Kolkata, Sept. 17 -- The Directorate of Income Tax, Intelligence & Criminal Investigation, Kolkata, organised an awareness programme on September 17 at Bandhan Bank headquarters in Kolkata on Statement of Financial Transactions (SFT) reporting under the Income-tax Act, 2025.
Conducted by the Assistant Director of Income Tax, Intelligence & Criminal Investigation, Unit-1(2), Kolkata, the programme was attended by around 50 officers and officials of Bandhan Bank. It aimed to enhance awareness among bank officials about their responsibilities as reporting entities and promote accurate, complete and timely compliance with SFT requirements under the new income-tax regime.
Officials explained key changes under the Income-tax Act, 2025, focusing on specified financial transactions and reporting responsibilities. The session also highlighted the importance of maintaining reliable and consistent customer and transaction data.
The programme covered the Statement of Reportable Accounts under FATCA and CRS, followed by an interactive discussion on practical and technical aspects of SFT and FATCA/CRS reporting.
Published by HT Digital Content Services with permission from Millennium Post.