Authorising ‘agency’ for receiving Annual Information Returns on behalf of Commissioner of Income-tax (Central Information Branch) under section 285BA, read with rule 114E - In exercise of powers conferred under sub-section (1) of section 285BA of the Income-tax Act, 1961 (43 of 1961) read with Notification No. 182/2005/F.No. 142/44/2003-TPL, dated 11-7-2005, notifying the amended rule 114E regarding furnishing of Annual Information Return, the Central Board of Direct Taxes hereby authorises National Securities Depository Limited, Trade World, 4th Floor, Kamala Mills Compound, Lower Parel, Mumbai - 400 013, including its front offices called TIN Facilitation Centres to act as an ‘Agency’ authorized to receive Annual Information Return on behalf of Commissioner of Income-tax (Central Information Branch) under proviso to sub-rule (3) of rule 114E of the Income-tax Rules, 1962
Obligation to furnish Annual Information Return - Clarifications regarding furnishing of Annual Information Return under section 285BA - Section 285BA of the Income-tax Act, 1961 requires certain specified persons (filers) to file an Annual Information Return (AIR) in respect of specified financial transactions registered or recorded by him during a financial year. The nature of the transactions and the threshold value above on which information has to be submitted in the AIR are prescribed in the Table in rule 114E of Income-tax Rules, 1962. Rule 114E has been amended vide Notification No.182/2005, dated 11-7-2005. The Form in which the return is to be filed is Form No. 61A, notified vide Notification No. 185/2005. The CBDT has authorized National Securities Depository Ltd. (NSDL), Trade World, 4th Floor, Kamala Mills Compound, Lower Parel, Mumbai-400 013 as the agency authorized to receive AIRs on behalf of the Commissioner of Income-tax (Central Information Branch).The filers can furnish the AIR with the facilitation centres of NSDL located in different parts of the country. The addresses of these facilitation centres are available on the website www.incometaxindia.gov.in and www.tin.nsdl.com.
With a view to ensuring that the annual information return conforms to the required specifications, the person(s) responsible for filing return shall ensure the following:—