Filing preliminary response and form 61a

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rajendra utpat (Querist)

26 May 2017 Whether we need to file Filing preliminary response and form 61A in following cases
1. Company called XYZ Ltd for which Tax audit is not applicable but has received Cash sale of Rs.2 lacs or more per transaction?

2. Company called XYZ Ltd for which Tax audit is not applicable and does not received Cash sale of Rs.2 lacs or more per transaction

CA Shubhanshu Jain

CA Shubhanshu Jain (Expert)

26 May 2017 As per Sr. No. 11 of subrule 2 of Rule 114E only those assessees who are required to get their accounts audited under section 44AB shall require to file form 61a if receipt of cash payment exceeding two lakh rupees for sale, by any person, of goods or services of any nature.

So according to above in both cases since XYZ Ltd. is not liable to get its accounts audited under section 44AB, so even if cash receipt is more than Rs. 200000 XYZ Ltd. is also not required to file form 61a..

rajendra utpat

rajendra utpat (Querist)

26 May 2017 Thanks sir but does the Company need to gile preliminary response in bith cases

CA Shubhanshu Jain

CA Shubhanshu Jain (Expert)

26 May 2017 No, preliminary response is also not required to be filed

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