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Maintenance of records of transactions (nature and value).

Rule 3 - Rules - Other Direct Tax Provisions - Rule 3 - 3 .1[Every reporting entity shall maintain the record of all transactions including, the record of- (A) all cash transactions of the value of more than ten lakh rupees or its equivalent in foreign currency; (B) all series of cash transactions integrally connected to each other which have been individually valued below rupees ten lakh or its equivalent in foreign currency where such series of transactions have taken place within a month and .....

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er or not made in cash and by way of: (i) deposits and credits, withdrawals into or from any accounts in whatsoever name they are referred to in any currency maintained by way of: (a) cheques including third party cheques, pay orders, demand drafts, cashiers cheques or any other instrument of payment of money including electronic receipts or credits and electronic payments or debits, or (b) travellers cheques, or (c) transfer from one account within the same banking company, financial institutio .....

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or abroad including transactions on its own account in any currency by any of the following:- (a) payment orders, or (b) cashiers cheques, or (c) demand drafts, or (d) telegraphic or wire transfers or electronic remittances or transfers, or (e) internet transfers, or (f) Automated Clearing House remittances, or (g) lock box driven transfers or remittances, or (h) remittances for credit or loading to electronic cards, or (i) any other mode of money transfer by whatsoever name it is called; (iv) .....

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t rate and commodity and any other derivative instrument in whatsoever name it is called, or (d) letters of credit, standby letters of credit, guarantees, comfort letters, solvency certificates and any other instrument for settlement and/or credit support; services in any currency by way of collection of bills, cheques, instruments or any other mode of collection in whatsoever name it is referred to. 4[(E) all cross border wire transfers of the value of more than five lakh rupees or its equivale .....

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