Code SFT- 011 mention in form 26 AS

This discussion addresses how to handle the SFT-011 code appearing on Form 26AS, which signifies the purchase of foreign currency totalling £10 lakh or more in a financial year. The specific case involves funds sent for a son's studies abroad. While the transaction itself doesn't need explicit mention in the Income Tax Return (ITR), taxpayers should be prepared to disclose the source of funds if queried. If the money was a loan from relatives, it should be declared under unsecured loans or liabilities.