Income-tax Rules, 2026 | Rule 101 of 333

Rule 101 - Procedure governing safe harbour for income attribution in business or profession

Reviewed by CA Nikhil Gupta · Last reviewed 29 August 2026

Local extract available Legacy mapping: 10TI-10TIC

101Rule number

1384Local text characters

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Source and status control

Primary authority: Notification No. 22/2026 / G.S.R. 198(E)

Currentness control: Base Rules effective 1 April 2026. Check later amendments, corrigenda and portal implementation before action.

Local statutory extract - official source controls

Rule text held in the production corpus

Procedure governing safe harbour rules for income attribution in case of income from business and profession. 101. (1) For exercising option for safe harbour, the assessee shall furnish Form No. 49, complete in all respects, to the Assessing Officer before furnishing the return of income under section 263 for the relevant tax year. (2) The income from eligible business shall be determined in accordance with the provisions of the Act without having regard to the provisions of rule 100(2), where the assessee does not exercise option for safe harbour under rule 100(1). (3) The Assessing Officer may declare the option for safe harbour as invalid by an order in writing, where the assessee has (a) availed the safe harbour by furnishing incorrect facts; or (b) concealed facts related to his business. (4) The Assessing Officer shall afford a reasonable opportunity of being heard to the assessee before declaring the option for safe harbour invalid under sub-rule (3). (5) The Assessing Officer shall serve a copy of the order referred to under sub-rule (3) to the assessee and the other provisions of the Act shall apply accordingly. (6) Form No. 49 shall be furnished electronically either under digital signature or through electronic verification code and shall be verified by the person who is authorised to verify the return of income of the assessee under section 265.

Local extract SHA-256: e92801dc70d82ef4221bbd3fb750321f80142efd07998857ec92fff079bdcd14. This hash authenticates the local extract only; it does not certify that every amendment, table or Gazette footnote has been consolidated.

Rule map

Related sections

Use the title and official text to identify the governing section; no local section reference is asserted.

Related Forms

Form 49

Finin2min implementation framework

Trigger and scope

Determine whether the facts fall within the Rule heading and linked section. Verify commencement and the tax year involved.

Evidence and control

Preserve the return, statement, report, certificate, computation, source records and acknowledgement relevant to this Rule.

Consequence

Non-compliance may affect computation, exemption, deduction, procedural validity, reporting, recovery, appeal or penalty depending on the governing section.

Transaction application

Identify the actor, event date, governing tax year or reporting period, authority, document version and every cumulative condition. Record why each limb is satisfied, disputed or not applicable.

Authority, consent and execution

Confirm legal capacity, authorised signatory, digital-signature requirements, professional certification and portal credentials before filing or relying on the document.

Evidence and retention checklist

Retain source data, approvals, computations, correspondence, filing acknowledgement, payment record, amended filing history and the version of the governing instrument used.

Limitation, forum and remedies

Do not assume a general limitation period. Check the specific Act, Rule, notification, portal window, condonation power, appeal route and judicial treatment applicable to the event date.

Cross-law overlays

Check the Income-tax Act, 2025, transition rules, relevant Schedule, tax treaty, Companies Act, GST, FEMA and accounting treatment where the transaction crosses regimes.

Finin2min Q&A

Is this page the notified Rule?

It contains a local statutory extract, but the linked official source and later amendments control.

What should be verified immediately before use?

Effective date, amendment history, forms or utilities, filing channel, authentication method, due date, fees, transition from the 1962 Rules and any judicial interpretation.

Source and review trail

Use the current official instrument, portal or regulator publication before acting. This panel separates the category authority from page-specific references.

Official starting point: www.incometaxindia.gov.in

Page source links

Notification No. 22/2026 / G.S.R. 198(E)