Forms 66 and 67 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Form 66 is the accountant's report for the computation of book profit of a company for section 206(1) of the Income-tax Act, 2025. Form 67 is the report for the computation of adjusted total income and alternate minimum tax for section 206(2), for persons other than a company. This article describes both as printed, as per the Income-tax Rules, 2026 (G.S.R. 198(E), notified on 20 March 2026), read with the amending notifications issued up to 22 September 2026. Later notifications should be checked.
Rule 137 puts the book profit report of a company, required under section 206(1)(s), in Form 66; rule 138 puts the report required under section 206(2)(j) in Form 67. Form 66 runs from the company's details to a book profit worked from the profit and loss statement through additions, deductions, a transition amount and a tax payable row. Form 67 works from total income to adjusted total income, selects the type of assessee, and states the alternate minimum tax. Each ends in an accountant's certificate. The forms print no rate of tax.
The rules and the section
Rule 137 says the report of an accountant as defined under section 515(3)(b), required to be furnished by the assessee under section 206(1)(s), shall be made in Form 66. Rule 138 says the report of an accountant required under section 206(2)(j) shall be made in Form 67. Both rules are explained in rules 137 and 138 on book profit and adjusted total income reports. Section 206 is explained in section 206 on minimum alternate tax and alternate minimum tax. If you are preparing a company's book profit computation, our tax planning advisory team can help review the adjustments before the accountant reports.
Form 66 is described as corrected by the corrigendum G.S.R. 286(E), which fixes the numbering of rows 7, 8 and 9 in Part B.
Form 66: Report for computation of book profit for section 206(1)
Part A: Basic Information. Row 1, details of the company: name (Note 1), address (Note 2), Permanent Account Number, contact number with country code, email ID.
Part B (rows 2 to 15):
| Row | What is asked |
|---|---|
| 2 to 4 | Tax year; total income of the company for the relevant tax year; income-tax payable on it |
| 5 | Financial year adopted under the Companies Act, 2013 |
| 6 | Statement of profit and loss: (i) whether prepared in accordance with Schedule III to the Companies Act, 2013 (Yes/No); (ii) profit according to the statement |
| 7 | Whether the financial year in row 5 is the same as the relevant tax year (Yes/No) |
| 8 | If row 7 is Yes, whether the statement followed the same accounting policies, accounting standards and depreciation method or rates as the accounts laid before the company at its annual general meeting (Yes/No) |
| 9 | If row 8 is No, the extent and nature of variation (attach working where required) |
| 10 and 11 | The same question and the variation, where the financial year is not the same as the tax year, for the respective parts of the financial year |
| 12 | Profit according to the statement of profit and loss, as adjusted for the variations in rows 9 or 11 |
| 13 | ADD: amounts under section 206(1)(c)(i) to (x), each in its own line, and their aggregate |
| 14 | LESS: amounts under section 206(1)(c)(xi) to (xvi), and their aggregate |
| 15 | Adjust (add or less, as specified) amounts under section 206(1)(d)(i) to (ix): most items have an add line and a less line, clauses (vi) to (viii) are less lines, and clause (ix) uses the five rows of its Table for the add and the less amounts |
The Companies Act, 2013 is a separate law; check its text. Section 206(1)(c) and (d) are cited by clause number only; the clauses are explained in our article on section 206.
Part C: Transition amount. Row 16 computes the transition amount defined in section 206(1)(t)(vi): (i) the amount or aggregate of amounts adjusted in other equity (including capital reserve and securities premium reserve); (ii) further adjustments, increasing or decreasing, under nine heads (a) to (i), among them capital reserve, securities premium reserve, other comprehensive income to be reclassified to profit or loss, revaluation surplus, fair value as deemed cost, cumulative translation differences and any other adjustment; (iii) the total transition amount; and (iv) one-fifth of the transition amount. Row 17 gives details of adjustment for the transition amount: the convergence date as defined in section 206(1)(t)(ii), the year of convergence under (t)(ix), the total, the amount adjusted till the immediately preceding year, the amount adjusted this year, and the amount to be adjusted in later years.
