Section 5 in Banking Cash Transaction Tax Rules, 2005
5. Furnishing of statement by a scheduled bank of number of taxable banking transactions entered into and banking cash transaction tax collected during a month.-
Every scheduled bank shall furnish a statement of taxable banking transactions in respect of which it is required to collect tax during a month, in Form No. 2 to the income tax authority specified in this behalf by the Board on or before the expiry of the month immediately following the said month on a computer media, in accordance with the following,-(a)the computer media conforms to the following specifications:-(i)CD ROM of 650 MB capacity or higher capacity; or(ii)4mm 2GB/ 4GB (90M/ 120M) DAT Cartridge; or(iii)Digital Video Disc;(b)if the data relating to the schedules is copied using data compression or backup software utility, the corresponding software utility or procedure for its decompression or restoration shall also be furnished;(c)the statement shall be accompanied by a certificate regarding clean and virus free data.
