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TMI BlogIncome–tax (22nd Amendment) Rules, 2015X X X X Extracts X X X X X X X X Extracts X X X X ..... section (5) of section 139A .- Every person shall quote his permanent account number in all documents pertaining to the transactions specified in the Table below, namely:- TABLE Sl.No. Nature of transaction Value of transaction (1) (2) (3) 1. Sale or purchase of a motor vehicle or vehicle, as defined in clause (28) of section 2 of the Motor Vehicles Act, 1988 (59 of 1988) which requires registration by a registering authority under Chapter IV of that Act, other than two wheeled vehicles. All such transactions. 2 Opening an account [other than a time-deposit referred to at Sl. No.12 and a Basic Savings Bank Deposit Account] with a banking company or a cooperative 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). All such transactions. 3. Making an application to any banking company or a co-operative bank to which the Ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act); (ii) a Post Office; (iii) a Nidhi referred to in section 406 of the Companies Act, 2013 (18 of 2013) ; or (iv) a 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. Amount exceeding fifty thousand rupees or aggregating to more than five lakh rupees during a financial year. 13. Payment for one or more pre-paid payment instruments, as defined in the policy guidelines for issuance and operation of pre-paid payment instruments issued by Reserve Bank of India under section 18 of the Payment and Settlement Systems Act, 2007 (51 of 2007), to 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) or to any other company or institution. Payment in cash or by way of a bank draft or pay order or banker s c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion with travel includes payment towards fare, or to a travel agent or a tour operator, or to an authorised person as defined in clause (c) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999); (2) travel agent or tour operator includes a person who makes arrangements for air, surface or maritime travel or provides services relating to accommodation, tours, entertainment, passport, visa, foreign exchange, travel related insurance or other travel related services either severally or in package; (3) time deposit means any deposit which is repayable on the expiry of a fixed period. 114C . Verification of Permanent Account Number in transactions specified in rule 114B .- (1) Any person being,- (a) a registering officer or an Inspector-General appointed under the Registration Act, 1908 (16 of 1908); (b) a person who sells the immovable property or motor vehicle; (c) a manager or officer of a banking company or co-operative bank, as the case may be, referred to at Sl. No. 2 or 3 or 10 or 11 or 12 or 13 of rule 114B; (d) post master; (e) stock broker, sub-broker, share transfer agent, banker to an issue, trustee of a trust deed, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... containing particulars of such declaration 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 and obtain an acknowledgement number; and (ii) retain Form No. 60 for a period of six years from the end of the financial year in which the transaction was undertaken. (2) The statement referred to in clause (i) of sub-rule (1) shall,- (i) where the declarations are received by the 30th September, be furnished by the 31 st October of that year; and (ii) where the declarations are received by the 31st March, be furnished by the 30th April of the financial year immediately following the financial year in which the form is received. (3) The statement referred to in clause (i) of sub-rule (1) shall be verified- (a) in a case where the person furnishing the statement is an assessee as defined in clause (7) of section 2 of the Act , by a person specified in section 140 of the Act ; (b) in any other case, by the person referred to in rule 114C . 114E . Furnishing of statement of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aggregating to ten lakh rupees or more in a financial year 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 (6 of 1898); (iii) Nidhi referred to in section 406 of the Companies Act, 2013 (18 of 2013); (iv) Non-banking financial company which holds a certificate of registration under section 45-IA of the Reserve Bank of India Act, 1934 (6 of 1934), to hold or accept deposit from public. 4. Payments made by any person of an amount aggregating to- (i) one lakh rupees or more in cash; or (ii) ten lakh rupees or more by any other mode, against bills raised in respect of one or more credit cards issued to that person, in a financial year. 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) or any other comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er section 6 of that Act . 