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FILING OF SFT RETURNS
In the age of "Big Data" tax administration, the Income Tax Department knows about your high-value transactions before you even file your return. SFT Returns (Form 61A) are the mandatory reporting mechanism for specific financial activities. At Diwakar and Associates, we ensure that your reporting is accurate, timely, and reconciled, preventing the "Data Mismatch" notices that trigger high-intensity scrutiny.
What We Do
Identifying reportable transactions, data cleaning, generating the Open XML files required by the ITD, and successfully uploading them to the Reporting Portal.
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The Goal
We monitor your ledger for these specific triggers using the SFT Transaction Codes defined by the Directorate of Systems.
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Applicability
Mandatory for Banks, NBFCs, Nidhi Companies, and all Companies/Firms involved in high-value property deals, share buybacks, or cash receipts exceeding statutory limits.
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The D&A Advantage
By 2026, the AI-driven Insight Portal automatically cross-verifies SFT data with GST and AIS (Annual Information Statement). We perform a Pre-Filing Reconciliation to ensure what you report matches what the government already sees.