Notification No. 54

A notification under section 2 of the Income-tax Act, 1961

What this is

Notification No. 54 was published on 18 March 2003. Its subject is A notification under section 2 of the Income-tax Act, 1961.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.2	s.2, s.346, s.355
s.3	s.3
s.120	s.241, s.243

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

Notification No : 54

Section(s) Referred : s. 120

Date of Issue : 18/3/2003

Notification No. 54 of 2003, dt. 18th March, 2003

In exercise of the powers conferred under sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961, (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, (Department of Revenue), Central Board of Direct Taxes, bearing S.O. No. 882(E) dated 14th September, 2001 and published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii) dated 14th September, 2001, namely:

In the said notification-

(i) at page 15, in lines 26 to 30, for the words "persons being companies registered under the Companies Act, 1956, and having registered office in the area mentioned in column (4).", the words "persons being companies as defined under clauses (17) (18), (22A), (23A), (26) and (36A) of section 2 of Income-tax Act, 1961 and having registered office or principal place of business in the area mentioned in column (4).", shall be substituted;

(ii) at page 15, in lines 43 to 47 for the words "persons being companies registered under the Companies Act, 1956, and having registered office in the area mentioned in column (4).", the words "persons being companies as defined under clauses (17), (18), (22A), (23A), (26) and (36A) of section 2 of the Income-tax Act, 1961 and having registered office or principal place of business in the area mentioned in column (4). ", shall be substituted;

(iii) at page 16, in lines 11 to 15, for the words "person being companies registered under the Companies Act, 1956, and having registered office in the area mentioned in column (4).", the words "persons being companies as defined under clauses (17), (18), (22A), (23A), (26) and (36A) of section 2 of the Income-tax Act, 1961 and having registered office or principal place of business in the area mentioned in column (4). ", shall be substituted;

(iv) at page 16, in lines 28 to 32, for the words "persons being companies registered under the Companies Act, 1956, and having registered office in the area mentioned in column (4).", the words "persons being companies as defined under clauses (17), (18), (22A), (23A), (26) and (36A) of section 2 of the Income-tax Act, 1961 and having registered office or principal place of business in the area mentioned in column (4). ", shall be substituted.

2. This notification shall take effect on and from the date of its publication in the Official Gazette.

[F.No. 187/1/2003-ITA-I]

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 89/2026-CBDT [F. No. 164/1/2026-ITA-1] / SO 3936(E) — Ministry of Finance 17 July 2026
Notification No. 75/2026 [F. No. 275/18/2026-IT(B)] / SO 3610(E) : TDS Exemption on Ship Lease Payments to IFSC Units — 4 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 3 July 2026
Notification No. 74/2026 [F. No. 275/16/2026-IT(B)] / SO 3609(E) : TDS Exemption on Aircraft Lease Payments to IFSC Units — 4 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 3 July 2026
Notification No. 65/2025 [F. No. 300196/4/2019-ITA-I] / S.O. 2739(E) — Ministry of Finance 19 June 2025
Notification No. 56 /2025 [F.No.300164/4/2024-ITA-1] / SO 2576(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 12 June 2025
Notification No. 52/2025 [F. No. 300164/5/2024-ITA-1] / SO 2447(E) — Ministry of Finance 30 May 2025

← Notification No. 55 · Notification No. 53 →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.