{"id":11753,"date":"2021-07-02T16:02:35","date_gmt":"2021-07-02T10:32:35","guid":{"rendered":"https:\/\/www.fintoo.in\/blog\/?p=11753"},"modified":"2021-07-05T11:38:45","modified_gmt":"2021-07-05T06:08:45","slug":"what-is-sft-must-watch-before-you-file-your-itr","status":"publish","type":"post","link":"https:\/\/blog.fintoo.in\/blog\/what-is-sft-must-watch-before-you-file-your-itr\/","title":{"rendered":"What is SFT? Must watch before you file your ITR"},"content":{"rendered":"\n<p>Do you know Statement Of Financial Transactions?<br>Statement Of Financial Transactions (SFT) is a report of specified financial transactions which helps Government to identify the transaction that can attract taxes.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"What is SFT? Must watch before you file your ITR - Friday First Cut Episode 29\" width=\"940\" height=\"529\" src=\"https:\/\/www.youtube.com\/embed\/eRtXFsld9Ss?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen class=\"no-lazyload\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Government introduced SFT To keep a tab on black money and high value transactions <\/p>\n\n\n\n<p>SFT = Statement of Financial Transactions <\/p>\n\n\n\n<p>High value transactions reflect in Form 26AS <\/p>\n\n\n\n<p>Banks, Corporates, Mutual fund Trustees report such high value transactions to income tax authorities <\/p>\n\n\n\n<p>If fail to do so, they are imposed with penalties. <\/p>\n\n\n\n<p>Check your Form 26AS before filing ITR <\/p>\n\n\n\n<p>Declare related income to avoid income tax notice<\/p>\n\n\n\n<p>Related Article:&nbsp;<a href=\"https:\/\/www.fintoo.in\/blog\/how-to-find-out-which-itr-form-to-fill\/\">How To Find Out Which ITR Form To Fill?<\/a><\/p>\n\n\n\n<p>Fill in the details and our Income Tax Filing experts will get in touch with you. Hassle-Free Online ITR Filing with Fintoo! <a href=\"https:\/\/bit.ly\/3gUwIS3\">Start e-Filing<\/a><\/p>\n\n\n\n<p>To get started with personalized Automated financial planning visit \u2013&nbsp;<a href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;redir_token=QUFFLUhqbUsxQmpYT3owbVcyNE5Pc0RLaWZDLWJBZ3l6QXxBQ3Jtc0ttRkNJek1TVEUtNk5IVXlraVVEZlJDdWJlaW9VbXJ1MmpIWHZhZHFmRllOaFB5c3lObExJLVpIeXdSQmZVVkFoNEoxUGsxN09UbFJRVnloT2pydVVpVzIwVC02Y2dzbjk4cGZZWjdUc2pBSXVHZFVxSQ&amp;q=http%3A%2F%2Fbit.ly%2FFinancial-Planning-Tool\" rel=\"noreferrer noopener\" target=\"_blank\">http:\/\/bit.ly\/Financial-Planning-Tool<\/a><\/p>\n\n\n\n<p><strong>Disclaimer:<\/strong>&nbsp;The views shared in blogs are based on personal opinion and does not endorse the company\u2019s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the sole decision of the investor and the company or any of its communication cannot be held responsible for it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Do you know Statement Of Financial Transactions?Statement Of Financial Transactions (SFT) is a report of specified financial transactions which helps Government to identify the transaction that can attract taxes. Government introduced SFT To keep a tab on black money and high value transactions SFT = Statement of Financial Transactions High value transactions reflect in Form [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[809],"tags":[1159,1147,1158],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is SFT? 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