Form 80 Income Tax Rules 2026 pdf download and Key points
FORM NO. 80
[See rule 146(1)(a)]
Application for *exercising/renewing option for the tonnage tax scheme under * section 231(1) or 231(10)
Under the Income-tax Rules, 2026, Form No. 80 replaces the erstwhile Form 65. It is governed by Section 231 of the Income-tax Act, 2025, and Rule 146 of the Income-tax Rules, 2026.
Here are all the key points regarding Form No. 80:
1. Purpose of the Form Form 80 is the statutory application used by an eligible company to exercise or renew the option for taxation under the Tonnage Tax Scheme. It enables the Income-tax Department to verify whether the company satisfies the prescribed conditions to be governed by this scheme.
2. Applicability (Who Should File) The form must be filed by an Indian company that is engaged in the business of operating ships or inland vessels.
- Mandatory nature: It is strictly mandatory for any company intending to be governed by the Tonnage Tax Scheme or seeking to continue under it through renewal.
- Separate Filing: A separate Form 80 is required for the initial exercise of the option and for each subsequent renewal.
3. Due Dates for Filing
- For first-time exercise: The form must be filed within three months from the date of the company’s incorporation or from the date it becomes a qualifying company.
- For renewal: An approved option remains in force for 10 years. To renew it, Form 80 must be filed within one year from the end of the tax year in which the option ceases to have effect.
4. Structure of the Form The form is divided into specific sections based on whether it is a new application or a renewal:
- Part A (General Particulars): Captures the company’s profile and detailed information regarding its ships or inland vessels. This includes details of owned vessels, vessels chartered in (e.g., bareboat charter-cum-demise, bareboat charter for more/less than 3 years), and vessels chartered out. This part is mandatory for all applications.
- Part B (Renewal Particulars): Captures statement particulars and is only required to be filled if the form is filed for the renewal of an option.
- Declaration: Formal verification by the authorized signatory.
- Annexures: For attaching ship-wise documentary evidence (A-1 to A-3).
5. Mandatory Documents Required To successfully file Form 80, the applicant must enclose several supporting documents:
- Certificates of registration and tonnage measurement issued under the Merchant Shipping Act, 1958.
- Certificates issued under the Inland Vessels Act, 2021 (for inland vessels).
- International tonnage certificates, where applicable.
- Permissions obtained from the Director General of Shipping for chartered ships registered outside India.
- Copies of earlier approval orders (required only if applying for renewal).
6. Filing and Verification Authority
- Where to file: Form 80 must be filed with the Joint Commissioner of Income-tax who has jurisdiction over the applicant company.
- Who must sign: The form must be signed and verified by the Managing Director (or any Director if the MD is unable to sign). In special circumstances, it may be signed by the liquidator (if the company is winding up) or the principal officer (if management has been taken over by the Government).
7. Strict Compliance and Penalties
- Incomplete Forms: All applicable columns and annexures must be completely furnished; incomplete applications are liable to be treated as invalid.
- False Statements: Providing incorrect or false information in Form 80 or its annexures makes the person liable for prosecution under Section 482 of the Income-tax Act, 2025.