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Sft

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(Querist)
25 May 2017 Title:None,Content:Sir i want to know about the aggregation rule for cash payments received above 2,00,000 and above for sale of goods and services.  For example if there are number of bills on deferent dates for sale of goods to a single person.(aggregate amount is more than 200000 but no single bill is more than 20000). Aggregate amount of Cash received against these bills is more than 200000.(Cash is received on different dates. For one date cash received is less than 20000.)
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
25 May 2017 The norms of aggregation contained in sub-rule 3 of Rule 114E have been amended vide CBDT’s Notification No. 91/2016 dated 6th October, 2016; clearly indicating that the said transactions did not require aggregation and the reporting requirement under SFT for this purpose is on receipt of cash payment exceeding Rupees Two Lakh for sale of goods or services per transaction. Hence no aggregation rule apply. If no bill is more than Rs.200000/- then not required to report
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