Self-reporting of tax bases requires furnishing verified returns and permits revision before completion of assessment proceedings.

Every person with specified tax bases must furnish a return of tax bases by the due date, covering their own tax bases or those of any person for whom they are assessable; the return must be verified in the prescribed form and furnished to the Income tax Department or other prescribed authority and may require disclosures of exempt income, prescribed assets, bank accounts and credit cards, significant expenditures and other prescribed outgoings.

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