- ITR-A
is a form provided to furnish a modified return by a successor company to
a business reorganization for an assessment year.
- Where businesses go through a
reorganization the successor entity, is required to file modified returns
for the period between the date of effectivity of the order and the date
of issuance of the final order of the competent authority. Form ITR-A is
the prescribed form by the Income Tax Department for filing such a return.
- When two or more business goes
under remodeling, reconstruction, amalgamation, or merger the resulting
business or entity is known as the successor entity, and the businesses
going under reorganization are known as the predecessor entity.
- The prescribed form should be
furnished within six months from the end of the month in which said order
was issued.
- The ITR-6 (applicable for
companies) has been modified to include information contained in FORM
ITR-A.
- In Appendix II, in Form ITR-6- PART
A-GEN, entries of the serial number (A19)(a)(i), have been substituted,
for every assessment year commencing on April 01, 2022, or any, earlier
assessment year.
(Rule 12AD of the Income Tax Rules)
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