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Person not made cash sale of Rs 2 lac has to submit 61A?

Page no : 2

Ashim kr Ray (social service) (1685 Points)
Replied 19 May 2017

Sir,

 

  To fill this whether preliminary respond has to be submitted or we have to upload form 61A after creating ITDEF.



SURANA (PROPRIETOR) (515 Points)
Replied 19 May 2017

I tried to search about this issue and no where i could find whether it is mandatory to report even if no such transaction are made under SFT 013... nor the email or any articles speaks about it... so lot of Confusion...

Maybe if someone tried to file NIL Report can throw some light on it...

One thing is clear that Aggregate rule is not applicable for SFT 013... so it has to be one single transaction of 2 lacs or more.

 


Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160574 Points)
Replied 19 May 2017


Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160574 Points)
Replied 19 May 2017

"To fill this whether preliminary respond has to be submitted or we have to upload form 61A after creating ITDEF."

Here in this mail it is clearly stated: You are requested to submit the "SFT Preliminary Response" under compliance section post login to eFiling portal.
 


G.S. Arora (no) (98 Points)
Replied 20 May 2017

Dhirajlal Rambhia Sir,
But where it is written that it is not mandatory?




Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160574 Points)
Replied 20 May 2017

" But where it is written that it is not mandatory?"

No !!! It is clearly written that it is mandatory to file the SFT "in respect of specified financial transactions for any reportable account registered/recorded/maintained by them during the financial year to the income-tax authority or such other prescribed authority"

Also  mandatory "to furnish the statement within a period not exceeding 30 days from the date of service of any notice from concern officer and in such a case the person shall furnish the statement within the time as specified in the notice"

Also mandatory to file NIL transaction statement, once registered under ITDREIN !!!!
 

Here in this mail also it is clearly stated: You are requested to submit the "SFT Preliminary Response" under compliance section post login to eFiling portal.
 


Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160574 Points)
Replied 20 May 2017

@ CA Madhvi Pandit:

"If we select No for audit cases (who has not accepted cash), ITDREIN is needed to submit response.

If we try to generate ITDREIN, it asks for form type eg 61A etc

Since there are hardly any days left, I hope the department comes out with a clarification,"

No need to generate ITDREIN, You may reply to the mail or submit grievance under E-Nivaran, stating the fact.

1 Like


(Guest)

 

Kindly comment on the second option

Particulars

Preliminary Response

Filing of Form 61A

Persons not covered under Tax Audit (other than companies)

Response as “NOT APPLICABLE” and no need to apply for ITDREIN Number

Form is not required to be filed.

Persons covered under Tax Audit and do not have Cash Sales of Rs. 2 lakhs per transaction during the year

Response as “NO” and required to apply for ITDREIN Number

Upload Form 61A with option “ND – No Data”

Persons covered under Tax Audit and have Cash Sales of Rs. 2 lakhs per transaction during the year

Response as “YES” and required to apply for ITDREIN Number

Upload Form 61A with option “Filing of Original Statement” and provide the details (name of party, date, amount, PAN and address)

In the case of Companies who have received share application money or against issue of shares above Rs 10 lakhs from single party, during the year

Response as “YES” and required to apply for ITDREIN Number

Upload Form 61A with option “Filing of Original Statement” and provide the details (name of party, date, amount, PAN and address)

In the case of Companies who have not received share application money or against issue of shares above Rs 10 lakhs, from single party during the year

Response as “NO” and required to apply for ITDREIN Number

Upload Form 61A with option “ND – No Data”

 
3 Like

SURANA (PROPRIETOR) (515 Points)
Replied 20 May 2017

Various Departments have decided to keep professional busy 365 days... so to achieve this they keep bring something new every now and then :)

For some Professionals it is a great opportunity and for some headache..

Easy of doing business can be achived only by spending good amount to highly qualified Professionals :)

No more days for small business...

 

2 Like

SURANA (PROPRIETOR) (515 Points)
Replied 20 May 2017

Just saw the Features of the Utility

7 Other Features of the Utility
1. Export SFT Data in CSV file
2. Save Draft XML File
3. Open Saved XML File
4. Prepare NIL Statement
5. Prepare Correction Statement

Since the option to Prepare NIL Statement is there, as per the information available, but dont know for which category...

 




Ashim kr Ray (social service) (1685 Points)
Replied 20 May 2017

Sir,

          I have made conversation with an ITO he has advise me if not applicable then go to compliance select no stating the reason and submitted.

           if applicable then has to be submitted the 61A form

1 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160574 Points)
Replied 20 May 2017

@ CA Madhvi Pandit: A perfect book interpretation by CA Rajan Raichura.

If the "SFT Preliminary Response" under compliance section doesn't accept the 'No' option for "Persons covered under Tax Audit and do not have Cash Sales of Rs. 2 lakhs per transaction during the year" without generating ITDREIN, you are left with no other choice!!!

I would wait till last moment for any other option, or just reply by mail.


Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160574 Points)
Replied 20 May 2017

Originally posted by : Ashim kr Ray
Sir,

          I have made conversation with an ITO he has advise me if not applicable then go to compliance select no stating the reason and submitted.

           if applicable then has to be submitted the 61A form

 

A confirmation about acceptance of option 'NO' ( "SFT Preliminary Response" under compliance section) without upload of form 61A, or generating any ITDREIN!!!

 


Ashim kr Ray (social service) (1685 Points)
Replied 20 May 2017

Sir,

 No  idea about this.




SURANA (PROPRIETOR) (515 Points)
Replied 20 May 2017

I just tried to SFT Preliminary Response option available on site... (Print Screen available in Word File attached herewith)

Could not file it since Registration for ITDREIN is mandatory for Preliminary Response too.


Attached File : 453905 20170520124202 sft preliminary response.doc downloaded: 203 times


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