Annual Information Return - File AIR through your nearest TIN facilitation centers

Annual Information Return (AIR) is to be filed for high value financial transactions under Section 285BA of the Income-tax Act, 1961 by specified individuals- with respect to the specified transactions registered or recorded by them during the financial year. The due date for the return filing is 31st August of the following year. Alankit Assignments Limited receives AIR through its network of TIN Facilitation Centers on behalf of CIT (CIB).

Process Charges

Along with supplementary details, the filing entity has to pay upload charges as stated below.

Number of Records Upload Fee
≤100 Rs.27.50 + service tax
101 - 1000 Rs.165.00 + service tax
≥1000 Rs.550.00 + service tax

Frequently Asked Questions About AIR

An AIR is required to be furnished by certain people for specific transactions registered or recorded by them during a particular financial year. Find below the class of persons who should file and the nature and value of financial transactions for which they should file.

S.No. Class of Persons Nature and Value of Transactions
1 A banking company 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). Cash deposits aggregating to ten lakh rupees or more in a year in any savings account of a person maintained in that bank.
2 A banking company 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) or any other company or institution issuing credit card. Payments made by any person against bills raised in respect of a credit card issued to that person, aggregating to two lakh rupees or more in the year.
3 A trustee of a Mutual Fund or such other person managing the affairs of the Mutual Fund as may be duly authorized by the trustee in this behalf. Receipt from any person of an amount of two lakh rupees or more for acquiring units of that Fund.
4 A company or institution issuing bonds or debentures. Receipt from any person of an amount of five lakh rupees or more for acquiring bonds or debentures issued by the company or institution.
5 A company issuing shares through a public or rights issue. Receipt from any person of an amount of one lakh rupees or more for acquiring shares issued by the company.
6 Registrar or Sub-Registrar appointed under section 6 of the Registration Act, 1908. Purchase or sale by any person of immovable property valued at thirty lakh rupees or more.
7 A person being an officer of the Reserve Bank of India, constituted under section 3 of the Reserve Bank of India Act, 1934, who is duly authorized by the Reserve Bank of India in this behalf. Receipt from any person of an amount or amounts aggregating to five lakh rupees or more in a year for bonds issued by the Reserve Bank of India.
An AIR is filed electronically through Form No.61A by all entities who are required to furnish the AIR. The AIR cannot be filed through a physical form and has to be filed online.
The due date for filing an AIR is 31st August of every financial year, whereby transactions are registered or recorded.
A penalty fee of Rs. 100 is charged for each day of the default to the individual, as per section 271FA of the Income Tax Act, 1961.
The Director General of Income Tax (Systems) has been appointed as the Annual Information Return – Administrator by CBDT.
NSDL e-Governance Infrastructure Limited (NSDL) has been entitled by the CBDT to receive AIRs. NSDL receives AIRs via its PAN India network of front offices or TIN Facilitation Centres (TIN-FCs) as well as via their online facility.

One can prepare AIR using the in-house facilities or can also connect with any other third party software or NSDL AIR Preparation Utility that can be freely downloaded from http://www.tin-nsdl.com/airdownloads.asp

AIR should be furnished via the Form 61A in digitized form on computer readable media (i.e. CD/floppy), supported by a duly signed verification and control chart in Form 61A (Part A) in paper format.

AIR should be furnished in digital form by all the categories of entities required to furnish AIR. Providing of AIR in the physical form (at the facilitation centers) is not allowed.

The Folio Number is the TAN of the particular organization. If the filer is a not a government entity, then the folio number to be quoted in the AIR will be the TAN of the entity’s principal office.
All the filers are needed to procure TAN and then mention the same in the ‘Folio No.’ column in both Part A & B of the Form no. 61A.
No, ideally the PAN can never be quoted in the TAN field where TAN is to be mentioned.
In case of the transactions that involve joint parties, a person shall
  • In case the share of all joint parties is stated clearly and known, then, one shall give the separate line item for every involved party in the joint transaction and also state the separate amount of transaction relating to that particular party; or
  • In case the shares of involved parties to the joint transaction are not defined, then one shall give the particulars (except the exact amount) of all joint parties as separate line items and also state the amount of transaction against the first named party only.
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