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Question ID : 44360

Tax Audit - loan accpeted - PAN not avaialble

Clause 31a- loan accepted from farmers who does not have PAN. without PAN, the Tax Audit form is not getting uploaded.

Posted by samirkumar gokulbhai kasvala on Sep 03, 2022

Filed Under DIRECT TAXES

Answer ID : 83803

If the person from whom and by whom loan is taken both have only agriculture income and other income are within threshold limit, provisions of section 269SS are not applicable. Hence not required to report loan in such cases. But in other cases, PAN of farmers should be obtained and should be reported.

Posted by CA. chunauti dholakia on Sep 05, 2022