Income-tax Rules, 2026 | Rule 129 of 333

Rule 129 - Notice and Forms for reference under section 274

Reviewed by CA Nikhil Gupta · Last reviewed 29 August 2026

Local extract available Legacy mapping: Not recorded

129Rule number

2004Local 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

Notice and forms for reference under section 274. 129. (1) For the purposes of section 274(1), before making a reference to the Commissioner, the Assessing Officer shall issue a notice to the assessee seeking objections, if any, as to the applicability of provisions of Chapter XI in his case. (2) The notice referred to in sub-rule (1) shall contain— (a) details of the arrangement to which the provisions of Chapter XI are proposed to be applied; (b) the tax benefit arising under the arrangement; (c) the basis and reason for considering that the main purpose of the identified arrangement is to obtain tax benefit; (d) the basis and reasons why the arrangement satisfies the conditions in section 179(1)(a) to (d); and (e) the list of documents and evidence relied upon in respect of clauses (c) and (d). (3) The reference by the Assessing Officer to the Commissioner under section 274(1) shall be in Form No. 62. (4) Where the Commissioner is satisfied that the provisions of Chapter XI are not required to be invoked with reference to an arrangement, he shall record his satisfaction regarding the applicability of the provisions of Chapter XI in Form No. 63 and issue directions to the Assessing Officer in Form No. 63, after considering the reference received from the Assessing Officer under section 274(1), or the assessee's reply to the notice issued under section 274(2). (5) The Commissioner, before making a reference to the Approving Panel under section 274(4), shall record his satisfaction regarding the applicability of the provisions of Chapter XI in Form No. 64, and seek a specific factual report in writing from the International Financial Service Centre Authority, where the assessee is an entity located in an International Financial Service Centre. (6) The Commissioner or Principal Commissioner shall make a reference under section 274(4) to an Approving Panel in Form No. 64, with such other documents as deemed fit, all submitted in four sets, in either Hindi or English.

Local extract SHA-256: 29d17bcecb9e3f24737daf968b7a344295e7cf923a3f5ec4f56bc39b13b8554a. This hash authenticates the local extract only; it does not certify that every amendment, table or Gazette footnote has been consolidated.

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Related sections

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Official starting point: www.incometaxindia.gov.in

Page source links

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