Government Flags Key Errors in SFT Filing Ahead of May 31 Deadline
मुख्य बातें
- •Government officials have flagged key errors in SFT filing, including incorrect PAN details and mismatched account numbers.
- •Accurate SFT reporting is critical for maintaining a transparent and taxpayer-friendly compliance ecosystem.
- •The government has set up a dedicated helpline and online portal for taxpayers to report errors and seek assistance.
- •Failure to comply with SFT filing regulations may result in penalties and fines.
- •The May 31 deadline for SFT filing is approaching, and taxpayers and financial institutions must ensure accurate and complete reporting.
As the May 31 deadline for filing Statement of Financial Transaction (SFT) approaches, government officials have flagged key errors that taxpayers and financial institutions must address to ensure seamless compliance. The officials have reiterated that accurate SFT reporting is critical for maintaining a transparent and taxpayer-friendly compliance ecosystem.
The Ministry of Finance has been actively monitoring the SFT filing process, which involves reporting transactions above a specified threshold. This includes cash transactions, digital payments, and other financial dealings. The government has been working towards reducing errors and ensuring that the compliance process is efficient and hassle-free.
