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STATEMENT OF FINANCIAL TRANSACTION OR REPORTABLE ACCOUNT (SFTRA) - SECTION 285BA

Income Tax - Tax Liability in special Circumstances / Specific Cases - 23 - STATEMENT OF FINANCIAL TRANSACTION OR REPORTABLE ACCOUNT (SFTRA) FINANCE ACT, 2014 OBLIGATION TO FURNISH STATEMENT OF FINANCIAL TRANSACTION OR REPORTABLE ACCOUNT (SFTRA) (SUB .....

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ration Act, 1908; or The registering authority empowered to register motor vehicles under the Motor Vehicles Act, 1988; or The post Master; or The collector referred to in the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilit .....

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tering, 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 the time being in force, shall furnish a statement in respect of su .....

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ority or agency as may be prescribed. 2. The statement referred to in sub-section (1) shall be furnished for such period, within such time and in the form and manner, as may be prescribed. 3. For the purposes of sub-section (1), specified financial t .....

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n expenditure incurred; or 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 .....

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that the statement furnished under sub-section (1) is defective, he may intimate the defect to the person who has furnished such statement and give him an opportunity of rectifying the defect within a period of thirty days from the date of such inti .....

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r period so allowed, then, notwithstanding anything contained 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 .....

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hin a period not exceeding thirty days from the date of service of such notice and he shall furnish the statement within the time specified in the notice. 6. If any person, having furnished a statement under sub-section (1), or in pursuance of a noti .....

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