CBDT Notifies Revised IT Form 29B for MAT Audit Report

CBDT Notifies Modified/ Revised IT Form 29B for MAT Audit Report thru Income Tax (22nd Amendment) Rules 2017

The CBDT has notified Income Tax (22nd Amendment) Rules 2017 for modification/ revision, with immediate effect, in Form 29B relating to MAT Audit Report u/s 115JB on Computation of Book Profits of a company and for mandating online filing of audit report under IT Section 115JC. However, the new schema and updated utility for e-Filing of the modified Form No. 29B is yet to be deployed by CBDT.

MAT Audit Report Form 29B Modified: CBDT Notification No. 80/2017 dt. 18 Aug. 2017

G.S.R. 1028(E).—In exercise of the powers conferred by sub-section (4) of section 115JB read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely;—

1. (1) These rules may be called the Income-tax ( 22nd Amendment), Rules, 2017. (2) They shall come into force from the date of their publication in the official Gazette.

2. In the Income-tax Rules, 1962, —

(A) in rule 12, in sub-rule (2), in the proviso, after the words, figures and letters “section 115JB”, the words, figures and letters “section 115JC” shall be inserted;

(B) in Appendix II, for the ‘Form No. 29B’, the following Form shall be substituted, namely:-


[See rule 40B]

Report under section 115JB of the Income-tax Act, 1961 for computing the book profits of the company

(please refer above attachment for full format with Annexure)

Note : The principal rules were published in the Gazette of India Extraordinary, part II, Section 3, Subsection (ii), vide notification number S.O. 969(E), dated the, 26th March, 1962 and last amended vide notification number GSR No 891 (E) dated the 18.07.2017.

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