11. Receipt of cash payment exceeding two lakh rupees for sale, by any person, of goods or services of any nature (other than those specified at Sl. No. 1 to 10 of this rule, if any. Any person who is liable for audit under section 44AB of the Act . (3) The reporting person mentioned in column (3) of the Table under sub-rule (2) (other than the person at Sl.No.9) shall, while aggregating the amounts for determining the threshold amount for reporting in respect of any person as specified in column (2) of the said Table,- (a) take into account all the accounts of the same nature as specified in column (2) of the said Table maintained in respect of that person during the financial year; (b) aggregate all the transactions of the same nature as specified in column (2) of the said Table recorded in respect of that person during the financial year; (c) attribute the entire value of the transaction or the aggregated 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) app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rocedure and the manner of maintaining information as specified by its regulator and ensure compliance with the obligations imposed under section 285BA of the Act and rules 114B to 114D and this rule. Explanation 1.- Designated Director means a person designated by the reporting person to ensure overall compliance with the obligations imposed under section 285BA of the Act and the rules 114B to 114D and this rule and includes- (i) the Managing Director or a whole-time Director, as defined in the Companies Act, 2013 (18 of 2013) , duly authorised by the Board of Directors if the reporting person is a company; (ii) the managing partner if the reporting person is a partnership firm; (iii) the proprietor if the reporting person is a proprietorship concern; (iv) the managing trustee if the reporting person is a trust; (v) a person or individual, as the case may be, who controls and manages the affairs of the reporting entity if the reporting person is, an unincorporated association or, a body of individuals or, any other person. Explanation 2.- Principal Officer means an officer designated by the reporting person referred to in the Table in sub-ru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... First Name Middle Name Surname ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b Other than agricultural income (Rs.) 23 Details of document being produced in support of identify in column 1 (Refer instruction overleaf). Document Code. Document identification number. Name and address of the authority issuing the document. 24 Details of document being produced in support of address in columns 4 to 13 (Refer Instruction overleaf). Document Code. Document identification number. Name and address of the authority issuing the document. Verification I, __________________________________ do hereby declare that what is stated above is true to the best of my knowledge and belief. I further declare that I do not have a Permanent Account Number and my/our estimated total income (including income of spouse, minor child etc. as per section 64 of Income-tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... riving License 05 Yes Yes 6 Passport 06 Yes Yes 7 Pensioner photo card 07 Yes Yes 8 National Rural Employment Guarantee Scheme (NREGS) job card 08 Yes Yes 9 Caste or domicile certificate bearing photo of the person 09 Yes Yes 10 Certificate of identity/address signed by a Member of Parliament or Member of Legislative Assembly or Municipal Councillor or a Gazetted Officer as per annexure A prescribed in Form 49A 10 Yes Yes 11 Certificate from employer as per annexure B prescribed in Form 49A 11 Yes Yes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 No Yes B For Association of Persons (trusts) Copy of trust deed or copy of certificate of registration issue by Charity Commissioner 27 Yes Yes C For association of persons (other than Trusts) or body of individuals or Local Authority or Artificial Juridicial Person) Copy of Agreement or copy of certificate of registration issued by Charity Commissioner or Registrar of Cooperative Society or any other competent authority or any other document originating from any Central or State Government Department establishing identity and address of such person. 