The Directorate of Income Tax (Intelligence and Criminal Investigation) organised an outreach programme in Delhi to educate the traders about the filling of return of Statement of Financial Transaction (SFT).
The programme was organised along with Federation of Delhi Textiles Merchants August 31 to bring clarity about the filing of return of Statement of Financial Transaction where the sale of any goods or services have been made in cash amounting to Rs. 2 lakh or more. The event was organized with the intent to make traders aware of their duty to file the statement and to resolve their problems as far as the filling of return of SFT is concerned.
Besides SFT, other matters relating to day to day problems of taxation faced by the traders were also discussed. The purpose of the outreach program was also to gather the information about the entities which were engaged in a high-value cash transaction.
Director General of Income Tax (I and CI) has been conducting numerous Outreach Programmes all over the country to educate the traders and other institutions that fall within the ambit of this new provision of the Income Tax Act.
Senior officers from Income Tax Department, Delhi including Deepa, ADIT (I and CI), Jagpal Singh, ADIT (I and CI), Gianender, Income Tax Officer (ITO) were present during the programme which was also attended by many traders and businessman.
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