The Income Tax department has extended the date for filing the Statement of Financial Transaction (SFT) report by banks, mutual funds and financial institutions by June 30.

The Finance Ministry has said in a statement that the Central Board of Direct Taxes (CBDT) received representations for extension of the date on account of the “teething problems and the volume of data to be complied.”

It further said that “In view of these representations and in order to remove inconvenience and to facilitate ease of compliance, the CBDT, have extended the due date of furnishing of the SFT in respect of specified financial transactions registered during Financial Year 2016-17, from May 31, 2017 to June 30, 2017.”

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