage tax company shall be—

a) its activities from operating qualifying ships; and

b) other ship-related or inland vessel related activities, as the case

may be, as follows:—

i) shipping contracts in respect of—

A) earning from pooling arrangements;

B) contracts of affreightment;

ii) specific shipping trades, being—

A) on-board or on-shore activities of passenger ships

comprising of fares and food and beverages consumed

on-board;

B) slot charters, space charters, joint charters, feeder

VHUYLFHVDQGFRQWDLQHUER[OHDVLQJRIFRQWDLQHUVKLSSLQJ

4) For the purposes of sub-VHFWLRQ3bi),––

a) “pooling arrangement” means an agreement between two or more

persons for providing services through a pool or operating one or more ships

or inland vessels as the case may be, and sharing earnings or operating profits

on the basis of mutually agreed terms;

b) “contract of affreightment” means a service contract under which

a tonnage tax company agrees to transport a specified quantity of specified

products at a specified rate, between designated loading and discharging

SRUWVRYHUDVSHFLILHGSHULRG

5) The Central Government, if it considers necessary or expedient so to

do, may, by notification, exclude any activity referred to in sub-section 3)b) or

prescribe the limit up to which such activities shall be included in the core

DFWLYLWLHVIRUWKHSXUSRVHVRIWKLVVHFWLRQ

6) Every notification issued under this Part shall be laid, as soon as may

be after it is issued, before each House of Parliament, while it is in session for a

total period of thirty days which may be comprised in one session or in two or

more successive sessions, and if, before the expiry of the session immediately

following the session or the successive sessions aforesaid, both Houses agree in

making any modification in the notification, or both Houses agree that the

notification should not be issued, the notification shall thereafter have effect only

in such modified form or be of no effect; so, however, that any such modification

or annulment shall be without prejudice to the validity of anything previously

GRQHXQGHUWKDWQRWLILFDWLRQ

7) The incidental activities shall be the activities which are incidental to

the core activities and as may be SUHVFULEHGIRUWKHSXUSRVH

8) Where a tonnage tax company operates any ship or inland vessels as the

case may be, which is not a qualifying ship, the income attributable to operating

such non-TXDOLI\LQJVKLSVKDOOEHFRPSXWHGXQGHURWKHUSURYLVLRQVRIWKLV$FW

9) Where any goods or services held for the purposes of—

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 259

260

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Depreciation and

gains relating to

tonnage tax assets

a) tonnage tax business are transferred to any other business carried

on by a tonnage tax company; or

b) any other business carried on by such tonnage tax company are

transferred to the tonnage tax business,

and, in either case, the consideration, if any, for such transfer as recorded in the

accounts of the tonnage tax business does not correspond to the market value of

such goods or services as on the date of the transfer, then, the relevant shipping

income under this section shall be computed as if the transfer, in either case, had

EHHQPDGHDWWKHPDUNHWYDOXHRIVXFKJRRGVRUVHUYLFHVDVRQWKDWGDWH

10) In sub-VHFWLRQ9), “market value”, in relation to any goods or services,

means the price that such goods or services would ordinarily fetch on sale in the

open market

11) Where, in the opinion of the Assessing Officer, the computation of the

relevant shipping income in the manner specified in sub-VHFWLRQ9) presents

exceptional difficulties, he may compute such income on such reasonable basis

DVKHFRQVLGHUVILW

12) Where it appears to the Assessing Officer that, owing to the close

connection between the tonnage tax company and any other person, or for any

other reason, the course of business between them is so arranged that the business

transacted between them produces to the tonnage tax company more than the

ordinary profits which might be expected to arise in the tonnage tax business, the

Assessing Officer shall, in computing the relevant shipping income of the

tonnage tax company for the purposes of this Part, take income as may

UHDVRQDEO\EHGHHPHGWRKDYHEHHQGHULYHGWKHUHIURP

13) In this Part, in case the relevant shipping income of a tonnage tax

company is a loss, then, such loss shall be ignored for the purposes of computing

WRQQDJHLQFRPH

14) Where a tonnage tax company also carries on any business or activity

other than the tonnage tax business, common costs attributable to the tonnage tax

EXVLQHVVVKDOOEHGHWHUPLQHGRQDUHDVRQDEOHEDVLV

15) Where any asset, other than a qualifying ship, is not exclusively used

for the tonnage tax business by the tonnage tax company, depreciation on such

asset shall be allocated between its tonnage tax business and other business on a

fair proportion to be determined by the Assessing Officer, having regard to the

use of such asset for the purposes of the tonnage tax business and for the other

EXVLQHVV

16) The book profit or loss derived from the activities of a tonnage tax

company, referred to in sub-VHFWLRQ1), shall be excluded from the book profit

of the company for tKHSXUSRVHVRIVHFWLRQ1)c)

229

1) For the purposes of computing depreciation under

VHFWLRQ1d), the depreciation for the first tax year of the tonnage tax scheme

KHUHLQUHIHUUHGWRDVWKHILUVWWD[\HDUVhall be computed on the written down

value of the qualifying ships as specified under sub-VHFWLRQ2

2) The written down value of the block of assets, being ships or inland

vessels, as the case may be, as on the first day of the first tax year, shall be divided

LQWKHUDWLRRIWKHERRNZULWWHQGRZQYDOXHRIWKHTXDOLI\LQJVKLSVKHUHLQUHIHUUHG

to as the qualifying assets) and the book written down value of the non-qualifying

VKLSVKHUHLQUHIHUUHGWRDVWKHRWKHUDVVHWVDVSHUWKHIROORZLQJIRUPXOD––

D = A x B

B+C

E = A x C

B+C

260 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

where,—

D = the written down value of the block of qualifying assets as on the

first day of the tax year;

E = the written down value of the block of other assets as on the first

day of the tax year;

A = the written down value of the existing block of assets, being ships

or inland vessel, as the case may be, as on the first day of the tax year;

B = the aggregate of book written down value of qualifying assets as

on the last day of the preceding tax year; and

C = the aggregate of the book written down value of other assets as

RQWKHODVWGD\RIWKHSUHFHGLQJWD[\HDU

3) The block of qualifying assets as determined under sub-VHFWLRQ2) shall

FRQVWLWXWHDVHSDUDWHEORFNRIDVVHWVIRUWKHSXUSRVHVRIWKLV3DUW

4) Where an asset forming part of a block of,—

a) qualifying assets begins to be used for purposes other than the

tonnage tax business, an appropriate portion of the written down value

allocable to such asset shall be reduced from the written down value of that

block and shall be added to the block of other assets as per the following

formula:—

A = B x C

where,––

A = the appropriate portion of the written down value

allocable to the asset which begins to be used for purposes other

than the tonnage tax business;

B = the written down value of block of qualifying assets

as on the first day of the tax year;

C = the book written down value of qualifying asset which

begins to be used for purpose other than the tonnage tax business;

and

D = the aggregate of book written down value of all the

assets forming the block of qualifying assets;

b) other assets, begins to be used for tonnage tax business, an

appropriate portion of the written down value allocable to such asset shall

be reduced from the written down value of the block of other assets and

shall be added to the block of qualifying asset as per the following

formula:—

E= F x G

where,—

E = the appropriate proportion of the written down value

allocable to the asset which begins to be used for purposes of

tonnage tax business;

F = the written down value of block of other assets as on

the first day of the tax year;

G = book written down value of the other asset which

begins to be used for tonnage tax business; and

I = the aggregate of book written down value of all the

DVVHWVIRUPLQJWKHEORFNRIRWKHUDVVHWV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 261

262

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Exclusion of

deduction, loss, set

off, HWF

5 )RUWKHSXUSRVHVRIFRPSXWLQJGHSUHFLDWLRQXQGHUVHFWLRQ1d) in

respect of an asset mentioned in sub-VHFWLRQV4aDQGb), the depreciation

computed for the tax year shall be allocated in the ratio of the number of days for

which the asset was used for the tonnage tax business and for purposes other than

WRQQDJHWD[EXVLQHVV

6) For the purposes of this Act, the depreciation on the block of qualifying

assets and block of other assets so created shall be allowed as if such written

down value referred to in sub-VHFWLRQ2) had been brought forward from the

SUHFHGLQJWD[\HDU

7) For the purposes of this section, the expression “book written down

value” means the written down value as per books of accounts.

8) Any profits or gains arising from the transfer of a capital asset being an

asset forming part of the block of qualifying assets shall be chargeable to

income-tax as per sections 67 and 74, and the capital gains so arising shall be

FRPSXWHGDVSHUVHFWLRQVWR

9) For the purposes of computing such profits or gains, as referred to in

sub-VHFWLRQ8), the provisions of section 74 shall have effect as if for the words

“written down value of the block of assets”, the words “written down value of

the block of qualifying assets” had been substituted.

10) For the purposes of this Chapter, the expression “written down value

of the block of qualifying assets” means the written down value computed as per

sub-VHFWLRQ2

230 1) Irrespective of anything contained in any other provision of this

Act, in computing the tonnage income of a tonnage tax company for any tax

\HDUKHUHin referred to as the “relevant tax year”) in which it is chargeable

to tax as per this Part—

a) sections 28 to 52 shall apply as if every loss, allowance or

deduction referred to therein and relating to or allowable for any of the

relevant tax years, had been given full effect to for that tax year itself;

b QR ORVV UHIHUUHG WR LQ VHFWLRQ 1 RU 2b) or 1091) or

1 RU 1), in so far as such loss relates to the business of

operating qualifying ships of the company, shall be carried forward or

set off where such loss relates to any of the tax years when the company

is under the tonnage tax scheme;

c) no deduction shall be allowed under Chapter VIII in relation to

the profits and gains from the business of operating qualifying ships; and

d) in computing the depreciation allowance under section 33, the

written down value of any asset used for the purposes of the tonnage tax

business shall be computed as if the company has claimed and has been

actually allowed the deduction in respect of depreciation for the relevant

WD[\HDUV

2) Section 112 shall apply in respect of any losses that have accrued to a

company before its option for tonnage tax scheme and which are attributable to

its tonnage tax business, as if such losses had been set off against the relevant

shipping income in any of the tax years when the company is under the tonnage

WD[VFKHPH

3) The losses referred to in sub-VHFWLRQ2) shall not be available for set off

against any income other than relevant shipping income in any tax year beginning

RQRUDIWHUWKHFRPSDQ\H[HUFLVHVLWVRSWLRQXQGHUVHFWLRQ

262 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

4) Any apportionment necessary to determine the losses referred to in

sub-VHFWLRQ2VKDOOEHPDGHRQDUHDVRQDEOHEDVLV

231 1) A qualifying company may opt for the tonnage tax scheme by

making an application to the Joint Commissioner having jurisdiction over the

company in the form and manner, as may be SUHVFULEHGIRUVXFKVFKHPH

2) A qualifying company may make an application within three months,

of the date of its incorporation, or of the date on which it becomes a qualifying

FRPSDQ\IRUWKHILUVWWLPH

3) A Unit of an International Financial Services Centre which has availed

of deduction under section 147 may make an application within three months

IURPWKHGDWHRQZKLFKVXFKGHGXFWLRQFHDVHV

4) On receipt of an application for option for tonnage tax scheme under

sub-VHFWLRQ 1), the Joint Commissioner may call for such information or

documents from the company as he thinks necessary in order to satisfy himself

about the eligibility of the company and after satisfying himself about such

eligibility of the company to make such option for tonnage tax scheme, he shall

pass an order in writing––

a) approving the option for tonnage tax scheme; or

b) refusing to approve the option for tonnage tax scheme, if he is not

so satisfied,

DQGDFRS\RIVXFKRUGHUVKDOOEHVHQWWRWKHDSSOLFDQW

5) No order under sub-VHFWLRQb) shall be passed unless the applicant has

bHHQJLYHQDUHDVRQDEOHRSSRUWXQLW\RIEHLQJKHDUG

6) Every order under sub-VHFWLRQ4) shall be passed before the expiry of

three months from the end of the quarter in which the application under

sub-VHFWLRQ1) was received

7) Where an order granting approval is passed under sub-VHFWLRQ4), the

provisions of this Part shall apply from the tax year in which the option for

WRQQDJHWD[VFKHPHLVH[HUFLVHG

8) An option for tonnage tax scheme, after it has been approved under

sub-VHFWLRQ4), shall remain in force for ten years from the date on which such

option has been exercised and shall be taken into account from the tax year in

ZKLFKVXFKRSWLRQLVH[HUFLVHG

9) An option for tonnage tax scheme shall cease to have effect from the

tax year, in which—

a) the qualifying company ceases to be a qualifying company;

b) a default is made in complying with the provisions contained in

VHFWLRQ1WR20);

c) the tonnage tax company is excluded from the tonnage tax scheme

under section 234;

d) the qualifying company furnishes to the Assessing Officer, a

declaration in writing to the effect that the provisions of this Part may not

be made applicable to it,

and the profits and gains of the company from the business of operating

TXDOLI\LQJVKLSVVKDOOEHFRPSXWHGDVSHURWKHUSURYLVLRQVRIWKLV$FW

10) An option for tonnage tax scheme approved under sub-VHFWLRQ4) may

be renewed within one year from the end of the tax year in which the option

FHDVHVWRKDYHHIIHFW

Method of

opting of

tonnage tax

scheme and

YDOLGLW\

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 263

264

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Certain conditions

for applicability of

WRQQDJHWD[VFKHPH

11) The provisions of sub-VHFWLRQV1WR9) shall apply in relation to a

renewal of the option for tonnage tax scheme in the same manner as they apply

LQUHODWLRQWRWKHDSSURYDORIRSWLRQIRUWRQQDJHWD[VFKHPH

12) A qualifying company,––

a) which on its own, opts out of the tonnage tax scheme; or

b) which makes a default in complying with the provisions contained

LQVHFWLRQV1WR20); or

c) whose option has been excluded from tonnage tax scheme in

SXUVXDQFHRIDQRUGHUPDGHXQGHUVHFWLRQ4),

shall not be eligible to opt for tonnage tax scheme for ten years from the date of

opting out or GHIDXOWRURUGHU

232 1) A tonnage tax company shall, subject to and as per the provisions

RIWKLVVHFWLRQEHUHTXLUHGWRFUHGLWWRDUHVHUYHDFFRXQWKHUHLQ referred to as the

Tonnage Tax Reserve Account) an amount, being 20% or more of the book profit

GHULYHGIURPWKHDFWLYLWLHVUHIHUUHGWRLQVHFWLRQ1aDQGb) in each tax

year to be utilised in the manner laid down in sub-VHFWLRQ6

2) For the purposes of this section, the expression “book profit” shall have

WKHPHDQLQJDVVLJQHGWRLWLQVHFWLRQ1)c) so far as it relates to the income

GHULYHGIURPWKHDFWLYLWLHVUHIHUUHGWRLQVHFWLRQ1aDQGb

3) Where the company has––

a) book profit from the business of operating qualifying ships; and

b) book loss from any other sources,

and consequently, the company is not in a position to create the full or any part

of the reserves under sub-VHFWLRQ1), the company shall create the reserves to the

extent possible in that tax year and the shortfall, if any, shall be added to the

reserves required to be created for the following tax year and such shortfall shall

