Procedure for registration and submission of Form V for Reporting under Pradhan Mantri Garib Kalyan Deposit Scheme 2016: DGIT(S)-ADG(S)-2/e-filing   notification/106/2016

CBDT Notification No. 14 of 2016 New Delhi, 30th December, 2016

Procedure  for  Registration  and  Submission  of  Form V  for  Reporting under  Pradhan Mantri Garib Kalyan Deposit Scheme (PMGK), 2016

In exercise of the powers conferred by Subsection (c) of Section 199B of the Finance Act, 2016 (28 of 2016),the Central Government in consultation with the Reserve Bank of India notified the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGK), 2016.

As per para 7(2) of the PMGK deposit Scheme, 2016, the Authorised banks are required to furnish electronically the details of deposits made under PMGK in Form V not later than next working day to enable the Department to verify the information of the deposit before accepting the declaration.

The following procedure shall be followed by the Authorised banks for furnishing the PMGK deposit details.

a) Registration and generation of Income Tax Department Registered Entity Identification Number (ITDREIN): The Authorised bank is required to get registered with the Income Tax Department by logging in to the e-filing website (http://incometaxindiaefiling.gov.in/) with the log in ID (PAN). A link to register Authorised bank has been provided under “My Account»Manage ITDREIN”. Once ITDREIN is generated , the Authorised bank  will  receive  a  confirmation  e-mail  on the registered e-mail ID and SMS at registered mobile There will be no option to de-activate ITDREIN, once ITDREIN is created.

b) Registration of designated director and principal officer: After generating ITDREIN, the Authorised bank will be required to submit the details of designated director and principal officer. The designated director and principal officer will receive a confirmation e-mail with an activation link. An SMS along with OTP (One time Password) will also be sent to the registered Mobile Number. For completion of registration, the designated director and principal officer should click on the Activation link, enter the Mobile PIN(OTP), Password and Confirm Password and click on Activate On success, the registration will be complete.

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c) Preparation of Form V (PMGK Deposit Scheme) data file:Every Authorised bank is required to submit the PMGK deposit details in Form V. The prescribed schema for Form V and a utility to prepare XML file can be downloaded from the e— filing portal home page under Forms (other than ITR) tab. The liter can also refer to the User Manual for ITDREIN Registration and Upload of Form V.

d) Submission of Form V (PMGK Deposit Scheme):The designated director is required to login to the e-filing portal with the ITDREIN, PAN (of the designated director) and password. The form is required to be submitted using a Digital Signature Certificate of the designated.

Sd/-

(S.S. Rathore)

Pr. DGIT (Systems), CBDT


Source: https://irsofficersonline.gov.in/Documents/OfficalCommunique/11231201622853.PDF