Procedure for registration for statement of financial transactions (SFT) as per section 285BA of Income-tax Act 1961 read with Rule 114E of Income-tax Rules, 1962

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..... ance Central Board of Direct Taxes Directorate of Income Tax (System) Notification No. 13 of 2016 New Delhi, 30 th December, 2016 Procedure for registration for statement of financial transactions (SFT) as per section 285BA of Income-tax Act 1961 read with Rule 114E of Income-tax Rules, 1962 Section 285BA of the Income Tax requires specified reporting persons to fur .....

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..... ting appropriate security, archival and retrieval policies. 4. In exercise of the powers delegated by Central Board of Direct Taxes ('Board') under Sub rule (4)(a) and (4)(b) of Rule 114E of the Income tax Rules 1962 , the Principal Director General of Income-tax (Systems) hereby lays down the following procedures: (a) Registration and Generation of Income Tax Department Registe .....

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..... etails of the reporting entity on the screen. Once registered, the reporting entity will have an option to edit the details. (c) Registration of designated director and principal officer: After submission of reporting entity details, the reporting financial institution will be required to submit the details of designated director and principal officer. The designated director and principal of .....

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