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All › Income Tax › Income Tax - 2023
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No. 01/2023 - Dated: 05-01-2023 - Inc.Tax Act 1961 Income Tax
Reporting of information relating to interest income - Format Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Interest income (Abolishing of limit of Rs 5,000/-) - Addendum to Notification 2 of 2021.
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Interest income reporting: all interest amounts per account must be reported for tax pre-filling, excluding Jan Dhan accounts.
The addendum abolishes the prior monetary threshold and requires reporting persons to report interest information for every account or deposit holder where any interest accrues in the financial year, excluding Jan Dhan accounts, replacing the earlier cumulative-limit trigger and expanding reportable accounts for return pre-filling.

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