Quick Summary
The transition to the new Income-tax Act, 2025 continues to reshape Indias tax compliance framework, and one of the latest developments is the introduction of Form 81 under the Income-tax Rules, 2026. The new form replaces the earlier Form 66 prescribed under the Income-tax Rules, 1962 for companies operating under the Tonnage Tax Scheme. Form 81 serves as an audit and certification report to be furnished by an accountant regarding the maintenance of books of account and computation of income f
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
Form 81 is an accountant-certified report for companies under the Tonnage Tax Scheme, verifying the correctness of their books of account and tonnage income computation for the tax year.
Companies engaged in operating qualifying ships that have opted for the Tonnage Tax Scheme must furnish Form 81.
Form 81 requires company particulars (Part A) and details on books of account and income computation for tonnage taxation (Part B), including charter-in limits, shipping income, and Tonnage Tax Reserve Account details.
Yes, a mandatory requirement highlighted in the FAQs is the maintenance of separate books of account specifically for the tonnage tax business.
Under Section 232(15), the tonnage of chartered-in ships must not exceed 49% of the total tonnage. The reporting accountant must certify compliance with this.
Form 81 aims to ensure independent verification of tonnage tax computation, compliance with statutory conditions, and greater audit reliability and reporting integrity under the Tonnage Tax Scheme.
CAclubindia
