Form 61a
Puneet Goel (Executive) (23 Points)
23 May 2017Puneet Goel (Executive) (23 Points)
23 May 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(175671 Points)
Replied 23 May 2017
Theoretically, a receipt of cash of Rs. 200000/- and above (per day, per person) is covered in form 61A.
CA S Praveen Kumar Reddy
(Chartered Accountant)
(2195 Points)
Replied 23 May 2017
Ashok J
(CA Final)
(880 Points)
Replied 23 May 2017
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 23 May 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(175671 Points)
Replied 24 May 2017
SFT- 013: Cash payment for goods and services
Transaction Code |
SFT-013 |
Transaction Descripttion |
Cash payments for goods and services. |
Nature and value of transaction |
Receipt of cash payment exceeding two lakh rupees for sale, by any person, of goods or services of any nature (other than those specified at Sl. Nos. 1 to 10 of Rule 114E) |
Class of person required to furnish |
Any person who is liable for audit under section 44AB of the Act. |
Remarks |
1. For sale or purchase, by any person, of goods or services of any nature it is obligatory to quote PAN for amount exceeding two lakh rupees per transaction: (refer Rule 114B) |
2. The aggregation rule is not applicable for identification of reportable transactions |
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3. The relevant reporting format is Part A (Statement Details) and Part B (Report Details) |
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4. The Report Type should be specified as AF-Aggregated Financial Transactions (A.2.7). |
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5. The reporting format aggregates the transactions of one person in one report |
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6. One report would include details of one person along with transaction details |
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7. The Product Type should be specified as ZZ –Others (B.3.1) |
CA Sagar Upadhyay
(Chartered Accountant)
(38 Points)
Replied 24 May 2017
One has not required to consider the receipt in aggregation it should be seen as per transaction. It can be seen from below given link of CBDT. Go through it.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India