Procedure for registration and submission of SFT u/s 285BA under Rule 114E modified DGIT(S)/ADG(S)-2/Reporting Portal/2017/180 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 3 of 2018 New Delhi,5th April, 2018 Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA… Read More »
Held It is an acknowledged and judicially recognized fact that the tax laws of this country are complex and complicated and often require for compliance, therewith the assistance of tax practitioners specialising in this field, is a well known fact, and it is equally well known fact that the legislation in this field undergoes so… Read More »
Central Board of Direct Taxes Notification no 4/ 2016 Procedure for Registration and Submission of Statement under Section 285BA(1)(k) read with Rule 114G (7) of Income tax Rules 1962
Financial transaction or Reportable account Under Income tax Act 1961 [previously called as ‘Annual Information Return (AIR) ] What is statement of financial transaction or reportable account (previously called as ‘Annual Information Return (AIR)’? As per section 285BA of the Income-tax Act, 1961 (as substituted by Finance Act, 2014 w.e.f. 01-04-2015), specified entities (Filers) are… Read More »