The following persons are required to submit Annual Information Return.
- A Banking Company - Cash deposits aggregating Rs. 10 Lakh or more in a year in any savings account of a person maintained in that Bank.
- A banking Company or any other company or Institution issuing credit card - Rs. 2lakhs or more in a year paid for bills raised in respect of credit card issued.
- A trustee of Mutual Fund - Receipt from any person of amount of Rs. 2 Lakh or more for acquiring units of that fund.
- A company or institution issuing bonds or debentures - Receipt from any person of an amount of Rs. 5 Lakh or more for acquiring bonds or debentures issued by the company or institution.
- A company issuing shares through a public or right issue - Receipt from any person of an amount of Rs. 1 Lakh or more for acquiring shares issued by the company.
- Registrar or Sub-Registrar appointed under the Registration Act, 1908 - Purchase of sale by any person of immovable property valued at Rs. 30 Lakhs or more.
- A person being an officer of RBI, or person authorised by RBI - Receipt from any person of an amount or amounts aggregating to Rs. 5 Lakh or more in a year for bonds issued by the Reserve Bank of India.
The return should be furnished to Commissioner of Income Tax (Central Information Branch).
Return should be filed in the Form No. 61A comprising of Part A and part B.
Return should be filed on or before August 31.
Posted 3 years ago by CA Pulkit Sharma
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