Great job done with view image shot

Dear sir/Madam,

Pls let me know,Regarding statement of financial Transctions -Form 61A filling & SUbmitting SFt Preliminary Response,should  I require to fill mandatorily Form 61A & SFT Preliminary Response for  company not covered under tax audit????

Regards,

Vijay

Sir, one more thing please clear, SFT required to fill only for cash sale of Rs2lak or more & purchase from single customer.

what is the statement number and original statement id in form 61a?

As per  I T Rules

114E. (1) The statement of financial transaction required to be furnished under sub-section (1) of section 285BA of the Act shall be furnished in respect of a financial year in Form No. 61A and shall be verified in the manner indicated therein.

(2) The statement referred to in sub-rule (1) shall be furnished by every person mentioned in column (3) of the Table below in respect of all the transactions of the nature and value specified in the corresponding entry in column (2) of the said Table in accordance with the provisions of sub-rule (3), which are registered or recorded by him on or after the 1st day of April, 2016,

So, for companies having no tax audit liability SFT reporting applicable for item no. 5,6 &7. For no specific transactions NIL statement is to be filed.

For details Refer: https://incometaxindia.gov.in/Rules/Income-Tax%20Rules/103120000000007545.htm

A.2.2 : Statement Number : Statement Number is a free text field capturing the sender’s unique identifying number (created by the sender) that identifies the particular Statement being sent. The identifier allows both the sender and receiver to identify the specific Statement later if questions or corrections arise. After successful submission of the Statement to ITD, a new unique Statement ID will be allotted for future reference. The reporting entities should maintain the
linkage between the Statement Number and Statement ID. Example of the statement number is 2015/01.

A.2.3 : Original Statement Id: Statement ID of the original Statement which is being replaced deleted or referred by reports in the current Statement. In case
the Statement is new and unrelated to any previous Statement, mention ‘0’ here.

Originally posted by : Ashim kr Ray
	Sir, one more thing please clear, SFT required to fill only for cash sale of Rs2lak or more & purchase from single customer.

For individuals, having tax audit liability, the SFT is required to be filed for code: SFT 013: reporting any cash receipts from any person of rs. 2 lakhs or more in single day. (may be for single sell bill or aggregate of bills)

For others, there are different criteria for SFT reporting.

@ Dhirajlal ji    : "For no specific transactions NIL statement is to be filed" ??

Yes Surana Ji, that is what department expects from the assessees, from this year!!!

There is also option to file 'NO DATA' under utility preparation for form 61A

Dhirajlal ji there are many options in MANAGE ITDREIN

TYPE FORM 61B, FORM 61, FORM15CC, FORM61A, FORMV ..... so for SFT only FORM61A is required.. right ? or any other FORM also needed for Companies?

And in Category the option COMPANY is not there even in FORM61A, so maybe OTHER is the option for it too...

so for companies having no tax audit liability which form other then 61A needs to be responsed? or it is same just Form 61A?

It is the same form 61A for SFT reporting, for every person, including company/bank/individuals etc.

But the filled form 61A in X M L formate is to be uploaded.

Read:  Rule 114E. (1) The statement of financial transaction required to be furnished under sub-section (1) of section 285BA of the Act shall be furnished in respect of a financial year in Form No. 61A 

SFT- 013: Cash payment for goods and services

Dear Sir,

I would like to know that Form No.61A is require to file in cash sales above Rs.2 lac before 1st June 2016 ? If the seller doesn't have any details like name, address, PAN of the purchaser then what is the remeday ?

Sir, will SFT to be filed, by the person who has made cash withdrawl from his bank account of more than 2 lakhs in a day?

Originally posted by : Dhirajlal Rambhia
	@ 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.

Dear Sir,

Also apart from filing of SFT Preliminary response ( for companies ), Nil statement also to be filed, if the company is eligible for any transaction, but there is no transaction for the same in the reporting year.