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Equalisation levy

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Harikrishna (Querist)
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20 March 2017 Harikrishna: Friends doubt Regarding equalisation levy The assesse need to file any form? Like ITR? Or genearating challana id fine?

CA Shubhanshu Jain

CA Shubhanshu Jain (Expert)
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21 March 2017 Yes, As per Rule 5 of Equalisation levy rules, 2016 as notified by CBDT by way of notification no. 38/2016, every assessee required to deduct and pay equalisation levy shall also required to furnish statement under Form No.1 duly verified (either by using digital signature or electronic verification code). Statement under Form No.1 shall be furnished on or before 30th June immediately following that previous year. For Eg :- for F.Y 2016-17 Last date of submitting statement under Form No. 1 is 30th June 2017.

I hope this will resolve your query

Harikrishna

Harikrishna (Querist)
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03 April 2017 thanks sir

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