Form 67 Income Tax Rules 2026 pdf download and Key points

Last Updated on: April 23, 2026

Form 67 Income Tax Rules 2026 pdf download and Key points

FORM NO. 67
[See rule 138]
Report for computation of adjusted total income and alternate minimum tax for the purposes of section 206(2) of the Act

Under the Income-tax Rules, 2026, Form No. 67 replaces the erstwhile Form 29C. It is governed by Section 206(2) of the Income-tax Act, 2025 (which replaces the old Alternate Minimum Tax sections like 115JC and 115JD) and is prescribed under Rule 138 of the Income-tax Rules, 2026.

Here are all the comprehensive key points regarding Form No. 67:

1. Purpose of the Form Form 67 is a statutory report that must be obtained from a Chartered Accountant (CA). It certifies the computation of a non-corporate taxpayer’s “Adjusted Total Income” (ATI) and the corresponding Alternate Minimum Tax (AMT) liability, ensuring calculations comply with the Act.

2. Applicability (Who Should File)

Mandatory Filers: The form applies to every person other than a company whose tax payable on their regular total income is strictly lower than their calculated Alternate Minimum Tax.
Target Rates: The AMT is calculated at 18.5% of the Adjusted Total Income for regular taxpayers, 15% for co-operative societies, and 9% for IFSC units deriving income solely in convertible foreign exchange.
Exemptions:
- Taxpayers who have opted for the New Tax Regime (under sections 202, 203, and 204 of the IT Act, 2025) are entirely exempt from AMT and do not need to file this form.
- Individuals, Hindu Undivided Families (HUFs), Associations of Persons (AOPs), Bodies of Individuals (BOIs), and Artificial Juridical Persons whose adjusted total income does not exceed ₹20 lakhs are also exempt.

3. Frequency and Due Date

Frequency: The form is filed annually.
Due Date: It must be filed electronically along with or before the due date of furnishing the return of income under Section 63 of the Act.

4. The Role of the Chartered Accountant

No DIY Filing: Taxpayers cannot completely generate or file this form themselves. Section 206 legally mandates that an “Accountant” (CA) must compute and certify that the Adjusted Total Income and AMT are correct.
Process Flow: The CA prepares the report using the e-filing portal utility, digitally signs it using their DSC (Digital Signature Certificate), and the assessee must subsequently log in to submit/accept the report before filing their ITR. Once accepted, the acknowledgment number is auto-linked with the ITR.

5. Structure of the Form The form is structurally divided into two main parts:

Part A (Personal Information): A standardized block capturing the assessee’s Name, Address, PAN, Aadhaar-linked Contact Number, Nature of Business, and the relevant Tax Year.
Part B (Computation of Alternate Minimum Tax): Captures the core financial calculations, explicitly requesting:
- Total income before giving effect to AMT provisions.
- Income-tax payable on the total income.
- Specific itemized additions/deductions claimed under Chapter VIII-C.
- A specific new adjustment: Deductions claimed under Section 46 as reduced by depreciation allowable under Section 33.
- The final Adjusted Total Income and computed AMT based on the specific type of non-corporate assessee selected.

6. Mandatory Documents Required To successfully file Form 67, the CA and taxpayer must rely on:

PAN and registration details of the Assessee.
Standard CA credentials including UDIN and DSC.
Financial Statements (Profit & Loss account and Balance Sheet).
Tax audit report (if applicable) and proof of deductions claimed.

7. Consequences of Default If a taxpayer is liable for AMT but files their ITR without the CA-certified Form 67, the return will be considered “defective”. The Central Processing Centre (CPC) will process the return without giving the benefit of AMT credits, leading to a proposed adjustment or a demand notice for higher tax.

8. Key Updates in the 2026 Rules

Explicit Formulas & Dropdowns: Unlike the old form, the new Form 67 explicitly details the arithmetic expression for calculating the Adjusted Total Income and includes specific dropdown menus for each deduction under Chapter VIII-C.
Automated Rate Selection: The form incorporates a static AMT rate table that allows for automated rate selection based on the category of the taxpayer (e.g., IFSC unit vs. Co-operative society vs. Others).
Standardization: It utilizes uniform terminology like “Tax Year” and standardizes currency representations exclusively using the “₹” symbol.

