Obligation to furnish information return requires specified entities to submit prescribed transaction data with rectification and notice mechanisms. Section 150 mandates that specified persons and authorities who maintain records or transactional documents must furnish an information return in the prescribed time, form, manner and to the prescribed authority. The Commissioner or an authorised officer may notify defects and permit rectification within thirty days or an extended period; failure to rectify results in the return being treated as not furnished. If a required return is not filed within the prescribed time, the authority may serve a notice requiring filing within a period not exceeding ninety days from service.