TaxTMI 
TaxTMI 
Procedure for registration and submission of statement as per clause (k) of section 285BA(1) of Income-tax Act, 1961 read with Rule 114G(7) of Income-tax Rules, 1962
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....ated for this purpose under the digital signature in accordance with the data structure specified in this regard by the Principal Director General of Income-tax (Systems). Further as per sub rule (9)(b) of Rule 114G Principal Director General of Income Tax (Systems) shall specify the procedures, data structures and standards for ensuring secure capture and transmission of data, evolving and implementing appropriate security, archival and retrieval policies. 2. In exercise of the powers delegated by Central Board of Direct Taxes ('Board') under Sub rule (9)(a) and 9(b) of Rule 114G of the Income tax Rules 1962, the Principal Director General of Income-tax (Systems) hereby lays down the following procedures: a) Generation of ITDREIN: The reporting financial institution is required to get registered with the Income Tax Department by logging in to the e-filing website (http://incometaxindiaefiling.gov.in/) with the log in ID used for the purpose of filing the Income Tax Return of the reporting financial institution. A link to register reporting financial institution has been provided ....
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....xisting registered entities: The reporting financial institutions that are already registered as an reporting entity for Form 61B with the Income tax Department will be able to view the ITDREIN details after logging in to the e-filing under "My Account>Manage ITDREIN". E-mail will be sent to the designated director for the activation of its access. Once activated, it will be able to view the existing form 61B/nil statement and will be able to upload 61B/ nil statement. 3. In view of the changes mentioned above, the procedures prescribed in Notification 3 dated 25^th August, 2015 and Notification No 4 dated 4^th September, 2015 stands withdrawn forthwith. (Gopal Mukherjee) Pr. DGIT (Systems), CBDT ============= Document 1 INCOME-TAX RULES, 1962 FORM NO. 61B [See sub-rule (8) of rule 114G] Statement of Reportable Account under sub-section (1) section 285BA of the Income-tax Act, 1961 (see instructions for guidance) PART A: STATEMENT DETAILS (This information should be provided for each Statement of Reports submitted together) A.1 REPORTING ENTITY DETAILS A.1.1 Reporting Entity Name A.1.2 ITDREIN A.1.3 Global In....
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....e gross amount debited INDIVIDUAL DETAILS (To be provided for individual account holder ) Name Customer ID B.4.3 Father's Name B.4.4 Spouse's Name B.4.5 Gender Insert 1 character code (Refer Instructions) B.4.6 PAN B.4.7 Aadhaar Number B.4.8 Identification Type Insert character code B.4.9 Identification Number B.4.10 Occupation Type Insert 1 character code B.4.11 Occupation B.4.12 Birth Date B.4.13 Nationality Insert 2 character code B.4.14 Country of Residence as per tax laws Insert 2 character code B.4.15 Place of Birth B.4.16 Country of Birth Insert 2 character code Tax Identification Number (TIN) allotted B.4.17 by tax resident country B.4.18 TIN Issuing Country B.4.19 Address Type Insert 2 character code Insert 2 character code B.4.20 Address B.4.21 City/Town B.4.22 Postal Code B.4.23 State Code B.4.24 Country Code B.4.25 Mobile/Telephone Number B.4.26 Other Contact Number B.4.27 Remarks 44 Insert 2 character code Insert 2 character code B.5 B.5.1 B.5.2 LEGAL ENTITY DETAILS....
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....ode Insert 2 character code Instructions to Form 61B General Instructions The requirement field for each data element indicates whether the element is validation or optional in the schema. Validation (Optional) Mandatory Optional Optional* Specific Instructions "Validation" elements MUST be present for ALL data records in a file and an automated validation check will be undertaken. The Sender should do a technical check of the data file content using XML tools to make sure all "Validation" elements are present and if they are not, the sender should correct the file. The Income-tax Department will also do so and if incorrect, will reject the file. An optional element that is required for reporting depending on availability of information or legal factors. These elements may be present in most (but not all) circumstances. The Income-tax Department will publish separate validation rules to check these. An optional element specified in form An optional element specified only in instructions. May be reported if available S. No. Element Description A.1.1 Reporting Entity Name A.1.2 ITDREIN (Income-tax ....
