Statement of Financial Transactions (SFT) for Depository Transactions - Method for computation of 'The Estimated Sale Consideration for the debit transaction' and Frequency for submitting the statement of financial transactions data and Minimum Period of Holding of assets, modified. - Corrigendum to Notification No. 3. of 2021 - Income Tax Act, 1961
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SFT reporting now half yearly; depository reporting mandates weighted average pricing and FIFO matching for transactions. Reporting frequency for SFT by Depository Institutions is changed to half yearly. Estimated Sale Consideration for debit transactions must be computed using Weighted Average Price based on actual transaction values. Debit-credit matching remains under FIFO. Estimated Cost of Acquisition is to be computed at weighted average for purchases after the cut off and end of day price for earlier purchases; off market and certain non-exchange credits are NIL and IPO credits are treated as market credits. Data fields now capture weighted average unit price, weighted average sale consideration, cost of acquisition, and a purchase-flag indicating pre/post cut off purchases.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
SFT reporting now half yearly; depository reporting mandates weighted average pricing and FIFO matching for transactions.
Reporting frequency for SFT by Depository Institutions is changed to half yearly. Estimated Sale Consideration for debit transactions must be computed using Weighted Average Price based on actual transaction values. Debit-credit matching remains under FIFO. Estimated Cost of Acquisition is to be computed at weighted average for purchases after the cut off and end of day price for earlier purchases; off market and certain non-exchange credits are NIL and IPO credits are treated as market credits. Data fields now capture weighted average unit price, weighted average sale consideration, cost of acquisition, and a purchase-flag indicating pre/post cut off purchases.
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