Draft Income Tax Rule 27 and 28 – Forms for Statement of Preliminary Expenses (Section 44) and Audit Report for Deductions (Sections 44 & 51)

Extract of Rule No. 27 and 28 of Draft Income-tax Rules, 2026

Rule 27

Form of statement to be furnished regarding certain preliminary expenses eligible for deduction under section 44 of the Act 

(1) The statement containing particulars of expenditure required to be furnished under section 44(3) of the Act shall be in Form No. 5 for each tax year.

(2) Form No. 5 shall be furnished one month prior to the due date for furnishing the return of income as specified under section 263(1) of the Act.

(3) Form No. 5 shall be furnished to the Director General of Income-tax (Systems) or any person authorised by him.

Rule 28

Form of audit report for claiming deductions under sections 44 and 51 of the Act.

The report of audit of the accounts of an assessee, other than a company or a co-operative society, which is required to be furnished under section 44(6) or section 51(7) of the Act shall be in Form No. 6.