Furnishing of statement of financial transaction

What is reported (sub-rule 2). The reporting person in column 4 furnishes a statement of all transactions of the kind in column 2 at or above the value in column 3 that it has registered or recorded:

No.	Transaction	Value	Reporting person
1	(a) Cash payment for bank drafts, pay orders or banker's cheques; (b) payments for pre-paid instruments issued under section 18 of the Payment and Settlement Systems Act, 2007; (c) cash deposits or withdrawals in current accounts	(a) ten lakh rupees or more in a financial year for a person with a PAN, Rs. 5,00,000 or more for a person without; (b) ten lakh rupees or more; (c) fifty lakh rupees or more	Banking company or co-operative bank
2	Cash deposits in accounts other than current accounts and time deposits	Ten lakh rupees or more in a financial year for a person with a PAN; Rs. 5,00,000 or more for a person without	Bank, co-operative bank, or Post Master General / Regional Head
3	Time deposits (other than renewals)	Ten lakh rupees or more in a financial year	Bank, post office, Nidhi, or deposit-taking NBFC
4	Payments against credit card bills	Rs. 1,00,000 or more in cash, or ten lakh rupees or more by any other mode, in a financial year	Bank or any other company or institution issuing credit cards
5	Receipts for acquiring bonds or debentures (other than renewals)	Ten lakh rupees or more in a financial year, for a person	Issuing company or institution
6	Receipts for acquiring shares, including application money	Ten lakh rupees or more in a financial year, for a person	Issuing company
7	Buy back of shares (other than in the open market)	Ten lakh rupees or more in a financial year	Listed company buying back under section 68 of the Companies Act, 2013
8	Receipts for sale of foreign currency, including credit to a forex card, debit or credit card spend, travellers cheques or drafts	Ten lakh rupees or more in a financial year for a person with a PAN; Rs. 5,00,000 or more without	Authorised person under section 2(c) of the Foreign Exchange Management Act, 1999
9	Purchase, sale, gift or joint development agreement of immovable property	Forty-five lakh rupees or more, or stamp duty value (section 2(105)) of forty-five lakh rupees or more	Inspector-General, Registrar or Sub-Registrar under the Registration Act, 1908
10	Purchase of a stamp paper	Rs. 2,00,000 or more in one transaction for a person with a PAN; Rs. 1,00,000 or more without	Stock Holding Corporation of India Limited
11	Receipt of insurance premium	Rs. 5,00,000 or more in a financial year for a person with a PAN; Rs. 2,50,000 or more without	Insurer under section 2(9) of the Insurance Act, 1938
12	Receipt of cash for sale of goods or services (other than Nos. 1 to 11)	Exceeding Rs. 2,00,000	Any person liable for audit under section 63

Aggregation (sub-rule 3). Except for Nos. 9, 10 and 12, the reporting person counts all accounts of the same nature of that person in the financial year, aggregates all transactions of the same nature, attributes the whole value to every person where an account or transaction is in more than one name, and applies the threshold separately to deposits and withdrawals for item 1(c).

Furnishing (sub-rules 1, 4, 5, 8). In Form No. 165, verified as the form indicates, to the Director or Joint Director of Income-tax (Intelligence and Criminal Investigation) by online transmission to a designated server under the digital signature of the Designated Director (or, for a non-resident reporting person, a person holding a power of attorney from the Designated Director), on or before 31 May after the financial year in which the transaction is registered or recorded. The Post Master General, Registrar or Inspector General may furnish it on computer-readable media with a paper verification.

Pre-filing data (sub-rule 6). For pre-filling the return, recognised stock exchanges, depositories, clearing corporations and registrars and share transfer agents report capital gains on transfer of listed securities or Mutual Fund units; companies report dividends distributed; and banks, post offices and deposit-taking NBFCs report interest paid or credited — in the form, frequency and manner the Director General of Income-tax (Systems) specifies with the Board's approval.

Registration and duties (sub-rules 7 and 9). Every reporting person communicates the name, designation, address and telephone number of its Designated Director and Principal Officer to the Principal Director General of Income-tax (Systems) and obtains a registration number, and observes its regulator's procedure and the obligations in section 508 and rules 159, 160, 161 and 237. The rule defines Designated Director (for example the managing or whole-time director of a company, the managing partner, the proprietor or the managing trustee), Principal Officer, listed securities, Mutual Fund, recognised clearing corporation and Regulator.