UPLOADING OF TAX AUDIT REPORT NOT THAT EASY- PAN OF ALL THE LENDERS MANDATORY

Central Board of Direct Taxes By making amendments in the Rule 12 vide notification no 34 dated 1st May 2013 has made it compulsory for the  auditors to upload tax audit reports i.e. Form 3CA-CD/3CB-CD directly on the e filing  portal. Excel utility for the preparation of tax audit report has been provided for generating  .xml file for uploading. This excel utility can  not be validated until unless the PAN of the lenders are not provided . The auditors are not habitual of mentioning the PAN  of lenders till date as it is not mandatory by law for the lenders to hold PAN.

For validating and uploading the tax audit report the PAN of the lenders should be mentioned in the excel report itself  means all the lenders must have PAN whether they are subject to tax or not. Further It’s not that easy to collect and feed the PAN of all the lenders as most of the lenders might not be holding PAN, hence this utility needs to be reviewed and accordingly amended. 

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