The CBDT, via Notification No. 120/2026 dated 24 September 2026, has extended the registration validity period for Registered Valuers and Authorised Income-tax Practitioners until 31 March 2027. This extension provides a crucial reprieve for professionals whose registrations were due to expire earlier, ensuring continuity in valuation services required for capital gains computation, slump sales, and mergers under the Income-tax Act, 1961. Concurrently, the notification introduces revised Formats 169 (Application for Registration as Valuer) and 171 (Certificate of Registration), incorporating mandatory fields for Unique Identification Number (UIN), peer review status, and professional indemnity insurance details. The revision aims to enhance the quality and accountability of valuation reports submitted to tax authorities.
Key Takeaways
- Extended Validity Window: All existing registrations valid as on 30 September 2026 are automatically extended to 31 March 2027 without requiring fresh applications, reducing administrative burden on over 15,000 registered valuers nationwide.
- Enhanced Disclosure in Revised Forms: New Form 169 requires disclosure of any disciplinary proceedings by professional bodies (ICAI, ICSI, ICMAI), while Form 171 now includes a QR code linking to the valuer’s real-time status on the CBDT portal, facilitating instant verification by Assessing Officers.
- Impact on Tax Audits and Appeals: Valuation reports dated between 1 October 2026 and 31 March 2027 bearing the extended registration will be accepted without objection, preventing delays in assessment proceedings under Sections 142(2A) and 143(3).
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement