Applicability of SFT

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sundeep (Querist)
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26 May 2017 Whether every person having Tax Audit has to file Statement of Financial Transactions or not?

CA Rashmi Gandhi (Expert)
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26 May 2017 Not every those who have receipt from sale of goods/services of more than Rs.200000/- per transaction is required to file SFT.

CA CS Jainam Shah (Expert)
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26 May 2017 It is advisable to file SFT as the IT department has provided option for filling SFT for NIL transactions.

sundeep (Querist)
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26 May 2017 Thank you Submitting SFT Preliminary response is enough for nil transactions or we have to submit Form 61A

CA CS Jainam Shah (Expert)
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26 May 2017 No. Submitting preliminary response will be enough. No need to file form 61A

sundeep (Querist)
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26 May 2017 Thank you for your reply

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