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Procedure For Registration And Submission Of Statement Of Financial Transactions (Sft) As Per Section 285ba Of Income-Tax Act, 1961 Read With Rule 114e Of Income-Tax Rules, 1962
April, 10th 2018
                                              DGIT(S)/ADG(S)-2/Reporting Portal/2017/180
                                   Government of India
                                    Ministry of Finance
                              Central Board of Direct Taxes
                           Directorate of Income Tax (Systems)

                                  Notification No. 3 of 2018
                                                                       New Delhi,5th April, 2018

Procedure for registration and submission of statement of financial transactions
(SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax
Rules, 1962.

Section 285BA of the Income Tax Act, 1961 (hereunder referred to as the "Act") requires
specified reporting persons to furnish statement of financial transaction. Rule 114E of the
Income Tax Rules, 1962 (hereunder referred to as the "Rules") specifies that the statement
of financial transaction required to be furnished under sub-section (1) of section 285BA of
the Act shall be furnished in Form No. 61A. The nature and value of transaction to be
furnished by the reporting person under Rule 114 E is enclosed as Annexure A.

2.      As per sub rule (6)(a) of Rule 114E, every reporting person/entity shall communicate
to the Principal Director General of Income-tax (Systems) the name, designation, address
and telephone number of the Designated Director and the Principal Officer and obtain a
registration number. The procedure for registration for statement of financial transactions
(SFT) was specified in Notification No. 13 dated 30th December, 2016. The functionality for
submission of statement of financial transactions had been enabled on efiling portal vide
Notification No.1 of 2017 dated 17th January 2017 and the earlier instruction is being
updated in the light of newly launched "Reporting Portal" (https://report.insight.gov.in).

3.      As per sub rule (4)(a) of Rule 114E, the statement of financial transactions shall be
furnished through online transmission of electronic data to a server designated for this
purpose under the digital signature of the person specified in sub-rule (7) and in accordance
with the data structure specified in this regard by the Principal Director General of Income-
tax (Systems). The Post Master General or a Registrar or Sub-registrar or an Inspector
General have the option to furnish the statement in a computer readable media, being a
Compact Disc or Digital Video Disc (DVD), alongwith verification in Form-V on paper. 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.

4.      As per sub-rule (4)(b) of Rule 114E Principal Director General of Income-tax
(Systems) shall specify the procedures, data structures and standards for ensuring secure
capture and transmission of data, evolving and implementing appropriate security, archival
and retrieval policies.
                                               1
5.     The values under Statement Type & Person Type and field number in Part B of Form
No. 61A have been modified / enhanced in exercise of the power delegated under sub-rule
(4)(b) of Rule 114E by the Principal Director general of Income-tax (Systems). The detailed
list of modification / changes in schema / data structure of the Form No.61A is attached as
Annexure D.

6.     In exercise of the powers delegated by Central Board of Direct Taxes (`Board') under
sub rule (4)(a) and (4)(b) of Rule 114E of the Income tax Rules 1962, the Principal Director
General of Income-tax (Systems) hereby lays down the following procedures:

     a) Already registered reporting persons/entities on e-filing portal: The
         registration details of already registered reporting persons/entities have been
         migrated from e-filing portal to reporting portal. The registered users of such
         reporting persona/entities shall be communicated of their new login credentials
         through registered email to be used at Reporting Portal. There is no need of
         registering again for such persons/entities.

     b) New Registration, Generation of Income Tax Department Reporting Entity
         Identification Number (ITDREIN)            and Principal Officer: The reporting
         person/entity is required to get registered with the Income Tax Department by
         logging in to the e-filing website (https://incometaxindiaefiling.gov.in/) with the log in
         ID used for the purpose of filing the Income Tax Return of the reporting
         person/entity. The reporting person/entity needs to click on "Reporting Portal" link
         under "My Account" tab at e-filing portal to access `Reporting Portal' for first time
         registration. The reporting person/entity will be required to enter the details of form
         type, category and address of reporting person/entity along with details of Principal
         Officer mandatorily. On successful submission, the ITDREIN is generated and the
         principal officer will receive a confirmation e-mail on his/her registered e-mail
         address and SMS at his/her registered mobile number. There will be no option to
         de-activate ITDREIN, once it is generated.

     c) Addition of Designated Director: The reporting person/entity is required to
         submit the details of designated director either at the time of new registration or at
         later stage, but before any statement is submitted on reporting portal. The
         designated director will receive a confirmation e-mail with login credentials for login
         into reporting portal (https://report.insight.gov.in) at his/her registered email
         address. Only, the designated director of the reporting person/entity can digitally
         sign and upload the Statement of Financial Transaction (SFT) and the
         corresponding correction statements, if any through his/her own login credentials at
         the reporting portal or through Generic submission Utility.


                                                2
d) Submission of Form No. 61A: Every reporting person/entity is required to submit
     the Statement of Financial Transaction (SFT) in Form No. 61A. The prescribed
     schema, Report Generation and Validation Utility for Form No. 61A and Generic
     Submission Utility can be downloaded from the reporting portal under "Resources"
     tab. General and transaction specific guidelines for preparation of SFT in the
     specified format is enclosed as Annexure B and Annexure C respectively. The
     prepared SFTs to be filed is required to be digitally signed by and uploaded at the
     reporting portal or through Generic Submission Utility through the login credentials
     (PAN and password) of the designated director.

e) Submission of correction statement: In case, the reporting person/entity comes
     to know or discovers any inaccuracy in the information provided in the statement or
     the defects have been communicated to the reporting person/entity through Data
     Quality Report (DQR) after submission of Statement, it is required to remove the
     defects by submitting a correction statement. The number of "Reports Requiring
     Correction (RRC)" will be visible against the original statement on reporting portal
     under the `Statement Pending for Correction' tab. The user can download the DQR
     file from the DQR column under `Statements Pending for Correction' Tab at
     Reporting Portal, which can then be opened on the Report Generation utility to find
     and fix the errors. The reporting person/entity needs to rectify all the defects till the
     number of "Reports Requiring Correction (RRC) becomes zero within specified
     time.