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....er allows both the sender and receiver to identify the specific Statement later if questions or corrections arise. After successful submission of the Statement to ITD, a new unique Statement ID will be allotted for future reference. The reporting entities should maintain the linkage between the Statement Number and Statement ID. Example of the statement number is 2015/01. In case if the original statement is being replaced by this statement, statement ID of the original Statement which is being replaced deleted or referred by reports in the current Statement. In case the Statement is new and unrelated to any previous Statement, mention '0' here. Requirement Validation Validation Validation A.2.4 Reason of Correction Reason for revision to be stated when the original Statement is corrected. A.2.5 Statement Date Validation Permissible values are: A - Acknowledgement of original Statement had errors which are being resolved B - Errors in original Statement are being corrected suo-motu C - The correction report is on account of additional information being submitted N - Not applicable as this i....
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....f the Principal Officer Validation A.3.11 Email B.1.1 Report Serial Number B.1.2 Original Report Serial Number B.1.3 Account Type The number uniquely represents a report within a Statement. The Report Serial Number should be unique within the Statement. This number along with Statement ID will uniquely identify any report received by ITD. Validation The Report Serial Number of the original report that has to be replaced Validation or deleted. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, mention '0' here. Type of account. Permissible values are: Validation • BS Savings Account • BC - Current Account • - BR Cash Credit/Overdraft Account • - BD Credit Card Account • BP Prepaid Card Account • BL - Loan Account • BT-Term Deposit Account • IL - Term Insurance Policy • IE - Endowment Policy • IA - Annuity Policy (Excluding ULIP) - • IU ULIP Policy • IB - Money Back P....
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.... obtain the self-certification or documentary evidence is not successful, the reporting financial institution must report the account as an undocumented account. Permissible values are: • D - Documented Validation Validation Mandatory Mandatory Validation • U- Undocumented B.1.11 Date of closure of Date of closure of account. This information is mandatory if the account was closed during the reporting period (Optional) Mandatory account, if closed during the reporting period 4 S. No. Element B.2.1 Branch Number Type Description The type of branch reference number used. Entities with no Branch reference number can use self-generated numbers to uniquely identify the branch. Permissible values are: R-Regulator Issued • B- BIC Requirement Validation • I - IFSC S-Self generated • Z-Other sources • X - Self Generated B.2.2 B.2.3 Branch Reference Number Branch Name IFSC is compulsory in case of banking institutions. The unique number to uniquely identify the branch. Reporting Financial Validation ....
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....tity. (Optional) Mandatory credited This information is mandatory for custodial account. 5 S. No. Element B.3.4 Gross B.3.5 proceeds from sale of property Aggregate gross amount of all other income paid or Description The gross proceeds from sale or redemption of property paid or credited to the account during the period with respect to which the reporting entity acted as a custodian, broker, nominee, or otherwise as an agent for the account holder. This information is mandatory for custodial account. The aggregate gross amount of all other income paid or credited to the account during the period. This information is mandatory for custodial account. Requirement (Optional) Mandatory (Optional) Mandatory credited to the account B.3.6 Aggregate Aggregate gross amount credited to the account during the period. Optional gross amount credited to the account B.3.7 Aggregate Aggregate gross amount debited to the account during the period. Optional gross amount debited to the account B.4.1 Name Validation Name of the Individual in whose nam....
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.... Department. This information is mandatory if PAN is required to be collected as per regulatory guidelines. (Optional) Mandatory B.4.7 Aadhaar Aadhar number issued by UIDAI Optional Number B.4.8 Identification Type Document submitted as proof of identity of the individual. Permissible values are: Validation • A - Passport • B Election Id Card ◠C PAN Card • D - ID Card • • E-Driving License GUIDAI Letter • H - NREGA job card • Z - Others • X - Not Categorised B.4.9 Identification Number Number mentioned in the identification document. This information is mandatory if PAN or Aadhar number is not reported (Optional) Mandatory B.4.10 Occupation Type Permissible values are: Validation • S - Service • B - Business • O - Others • ✗- Not Categorised B.4.11 Occupation Please specify occupation of the individual. Optional B.4.12 Birth Date This data element identifies the date of birth of the Individual Account Holder. The data format is DD/MM....
