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Banking Regulation Act, 1949 · Section guide

Section 31: Submission of returns

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 31 — Submission of returns. Requires publication in the prescribed manner and three copies of section 29 accounts/balance sheet plus auditor report to. RBI within three months after the relevant period; RBI may extend once by up to a further three months; RRBs also furnish to NABARD.

Official statute linkedProvision-specific anatomyPractical case + evidence file
Official text: DFS consolidated Act

Statutory structure and provision map

This map is a provision-specific explanation, not a substitute for the exact statutory text.

Core statutory rule

Requires publication in the prescribed manner and three copies of section 29 accounts/balance sheet plus auditor report to RBI within three months after the relevant period.

Condition / limitation

RBI may extend once by up to a further three months.

Timing / amount / process

Condition / limitationRRBs also furnish to NABARD.

Professional application

Retain the correct three-copy / three-month / extension anchors; add publication method, RRB routing and source-linked filing workflow.

Working flow

Identify the bank/entity class, event date and the factual trigger for Submission of returns.
Apply the core Section 31 rule: Requires publication in the prescribed manner and three copies of section 29 accounts/balance sheet plus auditor report to RBI within three months after the relevant period.
Test the next condition or limitation: RBI may extend once by up to a further three months.
Reconcile any amount, period, approval, filing or return mentioned in Section 31 with the supporting record.
Record the conclusion, official source used, effective date and evidence that proves the statutory condition was met or not met.

Evidence / working-paper checklist

  • Section 31 evidence: general-ledger / treasury reconciliation.
  • Section 31 evidence: return or financial statement submitted to RBI/Registrar.
  • Section 31 evidence: auditor sign-off or working papers where relevant.
  • Section 31 evidence: filing acknowledgement and calculation of the statutory reference date.

Retain the event date and source version with the file so the conclusion remains reproducible after later amendments.

Common mistakes to avoid

  • For Section 31, avoid using a legacy Friday/fortnight reference after the statutory date changed.
  • For Section 31, avoid submitting a return without a ledger reconciliation.
  • For Section 31, avoid assuming an extension exists without a written statutory/RBI basis.

Linked Rules, RBI directions, notifications and forms

Linked instruments keep their own legal basis; they are not attributed to Section 31 unless the official instrument says so.

Related sections inside the Act

Section 29A — Power in respect of associate enterprisesSection 30 — AuditSection 32 — Copies of balance-sheets and accounts to be sent to registrarSection 33 — Display of audited balance-sheet by companies incorporated outside IndiaSection 29 — contextual cross-reference

Use these links to read Section 31 in its statutory sequence, especially where the provision imports definitions, approvals, appeals, penalties or winding-up consequences from neighbouring sections.

Current-law source control

Source control: Section 31 is anchored to the official DFS consolidated text; later changes require separate Gazette verification.

Dated matters: verify any later Gazette, RBI direction or binding judgment affecting Section 31 on the event date.

Disclaimer

This Finin2min page is an educational and professional reference. Banking regulation is fact-, entity- and date-sensitive. Verify the current Act, Gazette amendments and commencement notifications, applicable RBI Rules/directions and the transaction record before acting or filing.