EHGHHPHGWREHSDUWRIWKHUHVHUYHUHTXLUHPHQWRIWKDWIROORZLQJWD[\HDU

4) For the purposes of sub-VHFWLRQ3), to the extent the shortfall in creation

of reserves during a particular tax year is carried forward to the following tax

year under the said sub-section, the company shall be considered as having

FUHDWHGVXIILFLHQWUHVHUYHVIRUWKHILUVWPHQWLRQHGWD[\HDU

For the purposes of sub-VHFWLRQ 3), nothing contained in

sub-VHFWLRQ4) shall apply in respect of the second year in case the shortfall in

FUHDWLRQRIUHVHUYHVFRQWLQXHVIRUWZRFRQVHFXWLYHWD[\HDUV

6) The amount credited to the Tonnage Tax Reserve Account under

sub-VHFWLRQ1) shall be utilised by the company before the expiry of eight years

following the tax year in which the amount was credited—

a) for acquiring a new ship or new inland vessel, as the case may be,

for the purposes of the business of the company; and

b) until the acquisition of a new ship or new inland vessel, as the

case may be, for the purposes of the business of operating qualifying ships

other than for distribution by way of dividends or profits or for remittance

RXWVLGH,QGLDDVSURILWVRUIRUWKHFUHDWLRQRIDQ\DVVHWRXWVLGH,QGLD

264 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

7) Where any amount credited to the Tonnage Tax Reserve Account under

sub-VHFWLRQ1),—

a) has been utilised for any purpose other than that referred to in

sub-VHFWLRQ6); or

b) has not been utilised for the purpose specified in sub-VHFWLRQ6a); or

c) has been utilised for the purpose of acquiring a new ship or new

inland vessel, as the case may be, as specified in sub-VHFWLRQ6a), but such

ship or inland vessel, as the case may be, is sold or otherwise transferred, other

than in any scheme of demerger by the company to any person at any time

before the expiry of three years from the end of the tax year in which it was

acquired,

an amount which bears the same proportion to the total relevant shipping income of

the year in which such reserve was created, as the amount out of such reserve so

utilised or not utilised bears to the total reserve created during that year under

sub-VHFWLRQ1) shall be taxable under the other provisions of this Act—

i LQDFDVHUHIHUUHGWRLQFODXVHa), in the year in which the amount was

so utilised; or

ii LQDFDVHUHIHUUHGWRLQFODXVHb), in the year immediately following

eight years specified in sub-VHFWLRQ6); or

iii) in a case referred to LQFODXVHc), in the year in which the sale or

WUDQVIHUWRRNSODFH

8) The income so taxable under the other provisions of this Act, referred to

in sub-VHFWLRQ7), shall be reduced by the proportionate tonnage income charged to

tax in the year of creatiRQRIVXFKUHVHUYHV

9) Irrespective of anything contained in any other provision of this Part,

where the amount credited to the Tonnage Tax Reserve Account as per

sub-VHFWLRQ 1) is less than the minimum amount required to be credited under

sub-VHFWLRQ1), an amount which bears the same proportion to the total relevant

shipping income, as the shortfall in credit to the reserves bears to the minimum

reserve required to be credited under sub-VHFWLRQ1), shall not be taxable under the

WRQQDJHWD[VFKHPHDQGVKDOOEHWD[DEOHXQGHUWKHRWKHUSURYLVLRQVRIWKLV$FW

10) If the reserve required to be created under sub-VHFWLRQ1) is not created

for any two consecutive tax years, the option of the company for tonnage tax scheme

shall cease to have effect from the beginning of the tax year following the second

consecutive tax year in which the failure to create the reserve under sub-VHFWLRQ1)

KDGRFFXUUHG

11) For the purposes of this section, the expression “new ship” or “new inland

vessel”, as the case may be, includes a qualifying ship which, before the date of

acquisition by the qualifying company was used by any other person, if it was not

at any time previous to the date of such acquisition owned by any person resident in

,QGLD

12) A tonnage tax company, after its option has been approved under

section 2314), shall comply with the minimum training requirement in respect of

trainee officers as per the guidelines issued by the Director-General of Shipping and

QRWLILHGE\WKH&HQWUDO*RYHUQPHQW

13) The tonnage tax company shall be required to furnish a copy of the

certificate issued by the Director-General of Shipping along with the return of

income under section 263 to the effect that such company has complied with the

minimum training requirement as per the guidelines referred to in sub-VHFWLRQ12)

for the WD[\HDU

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 265

266

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Amalgamation

DQGGHPHUJHU

14) If the minimum training requirement is not complied with for any five

consecutive tax years, the option of the company for tonnage tax scheme shall cease

to have effect from the beginning of the tax year following the fifth consecutive tax

year in which the failure to comply with the minimum training requirement as per

sub-VHFWLRQ12KDGRFFXUUHG

15) In the case of every company which has opted for tonnage tax scheme,

not more than 49% of the net tonnage of the qualifying ships operated by it during

DQ\WD[\HDUVKDOOEHFKDUWHUHGLQ

16) The proportion of net tonnage referred to in sub-VHFWLRQ15) in respect of a

tax year shall be calculatHGEDVHGRQWKHDYHUDJHRIQHWWRQQDJHGXULQJWKDWWD[\HDU

17) For the purposes of sub-VHFWLRQ16), the average of net tonnage shall be

computed in such manner, as may be prescribed, in consultation with the Director-

*HQHUDORI6KLSSLQJ

18) Where the net tonnage of ships or inland vessel, as the case may be,

chartered in exceeds the limit under sub-VHFWLRQ15) during any tax year, the total

income of such company in relation to that tax year shall be computed as if the

option for tonnage tax VFKHPHGRHVQRWKDYHHIIHFWIRUWKDWWD[\HDU

19) Where the limit under sub-VHFWLRQ 15) had exceeded in any two

consecutive tax years, the option for tonnage tax scheme shall cease to have effect

from the beginning of the tax year following the second consecutive tax year in

ZKLFKWKHOLPLWKDGH[FHHGHG

20) For the purposes of this section, the expression “chartered in” shall

exclude a ship or inland vessel, as the case may be, chartered in by the company on

bareboat charter-cum-GHPLVHWHUPV

21) An option for tonnage tax scheme by a tonnage tax company shall not

have effect in relation to a tax year unless such company—

a) maintains separate books of account in respect of the business of

operating qualifying ships; and

b) furnishes, before the specified date referred to in section 63, the report

of an accountant, in the prescribed form, duly signed and verified by such

accountant

22 $WHPSRUDU\FHVVDWLRQDVDJDLQVWSHUPDQHQWFHVVDWLRQRIRSHUDWLQJDQ\

qualifying ship by a company shall not be considered as a cessation of operating of

such qualifying ship and the company shall be deemed to be operating such

TXDOLI\LQJVKLSIRUWKHSXUSRVHVRIWKLV3DUWRIWKH&KDSWHU

23) Where a qualifying company continues to operate a ship or inland vessel,

as the case may be, which temporarily ceases to be a qualifying ship, such ship or

inland vessel, as the case may be, shall not be deemed as a qualifying ship for the

SXUSRVHVRIWKLV3DUW

233 1) Where there has been an amalgamation of a company with another

company or companies, then, subject to the other provisions of this section, the

provisions relating to the tonnage tax scheme shall, as far as may be, apply to the

DPDOJDPDWHGFRPSDQ\LILWLVDTXDOLI\LQJFRPSDQ\

2) Where the amalgamated company is not a tonnage tax company, it shall

H[HUFLVHDQRSWLRQIRUWRQQDJHWD[VFKHPHXQGHUVHFWLRQ1) within three months

IURPWKHGDWHRIWKHDSSURYDORIWKHVFKHPHRIDPDOJDPDWLRQ

3) Where the amalgamating companies are tonnage tax companies, the

provisions of this Part shall, as far as may be, apply to the amalgamated company

for such period as the option for tonnage tax scheme which has the longest unexpired

SHULRGFRQWLQXHVWREHLQIRUFH

266 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

4) Where one of the amalgamating companies is a qualifying company as on

the 1st October, 2004 and which has not exercised the option for tonnage tax scheme

before the 1st January, 2005, the provisions of this Part shall not apply to the

amalgamated company and the income of the amalgamated company from the

business of operating qualifying ships shall be computed as per the other provisions

RIWKLV$FW

5) Where in a scheme of demerger, the demerged company transfers its

business to the resulting company before the expiry of the option for tonnage tax

scheme, then, subject to the other provisions of this Part, the tonnage tax scheme

shall, as far as may be, apply to the resulting company for the unexpired period, if

LWLVDTXDOLI\LQJFRPSDQ\

6) The option for tonnage tax scheme in respect of the demerged company

shall remain in force for the unexpired period of the tonnage tax scheme if it

FRQWLQXHVWREHDTXDOLI\LQJFRPSDQ\

234 1) Subject to the provisions of this Part, the tonnage tax scheme shall not

apply where a tonnage tax company is a party to any transaction or arrangement

which amounts to an abuse of WKHWRQQDJHWD[VFKHPH

2) For the purposes of sub-VHFWLRQ1), a transaction or arrangement shall be

considered an abuse, if the entering into or the application of such transaction or

arrangement results, or would but for this section have resulted, in a tax advantage

being obtained for—

a) a person other than a tonnage tax company; or

b) a tonnage tax company in respect of its non-WRQQDJHWD[DFWLYLWLHV

3) For the purposes of this section, “tax advantage” includes—

a) the determination of—

i) the allowance for any expense or interest; or

ii) any cost or expense allocated or apportioned,

which has the effect of reducing the income or increasing the loss, from

activities other than tonnage tax activities chargeable to tax, computed on the

basis of entries made in the books of account in respect of the tax year in which

the transaction was entered into; or

b) a transaction or arrangement which produces to the tonnage tax

company more than ordinary profits which might be expected to arise from

WRQQDJHWD[DFWLYLWLHV

4) Where a tonnage tax company is a party to any transaction or arrangement

referred to in sub-VHFWLRQ1), the Assessing Officer shall, by an order in writing,

H[FOXGHVXFKFRPSDQ\IURPWKHWRQQDJHWD[VFKHPH

5) The Assessing Officer shall pass an order under sub-VHFWLRQ4), after––

a) giving an opportunity to the company by serving a notice calling

upon such company to show cause, on a date and time to be specified in the

notice, why it should not be excluded from the tonnage tax scheme; and

b) obtaining prior approval of the Principal Chief Commissioner or

&KLHI&RPPLVVLRQHU

6) The provisions of this section shall not apply where the company satisfies

the Assessing Officer that the transaction or arrangement was a bona fide

commercial transaction and had not been entered into for the purpose of obtaining

WD[DGYDQWDJHXQGHUWKLV3DUW

Avoidance of tax

and exclusion

from tonnage tax

VFKHPH

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 267

268

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

,QWHUSUHWDWLRQ

7) Where an order has been passed under sub-VHFWLRQ4) by the Assessing

Officer excluding the tonnage tax company from the tonnage tax scheme, the option

for tonnage tax scheme shall cease to be in force from the first day of the tax year

in which the transaction or DUUDQJHPHQWZDVHQWHUHGLQWR

235 For the purposes of this Part,—

a) “bareboat charter” means hiring of a ship or inland vessel, as the case

may be, for a stipulated period on terms which give the charterer possession

and control of the ship or inland vessel, as the case may be, including the right

to appoint the master and crew;

b) “bareboat charter-cum-demise” means a bareboat charter where the

ownership of the ship or inland vessel, as the case may be, is intended to be

transferred after a specified period to the company to whom it has been chartered;

c) “Director-General of Shipping” means the Director-General of

6KLSSLQJ DSSRLQWHG E\ WKH &HQWUDO *RYHUQPHQW XQGHU VHFWLRQ 1) of the

Merchant Shipping Act, 1958;

d) “factory ship” includes a vessel providing processing services in

respect of processing of the fishing produce;

e) “fishing vessel” shall have the meaning assigned to it in section 3(12)

of the Merchant Shipping Act, 1958;

f) “inland vessel” shall have the meaning assigned to it in sectioQq)

of the Inland Vessels Act, 2021;

g) “pleasure craft” means a ship or inland vessel, as the case may be, of

a kind whose primary use is for the purposes of sport or recreation;

h) “qualifying company” means a company, if—

i) it is an Indian company;

ii) the place of effective management of the company is in India;

iii) it owns at least one qualifying ship; and

iv) the main object of the company is to carry on the business of

operating ships,

and for the purposes of sub-FODXVHii), “place of effective management of the

company” means—

A) the place where the board of directors of the company or its

executive directors, make their decisions; or

B) in a case where the board of directors routinely approve the

commercial and strategic decisions made by the executive directors or

officers of the company, the place where such executive directors or

officers of the company perform their functions;

i) “qualifying ship” means a ship or inland vessel, as the case may be, if—

i) it is a seagoing ship or vessel or inland vessel, as the case may

be, of fifteen net tonnage or more;

ii) it is a ship registered under the Merchant Shipping Act, 1958,

or a ship registered outside India in respect of which a licence has been

issued by the Director-General of Shipping under section 406 or 407 of

said Act or an inland vessel registered under the Inland Vessels

Act, 2021, as the case may be; and

iii) a valid certificate in respect of such ship or inland vessel, as the

case may be, indicating its net tonnage is in force,

268 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

but does not include—

A) a seagoing ship or vessel or inland vessel, as the case may be,

if the main purpose for which it is used is the provision of goods or

services of a kind normally provided on land;

B) fishing vessels;

C) factory ships;

D) pleasure crafts;

E) harbour and river ferries;

F) offshore installations; and

G) a qualifying ship which is used as a fishing vessel for more

than thirty days during a tax year;

j) “seagoing ship” means a ship, if it is certified as such by the

competent authority of any country;

k) “tonnage income” means the income of a tonnage tax company

computed as per the provisions of this Part of the Chapter;

l) “tonnage tax activities” means the activities referred to in section 2283)

DQG7);

m) “tonnage tax business” means the business of operating qualifying

VKLSVJLYLQJULVHWRUHOHYDQWVKLSSLQJLQFRPHDVUHIHUUHGWRLQVHFWLRQ1);

n) “tonnage tax company” means a qualifying company in relation to

which tonnage tax option is in force;

o) “tonnage tax scheme” means a scheme for computation of profits and

gains of business of operating qualifying ships under the provisions of this Part

CHAPTER XIV

TAX ADMINISTRATION

A.—Authorities, jurisdiction and functions

236 )RU WKH SXUSRVHV RI WKLV $FW WKHUH VKDOO EH WKH IROORZLQJ FODVVHV RI

income-tax authorities:—

a) the Central Board of Direct Taxes constituted under the Central

Boards of Revenue Act, 1963;

b) Principal Directors General of Income-tax or Principal Chief

Commissioners of Income-tax;

c) Directors General of Income-tax or Chief Commissioners of

Income-tax;

d) Principal Directors of Income-tax or Principal Commissioners of

Income-tax;

e) Directors of Income-tax or Commissioners of Income-tax or

Commissioners of Income-WD[$SSHDOV

f) Additional Directors of Income-tax or Additional Commissioners of

Income-tax or Additional Commissioners of Income-WD[$SSHDOV

g) Joint Directors of Income-tax or Joint Commissioners of Income-tax

or Joint Commissioners of Income-WD[$SSHDOV

h) Deputy Directors of Income-tax or Deputy Commissioners of

Income-tax;

