Notification No. 86/2016 [F.No.142/13/2015-TPL] / SO 3075(E)

[To BE Published in the Gazette of INDIA, Extraordinary, Part-ii, section 3, Sub-section (ii)]

What this is

Notification No. 86/2016 [F.No.142/13/2015-TPL] / SO 3075(E) was published on 29 September 2016. Its subject is [To BE Published in the Gazette of INDIA, Extraordinary, Part-ii, section 3, Sub-section (ii)].

What it does

In exercise of the powers under sub-section (2) of section 145 of the Income-tax Act, 1961, the Central Government rescinds its notification S.O. 892(E) dated 31 March 2015, except as respects things done or omitted to be done before the rescission.

Who it reaches

Assessees who were computing income under the standards notified by S.O. 892(E)
Chartered accountants reporting compliance with those standards
Assessing Officers examining computations for the period the notification was in force
Software and accounting systems built to the rescinded notification

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.3	s.3
s.145	s.276

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (ii)]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF DIRECT TAXES)
Notification

New Delhi 29th September, 2016

S.O. 3078(E). — In exercise of the powers conferred by sub-section (2) of section 145 of the Income-tax Act, 1961(43 of 1961), the Central Government hereby rescinds the notification of the Government of India in the Ministry of Finance, Department of Revenue, published in the Gazette of India, Part-II, Section 3, Sub-section (ii), vide notification number S.O. 892(E) dated the 31st March, 2015, except as respects things done or omitted to be done before such rescission.

[Notification No. 86/2016/F.No.133/23/2015-TPL]

(PITAMBAR DAS)
DIRECTOR (TAX POLICY AND LEGISLATION)

What to watch

The saving clause preserves things done or omitted before the rescission, so the position for earlier periods is not unsettled.
The text states no date from which the rescission operates beyond the date of the notification itself, 29 September 2016.
The rescinded notification is identified only by its number and date; S.O. 892(E) dated 31 March 2015 must be consulted for what falls away.
The gazette number printed in the body is S.O. 3078(E) while the heading gives S.O. 3075(E), and the file number in the closing bracket differs from that in the heading; the gazette copy should be seen before either is cited.

Where you meet it

In the computation of income under section 145 and in an accountant's report on the standards followed.

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. 94/2026 [F. No. 370142/24/2026-TPL] / G.S.R. 646(E) : Income-tax (Second Amendment) Rules, 2026 : Amendment of rule 157 of the Income tax Rules, 2026 to align the definition of the specified fund with rule 114AAB of the Income tax Rules, 1962 — Ministry of Finance 21 July 2026
Notification No. 64 — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 7 16 April 2026
Notification No. 63/2026 [F. No. 370142/13/2026-TPL]/ GSR 268(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(i)] 10 April 2026
Notification No. 62/2026 [F. No. 370142/10/2026-TPL]/ GSR 267(E) — Ministry of Finance 10 April 2026
Notification No. 61/2026 [F. No. 370142/9/2026-TPL] / GSR 266(E) — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3 10 April 2026
Notification No. 60/2026 [F. No. 370142/8/2026-TPL]/ GSR 265(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(i)] 10 April 2026

← Notification No. 88/2016 [F.No.133/23/2015-TPL] / SO 3080(E) · Notification No. 87/2016 [F.No.133/23/2015-TPL] / SO 3079(E) →

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.