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RBI/2016-17/313
IDMD.CDD.No.3058/13.01.299/2016-17
May
30, 2017
The Chairman/ Managing Director
State Bank of India/Associate Banks/
17 Nationalised Banks/
Axis Bank Ltd., ICICI Bank Ltd.,
HDFC Bank Ltd., IDBI Bank Ltd./
Stock Holding Corporation of India Ltd.
Dear Sir/Madam
Submission of Annual Information
Return relating to issue of Bonds for ? 5 lakh or more under Section 285 BA
of Income Tax Act, 1961-Change thereof
A reference is invited to our circular IDMD.CDD.No.
3031/13.01.299/2016-17 dated May 25, 2017 on the captioned
subject.
2. It is observed that a few
Agency banks were submitting Annual Information Returns (AIR, now changed
to SFT) in respect of Savings Bonds to Income Tax Authorities as well as to
RBI. As RBI too, consolidates and submits this information to IT
Department, and in order to avoid the duplication of data relating to
Savings Bonds, Agency banks/SHCIL may henceforth ensure that the required
information is furnished only to Public Debt Offices of the respective
jurisdiction. They need not submit this information to Income Tax
Authorities separately.
3. Instructions issued vide the
circular ibid, stands modified to this effect.
Yours faithfully,
(Shyni Sunil)
Deputy General Manager
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