Income-tax

DXWKRULWLHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 269

270

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Appointment of

income-tax

DXWKRULWLHV

Control of

income-tax

DXWKRULWLHV

Instructions to

subordinate

DXWKRULWLHV

i) Assistant Directors of Income-tax or Assistant Commissioners of

Income-tax;

j) Income-tax Officers;

k) Tax Recovery Officers; and

l) Inspectors of Income-WD[

237 1) The Central Government may appoint such persons as it thinks fit to

be income-WD[DXWKRULWLHV

2) The Central Government may, subject to the rules and its orders regulating

the conditions of service of persons in public services and posts, authorise the Board,

or a Principal Director General or Director General, or a Principal Chief

Commissioner or Chief Commissioner, or a Principal Director or Director, or a

Principal Commissioner or Commissioner, to appoint income-tax authorities below

the rank of a DHSXW\&RPPLVVLRQHURU$VVLVWDQW&RPPLVVLRQHU

3) Subject to the rules and orders of the Central Government regulating the

conditions of service of persons in public services and posts, an income-tax

authority authorised in this behalf by the Board, may appoint such executive or

PLQLVWHULDOVWDIIDVPD\EHQHFHVVDU\WRDVVLVWLWLQWKHH[HFXWLRQRILWVIXQFWLRQV

238 The Board may, by notification, direct that any income-tax authority or

authorities specified in the notification shall be subordinate to such other

income-WD[DXWKRULW\RUDXWKRULWLHVDVVSHFLILHGLQVXFKQRWLILFDWLRQ

239 1) The Board may issue such orders, instructions and directions to other

income-tax authorities as it considers fit for the proper administration of this Act,

and such authorities and all other persons employed in the execution of this Act shall

REVHUYHDQGIROORZVXFKRUGHUVLQVWUXFWLRQVDQGGLUHFWLRQV

2) No orders, instructions or directions under sub-VHFWLRQ 1) shall be

issued so as to—

a) require any income-tax authority to make a particular assessment or

to dispose of a particular case in a particular manner; or

b LQWHUIHUHZLWKWKHGLVFUHWLRQRIWKH-RLQW&RPPLVVLRQHU$SSHDOVRU

&RPPLVVLRQHU$SSHDOVLQWKHH[HUFLVHRIKLVDSSHOODWHIXQFWLRQV

3) Without prejudice to the generality of the foregoing power, the Board

may,—

a) if it considers it necessary or expedient so to do for the proper and

efficient management of the work of assessment and collection of revenue,

LVVXHIURPWLPHWRWLPHwhether by way of relaxation of any of the provisions

of sections 263, 270, 271, 279, 280, 287, 288, 3), 406, 407, 408, 423,

424, 425, 427, 428, 439, 448, 449 or otherwise), general or special orders in

respect of any class of incomes or class of cases,––

i VHWWLQJIRUWKGLUHFWLRQVRULQVWUXFWLRQVQRWEHLQJSUHMXGLFLDOWR

assessees) as to the guidelines, principles or procedures to be followed

by other income-tax authorities in the work relating to assessment or

collection of revenue or the initiation of proceedings for the imposition

of penalties; and

ii) any such order may, if the Board is of the opinion that it is

necessary in the public interest so to do, be published and circulated in

the prescribed manner for general information;

270 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) if it considers it desirable or expedient so to do for avoiding genuine

hardship in any case or class of cases, by general or special order, authorise

any income-WD[ DXWKRULW\ QRW EHLQJ D -RLQW &RPPLVVLRQHU $SSHDOV RU D

&RPPLVVLRQHU Appeals) to admit an application or claim any exemption,

deduction, refund or any other relief under this Act after the expiry of the

period specified in this Act for making such application or claim and deal with

the same on merits as per law;

c) if it considers it desirable or expedient so to do for avoiding genuine

hardship in any case or class of cases, by general or special order for reasons

to be specified therein, relax any requirement contained in any of the

provisions of Chapter IV or VIII, where the assessee has failed to comply with

any requirement specified in such provision for claiming deduction

thereunder, subject to the following conditions:—

i) the default in complying with such requirement was due to

circumstances beyond the control of the assessee; and

ii) the assessee has complied with such requirement before the

completion of assessment in relation to the tax year in which such

GHGXFWLRQLVFODLPHG

4) The Central Government shall cause every order issued under

sub-VHFWLRQ3cWREHODLGEHIRUHHDFK+RXVHRI3DUOLDPHQW

240 7KH%RDUGVKDOODGRSWDQGGHFODUHDTaxpayer’s Charter and issue such

orders, instructions, directions or guidelines to other income-tax authorities as it

considers fit for the administration RIVXFK&KDUWHU

241 1) The income-tax authorities shall exercise all or any of the powers and

perform all or any of the functions conferred on, or assigned to, such authorities

under this Act, as per such directions as the Board may issue for the exercise of the

SRZHUVDQGSHUIRUPDQFHRIWKHIXQFWLRQVE\DOORUDQ\RIWKRVHDXWKRULWLHV

2) Any income-tax authority, being an authority higher in rank, may, if so

directed by the Board, exercise the powers and perform the functions of an

income-tax authority lower in rank and any such direction issued by the Board shall

be deemed to be a direction issued under sub-VHFWLRQ1

3) The directions of the Board under sub-VHFWLRQ1) may authorise any other

income-tax authority to issue orders in writing for the exercise of the powers and

performance of the functions by all or any of the other income-tax authorities who

DUHVXERUGLQDWHWRLW

4) In issuing the directions or orders referred to in sub-VHFWLRQV12) DQG3),

the Board or other income-tax authority authorised by it may have regard to any one

or more of the following criteria:—

a) territorial area;

b) persons or classes of persons;

c) incomes or classes of income; and

d FDVHVRUFODVVHVRIFDVHV

5) Without prejudice to sub-VHFWLRQV 1 2 DQG 3), the Board may, by

general or special order, subject to such conditions, restrictions or limitations as

specified therein––

a) authorise any Principal Director General or Director General or

Principal Director or Director to perform such functions of any other

income-tax authority as may be assigned to him by the Board;

Taxpayer’s

&KDUWHU

Jurisdiction

income-tax

DXWKRULWLHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 271

272

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Jurisdiction of

Assessing

2IILFHUV

b) empower the specified income-tax authority to issue orders in writing

that the powers and functions conferred on, or assigned to, the Assessing

Officer under this Act in respect of any specified area, or persons or classes of

persons, or incomes or classes of income, or cases or classes of cases, shall be

exercised or performed by an Additional Commissioner or an Additional

'LUHFWRURUD-RLQW&RPPLVVLRQHURUD-RLQW'LUHFWRU

6) Where any order is made under sub-VHFWLRQ5b), references in any other

provision of this Act or in any rule made thereunder, to the Assessing Officer shall

be deemed to be references to such Additional Commissioner or Additional Director

or Joint Commissioner or Joint Director by whom the powers and functions are to

be exercised or performed under such order, and any provision of this Act requiring

DSSURYDORUVDQFWLRQRIWKH-RLQW&RPPLVVLRQHUVKDOOQRWDSSO\

7) The directions and orders referred to in sub-VHFWLRQV12DQG3) may,

wherever considered necessary or appropriate for the proper management of work,

UHTXLUHWZRRUPRUH$VVHVVLQJ2IILFHUVZKHWKHURUQRWRIWKHVDPHFODVVWRH[HUFLVH

and perform, concurrently, the powers and functions in respect of any area, or

persons or classes of persons, or incomes or classes of income, or cases or classes

of cases, and––

a) where such powers and functions are exercised and performed

concurrently by the Assessing Officers of different classes, any authority

lower in rank amongst them shall exercise the powers and perform the

functions as any higher authority amongst them may direct; and

b) references in any other provision of this Act or in any rule made

thereunder to the Assessing Officer shall be deemed to be references to such

higher authority and any provision of this Act requiring approval or sanction

RIDQ\VXFKDXWKRULW\VKDOOQRWDSSO\

8) Irrespective of anything contained in any direction or order issued under

this section, or in section 242, the Board may, by notification, issue any direction

for the purposes of furnishing of the return of income or the doing of any other act

or thing under this Act or any rule made thereunder by any person or class of

SHUVRQV

9) The income-tax authority exercising and performing the powers and

functions in relation to the person or class of persons referred to in

sub-VHFWLRQ 8) shall be such authority as specified in the notification issued

under that sub-section

242 1) Where an Assessing Officer has been vested with jurisdiction over

any area by virtue of any direction or order LVVXHGXQGHUVHFWLRQ1RU2RU3),

he shall have jurisdiction within the limits of such area,—

a) in respect of any person carrying on a business or profession, if the

place at which he carries on his business or profession is situated within the

area, or where his business or profession is carried on in more places than one,

if the principal place of his business or profession is situated within the

area; and

b LQUHVSHFWRIDQ\RWKHUSHUVRQUHVLGLQJZLWKLQWKHDUHD

2) Where a question arises under this section as to whether an Assessing

Officer has jurisdiction to assess any person, the question shall be determined by the

specified income-WD[DXWKRULW\

272 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

3) Where under this section, a question arises relating to areas within the

jurisdiction of different specified income-tax authorities, the question shall be

determined––

a) by the specified income-tax authorities concerned; or

b) by the Board or by such specified income-tax authority as the Board

PD\E\QRWLILFDWLRQVSHFLI\LQWKLVEHKDOILIWKH\DUHQRWLQDJUHHPHQW

4) No person shall call in question the jurisdiction of an Assessing Officer,––

a ZKHUHKHKDVPDGHDUHWXUQXQGHUVHFWLRQ1), after the expiry of

one month from the date on which he was served with a notice under

VHFWLRQ1RU8) or after the completion of the assessment, whichever

is earlier;

b) where he has made no such return, after the expiry of the time

DOORZHGE\WKHQRWLFHXQGHUVHFWLRQ1RU2) for the making of the

UHWXUQRUE\WKHQRWLFHXQGHUVHFWLRQ2) to show cause why the assessment

should not be completed to the best of the judgment of the Assessing Officer,

whichever is earlier;

c) where an action has been taken under section 247 or 248, after the

expiry of one month from the date on which he was served with a notice under

VHFWLRQ 1a) or after the completion of the assessment, whichever is

HDUOLHU

5) Subject to the provisions of sub-VHFWLRQ4), where an assessee calls in

question the jurisdiction of an Assessing Officer, then the Assessing Officer shall,

if not satisfied with the correctness of the claim, refer the matter for determination

under sub-VHFWLRQ2RU3EHIRUHWKHDVVHVVPHQWLVPDGH

6) Irrespective of anything contained in this section or in any direction or

order issued under section 241, every Assessing Officer shall have all the powers

conferred under this Act on an Assessing Officer in respect of the income accruing

or arising or received within the area, if any, over which he has been vested with

jurisdiction by virtue of the directions or orders issued under section 1) RU2)

RU3

243 1) The specified income-tax authority may transfer any case from one or

PRUH$VVHVVLQJ2IILFHUVVXERUGLQDWHWRKLPZKHWKHUZLWKRUZLWKRXWFRQFXUUHQW

MXULVGLFWLRQWRDQ\RWKHU$VVHVVLQJ2IILFHURU$VVHVVLQJ2IILFHUVZKHWKHUZLWKRU

ZLWKRXWFRQFXUUHQWMXULVGLFWLRQDOVRVXERUGLQDWHWRKLP

2) If the Assessing Officer or Assessing Officers, from whom the case is to

be transferred and the Assessing Officer or Assessing Officers, to whom the case is

to be transferred are not subordinate to the same specified income-tax authority, and

the concerned specified income-tax authorities––

a) are in agreement, then the specified income-tax authority from whose

jurisdiction the case is to be transferred may pass the order;

b) are not in agreement, the order transferring the case may be passed

by the Board or any such specified income-tax authority as the Board may, by

QRWLILFDWLRQVSHFLI\LQWKLVEHKDOI

3) The order of transfer under sub-VHFWLRQ1RU2) may be passed by the

specified income-tax authority after giving the assessee a reasonable opportunity of

being heard, wherever it is possible to do so DQGDIWHUUHFRUGLQJKLVUHDVRQVWKHUHIRU

Power to transfer

FDVHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 273

274

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Change of

incumbent of an

RIILFH

Faceless

jurisdiction of

income-tax

DXWKRULWLHV

4) Nothing in sub-VHFWLRQ1RU2RU3) shall be deemed to require any such

opportunity of being heard to be given, where the transfer is from any Assessing

2IILFHURU$VVHVVLQJ2IILFHUVZKHWKHUZLWKRUZLWKRXWFRQFXUUHQWMXULVGLFWLRQWR

DQ\ RWKHU $VVHVVLQJ 2IILFHU RU $VVHVVLQJ 2IILFHUV ZKHWKHU ZLWK RU ZLWKRXW

concurrent jurisdiction) and the offices of all such officers are situated in the same

FLW\ORFDOLW\RUSODFH

5) The transfer of a case under sub-VHFWLRQ1RU2) may be made at any

stage of the proceedings, and it shall not be necessary to re-issue any notice already

issued by the Assessing Officer or Assessing Officers from whom the case is

WUDQVIHUUHG

6) For the purposes of section 241 and this section, “case”, in relation to any

person whose name is specified in any order or direction issued thereunder, means

all proceedings under this Act in respect of any year, which may be pending on the

date of such order or direction or which may have been completed on or before such

date, and includes also all proceedings under this Act which may be commenced

after the date of such order or direction in respect of any year—

7) For the purposes of sections 241, 242 and this section, “specified

income-tax authority” means the Principal Director General or Director General or

Principal Chief Commissioner or Chief Commissioner or Principal Commissioner

RU&RPPLVVLRQHU

244 1) Whenever, in respect of any proceeding under this Act, an

income-tax authority ceases to exercise jurisdiction and is succeeded by another

who has and exercises jurisdiction, the income-tax authority so succeeding may

continue the proceeding from the stage at which the proceeding was left by his

SUHGHFHVVRU

2) Before the proceeding referred to in sub-VHFWLRQ1) is so continued, the

assessee concerned may demand that––

a) the previous proceeding or any part thereof be reopened; or

b KHEHUHKHDUGEHIRUHDQ\RUGHURIDVVHVVPHQWLVSDVVHGDJDLQVWKLP

245 1) The Central Government may, by notification, make a scheme for the

purposes of—

a) exercise of all or any of the powers and performance of all or any of

the functions conferred on, or assigned to, income-tax authorities under this

Act referred to in section 241;

vesting the jurisdiction with the Assessing Officer under

section 242; or

c) exercise of power to transfer cases under section 243; or

d) exercise of jurisdiction in case of change of incumbency under

VHFWLRQ

2) The scheme referred to in sub-VHFWLRQ1) shall be made to impart greater

efficiency, transparency and accountability by—

a) eliminating the interface between the income-tax authority and the

assessee or any other person, to the extent technologically feasible;

b) optimising utilisation of the resources through economies of scale

and functional specialisation;

