Form 176 Income Tax Rules 2026 pdf download and Key points
FORM NO. 176
[See rule 282(1)]
Certificate of accountant in respect of compliance to the provisions of Schedule V [Table: Sl. No. 7] by the notified Pension Fund
1. Purpose of the Form
It is a certificate issued by a Chartered Accountant (you) to verify that the notified Pension Fund or Sovereign Wealth Fund has complied with the conditions for exemption under Schedule V of the Income Tax Act, 2025 during the relevant financial year.
2. Core Verification Areas
When you certify Form 176, you are confirming several critical data points:
Source of Investment: Whether the fund has used its own capital or borrowed funds. (Exemption is generally restricted if investments are made using borrowed money).
Segmented Accounts: Verification that the fund maintains a separate segmented account for Indian investments and the income derived from them.
Control & Management: Confirming that the fund has not participated in the day-to-day operations of the Indian investee.
Asset Distribution: Verification that no part of the fund’s earnings has been distributed to private individuals or for any purpose other than provided for in its constitution.
3. Required Information (Quarterly & Yearly)
The form requires a breakdown of:
Total investments made in India during the year.
Details of specific investees (Name, PAN, and amount).
Whether the fund is liable to tax in its foreign country of residence and if an exemption has been granted there.
Details of the notification under which the fund was initially approved.
4. The Accountant’s Certification
The CA must explicitly declare:
“I have examined the relevant accounts, documents, and records of the Fund… and I certify that the Fund has complied with the conditions of the notification and Rule 282(1).”
5. Due Date and Filing
Frequency: Annually.
Timeline: It must be filed along with (or before) the Income Tax Return (ITR) for the relevant tax year to ensure the exemption is not disallowed during assessment.
Submission: Digitally filed through the CA’s professional login on the e-filing portal, which is then accepted/linked by the taxpayer (the Fund).
Comparison for Your Practice
Since you previously used the 1961 Act, here is the mapping to the 2026 Rules:
| Compliance Step | Old Form (1961 Act) | New Form (2026 Rules) |
| Initial Application (Pension Fund) | Form 10BBA | Form 174 |
| Initial Application (SWF) | Form 10BC | Form 175 |
| Annual Audit/Certification | Form 10BBB | Form 176 |