SFT

Obligation to Furnish Statement of Financial Transaction (SFT) or Reportable Account Under Provisions of Section 285BA of the Income Tax Act, 1961

Income Tax - The person required to furnish details in the Form 61A according to the provisions of Rule 114E, the same shall be furnished to the Director of Income Tax (Intelligence and Criminal Investigation) or the Joint director of Income Tax (Intelligence and Criminal Investigation) through online....

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All About SFT- Information

Income Tax - Section 285BA- Requirements, Coverage and Procedure...

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All about SFT under Section 285BA read with Rule 114E of the Income Tax Act 1961

Income Tax - The Rule 114E prescribed under the reporting transactions and persons that need to file such records to Director/Joint director of Income Tax (Intelligence and Criminal Investigation).The same is produced below in a synopsis manner to help the reader to get a broad idea of the provisions and rules....

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Form 61A- Who is required to submit – An Infographic

Income Tax - Requirements of Filing Form 61-A for reporting entity has been made mandatory and the due date is May 31, 2017. Lets See with help of this chart who is required to Submit Form 61A and who is not required to submit the same and who are required to submit preliminary response under Section 285BA Read […]...

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High-Value Transactions Under Scanner

Income Tax - To keep a watch on high-value transactions by taxpayers, the I-T department has developed a statement of financial transactions called Annual Information Return (AIR). ...

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5.56 lakh new persons in 2nd phase of Operation Clean Money identified

Income Tax - Income Tax Department has used information received under Statement of Financial Transactions to identify 5.56 lakh new persons in second phase of Operation Clean Money....

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CBDT clarifies on SFT & SFT Preliminary Response Filing

Income Tax - Section 285BA of the Income-tax Act, 1961 requires furnishing of a statement of financial transaction (SFT) for transactions prescribed under Rule 114E of the Income-tax Rules, 1962. The due date for filing such SFT in Form 61A is 31st May 2017....

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Email on Statement of Financial transactions (SFT) filing by IT Dept.

Income Tax - Statement of Financial transactions (SFT) should be filed by all reporting persons covered under Rule 114E of Income-tax Rules, 1962. Due date for filing the same in Form 61A is 31 May 2017....

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Companies to furnish Statement of Financial Transactions to Income Tax Department

Income Tax - As per Rule 114E of the Income Tax Rules 1962, for and from 2016-­17, all companies have to be furnish SFT in respect of certain specified transactions as tabulated below:...

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Interest and Dividend reporting under Income Tax of Custodial A/cs

SEBI Circular No. CIR/HO/MIRSD/MIRSD2/CIR/P/2017/59 - (15/06/2017) - In terms of Rule 114G(1)(e)(i) of Income Tax Rules, 1962 issued under Section 285BA of Income Tax Act, 1961 following information is required to be reported by reporting financial institution in the case of reportable custodial account:-...

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SFT return filing due date extended to 30th June 2017

F NO.279/Misc./M-63/2017-ITJ - (31/05/2017) - CBDT hereby extends date of furnishing of statement of financial transactions under Rule 114E(5) of Rules, r.w. section 285BA for Assessment Year 2017-18 front 31st May 2017 to 30th tune 2017 in case of persons throughout India who are liable to furnish the said statement....

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Submission of SFT relating to issue of Bonds for ₹ 5 lakh or more- Reg.

RBI/2016-17/313 IDMD.CDD.No.3058/13.01.299/2016-17 - (30/05/2017) - It is observed that a few Agency banks were submitting Annual Information Returns (AIR, now changed to SFT) in respect of Savings Bonds to Income Tax Authorities as well as to RBI....

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Procedure for Acceptance of SFTs from Sub-Registrar Office & Post Offices

Notification No. 7/2017-Income Tax - (30/05/2017) - Procedure for Acceptance of Statement of Financial Transactions from Sub-Registrar Office and Post Offices (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962 ...

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RBI advisory to banks on Submission of SFT

RBI/2016-17/309 IDMD.CDD.No.3031/13.01.299/2016-17 - (25/05/2017) - RBI Advisory on Submission of Annual Information Return now known as Statement of Financial Transaction (SFT) relating to issue of Bonds for ₹ 5 lakh or more under Section 285 BA of Income Tax Act, 1961- ...

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SFT’s Popular Posts

Recent Posts in "SFT"

5.56 lakh new persons in 2nd phase of Operation Clean Money identified

Income Tax Department has used information received under Statement of Financial Transactions to identify 5.56 lakh new persons in second phase of Operation Clean Money....

Read More
Posted Under: Income Tax |

Obligation to Furnish Statement of Financial Transaction (SFT) or Reportable Account Under Provisions of Section 285BA of the Income Tax Act, 1961

The person required to furnish details in the Form 61A according to the provisions of Rule 114E, the same shall be furnished to the Director of Income Tax (Intelligence and Criminal Investigation) or the Joint director of Income Tax (Intelligence and Criminal Investigation) through online....

Read More
Posted Under: Income Tax |

Interest and Dividend reporting under Income Tax of Custodial A/cs

SEBI Circular No. CIR/HO/MIRSD/MIRSD2/CIR/P/2017/59 (15/06/2017)

In terms of Rule 114G(1)(e)(i) of Income Tax Rules, 1962 issued under Section 285BA of Income Tax Act, 1961 following information is required to be reported by reporting financial institution in the case of reportable custodial account:-...

Read More

All About SFT- Information

Section 285BA- Requirements, Coverage and Procedure...

Read More
Posted Under: Income Tax |

SFT return filing due date extended to 30th June 2017

F NO.279/Misc./M-63/2017-ITJ (31/05/2017)

CBDT hereby extends date of furnishing of statement of financial transactions under Rule 114E(5) of Rules, r.w. section 285BA for Assessment Year 2017-18 front 31st May 2017 to 30th tune 2017 in case of persons throughout India who are liable to furnish the said statement....

Read More

Submission of SFT relating to issue of Bonds for ₹ 5 lakh or more- Reg.

RBI/2016-17/313 IDMD.CDD.No.3058/13.01.299/2016-17 (30/05/2017)

It is observed that a few Agency banks were submitting Annual Information Returns (AIR, now changed to SFT) in respect of Savings Bonds to Income Tax Authorities as well as to RBI....

Read More

Procedure for Acceptance of SFTs from Sub-Registrar Office & Post Offices

Notification No. 7/2017-Income Tax (30/05/2017)

Procedure for Acceptance of Statement of Financial Transactions from Sub-Registrar Office and Post Offices (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962 ...

Read More

CBDT clarifies on SFT & SFT Preliminary Response Filing

Section 285BA of the Income-tax Act, 1961 requires furnishing of a statement of financial transaction (SFT) for transactions prescribed under Rule 114E of the Income-tax Rules, 1962. The due date for filing such SFT in Form 61A is 31st May 2017....

Read More

All about SFT under Section 285BA read with Rule 114E of the Income Tax Act 1961

The Rule 114E prescribed under the reporting transactions and persons that need to file such records to Director/Joint director of Income Tax (Intelligence and Criminal Investigation).The same is produced below in a synopsis manner to help the reader to get a broad idea of the provisions and rules....

Read More
Posted Under: Income Tax | ,

Form 61A- Who is required to submit – An Infographic

Requirements of Filing Form 61-A for reporting entity has been made mandatory and the due date is May 31, 2017. Lets See with help of this chart who is required to Submit Form 61A and who is not required to submit the same and who are required to submit preliminary response under Section 285BA Read […]...

Read More
Posted Under: Income Tax |
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