CBDT Amends Form No. 7 to include both Assessment Year and Block Period Effective from 1st September 2025

The CBDT has amended Form No. 7 to include both the "assessment year and a block period," effective from September 1, 2025. This amendment is part of the ongoing efforts to streamline tax administration and improve compliance. The new format will ensure clarity and accuracy in reporting, especially for cases involving search and seizure operations where a block period is relevant. This move is aimed at making the tax system more transparent and efficient for both taxpayers and tax authorities.