SFT TRANSACTION
This query is : Resolved
10 October 2020
Hai Dear Friends Good Evening.
One Of My Client Who Is working as consultant In an MNC.Now While filing his income tax Returns In Form 26as we find out that SFT Transaction Of Approx 13lakhs For Credit card Payment.
Kindly Share Your Valuable Advise Weather Is It Disclosed While Filing Income tax Return Or Any Special Treatment For the above mentioned Transaction.
If Need to be Disclose under which Transaction It show?
Kindly Guide Me For Further Process.
Pls Elaborate If Possible Regarding SFT Transaction.
Thanking You All.
One Of My Client Who Is working as consultant In an MNC.Now While filing his income tax Returns In Form 26as we find out that SFT Transaction Of Approx 13lakhs For Credit card Payment.
Kindly Share Your Valuable Advise Weather Is It Disclosed While Filing Income tax Return Or Any Special Treatment For the above mentioned Transaction.
If Need to be Disclose under which Transaction It show?
Kindly Guide Me For Further Process.
Pls Elaborate If Possible Regarding SFT Transaction.
Thanking You All.
10 October 2020
No need for any disclosure on such payment. Income disclosed in the ITR should be commensurate with such spending.
10 October 2020
IT DEP IS GIVING YOU THE INFORMANTION IN FORM 26AS SO AS WHEN YOU FILL YOUR ITR YOU KNOW ABOUT UR SPENDING AND DEPOSITS SHOULD BE COVER UNDER YOUR ANNUAL RETURN
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