Person not made cash sale of Rs 2 lac has to submit 61A?

Page no : 6

Sampath Kumar (9 Points)
Replied 24 May 2017

Here is ready-reckoner I came across.

Attached File : 1847310 20170524153031 ppt on submission of sft in form 61a.pdf downloaded: 276 times

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nidhi (c a practitioner) (68 Points)
Replied 25 May 2017

fROM TODAY u can file option NO in preliminary response without generating ITDREIN

1 Like

nidhi (c a practitioner) (68 Points)
Replied 25 May 2017

Now submit NO without generating ITDREIN in preliminary response sheet

nidhi (c a practitioner) (68 Points)
Replied 25 May 2017

No needed anymore to generate ITDREIN for option NO under preliminary response

nidhi (c a practitioner) (68 Points)
Replied 25 May 2017

I have a question that if there are 11 sales invoices of 20,000/- each to ONE PERSON IE SALES RS.2.20 lacs and i have received cash against each of them SEPERATELY ON DIFFERENT DATES then is SFT-13 applicable if a person is covered u/s 44AB

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SURANA (PROPRIETOR) (515 Points)
Replied 25 May 2017

Since there has been some changes recently ... so i checked my old response and now i can see NIL TRANSACTION in SFT 013, where i had selected NO while filing..

So the Selection NO is replaces by NIL TRANSACTION.

Maybe some more changes expected :) and extention of the Due date too ;)

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178406 Points)
Replied 25 May 2017

Originally posted by : nidhi
	I have a question that if there are 11 sales invoices of 20,000/- each to ONE PERSON IE SALES RS.2.20 lacs and i have received cash against each of them SEPERATELY ON DIFFERENT DATES then is SFT-13 applicable if a person is covered u/s 44AB

Theoretically Not applicable. But if all the 10/11 sales invoice are of same date, then that may create trouble.

CA Mayur Todmal (Practicing CA) (7756 Points)
Replied 25 May 2017

New Changes in perliminary response

CA Mayur Todmal (Practicing CA) (7756 Points)
Replied 25 May 2017

Shams (Consultant) (157 Points)
Replied 26 May 2017

Option NO has been changed to NIL TRANSACTIONS in SFT preliminary report.

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Statement of ‘high value financial transactions‘ is required to be furnished under section 285BA of the Income-tax Act, 1961 by ‘specified persons‘ in respect of ‘specified transactions‘ registered or recorded by them during the financial year. The ‘specified persons’ and the ‘specified transactions’ are listed in new Rule 114E of the Income-tax Rules, 1962. In case of individual i.e. Any person who is liable for audit under section 44AB of the Act: He has to report: Receipt of cash payment exceeding Rs. 2,00,000 for sale of goods or providing services of any nature other than those specified So, if the assessee has not received any cash as mentioned above, he should reply to the notice accordingly. Here in this mail it is clearly stated: You are requested to submit the "SFT Preliminary Response" under compliance section post login to eFiling portal.

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