CBDT Notifies Form 6D For Furnishing ‘Inventory Valuation Report’ U/s 142(2A) of Income Tax Act

The Central Board of Direct Taxes (CBDT) has notified the Form 6D for furnishing of ‘Inventory Valuation Report’ under section 142(2A) of the Income Tax Act.

The Board has notified Income-tax (Twenty-Second Amendment) Rules, 2023.

A new rule, Rule 14A has been inserted which deals with the Forms for a report of an audit or inventory valuation under section 142(2A). The report of the audit of the accounts of an assessee which is required to be furnished under clause (i) of sub-section (2A) of section 142 shall be in Form No. 6B. The report of inventory valuation of an assessee which is required to be furnished under clause (ii) of sub-section (2A) of section 142 shall be in Form No. 6D.”

Rule 14B has been inserted which provides for the guidelines for the purposes of determining expenses for audit or inventory valuation.

As per the guidelines, every Chief Commissioner shall maintain a panel of accountants; and cost accountants, out of the persons referred to in the Explanation to section 142.

Notification No. 82/2023

Date: 27/09/2023

Click Here To Read The Notification