Breaking News

Details for Annual Information Return From 01-01-2016

CAknowledge

Annual Information Return From 01-01-2016, Check Everything you want to know about Annual Information Return applicable From 01-01-2016. In this article you can find complete details for Annual Information Return From 01-01-2016 like – Nature of All transactions and Value of all transactions and details for reporting person. Now you can scroll down below n check more details for “Annual Information Return”.

Details for Annual Information Return From 01-01-2016

Annual Information Return

S.No Nature and value of transaction Class of person (reporting person)
1. (a) Payment made in cash for purchase of bank drafts or pay orders or banker’s cheque of an amount aggregating to ten lakh rupees or more in a financial year.

(b) Payments made in cash aggregating to ten lakh rupees or more during the financial year for purchase of pre-paid instruments issued by Reserve Bank of India under section 18 of the Payment and Settlement Systems Act, 2007 (51 of 2007).

(c) Cash deposits or cash withdrawals (including through bearer’s cheque) aggregating to fifty lakh rupees or more in a financial year, in or from one or more current account of a person.

A banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act).
2. Cash deposits aggregating to ten lakh rupees or more in a financial year, in one or more accounts (other than a current account and time deposit) of a person. (i) A banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act);

(ii) Post Master General as referred to in clause (j) of section 2 of the Indian Post Office Act, 1898 (6 of 1898)

3. One or more time deposits (other than a time deposit made through renewal of another time deposit) of a person aggregating to ten lakh rupees or more in a financial year of a person. (i) A banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act);

(ii) Post Master General as referred to in clause (j) of section 2 of the Indian Post Office Act, 1898 (6 of 1898);

(iii) Nidhi referred to in section 406 of the Companies Act, 2013 (18 of 2013); (iv) Non-banking financial company which holds a certificate of registration under section 45-IA of the Reserve Bank of India Act, 1934 (6 of 1934), to hold or accept deposit from public.

4. Payments made by any person of an amount aggregating to-

(i) one lakh rupees or more in cash; or

(ii) ten lakh rupees or more by any other mode,

against bills raised in respect of one or more credit cards issued to that person, in a financial year.

A banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act) or any other company or institution issuing credit card
5. Receipt from any person of an amount aggregating to ten lakh rupees or more in a financial year for acquiring bonds or debentures issued by the company or institution (other than the amount received on account of renewal of the bond or debenture issued by that company) A company or institution issuing bonds or debentures
6. Receipt from any person of an amount aggregating to ten lakh rupees or more in a financial year for acquiring shares (including share application money) issued by the company. A company issuing shares.
7. Buy back of shares from any person (other than the shares bought in the open market) for an amount or value aggregating to ten lakh rupees or more in a financial year A company listed on a recognised stock
exchange purchasing its own securities
under section 68 of the Companies Act,
2013 (18 of 2013).
8. Receipt from any person of an amount aggregating
to ten lakh rupees or more in a financial year for
acquiring units of one or more schemes of a Mutual
Fund (other than the amount received on account of
transfer from one scheme to another scheme of that
Mutual Fund).
A trustee of a Mutual Fund or such other
person managing the affairs of the Mutual
Fund as may be duly authorised by the
trustee in this behalf.
9. Receipt from any person for sale of foreign currency
including any credit of such currency to foreign
exchange card or expense in such currency through a
debit or credit card or through issue of travellers
cheque or draft or any other instrument of an
amount aggregating to ten lakh rupees or more
during a financial year.
Authorised person as referred to in clause
(c) of section 2 of the Foreign Exchange
Management Act, 1999 (42 of 1999).
10 Purchase or sale by any person of immovable
property for an amount of thirty lakh rupees or
more or valued by the stamp valuation authority
referred to in section 50Cof the Act at thirty lakh
rupees or more.
Inspector-General appointed under
section 3 of the Registration Act, 1908 or
Registrar or Sub-Registrar appointed
under section 6 of that Act.
11 Receipt of cash payment exceeding two lakh
rupees for sale, by any person, of goods or services
of any nature (other than those specified at Sl. No. 1
to 10 of this rule, if any.
Any person who is liable for audit under
section 44AB of the Act.
Ask Your Query

About Raju Choudhary

Article by Raju Choudhary Raju has written 537 articles. If you like This post, you can follow CAknowledge on Twitter. Subscribe to CAknowledge feed via RSS or EMAIL to receive instant updates.

Leave a Reply

Your email address will not be published. Required fields are marked *