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TMI BlogStatement of Financial Transactions (SFT) for Depository Transactions - Method for computation of "The Estimated Sale Consideration for the debit transaction" and Frequency for submitting the statement of financial transactions data and Minimum Period of Holding of assets, modified.X X X X Extracts X X X X X X X X Extracts X X X X ..... mat, procedure, and guidelines for submission of information relating to capital gains on transfer of listed securities or units of mutual funds by Depository Institutions was notified vide notification no. 3 of 2021 dated 30th April 2021 as per the mandate of Section 285BA of the Income Tax Act, 1961 and Rule 114E sub-rule 5A. The notification lists various files, file formats, data types for different data fields that need to be reported, and various DQ rules that should be validated by Depository Institutions before submission of the data. 2. Subsequently, discussions were held with representatives of Depository Institutions. Accordingly, following changes are made to the said notification. 3. The S.No. 6 of the existing notification m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eration before filing the return." 5. In annexure A (Guidelines for Preparation of Statement of Financial Transactions (SET)) of the existing notification, S.No.5 mentions the following: Security Class Code Security Class Description Minimum Period of Holding LES Listed Equity Share 12 months LPS Listed Preference Share 12 months LDB Listed Debenture 12 months ZCB Zero Coupon Bond 12 months CIB Listed Capital Indexed Bond 12 months EMF Unit of Equity Oriented Mutual Fund 12 months UTI Unit of UTI 12 months UBT Unit of Business Trust 36 months OTU Other Units 36 months OTH Other Listed Securities (Other than a unit) 12 months This should be read as following: Security Class Code Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ril 2023) OTH Other Listed Securities (Other than a unit) 12 months - MLD Market Linked Debenture -- Short-Term Capital Assets (w.e.f. 1st April 2024) 6. In annexure A (Guidelines for Preparation of Statement of Financial Transactions (SET)) of the existing notification, S.No.6 mentions the following: "For every debit transaction, the corresponding credit transaction 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 depository. The cost of acquisition can be estimated as per the closing rate on the date (T-2) of transaction for market purchase. The estimated cost of acquisition is to be taken as NIL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A Y DECIMAL (18,2) Estimated Cost of acquisition without indexation. Refer Guidelines These should be read as following: # Field Mandatory Format Remarks 16. Unit price Y DECIMAL (18,2) Weighted Average sale price per unit (taking into account the actual value of the transactions) 17. Sale Consideration Y Decimal(18,2) Estimated Sale Consideration at Weighted Average price (taking into account the actual value of the transactions) 18. COA Y Decimal (18,2) Estimated Cost of acquisition without indexation Refer Guidelines. 8. In annexure D (D .3- Depository Transaction Summary (DEP_TRN_Summ.TXT)) of the existing notification, a new data field 24 is added for flag indication if the purchase of the s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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