Specified date definition clarified: fixes 31st October of the assessment year as the accounts cutoff for compliance. The Finance Act, 2001 amends section 44AB by specifying that the "further report" must be furnished "by an accountant" and by redefining "specified date" ... Summary
Specified date definition clarified: fixes 31st October of the assessment year as the accounts cutoff for compliance.
The Finance Act, 2001 amends section 44AB by specifying that the "further report" must be furnished "by an accountant" and by redefining "specified date" in the Explanation to mean the 31st day of October of the assessment year, thereby fixing the deadline that governs account-related compliance and reporting under the provision.
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