As we all are aware that, SFT reporting is one of the crucial compliances in today’s date. Due to COVID-19, the due date of SFT compliance has been extended from 31st May, 2020 to 31st March, 2021. Today I am writing this article by intention of helping my readers as a quick reference guide at the time of compliance with SFT.

1 How to Download the Utility

1. Log into e-filing portal (https://incometaxindiaefiling.gov.in ) and select Reporting Portal under My Account.

2. Click on the Utilities link under tab “Resources”.

3. It will lead us to “Downloads”. We can download the archive for Report Generation and Validation Utility – Form 61A. It allows the user to save the file in the location selected by the user.

2. Prerequisites for installing Report Generation Utility

1. Operating System should be Windows 7.1 and above

2. Download and install JRE version 1 .8 Update 101 or later from https://java.com/en/download/ Use tools like

3. Use tools like WinZip or WinRAR to extract the downloaded Report Generation Utility file.

3. Running the utility

1. Go to the folder where the contents of the Utility have been extracted.

2. Click on ITD_EFILING_FORM61A_PR1 .jar file. It displays the General Instructions window.

4. Preparation of SFT

1. Select the Transaction Type on General Instructions window

2. Capture Statement Details

3. Click on Export CSV button to download CSV Template

4. Save the CSV at desired location

5. Open the CSV file and fill the details by data entry or pasting values

6. Click on Import CSV button

7. Select the pre saved CSV from file system and then click on Open button to upload

5. Validation of SFT

1. Click on Validate button on the tool bar

2. Utility will display validation errors on Validation Tab

3. Click on Validation row to see details of Validation errors on the right window pane of screen

4. Click on any particular validation error from list, utility will show the field highlighted in red, where corrections can be made

5. Fix the errors and then click on Validate button again

6. If there are no validation errors, “Validation Successful” dialog box is displayed to the user.

6. Generation of SFT

1. Click on Generate XML button on the toolbar

2. If there are no validation errors, Utility will display Form Validation Successful dialog box Give the desired path where user wants to save XML on machine and click on save button

7. Other Features of the Utility

1. Export SFT Data in CSV file

2. Save Draft XML File

3. Open Saved XML File

4. Prepare NIL Statement

5. Prepare Correction Statement

8. Related Resources

1. Systems Notification specifying the procedures, data structures and standards

2. User Manual for ITDREIN Registration and Upload

3. SFT Report Generation Utility

4. SFT Report Generation Utility User Guide

5. Training Videos of Preparation, submission and rectification of Form 61A

6. Training Material of Preparation of Form 61A

Disclaimer: The contents of this article are for information purposes only and does not constitute advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer to relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up.  The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that Author / TaxGuru is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof. This is not any kind of advertisement or solicitation of work by a professional.

(Republished with Amendments by Team Taxguru)

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