Information-return obligation requires prescribed reporting of transaction and tax records, with rectification rules and notice-for-filing procedures.

A wide range of persons responsible for maintaining records or periodic returns must furnish an information return in prescribed form, manner and to the prescribed authority containing details of registrations, accounts, tax payments and transactions. The Commissioner may require rectification of defective returns within thirty days or an allowed extension; failure to rectify causes the return to be treated as not furnished and the Act's provisions to apply. Where returns are not furnished in time, a notice may be served requiring filing within a period not exceeding ninety days from service.

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