Banks must report foreign exchange transactions electronically to the designated receiving authority per new customs rules. A banking company must electronically furnish details of all foreign exchange transactions as specified in Annexure-I to the designated receiving authority; the information must be verified and signed by the authorised person. An Information-Administrator may specify the format, mandatory fields, periodicity, procedures, data structures, and security, and until modalities are prescribed the information may be furnished through a secure electronic medium.
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.
Banks must report foreign exchange transactions electronically to the designated receiving authority per new customs rules.
A banking company must electronically furnish details of all foreign exchange transactions as specified in Annexure-I to the designated receiving authority; the information must be verified and signed by the authorised person. An Information-Administrator may specify the format, mandatory fields, periodicity, procedures, data structures, and security, and until modalities are prescribed the information may be furnished through a secure electronic medium.
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