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:
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.
Also Read:
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: -----------Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants In 2015, the Ministry of Corporate Affairs…
Trade Tax Department was unjustified in retaining refund beyond stipulated period and adjusting it against default notices issued subsequently. In…
Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions…
Order u/s 148A(d) passed against non-existent entity is bad in eyes of law. Mere activation of PAN not give right…
Tax authorities not bound with provisions of section 44AE of the Act once assessee waived the option available In a…
Whether seized document is incriminating or not is definitely a findings of fact – High Court In a recent judgment,…