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TMI BlogClarifications in respect of filling-up of return forms for the Assessment Year 2019-20X X X X Extracts X X X X X X X X Extracts X X X X ..... were issued and the software utility for e-filing of all the ITR forms was also released. After notification of the ITR forms, various queries were raised by the stakeholders in respect of filling-up of the ITR forms. The queries were examined in the Board and clarifications were issued to address the concerns raised therein, vide Circular No. 18 of 2019 dated 08.08.2019 and Circular No 21 of 2019 dated 27.08.2019. 2. Subsequently, further representations have been received on certain issues relating to filing of Forms ITR-5 , ITR-6 and ITR-7 . Accordingly, following clarifications are issued in continuation to the aforementioned Board Circulars. Question 1: In the Form ITR-6 , an unlisted company, other than a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ails of shareholding should be entered in the respective column of the table in Schedule SH-2, as under- (i) Name of Shareholder: - Enter name of the person holding shares as on end of the previous year (current shareholder). (ii) Date of allotment:-Enter date on which shares were transferred to the current shareholder as per companies register. (iii) Face value per share: - Enter the face value per share at which the shares had been originally allotted by the company. (iv) Issue price per share: - Enter the price at which shares were issued by the company to the original shareholder to whom the company had allotted the shares. (v) Paid up value per share: Enter the amount re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or Section 25 of Companies Act 1956 ? . In case the taxpayer selects Yes in the dropdown provided against the question, the details in Schedule SH-I are not required to be filled up. Question 4 : An unlisted company, other than a start-up, is required to furnish details of assets and liabilities in Schedule AL-I, which is mandatory. A start-up is required to furnish details of assets and liabilities in Schedule AL-2. In a case where the unlisted company/ start-up does not hold any of the assets specified therein as at the end of the previous year, please clarify how the details in Schedule AL-I/ Schedule AL-2 should be filled up? Answer: In the departmental utility of ITR-6 , at the beginning of Schedule AL-I/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment fund or a business trust is required to file return of income in ITR-5 . Please clarify how their income should be shown in Schedule SI etc.? Answer: An investment fund claiming exemption under section 10(23FB) or 10(23FBA) , or a business trust claiming exemption under section 10(23FC) or 10(23FCA), have to enter the amount of exempt income directly in column 12(b) or column 12(c), respectively, of the Part B-TI (computation of income) in the ITR-5. Such entities are not required to fill up the headwise details in Schedule BP, Schedule HP, Schedule CG, Schedule OS, and Schedule SI etc. Question 8: I am a trust registered under section 12A / 12AA filing return of income in ITR-7 . The amount receive ..... X X X X Extracts X X X X X X X X Extracts X X X X
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