Notification No. 1/2017

Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962

What this is

Notification No. 1/2017 was published on 17 January 2017. Its subject is Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962.

The instrument itself

The department publishes this one as a scanned document rather than as text, so there is nothing here for us to reproduce. The signed document is on the department’s own site — this file.

← Notification No. 1/2017 [F. No. V.-27015/6/2016-SO (NAT.COM)] / SO 160(E) · Notification No. Notification No. 3/2017 [F. No. 504/05/2003-FTD-I] / SO 64(E) →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.