AIR by any person who is liable for audit u/s 44AB

Section 285BA of Income Tax Act, 1961 read with Rule 114E of Income Tax Rules, 1962 mandates, inter-alia, that AIR shall be e-filed by any person who is liable for audit under section 44AB of the Act in respect of receipt of cash payment exceeding two lakh rupees for sale by any person of goods or services of any nature. The said threshold limit shall be applied by taking into account all the accounts of the same nature in respect of that person during the financial year. The said provisions are applicable with effect from AY 2015-16