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Form 61a

CMA Swati Agarwal (Manager- F&A) (371 Points)

23 May 2017

If we don't have any transactions during the FY then also Form 61a to be filed, i.e should we file Nil Statement return ?

Thanks in advance

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48 Replies

Piyush Tanwar (Assistant Manager - Accounts) (1432 Points)
Replied 23 May 2017

@ CMA Swati Agarwal

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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(Guest)

U can join the discussion about whether it is mandatory to file response at following link

/forum/person-not-made-cash-sale-of-rs-2-lac-has-to-submit-61a--391120.asp

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 23 May 2017

@ CA Madhvi Pandit: It is most important issue presently, but the moderators have blocked it (the referred thread) for its length. May be a new thread needs to be started!!

(Guest)

Thats unfortunate. I didn't realise it as I received all the replies in my mail. I checked it now.

I have tried filing 'NO' response creating only ITDREIN without adding authorised person. I was able to file preliminary response "No".

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 23 May 2017

@ CA Madhvi Pandit: That is good part, even Mr Surana suggested the same thing. But did you get transaction ID for the submission of the SFT report?

If yes, you may give the process of reporting the SFT complience, without filing form 61a, in a new thread, it will be really helpful to many.

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(Guest)

Yes, transaction Number is generated for SFT preliminary response . It is visible when I click on 'view SFT pr response'.

1 created ITDREIN (did not add authorised person)

2. went to preliminary response under compliance

3. selected "not app" for all, except SFT-013 (selected 'NO' for SFT 13)

4. selected ITDREIN in the same screen and clicked on submit.

We can add authorised person without digital signature.

I am not sure if the response I have submitted (without authorised person) would be valid or not.

I have done this as a test case for my own PAN.

2 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 23 May 2017

" I am not sure if the response I have submitted (without authorised person) would be valid or not."

1. When submitted for proprietorship concern, after login from proprietor's PAN No., no more authorised person would be needed.

2. When Transaction ID of response to SFT is generated, (Confirmation must have been received by email) your respnse has been submitted, may be partly.

Very easy way to respond without form 61a, and DSC, for NIL data.

Only thing the department should accept it without form, and should not declare it 'incomplete/defective'!!

Thanks CA Madhvi Pandit for the clarification, on behalf of all.

1 Like

Ashim kr Ray (social service) (1695 Points)
Replied 23 May 2017

Sir

I want to know the process at first 1. I have to generate ITDREIN whithout adding authorised person. 2. I have to go to preliminary response STF -013 and to selected and have to submitted , am i corrected or something left .

SURANA (PROPRIETOR) (515 Points)
Replied 23 May 2017

Well i think there is issue with the CACLUBINDIA FORUM itself... that other Link with more then 7 pages is now on 8th page but the option to go on 8th page is not available to me atleast.. but i tried to change the link manually and jumped to page 8 and can see the latest post there...

/forum/details.asp?mod_id=391120&offset=8

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 23 May 2017

@ Ashim kr Ray:

Check the steps as suggested by CA Madhvi Pandit, as per her earlier post; & just repeat it.

But this will be applied only for propritorship or Individual files. (For partnership firm ....etc. Authorised signatory will be required). I will repeat for details:

1. Generate ITDREIN first (after login to individual PAN); by clicking 'My Account' ; Sub-tab 'Manage ITDREIN' Fill in details like Form61a etc.

2. An ITDREIN code will be generated. Now Under Compliace tab click SFT Primary Response.

3. The form is to be filled. For most of the raws it will be Not Applicable.; except for SFT013,. Select NO (for no transaction during the period; ONLY).

4. Click Submit, after selecting the ITDREIN in the second raw, as the one generated before.

5. A massage of Transaction ID number as confirmation of the receipt of the SFT Primary Response will be displayed.

All the best.

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Ashim kr Ray (social service) (1695 Points)
Replied 23 May 2017

CAclubindia is good platform to share an view the thought an idea, which helps new comer tremendously to clear there doubt, but for long thread it was block which is not Good at all.

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SURANA (PROPRIETOR) (515 Points)
Replied 23 May 2017

This is what I have done… but I am not sure if this is right process :)

this is only for the Cases of SFT 013 and NILL REPORTING... and if there are any transaction to be reported under SFT 013 then the process will change...(which i did not try yet)

PRINT SCREEN FOR EACH STEP ATTACHED HEREWITH IN PDF FILE

Go to MANAGE ITDREIN
Click GENERATE NEW ITDREIN
Select the Type & Category and click GENERATE ITDREIN
Clink OK to proceed
You can see S.No. 1 with new ITDREIN created
Now go to COMPLIANCE and select SFT PRELIMINARY RESPONSE
Select the ITDREIN from the drop down list
Select the Reportable Transaction from YES / NO / NOT APPLICABLE
Submit it once all transaction are selected
Note down the Transaction ID or Print Screen the page for Reference
You can also see your response under COMPLIANCE – VIEW SFT RESPONSE
Click the Transaction ID to check the response you have reported.

Attached File : 453905 20170523182711 sft preliminary response.pdf downloaded: 185 times

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 23 May 2017

@ Mr. Surana: Extreamly helpful screenshots. Good Job. Well done.

BUT...............BUT .............This is useful only in case of Individuals (under Tax audits in prev. year) having NIL CASH TRANSACTIONS as per SFT 013. (& no other reporting applicable)

For different options, either it will not be accepted................ or will be rejected on later date............ So be careful.

Good Luck to all.

2 Like