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 >>
Order u/s 69 of the CGST Act authorising arrest of a person has to be communicated to him before arrest–…
Refund can not be denied on the ground that it was claimed in a return filed u/s 148 where no…
The distinction between religious and charitable purposes is determined by institution's primary or dominant object and not merely by presence…
For determination of what constitutes a fit case to issue notice u/s 148, rule of relevancy of the material and…
AO is under an obligation to duly consider the explanation furnished by the assessee and assign reasons for rejecting the…
CBIC issues SoP for clearance of imported goods through Foreign Post Offices under Postal Import Regulations, 2025. Standard Operating Procedure…