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61 a reporting
we have issued 3 bills of rs. 1 lakh to a party on different dates and received 20000 on different dates (total rs. 300000) . should we report this in form 61a
Replies (3)
No
For ITDREIN Registration before filing Form 61A, Is an individual who is required to be audited u/s 44AB of Income Tax Act, also required to add authorised person.
CBDT has already clarified that the Cash limit of Rs. 200000 applies for each transaction and not on aggregate. Since in your case each bill or transactìon is less than 200000 no reporting requirement is there.
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