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Sft-08 61A
When will the details of 61A appear in the 26 AS of the concerned persons?
Replies (1)
| SFT (Statement of Financial Transactions) reported u/s 285BA of the IT Act by reporting entities (banks, mutual funds, registrars, etc.) typically appears in Form 26AS under Part E (Information relating to specified financial transactions) after the following timeline: 1. Filing Deadline: Reporting entities must file SFT by 31st May each year for transactions in the preceding financial year (e.g., FY 2020-21 data filed by 31st May 2021). 2. Reflection in 26AS: Once CBDT processes the SFT data, it typically reflects in the taxpayer's Form 26AS/AIS (Annual Information Statement) within 30–60 days of the SFT filing date, so broadly by July/August of each year for the previous FY. 3. SFT-08 Specifically: SFT-08 covers cash deposits of Rs. 10 lakh or more in a savings account, or Rs. 50 lakh or more in a current/FD account. Once the bank files this, it should appear in your AIS under 'Savings Account' or 'Time Deposit' category. 4. Check AIS, Not Just 26AS: With the new AIS introduced from 2021, SFT transactions are now more prominently reflected there. Go to incometax.gov.in → e-File → Income Tax Returns → View AIS. 5. If not yet reflecting: The bank/reporting entity may not have filed the SFT yet, or there could be a mismatch in PAN — raise a grievance with CBDT/respective bank if it's overdue. |
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