Furnish Year Pdf For Free

What is Statement of Financial Transaction? Statement of financial transaction (SFT) is record of specific financial transaction done by specific person. All high value transactions need to be reported as per income tax law. These high value transaction is included in statement of financial transaction (SFT).

Failure to Furnish SFT If you fail to furnish your SFT within the due date, your concerned income-tax authority will send a notice urging you to furnish SFT within 30 days. The penalty for non-filing of SFT within this due date is ? 500 every day of default.

If specified financial transactions have not been entered into, it is the not mandatory to file NIL statement of Financial Transaction (Form No. 61A?). However, an assessee has to file preliminary response.

Under clause 21(b)(ii)(A), and 21(b)(ii)(B) auditor is required to report payments to residents on which tax is required to be deducted but not deducted or if deducted not deposited within prescribed time under Chapter XVII-B of the Income Tax Act. 3.

Amendment of section 271FAA. ?then, the prescribed income-tax authority under subsection (1) of section 285BA may direct that such person shall pay, by way of penalty, a sum of fifty thousand rupees.

Overall, a penalty of Rs 500 per day from the expiry of the original due date till the due date mentioned in the notice and Rs 1,000 per day beyond the due date specified in the notice.

44: Clause No. 44 of Form 3CD requires the Assessee to fill in data of the total amount of expenditure incurred during the year with a bifurcation primarily of expenditure relating to GST registered suppliers and Non-GST registered suppliers.

Procedure at e-filing portal of Deductor ? Go on e-filing Portal. Login as deductor. Select e-file > Submit and View Form 26A / 27BA. Click on assign CA and enter the membership number of the CA who is certifying Annexure A of form 26A. CA will be assigned.