Form 61a rule 114esection 285ba
This query is : Resolved
19 May 2017
Our client is liable to tax audit u/s 44AB.
But he dose not receive sale proceeds in cash .All are bank receipts.
Still he needs to file form 61A saying NIL transactions to report?
But he dose not receive sale proceeds in cash .All are bank receipts.
Still he needs to file form 61A saying NIL transactions to report?
20 May 2017
No need of filing nil report.
20 May 2017
Thank you sir for reply
Can you tell me sir on what basis this conclusion is arrived ?
Can you tell me sir on what basis this conclusion is arrived ?
21 May 2017
New Rule 114E of the income tax rules requires all assessees liable for tax audit u/s 44AB will have to file statement of financial transactions in Form 61A, in case of receipt of cash payment exceeding of Rs. 2,00,000/- for sale of goods/services of any nature.
Read the above provision filing is required only in case of receipt of cash payment exceeding of Rs. 2,00,000/- for sale of goods/services of any nature.
Read the above provision filing is required only in case of receipt of cash payment exceeding of Rs. 2,00,000/- for sale of goods/services of any nature.
21 May 2017
Ok Thank you very much sir
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