Notification No. 75 — Amendment of the Income-tax Rules under section 295 of the Income-tax Act, 1961

What this is

Notification No. 75 was published on 1 April 2003. Its subject is Amendment of the Income-tax Rules under section 295 of the Income-tax Act, 1961.

This amends the Income-tax Rules. What it changes is the Rules, not the Act — and a rule can never take away what the section gives.

What it does

In exercise of the powers under section 295 of the Income-tax Act, 1961, the Central Board of Direct Taxes makes the Income-tax (Fourth Amendment) Rules, 2003, amending the Table to Appendix I of the Income-tax Rules, 1962. In Part A relating to tangible assets, under the heading "III. Machinery and Plant", in sub-item (3), the figure in column 2 against entries (viii), (ix) and (x) is substituted from "80" to "100" in each case. The depreciation rate for those three entries is thereby raised from 80 to 100.

Who it reaches

assessees owning the plant and machinery covered by entries (viii), (ix) and (x) of sub-item (3)
persons computing depreciation in the block of assets for those items
tax auditors reporting depreciation particulars
assessing officers checking the rate applied

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.295	s.533

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 : 75

Section(s) Referred :

Date of Issue : 1/4/2003

Notification No. 75 of 2003, dt. 1st April, 2003

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:

1. (1) These rules may be called the Income-tax (Fourth Amendment) Rules, 2003.

(2) They shall come into force from the 1st day of April, 2003.

2. In the Table to Appendix-I of the Income-tax Rules, 1962, in Part A relating to TANGIBLE ASSETS, under the heading "III. MACHINERY AND PLANT", in sub-item (3),--

(a) against entry (viii), in column 2, for the figures "80", the figures "100" shall be substituted;

(b) against entry (ix), in column 2, for the figures "80", the figures "100" shall be substituted;

(c) against entry (x), in column 2, for the figures "80", the figures "100" shall be substituted.

From when

1 April 2003.

What to watch

The rules come into force from 1 April 2003.
The change is to the rate column of the depreciation Table in Appendix I, not to any rule.
All three entries (viii), (ix) and (x) move from 80 to 100 together.
The archived text does not set out the description of the assets in those entries, so the Table must be consulted for what they cover.

Where you meet it

In the depreciation schedule of the return of income and in the tax audit particulars, where the rate for the relevant block of plant and machinery is applied.

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. 54/2026 [F. No. 370142/15/2026-TPL] / G.S.R. 240(E) — Ministry of Finance 31 March 2026
Notification No. 52/2026 [F.No. 370142/13/2026-TPL] / G.S.R. 233(E) — (Central Board of Direct Taxes) 30 March 2026
Notification No. 141/2025 [F. No. 370142/30/2025-TPL] / G.S.R. 598(E) — Ministry of Finance 1 September 2025
Notification No. 136/2025 [F. No. 370142/29/2025-TPL] / G.S.R 566(E) — Ministry of Finance 21 August 2025
Notification No. 133/2025 [F. No. 370142/27/2025-TPL] / G.S.R 555(E) — Ministry of Finance 18 August 2025
Notification No. 132/2025 [F. No. 370142/34/2025-TPL] / G.S.R. 553(E) — Ministry of Finance 14 August 2025

← Notification No. 76 · Notification No. 74 →

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.