Form No. 182 – Frequently Asked Questions (FAQs)

Audit report under Section 48 read with paragraph 2 of Schedule IX of the Income-tax Act, 2025.

1. What is Form No. 182?

Ans:- Form No. 182 is a prescribed audit report required to be furnished under Rule 290 and Section 48 read with paragraph 2 of Schedule IX of the Income-tax Act, 2025. It is used for certifying the deduction claimed by an assessee engaged in the business of growing and manufacturing tea, coffee, or rubber in India.

2. Who should file this Form?

Ans:- This Form is required to be furnished by an assessee engaged in the business of growing and manufacturing tea, coffee, or rubber in India, who claims deduction under Section 48 of the Income-tax Act, 2025. The form is to be certified by an Accountant as defined in Section 515(3)(b).

3. Is filing of Form No. 182 compulsory?

Ans:- Yes. Furnishing of Form No. 182 is mandatory where an assessee claims deduction under Section 48. Without furnishing this audit report, the deduction is liable to be disallowed.

4. What is the due date for furnishing Form No. 182?

Ans:- Form No. 182 is required to be furnished annually, one month prior to the due date of furnishing the return of income under Section 263(1) of the Income-tax Act, 2025.

5. What are the documents / information required to prepare Form No. 182?

Ans:- The Chartered Accountant will require:

- Books of account of the business

- Audit report under any other law, if applicable

- Evidence of deposits in the specified account

- Details of withdrawals and utilisation

- Details of assets acquired and transferred, if any

- Computation of deduction under Section 48

- Schedule IX compliance evidence

6. What is the effect of furnishing Form No. 182?

Ans:- The audit report enables certification that the claim for deduction under Section 48 is true and correct based on audit examination.

7. What is the structure of Form No. 182?

Ans:- Form No. 182 consists of:

- Part A: Audit report where accounts are audited under any other law

- Part B: Audit report where accounts are not audited under any other law

- Part C: Particulars of the assessee

- Part D: Statement of particulars relating to claim of deduction under Section 48

8. What is the process flow of filing Form No. 182?

Ans:- The process flow includes:

a. The assessee must first deposit the eligible amounts into a "Special Account" with NABARD or a "Deposit Account" approved by the Tea, Coffee, or Rubber Board within the timelines prescribed by the scheme.

b. The assessee must engage an "Accountant" as defined in Section 515(3)(b) of the Income-tax Act, 2025, to conduct the audit of the business accounts.

c. The Accountant examines the books of account and prepares the statement of particulars in Part D, verifying the accuracy of deposits, withdrawals, and the calculation of the permissible deduction.

d. The Accountant must log into the e-filing portal to fill out the form, ensuring that their Membership Number and Firm Registration Number are correctly entered.

e. It is mandatory for the Accountant to generate and mention a Unique Document Identification Number (UDIN) within the form to validate the audit report.

f. The Accountant must digitally sign the form using their Digital Signature Certificate (DSC) and upload it to the portal.

g. Once the form is uploaded by the Accountant, it must be electronically "Accepted" by the assessee through their own e-filing account to complete the statutory filing process.

9. Why is Form No. 182 important?

Ans:- Form No. 182 is a statutory audit report which forms the basis for allowing deduction under Section 48. It ensures verification of deemed income (by way of usage of funds not in accordance with provisions, sale of assets prematurely, etc.) and validates permissible deduction limits.