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Negative SFT Entry in Form26AS

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Ram K

216 Points Posted on 28 July 2021

hi,

in my form26as there's a negative sft entry sft005 (time deposit) say -550000 status as O Original filed by my bank. The formula says aggregate gross amount received from the person - aggregate gross amount paid to the person. I don't know how to apply this formula and I notice that -550000 is way too much. If I gave bank 10 laks in fy and I got interest + capital back as 12 laks then difference should have been -200000. is this the way to calculate this value?

Should I be concerned. I contacted bank but there's no one knowledgeable enough therein who can answer my query with clarity!

Any help from you experts is much appreciated.

Replies (2)

Quick Summary

A user is seeking clarification on a negative SFT entry (SFT005) appearing in their Form 26AS, specifically a -£550,000 entry related to time deposits. They are unsure how the formula for aggregate amounts received versus paid applies and if the figure is correct, as it seems disproportionately high. While the bank's explanation was unclear, advice suggests that genuine taxpayers often have nothing to worry about regarding such complex entries, which can arise from reinvestments.

CA Raj Doshi

Practising CA

8954 Points Posted on 28 July 2021

Sometimes, even in case of a reinvestment of fixed deposit, the bank would consider amount paid and amount reinvested separately. You should ignore because there is lot of complexity and if you are genuine taxpayer then nothing to be worried of.