Substitution of new section for section 285BA- Obligation to furnish statement of financial transaction or reportable account

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..... of April, 2015, namely:- Obligation to furnish statement of financial transaction or reportable account 285BA. (1) Any person, being- (a) an assessee; or (b) the prescribed person in the case of an office of Government; or (c) a local authority or other public body or association; or (d) the Registrar or Sub-Registrar appointed under section 6 of the .....

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..... (j) a depository referred to in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996;[ 22 of 1996.] or (k) a prescribed reporting financial institution, who is responsible for registering, or, maintaining books of account or other document containing a record of any specified financial transaction or any reportable account as may be prescribed, under any law for .....

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..... n under a works contract; or (d) transaction by way of an investment made or an expenditure incurred; or (e) transaction for taking or accepting any loan or deposit, which may be prescribed: Provided that the Board may prescribe different values for different transactions in respect of different persons having regard to the nature of such transaction: Provid .....

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..... in any other provision of this Act, such statement shall be treated as an invalid statement and the provisions of this Act shall apply as if such person had failed to furnish the statement. (5) Where a person who is required to furnish a statement under sub-section (1) has not furnished the same within the specified time, the prescribed income-tax authority may serve upon such person a not .....

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..... to be registered with the prescribed income-tax authority; (b) the nature of information and the manner in which such information shall be maintained by the persons referred to in clause (a); and (c) the due diligence to be carried out by the persons for the purpose of identification of any reportable account referred to in sub-section (1). . - - statute, statutory provisions .....

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