Saturday, May 4, 2013

Mandatory e-filing of audit reports u/s 44AB AY 2013-14


on Saturday, May 4, 2013

E filing of Audit report has been made mandatory for assessees from assessment year 2013-14. CBDT has notified Income-tax (3rd Amendment) Rules, 2013 vide NOTIFICATION NO. 34/2013 [F.NO.142/5/2013-TPL]/SO 1111(E), DATED 1-5-2013.Under these rules ,various rules regarding Income tax return for assessment year has been amended. This will be additional work and expense for assessees who's accounts are liable to audited under specified sections . After this notification ,CAs will charge more fees from their clients to submit Audit report in e filing compliant. Further it will  also be a headache for CA as manual  tax audit report is much easier to fill , however in e filing, you have to file each and every column ,cell at right place and in right format ,otherwise audit report will not be validated and XML file can not be generated.So it is challenging Job for CAs also.


As per Notification 34/2013 dated 01.05.2013, e filing of Audit report under following section is mandatory from assessment year 2013-14.

  1. Audit report under Sec. 44AB in respect of books of account;
  2. Audit report under Sec. 92E in respect of international transaction; or
  3. Audit report under Sec. 115JB in respect of MAT computation.
Rule 12 has been suitably amended :In sub-rule(2), the following proviso shall be inserted, namely:- 

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