Rule 5 - Furnishing of statement by a scheduled bank of number of taxable banking transactions entered into and banking cash transaction tax collected during a month - Banking Cash Transaction Tax Rules, 2005

Furnishing of statement by a scheduled bank of number of taxable banking transactions entered into and banking cash transaction tax collected during a month 5. Every scheduled bank shall furnish a statement of taxable banking transactions in respect of which it is required to collect tax during a month, in Form No. 2 to the income-tax authority specified in this behalf by the Board on or before the expiry of the month immediately following the said month on a computer media, in accordance with the following,— (a) the computer media confirms to the following specifications :— (i) CD ROM of 650 MB capacity or higher capacity; or (ii) 4mm 2GB/4GB (90M/120M) DAT Cartridge; or (iii) Digital Video Disc; (b) if the data relating to the schedules is copied using data compression or backup software utility, the corresponding software utility or procedure for its decompression or restoration shall also be furnished; (c) the statement shall be accompanied by a certificate regarding clean and virus free data.