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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Mutual Fund Transactions by Registrar and Share Transfer Agent - 04 of 2021 - Income Tax

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..... s given in Annexure C. The data structure and validation rules are enclosed in Annexure D and Annexure E respectively. Notification No. 3 of 2018 dated 05.04.2018 may be referred for the procedure for registration. 4. All Registrar and Share Transfer Agents are required to prepare the data file in prescribed format from their internal system. Reporting entities are required to submit the data files using SFTP Server using the login credentials (To be communicated separately). 5. A separate control statement (refer annexure C) is required to be signed, verified and furnished by the Designated Director. 6. The statement of financial transactions relating to Financial Year 2020-21 shall be furnished on or before the 31st May 2021. Thereafter, the statement of financial transactions relating to the quarter ending 30th June, 31st September, 31st December and 31st March shall be furnished on or before 25th of July, October, January and April respectively. 7. The reporting entities are also required to provide information of mutual fund transactions, reported to Income Tax Department, to the account holder which will enable taxpayers to reconcile the information displayed in the Annual In .....

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Mutual Fund Transactions by Registrar and Share Transfer Agent - 04 of 2021 - Income Tax

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..... of acquisition of any security) should be used to classify the asset as short term or long-term asset. First in First out (FIFO) method should be used for identification of corresponding purchases and computation of period of holding. Any capital asset held by the taxpayer for a period of more than minimum period of holding will be treated as long-term capital asset and remaining assets will be classified as short-term asset. The specified minimum period of holding for different asset class is as under: Security Class Code Security Class Description Minimum Period of Holding EMF Unit of Equity Oriented Mutual Fund 12 months UTI Unit of UTI 12 months OTU Other Units 36 months 8. For every debit transaction, the corresponding credit should be identified using First in First Out (FIFO) method. The estimated cost of acquisition for the credit should be determined on the best possible available price with the RTA. In case the cost of acquisition related to a credit/transfer is not available, NAV for the end of the day .....

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Mutual Fund Transactions by Registrar and Share Transfer Agent - 04 of 2021 - Income Tax

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..... Correction A.8 Statement Date A.9 Reporting Period Start Date A.10 Reporting Period End Date Number of Records B.1 Mutual Fund Batch File (MF_BATCH.TXT) B.2 Mutual Fund Account Summary (MF_ACC_SUMM.TXT) B.3 Mutual Fund Transaction Summary (MF_TRN_SUMM.TXT) B.4 Mutual Fund Off-Market Transaction (MF_OFF_TRN.TXT) Sum of Key Values in Rs. (Refer Mutual Fund Account Summary) C.1 Opening Value C.2 Purchase Value C.3 Sale Value C.4 Closing Value I, declare that to the best of my knowledge and belief, the information given in the data files is correct and complete and is in accordance with the provisions of the Income-tax Act, 1961. Name _____________ Designation ________________ .....

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Mutual Fund Transactions by Registrar and Share Transfer Agent - 04 of 2021 - Income Tax

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..... VARCHAR (150) 12. Principal Designation Officer Y VARCHAR (150) 13. Principal Officer Address Y VARCHAR (500) 14. Principal Officer Mobile Y VARCHAR (15) 15. Principal Officer Email Y VARCHAR (50) D.2. Mutual Fund Account Summary (MF_ACC_SUMM.TXT) This file contains details of a person and summary values of the financial transactions for the reporting period. # Field Mandatory Format Remarks 1. Sequence Number Y DECIMAL (18,0) Running sequence number for each line in the file. This number will be used during validation checks. 2. Financial Year Y VARCHAR (4) FY in which transaction was recorded-YYYY 3. Reporting Period Y DATE .....

