1. Submission of Statement of Financial Transactions (SFT) in Form 61A
Directorate of Income Tax
(Intelligence and Criminal Investigation), New Delhi
May, 2017

2. Scheme of Presentation
Background
Registration by Filer
Guidelines for Preparation of SFT
Report Preparation
Report Submission/Upload

3. Background

4. Objective
To keep watch on high value transactions undertaken by taxpayers
To detect non-filers and stop-filers of income tax returns
To check tax evasion and to curb black money

5. Legal Framework
Obligation to furnish Statement of Financial Transactions (SFT)
Section 285BA
Furnishing of Statement of Financial Transactions in Form 61A
Rule 114E
Format and Instructions
Form 61A

6. Obligation of large businesses/companies
Cases covered u/s 44AB of the IT Act (compulsory Audit)
S. No. 13 under Rule 114E
Receipt of cash payment exceeding Rs 2 lakh for sale of any goods/services
SFT to be furnished on or before 31st May, 2017 for transactions relating to financial year

7. Obligation of Registrar of Property
IG (Registration)under section 3 of the Registration Act, 1908 or Registrar/Sub-Registrar appointed u/s 6 of that Act
S. No. 10 under Rule 114E
Purchase/sale by any person of immovable property for Rs 30 lakh or more (or valued by Registrar for Rs 30 lakh or more) registered before it during FY
SFT to be furnished on or before 31st May, 2017

8. How different from preceding years for Registrar of Properties
Requires on-line Registration with IT Department using TAN
No Registration required
To be prepared in XML Format
Furnished in XL Sheet
To be furnished by 31st May
Furnished by 31st August
NO CHANGE
Furnished to TIN-FC

9. Resources for Furnishing Form 61A (https://incometaxindiaefiling. gov
User Manual for ITDREIN Registration and Upload
User Manual to explain steps in registration of filer and upload of SFT (Form 61A)
User Manuals section under the Help Button on E- Filing portal Home page
SFT Report Generation Utility User Guide
User Guide to explain steps in using the Java utility to assist the filer in preparation of SFT in XML file
SFT Quick Reference Guide
One page document with steps for preparation of SFT
SFT Report Generation Utility
Java utility to assist the filer in preparation of SFT (Form 61A) in XML file -
Forms (Other than ITR) link under the Downloads Section on E-Filing portal Home page
Form 61A Schema (For Developers)
XSD file which contains the schema in which Form 61A needs to be prepared and uploaded/submitted
Schema link under the Downloads Section on E-Filing portal Home page

10. Documents on e-filing portal

11. Registration

12. Income Tax Department Registered Entity Identification Number
ITDREIN
Income Tax Department Registered Entity Identification Number
Unique ID - will be communicated on registration by the third party
16-character number in the format XXXXXXXXXX.AZNNN
Entity having PAN can take only PAN based ITDREIN. TAN for Sub-Registrars
ITDREIN component
Description
XXXXXXXXXX
PAN or TAN of the reporting entity A
Code of Form Code Z
Code of Reporting Entity Category for the Form Code
NNN
Code of sequence number.

13. Generate ITDREIN - Steps
Login to e-Filing portal using User ID, e-Filing Password and DOI 1
Go to My Account >> Manage ITDREIN 2
To generate new ITDREIN click : “Generate New ITDREIN” 3 4
A Pop up with Form Type and Reporting Entity Category is displayed. Select Form Type and Reporting Entity Category from dropdown
Based on the Form Type and Reporting Entity Category selected, the ITDREIN will be generated and the user will be able to upload and view the corresponding Form. 5
Click Generate ITDREIN button 6

14. Click on the link provided in the ITDREIN Column
Add Authorised Person
Click on the link provided in the ITDREIN Column 1
Click on the button Add Authorised Person 2
A Pop up with Authorised Person details appears 3
Enter the details and Click on Add Authorised Person button 4

15. Activation of Account
User receives a confirmation on successful addition of Authorised Person to the registered ID. An SMS is also sent to the registered Mobile number
Authorised Person receives a confirmation with an activation link to the Authorised Person’s ID. An SMS along with OTP (One time Password) is sent to the Authorised Person’s Mobile Number.
In order to activate the account, the user should click on the Activation link, enter the Mobile PIN, Password and Confirm Password and click on Activate Button.
On success, the user account is activated and the database is updated

16. Manage Authorised Person
Click on the ITDREIN to view Authorised Person
Click on Add Authorised person to add another Authorised Person
Click on the De-activate link to de-activate the Authorised Person.

