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...

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...

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...

Posted Under: Income Tax |

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