28 Yes Yes In case of a transaction in the name of a Minor, any of the above mentioned documents as proof of Identity and Address of any of parents/guardians of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Number of Reports A.3 PRINCIPLE OFFICER DETAILS A.3.1 Officer Name A.3.2 Officer Designation A.3.3 Address A.3.4 City/Town A.3.5 Postal Code A.3.6 State Code Insert 2 character code A.3.7 Country Code Insert 2 character code A.3.8 Telephone A.3.9 Mobile A.3.10 Fax A.3.11 Email PART B:- REPORT DETAILS FOR FINANCIAL TRANSACTIONS B.1 REPORT NUMBER (To be provided for each person being reported) B.1.1 Report Serial Number ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... data records in a file and an automated validation check will be undertaken. The Sender should do a technical check of the data file content using XML tools to make sure all Validation elements are present and if they are not, the sender should correct the file. The Income-tax Department will also do so and if incorrect, will reject the file. (Optional) Mandatory (Optional) Mandatory data element is not required for schema validation but is required for reporting depending on availability of information or other factors. These elements may be present in most (but not all) circumstances, so the validation will be based rule based. Optional An optional element specified in form. May be reported if available. SPECIFIC INSTRUCTIONS S. No. Element Description Requirement A.1.1 Reporting Person Name. Complete name of the reporting person. Validation A.1.2 ITDREIN (Income-tax Department Reporting Entity Identifica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eason of Correction. Reason for revision to be stated when the original Statement is corrected. Permissible values are: A - Acknowledgement of original Statement had many errors which are being resolved. B - Errors in original Statement are being corrected suo-motu. C - The correction report is on account of additional information being submitted. N - Not applicable as this is a new statement/test data/ there is no data to report. Z - Other reason. Validation. A.2.5 Statement Date. This identifies the date and time when the Statement was compiled. This element will be automatically populated by the host system. The format for use is YYYY-MM-DD hh:mm:ss. Fractions of seconds is not used. Example: 2016-03-15T09:45:30. Validation. A.2.6 Reporting Period. This identifies the reporting period in YYYY-MM-DD format. For example, if reporting information for the declaration received between 01-04-2016 to 30-06-2016, the field would read, 2016-04- 01 to 2016-06-30 . Validation. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... transactions. B.1.1 Report Serial Number. The number uniquely represents a report within a Statement. The Report Serial Number should be unique within the Statement. This number along with Statement ID will uniquely identify any report received by ITD. Validation. B.1.2 Original Report Serial Number. The Report Serial Number of the original report that has to be replaced or deleted. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, mention 0 here. Validation. B.2.1 Person Name. Name of the individual or entity. Validation. B.2.2 Date of birth/Incorporation. Individual: Actual Date of Birth; Company: Date of incorporation; Association of Persons: Date of formation/creation; Trusts: Date of creation of Trust Deed; Partnership Firms: Date of Partnership Deed; LLPs: Date of incorporation/Registration; HUFs: Date of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... treet, locality, city, state, Postal Code and country. Validation. B.2.9 City / Town. Name of City, Town or Village. (Optional) Mandatory. B.2.10 Postal Code. In case of India, the 6 digit Pin code as per India Posts has to be mentioned. In case of countries outside India, respective code may be used. If Pin code is not available, use XXXXXX. Validation. B.2.11 State Code. The two digit state code has to be mentioned as per Indian Motor Vehicle Act 1988. If state code is not available, use XX. Validation. B.2.12 Country Code. The Country Code as per ISO 3166 has to be mentioned. Use IN for India. If Country Code is not available, use XX. Validation. B.2.13 Mobile/Telephone Number. Primary Telephone (STD Code Telephone number) or mobile number (if available). (Optional) Mandatory. B.2.14 Estimate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 05 -Online transfers. 06 -Others. Validation. FORM No. 61A [See rule 114E] Statement of Specified Financial Transactions under section 285BA(1) of the Income-tax Act, 1961 PART A: STATEMENT DETAILS (This information should be provided for each Statement submitted together) A.1 REPORTING ENTITY DETAILS A1.1 Reporting entity name A1.2 Income-tax Department Reporting Entity Identification Number A1.3 Registration number A.2 STATEMENT DETAILS A.2.1 Statement Type Insert 2 character code A.2.2 Statement Number A.2.3 Original Statement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... B.2.5 Father's Name (for individuals) B.2.6 PAN B.2.7 Aadhaar Number (for individuals) B.2.8 Form 60 Acknowledgment B.2.9 Identification Type Insert 1 character code B.2.10 Identification Number B.2.11 Date of birth/Incorporation B.2.12 Nationality/Country of Incorporation Insert 2 character code B. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... B.4.6 Related Account Number B.4.7 Related Institution Name B.4.8 Related Institution Ref Number B.4.9 Remarks PART C: REPORT DETAILS FOR BANK/POST OFFICE ACCOUNT (This information should be provided for each Account being reported) C.1 REPORT NUMBER (To be provided for each account being reported) C.1.1 Report Serial Number C.1.2 Original Report Serial Number C.2 ACCOUNT DETAILS C.2.1 Account Type Insert 2 character code C.2.2 Account Number C.2.3 Account Holder Name C.2.4 Account Status ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dividuals) C.4.7 PAN C.4.8 Aadhaar Number (for individuals) C.4.9 Form 60 Acknowledgment C.4.10 Identification Type Insert 1 character code C.4.11 Identification Number C.4.12 Date of birth/Incorporation C.4.13 Nationality/Country of Incorporation Insert 2 character code C.4.14 Business or occupation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... C.2.8 City /Town C.2.9 Postal Code C.2.10 State Code Insert 2 character code C.2.11 Country Code Insert 2 character code C.2.12 Stamp Value C.2.13 Remarks C.4 PERSON DETAILS (To be provided for each person related to the transactions) D.3.1 Transaction Relation Insert 1 character code D.3.2 Transaction Amount related to the Person D.3.3 Person Name Inse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The requirement field for each data element indicates whether the element is validation or optional in the schema. Validation Validation elements MUST be present for ALL data records in a file and an automated validation check will be undertaken. The Sender should do a technical check of the data file content using XML tools to make sure all Validation elements are present and if they are not, the sender should correct the file. The Income-tax Department will also do so and if incorrect, will reject the file. (Optional) Mandatory (Optional) Mandatory data element is not required for schema validation but IS required for reporting depending on availability of information or other factors. These elements may be present in most (but not all) circumstances, so the validation will be based rule based. Optional An optional element specified in form. May be reported if available. SPECIFIC INSTRUCTIONS S. NO. ELEMENT DESCRIPTION REQUIREMENT A.1.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Statement ID of the original Statement which is being replaced deleted or referred by reports in the current Statement. In case the Statement is new and unrelated to any previous Statement, mention 0 here. Validation B.1.1 Report Serial Number. The number uniquely represents a report within a Statement. The Report Serial Number should be unique within the Statement. This number along with Statement ID will uniquely identify any report received by ITD. Validation. B.1.2 Original Report Serial Number. The Report Serial Number of the original report that has to be replaced or deleted. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, mention 0 here. Validation. B.2.1 Person Name. Name of the individual or entity. Validation. B.2.2 Person Type. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Date of birth/Incorporation. Individual: Actual Date of Birth; Company: Date of incorporation; Association of Persons: Date of formation/creation; Trusts: Date of creation of Trust Deed; Partnership Firms: Date of Partnership Deed; LLPs: Date of incorporation/Registration; HUFs: Date of creation of HUF and for ancestral HUF date can be 01-01-0001 where the date of creation is not available. The data format is DD/MM/YYYY Mandatory if valid PAN is not reported. (Optional) Mandatory. B.2.12 Nationality/Country of Incorporation. 2 character Country Code (ISO 3166). (Optional) Mandatory. B.2.13 Business or occupation. Business or occupation (if available). Optional. B.2.14 Address. Complete address of the person consisting of house number, building name, street, locality, city, state, Postal Code and country. Validation. B.2.15 Address Type. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Optional) Mandatory. B.3.3 Aggregate gross amount received from the person in cash. Aggregate gross amount received from the person in cash during the period. (Optional) Mandatory. B.3.4 Aggregate gross amount paid to the person. Aggregate gross amount paid to the person during the period. (Optional) Mandatory. B.3.5 Related Account Number. Account number (if available) from/to which funds was transferred. Optional. B.3.6 Related Institution Name. Name of the institution (if available) from / to which funds were transferred. Optional. B.3.7 Related Institution Ref Number. Institution reference number of the institution (if available) from / to which funds were transferred. Optional. B.3.8 Remarks. Remarks or any other information. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion C.1.2 Original Report Serial Number. The Report Serial Number of the original report that has to be replaced or deleted. