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of <h1>New Rules for Financial Transaction Statements: Biannual Submissions, Revised Sale Estimates, and Asset Holding Period Changes.</h1> The notification modifies the guidelines for submitting the Statement of Financial Transactions (SFT) related to depository transactions. Effective from April 1, 2023, SFT data will be submitted biannually instead of quarterly. The method for estimating sale consideration for debit transactions is revised to use the weighted average price, allowing taxpayers to adjust it before filing returns. Changes also include new guidelines for the minimum holding period of assets, with specific conditions for certain securities based on their investment in domestic companies. Additionally, a new data field is introduced to flag purchases made before or after February 1, 2018.
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