What Is Form 29B?
Form 29B is a certification form under the Income Tax Act, 1961, used for reporting the computation of Minimum Alternate Tax (MAT). It must be certified and digitally signed by a Chartered Accountant (CA) and submitted online on the income tax portal.
Form 29B is applicable when a company’s tax payable under normal provisions is lower than MAT calculated under Section 115JB.
Who Is Required to File Form 29B?
Form 29B is mandatory for:
- Companies liable to pay Minimum Alternate Tax (MAT)
- Companies claiming MAT credit
- Companies filing income tax return where MAT provisions apply
⚠️ Individuals, partnership firms, and LLPs are not required to file Form 29B.
When Is Form 29B Required?
- When book profit tax (MAT) is higher than normal income tax
- When filing ITR-6 for companies
- When claiming MAT credit in current or future years
Due Date for Filing Form 29B
- On or before the due date of filing Income Tax Return
- Generally:
- 31st October – Companies subject to tax audit
- 30th November – Transfer pricing cases
(Due dates may change as per CBDT notifications.)
Documents Required for Form 29B Filing
- Company PAN
- Financial statements (P&L, Balance Sheet)
- MAT computation under Section 115JB
- Audit report
- ITR details
- Digital Signature Certificate (DSC) of CA
Step-by-Step Process to File Online Form 29B
Step 1: Prepare MAT Computation
- Calculate book profit as per Section 115JB
- Adjust profits with additions & deductions
- Compute MAT liability accurately
Step 2: CA Login on Income Tax Portal
- CA logs in using their credentials
- Ensure CA is registered on the portal
Step 3: Assign CA to Company (If Not Assigned)
- Company logs in → Authorised Partners
- Assign CA using membership number
Step 4: CA Downloads Form 29B
- Navigate to e-File → Income Tax Forms
- Select Form 29B
- Download utility (online/offline)
Step 5: Fill Form 29B Details
Enter:
- Company details
- MAT computation
- Book profit calculation
- Tax payable under MAT
Ensure consistency with:
- Financial statements
- Audit report
- ITR data
Step 6: Validate and Generate XML/JSON
- Validate all entries
- Generate file for upload
Step 7: Upload Form 29B
- CA uploads Form 29B on the portal
- Attach required details
Step 8: Digitally Sign the Form
- CA signs Form 29B using DSC
- Successful submission acknowledgment generated
Step 9: Link Form 29B with ITR
- Ensure Form 29B is submitted before filing ITR-6
- MAT details auto-reflect in income tax return
Common Errors to Avoid
- Incorrect book profit calculation
- Mismatch with audit report
- Late filing of Form 29B
- Invalid or expired DSC
- Filing after ITR submission
Benefits of Proper Form 29B Filing
- Accurate MAT compliance
- Smooth ITR-6 processing
- Avoid income tax notices
- Correct MAT credit carry-forward
- Strong compliance record
Why Choose Saving Mantra for Form 29B Filing?
- CA-certified MAT computation
- Error-free online filing
- DSC & portal support
- Alignment with ITR-6 filing
- Complete corporate tax compliance
Disclaimer
This blog is intended for informational and educational purposes only. Form 29B filing and MAT computation are subject to provisions of the Income Tax Act, 1961, and may change from time to time. Saving Mantra does not provide legal or tax guarantees. Readers are advised to consult a qualified Chartered Accountant before filing Form 29B.