Banking companies, co-operative banks, trustees of mutual funds (MFs), post offices, registrars, and others who are mandated to file the statement of financial transaction (SFT) report on high-value transactions have come under the income-tax department’s (I-T) scanner. The Central Board of Direct Taxes (CBDT) has directed tax sleuths to conduct quarterly ‘survey and inspection’ of these entities to determine the correctness of the statement filed by them. To track high-value cash transactions, the centre had in January 2017 put out a new rule wherein it had mandated all goods and services providers to report to the I-T department high-value cash transactions and cash receipts.