" i.e. we are not covered under any of the SFT Code, is it compulsory for us to give SFT Preliminary Response?"
Yes, if any of the criteria is applicable, even though no transactions for reporting.
Does a transaction of sale of an old car for cash Rs. 2.5 lakh attracts owners liability to file Form 61A ?
(owner of car is not in a business of sale and purchase of cars)
@ Palash: Yes, if the owner is liable for tax audit u/s. 44AB and the car was business asset.
CAclubindia
