Return filing requirement: banks must submit prescribed verified returns for taxable transactions, with notice and revision mechanisms. Scheduled banks must, within the prescribed time after each financial year, deliver to the Assessing Officer or an authorised agency a verified return in the prescribed form setting forth particulars of all taxable banking transactions. Failure to file permits the Assessing Officer to issue a notice requiring filing within a further prescribed time. A bank may furnish or revise a return at any time before assessment if it has not filed in time or discovers omissions or wrong statements in a previously submitted return.