RULE 248 INCOME-TAX RULES 2026 RULE 248 INCOME-TAX RULES 2026 Charging of fee and submission of valuation report under section 514. 248. (1) Subject to the provisions of sub-rules (2) and (3), the fees to be charged by a registered valuer for valuation of any asset shall not exceed the amount calculated at the following rates:—… Read More »
RULE 247 INCOME-TAX RULES 2026 RULE 247 INCOME-TAX RULES 2026 Qualification of registered valuer for the purposes of section 514. 247. (1) For the purposes of section 514(2), the qualifications for registration as valuers, for different classes of assets shall be as specified in sub-rules (2) to (9). (2) The qualifications for registration as valuers, for… Read More »
RULE 246 INCOME-TAX RULES 2026 RULE 246 INCOME-TAX RULES 2026 Application for registration as valuer under section 514. 246. (1) An application for registration as a valuer under section 514(2) shall be made in Form No. 169 and shall be verified in the manner specified therein and shall be accompanied by a non-refundable fee of Rs.… Read More »
RULE 245 INCOME-TAX RULES 2026 RULE 245 INCOME-TAX RULES 2026 Annual Information Statement. 245. (1) The Director General of Income-tax (Systems) or any person authorised by him shall, under section 510, upload in the registered account of the assessee, an annual information system Form No. 168 containing the following information, which is in his possession within… Read More »
RULE 244 INCOME-TAX RULES 2026 RULE 244 INCOME-TAX RULES 2026 Due diligence procedures under section 509. 244. (1) A crypto-asset user is treated as a reportable user beginning as of the date it is identified as such, pursuant to the due diligence procedures specified in this rule. (2) The following procedures shall apply for the purposes… Read More »
RULE 243 INCOME-TAX RULES 2026 RULE 243 INCOME-TAX RULES 2026 Reporting requirements for transaction of crypto-asset under section 509. 243. (1) For each relevant calendar year starting on or after the 1st January, 2026 and subject to the obligations of the reporting crypto-asset service provider under section 242 and due diligence procedures under section 244, the… Read More »
RULE 242 INCOME-TAX RULES 2026 RULE 242 INCOME-TAX RULES 2026 Obligation for reporting transaction of crypto-asset under section 509. 242. (1) A reporting crypto-asset service provider is subject to the reporting requirements under rule 243 and due diligence requirements under rule 244, if it is— (a) an entity or individual resident for tax purposes in India;… Read More »
RULE 241 INCOME-TAX RULES 2026 RULE 241 INCOME-TAX RULES 2026 Definitions for purposes of rules 242, 243 and 244. 241. For the purposes of rules 242, 243 and 244,— (1) “Anti Money Laundering or Know Your Customer Procedures” means the customer due diligence procedures of a reporting crypto-asset service provider as provided under the Prevention of… Read More »
RULE 240 INCOME-TAX RULES 2026 RULE 240 INCOME-TAX RULES 2026 Due diligence requirement. 240. (1) An account shall be treated as a reportable account beginning as on the date it is identified as such pursuant to the due diligence procedure specified in sub-rule (3) to sub-rule (8) and, unless otherwise provided, information with respect to a… Read More »
RULE 239 INCOME-TAX RULES 2026 RULE 239 INCOME-TAX RULES 2026 Information to be maintained and reported. 239. (1) The following information shall be maintained and reported by a reporting financial institution in respect of each reportable account: — (a) the name, address, taxpayer identification number (assigned to the account holder by the country or territory of… Read More »