Rules 245 and 246 of the Draft Income-tax Rules, 2026 lay down provisions relating to the Annual Information Statement (AIS) and the process for registration as a valuer under the Act. Rule 245 provides that the Director General of Income-tax (Systems), or any authorised person, shall upload an Annual Information Statement in Form No. 168 in the registered account of the assessee under section 510 of the Act within ninety days from the end of the month in which the information is received. The statement will include details available with the department such as information relating to tax deducted or collected at source, specified financial transactions, payment of taxes, tax demand and refunds, pending proceedings, completed proceedings, and any other authorised information. The Board may also authorise the inclusion of information received from officers, authorities, bodies performing functions under any law, information obtained under agreements referred to in section 159 of the Act, or information received from any other person where considered necessary in the interest of revenue.
Rule 246 prescribes the procedure for applying for registration as a valuer under section 514(2) of the Act. Applications must be submitted in Form No. 169 along with a non-refundable fee of ₹10,000. Pending applications submitted before the commencement of the Act may be treated as valid if they contain the required qualification details and the applicant pays an additional fee of ₹5,000 within six months. If the application does not contain the prescribed qualifications under Rule 247, a fresh application must be filed, though the earlier fee will be adjusted. Applicants who become ineligible due to qualification requirements may seek refund of the fee already paid.
Extract of Rule No. 245 and 246 of Draft Income-tax Rules, 2026
Rule 245
Annual Information Statement.
(1) The Director General of Income-tax (Systems) or any person authorised by him shall, under section 510 of the Act, upload in the registered account of the assessee an annual information system Form No. 168 containing the information below, which is in his possession within ninety days from the end of the month in which the information is received by him:
(a) Information relating to tax deducted or collected at source;
(b) Information relating to specified financial transaction; (c) Information relating to payment of taxes;
(d) Information relating to demand and refund; (e) Information relating to pending proceedings;
(f) Information relating to completed proceedings;
(g) Any other information authorised in relation to sub-rule 2.
(2) The Board may also authorise the Director General of Income-tax (Systems) or any person authorised by him to upload any information received from any officer, authority or body performing any function under any law or the information received under an agreement referred to in section 159 of the Act or the information received from any other person to the extent as it may deem fit in the interest of the revenue in the annual information statement referred to in sub-rule (1).
Rule 246
Application for registration as valuer under section 514 of the Act.
(1) An application for registration as a valuer under section 514(2) shall be in Form No. 169 and shall be verified in the manner specified therein and shall be accompanied by a nonrefundable fee of Rs. 10,000.
(2) Where an application for registration as a valuer is pending before the authorities mentioned in section 514(2), immediately before the date of coming into force of the Act and such application includes the details of qualifications specified in sub-rule 2 (Serial number (1), (5), (6), (7), (8) and (10) of the Table) of rule 247, such application may be treated as valid if the applicant remits a further fee of Rs. 5,000 to the said authority within a period of six months from the date of coming into force of Income Tax Act, 2025. In case such application does not include the qualifications as specified in the provisions of rule 247, a fresh application for registration as a valuer shall be made and the fee already paid by the applicant shall be adjusted towards the payment of fee of Rs. 10,000.
(3) In case any person has become ineligible for making an application for registration as a valuer in view of the qualifications specified in the provisions of rule 247, the fee already paid by the applicant shall be refunded on an application made by him to the authorities mentioned in section 514(2).
