Form 61a

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monika (Querist)
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13 May 2017 I AM ASESEE ( WHO IS RESPOSABLE FOR AUDITING UNDER 44AB )
I HAVE NOT RECIEVED PAYAMENT IN CASH EXEEDING RS. 200000

AM I RECPONSABLE TO SUBMIT NILL STATE MENT OF FORM 61A ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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14 May 2017 No. Inference - section 285BA and rule 114E.

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monika

monika (Querist)
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14 May 2017 i want to know that nill statement in form 61A compulsory or not ?

because in utility of form 61A there are option of ND- no data is present , so i am confused

please see utility of form 61A >part A > a.2 statement detail >statement type > ND- data

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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25 July 2024 Form 61A, also known as Annual Information Return (AIR), is a statement that needs to be filed by certain assesses to report specified financial transactions to the Income Tax Department of India. Here’s a clarification regarding your query:

### Need to Submit Nil Statement in Form 61A

If you are an assessee responsible for auditing under section 44AB (which typically includes professionals like chartered accountants, lawyers, etc.), and you have not received any cash payment exceeding Rs. 2,00,000 during the financial year, you are not required to submit a Nil statement in Form 61A.

### Clarification on Utility Option "ND - No Data"

In the utility of Form 61A, under "Statement Detail > Statement Type," you have noticed the option "ND - No Data." This option is specifically meant for cases where there are no transactions to report under any of the specified categories in Form 61A. If you do not have any transactions to report (which includes receiving cash payments exceeding Rs. 2,00,000), you can select "ND - No Data." This indicates to the Income Tax Department that there are no transactions to report under that particular category.

### Conclusion

- **Nil Statement Requirement**: You do not need to submit a Nil statement if you have not received any cash payment exceeding Rs. 2,00,000.
- **Utility Option "ND - No Data"**: Use this option if you have no transactions to report under Form 61A. It indicates that there is no data to report under the specified category.

Therefore, for your situation where you have not received any cash payments exceeding Rs. 2,00,000, you can select "ND - No Data" in the utility of Form 61A. This will fulfill your reporting requirement effectively. Always ensure that your selections accurately reflect the transactions (or lack thereof) to maintain compliance with tax regulations.

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