A transmitting/receiving apparatus comprising a transmitting apparatus for transmitting phase-modulated signals, and a receiving apparatus having a waveform shaping block for performing waveform shaping of said received signals, and a discriminator for discriminating "1" and "0" of a binary signal from a time length of a high level and a time length of a low level of a signal which is shaped in a rectangular wave, said transmitting/receiving apparatus, wherein at said discriminator, whether each of a time length of a high level and a time length of a low level of a waveform-shaped rectangular signal are a unit time T or integer times of the unit time T is measured, each bit of a high level and a low level is defined as a unit bit, and "1" or "0" of a binary signal is discriminated per bit and wherein in a group of signals, a parity bit is provided, this parity bit expresses whether a sort "1" of a binary signal of each bit of a high level in a rectangular wave signal is even or odd, or whether a sort "1" of a binary signal of each bit of a low level is even or odd.