f)   Deletion of Submitted Reports in a statement: In case, the reporting
     person/entity wishes to delete the inadvertently filed reports within a statement, it
     can choose the statement type as "Deletion Statement" and file all such reports
     within a single statement to be deleted with exact previously filed values against
     each field. The manner of filing Deletion Statement shall be similar to submission
     of correction statement.

g) Security, archival and retrieval policies: The reporting person/entity is required
     to document and implement appropriate information security policies and
     procedures with clearly defined roles and responsibilities to ensure security of
     submitted    information   and    related   information/documents.      The    reporting
     person/entity is also required to document and implement appropriate archival and
     retrieval policies and procedures with clearly defined roles and responsibilities to
     ensure that submitted information and related information/documents are available
     promptly to the competent authorities.




                                           3
                                                                                Annexure A

      Nature and value of transactions to be reported under Rule 114E
Sl.       Nature and value of transaction              Class of person (reporting person)
No.
(1)                       (2)                                             (3)
1.    (a) Payment made in cash for purchase of       A banking company or a co-operative
      bank drafts or pay orders or banker's          bank to which the Banking Regulation Act,
      cheque of an amount aggregating to ten         1949 (10 of 1949) applies (including any
      lakh rupees or more in a financial year.       bank or banking institution referred to in
      (b) Payments made in cash aggregating to       section 51 of that Act).
      ten lakh rupees or more during the financial
      year for purchase of pre-paid instruments
      issued by Reserve Bank of India under
      section 18 of the Payment and Settlement
      Systems Act, 2007 (51 of 2007).
      (c) Cash deposits or cash withdrawals
      (including through bearer's cheque)
      aggregating to fifty lakh rupees or more in
      a financial year, in or from one or more
      current account of a person.
2.    Cash deposits aggregating to ten lakh          (i) A banking company or a co-operative
      rupees or more in a financial year, in one     bank to which the Banking Regulation Act,
      or more accounts (other than a current         1949 (10 of 1949) applies (including any
      account and time deposit) of a person.         bank or banking institution referred to in
                                                     section 51 of that Act);
                                                     (ii) Post Master General as referred to in
                                                     clause (j) of section 2 of the Indian Post
                                                     Office Act, 1898 (6 of 1898).
3.    One or more time deposits (other than a        (i) A banking company or a co-operative
      time deposit made through renewal of           bank to which the Banking Regulation Act,
      another time deposit) of a person              1949 (10 of 1949) applies (including any
      aggregating to ten lakh rupees or more in a    bank or banking institution referred to in
      financial year of a person.                    section 51 of that Act);
                                                     (ii) Post Master General as referred to in
                                                     clause (j) of section 2 of the Indian Post
                                                     Office Act, 1898 (6 of 1898);
                                                     (iii) Nidhi referred to in section 406 of the
                                                     Companies Act, 2013 (18 of 2013);
                                                     (iv) Non-banking financial company which
                                                     holds a certificate of registration under
                                                     section 45-IA of the Reserve Bank of India
                                                     Act, 1934 (6 of 1934), to hold or accept
                                                     deposit from public.




                                            5
Sl.        Nature and value of transaction              Class of person (reporting person)
No.
(1)                        (2)                                            (3)
4.    Payments made by any person of an               A banking company or a co-operative
      amount aggregating to--                         bank to which the Banking Regulation Act,
      (i) one lakh rupees or more in cash; or         1949 (10 of 1949) applies (including any
      (ii) ten lakh rupees or more by any other       bank or banking institution referred to in
      mode, against bills raised in respect of one    section 51 of that Act) or any other
      or more credit cards issued to that person,     company or institution issuing credit card.
      in a financial year.
5.    Receipt from any person of an amount            A company or institution issuing bonds or
      aggregating to ten lakh rupees or more in a     debentures.
      financial year for acquiring bonds or
      debentures issued by the company or
      institution (other than the amount received
      on account of renewal of the bond or
      debenture issued by that company).
6.    Receipt from any person of an amount            A company issuing shares.
      aggregating to ten lakh rupees or more in a
      financial year for acquiring shares
      (including share application money) issued
      by the company.
7.    Buy back of shares from any person (other       A company listed on a recognised stock
      than the shares bought in the open market)      exchange purchasing its own securities
      for an amount or value aggregating to ten       under section 68 of the Companies Act,
      lakh rupees or more in a financial year.        2013 (18 of 2013).
8.    Receipt from any person of an amount            A trustee of a Mutual Fund or such other
      aggregating to ten lakh rupees or more in a     person managing the affairs of the Mutual
      financial year for acquiring units of one or    Fund as may be duly authorised by the
      more schemes of a Mutual Fund (other            trustee in this behalf.
      than the amount received on account of
      transfer from one scheme to another
      scheme of that Mutual Fund).
9.    Receipt from any person for sale of foreign     Authorised person as referred to in clause
      currency including any credit of such           (c) of section 2 of the Foreign Exchange
      currency to foreign exchange card or            Management Act, 1999 (42 of 1999).
      expense in such currency through a debit
      or credit card or through issue of travellers
      cheque or draft or any other instrument of
      an amount aggregating to ten lakh rupees
      or more during a financial year.




