Form 60 and SFT filing related provisions- updates from Income Tax

1. Procedure for submission of Form No. 60 by any person who does not have a Permanent Account Number and who enters into any transaction specified in Rule 114B of the Income-tax Rules, 1962. ( Notification No. 1 of 2018 l is attached here with.)
Procedure for registration and submission of Form No. 61 as per Rule 114D of Income-tax Rules, 1962. (Notification No. 2 of 2018 is attached here with.)

Due dates for filing :

As per sub-rule (1)(i) and sub-rule (4) of Rule 114D, the statement in Form No. 61 shall be furnished through online transmission of electronic data to a server designated for this purpose and in accordance with the data structure specified in this regard by the Principal Director General of Income-tax (Systems). The statement shall be furnished:
(i) Where the declarations are received till 30th September, by the 31st October of that year; and
(ii) Where the declarations are received till 31st March, by the 30th April of the financial year immediately following the financial year in which the form is received



2. Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962. (Notification No. 3 of 2018 is attached here with.)

Due dates for filing :


As per sub rule (4)(a) of Rule 114E, the statement of financial transactions shall be furnished through online transmission of electronic data to a server designated for this purpose under the digital signature of the person specified in sub-rule (7) and in accordance with the data structure specified in this regard by the Principal Director General of Income- tax (Systems). The Post Master General or a Registrar or Sub-registrar or an Inspector General have the option to furnish the statement in a computer readable media, being a Compact Disc or Digital Video Disc (DVD), alongwith verification in Form-V on paper. The statement of financial transactions shall be furnished on or before the 31st May, immediately following the financial year in which the transaction is registered or recorded.

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