24 January 2012
AIR is the return whihc bank submits at the end of the year, which lists high value transaction (more than Rs. 50K)by any cusotmer of bank.
Pls note that not only the banks are bound to submit the report on high value transaction but also the Mutual Fund, Company issuing Bonds, Shares, Debentures and the registrar.
The value of reportable transaction is not 50K but different in different cases.
Pls note that not only the banks are bound to submit the report on high value transaction but also the Mutual Fund, Company issuing Bonds, Shares, Debentures and the registrar.
The value of reportable transaction is not 50K but different in different cases.
CAclubindia
