Schedule 80-IB – Deductions under Section 80-IB AY 2026-27

Schedule 80-IB – Deductions under Section 80-IB AY 2026-27

‘Schedule 80-IB’ in the Income Tax Return (ITR) form is intended for assessees claiming deductions under Section 80-IB. Section 80-IB provides deductions of up to 100% on profits derived from specified businesses, with the duration of the deduction depending on the nature and category of the eligible business activity.

The schedule requires details corresponding to Form 10CCB , where the undertaking must report the amount of deduction claimed under Section 80-IB.

Section 80-IB of Income-tax Act, 1961

Section 80-IB allows a deduction to an assessee deriving profits and gains from specified businesses. These specified businesses include industrial undertakings in backwards areas, Undertakings engaged in the production or refining of mineral oil, Housing projects, and the Processing, Preservation, and Packaging of specified food products.

This schedule applies to ITR-3, ITR-5, and ITR-6.