SFT Report Generation Utility Procedure User Guide. FAQ on Preparation, Validation and Generation of SFT Form No. 61A u/s 285BA read with Rule 114E for reporting of cash transactions
Statement of Financial Transaction (SFT) Report Generation Utility User Guide
1 Introduction
1.1 Intended Audience The principal officer and the technical personnel of the reporting entity who would be using the Utility are the users of this document.
1.2 Legal Framework
Section 285BA of the Income Tax requires specified reporting persons to furnish statement of financial transaction. 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.
1.3 Related Resources
The reporting entity may refer to following resources released by the Directorate of Systems
| Systems Notification(s) | Notifications issued by the Directorate of Systems specifying the procedures, data structures and standards for ensuring secure capture and transmission of data, evolving and implementing appropriate security, archival and retrieval policies |
| User Manual for ITDREIN Registration and Upload | User Manual to explain steps in registration of filer and upload of SFT (Form 61A) |
| SFT Report Generation Utility | Java utility to assist the filer in preparation of SFT (Form 61A) in XML file |
| SFT Report Generation Utility User Guide | User Guide to explain steps in using the Java utility to assist the filer in preparation of SFT (Form 61A) in XML file |
| SFT Quick Reference Guide | One page document with steps for preparation of SFT |
The developers who want to develop program to generate XML may refer to the following:
| Form 61A Schema | XSD file which contains the schema in which SFT (Form 61A) needs to be prepared and uploaded/submitted |
| Form 61A Schema Guide | Guide to assist the filer in understanding the Form 61A Schema |
2 Overview of the Utility
Report Generation Utility is a desktop utility based on java. The utility enables user to generate validated Form 61A XML Reports which is to be submitted to ITD.
2.1 Key Features
Report Generation Utility has following features:
2.2 Toolbar and Messages
The utility contains Toolbars, messages and buttons. The Report Generation Utility toolbar has a list of pre-arranged command buttons. These buttons in the toolbar are action interfaces that allow the user to perform utility functions.
The utility displays following types of messages:
3 Deploying the Utility
3.1 Downloading the Utility
The Report Generation Utility is available on the e-filing website home page under forms (other than ITR) tab on of the e-filing portal. The Utility can be downloaded as follows:
1. Go to e-filing portal at https://incometaxindiaefiling.gov.in/
2. Click on the Forms (other than ITR) tab under the Downloads section.
3. Click on the Download link against Form 61A to download the Utility. It allows the user to save the file in the location selected by the user.
3.2 Prerequisites for the utility
The Utility requires Java Runtime Environment (JRE) and Unzip software.
1. Operating System * Windows 7.1 and above
2. Java Runtime Environment (JRE)
It allows the user to run Java supported programs. Report Generation Utility requires JRE to run on Windows based operating system.
Download and install JRE version 1.8 Update 101 or later from https://java.com/en/download/
3. Unzip software
It allows the user to extract the zipped/compressed file.
Use tools like WinZip or WinRAR to extract the downloaded Report Generation Utility file.
3.3 Deploying the utility
Once the JRE version 1.8 Update 101 or later is installed, the utility can be deployed on user machine by extracting the downloaded file to the folder using tools like WinZip or WinRAR.
3.4 Running the utility
After the JRE version and utility is installed, the Report Generation Validation Utility can be run as follows:
1. Go to the folder where the contents of the Utility have been extracted.
2. Click on RGU-Form61A-v1.jar file. It displays the General Instructions window
Caution: The system console window should remain open throughout the operation of the utility. If this window is closed either accidentally or intentionally, data could be lost.
4 Preparation of SFT
Form 61A has four parts. Part A contains statement details, which is common to all transaction types. Other three parts relate to report level information (depending on transaction type), which are as follows:
Reporting person/entity is required to furnish separate Form 61 A for each transaction type. Instructions and validation requirement for Form 61A is given in Annexure A.
