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Is sft madatory
Is SFT mandatory if no transaction is exceeding the limit???
Replies (1)
This is optional to FIle form 61A in case you don't have such specified transactions.
Report Utility provides the option of preparation of NIL Statement but it nowhere talks of Compulsion to file Nil statement. Extract of the same is as follows:-
“ 7.4 Preparation of NIL Statement
Utility allows user to generate SFT (XML) with no financial transactions in it. This functionality is useful when Reporting Entity has no financial transaction to report.
1. Fill required information in Statement (Part A) and select ND (No Data) from Statement Type drop down field.
2. Save XML to desired location on machine.”
Thanks & Regards
Piyush Tanwar
CA Finalist & Internal Auditor
Mobile - 9717468521
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