https://www.taxtmi.com/news?id=72206 Form No. 183 is the prescribed audit report under Rule 291 read with Section 49 of the Income-tax Act, 2025 for an assessee engaged in the business of prospecting, extracting, or producing petroleum, natural gas, or both in India. It is mandatory where the deduction is claimed and must be certified by an Accountant. The form requires supporting books, financial statements, evidence of deposits and withdrawals from the specified account, and a computation showing that the deduction remains within the permissible limit. en-us Sat, 04 Apr 2026 11:14:21 +0530 Sat, 04 Apr 2026 11:14:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=72206 Form No. 183 is the prescribed audit report under Rule 291 read with Section 49 of the Income-tax Act, 2025 for an assessee engaged in the business of prospecting, extracting, or producing petroleum, natural gas, or both in India. It is mandatory where the deduction is claimed and must be certified by an Accountant. The form requires supporting books, financial statements, evidence of deposits and withdrawals from the specified account, and a computation showing that the deduction remains within the permissible limit. News - Sat, 04 Apr 2026 11:14:21 +0530 https://www.taxtmi.com/news?id=72206