274 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

c) introducing a team-based exercise of powers and performance of

functions by two or more income-tax authorities, concurrently, in respect of

any area, or persons or classes of persons, or incomes or classes of income, or

cases or classes of cases, with dynamic jurisdictiRQ

3) The Central Government may, for the purpose of giving effect to the

scheme made under sub-VHFWLRQ1), by notification, direct that any of the provisions

of this Act shall not apply or shall apply with such exceptions, modifications and

adaptations DVVSHFLILHGLQVXFKQRWLILFDWLRQ

4) Every notification issued under sub-VHFWLRQV1DQG3) shall, as soon as

PD\EHDIWHUWKHQRWLILFDWLRQLVLVVXHGEHODLGEHIRUHHDFK+RXVHRI3DUOLDPHQW

B.—Powers

246 1) The Assessing Officer, Joint Commissioner, Joint Commissioner

$SSHDOV&RPPLVVLRQHU$SSHDOV&RPPLVVLRQHURU3ULQFLSDO&RPPLVVLRQer, or

Chief Commissioner or Principal Chief Commissioner and the Dispute Resolution

3DQHOUHIHUUHGWRLQVHFWLRQ17a), shall, for the purposes of this Act, have the

same powers as are vested in a court under the Code of Civil Procedure, 1908, when

trying a suit in respect of the following matters:––

a) discovery and inspection;

b) enforcing the attendance of any person, including any officer of a

banking company and examining him on oath;

c) compelling the production of books of account and other

documents; and

d LVVXLQJFRPPLVVLRQV

2) The powers conferred under sub-VHFWLRQ 1) may also be exercised in

respect of any person or class of persons by the following income-tax authorities

HYHQZKHQWKHUHDUHQRSURFHHGLQJVSHQGLQJZLWKUespect to such person or class

of persons before them or any other income-tax authority):––

a) any income-WD[ DXWKRULW\ QRW EHORZ WKH UDQN RI $VVLVWDQW

Commissioner of Income-tax) notified by the Board in this behalf, for the

purposes of making any inquiry or investigation in respect of an agreement

referred to in section 159;

b) the Principal Director General or Director General or Principal

Director or Director or Joint Director or Assistant Director for the purposes of

making any inquiry or investigation in relation to any concealment of income,

if he has the reason to suspect that any income has been so concealed, or is

likely to be so concealed by such person or class of persons within his

jurisdiction; and

c) the authorised officer referred to in VHFWLRQ1), before taking action

XQGHUVHFWLRQ1i) to vii), or during the course of such action, if he has reason

to suspect that any income has been concealed, or is likely to be concealed by such

person or class of persons within his jurisdictLRQ

3) Any income-tax authority exercising the powers referred to in

sub-VHFWLRQV1DQG2) may, subject to the rules made in this behalf, impound and

retain in its custody for such period as it thinks fit any books of account or other

GRFXPHQWVSURGXFHGEHIRUHLWLQDQ\SURFHHGLQJXQGHUWKLV$FW

4) The Assessing Officer or the Assistant Director shall record the reasons

for impounding any books of account or other documents under sub-VHFWLRQ3) and

may retain such impounded books of account or other documents up to fifteen days

H[FOXVLYHRIKROLGD\VRUIRUVXFKIXUWKHUSHULRGZLWKWKHSrior sanction of the

DSSURYLQJDXWKRULW\

Power regarding

discovery,

production

HYLGHQFHHWF

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 275

276

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Search and

VHL]XUH

247 1) Where the competent authority, in consequence of information in his

possession, has reason to believe that—

a DQ\SHUVRQWRZKRPDVXPPRQVXQGHUVHFWLRQ1) or a notice

XQGHUVHFWLRQ1) of the Income-tax Act, 1961 or summons under section

1RUDQRWLFHXQGHUVHFWLRQ1) of this Act,––

I) was issued to produce, or cause to be produced, any books of

account or other documents, or any information in electronic form or on

a computer system, has omitted or failed to produce, or cause to be

produced, such books of account or other documents or such information

as required by such summons or notice; or

II) has been issued or might be issued, will not, or would not,

produce or cause to be produced, any books of account or other

documents, or any information in electronic form or on a computer

system which will be useful for, or relevant to, any proceedings under

the Income-tax Act, 1961 or this Act; or

b) any person is in possession of any asset or information in relation to

any asset and such asset represents either wholly or partly, income or property

which has not been, or would not be, disclosed, for the purposes of the

Income-WD[$FWRUWKH%ODFN0RQH\8QGLVFORVHG)RUHLJQ,QFRPHDQG

$VVHWVDQG,PSRVLWLRQRI7D[$FWRUWKLV$FWKHUHLQDIWHUUHIHUUHGWRDV

the undisclosed income or property),

then the approving authority may authorise any Joint Director or Joint

Commissioner or Assistant Director or Assistant Commissioner or Income-tax

Officer, or any Joint Director or Joint Commissioner, so authorised, may authorise

any Assistant Director or Assistant Commissioner or Income-tax OfficHU WKH

officer so authorised in all cases being herein referred to as the authorised officer)

to––

i) enter and search any building, place, vessel, vehicle, aircraft where

he has reason to suspect that such assets, books of account or other documents,

or such information in electronic form or on a computer system are kept;

ii) require any person, who is found to be in possession or control of

any books of account or other documents maintained in the form of electronic

record or any information in electronic form or on a computer system, to afford

the authorised officer with such reasonable technical and other assistance

LQFOXGLQJ DFFHVV FRGHE\ZKDWHYHU QDPH FDOOHGDVPD\ EH QHFHVVDU\ WR

enable the authorised officer to inspect such books of account or other

documents or such information;

iii) break open the lock of any door, box, locker, safe, almirah, or other

receptacle or override the access code to any computer system for exercising

WKHSRZHUVFRQIHUUHGE\FODXVHi) where the keys thereof are, or the access to

VXFKEXLOGLQJSODFHHWFRUWKHDFFHVVFRGHWRVXFKFRPSXWHUV\VWHPDVWKH

case may be, is not available;

iv) search any person who has got out of, or is about to get into, or is in,

the building, place, vessel, vehicle or aircraft, if the authorised officer has

reason to suspect that such person has secreted about his person any such

books of account, other documents, any information in electronic form, or a

computer systems or asset;

v) place marks of identification on any books of account or other

documents, or make or cause to be made extracts or copies therefrom and also

from computer system;

vi) make a note or an inventory of any such asset, and stock-in-trade of

the business, found as a result of such search;

22 of 2015

276 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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vii) seize any such books of account, other documents, computer

V\VWHPVRUDVVHWRWKHUWKDQVWRFN-in-trade of the business), found as a result

RIVXFKVHDUFK

2) If any building, place, vessel, vehicle or aircraft referred to in

sub-VHFWLRQ 1i) is within the area of jurisdiction of any Principal Chief

Commissioner

or Chief

Commissioner

Principal

Commissioner

Commissioner, but such income-tax authority has no jurisdiction over the person

referred to in sub-secWLRQ1aRUb), then, irrespective of the fact that he has no

jurisdiction, it shall be competent for such income-tax authority to exercise the

powers under sub-VHFWLRQ1), where he has reason to believe that any delay in

getting the authorisation from the Principal Chief Commissioner or Chief

Commissioner or Principal Commissioner or Commissioner having jurisdiction

RYHUVXFKSHUVRQPD\EHSUHMXGLFLDOWRWKHLQWHUHVWVRIWKHUHYHQXH

3) If any Principal Chief Commissioner or Chief Commissioner or Principal

Commissioner or Commissioner, in consequence of information in his possession,

has reason to suspect that any books of account, other documents, or any

information in electronic form or on a computer system, or asset in respect of which

an officer has been authorised by the competent authority to take action under

sub-VHFWLRQV1iWRvii) are or is kept in any building, place, vessel, vehicle or

aircraft not mentioned in the authorisation under sub-VHFWLRQ1), then such Principal

Chief Commissioner or Chief Commissioner or Principal Commissioner or

Commissioner may, irrespective of anything contained in section 241, authorise the

said officer to take action under any of the sub-VHFWLRQV1iWRvii) in respect of

such building, SODFHYHVVHOYHKLFOHRUDLUFUDIW

4ai) The authorised officer may serve an order on the owner or the person,

who is in immediate possession or control of any valuable article or thing, other than

stock-in-trade of the business not to remove, part with or otherwise deal with it,

except with the previous permission of such authorised officer, where it is not

possible or practicable to take physical possession of such valuable article or thing

and remove it to a safe place due to its volume, weight, or other physical

characteristics or due to its being of a dangerous nature; and

ii) such action of the authorised officer shall be deemed to be seizure of such

valuable article or thing under sub-VHFWLRQ1vii);

bi) the authorised officer may, where it is not practicable to seize, any books

of account, other documents, asset, bank locker, bank account, or computer system,

IRUUHDVRQVRWKHUWKDQPHQWLRQHGXQGHUFODXVHa), serve an order on the owner or

the person who is in immediate possession or control thereof, not to remove, part

with or otherwise deal with it except with the previous permission of such officer

and such authorised officer may also take such steps as may be necessary for

ensuring compliance with this clause;

ii) such order shall not remain in force for a period exceeding sixty days from

the date of the order; and

iii) serving of such order shall not be deemed to be seizure of such books of

account, other documents, asset, bank locker, bank account or computer system

under sub-VHFWLRQ1vii

5) The authorised officer may requisition the services of,—

a) any police officer or any officer of the Central Government, or of

both; or

b) any person or entity as may be approved by the Principal Chief

Commissioner or the Chief Commissioner or the Principal Director General

or the Director General, in accordance with such procedure, as may be

prescribed, in this regard,

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 277

278

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

to assist him for all or any of the purposes specified in sub-VHFWLRQV1DQG3) and

it shall be the duty of every such officer or person or entity to comply with such

UHTXLVLWLRQ

6) The authorised officer may, during the course of any search or seizure,

examine on oath any person who is found to be in possession or control of any books

of account or other documents, or asset, or any information in electronic form or on

a computer system or having access to such computer system or any other person

who is present in the premises or is being searched, and––

a) any statement made by such person, during such examination may

thereafter be used in evidence in any proceeding under the Income-tax

Act, 1961 or this Act; and

b) the examination of any such person may not be merely in respect of

any books of account or other documents, or any information in electronic form

or on a computer system, or assets found as a result of the search, but also in

respect of all matters relevant for the purposes of any investigation connected

with any proceeding under the Income-WD[$FWRUWKLV$FW

7) Where any person is found to be in possession or control of any books of

account or other documents, or asset, or any information in electronic form or on a

computer system, or having access to such computer system in the course of a search,

it may be presumed—

a) that such books of account or other documents, or such information

or asset or computer system belong or belongs to such person;

b) that the contents of such books of account or other documents, or such

information or computer system are true;

c) that the signature and every other part of such books of account or other

documents which purport to be in the handwriting of any particular person or

which may reasonably be assumed to have been signed by, or to be in the

handwriting of, any particular person, are in the handwriting of that person;

d) in the case of such document stamped, executed or attested, that it

was duly stamped and executed or attested by the person by whom it purports

to have been so executed or attested; and

e) that exchange of such information in electronic form, or on such

computer system purported to be exchanged between any parties, is exchanged

betweHQWKHSDUWLHVWKHUHWR

8) The authorised officer may, by order in writing, provisionally attach any

property belonging to the assessee, during the course of the search or seizure, or

within a period of sixty days from the date of execution of the last of the

authorisations for the search and such provisional attachment shall––

a) be made, if the authorised officer is satisfied, after recording the

reasons in writing, that it is necessary to do so in the interest of the revenue,

with the prior approval of Principal Director General or Director General or the

Principal Director or Director; and

b) be valid for six months from the end of the month in which the order

of provisional attachment is made, and the rules in this behalf made under

section 413 shall, mutatis mutandisDSSO\WRVXFKSURYLVLRQDODWWDFKPHQW

9) The authorised officer may, during the course of the search or seizure, or

within sixty days from the date on which the last of the authorisations for search was

executed, make a reference to a Valuation Officer, or any person registered as a valuer

under section 514, or any person or entity registered by or under any law in force, as

may be approved by the Principal Chief Commissioner or the Chief Commissioner or

the Principal Director General or the Director General, in accordance with the

procedure as may be prescribed in this regard, requiring him to—

43 of

278 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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a) estimate the fair market value of the property in the manner, as may

be prescribed; and

b) submit a report of the estimate to the authorised officer or the Assessing

2IILFHUZLWKLQVL[W\GD\VIURPWKHGDWHRIUHFHLSWRIVXFKUHIHUHQFH

10) The provisions of the Bharatiya Nagarik Suraksha Sanhita, 2023 relating

to searches and seizure shall apply, so far as may be, to search and seizure under

WKLVVHFWLRQ

11) The Board may make rules in relation to any search or seizure under this

section including providing for the procedure to be followed by the authorised officer—

a) for obtaining ingress into any building, place, vessel, vehicle or

aircraft to be searched where free ingress thereto is not available; and

b) for ensuring safe custody of any books of account or other

documents, or asset, or any information in electronic form or on a computer

V\VWHPRUFRPSXWHUV\VWHPVHL]HG

12) For the purposes of this section, the word “proceeding” means any

proceeding in respect of any year, whether under the Income-tax Act, 1961, or this

Act, which may be pending on the date on which a search is authorised under this

section or which may have been completed on or before such date and includes also

all proceedings under this Act which may be commenced after such date in respect

RIDQ\\HDU

248 1) Where the approving authority, in consequence of information in his

possession, has reason to believe that—

a DQ\SHUVRQWRZKRPDVXPPRQVXQGHUVHFWLRQ1) or a notice

XQGHU VHFWLRQ 1) of the Income-tax Act, 1961 or summons under

VHFWLRQ 1 RU QRWLFH XQGHU VHFWLRQ 1) of this Act was issued to

produce, or cause to be produced, any books of account or other documents,

or any information in electronic form or on a computer system has omitted or

failed to produce, or cause to be produced, such books of account or other

documents, or such information as required by such summons or notice and

the said books of account or other documents, or any computer system

containing the said information have been taken into custody by any officer or

authority under any other law for the time being in force; or

b) any books of account or other documents, or any information in

electronic form or on a computer system will be useful for, or relevant to, any

proceeding under the Income-tax Act, 1961 or this Act and any person to

whom a summons or notice as aforesaid has been or might be issued will not,

or would not, produce or cause to be produced, such books of account or other

documents, or such information on the return of such books of account or

other documents or computer system containing such information by any

officer or authority by whom or by which such books of account or other

documents or computer system containing the said information have been

taken into custody under any other law for the time being in force; or

c) any assets represent either wholly or partly income or property which

has not been, or would not have been, disclosed for the purposes of the

Income-tax Act, 1961 or this Act by any person from whose possession or

control such assets have been taken into custody by any officer or authority

under any other law for the time being in force,

then, the approving authority may authorise any, Joint Director or Joint

Commissioner or Assistant Director or Assistant Commissioner or Income-tax

2IILFHUKHUHLQDQGLQVHFWLRQ2) referred to as the requisitioning officer) to

UHTXLUHWKHRIILFHURUDXWKRULW\UHIHUUHGWRLQFODXVHaRUbRUc), to deliver such

assets or books of account or other documents, or computer system containing such

LQIRUPDWLRQWRWKHUHTXLVLWLRQLQJRIILFHU

Powers to

UHTXLVLWLRQ

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 279

280

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Reasons not to

EHGLVFORVHG

Application of

seized or

requisitioned

DVVHWV

2) On a requisition being made under sub-VHFWLRQ1), the officer or authority

UHIHUUHGWRLQFODXVHaRUbRUc), of that sub-section, shall deliver such assets or

books of account or other documents, or computer system containing such information

to the requisitioning officer either forthwith or when such officer or authority is of the

RSLQLRQWKDWLWLVQRORQJHUQHFHVVDU\WRUHWDLQWKHVDPHLQKLVRULWVFXVWRG\

3) Where any assets or books of account or other documents, or computer system

containing such information have been delivered to the requisitioning officer, the

SURYLVLRQVRIVHFWLRQV4b7WR11), 250 and 251 shall, so far as may be, apply

as if such books of account or other documents, or computer system containing such

information or assets had been seized under section 247 by the requisitioning officer from

the custody of the person referred to in sub-VHFWLRQ1aRUbRUc), and as if for the

words “the authorised officer”, occurring in any of the sections 247(4b7WR11),

250 and 251, the words “the requisitioning officer” were substituted.

