Section 285ba

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m.faruk yusuf patel (Querist)
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27 November 2012 which details are required to be submited u/s.285BA by specified person?kindly explain me with details.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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27 November 2012 Section 285BA is for Annual Information Return (AIR)

AIR is to be submitted for the following transactions:

(a) transaction of purchase, sale or exchange of goods or property or right or interest in a property; or
(b) transaction for rendering any service; or
(c) transaction under a works contract; or
(d) transaction by way of an investment made or an expenditure incurred; or
(e) transaction for taking or accepting any loan or deposit,

See Rule 114E for the monetary limit.

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