Quick answer
What is Form 29B and which companies need it?
Form 29B is the chartered accountant's report on book profit under section 115JB. Companies liable to minimum alternate tax must furnish it before the return. The official user manual says Form 29B should be filed one month before the return due date, which for most audited companies in AY 2026-27 means 21 October 2026.
- Needed by companies paying MAT under section 115JB
- Signed and uploaded by a practising CA
- Companies that opted for section 115BAA are outside MAT
- Becomes Form 66 from tax year 2026-27
What is Form 29B under section 115JB?
Form 29B is the accountant's report that certifies the book profit of a company and the MAT computed on it. MAT makes sure a company with large accounting profits pays a minimum tax even when deductions and exemptions bring its normal taxable income down.
Book profit starts from the net profit in the statement of profit and loss prepared under the Companies Act, then adds back and deducts the specific items listed in section 115JB. The CA checks each adjustment and reports the result. If MAT on book profit exceeds tax under the normal provisions, the company pays MAT.
The official Form 29B user manual describes it as a report certifying that book profit has been computed under the Act, filed by the CA after the company assigns the form.
Who needs a MAT certificate in Form 29B?
Every company that is liable to MAT for the year needs a MAT certificate in Form 29B. In practice, that means companies on the old tax regime whose tax on book profit is higher than tax on normal income. Companies that opted for the concessional section 115BAA regime are outside MAT.
| Company type | Form 29B? |
|---|---|
| Domestic company on the old regime paying MAT | Yes |
| Domestic company on the old regime where normal tax exceeds MAT | Practice varies; many CAs still certify the MAT computation, so ask your auditor |
| Domestic company that opted for section 115BAA | No, MAT does not apply (section 115JB(5A), reported) |
| New manufacturing company under section 115BAB | No, outside MAT (reported) |
| LLP or firm | Not Form 29B; alternate minimum tax rules use a different report |
| Certain foreign companies with no permanent establishment in India | Often excluded; check with your CA |
Exclusions as reported by TaxBuddy and ClearTax (secondary), checked October 2026.
Need help with form 29B MAT report? Talk to a chartered accountant in Delhi today. First call is free.
What is the Form 29B due date for AY 2026-27?
Form 29B is due one month before the return due date under section 139(1). For AY 2026-27, CBDT Circular 07/2026 moved the return date for audited companies to 21 November 2026, so the report date falls on 21 October 2026. Companies in transfer pricing cases follow 31 October 2026.
| Company | Return due date | Form 29B due date |
|---|---|---|
| Audited company, no transfer pricing report | 21 November 2026 (extended) | 21 October 2026 |
| Company that must file a transfer pricing report | 30 November 2026 (reported) | 31 October 2026 (reported) |
Rule from the Form 29B user manual; dates from CBDT Circular 07/2026. The link between the circular and Form 29B is our reading of the specified date; confirm on the portal.
What changes for MAT and Form 29B from tax year 2026-27?
From tax year 2026-27, MAT moves to section 206 of the Income-tax Act 2025 and Form 29B is replaced by Form 66, which the department describes as the form for computation of book profit and MAT under section 206(1). FY 2025-26 still uses Form 29B.
The Finance Act 2026 is also reported to have cut the MAT rate to 14% and to have made MAT a final tax, with no fresh MAT credit from 1 April 2026 and limits on using credit brought forward. These points come from secondary commentary, so confirm them with your CA before planning around them.
| Point | FY 2025-26 (AY 2026-27) | Tax year 2026-27 onwards |
|---|---|---|
| Law | Income-tax Act 1961 | Income-tax Act 2025 |
| MAT section | Section 115JB | Section 206 |
| Report | Form 29B | Form 66 (Rule 137, reported) |
| Rate | 15% of book profit plus surcharge and cess (reported) | 14% (Finance Act 2026, reported) |
| MAT credit | Allowed under the old rules | No fresh credit; old credit restricted (reported) |
Section and form mapping from Income Tax Department FAQs; rates and credit changes from secondary commentary, checked October 2026.
What is a book profit certificate and what goes into it?
A book profit certificate is another name for the Form 29B report. It shows net profit as per the audited statement of profit and loss, each addition and deduction allowed by section 115JB, the resulting book profit and the MAT payable. The CA ties every figure to the audited accounts.
- Net profit as per the audited profit and loss statement.
- Add-backs such as income tax, certain provisions and reserves, and items the section lists.
- Deductions such as amounts withdrawn from reserves credited to profit, and lower of brought forward loss or unabsorbed depreciation where allowed.
- Ind AS adjustments for companies that follow Indian Accounting Standards.
