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 compiled", the finance ministry said in a statement.
"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," the statement said.
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Banking companies, cooperative banks, trustees of a mutual funds and post offices need to file SFT for payments and receipts beyond a certain threshold.