Tax Audit Report

[nindar kumar]

Respected Experts,

Let me know that u/s 269SS and 269TT in tax audit report is mention that maximum amount outstandingat any timeduring the previous year. What should meaning of these words. I want to know this through a examle e.i

Date Dr Cr Total Amt

31.10.2015 1000Cr

31.10.2015 500 1500Cr

31.10.2015 200 1300Cr

Now what amt to be showed in tax audit report under above section.

Whether this should Amt1500 or 1300.

AI Summary

Clarification on Reporting 'Maximum Amount Outstanding' for Sections 269SS and 269TT: Use Highest Figure, Example Shows 1500. A participant in a discussion forum inquired about the interpretation of the terms 'maximum amount outstanding at any time during the previous year' under sections 269SS and 269TT of the tax audit report. They provided a transaction example and asked whether the amount to be reported should be 1500 or 1300. An expert responded, advising that the amount to be shown should be 1500.