TMI BlogSubstitution of new section for section 285BAX X X X Extracts X X X X X X X X Extracts X X X X ..... .-(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 Registration Act, 1908 (16 of 1908); or (e) the registering authority empowered to register motor vehicles under Chapter IV of the Motor Vehicles Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny law for the time being in force, shall furnish an annual information return, in respect of such specified financial transaction which is registered or recorded by him during any financial year beginning on or after the 1st day of April, 2004 and information relating to which is relevant and required for the purposes of this Act, to the prescribed income-tax authority or such other authority or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y prescribe different values for different transactions in respect of different persons having regard to the nature of such transactions: Provided further that the value or, as the case may be, the aggregate value of such transactions during a financial year so prescribed shall not be less than fifty thousand rupees. (4) Where the prescribed income-tax authority considers that the annual informa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an annual information return under sub-section (1) has not furnished the same within the prescribed time, the prescribed income-tax authority may serve upon such person a notice requiring him to furnish such return within a period not exceeding sixty days from the date of service of such notice and he shall furnish the annual information return within the time specified in the notice.'. - - st ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
