The Central Board of Direct Taxes (CBDT) has amended the Income Tax Act to include Rule 132. The re-computation of income under sub-Section 18 of Section 155 of the Income Tax Act, 1961, is addressed in Rule 132 of the Income Tax Rules, 1962, which was implemented on October 1, 2022. It is crucial for anyone in charge of managing businesses to be aware of the recently added Rule 132 of the Income Tax Act. The income tax act’s CBDT regulation 132 considers whether businesses should deduct surcharge payments when determining their taxable income. To seek for the re-computation of total income under Section 155(18), Form 69 has been made available by the Income Tax Department under Rule 132 of the Income Tax Act. For those with income from a business or profession who have also taken advantage of the cess/surcharge deduction, Rule 132 has been adopted. Hence, Form 69 must be used by taxpayers who have claimed a deduction for a cess or surcharge and submitted on the income tax portal electronically with the duly filed information like taxable income, tax paid, and deduction claimed as cess or surcharge.