Form 33 Income Tax Rules 2026 pdf download and Key points

Last Updated on: April 25, 2026

Form 33 Income Tax Rules 2026 pdf download and Key points

FORM NO. 33
[See rule 67]
Particulars to be furnished in respect of units established under Special Economic Zone for claiming deduction under section 144 of the Act

Under the Income-tax Rules, 2026, Form No. 33 replaces the erstwhile Form 56FF. It is governed by Section 144 of the Income-tax Act, 2025 (which replaces the old Section 10AA) and Rule 67 of the Income-tax Rules, 2026 (replacing the old Rule 16DD).

Here are all the key points regarding Form No. 33:

1. Purpose of the Form Form 33 is a statutory form used to furnish particulars regarding units established under a Special Economic Zone (SEZ) to claim tax deductions. Specifically, it is required for reporting the details of new plant and machinery purchased after withdrawing funds from the SEZ Reinvestment Allowance Reserve Account maintained by the assessee.

2. Applicability (Who Should File) The form must be filed by any assessee who is claiming a deduction on the profits and gains derived by newly established Units in SEZs under Section 144 of the Income-tax Act, 2025.

3. Background: The SEZ Reinvestment Reserve To claim certain deductions under Section 144, an assessee is required to create an SEZ Reinvestment Reserve account. Up to 50% of the unit’s export profits should be transferred into this reserve, and these funds must strictly be utilized for purchasing new plant or machinery within a period of 3 years. Form 33 is the official mechanism to report these purchases.

4. Due Date Form 33 is required to be filed along with the Return of Income. Therefore, the due date for filing this form is exactly the same as the taxpayer’s due date for furnishing their annual income tax return.

5. Structure and Details Captured in the Form The form is systematically divided into parts to capture:

Part A (Basic Information): Captures the Assessee’s Name, Address, Permanent Account Number (PAN), and the relevant Tax Year.
Part B (Undertaking and Reserve Details): Captures the Unit’s Name, Address, Nature of business, and the specific Name of the SEZ where the unit is located. It also specifically requires the details of the SEZ Reinvestment Allowance Reserve Account and the details of the plant/machinery purchased using the withdrawn funds.

6. Filing Process and Verification

Process Flow: The assessee enters their basic details, undertaking details, and reserve account details online, followed by entering the particulars of the newly purchased plant and machinery.
Verification: The form is to be formally verified by the proprietor, partner, or director of the entity. Following this, the electronic form must be e-verified using the Digital Signature Certificate (DSC) of a Chartered Accountant.

7. Outcome and Importance Filing this form is critical because the allowance of the tax deduction under Section 144 of the Income-tax Act, 2025, is strictly permitted based on the successful filing and processing of the details in Form 33.

8. Key Updates in the 2026 Rules

To streamline compliance, basic details like the Assessee’s Name, PAN, and Tax Year are now pre-filled in the system, though the assessee retains the option to edit them.
Obsolete terminology such as “Assessment year”, “Financial year”, or “Previous year” has been uniformly replaced with “Tax year”.

1. What is Form 33?
Ans. Form 33 is required to be furnished by an assessee availing deduction under Section 144 of the Income-tax Act, 2025 for new plant/machinery purchased after making withdrawal from the SEZ Reinvestment Allowance Reserve Account maintained by the assessee. The form is to be verified by the proprietor/partner/director.
2. Who should file Form 33?
Ans. An assessee claiming deduction on profits and gains derived by newly established Units in SEZs as per the provisions of Section 144 of the Income-tax Act, 2025 should file this form.
3. What is the Due Date to file Form 33?
Ans. Form 33 is required to be filed along with the Return of Income. Hence, the due date for filing return of income for the said assessee will be the due date to file this form.
4. What is SEZ reinvestment reserve and what is it used for?
Ans. SEZ Reinvestment Reserve account is to be created to claim deduction u/s 144. Upto 50% of export profits should be transferred to this reserve account, and these funds must be utilized for purchasing new plant/machinery within a period of 3 years.
5. Why is Form 33 important?
Ans. The details of new plant/machinery purchased using withdrawn funds from the SEZ Reinvestment Reserve is filed in Form 33. The deduction under Section 144 of the Incometax Act, 2025 is allowed based on details filed in the Form.

Form 33 Income Tax Rules 2026 pdf download and Key points

Form 33 Income Tax Rules 2026 pdf download and Key points

Form 33 Income Tax Rules 2026 pdf download

Form No.33– Frequently Asked Questions

Guidance Note on Form 33