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TMI BlogFurnishing of statement of financial transaction.X X X X Extracts X X X X X X X X Extracts X X X X ..... ten lakh rupees or more in a financial year. (b) Payments made in cash aggregating to ten lakh rupees or more during the financial year for purchase of pre-paid instruments issued by Reserve Bank of India under section 18 of the Payment and Settlement Systems Act, 2007 (51 of 2007). (c) Cash deposits or cash withdrawals (including through bearer s cheque) aggregating to fifty lakh rupees or more in a financial year, in or from one or more current account of a person. A banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act). 2. Cash deposits aggregating to ten lakh rupees or more in a financial year, in one or more accounts (other than a current account and time deposit) of a person. (i) A banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act); (ii) Post Master General as referred to in clause (j) of section 2 of the Indian Post Office Act, 1898 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 2013 (18 of 2013) . 8. Receipt from any person of an amount aggregating to ten lakh rupees or more in a financial year for acquiring units of one or more schemes of a Mutual Fund (other than the amount received on account of transfer from one scheme to another scheme of that Mutual Fund). A trustee of a Mutual Fund or such other person managing the affairs of the Mutual Fund as may be duly authorised by the trustee in this behalf. 9. Receipt from any person for sale of foreign currency including any credit of such currency to foreign exchange card or expense in such currency through a debit or credit card or through issue of travellers cheque or draft or any other instrument of an amount aggregating to ten lakh rupees or more during a financial year. Authorised person as referred to in clause (c) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999). 10. Purchase or sale by any person of immovable property for an amount of thirty lakh rupees or more or valued by the stamp valuation authority referred to in section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... value of all the transactions to all the persons, in a case where the account is maintained or transaction is recorded in the name of more than one person; (d) apply the threshold limit separately to deposits and withdrawals in respect of transaction specified in item (c) under column (2), against Sl. No. 1 of the said Table. (4)(a) The return in Form No. 61A referred to in sub-rule (1) shall be furnished to the Director of Income-tax (Intelligence and Criminal Investigation) or the Joint Director of Income-tax (Intelligence and Criminal Investigation) through online transmission of electronic data to a server designated for this purpose under the digital signature of the person specified in sub-rule (7) and in accordance with the data structure specified in this regard by the Principal Director General of Income-tax (Systems): Provided that in case of a reporting person, being a Post Master General or a Registrar or an Inspector General referred to in sub-rule (2), the said return in Form 61A may be furnished in a computer readable media, being a Compact Disc or Digital Video Disc (DVD), alongwith the verification in Form-V on paper. Explanation.-For the purposes of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e and share transfer agent registered under sub-section (1) section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) . 2. Dividend income A company 3. Interest income (i) A banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act); (ii) Post Master General as referred to in clause (j) of section 2 of the Indian Post Office Act, 1898 (6 of 1898). (iii) Non-banking financial company which holds a certificate of registration under section 45-IA of the Reserve Bank of India Act, 1934 (2 of 1934), to hold or accept deposit from public. Explanation . - For the purposes of this rule,- (a) listed securities means the securities which are listed on any recognised stock exchange in India; (b) Mutual Fund means a Mutual Fund as referred to in clause (23D) of section 10 of the Act; (c) recognised clearing corporation shall have the same meaning as assigned to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g person referred to in the Table in sub-rule (2) 13 [ and in sub-rule (5A) ] . Explanation 3.- Regulator means a person or an authority or a Government which is vested with the power to license, authorise, register, regulate or supervise the activity of the reporting person referred to in the Table in sub-rule (2) 14 [ and in sub-rule (5A) ] . (7) The statement of financial transaction referred to in sub-rule (1) 15 [ and sub-rule (5A) ] shall be signed, verified and furnished by the Designated Director specified in sub-rule (6): Provided that where the reporting person is a non-resident, the statement may be signed, verified and furnished by a person who holds a valid power of attorney from such Designated Director] ******************* Notes: 1. Substituted vide notification no. 111/2008 dated 23-12-2008 (Income-tax (Eleventh Amendment) Rules, 2008), before it was read as, Commissioner of Income-tax (Central Information Branch) 2. Substituted vide Not. 95/2015 - Dated 30-12-2015, w.e.f. 1st day of April, 2016, before it was read as, 114E. Furnishing of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the company or institution. 5. A company issuing shares through a public or rights issue. Receipt from any person of an amount of one lakh rupees or more for acquiring shares issued by the company. 6. Registrar or Sub-Registrar appointed under section 6 of the Registration Act, 1908. Purchase or sale by any person of immovable property valued at thirty lakh rupees or more. 7. A person being an officer of the Reserve Bank of India, constituted under section 3 of the Reserve Bank of India Act, 1934, who is duly authorized by the Reserve Bank of India in this behalf. Receipt from any person of an amount or amounts aggregating to five lakh rupees or more in a year for bonds issued by the Reserve Bank of India. (3) The 7 [return or statement ] referred to in sub-rule (1) shall be furnished to the 1 [Director of Income-tax (Central Information Branch)]: Provided that where the Board has au ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act; (b) in any other case, by the person referred to in column (2) of the Table below sub-rule (2). (7) The Board may appoint an officer designated as 6 [ Annual Information Return or Statement of Financial Transaction ]-Administrator, not below the rank of the Commissioner of Income-tax for the purposes of day to day administration of furnishing of the 7 [ Annual Information Return or Statement] including specification of the procedures, data structure, formats and standards for ensuring secure capture and transmission of data, evolving and implementing appropriate security, archival and retrieval policies. Sub-Notes:- 1. Inserted vide Not.19/2016 - Dated 18-3-2016 w.e.f. 1st day of April, 2015 2. Substituted vide Not.19/2016 - Dated 18-3-2016 w.e.f. 1st day of April, 2015 , before it was read as, annual information return 3, Substituted vide Not.19/2016 - Dated 18-3-2016 w.e.f. 1st day of April, 2015 , before it was read as, return 4. Substituted vide Not.19/2016 - Dated 18-3-2016 w.e.f. 1st day of April, 2015 , before it was read as, Annual Information Return-Administrator 5, Substituted vide ..... X X X X Extracts X X X X X X X X Extracts X X X X
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