Rule 291 — Report of audit of accounts to be furnished under Schedule X read with section 49 for deduction for site restoration fund. Made under s.49 of the Income-tax Act, 2025.
Rule 291 gives effect to Section 49 of the Income-tax Act, 2025. A rule cannot go beyond the section it serves: where the two seem to differ, the section governs.
The rule prescribes the form of one report. The report of audit of the accounts of an assessee required to be furnished under paragraph 2 of Schedule X to the Act read with section 49, for the deduction for a site restoration fund, shall be in Form No. 183.
Paragraph 2 of Schedule X makes the deduction depend on an audit report but leaves the form to be prescribed. The rule supplies it, so the report supporting a site restoration fund claim comes in one fixed shape.
The rule fixes the form and nothing else; who must audit, by when the report must be furnished and what the deduction requires are in Schedule X and section 49. A claim supported by an audit report in some other form has not met the requirement the paragraph imposes.
You meet it as Form No. 183 accompanying the claim for the site restoration fund deduction.
The report of audit of the accounts of an assessee, which is required to be furnished under paragraph 2 of Schedule X to the Act read with section 49, shall be in Form No. 183.