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.... City/Town Optional* Optional* Optional* Optional* B.4.21 B.4.22 Postal Code Name of City, Town or Village In case of India, the 6 digit Pin code as per India Posts has to be mentioned. In case of countries outside India, respective code may be used. If Pin code is not available, use XXXXXX. Validation Validation B.4.23 State Code The two digit state code has to be mentioned as per Indian Motor Vehicle Act 1988. In case of countries outside India, or if state code is not available, use XX. Validation B.4.24 Country Code The Country Code as per ISO 3166 has to be mentioned. Use IN for India. If Country Code is not available, use XX Validation B.4.25 Mobile/Teleph one Number Primary Telephone (STD Code-Telephone number) or mobile number (Please do not add "0" before the number) Optional B.4.26 Other Contact Number Other Telephone (STD Code-Telephone number) or mobile number (Please do not add "0" before the number) Optional B.4.27 Remarks Any additional information related to individual Optional B.5.1 Name of the Entity Name of the Legal Entity Validatio....
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....- Global Entity Identification Number (EIN) • O - Other This data element can be repeated if a second Identification is present B.5.10 Identification This data element provides the identification number used. No. 9 (Optional) Mandatory S. No. Element Description Requirement B.5.11 Identification issuing Country 2 character Country Code (ISO 3166). B.5.12 B.5.13 Place of Incorporation Country of Incorporation B.5.14 Country of Residence as per tax laws Identification B.5.15 Tax Number (TIN) allotted by tax Place of Incorporation. (Optional) Mandatory (Optional) Mandatory This data element describes the Country of Incorporation for the entity. (Optional) The Country Code as per ISO 3166 has to be mentioned This data element describes the tax residence country for the entity being reported upon and must be present in all data records. The Country Code as per ISO 3166 has to be mentioned. If the entity is certified or treated as tax resident in more than one jurisdiction then this element may be repeated. This data element identifies the Tax Ident....
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.... C04-CP of legal arrangement-trust-settlor • C05-CP of legal arrangement--trust-trustee • C06-CP of legal arrangement--trust-protector C07-CP of legal arrangement--trust-beneficiary • C08-CP of legal arrangement--trust-other • C09--CP of legal arrangement-Other-settlor equivalent · C10--CP of legal arrangement-Other-trustee equivalent • C11--CP of legal arrangement-Other-protector equivalent • • • C12--CP of legal arrangement—Other-beneficiary equivalent C13--CP of legal arrangement-Other-other equivalent C14--Unknown Requirement Mandatory B.6.2 Name Name of the Controlling Person i.e. natural persons who exercise control over an entity and includes a beneficial owner as determined under to sub-rule (3) of rule 9 of Prevention of Money-laundering (Maintenance of Records) Rules, 2005. Validation Reporting of Controlling person is mandatory for accounts of Passive Non-Financial Entity (F2, C1) Preceding Title Title of the person such as “His Excellencyâ€, “Estate of the lateâ€. Title Optional* Greeting title of the repor....
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....cation Type Document submitted as proof of identity of the individual. Permissible values are: Validation A - Passport • B - Election Id Card • C PAN Card D - ID Card • E - Driving License • GUIDAI Letter • H - NREGA job card • Z - Others • ✗- Not Categorised B.6.10 Identification Number Number mentioned in the identification document. This information is mandatory if PAN or Aadhar number is not reported (Optional) Mandatory B.6.11 Occupation Type Permissible values are: Validation S - Service • B - Business • O - Others • ✗- Not Categorised B.6.12 Occupation Please specify occupation of the individual. Optional 12 S. No. Element B.6.13 Birth Date B.6.14 Nationality B.6.15 Country of Residence as per tax laws Description This data element identifies the date of birth of the Individual Account Holder. The data format is DD/MM/YYYY. This information is mandatory if valid PAN is not reported. 2 character Country Code (ISO 3166) This data element des....