SFT Interest Income Reporting Limit Abolition Addendum

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.

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'.

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".

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:

PPS to the Chairman and Members, CBDT, North Block, New Delhi.

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.

JS (TPL)-1 &21 Media coordination and Official spokesperson of CBDT

DIT (IT)! DIT (Audit)! DIT (Vig.)! ADG (System) 1, 2, 3, 4, 5,6 ! CIT (CPC) Bangalore, CIT (CPC-TDS) Ghaziabad.

ADG (PR, PP&OL) with a request for advertisement campaign for the Notification

TPL and ITA Divisions of CBDT.

The Institute of Chartered Accountants of India, IP Estate, New Delhi.

Web Manager, "incometaxindia.gov.in" for hosting on the website.

Database cell for uploading on www.irsofficersonline.gov.in and in DGIT (S) Corner.

ITBA publisher for uploading on IT8A portal. -t.. (Manish Mishra) ADG(Systems)-2 CBDT /