Quick Summary
The Draft Income-tax Rules, 2026 continue their push towards standardisation and transparency with the introduction of Rule 172, which lays down uniform guidelines for determining expenses related to special audit and inventory valuation ordered by the tax authorities. This rule is particularly rel
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FAQ :
Rule 172 provides uniform guidelines for determining expenses related to special audits and inventory valuations ordered by tax authorities, aiming for standardisation and transparency.
Every Chief Commissioner of Income-tax (CCIT) is required to maintain a formal panel of qualified accountants and cost accountants under Rule 172.
These guidelines apply when an Assessing Officer directs a special audit or an inventory valuation under the Act.
The rule prescribes a minimum rate of £3,750 per hour and a maximum rate of £7,500 per hour, inclusive of all expenses.
Appointed accountants and cost accountants must maintain detailed time-sheets and submit them along with their bills to the relevant tax authorities.
The Chief Commissioner or Commissioner of Income-tax must ensure that the number of hours billed is reasonable and commensurate with the complexity and quality of the submitted report.
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