249 7KHUHDVRQWREHOLHYHRUUHDVRQWRVXVSHFWDVUHIHUUHGWRLQVHFWLRQ

or 248, recorded by the income-tax authority shall not be disclosed to any person or

DXWKRULW\RUWKH$SSHOODWH7ULEXQDO

250 1) The amount of the following liabilities may be recovered out of the assets

seized under section 247 or requisitioned under section 248 in the following manner,

namely:—

a WKHDPRXQWRIDQ\H[LVWLQJOLDELOLW\RWKHUWKDQDGYDQFHWD[SD\DEOHWKH

provisions of Part C of Chapter XIX) this Act, the Income-tax Act, 1961, the Black

0RQH\ 8QGLVFORVHG )RUHLJQ ,QFRPH DQG $VVHWV DQG ,PSRVLWLRQ RI 7D[

Act, 2015 and in respect of which such person is in default or is deemed to be in

default;

b) the amount of the liability determined on completion of the assessment

or reassessment or recomputation and the assessment of the year relevant to the

tax year in which search is initiated or requisition is made, or the amount of

liability determined on completion of the assessment under Part B of Chapter XVI

IRUWKHEORFNSHULRGDVWKHFDVHPD\EHLQFOXGLQJDQ\SHQDOW\OHYLHGRULQWHUHVW

payable in connection with such assessment), and in respect of which such person

is in default or is deemed to be in default;

c) the amount of liability arising on an application made before the Interim

%RDUGVIRU6HWWOHPHQWXQGHUVHFWLRQ&1) of the Income-WD[$FW

2) The Assessing Officer may release the assets seized as referred to in

sub-VHFWLRQ1) or portion of such asset to the person from whose custody the assets

were seized, on an application made by the person concerned within thirty days from

the end of the month in which the asset was seized, on fulfilment of the following

requirements:––

a) after being satisfied on the basis of explanation furnished by such

person that the nature and source of acquisition of such assets is explained;

b) after recovering any existing liability referred to in sub-VHFWLRQ1)

out of such assets; and

c) after obtaining prior approval of the Principal Chief Commissioner

RU&KLHI&RPPLVVLRQHURU3ULQFLSDO&RPPLVVLRQHURU&RPPLVVLRQHU

3) The assets referred to in sub-VHFWLRQ 2) shall be released within one

hundred and twenty days from the date on which the last of the authorisations for

WKHVHDUFKRUUHTXLVLWLRQZDVH[HFXWHG

4) If the assets as referred to in sub-VHFWLRQ1) consist solely of money, or

partly of money and partly of other assets, the Assessing Officer may apply such

money in the discharge of the liabilities referred to in sub-VHFWLRQ 1) and the

assessee shall be discharged of such liability to the extent of the money so apSOLHG

43 of 1961

280 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

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7+(*$=(77(2),1',$(;75$25',1$5<

5) The assets, other than money, may also be applied for discharge of liabilities

referred to in sub-VHFWLRQ1), as remains undischarged, and shall be deemed to be under

distraint as if such distraint was effected by the Assessing Officer or Tax Recovery Officer

under authorisation from the Principal Chief Commissioner or Chief Commissioner or

Principal Commissioner RU&RPPLVVLRQHUXQGHUVHFWLRQ7) and the recovery of any

liability out of such assets shall be effected in such manner as may be SUHVFULEHG

6) The mode of recovery of liabilities under sub-VHFWLRQ1) shall not preclude

the recovery of liabilities aIRUHVDLGE\DQ\RWKHUPRGHODLGGRZQLQWKLV$FW

7) Any assets or proceeds thereof, which remain after the liabilities referred

to in sub-VHFWLRQ1) are discharged shall be forthwith made over or paid to the

person from where custody the assets were sei]HG

8 7KH&HQWUDO*RYHUQPHQWVKDOOSD\VLPSOHLQWHUHVWDWWKHUDWHRIIRU

every month or part of a month for the period on the amount determined in

accordance with the following formula:––

$-%&-D)

where—

A = the aggregate amount of money seized under section 247 or

requisitioned under section 248;

B = the amount of money, if any, released under sub-VHFWLRQ2);

C = the proceeds, if any, of the assets sold towards the discharge

of the liability under sub-VHFWLRQ1); and

D = the aggregate amount required to meet the liabilities referred

to in sub-VHFWLRQ1

9) The period referred to in sub-VHFWLRQ8) shall be from the date immediately

following the expiry of one hundred and twenty days from the date on which the

last of the authorisations for the search under section 247 or requisition under

section 248 was executed to the date of completion of the assessment or

UHDVVHVVPHQWRUUHFRPSXWDWLRQ

251 1:KHUHWKHDXWKRULVHGRIILFHUUHIHUUHGWRLQVHFWLRQ1) has no

jurisdiction over the SHUVRQ UHIHUUHG WR LQ VHFWLRQ 1a RU b), assets and

PDWHULDOVHL]HGRUUHTXLVLWLRQHGXQGHUVHFWLRQ1WR4) shall be handed over

to the Assessing Officer having jurisdiction over such person within a period of one

hundred and eighty days from the date on which a search is initiated under

section 247 or requisition is made under section 248 and such Assessing Officer

thereupon shall exercise the powers under sub-VHFWLRQV2DQG3

2) The authorised officer shall, on an application made by the person from

ZKRVHFXVWRG\DQ\PDWHULDOVHL]HGRUUHTXLVLWLRQHGDUHVHL]HGXQGHUVHFWLRQ1)

WR 4), allow such person, in the presence of such officer or any other person

empowered by such officer in this behalf, to make copies thereof or take extracts

WKHUHIURPDWVXFKSODFHDQGWLPHDVDSSRLQWHGE\VXFKRIILFHU

3) The authorised officer may––

a) retain the assets and material seized or requisitioned, under

section 247 or 248, up to one month from the end of the quarter in which the

order of assessment or reassessment or recomputation is made under

VHFWLRQ10RUVHFWLRQRUVHFWLRQRUVHFWLRQ1c);

b) retain such assets and material seized or requisitioned, beyond the

SHULRGVSHFLILHGLQFODXVHa), after recording reasons in writing and obtaining

DSSURYDOIURPWKHDSSURYLQJDXWKRULW\

4) The approving authority shall not allow the retention of assets and material

seized or requisitioned, beyond thirty days from the date on which all the

proceedings under the Income-tax Act, 1961 or this Act in respect of the years for

ZKLFKWKHDVVHWVDQGPDWHULDOVHL]HGRUUHTXLVLWLRQHGDUHUHOHYDQWDUHFRPSOHWHG

Copying,

extraction,

retention and

release of books

of account and

documents

seized or

UHTXLVLWLRQHG

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 281

282

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Power to call for

LQIRUPDWLRQ

5) If a person legally entitled to the assets and material seized or

UHTXLVLWLRQHGXQGHUVHFWLRQ1WR4) or section 248, objects for any reason, to

the approval given by approving authority under sub-VHFWLRQ3b), he may make

an application to the Board stating therein the reasons for such objection and

requesting for the return of the assets and material seized or requisitioned and the

Board may, after giving the applicant an opportunity of being heard, pass such

RUGHUVDVLWWKLQNVILW

252 1) The Assessing Officer, the Joint Commissioner or the Joint

&RPPLVVLRQHU$SSHDOVRUWKH&RPPLVVLRQHU$SSHDOVPD\IRUWKHSXUSRVHV

of this Act, require any—

a) person, including a banking company or any officer thereof, to

furnish, within such time, requisite information or to furnish statements of

account and affairs verified in such manner specified by such authority,

giving such information in relation to such matters as, in the opinion of such

authority, will be useful for, or relevant to, any enquiry or proceedings under

this Act;

b) firm to furnish him with a return of the names and addresses of the

partners of the firm and their respective shares;

c) Hindu undivided family to furnish him with a return of the names

and addresses of the manager and the members of the family;

d) person whom he has reason to believe to be a trustee, guardian or

agent, to furnish him with a return of the names of the persons for or of

whom he is trustee, guardian or agent, and of their addresses;

e) assessee to furnish a statement of the names and addresses of all

persons to whom he has paid in any tax year, rent, interest, commission,

UR\DOW\EURNHUDJHRUDQ\DQQXLW\QRWEHLQJDQ\DQQXLW\WD[DEOHXQGHr the

head “Salaries”), amounting to more than ൟ10000, or such higher amount

as may be prescribed, together with particulars of all such payments made;

f) dealer, broker or agent or any person concerned in the

management of a stock or commodity exchange to furnish a statement of

the names and addresses of all persons to whom he or the exchange has

paid any sum in connection with the transfer, whether by way of sale,

exchange or otherwise, of assets, or on whose behalf or from whom he or

the exchange has received any such sum, together with particulars of all

VXFKSD\PHQWVDQGUHFHLSWV

2) The powers conferred under sub-VHFWLRQ1a) may also be exercised by

WKHFRPSHWHQWDXWKRULW\RUWKH$VVLVWDQW'LUHFWRU

3) The powers under sub-VHFWLRQ1)––

a) shall not be exercised by any income-tax authority below the rank

of Principal Director or Director or Principal Commissioner or

Commissioner, other than the Joint Director or Assistant Director, without

the prior approval of the Principal Director or Director or, as the case may

be, the Principal Commissioner or Commissioner, in a case where no

proceeding is pending;

b) may be exercised by an income-tax authority notified under

VHFWLRQ 2a), for the purposes of an agreement referred to in

section 159, even if no proceedings are pending before it or any other

income-WD[DXWKRULW\

282 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

253. 1) Irrespective of anything contained in any other provision of this

Act, an income-tax authority may enter any place at which a business or

profession, or activity for charitable purpose is carried on, whether such place be

the principal place or not of such business or profession or of such activity for

charitable purpose, where such place—

a) is within the limits of the area assigned to such authority; or

b) is occupied by any person in respect of whom such authority

exercises jurisdiction; or

c) in respect of which such authority is authorised for the purposes of

this section by income-tax authority, who is assigned the area within which

such place is situated or who exercises jurisdiction in respect of any person

occupying such place,

and, upon entry into such a place, may require any proprietor, trustee, employee

or any other person who may at that time and place be attending in any manner

to, or helping in, the carrying on of such business or profession or such activity

for charitable purpose—

i WRSURYLGHWKHQHFHVVDU\WHFKQLFDODQGRWKHUDVVLVWDQFHLQFOXGLQJ

access code) to enable the inspection of such books of account or other

documents, or information in electronic form or on a computer system, as

may be required and which may be available at such place;

ii) to provide the necessary facility to check or verify the asset, stock,

which may be found therein; and

iii) to furnish such information as such authority may require as to any

PDWWHUZKLFKPD\EHXVHIXOIRURUUHOHYDQWWRDQ\SURFHHGLQJXQGHUWKLV$FW

2) For the purposes of this section, a place where a business or profession, or

activity for charitable purpose is carried on shall also include any other place, whether

any business or profession or activity for charitable purpose is carried on therein or

not, in which the person carrying on such business or profession or activity for

charitable purpose states that any of his books of account or other documents or any

part of his cash or stock or other valuable article or thing or computer system relating

WRVXFKEXVLQHVVRUSURIHVVLRQRUDFWLYLW\IRUFKDULWDEOHSXUSRVHDUHRULVNHSW

3) An income-tax authority may enter any place of business or profession

or activity for charitable purpose referred to in sub-sections 1 DQG 2), only

during the hours at which such place is open for the conduct of business or

profession or activity for charitable purpose and, in the case of any other place,

RQO\DIWHUVXQULVHDQGEHIRUHVXQVHW

4) An income-tax authority may, for the purposes of verifying that tax has

been deducted or collected at source as per the provisions of Chapter XIX-B of

this Act, after sunrise and before sunset, enter––

a) any office, or any other place where business or profession or

activity for charitable purpose is carried on, within the limits of the area

assigned to such authority; or

b) any place in respect of which such authority is authorised for the

purposes of this section by an income-tax authority who is assigned the area

within which such place is situated or where books of account or documents,

or computer system are kept,

and on entry to such office or place, the income-tax authority may require the

deductor or the collector or any other person who may at that time and place be

attending in any manner to such work—

Powers of

VXUYH\

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 283

284

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

i) WRSURYLGHWKHQHFHVVDU\WHFKQLFDODQGRWKHUDVVLVWDQFHLQFOXGLQJ

access code) to enable the inspection of such books of account or other

documents, or information in electronic form or on a computer system, as

may be required and which may be available at such place; and

iiWRIXUQLVKVXFKLQIRUPDWLRQDVPD\EHUHTXLUHGLQUHODWLRQWRVXFKPDWWHU

5) An income-tax authority acting under this section may—

a) place marks of identification on the books of account or other

documents inspected by such authority and make or cause to be made

extracts or copies therefrom or from any computer system;

b) record the statement of any person on oath which may be useful

for, or relevant to, any proceeding under this Act;

c) impound after recording reasons for doing so, any books of account or

other documents, or any computer system inspected by it, and retain it for a

period—

i XSWRILIWHHQGD\VH[FOXVLYHRIKROLGD\VRU

ii H[FHHGLQJILIWHHQGD\VH[FOXVLYHRIKROLGD\VZLWKWKHSULRU

approval of the approving authority;

d) make an inventory of any asset or stock checked or verified by such

income-WD[DXWKRULW\

6) The income-tax authority acting under sub-VHFWLRQ 4) shall only

undertake the actions referred under sub-VHFWLRQV5aDQG5b

7) An income-tax authority acting under this section shall, on no account, remove

or cause to EHUHPRYHGIURPWKHSODFHZKHUHLQLWKDVHQWHUHGDQ\DVVHWRUVWRFN

8) The income-tax authority having regard to the nature and scale of

expenditure incurred, for the purposes of verifying the expenditure made by the person

in connection with any function, ceremony or event, if it is of the opinion that it is

necessary and expedient to do so, after such function, ceremony or event, may—

a) require the person by whom such expenditure has been incurred or

any other person who is likely to possess the information regarding such

expenditure, to furnish such information which may be useful for, or

relevant to, any proceeding under this Act;

b) record the statements of the person or any other person on oath in

this behalf; and

c) any statement so recorded may thereafter be used as evidence in

DQ\SURFHHGLQJXQGHUWKLV$FW

9) If a person is required to provide facility to the income-tax authority to

inspect books of account or other documents in any form, or any computer system

or to check or verify any cash, stock or other valuable article or thing or to furnish

any information or to have his statement recorded, either refuses or evades to do

so, the income-WD[DXWKRULW\VKDOOKDYHDOOWKHSRZHUVXQGHUVHFWLRQ1) for

HQIRUFLQJFRPSOLDQFHZLWKWKHUHTXLUHPHQW

10) The action under this section shall be taken by an income-tax authority

with the prior approval of the Principal Director General or the Director General

