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Mumbai, May 8

The Reserve Bank of India has asked banks to submit the annual information returns by August 31, 2005.The central bank said that the Commissioner of Income Tax (Systems) had informed that annual information returns for the financial year 2004/2005 were filed late by the banks. The RBI said a scrutiny of the transaction date in the AIRs submitted by the banks had several errors.Some of the errors include entering incomplete names of transaction parties, incorrect district and state cods, incorrect transaction codes.

More Stories on : RBI & Other Central Banks | Income Tax

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