1
DGIT(S)/ADG(S)2/Reporting Portal/2021/180
Government of India
Ministry of Finance
Central Board of Direct Taxes
Directorate of Income Tax (Systems)
Notification No. 1 of 2021
New Delhi, 20 April, 2021
Format, Procedure and Guidelines for submission of Statement of Financial Transactions
(SFT) for Dividend income
Section 285BA of the Income Tax Act, 1961 and Rule 114E requires specified reporting persons
to furnish statement of financial transaction (SFT).
2.
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 dividend income.
The new sub rule 5A of rule 114E specifies that the information shall be furnished in such
form, at such frequency, and in such manner, as may be specified by the Director General of
Income Tax (Systems), with the approval of the Board.
3.
The guidelines for preparation and submission of Statement of Financial Transactions
(SFT) information are enclosed in Annexure A and Annexure B respectively. The data
structure and validation rules are enclosed in Annexure C and Annexure D respectively.
Notification No. 3 of 2018 Dated 5.04.2018 may be referred for the procedure for registration.
4.
Reporting entities are required to prepare the data file in prescribed format from their
internal system. An excel based report preparation utility has also been provided to assist
small reporting entities in preparing data file. The data files prepared by internal
system/report preparation utility should be validated using Text File Validator/Submission
Utility. After validation, the text file is required to be compressed, encrypted and signed using
the
Text
File
Submission
Utility
before
uploading
on
the
reporting
portal
(https://report.insight.gov.in/). Reporting entities, having large number of data files, can also
submit the data files using SFTP Server (specific request may be made for SFTP upload).
5.
The statement of financial transactions shall be furnished on or before the 31 st May,
immediately following the financial year in which the transaction is registered or recorded.
6.
The statement of financial transaction shall be signed, verified and furnished by the
specified Designated Director. Where the reporting person is a nonresident, the statement
may be signed, verified and furnished by a person who holds a valid power of attorney from
such Designated Director. The data files are required to be uploaded at the reporting portal
through the login credentials (PAN and password) of the designated director.
Format, Procedure and Guidelines for submission of SFT for Dividend income
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Annexure A
Guidelines for Preparation of Statement of Financial Transactions (SFT)
Transaction Code
SFT 015
Transaction Description
Dividend income
Nature
and
value
of
transaction
Dividend distributed during the financial year.
Class of person required to
furnish
A company paying dividend.
Remarks
1. The information is to be reported for all dividend
distributed during the financial year.
2. One report would include details of dividend
payment to one person.
3. Dividend will be the total amount of dividend
distributed during the financial year.
Format, Procedure and Guidelines for submission of SFT for Dividend income
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Annexure B
Guidelines for Submission of Statement of Financial Transactions (SFT)
1. Any file which does not meet the validation requirements will be rejected.
2. After upload each upload file will be given unique Statement ID.
3. The file upload status will be as below:
•
Uploaded File uploaded and pending for processing.
•
Accepted File accepted after processing.
•
Rejected File rejected after processing.
4. In case of any error, complete file will be rejected and the rejection reason(s) can be
viewed by clicking Rejected link under status column. User need to correct the
relevant error(s) and upload the file again.
5. In case Reporting Entity needs to modify uploaded data, Correction Statement is
required to be filed. In the Correction Statement, only those reports should be
uploaded in which correction is required. Statement ID of the original Statement
which is being corrected should be selected while uploading. The Report Serial
Number (RSN) along with Original Statement ID will uniquely identify the report which
is being corrected. If the correction statement is successfully accepted, the reports in
the earlier statement will be marked as inactive and the newly uploaded report will
be active.
6. In case Reporting Entity needs to delete uploaded data, Deletion Statement is
required to be filed. In the Deletion Statement, only those reports should be uploaded
which are to be deleted. Statement ID of the original Statement which is being deleted
should be selected while uploading. The Report Serial Number (RSN) along with
Original Statement ID will uniquely identify the report which is being deleted. If the
Deletion Statement is successfully accepted, the reports in the earlier statement will
be marked as inactive.
Format, Procedure and Guidelines for submission of SFT for Dividend income
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Annexure C
Data Structure
The information is required to be uploaded in data file. The data file should be in ASCII format
with one report per line. All fields in each file should be delimited with the delimiter “|”. The
data structure is as under:
#
Field
Format
Mandatory
Remarks
1. RSN
Num (10)
Y
Report Serial Number is the unique number
to identify each report in the file.
2. FY
Num(4)
Y
Financial Year (2020 for FY 202021)
3. Name
Char (150)
Y
Name of the person/ Entity
4. PAN
Char (10)
Y
PAN of the person. Mention PANNOTAVBL
if PAN is not available
5. Aadhaar
Char (15)
Aadhaar of the person.
6. Address
Char (600)
Y
Complete Address
7. Pincode
Num (6)
Pincode of the person/ entity
8. Mobile
Char (20)
Mobile Number of the person
9. Email
Char (100)
eMail Id of the person
10. Dividend
Num (15)
Y
Total dividend paid/ credited during the
year (rounded off in nearest rupee)
Note: The first record in the file should contain header text. There should not be any blank
row(s) between reports.
Format, Procedure and Guidelines for submission of SFT for Dividend income
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Annexure D
Validation Rules
Upload Level Validations
Upload level validation would be done to ascertain that the correct file is being uploaded. The
file would be rejected at the upload stage if it does not clear the upload level validations.
#
Validation
Error Message
1.
File should not be more than
prescribed size
File is more than prescribed size (refer User
Guide). Please split the file.
2.
File name should not have been
uploaded earlier (Only for original
statement)
The file name has already been uploaded
earlier.
3.
File Name is not in the specified
format
File Name is not in the specified format.
Name of File prepared by the utility should
not be modified manually.
4.
The entered Statement ID should be
available (For Correction/ Deletion)
The entered Statement ID is not available.
Please provide Statement ID generated for
original file to submit correction/ deletion.
5.
ITDREIN in the file name should
match with the ITDREIN mentioned
on Portal
ITDREIN in the file does not match with the
ITDREIN mentioned on Portal
File Level Validations
Any file which does not meet the following requirements will be rejected.
#
Validation
Error Message
1.
File should be generated using
Submission Utility
File should be generated using Submission
Utility.
2.
The header in file should be as per
specified format
The header in file should be as per specified
format.
3.
Failed Decryption
Failed Decryption. Please encrypt the file
with a valid key using Validation and
Encryption Utility and resubmit.
4.
Failed Decompression
Failed Decompression. Please compress the
file using Validation and Encryption Utility
and resubmit.
5.
Failed Signature Check
Failed Signature Check. Please sign the file
with the Digital Signature using Validation
and Encryption Utility and resubmit.
6.
Signature Mismatch
Digital Signature used in file for signing does
not match with Digital Signature registered
on Reporting Portal. Please resign the file
with the Digital Signature of the Designated
Director.