RUWKH3ULQFLSDO&KLHI&RPPLVVLRQHURUWKH&KLHI&RPPLVVLRQHU

11) For the purposes of this section,—

A) “income-tax authority” means—

a) a Principal Commissioner or Commissioner, a Principal

Director or Director, a Joint Commissioner or Joint Director, an

Assistant Director or a Deputy Director or an Assessing Officer, or a

Tax Recovery Officer; and

284 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) includes an Inspector of Income-tax, for the purposes of

sub-VHFWLRQV1i5aDQG8),

who is subordinate to the Principal Director General or the Director General or

the Principal Chief Commissioner or the Chief Commissioner, as specified by the

Board;

B) “proceeding” means any proceeding under this Act in respect of

any year which may be pending on the date on which the powers under this

section are exercised or which may have been completed on or before such

date and includes also all proceedings under this Act which may be

FRPPHQFHGDIWHUVXFKGDWHLQUHVSHFWRIDQ\\HDU

254. 1) Irrespective of anything contained in any other provision of this

Act, an income-tax authority may, for the purposes of collecting any information

which may be useful for, or relevant to, the purposes of this Act, enter––

a) any building or place within the limits of the area assigned to such

authority; or

b) any building or place occupied by any person in respect of whom

such authority exercises jurisdiction,

at which a business or profession is carried on, regardless of the fact that such

place be the principal place or not of such business or profession and require any

proprietor or employee or any other person, who may at that time and place, be

attending in any manner to, or helping in, or carrying on of such business or

profession, to furnish such information as may be SUHVFULEHG

2) The income-tax authority may enter any place of business or profession

referred to in sub-VHFWLRQ1) only during the hours at which such place is open for

WKHFRQGXFWRIEXVLQHVVRUSURIHVVLRQ

3) The income-tax authority acting under this section shall, on no account,

remove or cause to be removed from the building or place wherein it has entered,

any books of account or other documents or any cash or stock or other valuable

DUWLFOHRUWKLQJ

4) For the purposes of this section, “income-tax authority” means––

a) a Joint Commissioner, or a Joint Director or an Assistant Director

or an Assessing Officer; and

b) an Inspector of Income-tax, authorised by the Assessing Officer to

exercise the powers conferred under this section in relation to the area in

respect of which the AsseVVLQJ2IILFHUH[HUFLVHVMXULVGLFWLRQRUSDUWWKHUHRI

255 The Assessing Officer, assessment unit, verification unit, the Joint

&RPPLVVLRQHU RU WKH -RLQW &RPPLVVLRQHU $SSHDOV RU WKH &RPPLVVLRQHU

$SSHDOVRUDQ\SHUVRQVXERUGLQDWHWKHUHRIDQGDXWKRULVHG in writing in this

behalf by such officer or authority, may inspect, and if necessary, take copies, or

cause copies to be taken, of any register of the members, debenture holders or

PRUWJDJHHVRIDQ\FRPSDQ\RURIDQ\HQWU\LQVXFKUHJLVWHU

256 The Principal Director General or Director General or Principal

Director or Director, the Principal Chief Commissioner or Chief Commissioner

or Principal Commissioner or Commissioner and the Joint Commissioner shall be

competent to make any enquiry under this Act, and for this purpose, shall have all

the powers that an Assessing Officer has under this Act in relation to the making

RIHQTXLULHV

Power to collect

certain

LQIRUPDWLRQ

Power to inspect

registers of

FRPSDQLHV

Power of certain

income-tax

DXWKRULWLHV

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 285

286

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Proceedings

before

income-tax

authorities to be

judicial

SURFHHGLQJV

Disclosure of

information

relating to

DVVHVVHHV

Power to call for

information by

prescribed

income-tax

DXWKRULW\

Faceless

collection of

LQIRUPDWLRQ

257 1) Any proceeding under this Act before an income-tax authority shall

be deemed to be a judicial proceeding within the meaning of sections 229 and 267

DQGIRUWKHSXUSRVHVRIVHFWLRQRIWKH%KDUDWL\D1\D\D6DQKLWD

2) Every income-tax authority shall be deemed to be a Civil Court for the

purposes of section 215 of the Bharatiya Nagarik Suraksha Sanhita, 2023, but not

for the purposes of Chapter XXVIII of the Bharatiya Nagarik Suraksha

Sanhita

258 1) The Board or any other income-tax authority specified by it by an

order in this behalf, may furnish or cause to be furnished to—

a) any officer, authority or body performing any functions under any

law relating to the imposition of any tax, duty or cess, or dealings in foreign

H[FKDQJHDVGHILQHGLQVHFWLRQn) of the Foreign Exchange Management

Act, 1999; or

b) such officer, authority or body performing functions under any

other law, if in the opinion of the Central Government it is necessary so to

do in the public interest, as it may specify by notification in this behalf,

any such information received or obtained by any income-tax authority in the

performance of its functions under this Act, as may, in the opinion of the Board

or other income-tax authority, be necessary for the purpose of enabling the officer,

DXWKRULW\RUERG\WRSHUIRUPKLVRULWVIXQFWLRQVXQGHUWKDWODZ

2) The Principal Chief Commissioner or Chief Commissioner or Principal

Commissioner or Commissioner may furnish or cause to be furnished to a person,

the information relating to any assessee received or obtained by any income-tax

authority in the performance of his functions under this Act,––

a) on an application made by such person to the aforesaid authorities

in the prescribed form and on being satisfied that it is in the public interest

so to do; and

b) the decision of the Principal Chief Commissioner or Chief

Commissioner or Principal Commissioner or Commissioner in this behalf,

VKDOOEHILQDODQGVKDOOQRWEHFDOOHGLQTXHVWLRQLQDQ\FRXUWRIODZ

3) Irrespective of anything contained in sub-VHFWLRQ1RU2) or any other

law in force, the Central Government may, having regard to the practices and

usages, customary or any other relevant factors, by notification, direct that no

information or document shall be furnished or produced by a public servant in

respect of such matters relating to such class of assessees except to such

DXWKRULWLHVDVVSHFLILHGLQWKDWQRWLILFDWLRQ

259 1) For the purposes of verification of information in the possession of

the prescribed income-tax authority, such authority may issue a notice requiring

any person to furnish any information as may be useful for, or relevant to, any

inquiry or proceeding under this Act in such form and manner and within such

WLPHDVVSHFLILHGLQVXFKQRWLFH

2) The prescribed income-tax authority may process and utilise such information

and document received by KLPDVSHUWKHVFKHPHQRWLILHGXQGHUVHFWLRQ

3) For the purposes of this section, the term “proceeding” shall have the

PHDQLQJDVVLJQHGWRLWLQVHFWLRQ

260 1) The Central Government may make a scheme, by notification, for the

purposes of calling for information under section 252, collecting certain information

under section 254, or calling for information by prescribed income-tax authority

under section 259, or exercise of power to inspect register of companies under

section 255, or exercise of power of Assessing Officer under section 256 so as to

impart greater efficiency, transparency and accountability by—

46 of

286 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

a) eliminating the interface between the income-tax authority and the

assessee or any other person to the extent technologically feasible;

b) optimising utilisation of the resources through economies of scale

and functional specialisation;

c) introducing a team-based exercise of powers, including to call for,

or collect, or process, or utilise, WKHLQIRUPDWLRQZLWKG\QDPLFMXULVGLFWLRQ

2) The Central Government may, for the purpose of giving effect to this

scheme made under sub-VHFWLRQ 1), by notification, direct that any of the

provisions of this Act shall not apply or shall apply with such exceptions,

PRGLILFDWLRQVDQGDGDSWDWLRQVDVVSHFLILHGLQWKHQRWLILFDWLRQ

3) Every notification issued under sub-VHFWLRQV1DQG2) shall, as soon as

PD\EHDIWHUWKHQRWLILFDWLRQLVLVVXHGEHODLGEHIRUHHDFK+RXVHRI3DUOLDPHQW

261 For the purposes of this Part,—

a) “approving authority” means––

i) the Principal Director General or the Director General; or

ii) the Principal Chief Commissioner or the Chief Commissioner; or

iii) the Principal Director or the Director; or

iv) the Principal Commissioner or the Commissioner;

b) “asset” includes any money, bullion, jewellery, virtual digital asset

or other valuable article or thing, held in physical or virtual form;

c) “authorised officer” means––

i) the Joint Director or the Additional Director; or

ii) the Joint Commissioner or the Additional Commissioner; or

iii) the Assistant Director or the Deputy Director; or

iv) the Assistant Commissioner or the Deputy Commissioner; or

v) the Income-tax Officer or the Tax Recovery Officer;

d) “competent authority” means––

i) the Principal Director General or the Director General; or

ii)

the Principal Chief Commissioner or the Chief

Commissioner; or

iii) the Principal Director or the Director; or

iv) the Principal Commissioner or the Commissioner; or

v) the Joint Director or the Additional Director; or

vi) the Joint Commissioner or the Additional Commissioner;

e) “computer system” means computers, computer networks,

computer resources, communication devices, digital or electronic data

storage devices, used on stand-alone mode or part of a computer system,

linked through a network, or utilised through intermediaries for information

creation or processing or storage or exchange, and includes the remote

server or cloud server or virtual digital space;

f) “date on which the last of the authorisations for search was

executed” means—

,QWHUSUHWDWLRQ

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 287

288

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Permanent

Account

1XPEHU

i) in the case of search, the date of conclusion of search as

recorded in the last panchnama drawn in relation to any person in

whose case the warrant of authorisation has been issued; or

ii) in the case of requisition under section 248, the date of actual

receipt of the books of account or other documents or computer system

or assets by the requisitioning officer;

g) “electronic form” shall have the same meaning as provided in

VHFWLRQ1r) of the Information Technology Act, 2000;

h) “electronic record” shall have the same meaning as provided in

VHFWLRQ1t) of the Information Technology Act, 2000;

i) “material seized or requisitioned” means books of account or other

documents or computer systems, and extracts seized from a person during

the course of search under section 247 or requisitioned under section 248,

and includes seizure of backup taken from any specialised programs like

tally software, excel sheets, word files and all electronic records including

data and information in electronic form or on the computer system,

containing figures and any other relevant noting, and shall be construed to

mean as books of accounts maintained by the said person;

j) “virtual digital space” means an environment, area or realm, that is

constructed and experienced through computer technology and not the

physical, tangible world which encompasses any digital realm that allows

users to interact, communicate and perform activities using computer

systems, computer networks, computer resources, communication devices,

cyberspace, internet, worldwide web and emerging technologies, using data

and information in the electronic form for creation or storage or exchange

and includes––

i) email servers;

ii) social media account;

iii) online investment account, trading account, banking

DFFRXQWHWF

iv) any website used for storing details of ownership of any asset;

v) remote server or cloud servers;

vi) digital application platforms; and

vii DQ\RWKHUVSDFHRIVLPLODUQDWXUH

CHAPTER XV

RETURN OF INCOME

A.—Allotment of Permanent Account Number

262 1) Every person who has not been allotted a Permanent Account

Number shall, within such time as may be prescribed, apply to the Assessing

Officer for its allotment if he fulfils any of the following conditions:—

a) his total income or the total income of any other person for which

he is assessable under this Act during any tax year exceeded the maximum

amount not chargeable to income-tax; or

b) he is carrying on any business or profession whose total sales, turnover

or gross receipts are or is likely to exceed ൟ500000 in any tax year; or

288 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

c) he is required to furnish a return of income under section 263 for

any tax year;

d) he is a resident, other than an individual, which enters into a

financial transaction aggregating to ൟ250000 or more in a tax year; or

e) he is the managing director, director, partner, trustee, author,

founder, karta, chief executive officer, principal officer or office bearer of

WKHSHUVRQUHIHUUHGWRLQFODXVHd) or any person competent to act on behalf

RIWKHSHUVRQUHIHUUHGWRLQFODXVHd); or

f) he intends to enter into such transaction as may be prescribed by

WKH%RDUGLQWKHLQWHUHVWRIUHYHQXH

2) Any person, not covered under sub-VHFWLRQ 1) may apply to the

Assessing Officer for the allotment of a Permanent Account Number after which

the AssessLQJ2IILFHUVKDOODOORWD3HUPDQHQW$FFRXQW1XPEHUWRVXFKSHUVRQ

3) Every person shall quote Permanent Account Number in all his returns

to, or correspondence with, any income-tax authority and in all challans for the

payment of any sum due under this AFW

4) Every person shall intimate the Assessing Officer of any change in his

address or in the name and nature of his business on the basis of which the

3HUPDQHQW$FFRXQW1XPEHUZDVDOORWWHGWRKLP

5) Every person who is eligible to obtain Aadhaar number shall quote such

number in the application form for allotment of Permanent Account Number and

LQWKHUHWXUQRILQFRPH

6a) For the cases other than sub-VHFWLRQ5), every person who has been

allotted Permanent Account Number and who is eligible to obtain Aadhaar

number, shall intimate his Aadhaar number to the prescribed income-tax authority

in such form and manner, as may be prescribed;

b LIDSHUVRQIDLOVWRLQWLPDWHKLV$DGKDDUQXPEHUDVSHUFODXVHa), the

Permanent Account Number allotted to that person shall be made inoperative in

such manner as may be SUHVFULEHG

7) Every person who is required to furnish or intimate or quote his

Permanent Account Number under this Act, and who—

a) has not been allotted a Permanent Account Number but possesses

the Aadhaar number, may furnish or intimate or quote his Aadhaar number

in lieu of the Permanent Account Number, and such person shall be allotted

a Permanent Account Number in the manner, as may be prescribed;