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, mention 0 here. Validation. C.2.1 Account Type. Type of account. Permissible values are: BS - Savings Account BC - Current Account XX - Not Categorised. Validation. C.2.2 Account Number. Provide the account number used by the financial institution to identify the account. If the financial institution does not have an account number then provide the functional equivalent unique identifier used by the financial institution to identify the account. Validation. C.2.3 Account Holder Name. Name of first/sole account holder. Validation. C.2.4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xample 0120-2894016). Optional. C.2.15 Email. E-mail of the Branch head. Validation. C.2.16 Remarks. Remarks or any other information. Optional. C.3.1 Aggregate gross amount credited to the account in cash. Aggregate gross amount credited to the account in cash. Validation. C.3.2 Aggregate gross amount debited to the account in cash. Aggregate gross amount debited to the account in cash during the period. Validation. C.3.3 Remarks. Remarks or any other information. Optional. C.4.1 Account Relationship. Permissible values for Relationship type are: F - First/Sole Account Holder S - Second Account Holder T - Third Account Holder A - Authorised Signatory C - Controlling Person Z - Others X - Not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the identification document Mandatory if valid PAN is not reported. (Optional) Mandatory. C.4.12 Date of birth/Incorporation. Individual: Actual Date of Birth; Company: Date of incorporation; Association of Persons: Date of formation/creation; Trusts: Date of creation of Trust Deed; Partnership Firms: Date of Partnership Deed; LLPs: Date of incorporation/Registration; HUFs: Date of creation of HUF and for ancestral HUF date can be 01-01-0001 where the date of creation is not available. The data format is DD/MM/YYYY Mandatory if valid PAN is not reported. (Optional) Mandatory. C.4.13 Nationality/Country of Incorporation. 2 character Country Code (ISO 3166). (Optional) Mandatory. C.4.14 Business or occupation. Business or occupation (if available). Optional. C.4.15 Address. Complete address of the person consisting of house number, building name, street, locality ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Validation. D.1.2 Original Report Serial Number The Report Serial Number of the original report that has to be replaced or deleted. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, mention 0 here. Validation. D.2.1 Transaction Date. Date of transaction. The data format is DD/MM/YYYY. Validation. D.2.2 Transaction ID. Unique ID to identify transaction, if available. (Optional) Mandatory. D.2.3 Transaction Type. Permissible values are: SP Sale GF - Gift AG - Agreement to Sell PR - Partition ST - Settlement RL - Relinquishment ER - Extinguishment of any right in the asset CA - Compulsory acquisition TP - Transfer as per the section 53A of the Transfer of Property Act, 1882(4 of 1882). SH - Transfer by acquisition of shares ZZ Others ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Seller/Transferor B - Buyer/Transferee C - Confirming Party P - Power of Attorney holder Z - Others X - Not Categorized Validation. D.3.2 Transaction Amount related to the person. Amount of transaction related to the person. The amount should be rounded off to nearest rupee without decimal. If this amount is not in Indian Rupees, then convert to Indian Rupees. (Optional) Mandatory. D.3.3 Person Name. Name of the individual or entity. Validation. D.3.4 Person Type. The permissible values are: IN - Individual SP- Sole Proprietorship PF- Partnership Firm HF - HUF CR - Private Limited Company CB - Public Limited Company SO - Society AO - Association of persons/Body of individuals TR - Trust LI - Liquidator LL - LLP ZZ - Others XX Not Categorised. Validation. D.3.5 Gender (for individuals). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Complete address of the person consisting of house number, building name, street, locality, city, state, Postal Code and country. Validation. D.3.15 City / Town. Name of City, Town or Village. (Optional) Mandatory. D.3.16 Postal Code. In case of India, the 6 digit Pin code as per India Posts has to be mentioned. In case of countries outside India, respective code may be used. If Pin code is not available, use XXXXXX. Validation. D.3.17 State Code. The two digit state code has to be mentioned as per Indian Motor Vehicle Act 1988. If state code is not available, use XX. Validation. D.3.18 Country Code. The Country Code as per ISO 3166 has to be mentioned. Use IN for India. If Country Code is not available, use XX. Optional. D.3.19 Mobile/Telephone Number. Primary Telephone (S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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