Submission of Statement of Financial Transaction (SFT): CBDT Clarification

CBDT Clarification on Submission of Statement of Financial Transaction (SFT) & Preliminary Response

CBDT has issued clarification that IT Section 285BA requires furnishing of a Statement of Financial Transaction (SFT) for transactions prescribed under IT Rule 114E. The due date for filing such SFT in Form 61A is 31 May 2017. For submission of information on reportable transactions, the reporting person/ entity is required generate Income Tax Deptt. Reporting Entity Identification Number (ITDREIN).

CBDT Press Release dt. 26 May 2017

The ITDREIN can be generated by logging-in to the e-filing website using login ID meant for filing Income Tax Return (ITR). Entity having PAN can take only PAN based ITDREIN. Entity having TAN can generate an ITDREIN only when such TAN’s Organisational PAN is not available.

The registration of reporting person (ITDREIN registration) is mandatory only when at least one of the Transaction Type is reportable. A functionality “SFT Preliminary Response” has been provided on the e-Filing portal for the reporting persons to indicate that a specified transaction type is not reportable for the year.

Detailed procedure of ITDREIN registration and upload of Form 61A is available under the “Help” section and Form 61A utility and Schema are available under the download section. For more details, please refer the link below:

CBDT Procedure for Registration/ Submission of SFT as per IT Sec. 285BA/ Rule 114E 

Online filing of form 61A requires a valid class 2 or 3 digital signature certificate of person responsible for filing the same. Please refer “DSC Management Utility” manual under help section on how to generate the signature file, attaching the XML with signature and uploading of XML with signature file in e-Filing portal.

Related Posts:

Registration/ Submission of ‘SFT’ in Form 61A under S. 285BA: CBDT’s Revised Procedure

No aggregation for Reporting Cash Transactions under IT Rule 114E: CBDT Clarification

CBDT Procedure for Registration/ Submission of SFT as per IT Sec. 285BA/ Rule 114E


  1. Vimal Roy

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