The Income-tax department has issued a new notification which requires the following Audit Reports to be filed electronically from A.Y.2013-14 (F.Y.2012-13) onwards. These audit reports needs to be filed electronically with the Digital Signature of the Chartered Accountant who has signed the report. As per this notification 42/2013 dtd 11/06/2013, the following reports are required to be filed electronically :-
1) Audit Report of Charitable Institutions u/s. 10(23C),10 & 12A
2) Audit Report u/s. 44AB – Audit report in respect of business with Turnover of Rs. 1 Crore or above / Business which declares income which is less than 8% of the Turnover of the business
3) Audit Report u/s. 10 A – In respect of units established in Trade Free Zone.
4) Audit Report in respect of Industrial units claiming deduction u/s. 80IA,80 IB, 80IC, 80ID,80JJA & 80 LA
5) Audit Report in respect of cases where transfer pricing regulations are applicable.
6) Audit Report in respect of Companies to which MAT (Minimum Alternate Tax) is applicable.
This notification also specifies that where an assessee is claiming relief under section 90 or 90A or deduction u/s. 91 of the Income-tax Act, such assessees shall filed their Income-tax returns electronically.
The relevant notification is reproduced below :-
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