Income Tax Department has issued an advisory/reminder on filing of Statement of Financial Transaction which is required to be filed latest by 31-05-2018 for FY 2017-18
The following category of persons are required to file online SFT:
- Cooperative Bank
- Banking Company
- Post Master General
- Issuer of Bonds/debentures/shares
- Trustee of Mutual Funds
- Foreign Exchange Dealer
- Supplier of Goods or Services (who are covered under Tax Audit u/s 44AB)
If above category of persons are required to file online Statement of Financial Transaction (SFT) in Form No. 61A for specified transactions entered into with third parties during financial year 2017-18.
Delay in filing SFT is liable to penalty up to Rs. 1000/- for each day of default. Also, filing inaccurate particulars would also invite penalty.
Procedure for filing SFT has been modified and registration, statement upload and all other facilities for Form No. 61, 61A and 61B have been migrated Read more >>
Guidelines for Preparation of SFT us 285BA Rule 114E. Statement of financial transaction Form No. 61A Read More >>----------- Similar Posts: -----------