CBDT INVITES STAKEHOLDER INPUTS ON DRAFT INCOME-TAX RULES, FORMS AHEAD OF APRIL 1 ROLLOUT

New Delhi, February 8, 2026: The Central Board of Direct Taxes (CBDT) has invited comments and suggestions from stakeholders on the proposed Income-tax Rules and related Forms framed under the newly enacted Income-tax Act, 2025, which is scheduled to come into force from April 1, 2026.

The Income-tax Act, 2025, received Presidential assent in August 2025 and represents a comprehensive overhaul of India’s direct tax framework. In preparation for its implementation, the Department of Revenue under the Ministry of Finance has released the draft Rules and Forms for public consultation, signalling a consultative approach aimed at a smoother transition and better compliance.

The draft Income-tax Rules and Forms have been uploaded on the official website of the Income Tax Department (https://eportal.incometax.gov.in/iec/foservices/#/pre-login/ita-comprehensive-review) for examination by professionals, trade bodies, and other stakeholders. Inputs received will be compiled and reviewed before final notification of the Rules.

CBDT ने नए आयकर नियमों पर हितधारकों से सुझाव आमंत्रित किए

नई दिल्ली, 8 फरवरी 2026: केंद्रीय प्रत्यक्ष कर बोर्ड (CBDT) ने नए आयकर अधिनियम, 2025 के अंतर्गत प्रस्तावित आयकर नियमों (Income-tax Rules) और प्रपत्रों (Forms) पर सभी हितधारकों से सुझाव आमंत्रित किए हैं। यह नया कानून 1 अप्रैल 2026 से लागू होने जा रहा है।

सरकार ने इन नियमों और फॉर्म्स का मसौदा (Draft) तैयार कर आयकर विभाग की आधिकारिक वेबसाइट पर सार्वजनिक किया है, ताकि अंतिम अधिसूचना से पहले सभी संबंधित पेशेवरों से राय ली जा सके।

सुझाव कैसे दें?

आयकर विभाग ने ई-फाइलिंग पोर्टल पर एक विशेष लिंक उपलब्ध कराया है, जहाँ कोई भी हितधारक अपने सुझाव दर्ज कर सकता है।
सुझाव देते समय संबंधित नियम संख्या, उप-नियम या फॉर्म नंबर का स्पष्ट उल्लेख करना आवश्यक है।

वैल्यूअर्स और इंजीनियरों के लिए महत्व

यह पहल पंजीकृत वैल्यूअर्स, इंजीनियरों, चार्टर्ड अकाउंटेंट्स और टैक्स प्रोफेशनल्स के लिए विशेष रूप से महत्वपूर्ण है।
नए आयकर नियमों में संपत्ति मूल्यांकन (Property Valuation), रिपोर्टिंग मानक और अनुपालन प्रक्रियाओं से जुड़े प्रावधान शामिल हैं, जिनका सीधा प्रभाव वैल्यूअर्स की पेशेवर गतिविधियों पर पड़ेगा।

यह अवसर वैल्यूअर्स को यह सुझाव देने का मंच देता है कि:

मूल्यांकन से जुड़े नियम व्यावहारिक हों
अनावश्यक जटिलताओं को हटाया जाए
विवादों की संभावनाओं को कम किया जाए

निष्कर्ष (Key Takeaway for Presentation)

नया आयकर कानून लागू होने से पहले नियमों को व्यावहारिक, सरल और पेशेवर-अनुकूल बनाने का यह एक सुनहरा अवसर है। वैल्यूअर्स को सक्रिय रूप से अपने सुझाव देने चाहिए ताकि भविष्य में अनुपालन आसान और विवाद कम हों।

KEY ASPECTS RELATING TO VALUERS UNDER THE DRAFT INCOME-TAX RULES, 2026

(Rules 246 to 249 read with Rule 247)

Dr. Rajwinder Singh Bansal, AMIE, LLB

Er. Sundeep Bansal, BE, LLB

For the Council of Engineers and Valuers
(For Professional Circulation among Valuers, Chartered Engineers, and Financial Experts)

1. Statutory Framework for Valuers

The Draft Income-tax Rules, 2026, introduce a comprehensive and structured regime governing valuers under section 514 of the Income-tax Act, 2025. These rules regulate the registration, qualifications, eligibility, conduct, fees, and reporting format of valuers for income-tax purposes.

Application for Registration as Valuer (Rule 246)

Registration as a valuer is mandatory for valuation under the Act.

