Reporting threshold raised: statements for specified payments now required only above the revised monetary limit in returns. The Board has directed that, pending amendment of return Forms Nos. 1, 2 and 3A, compliance with the Annexure requirements under the statutory provision will be satisfied if assessees furnish statements only for payments of rent, interest, commission, royalty, brokerage and certain annuities exceeding Rs.1,000, thereby temporarily raising the prior Rs.400 reporting threshold and instructing officers to give effect to this change.
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Provisions expressly mentioned in the judgment/order text.
Reporting threshold raised: statements for specified payments now required only above the revised monetary limit in returns.
The Board has directed that, pending amendment of return Forms Nos. 1, 2 and 3A, compliance with the Annexure requirements under the statutory provision will be satisfied if assessees furnish statements only for payments of rent, interest, commission, royalty, brokerage and certain annuities exceeding Rs.1,000, thereby temporarily raising the prior Rs.400 reporting threshold and instructing officers to give effect to this change.
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