High-Value Transaction Reporting (SFT)

Tax Glossary Definition

High-Value Transaction Reporting (SFT)

High-Value Transaction Reporting (SFT) – A system under which specified financial institutions like banks, mutual funds, and registrars report high-value transactions to the Income Tax Department, helping track unaccounted money and ensure tax compliance.

Example: A bank must report cash deposits exceeding ₹10 lakh in a savings account in a financial year under SFT

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