What is * 61 * used for?

Number 1*#61# — Call Forwarding When Unanswered

With the *#61# settings interrogation code, you can see if calls are being forwarded to another number whenever they go unanswered. If the "Voice Call Forwarding" and "Data Call Forwarding" say they're disabled, that's good.

What is form of 61?

What is Form 61. This is a form of declaration that is to be filled by an individual who receives income solely from agriculture and is not the recipient of any other income that is taxable, with respect to transactions mentioned in Clauses (a) to (h) Rule 114B.

How do I file Form 61A?

Step 1 – Visit designated e-filing portal. Step 2 – Login to the portal with the help of User ID, authorised PAN and Password. Step 3 – Navigate to e-file and upload Form 61A. Step 4 – Once uploaded, details like – reporting entity PAN, Form Name and reporting entity Category will be displayed on the screen.

What is Form 61A of income tax?

Form 61A is a statement of Specified Financial Transactions that needs to be submitted by a notified taxpayer for the applicable financial year. Form 61A is generated under Section 285 BA of Income Tax Act, 1961 read with Rule 114E of Income Tax rules, 1962.

What is Rule 114B of income tax?

In case an individual who enters into any transactions mentioned in Rule 114B is a minor and does not have an income that is chargeable to income tax, he/she will have to quote the permanent account number of his/her father/mother/guardian in the document pertaining to the transaction.

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What is Rule 7 of income tax?

Rule 7 provides that for disintegrating a composite business income which is partially agricultural and partially non-agricultural, the 'market value' of any agricultural produce, raised by the assessee or received by him as rent in kind and utilised as raw material in his business, is deducted.

What is Rule 9D of income tax?

Government of India have inserted Rule 9D in the Income Tax Rules 1962 for calculation of taxable interest relating to contribution in a provident fund/or recognised provident fund exceeding specified limit.

Who is required to furnish form 61?

Individuals who receive income solely from agriculture and are not the recipients of any other income that is taxable should fill Form 61 if they do not possess PAN card. PAN card Form 61 is issued by Income Tax Department of India under the supervision Central Board of Direct Taxes.

What is difference between form 61A and 61B?

1. Who is a Reporting Entity? Reporting Entity or Reporting Person is an entity which is required to furnish a Statement of Financial Transaction (in Form 61 A) or Statement of Reportable Account (in Form 61B) with the Income tax Department as per the provisions of section 285BA of the Income-tax Act 1961.

Is it mandatory to file form 61A?

rule 114E of the Income Tax Rules, 1962 specifies that the statement of financial transaction required to be furnished under sub-section (1) of section 285BA of the Act shall be furnished in Form No. 61A​. It is the not mandatory to file NIL statement of Financial Transaction (Form 61A).

What is the penalty for not filing form 61A?

DEFAULT IN FILING FORM 61A SUBSEQUENT TO A NOTICE RECEIVED FROM DEPARTMENT U/S 285BA (5):If after receipt of notice for non-filing of Form 61A, further default is made in filing 61A then after that, penalty @ 1000 per day shall be leviable for such further delay.

What is the penalty for SFT form 61A?

If a person required to furnish a statement of financial transaction under section 285BA fails to furnish such statement : Within the time prescribed - Such person shall liable to pay the penalty u/s 271FA of Rs. 500 for every day during which such failure continues.

Who is liable for SFT return?

(1) Any person, being— (a) an assessee; or (b) the prescribed person in the case of an office of Government; or (c) a local authority or other public body or association; or (d) the Registrar or Sub-Registrar under the Registration Act, 1908 ...

What is special about 61?

a unique prime in base 14, since no other prime has a 6-digit period in base 14. a Pillai prime since 8! + 1 is divisible by 61 but 61 is not one more than a multiple of 8. a Keith number, because it recurs in a Fibonacci-like sequence started from its base 10 digits: 6, 1, 7, 8, 15, 23, 38, 61...

How do you spell 61 in words?

61 in words is written as Sixty One.

Is 61 a prime number?

Yes, 61 is a prime number.

If the number has more than 2 factors, then it is called a composite number.

Who is required to furnish Form 61B?

Any person/entity required to furnish a Statement of Financial Transaction (STF) in Form 61A or Statement of Reportable Account in Form 61B with the Income Tax Department can be categorised as a Reporting Entity. Reporting entity thus includes the following: Banks (also RBI) Mutual Funds.

What is Form 61 61A and 61B?

The use of these forms are. Form 61 – Filing of details regarding form 60. Form 61B – Statement of Reportable Account under sub-section (1) section 285BA of the Income–tax Act, 1961. Form 15CC – Quarterly statement to be furnished by an authorised dealer in respect of remittances under rule 37BB of Income Tax Rules, ...

How do I file Form 61B for Income-tax?

➢ Click on Login → Enter “16 digit ITDREIN User ID” ➢ Enter Authorised person PAN ➢ Enter Password ➢ Navigate to tab “e-File” → Click on upload Form 61B ➢ Select the “Calendar Year” from the drop down provided ➢ Select the “Type of Filing” from the drop down provided o Original Form 61B o Correction Form 61B o Submit ...

Why is form 61 needed?

Form 61 refers to the document that is duly filled by the individual who receives income from agriculture and who does not obtain income that is chargeable to income tax. Moreover, those individuals who do not possess PAN have to submit Form 61 when making any financial transactions.

What is form 61 for SFT?

Form 61A or Statement of Financial Transactions (STF) is a record of the statement of specified financial transactions which must be furnished under the Income Tax Act, 1961. In this article, we look at Form 61A in detail. Know more about Statement of Financial Transactions.

What is the difference between form 60 and 61?

Form 60 is required to be filed in cases where a person enters into any of the transactions mentioned above but does not have a PAN card. Form 61 is required to be furnished in case a person who has agricultural income and is not in receipt of any other income chargeable to income tax.

What is Rule 10D?

10D (1) (g) A record of the uncontrolled transactions taken into account for analysing their comparability. with the international transactions entered into, including a record of the nature, terms and. conditions relating to any uncontrolled transaction with third parties which may be of relevance to.

What is Rule 11d?

Suppose, the person who is undergoing the medical treatment is a senior citizen then the taxpayer would be eligible for a tax deduction of Rs. 1,00,000 or the actual amount that has been incurred as medical expenditure whichever is less.

Which tax form do you use if your income is <$ 100000?

You could use Form 1040-EZ if all of the following apply: You are filing as single or married filing jointly. Your taxable income is less than $100,000.