Part D. Row 18, book profit as computed under section 206(1) (row 12 adjusted by rows 13, 14 and 15). Row 19, type of assessee company (select one): a unit, being a company located in an International Financial Services Centre, that derives its income solely in convertible foreign exchange; or any other company. Row 20, tax payable on book profit under section 206(1) at the applicable rate for the type in row 19. The form does not print the rate.
Certificate. The accountant examines the accounts and records of the named assessee to arrive at the book profit for the year ended 31st March; certifies that the book profit has been computed in accordance with the section and states the tax payable under section 206(1) for the tax year; and gives an opinion that, as far as he knows, and according to the explanations given, the particulars are true and correct. The block carries date, place, signature, name, designation, membership number, UDIN if any, firm name and firm registration number.
Notes. (1) and (2) name and address in full; (3) the report is given by a chartered accountant within the Chartered Accountants Act, 1949 who holds a valid certificate of practice under section 6(1) of that Act and is not a person referred to in section 515(3)(b)(i) or (ii) (rule 137 refers to an accountant as defined in section 515(3)(b), so read the form's Note with the rule); (4) reasons for negative or qualified answers; (5) amounts in rupees.
Form 67: Report for computation of adjusted total income and alternate minimum tax for section 206(2)
| Part and row | What is asked |
|---|---|
| Part A, rows 1 and 2 | Details of the assessee (name, address, Permanent Account Number, contact number, email ID, nature of business) and tax year |
| Part B, row 3 | Total income computed under the Act before giving effect to section 206(2)(a) |
| 4 | Income-tax payable on that total income |
| 5 | Deductions claimed under sections in Chapter VIII-C (other than section 149), by section and amount, with a total |
| 6 | Deduction claimed under section 46, as reduced by depreciation allowable under section 33 as if no section 46 deduction had been allowed on those assets |
| 7 | Adjusted total income (rows 3 + 5 + 6) |
| 8 | Type of assessee (select one): a unit, being a person other than a company, in an International Financial Services Centre deriving income solely in convertible foreign exchange; a co-operative society; any other person (not being a company) |
| 9 | Alternate minimum tax at the applicable rate in section 206(2)(b)(ii) for the type in row 8 |
The certificate follows the same pattern as in Form 66: the accountant examined the accounts, certifies the adjusted total income and the alternate minimum tax have been computed in accordance with the section, states the tax payable under section 206(2), and gives the same opinion. Notes: (1) and (2) name and address; (3) the certificate is given by a chartered accountant within the Chartered Accountants Act, 1949, or a person entitled under the Companies Act, 1956 to act as an auditor of companies in the State (the Companies Act, 1956 is quoted as printed; check that law); (4) reasons for negative answers; (5) amounts in rupees.
Example. Redcliff Textiles Private Limited (invented) engages a chartered accountant. In Form 66 the accountant records the profit per the statement, any variations, the section 206(1)(c) and (d) adjustments, the transition amount if any, the book profit and the tax payable, and signs the certificate. A co-operative society (invented) uses Form 67 and selects "a co-operative society" at row 8.
Need help with book profit or AMT reporting?
These forms bring together the statutory accounts, the section 206 adjustments and the tax computation. Our tax planning advisory team can help review the working and the adjustments before the accountant signs.
Key takeaways
- Rule 137 prescribes Form 66 (company book profit, section 206(1)(s)); rule 138 prescribes Form 67 (adjusted total income and alternate minimum tax, section 206(2)(j)).
- Form 66 moves from the profit and loss statement through additions, deductions and the transition amount to book profit and the tax payable.
- Form 67 moves from total income through Chapter VIII-C deductions and the section 46 adjustment to adjusted total income.
- Both forms print no tax rate; the applicable rate is chosen by assessee type.
- Each ends with an accountant's certificate.
Read next
- Rules 137 and 138: book profit and adjusted total income reports
- Section 206: MAT and AMT
- Form 44: foreign tax credit statement
- Form 26 Schedules, second half
Disclaimer: Based on the Income-tax Rules, 2026 (G.S.R. 198(E), notified on 20 March 2026), read with the amending notifications issued up to 22 September 2026, as consulted on 2 October 2026. It explains the words of the rules and forms only; later notifications, the forms and utilities on the e-filing portal, circulars and the way the tax authorities apply these provisions should be checked. This article is general information, not legal advice; check the official text before acting.