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<h1>Finance Bill 2016 Clause 164: Assessees Must Submit Annual Statement of Services; Late or Revised Submissions Allowed Within 2 Years.</h1> Clause 164 of the Finance Bill, 2016, mandates that every assessee must prepare and deliver a statement to the Assessing Officer or authorized authority after each financial year, detailing all specified services. This statement must be in a prescribed form and verified manner. If an assessee fails to submit the statement on time or discovers errors, they may submit or revise it within two years from the end of the financial year. If the statement is not furnished on time, the Assessing Officer may issue a notice requiring submission in the prescribed form and manner within a specified timeframe.