Section 281 declaration for all the properties

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To disburse loans, a Section 281 declaration for all properties is necessary. This certificate confirms no outstanding tax liabilities that could affect the property. The discussion includes the official format for this certificate and notes that rules changed following an amendment on 29/07/2021.

CA Sudeep Singh

CA Sudeep Singh (Querist)

29 October 2021 For loan loan disbursement, section 281 declaration for all the properties is required, does it has to be issued by jurisdictional AO or is there any format for it? If yes, then please share it with me.

Thanks in Advance.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

29 October 2021 FORM NO.SEC/L/CER-5/1
FORMAT OF CERTIFICATE UNDER SECTION 281(1)(ii) OF THE
INCOME-TAX ACT, 1961
OFFICE OF THE INCOME-TAX OFFICER
__________________Address
Ref. No. Dated : ___________________
CERTIFICATE UNDER SECTION 281(1)(ii) OF THE INCOME-TAX ACT, 1961
Permission is hereby granted to M/s ______________________________________ to obtain term loan of Rs.________________ lakhs from Indian Renewable Energy Development Agency Limited (IREDA) on the strength of mortgage of immovable assets and hypothecation of movable assets of the company.
This certificate is issued at the express request of the company through its letter dated __________.
Seal :
____________________
Signature of Income tax Officer

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

29 October 2021 As per recent amendment the rules have changed from 29/07/2021; wide rule no. 130 of IT act.

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