TMI BlogInsertion of new sections 15A and 15B- Obligation to furnish information return- Penalty for failure to furnish information returnX X X X Extracts X X X X X X X X Extracts X X X X ..... to furnish information return 15A. (1) Any person, being (a) an assessee; or (b) a local authority or other public body or association; or (c) any authority of the State Government responsible for the collection of value added tax or sales tax; or (d) an income tax authority appointed under the provisions of the Income tax Act, 1961 (43 of 1961); or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 3 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (30 of 2013); or (k) the recognised stock exchange referred to in clause (f) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956); or (l) a depository referred to in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cribed authority considers that the information submitted in the information return is defective, he may intimate the defect to the person who has furnished such information return and give him an opportunity of rectifying the defect within a period of thirty days from the date of such intimation or within such further period which, on an application made in this behalf, the prescribed authority m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is required to furnish an information return under section 15A fails to do so within the period specified in the notice issued under sub-section (3) thereof, the prescribed authority may direct that such person shall pay, by way of penalty, a sum of one hundred rupees for each day of the period during which the failure to furnish such return continues. . - - statute, statutory provisions legi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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