Circular No. 14 /2016
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 18th May, 2016
Subject: Digital reporting of Form No.60-reg.
1. Vide Notification No.95, dated 30th December, 2015, rules 114B, 114C and 114D of the Income-tax Rules, 1962 ( the Rules) were amended and have come into force from the 1st day of January, 2016.
2. The amended rules inter-alia provide for furnishing of a statement in Form No.61, containing particulars of declaration made in Form No.60, through online transmission of data electronically. The statement in Form No.61 is to be provided by every person referred to in clause (b) to (k) of sub-rule (1) of rule 114C and in subrule (2) of Rule 114C, and who is required to get his accounts audited under section 44AB of the Income-tax Act, 1961. Sub-rule (2) of rule 114D mandates that online statement in Form No.61 should be furnished by:
a) 31st October of that year, where the declarations are received by the 30th September; and
b) 30th April of the financial year immediately following the financial year in which the form is received, where the declarations are received by the 31st March.
3. It has been brought to the notice of the Central Board of Direct Taxes (the Board) by various stakeholders that hardship is being faced in complying with online submission of statement in Form No.61, containing particulars of declaration made in Form No.60.
4. In view of the above, it is decided that filling of all the fields in Form No.60 shall be considered to be mandatory in respect of transactions entered on or after 1.04.2016. It is also decided that online reporting of declarations in Form No. 61 for quarter ending March, 2016 may be done along with report for quarter ending September, 2016.
5. The above may be brought to the notice of all concerned.
(Dr. T. S. Mapwal)
DCIT, OSD (TPL-IV)
CBDT, New Delhi.
1. The Chairman, Members and officers of the CBDT of the rank of Under Secretary and above.
2. OSD to Revenue Secretary.
3. All Pr. Chief Commissioners of Income-tax & All Directors General of Income-Tax with a request to bring to attention of all officers.
4. The Pr. Director General of Income-Tax, NADT, Nagpur.
5. The Pr. DGIT (Systems), ARA Centre, Jhandewalan extension, New Delhi.
6. The ADG (PR, PP & OL), Mayur Bhawan, New Delhi for printing in the quarterly tax bulletin and for circulation as per usual mailing list.
7. The Comptroller and Auditor General of India.
8. The ADG-4 (Systems) for uploading on ITD website.
9. Data Base Cell for uploading on irsofficersonline.
10. Guard file. (Dr. T. S. Mapwal) DCIT, OSD (TPL-IV) CBDT, New Delhi.