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Form 29b: mat and its applicability

yashsr (CA) (2285 Points)

23 March 2012

Hello,

I've read that Form 29b on MAT is required to be submitted to the Income Department along with Return of Income. But I cannot find a place in ITR-6 for doing so. Do we have to physically submit this to the Department?

Also, is Report under Form 29b from a CA required in case of a loss making pvt ltd company?

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4 Replies

Sonam Bidasaria (CA) (770 Points)
Replied 23 March 2012

Sec 139D read with Rule 12 of Income Tax Rules, 1962 provides that

The return of income required to be furnished in Form SAHAJ (ITR-1) or Form No. ITR-2 or Form No. ITR-3 or Form SUGAM (ITR-4S) or Form No. ITR-4 or Form No. ITR-5 or Form No. ITR-6 shall not be accompanied by a statement showing the computation of the tax payable on the basis of the return, or proof of the tax, if any, claimed to have been deducted or collected at source or the advance tax or tax on self-assessment, if any, claimed to have been paid or any document or copy of any account or form or report of audit required to be attached with the return of income under any of the provisions of the Act.

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Sonam Bidasaria (CA) (770 Points)
Replied 23 March 2012

Sec 139D read with Rule 12 of Income Tax Rules, 1962 provides that

The return of income required to be furnished in Form SAHAJ (ITR-1) or Form No. ITR-2 or Form No. ITR-3 or Form SUGAM (ITR-4S) or Form No. ITR-4 or Form No. ITR-5 or Form No. ITR-6 shall not be accompanied by a statement showing the computation of the tax payable on the basis of the return, or proof of the tax, if any, claimed to have been deducted or collected at source or the advance tax or tax on self-assessment, if any, claimed to have been paid or any document or copy of any account or form or report of audit required to be attached with the return of income under any of the provisions of the Act.