RBI/2007-08/324
Ref: DGBA.CDD No H - 11933 / 13.01.299 / 2007-08

May 16, 2008
Vaishakha 26, 1930 (S)

The Chairman/Managing Director
State Bank of India/Associate Banks/
17 Nationalised Banks / AXIS Bank / ICICI Bank Ltd /
HDFC Bank Ltd / IDBI Bank /
Stock Holding Corporation of India Ltd

Dear Sir,

Filing of Annual information Returns (AIR) – Duplication of Data

Please refer to our Circular letter DGBA.CDD.No.H.4936/13.01.299/2007-08 dated October 31, 2007 advising you to quote PAN in all cases where the transacting party has a PAN.

2. As you are aware, your bank is required to consolidate and furnish to Public Debt Office of jurisdiction the information in Form 61A (in soft copy) in respect of investors of Savings Bonds whose investment is Rs. 5 lakh and more in a financial year. In this connection, it has been brought to our notice that some of the Agency Banks, apart from submitting the required information to PDO of jurisdiction in form 61A, have also included the same in the Annual Information Return (AIR) filed by them directly  to the Director General of Income Tax (Systems).  This has resulted in duplication of investments data with Income Tax Department and consequential queries from them for confirmation of such investments made by the investors of Savings Bonds.

3. In view of the above, we advise you to ensure that the required information is furnished to Public Debt Office of jurisdiction well before the stipulated time and care should be taken that there is no duplication of data filed with Income Tax Department.

Yours faithfully,

(S. M. Mane)
Manager