                                             6
Sl.        Nature and value of transaction              Class of person (reporting person)
No.
(1)                        (2)                                           (3)
10.   Purchase or sale by any person of               Inspector-General      appointed     under
      immovable property for an amount of thirty      section 3 of the Registration Act, 1908 or
      lakh rupees or more or valued by the            Registrar or Sub-Registrar appointed
      stamp valuation authority referred to in        under section 6 of that Act.
      section 50C of the Act at thirty lakh rupees
      or more.
11.   Receipt of cash payment exceeding two           Any person who is liable for audit under
      lakh rupees for sale, by any person, of         section 44AB of the Act.
      goods or services of any nature (other than
      those specified at Sl. Nos. 1 to 10 of this
      rule, if any.)
12.   Cash deposits during the period 09th            (i) A banking company or a co-operative
      November, 2016 to 30th December, 2016           bank to which the Banking Regulation Act,
      aggregating to  (i) twelve lakh fifty           1949 (10 of 1949) applies (including any
      thousand rupees or more, in one or more         bank or banking institution referred to in
      current account of a person; or (ii) two lakh   section 51 of that Act);
      fifty thousand rupees or more, in one or        (ii) Post Master General as referred to in
      more accounts (other than a current             clause (j) of section 2 of the Indian Post
      account) of a person.                           Office Act, 1898 (6 of 1898)
13.   Cash deposits during the period 1st April,      (i) A banking company or a co-operative
      2016 to 9th November, 2016 in respect of        bank to which the Banking Regulation Act,
      accounts that are reportable under              1949 (10 of 1949) applies (including any
      Sl.No.12.                                       bank or banking institution referred to in
                                                      section 51 of that Act); (ii) Post Master
                                                      General as referred to in clause (j) of
                                                      section 2 of the Indian Post Office Act,
                                                      1898 (6 of 1898).";




                                             7
                                                                                Annexure B

   General Guidelines for Preparation of Statement of Financial Transactions (SFT)
Section 285BA of the Income Tax requires specified reporting persons to furnish statement
of financial transaction. Rule 114E of the Income Tax Rules, 1962 specifies that the
statement of financial transaction required to be furnished under sub-section (1) of section
285BA of the Act shall be furnished in Form No. 61A.
The prescribed schema, Report Generation and Validation Utility for Form No. 61A can be
downloaded from the Reporting portal under "Resources" tab.







