SFT 004 IN 26 AS

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accounts
178 Points Posted on 08 December 2020
dear
sir
one of my Clint have sft-004 in 26AS AMOUNT 1896200 AND NOW WHERE to show in itr
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On 08 December 2020 at 23:14 Report
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Quick Summary
This discussion clarifies how to handle SFT-004 entries in your 26AS, particularly when the amount relates to a house purchase. The advice is to file your Income Tax Return (ITR) as you normally would. The key is that the property purchase, even if financed with cash deposits, has likely already been reported to the department by the registrar. Ensure your reported turnover in the ITR matches or exceeds the SFT-004 amount if it's from a business source, or report it under the appropriate head like capital gains or exempt income otherwise.

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Tax consultant
5895 Points Posted on 08 December 2020
Just file your return as normal as you file in the previous
but where's he investment that money??
I mean that money showing in 26 as is for?
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On 08 December 2020 at 23:52
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accounts
178 Points Posted on 09 December 2020

Madam 

That money he purchased one house

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On 09 December 2020 at 00:01
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accounts
178 Points Posted on 09 December 2020

Madam 

That money he purchased one house

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On 09 December 2020 at 00:01
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Tax consultant
5895 Points Posted on 09 December 2020

Ok just fill the return normal wise as previously you filled

Nothing to worry as the purchase of house of that amount already being  reported to the department by the registerar

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On 09 December 2020 at 00:43
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12244 Points Posted on 09 December 2020
Mr. subramaniam, SFT 004 is for cash deposits made in accounts other than current accounts. so make sure that, your turnover reported in ITR is equal to OR more than rs 1896200, if your source of income is business. if not, you have to report it under the respective columns such as capital gains or exempt income depending upon the nature and source of cash deposits
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On 09 December 2020 at 09:04
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accounts
178 Points Posted on 09 December 2020
Sir
he taken credit some other person for purchase a house and he is commission agent of medical distributor
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On 09 December 2020 at 10:23
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Tax consultant
5895 Points Posted on 09 December 2020

Sir as I say you filled like as usual sir 

Sir even if the  amount not shown in 26As

You have to file his itr as per the adjustment of cash from previous and current as well his credit begin the person purchase a house 

And reporting in ITR will be in same way sir 

And you report the credit amount he takes in the same way sir 

Nothing will change sir ITR filling will be same as usual as before when a person purchase a land ,house  or falt 

Keeping the credit amount in veiw

 

 

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On 09 December 2020 at 12:10

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