Form 61A
Form 61A PDF is a statement of Specified Financial Transactions that need 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.
This statement for the previous FY (financial year) needs to be furnished within May 31st every year. In case an assessee is not able to do so, the authorities would issue a notice to such an assessee, demanding the assessee to submit the form within 30 days from the issuance of such notice. In case such assessee continues to be the assessee in default by not answering to such notice, a penalty would be levied on the assessee that would amount to INR 500/day of such default. This penalty would be calculated from the expiry of the period as stipulated in such notice.
You can download the Form 61A in PDF format online from the link given below.
