Hello everyone, I have downloaded form 26AS of one of my client... where I found data regarding 1. transaction type - SFT-005 2. Amount - 2000000 3. Mode - mixed.
Please let me know, what to do with this.
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Quick Summary
This discussion addresses queries regarding Form 26AS, specifically focusing on 'SFT-005' transaction types related to time deposits. It clarifies that transactions exceeding £10 lakh in value must be reported under SFT-005. Participants are advised to verify the source of funds for such transactions to be prepared for potential departmental inquiries.
Your client had made time deposits for Rs 20,00,000/- in FY for which you have downloaded form 26AS.. asked him source of fund so that while making any enquiries by department you can easily provide them information.