ITR 4 AND ITR 6

This query is : Resolved

seema singla (Querist)
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14 February 2009 Is there any column for details of Section 269SS and Section 269T in ITR 4 and ITR 6.
If Yes, Plz mention where it is.
I could not find anywhere in the forms.
Please guide me.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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14 February 2009 Yes there is no such column in these forms.

seema singla

seema singla (Querist)
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14 February 2009 Thanks for the reply, Sir.
But then how to put these details in the resp. forms or there is no need for this. This will be a part of Tax audit report only (manual)!
Please reply

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Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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02 August 2024 Sections 269SS and 269T of the Income Tax Act deal with the acceptance and repayment of loans and deposits, specifically requiring such transactions to be in the form of account payee cheques or bank drafts. These sections aim to curb the practice of accepting or repaying loans and deposits in cash.

### ITR Forms and Sections 269SS and 269T:

#### **1. ITR-4:**

- **Section 269SS and 269T Details:**
- There is no specific column or section in ITR-4 to report details related to Section 269SS and Section 269T directly.
- These details are not required to be filled out in the ITR forms as they pertain to compliance issues related to the acceptance and repayment of loans, rather than to the income or deductions that need to be reported.

- **Tax Audit Report:**
- Compliance with Sections 269SS and 269T is typically covered in the Tax Audit Report (Form 3CD). If the transactions involve significant amounts or are material to the financials, they should be disclosed in the audit report, which is a separate document from the income tax return.

#### **2. ITR-6:**

- **Section 269SS and 269T Details:**
- Similar to ITR-4, ITR-6 does not have specific columns or sections dedicated to reporting compliance with Sections 269SS and 269T.
- The focus of ITR-6 is on reporting income, deductions, and other tax-related details for companies.

- **Tax Audit Report:**
- For companies, compliance with Section 269SS and Section 269T will be included in the Tax Audit Report (Form 3CD). The auditor will check and report on compliance with these sections as part of the audit process.

### **How to Address Compliance with Sections 269SS and 269T:**

- **Tax Audit Report (Form 3CD):**
- Ensure that your Tax Auditor provides a complete and accurate report including details on compliance with Sections 269SS and 269T.
- The auditor should verify that all loans and deposits are accepted and repaid in accordance with the prescribed methods (account payee cheques or bank drafts) and report this in Form 3CD.

- **Maintaining Records:**
- Maintain proper records of all transactions involving loans and deposits to ensure that they comply with Sections 269SS and 269T. This will be useful if any queries arise or if there is a need for verification during an audit.

### **Summary:**

- **ITR-4 and ITR-6:** Do not have specific sections or columns for reporting compliance with Sections 269SS and 269T.
- **Tax Audit Report:** This is the appropriate place to address and report compliance with these sections. Ensure that the Tax Auditor includes necessary details in the audit report.

For accurate and comprehensive compliance, always ensure proper documentation and consult with a tax professional or auditor who can provide guidance specific to your situation.