- Book profit, MAT at the applicable rate, and tax credit details.
What documents does the CA need for Form 29B?
The CA needs the audited financial statements, the statutory auditor's report, the tax computation under normal provisions, a schedule of every book profit adjustment, and details of brought forward losses, depreciation and MAT credit. Keep last year's Form 29B handy for consistency.
| Document | Why it is needed |
|---|---|
| Audited balance sheet and statement of profit and loss | Starting point for book profit |
| Statutory auditor's report and notes to accounts | Confirms the profit figure and accounting policies |
| Schedule of provisions and reserves movement | Add-backs and deductions |
| Brought forward loss and unabsorbed depreciation as per books | Allowed deduction |
| Ind AS transition and OCI items (if applicable) | Special adjustments |
| Normal tax computation and tax audit report | Comparison of MAT with normal tax |
| MAT credit working of earlier years | Credit available and used |
| Previous year's Form 29B | Consistency check |
How is Form 29B filed online: step by step
The company assigns Form 29B to its chartered accountant on the e-filing portal, the CA accepts the request, fills and uploads the report with a registered digital signature, and the company accepts it. The official manual lists the same three stages.
- 1
Close the audited accounts
Book profit depends on final audited figures, so finish the statutory audit first. The statutory auditor signs off first.
- 2
Assign the CA
Log in to the e-filing portal, open Form 29B and assign it to the CA through the My CA service. A transaction ID is generated.
- 3
CA accepts and prepares
The CA accepts the request from the worklist, fills in the computation and attaches supporting papers.
- 4
CA uploads with DSC
The CA uploads with a valid digital signature registered on the portal and records a UDIN.
- 5
Company accepts
The company reviews the uploaded form and accepts it with its digital signature. An acknowledgement is issued.
- 6
File the ITR-6
File the company return, reporting the same book profit and MAT figures, by the due date.
What is the penalty for not filing Form 29B?
Not getting or furnishing the Form 29B report can attract a penalty under section 271BA of the 1961 Act, which practitioners describe as up to ₹1 lakh. Relief is possible if the company shows reasonable cause under section 273B. A missing report can also make the return defective.
Late MAT also brings interest on short payment of advance tax. Companies paying MAT should plan advance tax on book profit through the year; our advance tax due dates guide lists the instalments. If you have already received a notice about the report, read our income tax notice reply page.
Can CA in Delhi file my Form 29B?
No. Form 29B is certification work reserved for practising chartered accountants, and ICAI's Code of Ethics 2026 bars CA firms from taking reserved work through aggregators. We provide information only, with no fees or bookings for this report.
Usually the company's statutory auditor or tax auditor issues it, because they already know the accounts. Verify any CA on ICAI CA Connect and ask for a UDIN, as explained in our CA certificate guide. Our directory of chartered accountant firms in Delhi lists firms for non-reserved work such as bookkeeping and ROC filings. Companies in Rajouri Garden, Janakpuri and nearby areas can see our CA in West Delhi page.
Frequently asked questions
What is the due date of Form 29B for AY 2026-27?
For audited companies whose return date was extended to 21 November 2026, the report date is 21 October 2026. Companies in transfer pricing cases follow 31 October 2026, as reported. Check the portal for any later CBDT order.
Is Form 29B required for a company under section 115BAA?
No. A company that opted for section 115BAA is outside MAT under section 115JB(5A), so it does not need a Form 29B report. Make sure the 115BAA option was validly exercised in the return of the first year.
What is the new form for Form 29B under the 2025 Act?
Form 66, for computation of book profit and MAT under section 206(1) of the Income-tax Act 2025, from tax year 2026-27. FY 2025-26 is still reported in Form 29B.
Who can sign Form 29B?
A chartered accountant in practice, using a digital signature registered on the e-filing portal. The company cannot file it on its own; it can only assign and then accept the CA's upload.
Is a MAT certificate the same as Form 29B?
Yes. A MAT certificate, book profit certificate and Form 29B report all refer to the same CA report under section 115JB for the 1961 Act years.
Can Form 29B be revised after filing?
Several guides say a filed Form 29B cannot be revised in the normal way. If you find an error, speak to your CA quickly so the return and any further filing are aligned.
Do loss-making companies need Form 29B?
A company with an accounting loss usually has no book profit, so no MAT arises. Some CAs still prepare a working for the file. Whether a report is needed depends on the computation, so confirm with your auditor.
Is MAT still 15% for FY 2025-26?
For FY 2025-26 under the 1961 Act, MAT is reported at 15% of book profit plus surcharge and cess. Commentary on the Finance Act 2026 says the rate drops to 14% from tax year 2026-27.