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

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CA Mayur Todmal (Practicing CA) (7645 Points)
Replied 20 May 2017

screen shot of the ITD poratl , (compliace SFT Preliminary response )



Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160579 Points)
Replied 20 May 2017

@ Mr. Surana: May report to customer care:: to check if any alternative available !!


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

Select not applicable dnt select No option @ surana



(Guest)

Yes I guess we have to select No and generate ITDREIN with digital signature.

Is this applicable for those assessees who are doing tax audit for the first time in AY 2017-18 too? then it will not be fair as they might not have approached their tax practitioner yet.

is it applicable for assessees who were tax audits for AY 2016-17, but non audits in AY 2017-18?

1 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160579 Points)
Replied 20 May 2017

@ CA Mayur Todmal: For reporting persons as 'Individuals/HUF having tax audit liability in previous year'; who have received the mail for submission of  SFT under compliance, the option is applicable; but those who do not have any reporting transactions of cash sales of 2 lakhs or more in FY 2016-17, the option available for reporting is NO. The same is not accepted by the site without filing form 61a!!




Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160579 Points)
Replied 20 May 2017

" Is this applicable for those assessees who are doing tax audit for the first time in AY 2017-18 too? then it will not be fair as they might not have approached their tax practitioner yet."...............No, because the cannot get any complience from department!!

"is it applicable for assessees who were tax audits for AY 2016-17, but non audits in AY 2017-18?"...........Yes, because of mail from the department............"Operation Clean Money" !!


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

Registration of ITDREIN is mandatory even for SFT Preliminary Response.

1 Like

CA Mayur Todmal (Practicing CA) (7645 Points)
Replied 20 May 2017

Originally posted by : Dhirajlal Rambhia
@ CA Mayur Todmal: For reporting persons as 'Individuals/HUF having tax audit liability in previous year'; who have received the mail for submission of  SFT under compliance, the option is applicable; but those who do not have any reporting transactions of cash sales of 2 lakhs or more in FY 2016-17, the option available for reporting is NO. The same is not accepted by the site without filing form 61a!!

Dear Sir, I am not understanding whether pre-liminary response is applicable to all asseessee , even if no cash transactions took place. As "CA Rajan Raichura " is saying it is applicable but no source.


CA Mayur Todmal (Practicing CA) (7645 Points)
Replied 20 May 2017

Originally posted by : Dhirajlal Rambhia
@ CA Mayur Todmal: For reporting persons as 'Individuals/HUF having tax audit liability in previous year'; who have received the mail for submission of  SFT under compliance, the option is applicable; but those who do not have any reporting transactions of cash sales of 2 lakhs or more in FY 2016-17, the option available for reporting is NO. The same is not accepted by the site without filing form 61a!!

Sir,

it menas any way all assessee under tax audit need to file form 61a. Please clear if im wrong. Really confusing 


Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160579 Points)
Replied 20 May 2017

Finally, It is to accept that there is no other alternative provided by system (for time being), but to report the SFT under complience by generating ITDREIN and submitting form 61a, by performing all that formalities ...............applicable to all those  who have received the SFT complience mail from the department!!!

(Even though there may not be any single transaction REPORTABLE)   !!!!!!!!!!!!!!!!!!!!!




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

Sir,

 

           In compliance by selecting in STF 13, Not applicable option we can submitted,without generating ITDREIN i think.


CA Mayur Todmal (Practicing CA) (7645 Points)
Replied 20 May 2017

Originally posted by : Ashim kr Ray
Sir,

 

           In compliance by selecting in STF 13, Not applicable option we can submitted,without generating ITDREIN i think.

But, to  Tax audit assessee , you can not say SFT 0-13 not applicable

1 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160579 Points)
Replied 20 May 2017

" In compliance by selecting in STF 13, Not applicable option we can submitted,without generating ITDREIN i think."

No; that will be mis-reporting under law. Rather than that you may not report at all, that may not attract any penalty (at first stage, because no reportable trasaction), but mis-reporting can attract penalty.

2 Like

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

SFT 13 is applicable for person under Tax Audit... so selecting NOT APPLICABLE would be wrong i think...

We can say it is applicable but there are no transaction .. so selecting NO would be approciate...

Cant try NOT APPLICABLE just to file the response.. since dont know the step ahead and dont know if we can change the response option once filed...

1 Like




(Guest)

 

 

This message is being circulated by whatsapp, don't know if true or fake. I hope there is some clarification soon.

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