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SFT 004 in 26AS

kumar (student) (245 Points)

30 January 2021

hi,
what does it mean SFT004 in 26AS amounted to Rs.80,000
pls explain

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5 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 30 January 2021

SFT 004 means any cash deposited into account

kumar (student) (245 Points)
Replied 30 January 2021

What to do now for the 80k

rama krishnan (12234 Points)
Replied 31 January 2021

SFT 004 code implies cash deposits made in accounts other than current accounts. but generally it'll be reported and have impact only if the aggregate cash deposits exceeds 10 lakhs

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 31 January 2021

It's not a big problem SFT 004 doesn't create any problems as it is reported by the financial institutions

Kapadia Pravin (17249 Points)
Replied 31 January 2021

SFT- 004: Cash deposit in account other than current account (if more than Rs 10 lakh in a year). This includes deposits through bearer cheques.

May be an error by reporting entity as you have 80K only. Please re-check