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OP12 44.2 5.02 AC OP11 S 4.02 AC OS (B× 5 AC 37 V CR V 37.80 AC (5× 5.01 AC LE S 44.1 ×6) FI V RD (F× V 57.5 2 AC 172 V 17.3 5.14 AC 2.54 AC V 57.9 ×7× 55 V ×A× 127.37 AC 5.25 AC V ×8× 57.1
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What is 5 ac?
5 ac stands for Annual Information Return (AIR) Form 5ac, which is used to report high-value financial transactions to the income tax department.
Who is required to file 5 ac?
Any person or entity who conducts high-value financial transactions as specified by the income tax department is required to file 5 ac.
How to fill out 5 ac?
To fill out 5 ac, one must provide details of the high-value financial transactions conducted during the financial year in the specified format.
What is the purpose of 5 ac?
The purpose of 5 ac is to track and report high-value financial transactions to prevent tax evasion and money laundering.
What information must be reported on 5 ac?
Information such as PAN, amount of transaction, mode of transaction, and other relevant details must be reported on 5 ac.
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