Accordingly to section 285BA and Rule 114E, some assessee are responsible for submitting Annual Information Return (AIR). An assessee or a Government agency or other authority registering or maintaining a record of or who enter into any Financial Transaction with any other person, shall furnish an annual information return of such transactions entered into during a previous year in form 61A including on computer media like as CD ROM or DVD alongwith Part-A, thereof on paper, by 31the August next following.
The return shall be furnished to the Director of Income-tax (Central Information Branch) or a person authorised by NSDL (National Securities Depository Limited).
The 'specified financial transactions', their value and persons responsible for furnishing Annual Information Return are given as under:-
| Sr. No. | Nature and Value of Transactions | Persons responsible for furnishing A.I.R. |
| 1. | Cash deposit of Rs. 10 Lac or more in a year in a Saving Account | Bank |
| 2. | Payment by credit card holder of Rs. 2 Lac or more in a year. | Bank/Company/Institution issuing credit card. |
| 3. | Receipt from any person of Rs. 2 Lac or more for acquiring units of a mutual fund. | Trustee/Authorised person of Mutual Fund. |
| 4. | Receipt from any person of Rs. 5 Lac or more for acquiring bonds/debentures. | Company/Institution issuing bonds/debentures. |
| 5. | Receipt from any person of Rs. 1 Lac or more for acquiring shares. | Company issuing shares through pubic/right issue. |
| 6. | Purchase/Sale of immovable property of Rs. 30 Lac or more. | Registrar/Sub-registrar. |
| 7. | Receipt from any person of Rs. 5 Lac or more in a year for acquiring R.B.I. Bonds. | Authorised person of R.B.I. |