Form 189 – Frequently Asked Questions

Application for approval of issue of public companies under section Schedule XV(1)(z)(i) of the Income-tax Act, 2025

Name of form as per I.T. Rules, 1962	Form 59	Name of form as per I.T. Rules, 2026	189
Corresponding section of I.T. Act, 1961	80C(2)(xix)	Corresponding section of I.T. Act, 2025	Schedule XV(1)(z)(i)
Corresponding Rule of I.T. Rules, 1962	20	Corresponding Rule of I.T. Rules, 2026	331

1. What is Form 189?

Ans. Form 189 is required to be filed by an assessee to apply for approval of issue of public companies under section Schedule XV(1)(z)(i) of the Income-tax Act, 2025. The contribution to such issue by individuals is eligible for deduction u/s 123 of the Income-tax Act, 2025.

2. Who should file Form 189?

Ans. An assessee applying for approval of issue of public companies under section Schedule XV(1)(z)(i) of the Income-tax Act, 2025 should file Form 189.

3. What is the Due Date to file Form 189?

Ans. The form should be filed by the public company along with the documents as mentioned in the application form three months before the issue of eligible capital.

4. Why is Form 189 important?

The approval for issue of eligible capital as per Schedule XV(1)(z)(i) of the Income-tax Act, 2025 is granted based on details filed in Form 189.

Public company issue approval through Form 189 governs eligible capital issues and related deduction eligibility. Form 189 is the prescribed application for approval of issue of public companies under Schedule XV(1)(z)(i) of the Income-tax Act, 2025. It is filed by the public company with supporting documents before the issue of eligible capital, and the approval is granted on the basis of the details furnished in the form. Individual contributions to the issue are stated to qualify for deduction under the Act.