Quick Summary
The Income Tax Department, under the newly implemented Income Tax Rules, 2026, has introduced FN 181, a mandatory audit report filing requirement for electoral trusts seeking tax benefits on voluntary contributions. The move is aimed at strengthening transparency, accountability, and digital compliance in the functioning of electoral trusts claiming exemption of certain income under the Income Tax Act, 2025. With many tax professionals and trust administrators seeking clarity on the new report
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FAQ :
FN 181 is a new, mandatory electronic audit report required for electoral trusts that wish to exclude voluntary contributions from their total taxable income under the Income Tax Rules, 2026.
Every electoral trust that intends to claim an exemption on voluntary contributions received must file the FN 181 report. Their books of account must be audited by a qualified accountant.
Yes, the FN 181 audit report is mandatory for electoral trusts that wish to claim voluntary contributions as income not included in their total taxable income.
The FN 181 report must be filed on or before the due date for filing the return of income, as specified under Section 263(1) of the Income Tax Act, 2025.
No, the FN 181 report can only be submitted electronically through the Income Tax Department's e-filing portal. There is no offline filing option available.
No, once the FN 181 report is submitted, it cannot be edited. All details must be carefully verified before final submission.
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