Regulation

Form 170 Valuation Report: What It Must Contain

The contents a registered valuer's report must carry under the Income-tax Rules 2026, section by section, and the omissions that get reports rejected.

By ValuerDekho editorial team · Reviewed by Reviewing registered valuer (to be named) · Updated 6 September 2026

What Form 170 is

Form 170 is the report format prescribed by Rule 248 of the Income-tax Rules 2026 for every registered valuer’s report used for income-tax purposes: capital gains, fair market value as on 1 April 2001, gifts and transfers for inadequate consideration, partition, and any assessment where the officer asks for value. It is the first time India has prescribed a report structure for tax valuations, and it codifies what good valuers already did.

The sections, and why each exists

Valuer’s details. Name, registration number under Section 514 (or the 34AB number with the Form 169 acknowledgement during transition), asset class, address, contact. Officers verify these first.
Client and purpose. Who commissioned the report and for which provision. A report prepared for a bank cannot be recycled for capital gains without a purpose statement.
Valuation date. Date of transfer, 1 April 2001, date of gift or death. The wrong date is the most common fatal error.
Property description. Address, survey or CTS number, area (land and built-up, carpet where relevant), floor, age, construction type, condition, occupancy, tenure (freehold, leasehold, pagdi, thika), encumbrances.
Documents relied on. Title chain, plans, tax receipts, society records, state guideline value extract.
Inspection. Date, who inspected, measurements taken, photographs. Reports without this section are the ones assessing officers disregard.
Method and justification. Sales comparison, land and building, income capitalisation, or depreciated replacement cost, and why.
Evidence. Comparable transactions with dates, registrar data, rate indices for historical dates, adjustments made.
Value. In figures and words, with the state guideline value stated for comparison.
Declaration. That the valuer has no interest in the property, inspected it, and the report is true to the best of their knowledge; signature, seal, date.

What gets a report disregarded

No inspection, or inspection by an unnamed person.
Valuation date does not match the taxable event.
Comparables without dates or sources.
FMV 2001 derived only from the 2001 guideline value.
Value expressed as a range.
Missing registration number, or a 34AB number after 30 September 2026 without the Form 169 update.

Practical checklist before you file

Read the valuation date; check your name matches the deed; confirm the area matches the deed; look for the inspection date and photographs; find the registration number and verify it; keep the working papers the valuer offers.

Frequently asked questions

Can a Form 170 report be used for a visa?

Yes. It exceeds what embassies ask for; add a dual-currency line and passport-format names.

How long must I keep the report?

For the assessment period of the year of transfer and any appeal; ten years is a safe rule.

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Last reviewed 6 September 2026 by Reviewing registered valuer (to be named). Regulatory references are to the Income-tax Act 2025 and Income-tax Rules 2026 (in force from 1 April 2026) with the former 1961-Act section numbers in brackets. This is general information, not tax or legal advice.