Quarterly return obligations for time deposit interest must be filed in the prescribed form on electronic media with verification. The rules require branches of banking companies to maintain particulars of time deposits in Form No. 26QA, with computer-stored particulars where daily accounts are on computer media. Quarterly returns for interest on such time deposits must be furnished in Form No. 26QAA, verified, filed with the Director General of Income-tax (Investigation) or an authorised person, submitted on CD-ROM or DVD with Part A on paper, and accompanied by any decompression utility and a certificate of clean, virus-free data. Time deposits exclude recurring deposits.
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Provisions expressly mentioned in the judgment/order text.
Quarterly return obligations for time deposit interest must be filed in the prescribed form on electronic media with verification.
The rules require branches of banking companies to maintain particulars of time deposits in Form No. 26QA, with computer-stored particulars where daily accounts are on computer media. Quarterly returns for interest on such time deposits must be furnished in Form No. 26QAA, verified, filed with the Director General of Income-tax (Investigation) or an authorised person, submitted on CD-ROM or DVD with Part A on paper, and accompanied by any decompression utility and a certificate of clean, virus-free data. Time deposits exclude recurring deposits.
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