Transaction Types
Reporting person/entity is required to furnish separate Form 61 A for each transaction type.
The transaction types under SFT have been categorised as under:
       ·   SFT- 001: Purchase of bank drafts or pay orders in cash
       ·   SFT- 002: Purchase of pre-paid instruments in cash
       ·   SFT- 003: Cash deposit in current account
       ·   SFT- 004: Cash deposit in account other than current account
       ·   SFT- 005: Time deposit
       ·   SFT- 006: Payment for credit card
       ·   SFT- 007: Purchase of debentures
       ·   SFT- 008: Purchase of shares
       ·   SFT- 009: Buy back of shares
       ·   SFT- 010: Purchase of mutual fund units
       ·   SFT- 011: Purchase of foreign currency
       ·   SFT- 012: Purchase or sale of immovable property
       ·   SFT- 013: Cash payment for goods and services
       ·   SFT- 014: Cash deposits during specified period (9th Nov to 30th Dec, 2016).
Identification of transactions to be reported
The first step in preparation of Statement of Financial Transactions (SFT) is to identify
transactions/persons/accounts which are reportable under Rule 114E. In the second step,
the reporting person/entity is required to submit details of transactions/persons/accounts
which are determined as reportable.
Aggregation Rule
Aggregation rule needs to be applied for specified transaction types to identify
transactions/persons/accounts which are reportable. Rule 114E specifies that the reporting
person shall, while aggregating the amounts for determining the threshold amount for
reporting in respect of any person ­
    (a) take into account all the accounts of the same nature maintained in respect of that
    person during the financial year;
   (b) aggregate all the transactions of the same nature recorded in respect of that person
   during the financial year;
   (c) attribute the entire value of the transaction or the aggregated value of all the
   transactions to all the persons, in a case where the account is maintained or transaction
   is recorded in the name of more than one person;
                                             8
The aggregation rule is applicable for all transaction types except SFT- 012 (Purchase or
sale of immovable property) and SFT- 013 (Cash payment for goods and services).
Reporting Format
Form No. 61A has four parts. Part A contains statement level information is common to all
transaction types. The other three parts relate to report level information which has to be
reported in one of the following parts (depending on the transaction type):
   ·   Part B (Person Based Reporting)
   ·   Part C (Account Based Reporting)
   ·   Part D (Immovable Property Transaction Reporting)
The applicability of the reporting format is discussed in following paragraphs.
Person Based Reporting (Part B)
Part B shall be used for person based reporting which is relevant to following transactions:
   ·   SFT- 001: Purchase of bank drafts or pay orders in cash
   ·   SFT- 002: Purchase of pre-paid instruments in cash
   ·   SFT- 005: Time deposit
   ·   SFT- 006: Payment for credit card
   ·   SFT- 007: Purchase of debentures
   ·   SFT- 008: Purchase of shares
   ·   SFT- 009: Buy back of shares
   ·   SFT- 010: Purchase of mutual fund units
   ·   SFT- 011: Purchase of foreign currency
   ·   SFT- 013: Cash payment for goods and services
For determining reportable persons and transactions, the reporting person/entity is required
to aggregate all the transactions of the same nature recorded in respect of the person during
the financial year (refer to the applicability of aggregation rule). In a case, where the
transaction is recorded in the name of more than one person, the reporting person/entity
should attribute the entire value of the transaction or the aggregated value of all the
transactions to all the persons.
The reporting person/entity is required to submit details of persons and transactions which
are determined as reportable. The reporting format also enables reporting person/entity to
furnish information relating to each individual product within a product type. E.g: if a person
has multiple credit cards and the aggregate value of the transactions in all credit cards
exceeds the threshold value, the aggregate transaction value will be reported in section B3
of form 61 A and the transactions pertaining to individual credit cards can be reported in
section B4 of form 61 A.
Account Based Reporting (Part C)
Part C shall be used for account based reporting which is relevant to following transactions:
   ·   SFT- 003: Cash deposit in current account
   ·   SFT- 004: Cash deposit in account other than current account
   ·   SFT- 014: Cash deposits during specified period (9th Nov to 30th Dec, 2016).
For determining reportable persons and accounts, the reporting person/entity is required to
take into account all the accounts of the same nature maintained in respect of that person
during the financial year and aggregate all the transactions of the same nature recorded in
respect of the person during the financial year (refer to the applicability of aggregation rule).
In a case where the account is maintained in the name of more than one person, the
                                               9
reporting person/entity should attribute the entire value of the transaction or the aggregated
value of all the transactions to all the persons. In case of SFT- 003 (Cash deposit or
withdrawals in current account), the threshold limit has to be applied separately to deposits
and withdrawals in respect of transactions. After identification of reportable persons and
accounts, the reporting person/entity is required to submit details of accounts which are
determined as reportable. Part C3 of the form 61 A has details of the accounts that need to
be reported along with the aggregate transaction values. Aggregation of transaction has the
same definition as explained in person based accounting.
Immovable Property Transaction Reporting (Part D)
Part D shall be used for reporting of purchase or sale of immovable property (SFT- 012). The
reportable immovable property transactions have to be determined by applying the threshold
limit. The reporting person/entity is required to submit specified details of immovable
property transactions which are determined as reportable.
Statement Type
One Statement can contain only one type of Statement. Permissible values for type of
Statement are:
   ·   NB ­ New Statement containing new information
   ·   CB ­ Correction Statement containing corrections for previously submitted
       information
   ·   ND - No Data to report
Statement Number and Statement ID
Statement Number is a free text field capturing the sender's unique identifying number
(created by the sender) that identifies the particular Statement being sent. The identifier
allows both the sender and receiver to identify the specific Statement later if questions or
corrections arise. After successful submission of the Statement to ITD, a new unique
Statement ID will be allotted for future reference. The reporting person/entity should maintain
the linkage between the Statement Number and Statement ID. In case the correction
statement is filed, statement ID of the original Statement which is being corrected should be
mentioned in the element `Original Statement ID'. In case the Statement is new and
unrelated to any previous Statement, `0' will be mentioned in the element `Original Statement
ID'.
Report Serial Number
The Report Serial Number uniquely represents a report within a Statement. The Report
Serial Number should be unique within the Statement. This number along with Statement ID
will uniquely identify any report received by ITD. In case of correction, the complete report
has to be resubmitted. The Report Serial Number of the original report that has to be
replaced or deleted should be mentioned in the element `Original Report Serial Number'.
This number along with Original Statement ID will uniquely identify the report which is being
corrected. In case there is no correction of any report, `0' will be mentioned in the element
`Original Report Serial Number'.
Form 61 Acknowledgement No.
If reporting person/entity has received declarations in Form 60 in respect of transactions
listed in Rule 114E, Form 61 is required to be furnished to ITD. As mentioned in Chapter I,
on successful loading of Form 61 (containing the particulars of Form 60), an
Acknowledgement No. would be generated which has to be mentioned at the time of filling
                                              10
Form No. 61A. Hence, unless Form 61 has been furnished, Reporting person/entity may
face difficulty in filling Form No. 61A. Accordingly, it is to be ensured that Form 61 is
furnished to the Department before Form 61A is filled.
Additional Resources
The reporting person/entity may refer to following resources released by the Directorate of
Systems:


 Report Generation and        User Manual to explain steps for preparation and upload of
 Validation Utility User      SFT (Form 61A)
 Guide-Form61A
 Reporting Portal User        User Guide to explain detail features of the Reporting Portal
 Guide
 Report Generation and        A brief guide for usage of Report Generation Utility for
 Validation Utility Quick     Form61
 Reference Guide ­Form
 61
 Report Generation and        A brief guide for usage of java for Form61A.
 Validation Utility Quick
 Reference Guide ­Form
 61A
 Report Generation and        A brief guide for usage of java for Form61B.
 Validation Utility Quick
 Reference Guide ­Form
 61B
 Report Generation and        User Guide to explain detail features of the java utility for
 Validation Utility User      filing Form61.
 Guide ­Form 61
 Report Generation and        Java utilities to assist the filer in preparation of SFT (Form
 Validation Utility User      61A) in the prescribed format.
 Guide - Form 61B

The developers who want to develop program to generate XML may refer to the following:

 Form 61A Schema              XSD file which contains the schema in which SFT (Form
                              61A) needs to be prepared and uploaded/submitted

 Toolkit For Reporting        Toolkit to assist the filer in understanding the Reporting
 Entities                     portal and guide for preparation of statements for different
                              forms.




                                             11
                                                                                  Annexure C

      Transaction Specific Guidelines for Preparation of Statement of Financial
                                Transactions (SFT)
Transaction specific guidelines for preparation of Statement of Financial Transactions (SFT)
are given in following paragraphs.

    SFT- 001: Purchase of bank drafts or pay orders in cash

     Transaction Code       SFT- 001

     Transaction            Purchase of bank drafts or pay orders or banker's cheque in cash
     Description

     Nature and value of Payment made in cash for purchase of bank drafts or pay orders
     transaction         or banker's cheque of an amount aggregating to ten lakh rupees
                         or more in a financial year.

     Class of person A banking company or a co-operative bank to which the Banking
     required to furnish Regulation Act, 1949 (10 of 1949) applies (including any bank or
                         banking institution referred to in section 51 of that Act).

