Rule 114e urgent

No... Not required to file SFE. SFE is liable to file only if it is applicable.

No.....Not required

There is lots of confusion going on about filing of nil SFT return. Legally speaking there is no requirement to file nil SFT return but department personnel hold contrary view. Even CPC requires filing of nil declaration. Clarification from CBDT is awaited.

if the person first time liable to tax audit whether Sft is liable to this type of assessee

and also tell me if the person receive amount more than 2 Lacs for the opening balance I.e-1-4-2016 it's also applicable sft this type of transaction

@ Poltu Ghosh : But the last date is 31st may, 2017. When CBDT will clarify it?

Dear Member,

it myadvice Kindly file the SFT  nil return its not mandatory but  it is  optional only but saf side nil return should file 

 

It is compulsory to file form 61a even you dont have any transaction if you are liable to do audit under section 44AB. So u need to file form 61a

Dear Mr. Rahil, you might be aware about CBDT's style of clarification since its inception. Don't be surprised if board clarifies on 31st May night at 11:59. 2 or 3 years back the board extended the tax Audit report date on 01st Oct. You might be unaware but it happens only in India.

Dear CA Kumar Parmar, if we accept your logic that filing of 61A is compulsory even if there is no transaction then please tell us what is the meaning of the threshold limits prescribed in the rule. Consider a situation where a person receives cash of more than Rs. 200000, a person receives less than Rs 200000 and a person who did not receive any amount in cash. Is not there any difference. A person who did not receive any cash falls in the category of a person who receives less than Rs 200000.
Remember filing of nil statement in 61A is not compulsory. It is the department wishes to file nil statement voluntarily even if not liable under the law.