The Ministry of Finance in the new set of rules has asked the Banks and Post offices to give the details of money that is deposited in the account adding upto Rs 2.5 lakh or more per person from 1 April to 9 November. For all the current accounts, they have to give details of money that is deposited Rs 12.5 lakh or more per person.
They have also asked the the account holder to give their Permanent Account Number (PAN) or Form 60 by 28 February.
The finance ministry is making changes in the Rule 114 E of the Income Tax rules. Banks and post offices have to submit all the information by the 15 January.
Also Read:
Arun Jaitley to hold 'pre-budget meeting' with State Ministers
Jammu and Kashmir 'Budget session' to begin today
Mamata Banerjee demands all-party government without Narendra Modi