Additional Requirements for MSMEs in ITR-6 Filing – Notification No 16/2016 dated 24.01.2024

Companies filing ITR in ITR-6 to include the following additional information on cursory review :

1. the Legal Entity Identifier (LEI) if applicable (only certain class of assesses as of now)…………..(A19)(r)
2. MSME registration number, ……………(A19)(s) – what does it imply, food for thought and
3. Reasons for tax audit under Section 44AB of the IT Act. -…………..General information .(biv)
4. Mandatory disclosure of winnings from online games under Section 115BBJ of the IT Act and virtual digital assets ……Schedule OS- Part 2- aii…………plus bifurcation of winnings for the purpose of advance tax determination similar to Income from Dividend other income in Row 10……….

This would usher more transparency in data reporting in the ITR by all the corporates.