TaxTMI 
TaxTMI 
Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Depository Transactions
X X X X Extracts X X X X
X X X X Extracts X X X X
....the approval of the Board. 3. The guidelines for preparation and submission of Statement of Financial Transactions (SFT) information are enclosed in Annexure A and Annexure B respectively. The format of control statement to be submitted by the Designated Director is given in Annexure C. The data structure and validation rules are enclosed in Annexure D and Annexure E respectively. Notification No. 3 of 2018 dated 05.04.2018 may be referred for the procedure for registration. 4. All Depositories as defined in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996) are required to prepare the data file in prescribed format from their internal system. Reporting entities are required to submit the data files using SFTP Server using the login credentials (To be communicated separately). 5. A separate control statement (refer annexure C) is required to be signed, verified and furnished by the Designated Director. 6. ^1[With effect from 1st April 2023 the statement of financial transactions data will be submitted on half yearly basis instead of existing quarterly basis i.e. data relating to 1st half of the Finan....
X X X X Extracts X X X X
X X X X Extracts X X X X
....The securities should be classified into specified security class for determining the type of asset (short term/long term) and applicable rate. 5. The period of holding (difference between date of sale and date of acquisition of any share/security in the demat account) should be used to classify the asset as short term or long-term asset. First in First out (FIFO) method should be used for identification of corresponding credit in demat account and computation of period of holding. Any capital asset held by the taxpayer for a period of more than minimum period of holding will be treated as long-term capital asset and remaining assets will be classified as short-term asset. The specified minimum period of holding for different asset class is as under: ^3[Security Class Code Security Class Description Minimum Period of Holding Remarks LES Listed Equity Share 12 months - LPS Listed Preference Share 12 months - LDB Listed Debenture 12 months - ZCB Zero Coupon Bond 12 months - CIB Listed Capital Indexed Bond 12 months - EMF Unit of Equity Oriented Mutual Fund 12 months - UTI Unit of ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....quired before the 1st day of February, 2018, adjusted cost of acquisition shall be higher of (i) the cost of acquisition of such asset; and (ii) lower of (A) the fair market value of such asset as on 31st January, 2018; and (B) the full value of consideration received or accruing as a result of the transfer of the capital asset. In a case where the capital asset is listed on any recognized stock exchange as on the 31st day of January, 2018, "fair market value" means the highest price of the capital asset quoted on such exchange on the said date. If there is no trading in such asset on such exchange on the 31st day of January, 2018, the highest price of such asset on such exchange on a date immediately preceding the 31st day of January, 2018 when such asset was traded on such exchange shall be the fair market value. In case the cost of acquisition of asset acquired before the 1st day of February, 2018 is not easily available, the adjusted cost of acquisition may be taken as lower of (A) the fair market value of such asset; and (B) the full value of consideration. 8. The Cost Inflation Index should be used to determine estimated indexed cost of acquisition wherever app....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Market Debits C.4 Off-Market Credits C.5 Off-Market Debits C.6 IPO Credits C.7 Corporate Action Credits C.8 Corporate Action Debits C.9 Dematerialized Credits C.10 Rematerialized Debits C.11 Pledge Invocation Credits C.12 Pledge Invocation Debits C.13 Closing Value I, declare that to the best of my knowledge and belief, the information given in the data files is correct and complete and is in accordance with the provisions of the Income-tax Act, 1961. Name ___________ Designation _________ Annexure D Data Structure The information is required to be uploaded in data file. The data file should be in ASCII format with one report per line. All fields in each file should be delimited with the delimiter "|". The first record in the file should contain header text. D.1. Depository Batch File (DEP_BATCH.TXT) T....
