Submission of Statement of Financial Transactions (SFT) for dividend
Section 285BA of the Income Tax Act, 1961 and Rule 114E requires specified reporting persons to furnish statement of financial transaction. CBDT has issued a Notification (Notification no. 16/2021, dated 12th March 2021) to include reporting of information relating to dividend income. The dividend information is to be reported by a Company who has distributed dividend during the FY 2020-2021.
The statement of financial transactions shall be furnished on or before the 31st May 2021.
CBDT has issued a Notification (Notification no. 1 of 2021, dated April 20, 2021) providing the guidelines for preparation, submission and validation of the SFT.
Please take note of the above compliance requirement and conform with it. Kindly let us know, if you require our assistance in this regard.