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  1. report.insight.gov.inIncome Tax Department | Reporting Portal | Project Insight

    Apr 3, 2024 · Income Tax Department | Reporting Portal | Project Insight. There is no requirement to file "NIL" report in Form 61A for any SFT. Note: Filing of Form 61B is mandatory for all RFI even if there is "NIL" Reportable Account for the relevant period.

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      The portal can be accessed at https://report.insight.gov.in....

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      15.5 Uploading the Generated Package at Reporting Portal for...

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  2. cleartax.in › s › sftSFT - Statement Of Financial Transaction - ClearTax

    SFT / Statement of Financial Transaction under Section 285BA is a report of specified financial transactions by specified persons including prescribed reporting financial institution. Read this article to know more about SFT Rules, Forms, Due Dates, Remedies & consequences.

    Si. No
    Nature Of Transaction To Be Reported
    Monetary Threshold Of Transaction
    Specified Person Required To Submit Sft
    1
    Cash payment purchase of bank drafts or ...
    Aggregating to Rs.10 lakh or more in an ...
    A banking company or co-operative bank to ...
    1
    Cash payments for the purchase of ...
    Aggregating to Rs.10 lakh or more during ...
    A banking company or co-operative bank to ...
    1
    Cash deposits or withdrawals from one or ...
    Aggregating to Rs.50 lakh or more in an ...
    A banking company or co-operative bank to ...
    2
    Cash deposits in one or more accounts ...
    Aggregating to Rs.10 lakh or more in an ...
    A banking company or co-operative bank to ...

    See full list on cleartax.in

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  4. cleartax.in › s › form-61aForm 61A – Statement of Specified Financial Transactions (SFT)

    • Which Are The Specified Financial Transactions?
    • Due Date to File Form 61A
    • Who Is Required to Furnish Form 61A
    • Filing Nil Statement
    • Filing of Statement of Financial Transactions (SFT) Online
    • Different Parts of Form 61A
    • Rules of Aggregation

    The specified financial transactions referred above are of the following kinds: 1. Sale, purchase or exchange of goods, right, property, or interest in any property. 2. Works contract. 3. Providing services. 4. Any investment made or expenditure incurred. 5. Accepting any deposit or taking any loan. It is important to note that CBDT can recommend d...

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    Statement of Financial Transactions needs to be furnished within 31st Mayof next year for every previous financial year where the transaction occurs. A penalty under Section 271FA of Rs 500 per day shall be levied for the initial failure to file within the due date. The authorities would issue a notice to such an assessee, demanding the assessee to...

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    A banking company, Cooperative bank
    A non-banking financial company (NBFC)
    Any institution issuing credit card
    Any person covered under audit under section 44AB iof the Income Tax Act.

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    There’s a dilemma many have that if an entity that hasn’t entered into any of Specified financial transactions in the financial year but falls into the reporting class of person as provided under the provisions of the Income Tax Act – Do they need to file a NIL Form 61A/Statement of financial transactions. There have been few circulars issued by th...

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    Step 1: Register on the Reporting portal under My Account menu.
    Step 2: All statements uploaded to the Reporting Portal should be in the XML format consistent with the prescribed schemapublished by the Income Tax Department.
    Step 3: Once XML is generated, sign and encrypt the XML using the Submission utility and prepare a packageto be uploaded.
    Step 4: Submit the statement on Reporting Portal.  Upon successful submission, an email with “Acknowledgment Number”will be sent to the registered email id.

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    Form 61A has two parts: 1. Part A which contains statement level information is common for all transaction types. 2. The report level information has to be reported in one of the following parts (depending on the transaction type): – 2.1. Part B (Reporting of aggregated financial transactions by the person) 2.2. Part C (Reporting of bank accounts) ...

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    Threshold limit shall be applied on the aggregate of the following:

    1. All accounts of same nature 2. All transactions of same nature 3. In case of joint accounts, amount to each account holders is added 4. Limit should be applied seperatley to deposits and withdrawals

    Exceptions to above rules:

    1. Purchase and sale of immovable properties 2. Cash payment for goods and services

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  5. taxguru.in › income-tax › statement-financialSFT Form 61A filing & Submitting SFT Preliminary Response

    Aug 9, 2020 · To access the portal, visit the URL: https://report.insight.gov.in. The step-by-step process to registering through this portal is as follows: Log in on e-filing portal and select Reporting Portal under My Account. Select New Registration and click on Continue.

  6. report.insight.gov.in › reporting-webapp › loginIncome Tax Department | Reporting Portal | Project Insight

    Login Page. Sitemap | Terms and Conditions | Websites Policies Copyright © Income Tax Department, Ministry of Finance, Government of India.

  7. www.incometax.gov.inHome | Income Tax Department

    e-filing and Centralized Processing Center. e-Filing of Income Tax Return or Forms and other value added services & Intimation, Rectification, Refund and other Income Tax Processing Related Queries

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  9. taxguru.in › income-tax › how-to-register-and-submitHow to register and submit statement of financial ...

    Apr 5, 2018 · 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.