Income Tax to share information with Scheduled Commercial Banks
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 71/ 2020
New Delhi, the 31st August, 2020
S.O. 2947(E).—In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of Section 138 of the Income-tax Act, 1961, the Central Government hereby specifies “Scheduled Commercial Banks” listed in the Second Schedule of the Reserve Bank of India Act, 1934 for the purposes of the said clause.
[/F. No. 225/136/2020-ITA.II]
RAJARAJESWARI R., Under Secy
Download Notification Click Here >>
- Compensation to borrower upheld as bank did not verify construction progress before loan disbursals to builder
- No timeline mentioned in PMLA to forward arrest order & material in possession to Adjudicating Authority
- Release of seized assets if mandatory on completion of 120 days? Question referred to Larger Bench
- EPFO Extends date of filing of new ECR for the wage month September to 31/10/2026
- Earlier acceptance is relevant evidence in evaluating subsequent allegation of fictitious investment



