Notifications

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Submission of Annual Information Return relating to issue of Bonds for Rs. 5 lakh or more under Section 285 BA of Income Tax Act, 1961

RBI/2005-06/96
Ref.No.DGBA.CDD.13.01.299 / H - 739 -768 / 2005-06

August 5, 2005
Shravana 14, 1927 (S)

The Chairman/ Managing Director State Bank of India/Associate Banks/
17 Nationalised Banks/ UTI Bank Ltd., ICICI Bank Ltd.,
HDFC Bank Ltd., IDBI Bank Ltd./
Stock Holding Corporation of India Ltd.

Dear Sir,

Submission of Annual Information Return relating to issue of Bonds for Rs. 5 lakh or more under Section 285 BA of Income Tax Act, 1961

You have been authorized to issue Savings Bonds Notified by the Government of India on behalf of Reserve Bank of India. In this connection, you may be aware that the offices accepting deposits under these schemes are required to furnish Annual Information Return as contemplated in Section 285 BA of the Income Tax Act, 1961 read with Rule 114E of the Income Tax Rules, 1962 to the concerned Income Tax authorities before the due date i.e., August 31, 2005, if the aggregate of the amount received from a person is Rs.5 lakh or more in a year i.e., during the period April 1, 2004 to March 31, 2005. In terms of Section 2 (31) of the Income Tax Act, 1961, a person has been defined to include (i) an individual, (ii) a Hindu undivided family, (iii) a company, (iv) a firm, (v) an association of person or a body of individuals, whether incorporated or not, (vi) a local authority, and (vii) every artificial juridical person, not falling with any of the preceding sub-clauses. We, therefore, advise you to file the Annual Information Return in respect of Savings Bonds issued by you, if not already done.

2. In the case of 6.5% Savings Bonds, 2003 (Non -Taxable), the data for the period from April 1, 2004 till the closure of the scheme may be furnished. However, the information pertaining to 8% Saving (Taxable) Bonds, 2003, should cover the financial year beginning on the 1st day of April 2004.

3. Please submit the Annual Information Report on or before August 31, 2005, if not already done, in respect of your bank / corporation and furnish compliance to us.

4. Please acknowledge receipt by return fax (No.022 - 2301 0095 / 2300 0370).

Yours faithfully,

(B. B. Sangma)
General Manager


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