Section 92E of Income Tax Act for AY 2023-24

Section 92E of Income Tax Act. Report from accountant furnished by persons entering into international or specified domestic transaction.

Amended and updated notes on section 92E of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction.

Chapter X (Sections 92 to 94B) of the Income Tax Act 1961 deals with the provisions related to special provisions relating to avoidance of tax. Section 92E of IT Act 1961-2023 provides for report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction.

Recently, we have discussed in detail section 92D (Maintenance, keeping and furnishing of information and document by certain persons) of IT Act 1961. Today, we learn the provisions of section 92E of Income-tax Act 1961. The amended provision of section 92E is effective for financial year 2022-23 relevant to the assessment year 2023-24.

In this article, you will learn detail of the provisions of section 92E of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962, regulations, notifications, circulars, orders and Press Release by CBDT, Income Tax Department and the Ministry of Law and Justice, Government of India.

Section-92E: Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction

Every person who has entered into an international transaction or specified domestic transaction during a previous year shall obtain a report from an accountant and furnish such report on or before the specified date in the prescribed form duly signed and verified in the prescribed manner by such accountant and setting forth such particulars as may be prescribed.


Open Demat Account

For Investing or Trading

(Best Investing and Trading Platform in India)

Learn More