b) has been allotted a Permanent Account Number, and who has

intimated his Aadhaar number as per sub-VHFWLRQ6) may furnish or intimate

or quote his Aadhaar number in lieu RIWKH3HUPDQHQW$FFRXQW1XPEHU

8) A person who has already been allotted a Permanent Account Number

cannot apply, obtDLQRUSRVVHVVDQRWKHU3HUPDQHQW$FFRXQW1XPEHU

9a) Every person entering into such transaction, as may be prescribed,

shall quote his Permanent Account Number or Aadhaar number, in the documents

pertaining to such transactions and also authenticate such Permanent Account

Number or Aadhaar number, in the manner, as may be prescribed;

b) every person receiving any document relating to the transactions referred

WRLQFODXVHa), shall ensure that Permanent Account Number or Aadhaar number,

has been duly quoted in such document and that such Permanent Account Number

or Aadhaar number is authenticated as may be SUHVFULEHG

10) The Board may make rules providing for—

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 289

290

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Return of

LQFRPH

a) the form, manner and time in which an application may be made

for the allotment of Permanent Account Number and the particulars which

such application shall contain;

b) class or classes of persons who shall be required to apply for

allotment of Permanent Account Number;

c) categories of documents pertaining to business or profession in

which Permanent Account Number shall be quoted by every person;

d) the form and manner in which the person who has not been allotted

a Permanent Account Number shall make his declaration;

e) manner of authentication of Permanent Account Number or

Aadhaar number;

f) class or classes of persons to whom the provisions of this section

shall QRWDSSO\KDYLQJUHJDUGWRWKHWUDQVDFWLRQVRUWKHFLUFXPVWDQFHV

11a) The Central Government may, by notification, specify any class or

classes of persons who shall apply to the Assessing Officer for the allotment of

Permanent Account Number within such time as mentioned in such notification;

b WKHFODVVRUFODVVHVRISHUVRQVLQFODXVHa) may include such persons––

i) by whom tax is payable under this Act; or

ii) by whom any tax or duty is payable under any other law in force; or

iii) being importers and exporters, HYHQZKHQQRWD[LVSD\DEOHE\WKHP

12) The provisions of sub-VHFWLRQV5DQG6) shall not apply to such person

or class or classes of persons or any State or part of any State, as may be notified

E\WKH&HQWUDO*RYHUQPHQW

13) For the purposes of this section,—

a) “Aadhaar number” shall have the same meaning as assigned to it

LQVHFWLRQaRIWKH$DGKDDU7DUJHWHG'HOLYHU\RI)LQDQFLDODQG2WKHU

Subsidies, Benefits and Services) Act, 2016;

b) “Assessing Officer” includes an income-tax authority who is

assigned the duty of allotting Permanent Account Number;

c) “authentication” means the process by which the Permanent

Account Number or Aadhaar number along with demographic information

or biometric information of an individual is submitted to the income-tax

authority or such other authority or agency as may be prescribed for its

verification and such authority or agency verifies the correctness, or the lack

WKHUHRIRQWKHEDVLVRILQIRUPDWLRQDYDLODEOHZLWKLW

B.—Filing of return of income

263 1a) Every person as mentioned below shall, for a tax year, on or

before the due date, furnish a return of his income or the income of any other

person in respect of which he is assessable during the said tax year:—

i) a company;

ii) a firm;

iii) a person other than a company or a firm, if his total income or the

total income of any other person in respect of which he is assessable under this

Act during the tax year, without giving effect to the provisions of

Chapter XVII-B RUSURYLVLRQVRI6FKHGXOH9,,,7DEOH6O1RRUGHGXFWLRQV

allowable under section 82 or 83 or 84 or 85 or 86 or 87 or 88 of

Chapter IV-E or Chapter VIII, as the case may be, exceeded the maximum

amount which is not chargeable to income-tax;

290 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

iv) a specified entity, if its total income without giving effect to the

provisions of section 11 exceeds the maximum amount which is not

chargeable to income-tax;

v) a University, college or other institution as referred to in

VHFWLRQ3a);

vi) a business trust;

vii) an investment fund as referred to in section 224;

viii) a person who has sustained a loss in the tax year under the head

“Profits and gains of business or profession” or under the head “Capital

gains” and who intends to claim that such loss, or any part thereof, is to be

carried forward as per this Act;

ix) a person, who is a resident, other than not ordinarily resident, and

who at any time during the tax year,––

A) holds, as a beneficial owner or otherwise, any asset

LQFOXGLQJDQ\ILQDQFLDOLQWHUHVWLQDQHQWLW\ORFDWHGRXWVLGH,QGLDRU

has signing authority in any account located outside India; or

B LVDEHQHILFLDU\RIDQ\DVVHWLQFOXGLQJDQ\ILQDQFLDOinterest

in an entity) located outside India, except where any income arising

from such asset is includible in the income of person referred to in

LWHPA);

x) a person, other than a company or firm, who during the tax year,

fulfils such conditions as may be prescribed;

b) WKHSHUVRQVUHIHUUHGLQFODXVHVai), a)ii), a)v), a)vi), a)vii) and

a)ix) shall furnish return on or before the due date regardless of income or loss;

c) for the purposes of this section, “due date” means the date of the financial

year succeeding the relevant tax year as mentioned in the corresponding entry of

column C of the Table below in respect of the persons mentioned in column B of

the said Table:

Table

6O1R

Person

Due date

Assessee, including the partners of

WKHILUPRUWKHVSRXVHRIVXFKSDUWQHULI

section 10 applies to such spouse), who

is required to be furnished a report

referred to in section 172

30th 1RYHPEHU

&RPSDQ\ LQ FDVHVRWKHU WKDQ WKRVH

PHQWLRQHGLQ6O1R

31st October

3HUVRQRWKHUWKDQDFRPSDQ\ZKRVH

accounts are required to be audited under

this Act or under any other law in force

LQFDVHVRWKHUWKDQWKRVHPHQWLRQHGLQ

6O1R

31st October

Partner of a firm whose accounts are

required to be audited under this Act or

under any other law in force; or the

VSRXVH RI VXFK SDUWQHU LI VHFWLRQ

DSSOLHVWRVXFKVSRXVHLQFDVHVRWKHU

WKDQWKRVHPHQWLRQHGLQ6O1R

31st October

Any other assessee

31st July

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 291

292

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

2a) The Board may prescribe form for furnishing return of income,

manner of its verification and such other particulars including––

i) the class or classes of persons who shall be required to furnish the

return in electronic form or otherwise;

ii) the form and the manner in which the return may be furnished,

whether in electronic form or otherwise;

iii) the documents, statements, receipts, certificates, audited reports

or any other documents which may not be furnished along with the return in

electronic form but shall be produced before the Assessing Officer on

demand;

iv) the computer resource or the electronic record to which the return

in electronic form may be transmitted;

b WKHSDUWLFXODUVSUHVFULEHGXQGHUFODXVHa) may also include––

i) income exempt from tax;

ii) assets of the prescribed nature and value held by the assessee as a

beneficial owner or otherwise or in which he is a beneficiary;

iii) bank account and credit card held by the assessee;

iv) expenditure exceeding the prescribed limit incurred by the

assessee under prescribed heads;

v) such other outgoings as may be prescribed;

vi) the report of any audit referred to in section 63 or a copy thereof;

vii) the particulars of the location and style of the principal place of

the business or profession and all the branches thereof;

viii) the names and addresses of the partners, if any, in the business

or profession;

ix) the names of the other members of the association of person or the

body of individuals and the extent of the share of the assessee and the shares

of all such members in the profits of the business or profession and any

EUDQFKHVWKHUHRI

3) The Central Government may, by notification, exempt any class or

classes of persons, from the obligation to file a return of income under this section,

VXEMHFWWRWKHFRQGLWLRQVVSHFLILHGWKHUHLQ

4) Any person who has not furnished a return within the time allowed to

him under sub-VHFWLRQ1), may furnish the return for any tax year at any time

within nine months from the end of the relevant tax year, or before the completion

RIWKHDVVHVVPHQWZKLFKHYHULVHDUOLHU

5) If any person, having furnished a return under sub-VHFWLRQ 1) or

sub-VHFWLRQ 4), discovers any omission or any wrong statement therein, he may

furnish a revised return at any time within nine months from the end of the relevant

tax year, RUEHIRUHWKHFRPSOHWLRQRIWKHDVVHVVPHQWZKLFKHYHULVHDUOLHU

6a) Any person, whether or not he has furnished a return under

sub-VHFWLRQ1RU4RU5) for a tax year, may furnish an updated return of his

income or the income of any other person in respect of which he is assessable

under this Act, at any time within forty-eight months from the end of the financial

year succeeding the relevant tax year;

292 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

b) WKHSURYLVLRQVRIFODXVHa) shall continue to apply for a tax year if any

person has sustained a loss in the said tax year and has furnished a return of loss

within the due date specified under sub-VHFWLRQ1) and the updated return is a

return of income;

c WKH SURYLVLRQV RI FODXVH a) shall not apply for a tax year for any

person, if––

i) the updated return is a return of loss for the said tax year; or

ii) the updated return has the effect of decreasing the total tax liability

determined on the basis of return furnished under sub-VHFWLRQ1RU4RU5)

for the said tax year; or

iii) the updated return results in refund where no refund was due or

increases the refund due on the basis of return furnished under sub-seFWLRQ1)

RU4RU5) for the said tax year; or

iv) an updated return has already been furnished for the said tax year; or

v) any proceeding for assessment or reassessment or recomputation or

revision of income under this Act is pending or has been completed for the said

tax year; or

vi) the Assessing Officer is in the possession of information in respect

of such person for the said tax year regarding violation of specified laws and

the same has been communicated to him prior to the date of furnishing of

updated return; or

vii) information for the said tax year has been received under an

agreement referred to in section 90 or 90A of Income-tax Act, 1961 or

section 159 of this Act in respect of such person and the same has been

communicated to him, prior to the date of furnishing of updated return; or

viii) any prosecution proceedings under the Chapter XXII have been

initiated for the said tax year in respect of such person, prior to the date of

furnishing of updated return; or

ix) thirty-six months have expired from the end of the financial year

succeeding the relevant tax year, and any notice to show-cause under

section 281 has been issued in his case, except where an order has been

SDVVHGXQGHUVHFWLRQ3) determining that it is not a fit case to issue

notice under section 280; or

x) he is such person or belongs to such class of persons, as may be

notified by the Board in this regard;

d) a person shall also not be eligible to furnish an updated return of income,

where—

i) a search has been initiated under section 247 or books of account

or other documents or any assets are requisitioned under section 248 in the

case of that person; or

ii) a survey has been conducted under section 253, other than

sub-VHFWLRQ4) of the said section, in the case of that person; or

iii) a notice has been issued under section 294 in pursuance to the

provisions of section 295, to that person,

for the tax year in which such search is initiated or survey is conducted or

requisition is made and any tax year preceding such tax year;

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 293

294

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

e LIDSHUVRQKDVIXUQLVKHGDUHWXUQRILQFRPHXQGHUFODXVHa) for a tax year,

and as a result the loss or any part thereof carried forward under Chapter VII or

XQDEVRUEHGGHSUHFLDWLRQFDUULHGIRUZDUGXQGHUVHFWLRQ3b) or tax credit carried

IRUZDUGXQGHUVHFWLRQV1)m) WRpDQG2)e) WRh) is to be reduced for any

subsequent tax year, then, an updated return shall be furnished for each such

VXEVHTXHQWWD[\HDU

7) A return of income furnished under this section, shall be treated as defective

if it is not in conformity with all the conditions as may be prescribed and shall be dealt

with in the following manner:––

a) where the Assessing Officer considers that the return of income

furnished by the assessee is defective, he may intimate the defect to the assessee

and give him an opportunity to rectify the defect within fifteen days from the

date of such intimation or within a further period as may be allowed on an

application made by the assessee in this behalf;

b LIWKHGHIHFWLVQRWUHFWLILHGZLWKLQWKHSHULRGDOORZHGXQGHUFODXVHa),

then the return shall be treated as an invalid return and the provisions of this Act

shall apply as if the assessee had failed to furnish the return;

c) where the assessee rectifies the defect after the expiry of the period

DOORZHGXQGHUFODXVHa), but before the assessment is made, the Assessing

2IILFHUPD\FRQGRQHWKHGHOD\DQGWUHDWWKHUHWXUQDVDYDOLGUHWXUQ

8a) The provisions of this section shall also apply to a return of income which

LVIXUQLVKHGLQSXUVXDQFHRIDQRUGHUSDVVHGXQGHUVHFWLRQ3b);

b) the provisions of this section shall not apply to a specified senior

FLWL]HQDVUHIHUUHGWRLQVHFWLRQ39), for the relevant tax year in which tax

KDVEHHQGHGXFWHGDWVRXUFHXQGHUVHFWLRQ1>7DEOH6O1Riii@

For the purposes of this section,––

D“beneficial owner”, in respect of an asset means an individual who

has SURYLGHG GLUHFWO\ RU LQGLUHFWO\ FRQVLGHUDWLRQ IRU WKH DVVHW IRU WKH

LPPHGLDWH RU IXWXUH EHQHILW GLUHFW RU LQGLUHFW RI KLPVHOI RU DQ\ RWKHU

SHUVRQ

b) “beneficiary”, in respect of an asset means an individual who

derives benefit from the asset during the tax year and the consideration for

such asset has been provided by any person other than such

beneficiary;

c) “specified entity” means––

i UHVHDUFKDVVRFLDWLRQUHIHUUHGWRLQ6FKHGXOH,,,7DEOH6O1R

ii) association or institution referred to in Schedule III

7DEOH6O1R

iii SHUVRQUHIHUUHGWRLQ6FKHGXOH9,,7DEOH6O1R

iv LQVWLWXWLRQUHIHUUHGWRLQ6FKHGXOH,,,7DEOH6O1R

v) any University or other educational institution or any hospital

or other medical institution referred to in Schedule VII

7DEOH6O1RV and 19);

vi 0XWXDO)XQGUHIHUUHGWRLQ6FKHGXOH9,,7DEOH6O1RV

and 21);

vii VHFXULWLVDWLRQWUXVWUHIHUUHGWRLQ6FKHGXOH,,,7DEOH6O1R

294 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

viii ,QYHVWRU3URWHFWLRQ)XQGUHIHUUHGWRLQ6FKHGXOH,,,7DEOH

6O1RVDQG

ix) Core Settlement Guarantee Fund referred to in Schedule III

7DEOH6O1R

x) venture capital company or venture capital fund referred to

LQ6FKHGXOH97DEOH6O1R

xi WUDGHXQLRQRUDVVRFLDWLRQUHIHUUHGWRLQ6FKHGXOH,,,7DEOH

6O1R

xii %RDUGRU$XWKRULW\UHIHUUHGWRLQ6FKHGXOH9,,7DEOH6O

1RVDQG

xiii) Body or Authority oU%RDUGRU7UXVWRU&RPPLVVLRQE\

ZKDWHYHUQDPHFDOOHGUHIHUUHGWRLQ6FKHGXOH,,,7DEOH6O1R

xiv LQIUDVWUXFWXUHGHEWIXQGUHIHUUHGWRLQ6FKHGXOH9,,7DEOH

6O1R

d) “specified laws” shall refer to the Smugglers and Foreign Exchange

0DQLSXODWRUV)RUIHLWXUHRI3URSHUW\$FWRUWKH3URKLELWLRQRIBenami

Property Transactions Act, 1988, or the Prevention of Money-laundering Act,

RU WKH %ODFN 0RQH\ 8QGLVFORVHG )RUHLJQ ,QFRPH DQG $VVHWV DQG

,PSRVLWLRQRI7D[$FW

264 1) The Board may make a Scheme for furnishing returns of income

through a tax return preparer and such Scheme shall be notified, which—

a) may enable any specified class or classes of persons in preparing

and furnishing returns of income through a tax return preparer authorised to

act as such under the Scheme;

b PD\EHPDGHLUUHVSHFWLYHRISURYLVLRQVRIVHFWLRQ

2) For the purpose of this section,—

a) “tax return preparer” means any individual, not being a person

UHIHUUHGWRLQVHFWLRQ3a)ii) or an employee of the “specified class or

classes of persons”, who has been authorised to act as a tax return preparer

under the Scheme made under this section;

b) “specified class or classes of persons” means any person, other

than a company or a person, whose accounts are required to be audited under

section 63 or under any other law, who is required to furnish a return of

LQFRPHXQGHUWKLV$FW

3) Every notification for the Scheme referred to in sub-VHFWLRQ1) shall be

issued as per section 534 of this Act

265. The return of income under section 263 required to be furnished by the

person specified in column B of the Table below shall be verified by the person

specified in corresponding entry in column C of the said Table:

Table

Person furnishing return

of income

To be verified

An individual

i) By the individual himself;

ii) where the individual is mentally

incapacitated from attending to his affairs, by

his guardian or any other person competent

to act on his behalf;

Scheme for

submission of

returns through

tax return

SUHSDUHUV

Return by whom

WREHYHULILHG

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 295

296

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

iii) where, for any other reason, it is not

possible for the individual to verify the

return, by any person duly authorised by him

WKURXJKDYDOLGSRZHURIDWWRUQH\

A Hindu undivided

family

i) By the karta;

ii) where the karta is absent from India or

is mentally incapacitated from attending to

his affairs, by any other adult member of

such famLO\

A company in cases

other

than

those

mentioned

serial

QXPEHUVDQG

i) By the managing director of the

company;

ii) where there is no managing director,

or the managing director is not able to

verify the return due to any unavoidable

reason, by any director of the company or

any other person as may be prescribed for

YHULI\LQJWKHUHWXUQ

A company not being

resident in India

By any person holding a valid power of

DWWRUQH\IURPWKHFRPSDQ\WRGRVR

A company which is

being wound up by

orders of the Court or

otherwise, or where any

person

has

been

appointed as receiver of

any

assets

the

company

By the liquidator as referred to in

section 1

A company whose

management has been

taken

over

the

Central Government or

any State Government

under any law

B\WKHSULQFLSDORIILFHURIWKHFRPSDQ\

A company, for which

application

seeking

corporate

insolvency

resolution process has

been admitted by the

Adjudicating

Authority

under section 7 or 9 or 10

of the Insolvency and

Bankruptcy Code, 2016

By the insolvency professional appointed

by such Adjudicating Authority, where—

“Insolvency

professional”

and

“Adjudicating Authority” shall have the

same meanings as assigned to them

UHVSHFWLYHO\LQVHFWLRQV19DQG1) of

the Insolvency and Bankruptcy Code,

A firm

i) By the managing partner of the firm;

ii) where the managing partner is not

able to verify the return due to any

unavoidable reason, or there is no managing

partner as such, by any partner of the firm, not

being a mLQRU

A limited liability

partnership

i) By the designated partner of the limited

liability partnership;

296 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

ii) where the designated partner of the

limited liability partnership is not able to

verify the return due to any unavoidable

reason, or where there is no designated

partner, by any partner of the limited liability

partnership or any other person as may be

pUHVFULEHGIRUYHULI\LQJWKHUHWXUQ

A local authority

By the principal officer of the local

DXWKRULW\

A political party as

referred to in section

1aiii

By the chief executive officer of such

SROLWLFDOSDUW\ZKHWKHUWKHFKLHIexecutive

officer is known as secretary or by any other

GHVLJQDWLRQ

$Q\RWKHUDVVRFLDWLRQ

i) By any member of the association; or

ii)

by the principal officer of the

DVVRFLDWLRQ

Any other person

i) By the person himself; or

ii) by any person competent to act on his

EHKDOI

266. 1) Where, after taking into account the amounts referred to in

sub-VHFWLRQ 2), any tax is payable on the basis of any return required to be

furnished under section 263 or 268 or 280 or 294, then––

a) the assessee shall be liable to pay such tax together with interest

and fee payable under any provision of this Act for any delay in furnishing

the return or any default or delay in payment of advance tax, before

furnishing the return; and

b) the return shall be accompanied by proof of payment of tax, interest

DQGIHH

2) The amounts referred to in sub-VHFWLRQ1) shall be,—

a) the amount of tax, if any, already paid under any provision of this Act;

b) any tax deducted or collected at source;

c) any relief of tax claimed under section 157;

any relief of tax or deduction of tax claimed under

section 1) or 160 on account of tax paid in a country outside India;

e) any relief of tax claimed under section 2) on account of tax paid in

any specified territory outside India referred to in that section;

f DQ\WD[FUHGLWFODLPHGWREHVHWRIIDVSHUVHFWLRQV1)m) WRp)

DQG2)e) WRh); and

g) any tax or interest payable according to the provisions of

VHFWLRQ2

3) Where the amount paid by the assessee under sub-VHFWLRQ1) falls

short of the aggregate of the tax, interest and fee as payable under the said

sub-section, the amount so paid shall first be adjusted towards the fee payable

and thereafter towards the interest payable and the balance, if any, shall be

DGMXVWHGWRZDUGVWKHWD[SD\DEOH

4) For the purposes of sub-VHFWLRQ 1), interest payable under

section 423 shall be computed on the tax on the total income as declared in the

return as reduced by the amount of,—

a) advance tax, if any, paid;

b) any tax deducted or collected at source;

Self-DVVHVVPHQW

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 297

298

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

Tax on updated

UHWXUQ

c) any relief of tax claimed under section 157;

d DQ\UHOLHIRIWD[RUGHGXFWLRQRIWD[FODLPHGXQGHUVHFWLRQ1)

or 160 on account of tax paid in a country outside India;

e DQ\UHOLHIRIWD[FODLPHGXQGHUVHFWLRQ2) on account of tax

paid in any specified territory outside India referred to in that section; and

f) any tax credit claimed to be set off as per the provisions of

VHFWLRQV1)m) WRpDQG2)e) WRh);

5) For the purposes of sub-VHFWLRQ1), interest payable under section 424

shall be computed on an amount equal to the assessed tax or, as the case may be,

RQWKHDPRXQWE\ZKLFKWKHDGYDQFHWD[SDLGIDOOVVKRUWRIWKHDVVHVVHGWD[

6) In sub-VHFWLRQ5), “assessed tax” means the tax on the total income as

declared in the return as reduced by the amount of,—

a) tax deducted or collected at source, as per the provisions of

Chapter XIX-B, on any income which is subject to such deduction or

collection and which is taken into account in computing such total income;

b) any relief of tax claimed under section 157;

c DQ\UHOLHIRIWD[RUGHGXFWLRQRIWD[FODLPHGXQGHUVHFWLRQ1)

or section 160 on account of tax paid in a country outside India;

d DQ\UHOLHIRIWD[FODLPHGXQGHUVHFWLRQ2) on account of tax

paid in any specified territory outside India referred to in that section; and

e) any tax credit claimed to be set off as per the provisions of

VHFWLRQV1)m) WRpDQG2)e) WRh)

7) After a regular assessment under section 270 or 271 or an assessment

under section 294 has been made, any amount paid under sub-VHFWLRQ1) shall be

GHHPHGWRKDYHEHHQSDLGWRZDUGVVXFKUHJXODUDVVHVVPHQWRUDVVHVVPHQW

8) If any assessee fails to pay the whole or any part of such tax, interest or

fee as per the provisions of sub-VHFWLRQ1), he shall be deemed to be an assessee

in default in respect of the tax, interest or fee remaining unpaid and all the

SURYLVLRQVRIWKLV$FWVKDOODSSO\DFFRUGLQJO\

9) The provisions of sub-section 8) shall apply without prejudice to any

RWKHUFRQVHTXHQFHVZKLFKWKHDVVHVVHHPD\LQFXU

267. 1:KHUHQRUHWXUQRILQFRPHXQGHUVHFWLRQ1RU4) has been

furnished by an assessee and, after taking into account the amounts referred to in

sub-sectioQ 2), tax is payable on the basis of return to be furnished by such

DVVHVVHHXQGHUVHFWLRQ6), then—

a) the assessee shall be liable to pay such tax together with interest

and fee payable under any of the provisions of this Act for any delay in

furnishing the return or any default or delay in payment of advance tax;

b) such tax, interest and fee shall be payable along with the payment

of additional income-tax computed as per sub-VHFWLRQ5), before furnishing

the return; and

c) the return shall be accompanied by proof of payment of such

tax, additional income-WD[LQWHUHVWDQGIHH

2) The amounts referred to in sub-VHFWLRQ1) shall be,—

a) the amount of tax, if any, already paid as advance tax;

b) any tax deducted or collected at source;

c) any relief of tax claimed under section 157;

d DQ\UHOLHIRIWD[RUGHGXFWLRQRIWD[FODLPHGXQGHUVHFWLRQ1)

or 160 on account of tax paid in a country outside India;

298 The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. [No. 11-31

6HF@

7+(*$=(77(2),1',$(;75$25',1$5<

e DQ\UHOLHIRIWD[FODLPHGXQGHUVHFWLRQ2) on account of tax

paid in any specified territory outside India referred to in that section; and

f) any tax credit claimed to be set off as per the provisions of

VHFWLRQV1)m) WRpDQG2)e) WRh

3 :KHUHUHWXUQRILQFRPHXQGHUVHFWLRQ1RU4RU5UHIHUUHGWR

as earlier return) has been furnished by an assessee and, after taking into account

the amounts referred to in sub-VHFWLRQ4) [as increased by the amount of refund,

LIDQ\LVVXHGLQUHVSHFWRIVXFKHDUOLHUUHWXUQ@WD[LVSD\DEOHRQWKHEDVLVRIUHWXUQ

to bHIXUQLVKHGE\VXFKDVVHVVHHXQGHUVHFWLRQ6) then—

a) the assessee shall be liable to pay such tax together with interest

payable under any provision of this Act for any default or delay in payment

of advance tax;

b) such tax, interest and fee shall be payable along with the payment

of additional income-tax, as computed as per sub-VHFWLRQ5), as reduced by

the amount of interest paid under the provisions of this Act in the earlier

return, before furnishing the return; and

c) the return shall be accompanied by proof of payment of such tax,

additional income-WD[LQWHUHVWDQGIHH

4) The amounts referred to in sub-VHFWLRQ3) shall be the following,—

a WKHDPRXQWRIUHOLHIRUWD[UHIHUUHGWRLQVHFWLRQ1), the credit

for which has been taken in the earlier return;

b) tax deducted or collected at source, as per the provisions of

Chapter XIX-B, on any income which is subject to such deduction or

collection and which is taken into account in computing total income and

which has not been included in the earlier return;

c DQ\UHOLHIRIWD[RUGHGXFWLRQRIWD[FODLPHGXQGHUVHFWLRQ1)

or 160 on account of tax paid in a country outside India on such income

which has not been included in the earlier return;

d) any relief of tax claimed under section 2) on account of

tax paid in any specified territory outside India referred to in that

section on such income which has not been included in the earlier

return; and

e) any tax credit claimed, to be set off as per the provisions of

sections 2061mWRp) and 2062eWRhwhich has not been claimed

LQWKHHDUOLHUUHWXUQ

5) For the purposes of sub-VHFWLRQV1DQG3), the additional income-tax

SD\DEOHDWWKHWLPHRIIXUQLVKLQJWKHUHWXUQXQGHUVHFWLRQ6) shall be equal

to,—

a) 25% of aggregate of tax and interest payable, as determined in

sub-VHFWLRQ1RU3), as the case may be, if such return is furnished after

H[SLU\ RI WKH WLPH DYDLODEOH XQGHU VHFWLRQ 4 RU 5) and before

completion of twelve months from the end of the financial year succeeding

the relevant tax year; or

b) 50% of aggregate of tax and interest payable, as determined in

sub-VHFWLRQ1RU3), as the case may be, if such return is furnished after

the expiry of twelve months but before completion of twenty-four

months from the end of the financial year succeeding the relevant tax

year; or

No. 11-31] The J&K Official Gazette, the 11th June, 2026/21st Jyai., 1948. 299

300

THE GAZETTE OF INDIA EXTRAORDINARY

[Part II—

c) 60% of aggregate of tax and interest payable, as determined in

sub-VHFWLRQ1RU3), as the case may be, if such return is furnished after the

expiry of twenty-four months, but before completion of thirty-six months,

from the end of the financial year succeeding the relevant tax year; or

d) 70% of aggregate of tax and interest payable, as determined in

sub-VHFWLRQ1RU3), as the case may be, if such return is furnished after the

expiry of thirty-six months, but before completion of forty-eight months, from

WKHHQGRIWKHILQDQFLDO\HDUVXFFHHGLQJWKHUHOHYDQWWD[\HDU

6) For the purposes of computation of “additional income-tax” under this

section, tax shall include surcharge and cess, by whateYHUQDPHFDOOHGRQVXFKWD[

7) Irrespective of anything contained in section 4242), for the purposes of

sub-VHFWLRQ3), interest payable under section 424 shall be computed on an amount

equal to the assessed tax where, “assessed tax” means the tax on the total income as

declared in the return to be furnished under section 6),—

a) after taking into account,—

i) the amount of relief or tax referred to in section 1), the credit

for which has been claimed in the earlier return, if any;

ii) tax deducted or collected at source, as per the provisions of

Chapter XIX-B, on any income which is subject to such deduction or

collection and which is taken into account in computing such total income,

which has not been included in the earlier return;

iii) any relief of tax or deduction of tax claimed under

VHFWLRQ1) or 160 on account of tax paid in a country outside India

on such income which has not been included in the earlier return;

iv) any relief of tax claimed under sectiRQ2) on account of

tax paid in any specified territory outside India referred to in that section

on such income which has not been included in the earlier return;

v DQ\WD[FUHGLWFODLPHGWREHVHWRIIDVSHUVHFWLRQV1)m) to

p DQG 2)e) WR h), which has not been claimed in the earlier

return; and

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