Rule 238 - Definitions for reportable-account rules
Reviewed by CA Nikhil Gupta · Last reviewed 29 August 2026
Local extract available Legacy mapping: 114F
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.
Rule text held in the production corpus
Local extract SHA-256: 855d2d06f03eb6b22df87c56f177fc78dab4dcdb41ee181240e368faec8b2c6c. 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
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Related Forms
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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
Primary sources & verification — Rule 238 — exact-source and implementation control
Reviewed: 22 August 2026.
Notified heading: Rule 238. Definitions.
Rule 238 is a definitions provision for rules 238-240. Classification of a financial account, institution, reportable person/entity or excluded account should be resolved from the notified definitions before applying the reporting and due-diligence rules.
Identify the exact assessment year/tax year before applying this page. AY 2026-27 (income of FY 2025-26) remains governed by the Income-tax Act, 1961; Tax Year 2026-27 onward is governed by the Income-tax Act, 2025 and the Income-tax Rules, 2026. Do not mix section numbers, forms or due-date rules across the transition.
Practical verification checklist
- Open the notified Income-tax Rules, 2026 text for the complete sub-rules/provisos.
- Record the governing period and Act.
- Retain computation, payment/filing acknowledgement and supporting evidence.
- Re-check later notifications, forms and portal implementation before action.
Primary-source checkpoint
- Income Tax Department — Income Tax Act 2025 transition/returns guidance
- Income-tax Rules, 2026 — notified PDF
Use the controlling statute, notified rule/instrument, official portal and later authoritative treatment for the relevant date. This page remains an educational/professional reference.