https://www.taxtmi.com/acts?id=53407 Procedure for exercising the safe harbour option in income attribution for business and profession requires the assessee to furnish Form No. 49, duly completed, to the Assessing Officer before furnishing the return of income for the relevant tax year. The Assessing Officer may declare the option invalid by written order if incorrect facts are furnished or business-related facts are concealed, after affording a reasonable opportunity of being heard. Form No. 49 must be furnished electronically and verified by the authorised person. en-us Fri, 20 Mar 2026 18:02:08 +0530 Tue, 07 Apr 2026 10:36:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53407 Procedure for exercising the safe harbour option in income attribution for business and profession requires the assessee to furnish Form No. 49, duly completed, to the Assessing Officer before furnishing the return of income for the relevant tax year. The Assessing Officer may declare the option invalid by written order if incorrect facts are furnished or business-related facts are concealed, after affording a reasonable opportunity of being heard. Form No. 49 must be furnished electronically and verified by the authorised person. Act-Rules Income Tax Fri, 20 Mar 2026 18:02:08 +0530 https://www.taxtmi.com/acts?id=53407