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Failure to furnish SFT Further, if no report is furnished even within the extended due date specified in the notice served upon the person, a penalty of Rs 1,000 per day will be levied from the day immediately following the day on which the specified time in the notice expires.

Types of Deposits ? 4 Types of Bank Deposits Explained Current Account. Recurring Deposit Account, and. Fixed Deposit Accounts.

Types of Deposits Savings Bank Account. Current Deposit Account. Fixed Deposit Account. Recurring Deposit Account.

There are two main types of deposits: demand and time. Demand deposit: A demand deposit is a conventional bank and savings account. ... Time deposits: Time deposits are those with a fixed time and usually pay a fixed interest rate, like a certificate of deposit (CD).

With the help of statement of financial transaction or reportable account the tax authorities collect information on certain prescribed high value transactions undertaken by a person during the year.

Banks must report cash deposits totaling $10,000 or more If you're headed to the bank to deposit $50, $800, or even $1,000 in cash, you can go about your affairs as usual. But the deposit will be reported if you're depositing a large chunk of cash totaling over $10,000.

Companies need to know about SFT Compliance Reporting personNature of transactionsInformation Required for SFT ReturnThe Company other than unlisted CompaniesBuyback of shares from any person (other than the shares bought in the open market)? PAN ? Aadhar ? Address Proof ? Form SH 115 more rows ? 22-Jan-2022