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Annual information return obligations require specified entities to report defined financial transactions to tax authorities on prescribed formats. The amendments expand rule 114B to add credit-card applications and certain payments/receipts relating to mutual funds, shares, debentures, bonds and Reserve Bank bonds, require PAN quoting or a Form No. 60 declaration where PAN is absent, and allow minors to quote a parent/guardian PAN. Rule 114C extends verification duties to principal officers, trustees and authorised officers to ensure correct PAN quoting. Rule 114D mandates forwarding copies of Forms No. 60/61 to the Commissioner (Central Information Branch) in two instalments. Rule 114E requires specified persons to furnish an Annual Information Return in Form No. 65 on prescribed electronic media with verification, signature and filing deadlines and technical instructions.
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Provisions expressly mentioned in the judgment/order text.
Annual information return obligations require specified entities to report defined financial transactions to tax authorities on prescribed formats.
The amendments expand rule 114B to add credit-card applications and certain payments/receipts relating to mutual funds, shares, debentures, bonds and Reserve Bank bonds, require PAN quoting or a Form No. 60 declaration where PAN is absent, and allow minors to quote a parent/guardian PAN. Rule 114C extends verification duties to principal officers, trustees and authorised officers to ensure correct PAN quoting. Rule 114D mandates forwarding copies of Forms No. 60/61 to the Commissioner (Central Information Branch) in two instalments. Rule 114E requires specified persons to furnish an Annual Information Return in Form No. 65 on prescribed electronic media with verification, signature and filing deadlines and technical instructions.
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