Form
61A clarification about Audited Case u/s 44AB :
If there is reportable transaction -
ITDREIN registration is mandatory and Filling of Form 61A is mandatory,
also SFT preliminary response is compulsory.
If
nil transaction - ITDREIN registration not mandatory, Form 61A not mandatory
and SFT preliminary response in optional (not mandatory)
But
it is advisable to file SFT preliminary response in case of NIL transactions.
One
more thing, for filling NIL SFT preliminary response, generation of ITDREIN is
not required at all, you can submit all the responses against all 14 SFT
without selecting ITDREIN number column.
If assessee is audited u/s 44AD then also provisions of audited case u/s 44AB
is applicable because 44AD audit is also governed by Section 44AB only.
You can also check this Press Release
on the same issued by Income Tax Department : 26-05-2017-Press Release-
Clarification-SFT
If assessee is audited u/s 44AD then also provisions of audited case u/s 44AB is applicable because 44AD audit is also governed by Section 44AB only.
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