Last reviewed: 8 July 2026. Form 61A - the Statement of Financial Transactions - is how banks, companies and other reporting entities tell the tax department about high-value transactions, and it is the source of much of what appears in your AIS. This guide explains who must file, what is reported, the ITDREIN registration, the 31 May due date, and the penalties for getting it wrong.
At a glance
Who must file and what is reported
Specified reporting persons - banks and NBFCs, companies issuing or buying back shares, property registrars, mutual funds and credit-card issuers - report high-value transactions in Form 61A. Typical reportable items include large cash deposits, property transactions above a threshold, significant investments in shares, mutual funds or bonds, and large credit-card payments, each governed by its own prescribed limit.
ITDREIN, due date and penalty
A reporting entity first obtains an ITDREIN registration, then files Form 61A by 31 May following the financial year. Non-filing attracts a penalty under Section 271FA - broadly Rs 500 per day, rising to Rs 1,000 per day if the default continues after notice - along with penalties for inaccurate reporting.
Why it matters for every taxpayer
Even if you never file a 61A, its output lands in your AIS. That is why reconciling your income tax return with the AIS is so important - the department already has these high-value transactions on record, and mismatches invite questions.
Frequently asked questions
What is Form 61A / the SFT?
Form 61A is the Statement of Financial Transactions, through which specified reporting entities - banks, companies, registrars, mutual funds and others - report high-value transactions to the income tax department. It feeds the data you see in your AIS.
Who has to file Form 61A?
Specified reporting persons such as banks, NBFCs, companies issuing shares or buying back shares, registrars of property, mutual funds and credit-card issuers - not ordinary individual taxpayers.
What is the due date?
Form 61A is due by 31 May following the financial year in which the reportable transactions took place.
What kinds of transactions are reported?
High-value transactions such as large cash deposits, purchase or sale of immovable property above a threshold, large investments in shares, mutual funds or bonds, and significant credit-card payments - each with its own prescribed limit.
What is ITDREIN?
ITDREIN (Income Tax Department Reporting Entity Identification Number) is the registration a reporting entity obtains to file the SFT. You register once and use it for subsequent filings.
What is the penalty for not filing?
Non-filing attracts a penalty under Section 271FA - broadly Rs 500 per day, increasing to Rs 1,000 per day if the default continues after a notice - plus penalties for inaccurate reporting.
How does the SFT connect to my AIS?
The transactions reported in various Form 61A filings are consolidated into your Annual Information Statement, which is why reconciling your return with the AIS matters so much.
What if a reporting entity has no reportable transactions?
Where required, a nil or preliminary response may still need to be submitted; reporting entities should confirm their obligation rather than assume they are exempt.
We handle ITDREIN registration and accurate, on-time Form 61A filing, and help you reconcile AIS data.
Income Tax FilingBookkeepingTalk to CA Somesh Chandak & Associates - we manage SFT / Form 61A compliance.
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