SFT
This query is : Open
Sanket Shah
(Querist)
27 May 2017
what is the consequences of non submitting Form 61A. what if we got caught by assessment us 143(2) for the said transaction. Kindly explain the concept of penalty of non disclosure
CA CS Jainam Shah
(Expert)
27 May 2017
Penalty is as per follows:
1. Per day Rs. 100 for not filling SFT
2. Per day Rs 500 for not replying notice calling return
3. Rs 50000 for furnishing inaccurate information.
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Sanket Shah
(Querist)
27 May 2017
Thank you.
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