Applicability of SFT
This query is : Open
26 May 2017
Whether every person having Tax Audit has to file Statement of Financial Transactions or not?
CA Rashmi Gandhi
(Expert)
26 May 2017
Not every those who have receipt from sale of goods/services of more than Rs.200000/- per transaction is required to file SFT.
CA CS Jainam Shah
(Expert)
26 May 2017
It is advisable to file SFT as the IT department has provided option for filling SFT for NIL transactions.
26 May 2017
Thank you
Submitting SFT Preliminary response is enough for nil transactions or we have to submit Form 61A
CA CS Jainam Shah
(Expert)
26 May 2017
No. Submitting preliminary response will be enough. No need to file form 61A
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