PLEASE TAKE NOTE OF RULE 114B114C of the Income-tax Rules, 1962!

If you are a Banking Company or Co-operative Bank or NBFC, Trustee of Mutual Fund, SRO, RTO, a Depository Participant or Custodian of Securities, Stock Broker, Share Transfer Agent, Broker to an issue, Merchant Banker, Portfolio Manager, Investment Advisor, a trader of goods or a service provider (with turnover exceeding Rs. 1 crore or professional receipt exceeding Rs, 25 lakh during F.Y. 2016-17), Foreign Tour Operator or a Foreign Exchange Dealer and If you have accepted payments between 01.09.2016 and 31.03.2017 of Rs. 50,000Rs. 10,00,000 without quoting PAN of the Payee/Depositor then, you are required to get yourself registered and file Form 61.

Last Date for Online Submission of details of Cash Transactions mentioned below is 30th APRIL, 2017

Transaction Details

Amount Transaction
Exceeding Rs. 50,000/- 1. Payment in cash to hotels or restaurant against a bill or bill at any one time
2. Payment in cash for foreign travel or purchase of foreign exchange
3. payment to a mutual Fund for unit purchase
4. payment for acquiring bounds or debenture issued by a company or institution
5. payment to RBI for acquiring Bonds issued by RBI
6. Deposit with banking company or a co-operative bank in a day
7. payment in a day for purchase of bank drafts or pay order or bankers cheque
8. Time deposit in a day with

(i) Banking company or a co-operative bank

(ii) Post Office

(iii) A Nidhi

(iv) NBFC

9. Pre-paid payment document as defined by RBI
10. Payment as Life Insurance premium in a year
Exceeding Rs. 1 Lakh Per transaction 1. Contract for sale or purchase of securities (other than shares)

2. Sale or purchase of share of utilised companies

Exceeding Rs. 2 Lakh Per transaction Sale or purchase by any person of goods or services of any nature
Exceeding Rs. 10 Lakh or valued by stamp valuing authority

Sale or purchase by any person of any immovable property

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3 responses to “Cash Transactions for which details needs to submitted by 30.04.2017”

  1. Vivek says:

    Please mention under which secion/rule above online submission is to be made before 30-April-2017. As per section 285BA read with rule no.114E, the date for furnishing SFT is 31 May.

  2. SALMAN says:

    What if during the whole Financial Year 2016-17 i have accepted cash more than Rs. 2 lakhs in aggregate against Cash Sales. Do i need to File Form 61A

    • CS Mahesh says:

      Nope ,Its specifically written down that payment accepted between 01.09.16 to 31.03.2017, so no need to take transactions for whole year ,left cash receipts for 01.04.16 -31.08.16 .

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