17. Guidelines for Preparation of SFT

18. Preparation of SFT – Key Issues
Identification of transactions to be reported
Form 61 Acknowledgement No.
Auditable cases
Receipt of cash payment exceeding Rs 2 lakh for sale of any goods/services
Registrar of property
Purchase/sale by any person of immovable property for Rs 30 lakh or more (or valued by Registrar for Rs 30 lakh or more)
To be entered into against persons who have given Form 60 in lieu of PAN

19. Furnishing Form 61
Form 60 to be obtained from all persons without PAN, where value of property is Rs 10 lakh or more (for sale/purchase of immovable property), and for sale of goods/services for amount exceeding Rs 2 lakh
Enter the particulars of Form 60 in Form 61
Furnish Form 61 to the Department
Receive Acknowledgement No. of Form 61

20. Preparation of SFT – Report Format
PART A : contains statement details, which is common to all transaction types
Relevant for furnishing Form 61A by auditable cases
PART B : Person Based Reporting
PART C : Account based Reporting
User will be able to view only two parts – Part A, which is mandatory and other one amongst Part B/C/D.
PART D : Immovable Property Transaction Reporting
Relevant for furnishing Form 61A by Registrar of Properties

21. Relevant format for report details
Transaction Type
Relevant format for report details
SFT- 001: Purchase of bank drafts or pay orders in cash 
Part B (Person Based Reporting)
SFT- 002: Purchase of pre-paid instruments in cash
SFT- 003: Cash deposit in current account
Part C (Account Based Reporting)
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
Part D (Immovable Property Transaction Reporting)
SFT- 013: Cash payment for goods and services
SFT- 014: Cash deposits during specified period

22. Report Preparation

23. Report Generation Utility
Generate and validate XML Reports
Perform preliminary rule validation of XML file using rules
Show the underlying data elements causing error if the report is also linked to the utility
Open and Save draft reports

24. Utility on e-filing Portal

25. Deploying Utility
Go to e-filing portal at
Click on the Forms (other than ITR) tab under the Downloads section.
Click on the Download link against Form 61A to download the Utility
Download Utility
Operating System : Windows 7.1 and Above
 Java Runtime Environment (JRE) version 1.8 Update 101 or later available at
Pre-requisites
Extract the downloaded file to the folder using tools like WinZip or WinRAR.
Go to the folder where the contents of the Utility have been extracted and click on jar file. It displays the General Instructions window
Running the Utility

26. Preparation of SFT
Select the Transaction Type on General Instructions window 1 2
Capture Statement Details
Click on Export CSV button to download CSV Template 3
Save the CSV at desired location 4 5
Open the CSV file and fill the details by data entry or pasting values 6
Click on Import CSV button
Select the pre saved CSV from file system and then click on Open button to upload 7

27. Select SFT Code

28. Capture Statement Details

29. Capture Report Details by Importing CSV

30. Capture Report Details by Data Entry
Click on Add Row button to add a new information record
Click on Delete Row button to delete the selected information record
Click on Edit Row button to edit the selected information record

31. Validation of SFT Click on Validation button on the toolbar1
Utility will display validation errors on Validation Tab 2
Click on Validation row to see details of Validation errors on the right window pane of screen 3

32. Correction of Errors
Click on any particular validation error from list, utility will show the field highlighted in red, where corrections can be made
Fix the errors and then click on Validate button again to check whether error has been removed.
If there are no validation errors, “Validation Successful” dialog box is displayed to the user.

33. Click on Generate XML and Save XML

34. Report Upload/Submission

35. Report Submission by Registrar of Property
Go the nearest TIN-FC
List of TIN-FC can be downloaded from the website
Submit Part A and Part D (XML file in CD/DVD format to the TIN-FC)
Obtain Acknowledgement

36. Report Upload (for auditable cases)
Upload on e-filing Portal (
User Manual for ITDREIN Registration and Upload of Forms

37. Login to e-Filing portal
Login to e-Filing portal using ITDREIN, Authorised Person PAN and Password
Based on the Form Type and Reporting Entity Category selected during registration, the ITDREIN user will be able to upload and view the corresponding Form
Go to e-File >> Upload Form 61A

38. Upload Form 61A The upload screen will have the following details.
Attach the Form 61A (.zip) File along with the Signature file and click on “Upload”.

39. Acknowledgement of Successful upload
On successful validation, the success message shall be displayed

40. Status of Submitted Report
This status will initially be displayed as “Uploaded”
If the Uploaded Form is processed then Filing status shall be updated based on the validation done on the uploaded file and displayed as Accepted/Rejected
The updated status can be checked by the user after 24 Hours of upload.

41. Viewing Error Description
If the status is “Rejected” then the following screen is displayed to the user
By clicking on “Transaction No”, the error description is displayed on the screen

42. Thank You Contact us : varun. batra@incometax. gov
Thank You Contact us : (mobile : )