Quick Summary
In a recent development, the Central Board of Direct Taxes (CBDT) has issued a directive to Self-Reporting Organizations (SROs) urging them to furnish comprehensive details of high-value transactions conducted during the fiscal year 2022-23. The deadline for submission has been set for June 30. The SROs encompass a spectrum of entities ranging from banks, post offices, cooperatives, fintech firms, to mutual fund houses. Transactions surpassing the threshold of Rs 50 lakh, share transactions e
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The deadline for submitting details of high-value transactions for the fiscal year 2022-23 is June 30.
SROs include entities such as banks, post offices, cooperatives, fintech firms, and mutual fund houses.
Transactions exceeding Rs 50 lakh, share transactions over Rs 10 lakh, and post office transactions of Rs 5 lakh or more need to be reported.
Approximately 6,000 reporting entities have either not submitted the required information, provided incomplete data, or submitted it in the wrong format.
Reporting authorities must disclose information regarding high-value transactions using Form 61A, the Statement of Financial Transaction.
CAclubindia
