Webinars Required Articles  Required Partners Easy Of Doing Business E-Visiting Card Vinay Mittal
logo
VINAY NAVEEN & CO.
 Chartered Accountants
 
     
   
 

Income Tax > Notification

CBDT notifies Form 6D for Inventory Valuation Report under Section 142(2A)
Category: Notification, Posted on: 28/09/2023 , Posted By: CA. (Dr) VINAY MITTAL
Visitor Count:695

CBDT notifies Form 6D for Inventory Valuation Report under Section 142(2A)


The Finance Act 2023 substituted Section 142(2A) to empower the AO to appoint a cost accountant for the valuation of inventory. AO can issue the direction for the valuation of inventory if he believes it is necessary in the interest of the revenue to do so. Now, the CBDT, vide Notification No. 82/2023 dated 27.09.2023 has amended Rule 14B of the Income-tax Rules to provide that the inventory valuation report of an assessee, which is required to be furnished under section 142(2A), shall be in Form No. 6D. Thus, requires every CCIT to also maintain a panel of Cost Accountants.

Add a Comment

Name:
Your Comment:
View Comments ()

 
     
507421 Times Visited