Income Tax Rules, 2026 Part 1 & 2 | With FAQs & Guidance Notes | Also Containing Income Computation & Disclosure Standards

Income Tax Rules, 2026 (Part 1 & 2) by Bharat is a comprehensive and authoritative two-volume compendium presenting the complete framework of the newly structured Income-tax Rules, 2026 alongside the legacy Income-tax Rules, 1962. The work offers a systematic transition mapping between the old and new rules and forms, ensuring clarity and continuity for users adapting to the updated regime. It consolidates a wide spectrum of allied rules, procedural frameworks, and statutory schemes governing income tax administration, dispute resolution, appellate procedures, and faceless mechanisms, making it an indispensable reference for understanding the evolving direct tax landscape in India.

Key Features:

• Complete text of Income-tax Rules, 2026, with corresponding mapping tables to 1962 Rules and Forms
• Inclusion of Income Computation and Disclosure Standards (ICDS I?X) with official clarifications
• Detailed coverage of procedural rules, including ITAT Rules, Certificate Proceedings, and Dispute Resolution Panel Rules
• Compilation of various schemes such as Faceless Assessment, Faceless Appeal, e-Verification, e-Settlement, and e-Dispute Resolution
• Incorporation of important taxation schemes like the Capital Gains Accounts Scheme, the Reverse Mortgage Scheme, and the NPS Tier II Tax Saver Scheme
• Coverage of litigation-reduction measures, including CBDT instructions on monetary limits for appeals
• Chronological listing of amendments for ease of legislative tracking
• Subject indexes for quick navigation across rules and allied provisions
• Inclusion of guidance-oriented content like FAQs and practical notes
• Additional e-book content covering STT Rules, Equalisation Levy Rules, Benami Property Rules, and more

This publication is ideally suited for chartered accountants, tax practitioners, advocates, and departmental officers who require an in-depth and updated understanding of income tax rules and procedures.

1.The Income-tax Rules, 2026
Text of Rules & Forms
Table 1: Corresponding Rule of I.T. Rules, 1962 = I.T. Rules, 2026
Table 2: Corresponding Form of I.T. Rules, 1962 = I.T. Rules, 2026
2.The Income-tax Rules, 1962
Subject Index
ANNEXURE 1: Income Computation and Disclosure Standards
A.Income Computation and Disclosure Standard I relating to accounting policies
B.Income Computation and Disclosure Standard II relating to valuation of inventories
C.Income Computation and Disclosure Standard III relating to construction contracts
D.Income Computation and Disclosure Standard IV relating to revenue recognition
E.Income Computation and Disclosure Standard V relating to tangible fixed assets
F.Income Computation and Disclosure Standard VI relating to the effects of changes in foreign exchange rates
G.Income Computation and Disclosure Standard VII relating to government grants
H.Income Computation and Disclosure Standard VIII relating to securities
I.Income Computation and Disclosure Standard IX relating to borrowing costs
J.Income Computation and Disclosure Standard X relating to provisions, contingent liabilities and contingent assets
Circular No. 10/2017, dated 23-3-2017: Clarifications on Income Computation and Disclosure Standards (ICDS) notified under section 145(2) of the Income-tax Act, 1961
3.The Income-tax (Certificate Proceedings) Rules, 1962
Text of Rules and Forms
Chronological list of amendments
Subject Index
4.The Income-tax (Appellate Tribunal) Rules, 1963
Text of Rules and Forms
Chronological list of amendments
CBDT Instruction: Revision of monetary limits for filing of appeals by the department before Income-tax Appellate Tribunal, High Courts and Supreme Court — Measures for reducing litigation — Regarding
Instructions regarding e-payment of ITAT fees
Subject Index
5.Income-tax (Dispute Resolution Panel) Rules, 2009
Text of the Rules
Chronological list of amendments
6.The Income-tax Settlement Commission (Procedure) Rules, 1997
Text of the Rules
Chronological list of amendments
7.The Authority for Advance Rulings (Procedure) Rules, 1996
Text of the Rules
8.Direct Tax Vivad Se Vishwas Rules, 2024
Text of the Rules
9.Reverse Mortgage Scheme, 2008
[For purposes of section 47(xvi)]
Text and Forms of the Scheme
10.Capital Gains Accounts Scheme, 1988
[For purposes of sections 54(2), 54B(2), 54D(2), 54F(4) and 54G(2)]
Text and Forms of the Scheme
Notification: Banks authorised to receive deposits under the scheme
11.Bank Term Deposit Scheme, 2006
[For purposes of section 80C(2)(xxi)]
Text and Forms of the Scheme
12.National Pension Scheme Tier II – Tax Saver Scheme, 2020
[For purposes of section 80C(2)(xxv)]
Text of the Scheme
13.Faceless jurisdiction of Income-tax Authorities Scheme, 2022
[For purposes of section 130(1) and (2)]
Text of the Scheme
14.e-Verification Scheme, 2021
[For purposes of section 135A(1) and (2)]
Text of the Scheme
15.e-Assessment of Income Escaping Assessment Scheme, 2022
[For purposes of section 151A(1) and (2)]
Text of the Scheme
16.Faceless Inquiry or Valuation Scheme, 2022
[For purposes of section 142B(1) and (2)]
Text of the Scheme
17.Centralised Processing of Returns Scheme, 2011
[For purposes of section 143(1A)]
Text of the Scheme
18.Faceless Assessment Scheme, 2019
(1)Faceless Assessment Scheme, 2019
[For purposes of section 143(3A)]
(2)Directions under section 143(3B) for Faceless Assessment Scheme, 2019
(3)Conduct of assessment proceedings through "E-Proceeding" facility during financial year 2019-20 — regarding: Circular No. 27 of 2019, dated September 26, 2019
19.e-Settlement Scheme, 2021
[For purposes of section 245D(11) and (12)]
Text of the Scheme
20.e-Dispute Resolution Scheme, 2022
[For purposes of section 245MA(3) and (4)]
Text of the Scheme
21.E-advance Rulings Scheme, 2022
[For purposes of section 245R(9) and (10) and 245W(2) and (3)]
Text of the Scheme
22.e-Appeals Scheme, 2023
Text of the Scheme
23.Faceless Appeal Scheme, 2021
(1)Faceless Appeal Scheme, 2021 [For purposes of section 250(6B) and (6C)]
(2)Authorised Income-tax Authorities to conduct e-appeal proceedings
24.Faceless Penalty Scheme, 2021
(1)Faceless Penalty Scheme, 2021
[For purposes of section 274(2A)]
(2)Directions under section 274(2B) for Faceless Penalty Scheme, 2021
25.Guidelines for Compounding of Offences under section 279(2)