X X X X Extracts X X X X
X X X X Extracts X X X X
....mary (DEP_ACC_SUMM.TXT) This file contains details of demat account holders and summary values for the demat account for the reporting period. #. Field Name Mandatory Format Remarks 1. Sequence Number Y DECIMAL (18,0) Running sequence number for each line in the file. 2. Financial Year Y VARCHAR (4) FY in which sale transaction was recorded-YYYY 3. Reporting Period Y DATE Last day of the reporting period DD-MM-YYYY 4. DP ID Y VARCHAR (8) First part of Demat Account Number 5. Client ID Y VARCHAR (8) Second part of Demat Account Number 6. DP Name Y VARCHAR (100) Depository Participant's Name 7. Client PAN Y VARCHAR (10) First Holder's PAN. Mention PANNOTAVBL if no PAN is available. 8. Client Name Y VARCHAR (250) First Holder's name 9. Client Type Y VARCHAR (1) R - Resident N- Non-resident F - FII ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ing period 30. Market Debits Y DECIMAL (18,2) Sum of Market Sales during reporting period 31. Off-Market Credits Y DECIMAL (18,2) Sum of Off-market purchases during reporting period 32. Off-Market Debits Y DECIMAL (18,2) Sum of Off-market Sales during reporting period 33. IPO Credits Y DECIMAL (18,2) Sum of value credited on account of IPO during reporting period 34. Corporate Action Credits Y DECIMAL (18,2) Sum of value credited on account of Corporate Actions during reporting period 35. Corporate Action Debits Y DECIMAL (18,2) Sum of value debited on account of Corporate Actions during reporting period 36. Dematerialized Credits Y DECIMAL (18,2) Sum of value dematerialized (Credit) during reporting period 37. Rematerialized Debits Y DECIMAL (18,2) Sum of value rematerialized (Debit) during reporting p....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... VARCHAR (1) Refer Guidelines S - Short Term L - Long Term 15. Units Y DECIMAL (18,3) Units sold or transferred. Refer Guidelines. ^5[16. Unit price Y DECIMAL (18,2) Weighted Average sale price per unit (taking into account the actual value of the transactions) 17. Sale Consideration Y Decimal(18,2) Estimated Sale Consideration at Weighted Average price (taking into account the actual value of the transactions) 18. COA Y Decimal (18,2) Estimated Cost of acquisition without indexation Refer Guidelines.] 19. Unit FMV Y DECIMAL (18,2) FMV per unit as on 31.01.2018. Refer Guidelines 20. Total FMV Y DECIMAL (18,2) Total FMV as on 31.01.2018. Refer Guidelines 21. Adjusted FMV N DECIMAL (18,2) If the long term capital asset was acquired before 01.02.2018, Lower of Sale Consideration and Total FMV. Refer Guidelines 22. Adjusted COA N....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... DECIMAL (18,3) 19. Reported Consideration N DECIMAL (18,2) Consideration reported during transfer 20. EOD Price per unit Y DECIMAL (18,2) Per Unit End of day price 21. EOD Value Y DECIMAL (18,2) Estimated Transaction Value (End of day price) 22. Reason code Y VARCHAR (3) Reason Code. Refer permissible values 23. Reason Y VARCHAR (500) Reason Note: Refer Guidelines for preparation of SFT for more details Permissible Values - Statement Type # Code Description 1. NB New Batch (Statement) containing new information 2. DB Deletion Batch (Statement) 3. CB Correction Batch (Statement) containing corrections for previously submitted information Permissible Values - Reason for Correction # Code Description 1. A Acknowledgement of original Statement had many errors which are being resolved 2. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Transfer to own account 23. PAY Payout - On payments for unpaid securities 24. PRT Transfer between Partner and Firm, Director and Company 25. RED Redemption of Mutual Fund Units 26. REF Refund of securities by IEPF Authority 27. TPM Transfers to PMS account 28. TRP Transposition - Between joint account of same holders 29. OTH Other 30. ZZZ Not Specified Permissible Values - State code # State/Union Territories Code 1. Andaman and Nicobar AN 2. Andhra Pradesh AP 3. Arunachal Pradesh AR 4. Assam AS 5. Bihar BR 6. Chandigarh CH 7. Dadra and Nagar Haveli DN 8. Daman and Diu DD 9. Delhi DL 10. Goa GA 11. Gujarat GJ 12. Haryana HR 13. Himachal Pradesh HP 14. Jammu and Kashmir JK 15. Karnataka KA 16. Kerala KL 17. Lakshadweep ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Reported Exception N 7. Mismatch identified after matching data with other submitted data Exception N *************** NOTES:- 1. Corrected vide Corrigendum to Notification No. 3. of 2021 dated 15-11-2023 before it was read as, "The statement of financial transactions relating to Financial Year 2020-21 shall be furnished on or before the 31st May 2021. Thereafter, the statement of financial transactions relating to the quarter ending 30th June, 31st September, 31st December and 31st March shall be furnished on or before 25th of July, October, January and April respectively." 2. Corrected vide Corrigendum to Notification No. 3. of 2021 dated 15-11-2023 before it was read as, "The Estimated Sale Consideration for the debit transaction should be determined on the best possible available price of the asset with the depository (e.g. end of day price). The taxpayer will be able to modify the sales consideration before filing the return." 3. Corrected vide Corrigendum to Notification No. 3. of 2021 dated 15-11-2023 before it was read as, "Security Class Code Security Class Des....