     Remarks                    1. For purchase of bank drafts or pay orders or banker's
                                   cheques from a banking company or a co-operative bank
                                   to which the Banking Regulation Act, 1949 (10 of 1949),
                                   applies (including any bank or banking institution referred
                                   to in section 51 of that Act) it is obligatory to quote PAN for
                                   payment in cash for an amount exceeding fifty thousand
                                   rupees during any one day (refer Rule 114B)
                                2. All transactions of the same nature recorded in respect of
                                   person during the financial year should be aggregated
                                   (refer Rule114E)
                                3. The entire value of the transaction or the aggregated value
                                   of all the transactions should be attributed to all the
                                   persons, in a case where the transaction is recorded in the
                                   name of more than one person (refer Rule114E)
                                4. The relevant reporting format is Part A (Statement Details)
                                   and Part B (Report Details)
                                5. The Report Type should be specified as AF- Aggregated
                                   Financial Transactions (A.2.7)
                                6. One report would include details of one person along with
                                   transaction details
                                7. The Product Type should be specified as DD ­ Bank draft
                                   or pay order or banker's cheque (B.3.1)




                                             12
SFT- 002: Purchase of pre-paid instruments in cash

Transaction Code      SFT- 002

Transaction           Purchase of prepaid instruments in cash
Description
                      Payments made in cash aggregating to ten lakh rupees or
Nature and value of
                      more during the financial year for purchase of pre-paid
transaction
                      instruments issued by Reserve Bank of India under
                      section 18 of the Payment and Settlement Systems Act,
                      2007 (51 of 2007).

Class of person A banking company or a co-operative bank to which the
required to furnish Banking Regulation Act, 1949 (10 of 1949) applies
                    (including any bank or banking institution referred to in
                    section 51 of that Act).

Remarks                  1. For purchase of prepaid instruments from a banking
                            company or a co-operative bank to which the
                            Banking Regulation Act, 1949 (10 of 1949), applies
                            (including any bank or banking institution referred to
                            in section 51 of that Act) it is obligatory to quote
                            PAN for payment in cash for an amount exceeding
                            fifty thousand rupees during any one day (refer Rule
                            114B)
                         2. All transactions of the same nature recorded in
                            respect of person during the financial year should
                            be aggregated (refer Rule114E)
                         3. The entire value of the transaction or the
                            aggregated value of all the transactions should be
                            attributed to all the persons, in a case where the
                            transaction is recorded in the name of more than
                            one person (refer Rule114E)
                         4. The relevant reporting format is Part A (Statement
                            Details) and Part B (Report Details)
                         5. The Report Type should be specified as AF-
                            Aggregated Financial Transactions (A.2.7)
                         6. One report would include details of one person
                            along with transaction details
                         7. The Product Type should be specified as PI ­
                            Prepaid Instrument (B.3.1)




                                     13
SFT- 003: Cash deposit or withdrawals in current account

Transaction Code       SFT- 003

Transaction            Cash deposits or cash withdrawals (including through
Description            bearer's cheque) in current account.
                    Cash deposits or cash withdrawals (including through
Nature and value of
                    bearer's cheque) aggregating to fifty lakh rupees or more in a
transaction
                    financial year, in or from one or more current account of a
                    person.

Class of person A banking company or a co-operative bank to which the
required to furnish Banking Regulation Act, 1949 (10 of 1949) applies (including
                    any bank or banking institution referred to in section 51 of that
                    Act).

Remarks                   1. For deposits in a banking company or a co-operative
                             bank to which the Banking Regulation Act, 1949 (10 of
                             1949), applies (including any bank or banking
                             institution referred to in section 51 of that Act) it is
                             obligatory to quote PAN for payment in cash for an
                             amount exceeding fifty thousand rupees during any
                             one day (refer Rule 114B)
                          2. All the accounts of the same nature maintained in
                             respect of that person during the financial year should
                             be considered and the entire value of the transaction
                             or the aggregated value of all the transactions should
                             be attributed to all the persons, in a case where the
                             account is maintained in the name of more than one
                             person (refer Rule114E)
                          3. The threshold limit should be applied separately to
                             deposits and withdrawals (refer Rule114E)
                          4. Once the accounts to be reported are identified by the
                             aggregation rule, one report would include details of
                             one account alongwith details of account and related
                             persons
                          5. The relevant reporting format is Part A (Statement
                             Details) and Part C (Report Details)
                          6. The Report Type should be specified as BA ­
                             Bank/Post Office Account (A.2.7)
                          7. The Account Type should be specified as BC -
                             Current Account (C.2.1)




                                       14
SFT- 004: Cash deposit in account other than current account

Transaction Code      SFT- 004

Transaction           Cash deposits in one or more accounts (other than a current
Description           account and time deposit) of a person.
                    Cash deposits aggregating to ten lakh rupees or more in a
Nature and value of
                    financial year, in one or more accounts (other than a current
transaction
                    account and time deposit) of a person.

Class of person A banking company or a co-operative bank to which the
required to furnish Banking Regulation Act, 1949 (10 of 1949) applies (including
                    any bank or banking institution referred to in section 51 of that
                    Act).
                      Post Master General as referred to in clause (j) of section 2 of
                      the Indian Post Office Act, 1898 (6 of 1898).

