Filing of Statement of Financial Transactions (SFT)

Filing of Statement of Financial Transactions (SFT)

- Section 285BA of the Income Tax specified reporting persons to furnish Statement of Financial Transaction (SFT).

- 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.

- Filing of SFT statement is applicable from FY 2016-17 onwards and statements prior to FY 2016-17 to be furnished as Annual Information Return (AIR).

a. Please go to e-filing portal at https://incometaxindiaefiling.gov.in

b. Click on the Forms (other than ITR) tab under the Downloads section.

c. Click on the Download link against Form 61A to download the Utility.

d. It allows the user to save the file in the location selected by the user.

- Due date for furnishing SFT statement for FY 2016-17 is May 31, 2017

- Post Offices and Sub-Registrars can submit SFT statements to TIN Facilitation Centers (TIN-FCs) and all the other category of filers should furnish the statement online at e-Filing portal of Income Tax Department.

- The address details of TIN-FCs is available at TIN website link https://www.tin-nsdl.com/tin-facilities.html

- The pre-requisites are as under to submit the SFT statement at TIN FC

  1. Signed control sheet of Form 61A (generated from the utility downloaded from https://incometaxindiaefiling.gov.in/
  2. b.Form 61A i.e. XML file in in electronic form in computer media (CD)

You have to pay charges as mentioned below for furnishing the SFT at TIN FCs:

The tax payer can contact its local post office with the speed post ref no displayed at the NSDL-TIN website

Number of records /transacting parties in the file Upload Fee
Up to 100 38.00
101 to 1000 178.00
More than 1000 578.50

* Excluding taxes as applicable