Form 32: Audit report under sections 46, 138, 139, 140(8), 141, 142, 143 and 144
Source checked 21 October 2026 · Original author: Finin2min Editorial Desk
Purpose, person and period
Audit report under sections 46, 138, 139, 140(8), 141, 142, 143 and 144.
The accountant furnishes Form 32 for the particular deduction section selected in Part A, completing its matching B-1 to B-8 schedule; the form is not a generic certificate that grants all eight deductions.
Period gate: This numbered form belongs to the Income-tax Rules, 2026, effective 1 April 2026. The predecessor New Form is a concordance, not permission to change an earlier-year filing into a new-law form. For earlier periods, use the applicable 1961 Act form and saved procedure.
Controlling rule and source pages
Rule 66; Section 46, Section 515(3), Section 63. Physical PDF pp 382-393; printed Gazette pp 1914-1925.
Rule 66 — connected rule text
66. Furnishing of audit report for claiming de duction under section 46 or 138 or 139 or 140 or 141 or 142 or 143 or 144.– (1) For the purposes of claiming deduction under sections 46 or 138 or 139 or 140 or 141 or 142 or 143 or 144, the accounts of the eligible business for the tax year for which the deduction is claimed shall be audited by an accountant as defined in section 515(3)(b), before the specified date referred to in section 63 and the assessee shall furnish by that date the report of such audit duly signed and verified by such accountant. (2) The report of the audit of the accounts of an assessee, which is required to be furnished under sub -rule (1), shall be in Form No. 32. (3) A separate report shall be furnished by each undertaking or enterprise of the assessee claiming deduction under section 46 or 138 or 139 or 140 or 141 or 142 or 143 or 144 and shall be accompanied by the profit and loss account and balance sheet of the undertaking or enterprise as if the undertaking or the enterprise were a distinct entity. (4) The said Form No. 32 shall be accompanied by the relevant documents as given in column D wherever applicable, as per the relevant sections in column B and the relevant part as mentioned in column C shall be filled, as specified in the following table, duly certified wherever applicable: Table Sl. No Section Relevant Part of Form Relevant documents to be attached A B C D 1. 46 B1 Copy of the agreement entered into with the Central Government, State Government, or a local authority. 2. 138 B2 Copy of Form No. 10CCB of the Income-tax Rules, 1962 made under the Income-tax Act, 1961, as it existed prior to its repeal, of developer 3. 139 B3 Copy of the notification of the Special Economic Zone (SEZ). 4. 140 B4 Copy of certificate issued by the Inter -Ministerial Board of Certification. 5. 141 B5 Copy of approval certificate and completion certificate of the Housing Project, Copy of the notification of the scheme by the Board. 6. 142 B6 Copy of approval certificate and completion certificate of the Housing Project 7. 142 B6 Copy of notification issued under section 80 -IBA of the Income - tax Act, 1961, as it existed prior to its repeal in the case of a Rental Housing Project 8. 143 B7 Copy of the agreement entered into with the Central Government, State Government, or a local authority. [PDF PAGE 50] 1582 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
Completed field illustration
Fictional data, not for filing. A fictional cold-chain operator illustrates the section 46 branch of this multi-purpose audit form; all eligibility conditions are express assumptions.
| Form field / block | Completed fictional entry |
|---|---|
| Part A: assessee / PAN / address / TY | Example Cold Chain Ltd / synthetic ZZZCE0000Z / 10 Model Cold Store Road, Pune / 2026-27 |
| Row 5: section / schedule selected | Section 46 / Part B-1 only; no automatic claim under the other seven deduction sections |
| B-1 rows 6-8: incorporation / operations / business | 1 April 2020 / 1 October 2026 / Cold Chain Facility, assumed qualifying specified business |
| Rows 11-13: reconstruction / used plant | No splitting or reconstruction / no previously used plant, assumed records |
| Rows 14-17: eligible expenditure / date / mode | Rs 10,00,000 new refrigeration plant / 15 October 2026 / NEFT |
| Row 18: other business / excluded assets | No other-business use / no land, goodwill or financial instrument in this Rs 10 lakh amount |
| Row 20: model deduction | Rs 10,00,000, assuming all section 46 conditions and no separate disallowance |
| Accountant certification / signature | MODEL ONLY / NOT SIGNED; no eligibility opinion or UDIN issued |
This illustrates the named fields, not every possible schedule. Use the complete official extract for additional applicable fields, annexures and verification. “Not signed” means no professional certification or authority action has occurred.
Reconcile the example
- Eligible capital-expenditure amount 10,00,000 equals the model claim; no land or financial instrument is included.
- Only the selected section 46 branch is populated; the other schedules are not treated as alternative deductions on the same expenditure.
The form combines eight statutory deduction reports. The rate, eligibility date, expenditure exclusions, payment conditions and actual professional examination must be established for the particular selected section. This is not a complete audit report.
Prepare, furnish and retain
- Use the form identity and period above, then determine the person who prepares, issues or verifies it from Rule 66. An authority-issued order is not an applicant filing.
- Collect the records that support the actual fields in the example; keep any mandatory schedules and annexures specified in the complete source form.
- Reconcile dates, amounts, units and identifiers to the underlying records. Preserve the applicable rule version and any later correcting notification.
- Where the rule prescribes electronic furnishing, use the current official utility/schema and authorised verification. A local PDF does not produce a portal acknowledgement.
- Retain the submitted version, supporting schedules and actual acknowledgement or issued certificate/order, as applicable. This fictional model supplies none of those evidential outcomes.
Download the correct documents
Official Form 32 source extract Filled sample — fictional field illustration
The official extract preserves source pages; later amendments are supplied with affected forms. Read the April corrigendum where its printed-page corrections apply. The filled field illustration is an educational model and cannot be filed.
Primary sources
Questions readers ask
Does this sample prove approval, filing or a professional conclusion?
No. It completes the named fields using synthetic facts. It has no real signature, DSC, approval or acknowledgement.
Can I use the legacy form number for a current tax-year obligation?
Establish the governing period first. A predecessor number is a cross-reference; earlier-year procedures and current-year forms must be kept distinct.