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Thursday, 1 June 2017

CBDT extend the Due Date for furnishing Statement of Financial Transaction (SFT) 30th Jun

CBDT has been released the Press Release regarding the extend the Due Date of Statement Of Financial Transaction(SFT) to 30th June.

CBDT Extend the SFT Due Date, Click here to Download the Press Release

          The Statement of Financial Transactions under Rule 114E (5) of the Income Tax Rules, 1962, (the Rules) read with sub-section (1) of section 285BA of the Income Tax Act, 1961, (the Act) is 31st May, immediately following the Financial Year in which the transaction is registered or recorded, i.e for Assessment Year 2017-18 the last date for furnishing the said statement was 31st May 2017.

          Representations were received in the Board requesting for extension of the date of filing of the said statement of financial transactions on account of the teething problems arising and the volume of data to be compiled. In view of the said representations and in order to remove inconvenience and to facilitate ease of compliance, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Act, has extended the date of furnishing of the statement of financial transactions under Rule 114E (5) of the Rules, read with sub-section (1) of section 285BA of the Act for Assessment Year 2017-18 from 31st May 2017 to 30th June 2017 in case of persons throughout India who are liable to furnish the said statement.   

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