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CMA Intermediate · Direct and Indirect Taxation · Filing of Return of Income

Under the Income-tax Act, 2025, the Board may make a Scheme for furnishing returns through a tax return preparer. Which of the following persons falls within the 'specified class or classes of persons' for the purposes of this Scheme?

An individual whose accounts are not required to be audited under section 63 or any other law is within the specified class. Companies and persons subject to audit under section 63 or any other law are expressly excluded from the tax return preparer Scheme.

  1. AA company with total income of Rs 40 lakh
  2. BAn individual who is not required to get accounts audited under section 63 or any other lawCorrect
  3. CA firm whose accounts are required to be audited under any other law
  4. DA person whose accounts are required to be audited under section 63

Explanation

The specified class means any person, other than a company or a person whose accounts must be audited under section 63 or any other law, who is required to furnish a return. An unaudited individual qualifies. Companies and persons subject to audit under any law are excluded, so the other options fail.

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