I-T department holds outreach programme on SFT filing
The Income Tax Department held an outreach programme in Visakhapatnam to discuss the filing of Statement of Financial Transactions (SFT). Attendees included branch managers from various District Cooperative Central Banks, who were informed about the importance of accurate SFT filing for tax administration. The session also covered common errors in filing and emphasized the need for compliance to avoid penalties.
- ▪The outreach programme focused on the provisions and procedures for filing SFT.
- ▪Participants included branch managers from District Cooperative Central Banks in multiple districts.
- ▪Officials highlighted the importance of accurate SFT filing to identify high-risk cash transactions.
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The Office of the Income Tax Officer conducted an outreach programme on the provisions and procedural aspects of filing of Statement of Financial Transactions (SFT), in Visakhapatnam on Friday.The programme was attended by branch managers of District Cooperative Central Banks (DCCBs) from Visakhapatnam, Vizianagaram, Srikakulam and Anakapalli districts, key stakeholders in the compliance and dissemination framework under the Act.During the session, the vital role of DCCBs in rural credit delivery and financial inclusion of small traders and rural entrepreneurs was highlighted.
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