How to file sft?

CA Chetan Vispute (Chartered Accountant ) (692 Points)

25 May 2018  

 

https://youtu.be/Va1NyCJxgiE

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)

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.)