Form 166 Income Tax Rules 2026 pdf download and Key points

Last Updated on: April 23, 2026

Form 166 Income Tax Rules 2026 pdf download and Key points

FORM NO. 166
[See rule 239]
Statement of Reportable Account under section 508(1)

he primary purpose of Form 166 is to provide a standardized certification by a Chartered Accountant regarding the determination of the Arm’s Length Price (ALP) or other specific international tax compliance requirements.

Legal Basis: It is prescribed under the provisions of Section 166 of the Income-tax Act, 2025.
Issuer: This form must be issued and signed by an “Accountant” (as defined in Section 515(3)(b), typically a practicing Chartered Accountant).
Context: It is often used in conjunction with Form 46 (the Exercise of option for determination of Arm’s Length Price).
Objective: To certify that the figures, computations, and methods used by the taxpayer to determine international transaction values or domestic specified transactions are accurate and comply with the new Act’s Transfer Pricing guidelines.