Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Interest income

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.... of Financial Transactions (SFT) information are enclosed in Annexure A and Annexure B respectively. The data structure and validation rules are enclosed in Annexure C and Annexure D respectively. Notification No. 3 of 2018 Dated 5.04.2018 may be referred for the procedure for registration. 4. Reporting entities are required to prepare the data file in prescribed format from their internal system. An excel based report preparation utility has also been provided to assist small reporting entities in preparing data file. The data files prepared by internal system/report preparation utility should be validated using Text File Validator/Submission Utility. After validation, the text file is required to be compressed, encrypted and signed using the Text File Submission Utility before uploading on the reporting portal (https://report.insight.gov.in/). Reporting entities, having large number of data files, can also submit the data files using SFTP Server (specific request may be made for SFTP upload). 5. The statement of financial transactions shall be furnished on or before the 31st May, immediately following the financial year in which the transaction is registered or recorded. ....

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....ection 2 of the Indian Post Office Act, 1898 (6 of 1898). (iii) Nonbanking financial company which holds a certificate of registration under section 45IA of the Reserve Bank of India Act, 1934 (2 of 1934), to hold or accept deposit from public. Remarks ^1[1. The information is to be reported for all account/deposit holders where any interest exceeds zero per account in the financial year excluding Jan Dhan Accounts] 2. Interest which is exempt from tax under the Income-tax Act, 1961 such as interest on Public Provident Fund (PPF) Account, Foreign Currency Nonresident (FCNR) Account, Sukanya Samriddhi Account, Resident Foreign Currency Account etc. need not be reported. 3. While reporting the interest amount, deduction of Rs. 10,000/available under section 80TTA should not be reduced from interest amount paid/credited. 4. In case of joint account, the interest paid/credited should be assigned to the first/primary account holder or specified assigned person as per Form 37BA. 5. In case of minor being the account holder, the information to be reported in the name of Legal Guardian. 6. Separate report is required to be submitted for each account type (i.e.....

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.... # Field   Format Mandatory Remarks 1.  RSN   Num (10) Y Report Serial Number is the unique number to identify each report in the file. 2.  FY   Num (4) Y Financial Year (2020 for FY 2020­21) 3.  Name   Char (150) Y Name of the person/ Entity 4.  PAN   Char (10) Y PAN of the person. Mention PANNOTAVBL if PAN is not available. 5.  Aadhaar   Char (15)   Aadhaar of the person.  6.  Mobile    Char (20)   Mobile Number of the person 7.  Email    Char (100)   e­Mail Id of the person 8.  Account Number   Char (20) Y Account Number (in which interest paid/ credited) 9.  Type Account of Char (1) Y ....

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.... 5. Failed Signature Check Failed Signature Check. Please sign the file with the Digital Signature using Validation and Encryption Utility and resubmit. 6. Signature Mismatch Digital Signature used in file for signing does not match with Digital Signature registered on Reporting Portal. Please resign the file with the Digital Signature of the Designated Director. 7. Signature not Uploaded Digital Signature not uploaded. Please upload the digital signature certificate file on the Reporting portal. 8. Signature Expired Signature Expired. Please upload the updated digital signature certificate on the Reporting portal as the existing certificate is expired. 9. Failed Threat Scan Failed Threat Scan. Please scan the file for threats and viruses. Remove all detected threats and viruses prior to encryption. 10. Failed Virus scan Failed Virus scan. Please scan the file for threats and viruses. Remove all detected threats and viruses prior to encryption. 11. RSN should not be blank (mandatory field) RSN is blank in XX reports 12. ....