Remarks                   1. For deposits in a banking company or a co-operative
                             bank to which the Banking Regulation Act, 1949 (10 of
                             1949), applies (including any bank or banking institution
                             referred to in section 51 of that Act) it is obligatory to
                             quote PAN for payment in cash for an amount
                             exceeding fifty thousand rupees during any one day
                             (refer Rule 114B)
                          2. All the accounts of the same nature maintained in
                             respect of that person during the financial year should
                             be considered and the entire value of the transaction or
                             the aggregated value of all the transactions should be
                             attributed to all the persons, in a case where the
                             account is maintained in the name of more than one
                             person (refer Rule114E)
                          3. Once the accounts to be reported are identified by the
                             aggregation rule, one report would include details of
                             one account alongwith details of account and related
                             persons
                          4. The relevant reporting format is Part A (Statement
                             Details) and Part C (Report Details)
                          5. The Report Type should be specified as BA ­
                             Bank/Post Office Account (A.2.7)
                          6. The Account Type should be specified as BS - Savings
                             Account or ZZ - Other Account (C.2.1)




                                      15
SFT- 005: Time deposit

Transaction Code      SFT- 005

Transaction           Time deposits (other than a time deposit made through renewal of
Description           another time deposit)
                    One or more time deposits (other than a time deposit made through
Nature and value of
                    renewal of another time deposit) of a person aggregating to ten lakh
transaction
                    rupees or more in a financial year of a person.
                      (i) A banking company or a co-operative bank to which the Banking
Class of person
                      Regulation Act, 1949 (10 of 1949) applies (including any bank or
required to furnish
                      banking institution referred to in section 51 of that Act);
                      (ii) Post Master General as referred to in clause (j) of section 2 of
                      the Indian Post Office Act, 1898 (6 of 1898);
                      (iii) Nidhi referred to in section 406 of the Companies Act, 2013 (18
                      of 2013);
                      (iv) Non-banking financial company which holds a certificate of
                      registration under section 45-IA of the Reserve Bank of India Act,
                      1934 (6 of 1934), to hold or accept deposit from public.

Remarks                  1. For payment for a credit card in a banking company or a co-
                            operative bank to which the Banking Regulation Act, 1949
                            (10 of 1949), applies (including any bank or banking
                            institution referred to in section 51 of that Act) it is obligatory
                            to quote PAN for payment in cash for any amount(refer Rule
                            114B)
                         2. All transactions of the same nature recorded in respect of
                            person during the financial year should be aggregated (refer
                            Rule114E)
                         3. The entire value of the transaction or the aggregated value of
                            all the transactions should be attributed to all the persons, in
                            a case where the transaction is recorded in the name of more
                            than one person (refer Rule114E)
                         4. The relevant reporting format is Part A (Statement Details)
                            and Part B (Report Details)
                         5. The Report Type should be specified as AF- Aggregated
                            Financial Transactions (A.2.7)
                         6. One report would include details of one person along with
                            transaction details
                         7. The Product Type should be specified as TD - Time Deposit
                            (B.3.1)




                                      16
SFT- 006: Payment for credit card

Transaction Code      SFT-006

Transaction           Payments made by any person in respect of one or more
Description           credit cards issued to that person, in a financial year.
                      Payments made by any person of an amount aggregating
Nature and value of
                      to--
transaction
                      (i) One lakh rupees or more in cash; or
                      (ii) Ten lakh rupees or more by any other mode, against
                      bills raised in respect of one or more credit cards issued to
                      that person, in a financial year.

Class of person A banking company or a co-operative bank to which the
required to furnish Banking Regulation Act, 1949 (10 of 1949) applies
                    (including any bank or banking institution referred to in
                    section 51 of that Act) or any other company or institution
                    issuing credit card.

Remarks                  1. For payment for a credit card in a banking company
                            or a co-operative bank to which the Banking
                            Regulation Act, 1949 (10 of 1949), applies
                            (including any bank or banking institution referred to
                            in section 51 of that Act) it is obligatory to quote
                            PAN for payment in cash for any amount(refer Rule
                            114B)
                         2. All transactions of the same nature recorded in
                            respect of person during the financial year should
                            be aggregated (refer Rule114E)
                         3. The entire value of the transaction or the
                            aggregated value of all the transactions should be
                            attributed to all the persons, in a case where the
                            transaction is recorded in the name of more than
                            one person (refer Rule114E)
                         4. The relevant reporting format is Part A (Statement
                            Details) and Part B (Report Details)
                         5. The Report Type should be specified as AF-
                            Aggregated Financial Transactions (A.2.7)
                         6. One report would include details of one person
                            along with transaction details
                         7. The Product Type should be specified as CC- Credit
                            Card (B.3.1)




                                      17
SFT- 007: Purchase of debentures

Transaction Code      SFT-007

Transaction           Purchase of debentures year for acquiring bonds or
Description           debentures issued by the company or institution.

Nature and value of Receipt from any person of an amount aggregating to ten
transaction         lakh rupees or more in a financial year for acquiring bonds or
                    debentures issued by the company or institution (other than
                    the amount received on account of renewal of the bond or
                    debenture issued by that company).

Class of person A company or institution issuing bonds or debentures.
required to furnish

Remarks                  1. For payment for acquiring bonds issued by any
                            institution it is obligatory to quote PAN for purchase of
                            bond of amount exceeding Rs 50,000/-(refer Rule
                            114B)
                         2. All transactions of the same nature recorded in
                            respect of person during the financial year should be
                            aggregated (refer Rule114E)
                         3. The entire value of the transaction or the aggregated
                            value of all the transactions should be attributed to all
                            the persons, in a case where the transaction is
                            recorded in the name of more than one person (refer
                            Rule114E)
                         4. The relevant reporting format is Part A (Statement
                            Details) and Part B (Report Details)
                         5. The Report Type should be specified as AF-
                            Aggregated Financial Transactions (A.2.7)
                         6. One report would include details of one person along
                            with transaction details
                         7. The Product Type should be specified as BD - Bonds
                            or Debentures (B.3.1)




                                      18
SFT- 008: Purchase of shares

Transaction Code      SFT-008

Transaction           Purchase of shares (including share application money)
Description           issued by the company.

