Attention Reporting Entities: Last Date to file SFT for FY 2023-24 is 31st May 2024

The Income Tax Department has notified the reminder for the filing of Statements of Financial Transactions ( SFT ) by the Reporting Entities ( RE ) for the Financial Year ( FY ) 2023-24. The last date to file SFT is 31st may 2024.

Here’re the points you should not as a Reporting Entity :

1. Delay in filing of SFT may entail penalty up to Rs. 1000/- for each day of default.
2. Non-filing or filing inaccurate statements may also lead to levy of penalty.
3. Please file your report early to avoid last minute rush.

If not already registered, reporting entities are advised to complete their registration on the e-filing portal before proceeding with filing reports via the Insight reporting portal. For report submission, please visit https://report.insight.gov.in.

Sub-Registrars are encouraged to submit their statements to TIN facilitation centres. For further details, please visit www.tin-nsdl.com.

SFT encompasses specific or reportable financial activities occurring within a financial year. These transactions include the purchase of mutual funds, stocks, cash deposits exceeding Rs 10 lakhs, and more.

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