Income Tax Department reminder on filing of SFT for FY 2017-18-Don’t miss the deadline

Income Tax Department has issued an advisory/reminder on filing of Statement of Financial Transaction which is required to be filed latest by 31-05-2018 for FY 2017-18

The following category of persons are required to file online SFT:

  • Sub-registrar
  • Cooperative Bank
  • Banking Company
  • NBFC
  • Nidhi
  • Post Master General
  • Issuer of Bonds/debentures/shares
  • Trustee of Mutual Funds
  • Foreign Exchange Dealer
  • Supplier of Goods or Services (who are covered under Tax Audit u/s 44AB)

If above category of persons are required to file online Statement of Financial Transaction (SFT) in Form No. 61A for specified transactions entered into with third parties during financial year 2017-18.

Delay in filing SFT is liable to penalty up to Rs. 1000/- for each day of default. Also, filing inaccurate particulars would also invite penalty.

Reminder on filing of SFT

Also Read:

Procedure for filing SFT has been modified and registration, statement upload and all other facilities for Form No. 61, 61A and 61B have been migrated Read more >>

Guidelines for Preparation of SFT us 285BA Rule 114E. Statement of financial transaction Form No. 61A Read More >>

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