1. What is Form No. 67 ?
Ans: Form 67 is prescribed for furnishing details related to Computation of Adjusted Total Income and Alternate Minimum Tax (AMT) as per provisions of Section 206(2) of Income Tax Act, 2025
2. What is ” Adjusted Total Income “?
Ans: It is the taxable income of a non-company taxpayer adjusted (increased or decreased) by specific items mentioned in Section 206(2).
3. What is Alternate Minimum Tax (AMT)
Ans: Alternate Minimum Tax (AMT) is the Tax to be paid on Adjusted Total Income Computed as per Provisions of Section 206 (2) and at the rates mentioned therein.
4. Who should file Form 67?
Ans : It is to be filed by a person, other than a company with the exceptions as per Section 206(2)(d). Also, it is not to be filed by an individual or a Hindu undivided family or an association of persons or a body of individuals, whether incorporated or not, or an artificial juridical person referred to in section 2(77)(g) of the I.T. Act, 2025, if the adjusted total income of such person does not exceed twenty lakh rupees.
5. Is Form 67 mandatory?
Ans: It is mandatory for all taxpayers other than the company with the exception mentioned above and where “normal” tax payable by a person other than company, is lower than the calculated “Alternate Minimum Tax.
6. What are exempted entities from AMT?
Ans: The exemption clauses are defined in Section 206 e.g. If the taxpayer has opted for the New-Tax Regime, it is exempted from AMT. Similarly, Individual / HUF / AoP / BoI / AJP, are exempted from AMT if the adjusted total income does not exceed twenty lakh rupees.
7. What is the time limit for filing Form 67?
Ans : It must be filed along with the return of income
8. Do I have to calculate AMT, even if the net income is loss?
Ans: Yes.
9. If my income tax as per regular provisions is more than the AMT, do I have to pay AMT?
Ans: No, the taxpayer has to pay the higher of the two.
10. Can I file Form 67 myself (DIY)?
Ans: Technically, you can log in and upload it, but the form requires a certificate from a Chartered Accountant (CA). You cannot generate this certificate yourself.
11. Why do I need a CA?
Ans: Section 206 mandates that an “Accountant” (CA) must certify that the computation of Book Profit or Adjusted Total Income is correct.
12. What happens if I file my ITR but forget Form 67?
Ans: Your return will be considered “defective” or the tax officer will process it without giving you the benefit of AMT credits.
13. Is the form filed online or offline?
Ans: It is filed electronically on the Income Tax Portal.
14. Is there a fee for filing Form 67?
Ans: There is no government fee for the form itself, but your CA will charge a professional fee for certification.
15. How is AMT calculated under Section 206?
Ans: The Form 67 has been aligned with the provisions of the Sub-section 2 of the Section 206. Taxpayer needs to fill the respective fields and the AMT will be calculated.
16. Does Section 206 allow for depreciation adjustment?
Ans: Yes, depreciation is one of the main adjustments. The amount of depreciation is adjusted to reach Adjusted Total Income.
17. Does Section 206 consider Ind-AS (Indian Accounting Standards)?
Ans: Yes, Section 206 has specific subsections dealing with “Transition Amounts” for companies following Ind-AS to ensure fair calculation.
18. What happens if the information in Form 67 is wrong?
Ans: You may receive a notice for “Defective Return” or a demand notice under Section 270(1) of the I.T. Act, 2025 (S. 143(1) of the I.T. Act, 1961) asking for higher tax. You will have to revise the form.
19. Can I revise Form 67?
Ans: Yes, if you discover an error, your CA can file a revised form, and you must then file a Revised ITR.
20. What is the penalty for not obtaining the CA report?
Ans: The return will be defective.
21. Does Section 206 apply if I opt for the “New Tax Regime” as per S. 202 , S. 203 and S. 204 of the I.T. Act, 2025 (S. 115BAC, S. 115BAD, 115BAE of the I.T. Act, 1961)?
Ans: No, it is exempted.
22. Can I appeal against a Section 206 addition?
Ans: Yes, if the tax officer calculates your Adjusted Total Income incorrectly during scrutiny, you can file an appeal before the Commissioner (Appeals).

Form 67 Income Tax Rules 2026 pdf download and Key points

Form 67 Income Tax Rules 2026 pdf download and Key points

Form 67 Income Tax Rules 2026 pdf download

Form No.67– Frequently Asked Questions

Guidance Note on Form 67