Section 285BA of the Income-tax Act, 1961 requires furnishing of a Statement of Financial Transaction (SFT) for transactions prescribed under Rule 114E of the Income-tax Rules, 1962. The due date for filing such SFT in Form 61A is 31st May 2017.

In case there are reportable transactions for the year, the reporting person/entity is required to register with the Income Tax Department and generate Income Tax Department Reporting Entity Identification Number (ITDREIN). The same can be generated by logging-in to the e-filing website (https://incometaxindiaefiling.gov.in/) with the login ID used for the purpose of filing the Income Tax Return of the reporting person / entity. Entity having PAN can take only PAN based ITDREIN. Entity having TAN can generate an ITDREIN only when such TAN's Organisational PAN is not available.

The registration of reporting person (ITDREIN registration) is mandatory only when at least one of the Transaction Type is reportable. A functionality "SFT Preliminary Response" has been provided on the e-Filing portal for the reporting persons to indicate that a specified transaction type is not reportable for the year.

Detailed procedure of ITDREIN registration and upload of Form 61A is available under the “Help” section and Form 61A utility and Schema are available under the download section of http://www.incometaxindiaefiling.gov.in and https://www.cleanmoney.gov.in. Online filing of Form 61A requires a valid class 2 or 3 digital signature certificate of person responsible for filing the same. Please refer “DSC Management Utility” manual under help section on how to generate the signature file, attaching the XML with signature and uploading of XML with signature file in e-Filing portal.

Statement of Financial Transaction filing requires ITDREIN registration when reportable transactions exist; preliminary response option available online. The CBDT requires reporting persons with reportable transactions to register on the e filing portal and obtain an ITDREIN using their income tax e filing login; PAN holders must use PAN based ITDREIN while TAN holders may generate ITDREIN where organisational PAN is unavailable. A portal 'SFT Preliminary Response' lets reporting persons mark specified transaction types as not reportable. Form 61A upload utilities, schema, and guidance are on the e filing and clean money sites, and electronic submission mandates a class 2 or 3 Digital Signature Certificate with instructions in the help section.