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1[114BB. Transactions for the purposes of sub-section (6A) of section 139A and prescribed person for the purposes of clause (ab) of Explanation to section 139A.–– (1) Every person shall, at the time of entering into a transaction specified in column (2) of the Table below, quote his permanent account number or Aadhaar number, as the case may be, in documents pertaining to such transaction, and every person specified in column (3) of the said Table, who receives such document, shall ensure that the said number has been duly quoted and authenticated— TABLE
Sl. No. | Nature of transaction | Person |
(1) | (2) | (3) |
1. | Cash deposit or deposits aggregating to twenty lakh rupees or more in a financial year, in one or more account of a person with, — | |
| 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 Office | 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). |
2. | Cash withdrawal or withdrawals aggregating to twenty lakh rupees or more in a financial year, in one or more account of a person with, — | |
| 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 Office | 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. | Opening of a current account or cash credit | |
| account by a person with, — 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 Office | 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). |
2[Provided that the provisions of this sub-rule shall not apply in a case where the person, depositing the money as per Sl. No. 1 of column (2) or withdrawing money as per Sl. No. 2 of column (2) or opening a current account or cash credit account as per Sl. No. 3 of column (2) of the Table above, is the Central Government, the State Government or the Consular Office.]
- The permanent account number or Aadhaar number alongwith demographic information or biometric information of an individual shall be submitted to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) or the person authorised by the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) with the approval of the Board, for the purposes of authentication referred to in section 139A.
- Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) shall lay down the formats and standards along with procedure for authentication of permanent account number or Aadhaar number.]
Notes: 1. Rule 114BB Inserted by the the Income–tax (Fifteenth Amendment) Rules, 2022 Notification No. 53/2022 dated 10.05.2022. 2. Inserted by the Income-tax (29thAmendment) Rules, 2022, Notification No. 105/2022 dated 01.09.2022.
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