Section 271FAA

Statement of Financial Transaction (Due date 30th June, 2020)

Income Tax - Article explains about Furnishing of Statement of Financial Transaction [Rule 114E], Non Furnishing/Defective Furnishing of SFT (Section 285BA) , Opportunity by Income Tax Authority to rectify defect, Notice in case of non-furnishing of SFT,  Opportunity to rectify defect within 10 days,  Penalty for failure to furnish statement of fina...

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Penalty for providing inaccurate statement of financial transaction or reportable account- Section 271FAA

Income Tax - The provisions of section 271FAA of the Income Tax Act applies in case the specified person furnishes inaccurate statement of the financial transactions / reportable account as prescribed under section 285BA of the Income Tax Act. The provision of section 285BA mandates the specified person to furnish the statement of financial transactio...

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Recent Posts in "Section 271FAA"

Statement of Financial Transaction (Due date 30th June, 2020)

Article explains about Furnishing of Statement of Financial Transaction [Rule 114E], Non Furnishing/Defective Furnishing of SFT (Section 285BA) , Opportunity by Income Tax Authority to rectify defect, Notice in case of non-furnishing of SFT,  Opportunity to rectify defect within 10 days,  Penalty for failure to furnish statement of fina...

Read More
Posted Under: Income Tax |

Penalty for providing inaccurate statement of financial transaction or reportable account- Section 271FAA

The provisions of section 271FAA of the Income Tax Act applies in case the specified person furnishes inaccurate statement of the financial transactions / reportable account as prescribed under section 285BA of the Income Tax Act. The provision of section 285BA mandates the specified person to furnish the statement of financial transactio...

Read More
Posted Under: Income Tax |

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