SFT05 Time deposit shown for renewed deposits

Dear Sir ,

While filing my ITR for FY 19-20, I saw that HDFC bank has reported SFT 05 time deposit. I read about SFT on google and blogs, and understood to some extent but not sure if I understand it well enough.  I do have FDs in HDFC bank of more than 15 lakhs from 2016, But  new FDs of that were not opened in during FY 19-20.It was opened in 2016 and kept for auto renewal, Also the entry from the bank under 26as says amount 16laks under two rows with SFT05 time deposit , and -16 lakhs with SFT 05 time deposit in one row , remarks says O,R and C for these rows each, I am paying all TDS + additional tax on the FD interest income properly since starting of FD , 

I have closed auto renewal of two FDs (9 lacs and 7 lacs ) and deposited as a single FD for 16 lacs after these FDs maturities during this financial year.i think it caused the entry at 26AS.

I need youradvise , how to deal this in filing , Do I need to submit any kind of form other than itr filing ? 
or I can just leave it as these are FD rewals and not A new income for FY 19-20 ?

 

pls advise
 

Replies (3)
Quick Summary
This discussion addresses confusion regarding SFT-05 time deposit entries appearing on an ITR for renewed fixed deposits. The user noticed a report from HDFC Bank for a time deposit exceeding 15 lakhs, even though no new FDs were opened during the financial year. The query seeks clarification on whether these entries, which seem to relate to auto-renewed FDs, need specific action during ITR filing or can be disregarded as bank reporting. The discussion also touches upon the meaning of remarks like 'O', 'R', and 'C' associated with these entries.

SFT is to be filed by a bank you can ignore it.

Thanks Heet shah your reply

I just closed auto renewed FD of two worth of  9 and 7 lakhs and created a single FD 16 lakhs with different tenors, so i had no clue how to handle this and asked here.

Seeing the below 3 rows with different remarks 'O' , 'R'   and 'C'  under section 'E' of 26AS. Any idea about remarks that you know ,just interest to understand the terms?

SFT-005 Time deposit HDFC BANK LTD , HDFC BANK HOUSE 1 SENAPATI BAPAT MARG LOWER PAREL, MUMBAI, MAHARASHTRA, INDIA, 400013 - 1600000.00 O

SFT-005 Time deposit HDFC BANK LTD , HDFC BANK HOUSE 1 SENAPATI BAPAT MARG LOWER PAREL, MUMBAI, MAHARASHTRA, INDIA, 400013 - -1600000.00 R 

SFT-005 Time deposit HDFC BANK LTD , HDFC BANK HOUSE 1 SENAPATI BAPAT MARG LOWER PAREL, MUMBAI, MAHARASHTRA, INDIA, 400013 - 1600000.00 C

 

It would be for ITO reference. O would be Online Receipt., R may be redemption or reversal and C would be cash withdrawn.

It would be for the convenience of the ITO.

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