Nature and value of Receipt from any person of an amount aggregating to ten
transaction         lakh rupees or more in a financial year for acquiring shares
                    (including share application money) issued by the
                    company.

Class of person A company issuing shares.
required to furnish

Remarks                  1. For payment for acquiring shares in any institution it
                            is obligatory to quote PAN for purchase of shares of
                            amount exceeding Rs 1,00,000/- (refer Rule 114B)
                         2. All transactions of the same nature recorded in
                            respect of person during the financial year should
                            be aggregated (refer Rule114E)
                         3. The entire value of the transaction or the
                            aggregated value of all the transactions should be
                            attributed to all the persons, in a case where the
                            transaction is recorded in the name of more than
                            one person (refer Rule114E)
                         4. The relevant reporting format is Part A (Statement
                            Details) and Part B (Report Details)
                         5. The Report Type should be specified as AF-
                            Aggregated Financial Transactions (A.2.7)
                         6. One report would include details of one person
                            along with transaction details
                         7. The Product Type should be specified as SI          ­
                            Shares issued (B.3.1)




                                      19
SFT- 009: Buy back of shares

Transaction Code      SFT-009

Transaction           Buy back of shares
Description

Nature and value of Buy back of shares from any person (other than the shares
transaction         bought in the open market) for an amount or value
                    aggregating to ten lakh rupees or more in a financial year.

Class of person A company listed on a recognised stock exchange
required to furnish purchasing its own securities under section 68 of the
                    Companies Act, 2013 (18 of 2013).

Remarks                  1. All transactions of the same nature recorded in
                            respect of person during the financial year should
                            be aggregated (refer Rule114E)
                         2. The entire value of the transaction or the
                            aggregated value of all the transactions should be
                            attributed to all the persons, in a case where the
                            transaction is recorded in the name of more than
                            one person (refer Rule114E)
                         3. The relevant reporting format is Part A (Statement
                            Details) and Part B (Report Details)
                         4. The Report Type should be specified as AF-
                            Aggregated Financial Transactions (A.2.7)
                         5. One report would include details of one person
                            along with transaction details
                         6. The Product Type should be specified as SB ­
                            Shares bought back (B.3.1)




                                     20
SFT- 010: Purchase of mutual fund units

Transaction Code      SFT-010

Transaction           Purchase of mutual fund units in a financial year for
Description           acquiring units of one or more schemes of a Mutual Fund

Nature and value of Receipt from any person of an amount aggregating to ten
transaction         lakh rupees or more in a financial year for acquiring units of
                    one or more schemes of a Mutual Fund (other than the
                    amount received on account of transfer from one scheme to
                    another scheme of that Mutual Fund).






Class of person A trustee of a Mutual Fund or such other person managing
required to furnish the affairs of the Mutual Fund as may be duly authorised by
                    the trustee in this behalf.

Remarks                   1. For payment for acquiring mutual funds of any
                             financial institution it is obligatory to quote PAN for
                             purchase of mutual fund of amount exceeding Rs
                             1,00,000/-(refer Rule 114B)
                          2. All transactions of the same nature recorded in
                             respect of person during the financial year should
                             be aggregated (refer Rule114E)
                          3. The entire value of the transaction or the
                             aggregated value of all the transactions should be
                             attributed to all the persons, in a case where the
                             transaction is recorded in the name of more than
                             one person (refer Rule114E)
                          4. The relevant reporting format is Part A (Statement
                             Details) and Part B (Report Details)
                          5. The Report Type should be specified as AF-
                             Aggregated Financial Transactions (A.2.7)
                          6. One report would include details of one person
                             along with transaction details
                          7. The Product Type should be specified as MF -
                             Mutual Fund (B.3.1)




                                       21
SFT- 011: Purchase of foreign currency

Transaction Code     SFT-011

Transaction          Purchase of foreign currency
Description

Nature and value of Receipt from any person for sale of foreign currency
transaction         including any credit of such currency to foreign exchange
                    card or expense in such currency through a debit or credit
                    card or through issue of travellers cheque or draft or any
                    other instrument of an amount aggregating to ten lakh
                    rupees or more during a financial year.

Class of person Authorised person as referred to in clause (c) of section 2
required to furnish of the Foreign Exchange Management Act, 1999 (42 of
                    1999).

Remarks                  1. For payment for acquiring foreign exchange from
                            any institution it is obligatory to quote PAN for
                            purchase of foreign currency in cash for amount
                            exceeding Rs 50,000/-(refer Rule 114B)
                         2. All transactions of the same nature recorded in
                            respect of person during the financial year should
                            be aggregated (refer Rule114E)
                         3. The entire value of the transaction or the
                            aggregated value of all the transactions should be
                            attributed to all the persons, in a case where the
                            transaction is recorded in the name of more than
                            one person (refer Rule114E)
                         4. The relevant reporting format is Part A (Statement
                            Details) and Part B (Report Details)
                         5. The Report Type should be specified as AF-
                            Aggregated Financial Transactions (A.2.7)
                         6. One report would include details of one person
                            along with transaction details
                         7. The Product Type should be specified as FC -
                            Foreign Currency (B.3.1)




                                     22
SFT- 012: Purchase or sale of immovable property

Transaction Code      SFT-012

Transaction           Purchase or sale of any person of immovable property.
Description

Nature and value of Purchase or sale by any person of immovable property for
transaction         an amount of thirty lakh rupees or more or valued by the
                    stamp valuation authority referred to in section 50C of the
                    Act at thirty lakh rupees or more.

Class of person Inspector-General appointed under section 3 of the
required to furnish Registration Act, 1908 or Registrar or Sub-Registrar
                    appointed under section 6 of that Act.

