Rules 2026s.144

Rule 67 of the Income-tax Rules, 2026

Rule 67 — Form of particulars to be furnished along with return of income for claiming deduction under section 144. Made under s.144 of the Income-tax Act, 2025.

Where this rule sits

Rule 67 gives effect to Section 144 of the Income-tax Act, 2025. A rule cannot go beyond the section it serves: where the two seem to differ, the section governs.

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What this rule does

The rule prescribes one form. The particulars an assessee is required to furnish along with the return of income about the amount credited to a Special Economic Zone Reinvestment Allowance Reserve Account, and about the utilisation of that amount, shall be in Form No. 33.

Why it is there

The deduction under section 144 depends on an amount being credited to a Special Economic Zone Reinvestment Allowance Reserve Account and on what is done with it afterwards. The section requires the particulars to accompany the return but leaves their shape to the rules; this rule fixes it as Form No. 33, so that both the credit and the utilisation are reported in a single settled format.

Who it applies to

An assessee claiming the deduction under section 144 who credits an amount to a Special Economic Zone Reinvestment Allowance Reserve Account

The forms it prescribes

Form No. 33 — particulars of the amount credited to a Special Economic Zone Reinvestment Allowance Reserve Account and of its utilisation

What this means in practice

Form No. 33 goes along with the return, not separately and not later, so the claim and its supporting particulars travel together. It covers two things and not one: the amount credited to the reserve and the utilisation of that amount, which means the form remains relevant in the years after the credit while the reserve is being applied. The rule prescribes only the form; whether the deduction is due, and what utilisation is permissible, is settled by section 144 and not here.

An example

Illustrative only, and invented for this page. The figures are chosen to show the requirement biting, not taken from any real matter.

A company running a Special Economic Zone unit credits Rs. 2 crore to the Special Economic Zone Reinvestment Allowance Reserve Account for a tax year and claims the deduction under section 144. It furnishes Form No. 33 with that year's return showing the credit, and in a later year, when part of the reserve is utilised, the particulars of that utilisation are furnished in Form No. 33 with the return for that year.

Where you meet this rule

A reader meets it as an attachment to the return of income in any year in which the section 144 deduction is claimed or the reserve is utilised.

The words themselves

the amount credited to a Special Economic Zone Reinvestment Allowance Reserve Account and utilisation of the said amount shall be in Form No. 33

Rule 67, Income-tax Rules, 2026.

What people get wrong

Furnishing Form No. 33 separately from the return. The rule requires the particulars along with the return of income.
Filing it only in the year of credit. The rule covers the utilisation of the amount as well as the credit.
Expecting the rule to state the conditions of the deduction. It prescribes the form only; section 144 governs entitlement and utilisation.

What this page does not tell you. It does not reproduce the rule. Everything above was written from the rule’s own text as the Income Tax Department publishes it — the text is here. A rule is subordinate legislation: it prescribes the method, the form or the period, and it cannot enlarge the charge the section imposes. Where a figure matters, read the sub-rule it comes from.