INCOME TAX

Guidelines regarding filing of auditors report in old format of Form No. 10CCAC, along with the return, in place of new format of Form No. 10CCAC for claiming deduction under section 80HHC

Circular : No. 1/2001, dated 17-1-2001.

1. The provisions of section 80HHC require filing of Auditors Report in the prescribed Form No. 10CCAC along with return of income for claiming the deduction under the said section. This Form was revised by the Income-tax (Fifteenth Amendment) Rules, 1992, with effect from 1-4-1992. Instances have been brought to the notice of the Board that the benefit is, at times, denied in cases where the Auditors Report has been filed in the pre-revised format.

2. The matter has been examined in the CBDT and it is hereby clarified that the submission of Auditors Report in the old format of Form No. 10CCAC in place of the new format is a defect which can be corrected by filing the Auditors Report in the revised format during the course of assessment proceedings.

Circular : No. 1/2001, dated 17-1-2001.