Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Statement of Financial Transactions requirement: reporting mandates electronic submission, designated officer accountability and specified transaction disclosures. The rule mandates furnishing a statement of financial transactions in Form 61A for specified high-value transaction categories, with defined classes of reporting persons required to report. Reporting persons must aggregate like transactions/accounts per person, attribute full value for joint accounts, and apply thresholds as prescribed. Form 61A is generally to be transmitted electronically using a digital signature in the data structure and security formats specified by the Principal Director General of Income-tax (Systems); limited machine-readable media exceptions apply. Designated Directors and Principal Officers bear registration and compliance duties, and the statement must be signed and verified by the Designated Director or authorised proxy.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Statement of Financial Transactions requirement: reporting mandates electronic submission, designated officer accountability and specified transaction disclosures.
The rule mandates furnishing a statement of financial transactions in Form 61A for specified high-value transaction categories, with defined classes of reporting persons required to report. Reporting persons must aggregate like transactions/accounts per person, attribute full value for joint accounts, and apply thresholds as prescribed. Form 61A is generally to be transmitted electronically using a digital signature in the data structure and security formats specified by the Principal Director General of Income-tax (Systems); limited machine-readable media exceptions apply. Designated Directors and Principal Officers bear registration and compliance duties, and the statement must be signed and verified by the Designated Director or authorised proxy.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
