FAQ-Preparation Validation and Generation of SFT Form No 61A for reporting of cash transactions u/s 285BA read with Rule 114E
FAQ-Preparation, Validation and Generation of SFT Form No 61A
Deploying the Utility
1. How to install the utility on a windows platform?
The downloaded zip file has to be extracted using WinZip or WinRAR tools. For more details refer section 3.4 of the user guide.
2. Whether the utility needs any other software to be installed?
Yes. Report Generation Utility requires JRE to run on Windows based operating system. Download and install JRE version 1.8 Update 101 or later. For more details, refer section 3.2 of the user guide.
3. How to run the utility?
Click on RGU-Form61A-v1.jar file to run the utility. For more details, refer section 3.4 of the user guide.
Preparation of SFT
4. How to capture data in the utility?
Data can be captured by importing CSV or data entry.
5. What date format should be used while filling CSV?
User should use DD-MM-YYYY format while entering data in CSV. If date is entered in incorrect format then CSV will not be imported successfully.
6. Can data be saved before the report is complete?
Yes. Save the data using Save button in the tool bar. The data is saved with a draft extension. To retrieve the data in the utility, use the Open button from the tool bar.
7. What data format should be used while entering data in CSV?
Data format to be used for various fields is described in Form 61A or Annexure B of the user guide.
8. How to capture information for more than account holders?
For Accounts with more than one account holder, user needs to enter multiple record rows for each account, where Account detail (including “Report serial Number”) will be repeated for each account holder. The utility will automatically create reports with unique Report serial Number from the CSV data.
9. How to view information importing CSV?
After successful CSV import, data is visible in the relevant tab of the utility.
Validation of SFT
10.What are various types of validation errors?
The errors have been classified as mandatory errors, defects and exceptions. . For more details refer Annexure B of the user guide.
11. What are mandatory errors?
Mandatory errors need to be resolved by user for successful generation of XML report. These are generally schema level errors. For resolving these type of errors, the data filled should be as per the Form 61A schema validation
12.What are defects?
Defects can be Statement level defects or Report level Defects. Statement Defects are those which render the Statement (Part A) defective. Such Statements will be rejected and the reporting entity needs to resubmit the statement. Report defects are those which render a particular report(s) (Part B/C/D) as defective in the statement. A statement may have multiple reports and only reports with defects would be rejected. The reporting entity needs to correct and submit the reports again in the corrected statement.
13.What are exceptions?
Exceptions do not result in the statement/report being rejected. The exceptions should be reviewed by the reporting person/entities and if any information is available, the reporting entity may provide the information. If any defect is noticed, the reporting entity needs to rectify the defect by submitting a correction statement.
14.How to identify validation errors?
When user clicks on validate button, validation summary is displayed in Validation Error tab. On selecting a particular Row on the validation error screen, error details are displayed on screen on the right side. On selecting the error, user is directed towards the erroneous field on the screen.
15.How to rectify validation errors?
User can navigate to erroneous fields via Validation Error Details screen on the right side of the screen. Erroneous fields are highlighted in Red and are editable for user to correct.
Generation of SFT
16.Whether any validations are required before generation of XML?
Validations have to be performed before generating an XML file. User is not allowed to generate XML Report with invalid data. In Form 61A utility validations are of 3 types – Mandatory, Defects and Exceptions. It is required to resolve any Mandatory Errors before generation of XML report.
17.Where generated XML files should be submitted?
The XML Report generated from utility needs to be submitted through e-Filing Portal (https://incometaxindiaefiling.gov.in/)
18.What is the extension of generated file?
Generated XML file should have ‘.xml’ extension.
19. Can data be saved before the report is complete?
Yes. User can save the data using Save button in the tool bar. To retrieve the data in the utility, use the Open button from the tool bar 20.How to load an existing XML file? Select the saved XML file using the Open button from the tool bar.
SFT Report Generation Utility Procedure User Guide Click Here >>
Download Java Utility to Assist the Filer in Preparation of SFT (Form 61A) in XML file Click Here >>
Download Complete User Guide Click Here >>
SFT Filing in Form 61A Applicability and requirement of filing NIL SFT Click Here >>
Is Form 61A is must even in case of NIL transaction ?
Notification does not say so.