Remarks                  1. For payment for acquiring any immovable property
                            it is obligatory to quote PAN for purchase of amount
                            exceeding Rs 10,00,000/-(refer Rule 114B)
                         2. The relevant reporting format is Part A (Statement
                            Details) and Part D (Report Details)
                         3. The Report Type should be specified as IM -
                            Immovable Property Transactions (A.2.7)
                         4. One report would include details of one property
                            along with seller and purchaser details




                                     23
SFT- 013: Cash payment for goods and services

Transaction Code      SFT-014

Transaction           Cash payments for goods and services.
Description

Nature and value of Receipt of cash payment exceeding two lakh rupees for
transaction         sale, by any person, of goods or services of any nature
                    (other than those specified at Sl. Nos. 1 to 10 of Rule 114E)

Class of person Any person who is liable for audit under section 44AB of the
required to furnish Act.

Remarks                   1. For sale or purchase, by any person, of goods or
                             services of any nature it is obligatory to quote PAN
                             for amount exceeding two lakh rupees per
                             transaction: (refer Rule 114B)
                          2. The aggregation rule is not applicable           for
                             identification of reportable transactions
                          3. The relevant reporting format is Part A (Statement
                             Details) and Part B (Report Details)
                          4. The Report Type should be specified as AF-
                             Aggregated Financial Transactions (A.2.7).
                          5. The reporting format aggregates the transactions of
                             one person in one report
                          6. One report would include details of one person
                             along with transaction details
                          7. The Product Type should be specified as ZZ ­
                             Others (B.3.1)




                                      24
   SFT- 014: Cash deposits during specified period

Transaction Code      SFT- 014

Transaction           Cash deposits during the period 09th November, 2016 to 30th December,
Description           2016.
                 Cash deposits during the period 09th November, 2016 to 30th December,
Nature and value
                 2016 aggregating to  (i) twelve lakh fifty thousand rupees or more, in one or
of transaction
                 more current account of a person; or (ii) two lakh fifty thousand rupees or
                 more, in one or more accounts (other than a current account) of a person.
                      Cash deposits during the period 1st April, 2016 to 9th November, 2016 in
                      respect of accounts that are reportable.
                      i) A banking company or a co-operative bank to which the Banking
Class of person
                      Regulation Act, 1949 (10 of 1949) applies (including any bank or banking
required to furnish
                      institution referred to in section 51 of that Act);
                      (ii) Post Master General as referred to in clause (j) of section 2 of the Indian
                      Post Office Act, 1898 (6 of 1898)

Remarks                  1. The due date for furnishing statement containing details of cash
                            deposits during the period 09th November, 2016 to 30th December
                            (SFT-014) is 31st January, 2017.
                         2. For deposits in a banking company or a co-operative bank to which
                            the Banking Regulation Act, 1949 (10 of 1949), applies (including
                            any bank or banking institution referred to in section 51 of that Act) it
                            is obligatory to quote PAN for payment in cash for an amount
                            exceeding fifty thousand rupees during any one day or aggregating
                            to more than two lakh fifty thousand rupees during the period 09th
                            November, 2016 to 30th December, 2016." (refer Rule 114B)
                         3. All the accounts of the same nature maintained in respect of that
                            person during the financial year should be considered and the entire
                            value of the transaction or the aggregated value of all the
                            transactions should be attributed to all the persons, in a case where
                            the account is maintained in the name of more than one person.
                            (refer Rule114E)
                         4. Once the accounts to be reported are identified by the aggregation
                            rule, one report would include details of one account.
                         5. The relevant reporting format is Part A (Statement Details) and Part
                            C (Report Details)
                         6. The Report Type should be specified as BA ­ Bank/Post Office
                            Account (A.2.7)
                         7. The Account Type should be specified as BS (Savings Account), BC
                            (Current Account) or ZZ (Other Account)




                                             25
                                                                               Annexure D
        Modification / Changes in schema / data structure of Form No. 61A

#    Field         Existing Values                  Proposed Values

1.   Person         IN - Individual                 IE- Individual without PAN which has
     Type           SP- Sole Proprietorship         submitted Form 60 or who is exempted
     (B.2.2)/       PF- Partnership Firm            under Rule 114B
     (C.4.3)/       HF - HUF                        IN- Individual not covered by above
     (D.3.4)        CR - Private Limited            category (IE)
                    Company                         GO- Central Government, the State
                    CB - Public Limited             Governments
                    Company                         LE: Consular Offices or other entity
                    SO - Society                    exempted under Rule 114B
                    AO - Association of              SP- Sole Proprietorship
                    persons/Body of individuals      PF- Partnership Firm
                    TR - Trust                       HE - HUF without PAN which has
                    LI - Liquidator                  submitted Form 60
                    LL - LLP                         HF ­ HUF not covered by above category
                                                     (HE)
                    ZZ - Others
                                                     CR - Private Limited Company
                   XX ­ Not Categorised
                                                     CB - Public Limited Company
                                                     SO - Society
                                                     AO - Association of persons/Body of
                                                     individuals
                                                     TR - Trust
                                                     LI - Liquidator
                                                     LL ­ LLP
                                                     ZZ - Others
                                                    XX ­ Not Categorised

2.   Statement      NB ­ New Statement              NB ­ New Statement containing new
     Type           containing new information      information
     (A.2.1)        CB ­ Correction Statement       CB ­ Correction Statement containing
                        containing corrections           corrections for previously submitted
                        for previously submitted         information
                        information                 DB- Deletion Statement for deletion of
                    ND ­ No Data to report               previously submitted information
                                                    ND ­ No Data to report
3.   Financial      Aggregate gross amount          Aggregate gross amount received from the
     Transaction    received from the person        person (4.3)
                    (4.2)
     Details
     (B.4)




                                               26

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