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DG IT( S)/ADG( S )-21Reporting Portal/202 t /180
Government of India
Ministry of Finance
Central Board of Direct Taxes
Directorate of Income Tax (Systems)
Notification No.1- of 202S
New Delhi, 5)01/202-3
Addendum to Notification 2 of 2021 : Format, Procedure and Guidelines for
submission of Statement of Financial Transactions (SFT) for Interest income
(Abolishing of limit of Rs 5,QOOH.
Section 285BA of the Income Tax Act, 1961 and Rule 114E requires specified reporting
persons to furnish statement of financial transaction (8FT). For the purposes of prefilling the
return of income, CBDT has issued Notification No. 16/2021 dated 12.03.2021 to include
reporting of information relating to interest income. The Format, Procedure and Guidelines
for submission of Statement of Financial Transactions (SFT) for Interest income was notified
via Notification 2 of 2021 dated 20th April 2021.
2.
As per sub-rule (4)(b) of Rule 114E Director General of Income-tax (Systems) shall
specify the procedures, data structures and standards for ensuring secure capture and
transmission of data, evolving and implementing appropriate security, archival and retrieval
policies.
3.
The Remarks column point 1 at Annexure A--
Guidelines for Preparation of
Statement of Financial Transactions (SFT) mentioned "The information is to be reported for
all account/deposit holdors where cumulative interest exceeds Rs 5,0001 per person in the
financial yeaf'.
4.
The Remarks column at Annexure A is hereby being modified and may be read as
~ The information is to be reported for all account/deposit holders where any interest exceeds
zero per account in the financial year excluding Jan Dhan Accounts".
5.
In the view of the changes mentioned above, the limit prescribed in Notification 2 of
2021 dated 201h April 2021 stands abolished and this addendum will come into effect from
05/01/').0')..3 .
DGIT (Syste
)-2, CBDT
Copy to:
1. PPS to the Chairman and Members, CBDT, North Block, New Delhi.
2. All Pro Chief Commissioners! Pr. Director Generals of Income Tax and all Chief
Commissioners! Director Generals of Income Tax - with a request to circulate amongst
all officers in their regionsl charges.
3. JS (TPL)-1 &21 Media coordination and Official spokesperson of CBDT
4. DIT (IT)! DIT (Audit)! DIT (Vig.)! ADG (System) 1, 2, 3, 4, 5,6 ! CIT (CPC) Bangalore,
CIT (CPC-TDS) Ghaziabad.
5. ADG (PR, PP&OL) with a request for advertisement campaign for the Notification
6. TPL and ITA Divisions of CBDT.
7. The Institute of Chartered Accountants of India, IP Estate, New Delhi.
8. Web Manager, "incometaxindia.gov.in" for hosting on the website.
9. Database cell for uploading on www.irsofficersonline.gov.in and in DGIT (S) Corner.
10. ITBA publisher for uploading on IT8A portal.
~-t..~
(Manish Mishra)
ADG(Systems)-2 CBDT
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