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<h1>Statement of Financial Transactions requirement: reporting mandates electronic submission, designated officer accountability and specified transaction disclosures.</h1> The rule mandates furnishing a statement of financial transactions in Form 61A for specified high-value transaction categories, with defined classes of reporting persons required to report. Reporting persons must aggregate like transactions/accounts per person, attribute full value for joint accounts, and apply thresholds as prescribed. Form 61A is generally to be transmitted electronically using a digital signature in the data structure and security formats specified by the Principal Director General of Income-tax (Systems); limited machine-readable media exceptions apply. Designated Directors and Principal Officers bear registration and compliance duties, and the statement must be signed and verified by the Designated Director or authorised proxy.