financial follow up report

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CBDT issues clarification on furnishing SFT and SFT Preliminary Response


Central Board of Direct Taxes CBDT Issues Clarification on furnishing Statement of Financial Transaction SFT SFT Preliminary Response Section 285BA of the Income tax Act 1961 requires furnishing of a Statement of Financial Transaction SFT for transactions prescribed under Rule 114E of the Income tax

Amendment in revised Guidance Note on Audit of Consolidated Financial Statements


I The Council of ICAI at its 365th meeting held on May 17 19 2017 considered a matter regarding amendment to paragraph 17 of Revised Guidance Note on Audit of Consolidated Financial Statements issued in October 2016 At the meeting the Council noted that the members had expressed concerns regarding t

Persons liable to file Statement of Financial Transaction (SFT)


Addendum to the GST rate schedule for goods


ADDENDUM TO THE GST RATE SCHEDULE FOR GOODS As per discussions in the GST Council Meeting held on 18thMay 2017 I The following amendments additions are required to be made to the aforesaid document 1 In S No 22 i In the Nil rate column the entry Tender coconut water put in unit container and bearing

Ministry of Finance Key Initiatives in the last three years


Department of Expenditure Ministry of Finance takes Key Initiatives in the last three years General Financial Rules 2017 released Central Sector and Centrally Sponsored Schemes rationalized Over Rs 1 lakh crore paid through Public Financial Management System PFMS in various Social Sector Schemes und

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Experts Opinions

Consolidation of financial statements


Hi can some one clarify me with the following In minority interest how to treat securities premium In consolidated statement what amount of assets and liabilities to be merged whether all or only the consolidator like parent company share If possible send notes of consolidation including AS11 reserv

Independent auditors report format for fy 2016-17


Could someone provide independent auditors report format for Financial Year 2016 17

Audit report format


Plz provide me the format of forming opinion on cash transactions under audit report for f y 2016 17 and also format of annexure of cash transactions to be annexed with financial statements

Specimen audit report 2017


I need specimen audit report in word file for the financial year 2016 17 in case of small private Ltd company not falling under Ind acct std I will be thankful if anyone can send the same on my email nayman203 yahoo com Thanks in advance for the help

Financial reporting cafinal


Hi friends plz prescribe me any reference book for FR because as many student use sm pm for AS and IND AS my argument is sm cost us rs 600 if we spend 800 then we can buy any reference book which will be obviously better than icai study material e g mp vijaykumar Then why should we buy sm Plz reply

Discussion

Statement of financial transaction

Case A company issued shares amounting Rs 1900000 in F Y 16 17 but the company is going to receive amount in F Y 2017 18 Now whether company is require to report this transaction in FORM 61A or Not If ans of above ques is affirmative then how the transaction details will be provided as company has n

Statement of financial statement guidance

Case A Pvt Company issued shares receive more than 10 lakh from one allottee In respect of statement of financial transaction Please guide 1 In Statement details point no A 2 1 statement Number whether we can mention 2016 01 2 A 2 8 Numbers of reports can we report 1 in respect of one allottee 3 In

stock lying on reported date

suppose water bottle which is taxed at 14 5 vat is being made 5 gst now what is the effect of price on the stock which is with retailers after gst appointed date which they will hold MRP including the earlier rate of 14 5vat kindly advice

Independent auditor's report format fy 2016-17

Could someone provide independent auditors report format for Financial Year 2016 17

Trust audit report.

Can we get certified audited financial statements of the trust from Charity Thane if yes can i know the procedure

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  • Clarification on SFT by CBDT

    Press Information Bureau Government of India Ministry of Finance 26 May 2017 12 21 IST Central Board of Direct Taxes CBDT Issues Clarification on furnishing Statement of Financial Transaction SFT SFT Preliminary Response Section 285BA of the Income tax Act 1961 requires furnishing of a Statement of Financial Transaction SFT for transactions prescribed under Rule 114E of the Income tax Rules 1962 The due date for filing such SFT in Form 61A is 31st May 2017 In case there are reportable transactions for the year the reporting person entity is required to register with the Income Tax Department and generate Income Tax Department Reporting Entity Identification Number ITDREIN The same can be generated by logging in to the e filing website https incometaxindiaefiling gov in with the login ID used for the purpose of filing the Income Tax Return of the reporting person entity Entity having PAN can take only PAN based ITDREIN Entity having TAN can generate an ITDREIN only when such TAN s Organisational PAN is not available The registration of reporting person ITDREIN registration is mandatory only when at least one of the Transaction Type is reportable 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 Detailed procedure of ITDREIN registration and upload of Form 61A is available under the Help section and Form 61A utility and Schema are available under the download section of http www incometaxindiaefiling gov in and https www cleanmoney gov in Online filing of form 61A requires a valid class 2 or 3 digital signature certificate of person responsible for filing the same Please refer DSC Management Utility manual under help section on how to generate the signature file attaching the XML with signature and uploading of XML with signature file in e Filing portal
  • GST new scheme of classification of services

    GST NEW SCHEME OF CLASSIFICATION OF SERVICES 1 CONSTRUCTION SERVICES 2 DISTRIBUTIVE TRADE SERVICES A accomodation food beverage transport gas electricity services distribution 3 Financial Related Services real estate services rental loading services 4 Business Production services 5 Community social personal services other miscellaneous services Read more at http www caclubindia com share files files upload form asp
  • Statement of Financial Transaction

    SFTRA Sec 285BA SFT Forms Rule 114E of Income Tax Rules 1962
  • Understanding Annual Information Report (AIR)

    Filing of Statement of Financial Transaction SFT u s 285BA Form 61A
  • Net-Worth Calculation Worksheet - In Excel

    An important step in gaining financial control is to calculate your net worth assets debts Every year your net worth should be tabulated to review your progress and compare it with your financial goals In addition a net worth statement is a valuable aid in planning your estate and establishing a record for loan and insurance purposes

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Articles

How to be proactive on your potential financial problems?


Most of today s problems are yesterday s challenges overlooked It is always considered a wise thing to perceive problems before they arise and attend to them at the earliest By doing so you will be spared from the trouble you may have to undergo in the later stages Here are few pointers to assist yo


Focus areas of reports generated by software for filing returns


As we all know filing of numerous returns in the GST regime will be a cumbersome task which will be essential for claiming input tax credit because credit availment requires matching of outward supplies of the supplier and inward purchases of the purchaser on online portal The task will be tedious f


'Make In India' all set to confront the World Bank's Report


The governments frenetic effort to push the Ease of Doing Business in India has proved revolutionary The series of planned campaigns launched under Modi ship has proven the fact that There Has Never Been A Better Time To Make In India India by outstripping 60 countries secured a rank of 130th in the


Analysis of 37th Report Standing Committee on the Companies (Amendment) Bill, 2016


Standing Committee on Finance 2016 17 in Sixteenth Lok Sabha present most awaited 37th Report on The Companies Amendment Bill 2016 The Standing Committee considered and adopted this report at their sitting held on 30th November 2016 The Companies Amendment Bill 2016 was referred to the Standing Comm


Global Reporting Initiative(GRI) : Empowering Sustainable Decisions


Background on sustainability reporting In 1987 the World Commission on Environment and Development set out an aspirational goal of sustainable development describing it as development which meets the needs of the present without compromising the ability of future generations to meet their own needs


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Updated on : 5/28/2017 7:32:11 AM


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