21 June 2020
Dear Sir, My client received investments (Preference Share) amount of Rs. 1.15 crore. As per form 61A, if an individual invests in share more than Rs 10,00,000/- in the financial year, is mandatory to file. So what are the investors details required to file form 61A.
21 June 2020
The Form 61A needs to be filed by the company issuing these shares and receiving the amount from the subscriber of the share, as under Rule 114E of Income Tax Act, the Reporting Person under this category shall be the company issuing such shares and receiving the amount.
21 June 2020
And yes, the Threshold for reporting under Form 61A is Rs.10 Lakh in a Financial year. For Form related specific details you shall browse the Form itself, as each year there are changes in the form for reporting.
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