MANU/CBDT/0035/2021

Ministry : Ministry of Finance

Department/Board : CBDT

Notification No. : 01 of 2021

Date : 20.04.2021

Notification/ Circulars Referred : Notification No. 16/2021 dated 12.03.2021 MANU/CBDT/0017/2021;Notification No. 3 of 2018 Dated 5.04.2018 MANU/CBDT/0021/2018

Citing Reference:
Notification No. 16/2021 dated 12.03.2021 MANU/CBDT/0017/2021  Referred

Notification No. 3 of 2018 Dated 5.04.2018 MANU/CBDT/0021/2018  Referred

Format, procedure and guidelines for submission of Statement of Financial Transactions for Dividend income

Section 285BA of the Income Tax Act, 1961 and Rule 114E requires specified reporting persons to furnish statement of financial transaction (SFT).

2. For the purposes of pre-filling the return of income, CBDT has issued Notification No. 16/2021 dated 12.03.2021 to include reporting of information relating to dividend income. The new sub rule 5A of rule 114E specifies that the information shall be furnished in such form, at such frequency, and in such manner, as may be specified by the Director General of Income Tax (Systems), with 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 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 fil........