Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962 - 1/2017 - Income Tax
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Statement of Financial Transactions reporting: Electronic registration and mandatory form submission with prescribed schema and aggregation rules. Specified reporting persons must register for an ITDREIN and submit the Statement of Financial Transactions in Form No. 61A via the e filing portal using the prescribed schema and digital signature. Submissions are organised by transaction type (SFT 001 to SFT 014) into Parts A-D of Form 61A, with aggregation rules for threshold determination, mandatory identifiers for traceability, correction statement procedures, and documented security, archival and retrieval obligations for reporting entities.
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Statement of Financial Transactions reporting: Electronic registration and mandatory form submission with prescribed schema and aggregation rules.
Specified reporting persons must register for an ITDREIN and submit the Statement of Financial Transactions in Form No. 61A via the e filing portal using the prescribed schema and digital signature. Submissions are organised by transaction type (SFT 001 to SFT 014) into Parts A-D of Form 61A, with aggregation rules for threshold determination, mandatory identifiers for traceability, correction statement procedures, and documented security, archival and retrieval obligations for reporting entities.
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