CBDT Enhances Scope Of SFT
While presenting the Union Budget 2021, the Finance Minister had said that in order to ease the filing of Income Tax Returns (ITR), details of Capital Gains from listed securities, dividend income & interest from banks, post office etc. earned by the taxpayer will be pre-filled in his ITR.
CBDT enhances scope of SFT
Accordingly, in line with this announcement, the CBDT has included new sub-rule 5A in Rule 114E to provide that for the purpose of pre-filling return of income, an SFT (Statement of Financial Transaction) shall be furnished by the specified persons containing information relating to :
- Capital Gains on transfer of listed securities or units of Mutual Funds;
- Dividend Income; and
- Interest Income