Procedure for registration and submission of statement under section 285BA

DGIT(S)-ADG(S)-2/e-filing notification/106/2016

Government of India

Ministry of Finance

Central Board of Direct Taxes

Directorate of Income Tax (Systems)

Notification No 4/2016

New Delhi,6 April, 2016

Procedure for registration and submission of statement as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with Sub rule (7) of Rule 114G of Income-tax Rules, 1962

As per Sub rule (10)(a) of Rule 114G of the Income Tax Rules, 1962 (hereunder referred as the Rules),Every reporting financial institution shall communicate to the Principal Director General of Income-tax(Syatems) the name, designation and communication Details of the Designated Director and the Principal Officer. As per Sub rule (9)(a) of Rule 114G, the statement referred to in sub-rule (7) of Rule 114G shall be furnished Through online transmission of electronic data to a server designated 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) 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:

1. 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 the register reporting financial institution has been provided under “My Account>Manage ITDREIN”. The reporting financial institution is required to apply for different ITDREIN for different reporting entity categories. Once ITDREIN is generated, the reporting entity will receive a confirmation e-mail on the registered e-mail ID and SMS at registered mobile number. There will be no option to de-activate ITDREIN, once ITDREIN is created.
2. Submission of details of reporting entity: After generation of ITDREIN, the reporting financial institution will be required to submit details of the reporting entity on the screen. Once registered, the reporting entity will have an option to edit the details.
3. Registration of designated director and principal officer: After submission of reporting enter details, the reporting financial institution will be required to submit the details of designated director and’ principal officer. The designated director and principal officer will receive a confirmation e-mail with an activation link_ An SMS along with OTP (One time Password) will also be sent to the registered Mobile Number. For completion of registration, the designated director and principal officer should click on the Activation link, enter the Mobile PIN(OTP), Password and Confirm Password and click on Activate Button. On success, the registration will be complete.
4. Submission of Form 61B: Every reporting financial institution is required to submit the Statement of Reportable Account in Form 61 B or submit Nil statement. The prescribed schema for Form 6Th and a utility to prepare XML file can be downloaded torn the e-firing website home page under forms (other than ITR) tab. The designated director is required to login to the e-filing website with the ITDREIN, PAN (of the designated director) and password The form is required to be submitted using a Digital Signature Certificate of the designated director.
5. Submission of Nil statement: In case nil statement is to be submitted, the option to submit Nil statement is required to b selected_ The designated director will then be required to submit a declaration with respect to pre-existing accounts (As defined in Rule 11411(2)(h) of Income Tax Rules, 1962) and new accounts (As defined in Rule 1141-1(2)(d) of Income Tax Rules, 1962). The declaration is required to be submitted using a Digital Signature Certificate.
6. Existing registered entities: The reporting financial institutions that are Are.ady registered as an reporting entity for Form 61 B 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 wilt be sent to The designated director for the activation of its access_ Once activated, tt wilt 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 25th August, 2015 and Notification No 4 dated 4^th September, 2015 stands withdrawn forthwith.

Sd/-

(Gopal Mukherjee)

Pr. DGIT (Systems), CEDT

Copy to:-”

1. PPS to the Chairman and Members, CBDT, North Block, New Delhi
2. All Chief Commissioners” Director General of Income Tax with a request to circulate amongst all officers in their regions/ Charges.
3. JS(TPL)-1 &II/ Media co-ordination and Official spokesperson of GBDT
4. DIT (IT)/ DIT (Audit)/ DIT (Vig)/ ADG (System) 1, 2, 3, 4, 5 / DIT (CPC) Bangalore, DIT (CPC-TDS) Gaziabad
5. ADG (PR, PP&OL) with a request for advertisement campaign for the Notification
6. TPL and ITA Divisions of CBDT
7. The institute of Chartered Accountants of Indian: IP Estate, New Delhi.
8. Web Manager, “incometaxindia.gov.in” for hosting on the website.
9. Database cell for uploading on www.irsofficersonline.gov.in and in DGIF (S) Corner
10. ITBA publisher for uploading on ITBA portal.

Sd/-

( Sanjeev Singh )

ADG(Systems)-2 CBDT

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