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TMI BlogFormat, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Interest incomeX X X X Extracts X X X X X X X X Extracts X X X X ..... f Financial Transactions (SFT) information are enclosed in Annexure A and Annexure B respectively. The data structure and validation rules are enclosed in Annexure C and Annexure D respectively. Notification No. 3 of 2018 Dated 5.04.2018 may be referred for the procedure for registration. 4. Reporting entities are required to prepare the data file in prescribed format from their internal system. An excel based report preparation utility has also been provided to assist small reporting entities in preparing data file. The data files prepared by internal system/report preparation utility should be validated using Text File Validator/Submission Utility. After validation, the text file is required to be compressed, encrypted and signed using the Text File Submission Utility before uploading on the reporting portal (https://report.insight.gov.in/). Reporting entities, having large number of data files, can also submit the data files using SFTP Server (specific request may be made for SFTP upload). 5. 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 reco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l as referred to in clause (j) of section 2 of the Indian Post Office Act, 1898 (6 of 1898). (iii) Nonbanking financial company which holds a certificate of registration under section 45IA of the Reserve Bank of India Act, 1934 (2 of 1934), to hold or accept deposit from public. Remarks 1 [ 1. The information is to be reported for all account/deposit holders where any interest exceeds zero per account in the financial year excluding Jan Dhan Accounts ] 2. Interest which is exempt from tax under the Income-tax Act, 1961 such as interest on Public Provident Fund (PPF) Account, Foreign Currency Nonresident (FCNR) Account, Sukanya Samriddhi Account, Resident Foreign Currency Account etc. need not be reported. 3. While reporting the interest amount, deduction of ₹ 10,000/available under section 80TTA should not be reduced from interest amount paid/credited. 4. In case of joint account, the interest paid/credited should be assigned to the first/primary account holder or specified assigned person as per Form 37BA. 5. In case of minor being the account holder, the information to be reported in the name of Legal Gu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : # Field Format Mandatory Remarks 1. RSN Num (10) Y Report Serial Number is the unique number to identify each report in the file. 2. FY Num (4) Y Financial Year (2020 for FY 2020 21) 3. Name Char (150) Y Name of the person/ Entity 4. PAN Char (10) Y PAN of the person. Mention PANNOTAVBL if PAN is not available. 5. Aadhaar Char (15) Aadhaar of the person. 6. Mobile Char (20) Mobile Number of the person 7. Email Cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... File should be generated using Submission Utility File should be generated using Submission Utility. 2. The header in file should be as per specified format The header in file should be as per specified format. 3. Failed Decryption Failed Decryption. Please encrypt the file with a valid key using Validation and Encryption Utility and resubmit. 4. Failed Decompression Failed Decompression. Please compress the file using Validation and Encryption Utility and resubmit. 5. Failed Signature Check Failed Signature Check. Please sign the file with the Digital Signature using Validation and Encryption Utility and resubmit. 6. Signature Mismatch Digital Signature used in file for signing does not match with Digital Signature registered on Reporting Portal. Please resign the file with the Digital Signature of the Designated Director. 7. Signature not Uploaded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ber field should not be blank (mandatory field) Account Number is blank in XX reports 23. Account Number length should not exceed 20 Account Number length exceeds 20 in XX reports 24. Account Number should not be in exponential (scientific) format. Account Number is in exponential (scientific) format in XX records. 25. Type of account field should not be blank (mandatory field) Type of account is blank in XX reports 26. Type of account length should not exceed 1 character Type of account length exceeds 1 character in XX records 27. Type of account should not be other than (S, T, R, O) Type of account is other than (S, T, R, O) in XX records. 28. Aadhaar length should not exceed 15 character Aadhaar length exceeds 15 character in XX reports 29. Aadhaar should not be in exponential (scientific) format. Aa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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