We would like to draw your attention to section 285BA which mandates filing of Statement of Financial Transaction (SFT) in Form No 61A by specified person as listed out in the Rule 114E for the specified transactions entered by the assessee on or after 1.4.2016. And the due date for filing form 61A is on or before 31st May of the subsequent year during which the transaction has been entered. Thus, for specified transactions entered during the Financial year 2016-17, Form 61A has to be filed by all the assesses mentioned in the following table with respect to the transactions mentioned below on or before 31st of May 2017.
| S.No | Specified persons | Specified persons |
| 1 | Banks | Cash payment for purchase of DDs/POs of amount aggregating Rs 10 lakh or more in a year ET |
| 2 | Banks | Cash payment of Rs 10 lakh or more for purchase of pre- paid RBI instruments (RBI bonds, etc.) |
| 3 | Banks | Cash deposit/withdrawal aggregating Rs 50 lakh or more from current a/c of a person |
| 4 | Banks/Post Master General | Cash deposit aggregating Rs 10 lakh or more in any one or more accounts of a person (other than current account and time deposit) |
| 5 | Banks /Post Master General/Nidhi/NBFC | One or more time deposits (other than those through renewal of another time deposit) of a person aggregating Rs 10 lakh or more |
| 6 | Banks | Payment in cash aggregating in a year Rs 1 lakh or more (in cash) or Rs 10 lakh or more (by any other mode) against credit card bill issued to a person during the year |
| 7 | Company/Institution issuing bonds/debentures | Receipt aggregating Rs 10 lakh or more in a year from a person for acquiring bonds/debentures |
| 8 | Company issuing shares | Receipt from a person aggregating Rs 10 lakh or more for acquiring shares (including share application money) |
| 9 | Company listed in recognized exchange stock | Buy back of shares from any person (other than bought from open market) for an amount aggregating Rs 10 lakh or more |
| 10 | Mutual Fund Trustee/Manager | Receipt from a person aggregating Rs 10 lakh or more for acquiring units of Mutual Fund |
| 11 | Foreign Exchange Dealer | Receipt from a person for sale of foreign currency, including against foreign exchange card or expenditure in such currency against debit/credit card or issue of travellers cheque or draft aggregating Rs 10 lakh or more |
| 12 | IG Registrartion or Registrar/Sub- Registrar of Property | Purchase/Sale by any person of immovable property for Rs 30 lakh or more or valued by the stamp valuation authority at Rs 30 lakh or more |
| 13 | Any person liable for audit u/s 44AB of the Act (Any person earning income from business and having turnover of more than 1 crore in the PY is liable for audit u/s 44AB) | Receipt of cash payment exceeding Rs 2 lakh by any person for sale of goods/services (other than those specified above) |