Rules/Amendment
Rules
I.T. (Twenty-first
Amdt.) Rule, 2005
Income-tax (Twenty
First) Amendment - Rules, 2005 - Substitution of rule 114E; omission of Form
No. 65 and insertion of Form No. 61A in Appendix II of Income-tax Rules, 1962
Notification No. 182/2005 [F.No.
142/44/2003-TPL], Dated 11-7-2005
In exercise of the powers conferred by section 295 read
with section 285BA of Income-tax Act, 1961 (43 of 1961), the Central Board of
Direct Taxes hereby makes the following rules further to amend the Income-tax
Rules, 1962, namely:—
1. (1) These rules may be called the Income-tax (Twenty-first
Amendment) Rules, 2005.
(2) They shall be deemed to have come into force from
the 1st day of December, 2004.
2. In the Income-tax Rules, 1962,—
(a) for rule 114E, the following shall be
substituted, namely :—
‘114E. Furnishing
of Annual Information Return.—(1) The annual information return required to
be furnished under sub-section (1) of section 285BA shall be furnished in Form
No. 61A and shall be verified in the manner indicated therein.
(2) The return
referred to in sub-rule (1) shall be furnished by every person mentioned in
column (2) of the Table below in respect of all transactions of the nature and
value specified in the corresponding entry in column (3) of the said Table,
which are registered or recorded by him during a financial year beginning on or
after the 1st day of April, 2004:—
Table
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Sl. No. |
Class of person |
Nature and value of
transaction |
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(1) |
(2) |
(3) |
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1 |
A Banking company to which the Banking Regulation
Act, 1949 (10 of 1949), applies (including any bank or banking institution
refer- red to in section 51 of that Act). |
Cash deposits aggregating to ten lakh rupees or more in
a year in any savings account of a person maintained in that bank. |
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2. |
A banking company 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 company or institution
issuing credit card. |
Payments made by any person against bills raised in
respect of a credit card issued to that person, aggregating to two lakh
rupees or more in the year. |
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3. |
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. |
Receipt from any person of an amount of two lakh
rupees or more for acquiring units of that Fund. |
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4. |
A company or institution issuing bonds or debentures. |
Receipt from any person of an amount of five lakh
rupees or more for acquiring bonds or debentures issued by the company or
institution. |
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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. |
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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. |
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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 return referred to in
sub-rule (1) shall be furnished to the Commissioner of Income-tax (Central
Information Branch):
Provided that where the Board has authorised an agency to receive
such return on behalf of the Commissioner of Income-tax (Central Information
Branch), the return shall be furnished to that agency.
(4)(a) The return
comprising Part A and Part B of Form No. 61A referred to in sub-rule (1) shall
be furnished on computer readable media being a floppy (3.5 inch and 1.44 MB
capacity) or CD-ROM (650 MB or higher capacity) or Digital Video Disc (DVD),
along with Part-A thereof on paper.
Provided that a person responsible for furnishing the return, may, at
his option, furnish the return through online transmission of electronic data
to a server designated by the “Annual Information Return - Administrator”
referred to in sub-rule (7) for this purpose under the digital signature of the
person specified in sub-rule 6:
Provided further that the return shall be prepared in accordance with the
data structure specified by the “Annual Information Return - Administrator”
referred to in sub-rule (7) in this regard;
(b) The person responsible
for furnishing the return shall ensure that—
(i) if the data relating to the return or
statement is copied using data compression or backup software utility, the
corresponding software utility or procedure for its decompression or
restoration shall also be furnished along with the computer media return or
statement;
(ii) the return is accompanied with a certificate
regarding clean and virus free data.
Explanation.—For the purposes of this sub-rule, “digital signature” means
a digital signature issued by any Certifying Authority authorised to issue such
certificates by the Controller of Certifying Authorities.
(5) The return referred to in
sub-rule (1) shall be furnished on or before 31st August, immediately following
the financial year in which the transaction is registered or recorded.
(6) The return referred to in
sub-rule (1) shall be signed and verified by-
(a) in a case where the person furnishing the
return 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 column (2) of the Table below sub-rule (2).
(7) The Board may appoint an
officer designated as Annual Information Return-Administrator, not below the
rank of the Commissioner of Income-tax for the purposes of day to day
administration of furnishing of the Annual Information Return 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’;
(b) in Appendix-II,
(i) Form No. 65 relating to Annual Information
Return under section 285BA of the Income-tax Act, 1961, inserted vide
the Income-tax (17th Amendment Rules), 2004 shall be omitted;
(ii) after Form No. 61, the following Form shall
be inserted, namely:—
“FORM No. 61A
[See rule 114E]
(PART-A)
n Please
see the instructions and fill up relevant columns
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1. Name of the person (in block letters) |
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(Please leave one blank box between two
words.)
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2.
Permanent Account Number (PAN) of the person (see instructions) |
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3.
Folio Number of the person (see instructions) |
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4. Address
(in block letters) (Please leave one blank box between two words.)
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4.1 Flat No. |
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4.2
House/Premises No. |
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4.3 Floor
No. |
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4.4
Building Name |
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4.5 Block/Sector |
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4.6
Road/Street |
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4.7
Locality/Colony |
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4.8 City |
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4.9 State
Code (Refer to State Code in instructions) |
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4.10 Pin
Code |
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5. Status |
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(Individual-I, Company-C, Firm-F, Hindu undivided family-H,
Government Office-G, Banks-B, Others-O) |
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6.
Financial Year (transactions relating to which are reported) |
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7.
Address of Jurisdictional Commissioner of Income-tax (Central Information
Branch) |
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8.
Total number of transactions reported in Annual Information Return (Part B) |
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9.
Total value of all transactions reported in Annual Information Return (Part
B) Rs. |
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10.
Medium of Annual Information Return (Please strike off
inapplicable)-CD/Floppy/DVD/ONLINE
Verification
I,.............(full name in block letters),
son/daughter of......solemnly declare that to the best of my knowledge and
belief, the information given in Part A and Part B of this return is correct
and complete. I further declare that I am making this return in my capacity
as...........and I am also competent to make this return and verify it. I
further certify that the floppy/CD-ROM/Digital Video Disk/online data through
which Part-B is submitted is clean and virus free.
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Date..................... |
Signature............................................ |
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Place................... |
Name.................................................. |
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(FOR OFFICE USE) |
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Receipt No. |
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_________________________________________ |
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Date |
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_________________________________________ |
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Name & Signature of person receiving |
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_________________________________________ |
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Annual Information Return (with Stamp) |
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(PART- B) |
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1. Name of the person (in block letters) |
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