Section 285BA of IT Act 1961
Rule 114E
Requires certain persons/entities to furnish a statement of specified financial transactions (‘SFT’) as mentioned in such Rule 114E.
Total 13 Transactions are there.
Applicability-
|
Sr. No |
Applicable to |
|
1,2,3,4, 11, 12 and 13 |
Banking company or co-operative bank (12 & 13 NA- Deals with Demonetization) |
|
8,9,10, 11 |
Trustees of MF, Foreign Exchange dealers, Registrars and Sub Registrars Respectively |
|
5,6,7,11 |
Co issuing bond/Deb, Shares, Co purchasing own Share |
|
11 |
Any Person Who is liable for audit u/s 44AB of the IT Act. Receipt of cash payment exceeding two lakh rupees for sale, by any person, of goods or services of any nature (other than those specified at Sl. Nos. 1 to 10 of this rule, if any.) |
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