As the last date of filing the ‘Statement of Financial Transactions (SFT)’ in Form No. 61A as prescribed under Rule 114E of the Income-tax Rules 1962 is fast approaching, the Direct Taxes Committee of ICAI is receiving a number of queries seeking clarification regarding submission of SFT in form no. 61A in case of no reportable transaction and submission of the "SFT Preliminary Response" under compliance section post login to e-Filing portal.

Members may note that the Income tax Department has issued a clarification on the same vide a Press Release dated 26.05.2017 which is hosted at

http://www.incometaxindia.gov.in/Lists/Press%20Releases/Attachments/627/CBDT-Clarification-furnishing-SFT-Preliminary-Response-26-5-2017.pdf

With Regards

Chairman, Direct Taxes Committee
The Institute of Chartered Accountants of India