My books of accounts audited since FY 2012-13, we have not made under 14Q of SFT Preliminary Response. Is there is required to file NIL Transaction or Not applicable under SFT Preliminary Response ? If we have not file, there is any penalty ? if yes, how much ?
27 May 2017
Quote form CBDT press release dated 26.5.2017 is
"A functionality “SFT Preliminary Response” has been provided on the e-Filing portal for the reporting persons to indicate that a specified transaction type is not reportable for the year".
Inference is SFT is mandatory, but form 61A has to be filed only if there is reportable transaction(s).
CAclubindia
