DON’T MISS THE DEADLINE of  31st May 2018 to file Statement of Financial Transactions (SFTs)  Online in Form No. 61A for specified financial transactions entered with third parties during F.Y. 2017-18

IF YOU ARE

  •  Sub-registrar
  • A Cooperative Bank
  • A Banking Company
  • NBFC
  • Nidhi
  • Post Master General
  • Issuer of Bonds/debentures/shares
  • Trustee of Mutual Funds or Managing the Affairs of Mutual Fund
  • Foreign Exchange Dealer
  • Supplier of Goods or Services (whose accounts a re required to be audited U/s. 44AB of the Income Tax Act, 1961)

THEN    YOU  ARE required to file online statement of  Specified Financial Transactions  (SFT) in Form No. 61A for these transactions entered with third parties during F.Y. 2017-18

Total Value of Transaction
Nature of Transaction Total Value of Transaction Nature of Transition
Rs. 1 Lakh or More Payment in cash again/ Credit Card Bill  Rs. 10 Lakh or more (at one time or aggregating in respect of a person during F.Y. 2017-18)

 

 

Payment in cash for purchasing Bank Draft / Pay Order/ Bankers Cheque/ Pre-Paid Instruments issued by RBI
 Exceeding Rs. 2 Lakh Receipt in cash by any person against purchase of goods or Service of any nature
Exceeding Rs. 30 Lakh or more (Or Valued by Stamp Valuing Authority at Rs. 30 lakh or more)

 

Purchase or sale of Immovable property Cash deposit in one or more accounts (other than current account and time deposit)
Time Deposit
Payment against Credit Card by any mode other than Cash
Receipt from any person for acquiring units of one or more schemes of a Mutual Fund, bonds/ debentures/share issued by the company.
Rs. 50 Lakh or More Cash deposit / withdrawal from one or more current account of a person in a financial yea!
Bay hack of shares from any person
Receipts for sale of foreign exchange

For registration and submission visit https://report.insight.gov.in/reporting-webapp/portal/homePage . However, Post Offices and Sub-Registrars can submit their statements to TIN facilitation centers; details are available, at www.tin-nsdl con]

Please Note-

  • For delay in filing SFT, you are liable for penalty upto Rs. 1000/- for each day of default.
  • Filing inaccurate statement may also lead to levy of penalty.

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6 responses to “File Statement of Financial Transactions (Form 61A) by 31st May”

  1. RAJESH CHHAPARIA says:

    The site did not function for the entire day on 31.05.2018 and today when it finally sprang back to life, the upload option has been disabled. Emails sent yesterday for the dead site remain unanswered. This is what is called “T(EASE) OF DOING BUSINESS”.

  2. simith says:

    i register in reporting portal with wrong entity name , then i cant able to edit those name what to do now

  3. SUNIL says:

    Hi,
    my question is we are pvt. co. and not above Rs. 1 lakh (1 transition),
    can i file 16a?

    • HIMANSHU AGGARWAL says:

      In my view filing of Nil Statement in form No. 61A is not mandatory under section 285BA read with rule 114E. Further to maintain consistency, Assessee who has filed Annual Information Return for F.Y. 2016-17 may consider filing such return for F.Y. 2017-18 too despite no specified transaction in F.Y. 2017-18.

  4. sachin patil says:

    I am trying to file form 61 A from April 2018 but till date the the site is not working on it. When we fill Form 61 A it doesnt get submitted and new ITDREN registration is also not working it only shows Form 15cc an Form V….

  5. Vinay says:

    I am having few question with regard to this:
    We have received funds from a foreign individual for more than 10L in exchange of shares.
    Q1. I shall ask for Form 60 from the individual? (since he does not have PAN)
    Q2. Since i have received Form 60 i shall be liable to file form 61?
    Q3. Amount received is more than 10L then we shall be also liable to file Form 61A?
    Q4. Reporting portal is having issue with respect to login?

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