March 23, 2026

Submitted By: Shweta Verma

(Inventory Valuation Report under Section 268(5)(ii) of the Income-tax Act, 2025 read with Rule 171 of the Income-tax Rules, 2026)

Form 101 is an Inventory Valuation Report to be furnished by a Cost Accountant as per directions received from the Assessing Officer with prior approval of the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner of Income-tax under Section 268(5)(ii) of the Income-tax Act, 2025. It ensures accurate valuation of inventories for tax computation and verification purposes, in line with the Act and the Income Computation and Disclosure Standards (ICDS).