Application shall be made in Form No. 169.
The application must be verified in the prescribed manner.
A non-refundable fee of ₹10,000 is payable.
Transitional provision allows certain pending applications to be treated as valid on payment of an additional ₹5,000, subject to fulfilment of qualification criteria.
Where an applicant becomes ineligible due to new qualification requirements, the fee already paid is refundable on application.
The application must be disposed of within six months from the end of the month in which it is made.
The authority may call for further information before granting or rejecting registration.

Qualifications of Registered Valuers (Rule 247)

3.1 Asset-wise Classification

The rules prescribe specific qualifications for different classes of assets, including:

Immovable property (other than agricultural land, plantations, forests, mines and quarries)
Agricultural land
Plantations (coffee, tea, rubber, cardamom)
Forests
Mines and quarries
Financial assets, business assets and goodwill
Machinery and plant
Jewellery
Works of art
Life interest, reversions and interests in expectancy.

3.2 Specific Provisions

The applicant must:

Possess a graduate or post-graduate degree in specified disciplines in valuation from a recognised university, or a qualification recognised by the Central Government.
Have:
- At least ten years’ experience as an engineer or valuer (reduced to two years if holding a post-graduate degree in valuation), or
- Ten years of teaching experience in relevant engineering or valuation subjects, or
- Ten years’ professional practice as a consulting engineer or valuer with prescribed minimum gross receipts.

These requirements are laid down exhaustively in the rule, with no scope for relaxation outside the rule framework.

General Eligibility and Disqualifications (Rule 247(4) & (5))

A person shall not qualify for registration as a valuer if:

He is currently employed under the Government or any other employer (except for specified asset classes).
He has been dismissed or removed from Government service.
He is not a valuer member of, or not recommended by, a registered valuers organisation under the Companies (Registered Valuers and Valuation) Rules, 2017.
He has been convicted or penalised under specified provisions of income-tax, wealth-tax or gift-tax laws.
He is an undischarged insolvent or bankrupt.
He has been convicted of any offence involving imprisonment.
He has been found guilty of professional misconduct.
He is a minor or of unsound mind.
He has not been found fit to be registered, for reasons recorded in writing after providing an opportunity of being heard.

Recognition of Experience and Qualifications

Degrees must be from a recognised university, including UGC-recognised institutions and certain recognised foreign universities.
Mere membership of an institution is insufficient unless it is granted on the basis of passing prescribed examinations.

Valuation Report (Rule 249)

Every valuation carried out by a registered valuer must be reported strictly in Form No. 170.
The format is mandatory and uniform for all classes of assets.

513. Appearance by registered valuer in certain matters.

(1) Any assessee, entitled or required to attend before any income-tax authority or the Appellate Tribunal in matters relating to the valuation of any asset, may attend through a registered valuer.

(2) The provisions of sub-section (1) shall not apply, where the assessee is required to attend personally for examination on oath or affirmation under section 246.

(3) For the purposes of this section, the expression “registered valuer” means a person registered as a valuer under section

Section 514 read with Rules 246 to 249

Registration, Qualification, Duties and Fees of Valuers under the Income-tax Act, 2025

Statutory Scheme of Valuation under the Act

Section 514 of the Income-tax Act, 2025 lays down the substantive law relating to registration of valuers, while Rules 246 to 249 provide the procedural and operational framework for giving effect to the said section. Together, they regulate the registration, qualifications, obligations, fees, and reporting standards applicable to valuers under the Act.

Register of Valuers – Section 514(1)

Section 514(1) mandates that the Principal Chief Commissioner or Chief Commissioner, or the Principal Director General or Director General shall maintain a register of valuers.
The register shall contain the names and addresses of persons registered as valuers under Section 514(2).

This statutory register forms the official record of persons authorised to undertake valuation under the Act.

Application for Registration – Section 514(2) read with Rule 246

3.1 Right to Apply

Under Section 514(2), any person possessing such qualifications for valuing such class of assets as may be prescribed may apply for registration as a valuer.

3.2 Form, Verification and Fee

Rule 246 gives effect to this provision by prescribing that:

The application shall be made in Form No. 169;
The application shall be verified in the prescribed manner.
The application shall be accompanied by a non-refundable fee of ₹10,000.

4. Qualifications of Valuers – Section 514(2) read with Rule 247

Section 514(2) requires that an applicant must possess prescribed qualifications for valuing the relevant class of assets.

Thus, Rule 247 operationalises the qualification requirement contemplated under Section 514(2).

Rule 247

Qualification of Registered Valuer for the purposes of section 514 of the Act.

For the purposes of section 514(2), the qualifications for registration as valuers, for different classes of asset shall be as specified in sub-rules (2) to (9).

The qualifications for registration as valuers, for classes of assets mentioned in column B of the Table given below shall be as specified in column C of the said Table:

Table

S. No.

Class of Asset

Qualification

Immovable property (other than agricultural lands, plantations, forests, mines and quarries)

The applicant must— (i) (A) be a graduate in civil engineering, architecture or town planning from a recognised university; or

(B) be a post-graduate in valuation of real estate from a recognised university; or

(C) possess a qualification recognised by the Central Government for recruitment to superior services or posts under the Central Government in the field of civil engineering, architecture or town planning; and

(ii) (A) be a person formerly employed—

a) in a post under Government as a gazetted officer; or

b) in a post under any other employer carrying a remuneration of not less than ₹ 50000 per month, and, in either case, must have retired or resigned from such employment after having rendered service for not less than ten years (or two years, if he possesses a post-graduate degree in valuation of real estate from a recognised university) as a valuer, architect or town planner, or in the field of construction of buildings, designing of structures, or development of land; or

as a professor, reader or lecturer in a university, college or any other institution preparing students for a degree in civil engineering, architecture or town planning, or for any qualification referred to in clause (i), and must have retired or resigned from such employment after having taught for not less than ten years (or two years, if he possesses a post-graduate degree in valuation of real estate from a recognised university) any of the subjects of valuation, quantity surveying, building construction, architecture, or town planning;

OR (B) have been in practice as a consulting engineer, valuer of real estate, surveyor or architect for a period of not less than ten years (or two years, if he possesses a post-graduate degree in valuation of real estate from a recognised university) and must have acquired experience in any of the following fields:

a) valuation of buildings and urban lands; or

b) quantity surveying in building construction; or

c) architectural or structural designing of buildings or town planning; or

d) construction of buildings or development of land;

and his gross receipts from such practice should not be less than ₹ 100000 in any three of the five preceding years (or in any one of the two preceding years, if he possesses a postgraduate degree in valuation of real estate from a recognised university), immediately preceding the year in which the application for registration as a valuer is made by him.

(5) Notwithstanding anything contained in sub-rules (1) to (4), no person shall qualify for registration as a valuer if,—

a) he has been dismissed or removed from Government service; or
b) he is not a valuer member of a valuers organisation registered under the Companies (Registered Valuers and Valuation) Rules, 2017; or
c) he is not been recommended by the valuers organisation registered under the Companies (Registered Valuers and Valuation) Rules, 2017, of which he is a valuer member for registration as a valuer; or
d) he has been convicted of an offence connected with any proceeding under the Income-tax Act, 1961 (43 of 1961), or the Wealth-tax Act, 1957 (27 of 1957), or the Gift-tax Act, 1958 (18 of 1958), or a penalty has been imposed on him under section 271(1)(iii) or section 273(i) or section 270A or section 271J of the Income-tax Act, 1961, or under section 439 or section 463 of the Income-tax Act, 2025, or under section 18(1)(iii) of the Wealth-tax Act, 1957 or section 17(1) of the Gift-tax Act, 1958 (18 of 1958);

Regulation of Fees – Section 514(2)(c) read with Rule 248

Section 514(2)(c) empowers the prescription of maximum fees chargeable by a registered valuer.

Rule 248 gives effect to this by:

Scale of Fees Chargeable by Registered Valuer (Rule 248)

Prescribing a minimum fee of ₹5,000.

Thus, Rule 248 ensures statutory control over valuation charges as contemplated by the section.

Valuation Report – Section 514(3) read with Rule 249

Section 514(3) mandates that every valuation report prepared by a registered valuer shall be:

In such form, and
Verified in such manner, as may be prescribed.

Rule 249 implements this requirement by prescribing that:

The valuation report shall be furnished strictly in Form No. 170.

This ensures uniformity and standardisation of valuation reports under the Act.

Integrated Effect of Section 514 and Rules 246–249

When read together:

Section 514 lays down the statutory authority, eligibility, obligations, and reporting mandate for valuers; and
Rules 246 to 249 provide the procedural machinery governing registration, qualifications, fees, and valuation reports.

Together, they constitute a complete code governing registered valuers for the purposes of the Income-tax Act, 2025.

Final Observations as an organisation

The Draft Income-tax Rules, 2026, establish a tightened regulatory framework for valuers by clearly defining qualifications, experience thresholds, ethical standards, fee ceilings, and reporting formats. The emphasis is on professional competence, accountability, and uniformity in valuation reports used for income-tax purposes.