Form 61a

RAKSHIT MEHTA (tax consultant) (114 Points)

21 May 2017  

AS PER, New Rule 114E of the income tax rules, requires all assessees liable for TAX AUDIT u/s 44AB will have to file statement of financial transactions in Form 61A, in case of receipt of cash payment exceeding of Rs. 2,00,000/- for sale of goods/services of any nature. THE LIMIT OF 2,00,000/- IS FOR SINGLE TRANSACTION OR AGGREGATE OF ALL TRANSACTION FOR THE YEAR FROM A SINGLE PERSON.??