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Mutual Fund Transactions by Registrar and Share Transfer Agent - 04 of 2021 - Income Tax

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..... Y VARCHAR (1) Whether joint holding exists (Y/N) 22. Second Holder PAN N VARCHAR (10) Mandatory if Joint holding exists. Mention PANNOTAVBL if no PAN is available. 23. Second Holder Name N VARCHAR (250) Mandatory if Joint holding exists 24. Second Holder DOB N DATE Second Holder s DOB/DOI in DD-MM-YYYY 25. Third Holder PAN N VARCHAR (10) Mandatory if Joint holding exists. Mention PANNOTAVBL if no PAN is available. 26. Third Holder Name N VARCHAR (250) Mandatory if Joint holding exists 27. Third Holder DOB N DATE Third Holder s DOB/DOI in DDMM-YYYY 28. Opening Value Y DECIMAL (18,2) Value of Holding as on first day of reporting period 29. Purcha .....

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Mutual Fund Transactions by Registrar and Share Transfer Agent - 04 of 2021 - Income Tax

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..... VARCHAR (250) First Holder s name 8. Security Class Code Y VARCHAR (3) See permissible values 9. Security Code Y VARCHAR (12) Unique security code (e.g. ISIN). Mention ISINNOTAVBLE if no ISIN is available. 10. Security Name Y VARCHAR (200) Name of security (scheme, plan and option) 11. Debit Date Y DATE Date of Debit in DD/MM/YYYY 12. Debit Type Y VARCHAR (1) Refer Guidelines A AMC (redemption) T Transfer 13. Credit Type Y VARCHAR (1) Refer Guidelines A AMC (purchase) T Transfer 14. Asset Type Y VARCHAR (1) Refer Guidelines S Short Term L Long Term 15. Units Y DECIMAL (18,3) Units sold or transferred. .....

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Mutual Fund Transactions by Registrar and Share Transfer Agent - 04 of 2021 - Income Tax

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..... Y VARCHAR (10) Mention PANNOTAVBL if no PAN is available. 8. Transferor Name Y VARCHAR (250) First Holder s name 9. Transferee AMC Code Y VARCHAR (5) 10. Transferee Client ID Y VARCHAR (20) 11. Transferee PAN Y VARCHAR (10) Mention PANNOTAVBL if no PAN is available. 12. Transferee Name Y VARCHAR (250) 13. Security Class Code VARCHAR (3) Refer Permissible values 14. Security Code Y VARCHAR (12) Unique Security Code (e.g. ISIN) 15. Security Name Y VARCHAR (200) Name of Security 16. Quantity transferred Y DECIMAL (18,3) No of Units transferred 17. .....

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Mutual Fund Transactions by Registrar and Share Transfer Agent - 04 of 2021 - Income Tax

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..... r 3. ZZZ Not Specified Permissible Values - State code # State/Union Territories Code 1. Andaman and Nicobar AN 2. Andhra Pradesh AP 3. Arunachal Pradesh AR 4. Assam AS 5. Bihar BR 6. Chandigarh CH 7. Dadra and Nagar Haveli DN 8. Daman and Diu DD 9. Delhi DL 10. Goa GA 11. Gujarat GJ 12. Haryana HR 13. Himachal Pradesh HP 14. Jammu and Kashmir JK 15. Karnataka KA 16. Kerala KL 17. Lakshadweep LD .....

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Mutual Fund Transactions by Registrar and Share Transfer Agent - 04 of 2021 - Income Tax

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..... The reporting entity needs to correct and submit the reports again in the corrected statement. Exceptions The exceptions should be reviewed by the reporting person/entities and if any information is available, the reporting entity may provide the information. If any defect is noticed, the reporting entity needs to rectify the defect by submitting a correction statement. The validation rules are as under: # Error Message Error Type File Rejection 1. Control Statement Values Mismatch Error Y 2. Sequence Number in Submitted file is not running sequence number Error Y 3. Client Data not provided for reported transaction Defect N 4. Mandatory Field is blank Defect N 5. Invalid PAN reported Exception N 6. Excessive Value Reported Exception N 7. M .....

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Mutual Fund Transactions by Registrar and Share Transfer Agent - 04 of 2021 - Income Tax

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  1. 16/2021 - Dated: 12-3-2021 - Income-tax (4th Amendment) Rules, 2021 - Amends Rule 114E. - Furnishing of statement of financial transaction
  2. 03/2018 - Dated: 5-4-2018 - 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