4.1 Selecting the Transaction Type
1. Open Form 61A utility. Select the SFT code from the Drop down on the Instructions page
2. Utility will ask permission to proceed, click on OK to continue
4.2 Capturing Statement Details User needs to click on ‘Statement (Part A)’ and fill statement details consisting of Reporting Entity Details, Statements Details and Principal Officer Details. User needs to enter all mandatory fields.
Report details can be captured by importing CSV files or manual data entry.
4.3 Capturing Report Details by Importing CSV
User can use Coma Separated Values (CSV) file to capture report details
1. Click on Export CSV button to download CSV Template
2. Save the CSV at desired location
3. Open the CSV file and fill the details by data entry or pasting values.
4. Click on Import CSV button
5. Select the pre saved CSV from file system and then click on Open button to upload
6. CSV imported successfully dialog box will be displayed. Click on OK button to complete the import
4.4 Capturing Report Details by Data Entry
1. Click on Add Row button to add a new information record
2. Click on Delete Row button to delete the selected information record
3. Click on Edit Row button to edit the selected information record
4. Fill the details and click on Save button to save the details
5 Validation of SFT
The utility allows the user to validate the information and identify errors before submission. The errors have been classified in following categories:
| Mandatory Errors | Mandatory Schema level errors need to be resolved by user for successful generation of XML report. |
| 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. |
| 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. |
The explanation of various types of validation errors is given in Annexure C.
5.1 Validating data
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
5.2 Correcting the Errors
1. Click on any particular validation error from list, utility will show the field highlighted in red, where corrections can be made
2. Fix the errors and then click on Validate button again to check whether error has been removed.
3. 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, click on OK button.
3. Give the desired path where user wants to save XML on machine and click on save button.
7 Other Features of the Utility
7.1 Exporting SFT Data in CSV file
The utility allows user to export SFT data in CSV file
1. Click on Export CSV button to export SFT Data in CSV
2. Save the CSV at desired location
7.2 Saving Draft XML File
The utility allows user to save filled information as draft which can be later viewed and edited.
1. Click on Save button in toolbar
2. File window will be displayed to select the folder where file needs to be saved.
3. Give desired path to save draft XML file
7.3 Opening Saved XML File
The utility allows user to open, view and edit the saved draft and XML.
1. Click on Open button in toolbar
2. Select the desired saved file from machine and click on Open button
3. The information in the saved XL file will be loaded
7.4 Preparation of NIL Statement
Utility allows user to generate SFT (XML) with no financial transactions in it. This functionality is useful when Reporting Entity has no financial transaction to report.
1. Fill required information in Statement (Part A) and select ND (No Data) from Statement Type drop down field.
2. Save XML to desired location on machine.
7.5 Preparation of Correction Statement
In an event, if user needs to send correction statement for a previously submitted statement, User can generate a correction statement.
Steps for correction in previously submitted information:-
1. Open existing XML which need to be corrected
2. Select CB- Correction statement containing correction for previously submitted information selection from Statement Type dropdown list
3. Mention the statement ID of the original Statement which is being corrected in the element ‘Original Statement ID’.
4. Mention the Report Serial Number of the original report which is being corrected in the element ‘Original Report Serial Number’. Only reports which are to be corrected /revised/deleted should be retained and other reports may be deleted.
Download Java Utility to Assist the Filer in Preparation of SFT (Form 61A) in XML file Click Here >>
Frequently Asked Questions (FAQs) on SFT Preparation Click Here >>
Download Complete User Guide Click Here >>
Filing SFT in Form 61A Applicability and Requirement of Filing NIL SFT Click Here >>
Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants In 2015, the Ministry of Corporate Affairs…
Trade Tax Department was unjustified in retaining refund beyond stipulated period and adjusting it against default notices issued subsequently. In…
Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions…
Order u/s 148A(d) passed against non-existent entity is bad in eyes of law. Mere activation of PAN not give right…
Tax authorities not bound with provisions of section 44AE of the Act once assessee waived the option available In a…
Whether seized document is incriminating or not is definitely a findings of fact – High Court In a recent judgment,…