Statement of Financial Transactions (SFT)-An In-depth Analysis
In order to monitor high-value transactions conducted by taxpayers, a significant regulatory measure was introduced with the inception of Form 61A under Section 285BA, effective from April 1, 2004, as per Notification No. 182/2005 dated July 11, 2005. This provision mandated reporting persons to furnish Annual Information Return (AIR) concerning specific financial transactions recorded or registered by them starting from […]
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