Deepak Gupta | Apr 8, 2018 |
CBDT notifies procedure for persons who have received declarations in Form No. 60
CBDT vide Notification No. 2 of 2018 dated5th April, 2018has notifiedProcedure for registration and submission of Form No. 61 as per Rule 114D of Income-tax Rules, 1962.
Persons specified in rule 114C and who are required to get their accounts audited under section 44AB of the Income Tax Act,1961 (hereunder referred to as the Act) who has received any declaration in Form No. 60, in relation to a transaction specified in rule114B, shall furnish a statement in Form No. 61.
Persons specified in rule 114C are given below:
[ Kindly referCBDT notifies procedure for person who do not have a PAN & who enters into specified transactionfor S. No. referred inrule 114B]
| (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, registrar to issue, merchant banker, underwriter, portfolio manager, investment adviser and such other intermediaries registered under sub-section (1) section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992); | |
| (f) | a depository, participant, custodian of securities or any other person registered under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) referred to at Sl. No. 4 of rule 114B; | |
| (g) | the principal officer of a company referred to at Sl. No. 3 or 4 or 8 or 12 or 13 or 15 or 16 of rule 114B; | |
| (h) | the principal officer of an institution referred to at Sl. No. 2 or 3 or 8 or 10 or 11 or 12 or 13 of rule 114B; | |
| (i) | any trustee or any other person duly authorised by the trustee of a Mutual Fund referred to at Sl. No. 7 of rule 114B; | |
| (j) | an officer of the Reserve Bank of India, constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934), or of any agency bank authorised by the Reserve Bank of India; | |
| (k) | a manager or officer of an insurer referred to at Sl. No. 14 of rule 114B, | |
| (l) | Any person, being a person raising bills referred to at Sl. No. 5 or 6 or 18 of rule 114B |
This statement is submitted electronically.
The statement shall be furnished:
(i) Where the declarations are received till 30th September, by the 31st October of that year; and
(ii) Where the declarations are received till 31st March, by the 30th April of the financial year immediately following the financial year in which the form is received
Already registered reporting persons/entities on e-filing portal: The registration details of already registered reporting persons/entities have been migrated from e-filing portal to Reporting Portal. The registered users of such reporting persons/entities shall be communicated of their new login credentials through registered e-mail to be used at Reporting Portal. There is no need of registering again for such persons/entities.
New Registration, Generation of Income Tax Department Reporting Entity Identification Number (ITDREIN):The reporting person/entity is required to get registered with the Income Tax Department by logging in to the e-filing websitewith the log in ID used for the purpose of filing the Income Tax Return of the reporting person/entity. The reporting person/entity needs to click on Reporting Portal link under My Account tab at e-filing portal to access Reporting Portal for first time registration. The reporting person/entity will mandatorily be required to enter the details of form type, category and address of reporting person/entity along with details of Principal Officer. On successful submission, the ITDREIN is generated and the Principal Officer will receive a confirmation e-mail on his/her registered e-mail address and SMS at his/her registered mobile number. There will be no option to de-activate ITDREIN, once it is generated.
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