Submission of statement by a non-resident having liaison office [ Section 285 & Section 271GC ]

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..... ce with the guidelines issued by the Reserve Bank of India under the Foreign Exchange Management Act, 1999, shall, in respect of its activities in a financial year, prepare and deliver or cause to be delivered to the Assessing Officer having jurisdiction, "sixty days from the end of such financial year, a statement" "such period, a statement"[subsititued by Finance (No. 2) Act, .....

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..... shall specify the procedure for filing of annual statement [ Form 49C ] and shall also be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to statements so furnished. Penalty for failure to submit statement under section 285 [ Section 271GC ] [ Inserted vide Finance (No. 2) Act, 2024 w.e.f. 01.04.2025 ] If any person who is required .....

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