Information return obligation: designated persons must file prescribed transactional and tax records or face statutory compliance measures. Specified categories of persons and authorities must furnish information returns containing records of registration, accounts, periodic returns, tax payments and transactional details relating to goods, services, bank accounts, electricity consumption and property dealings, in the prescribed form, manner, periods and to the prescribed authority. The Commissioner or an authorised officer may require rectification of defective returns within thirty days or a further allowed period, failing which the return is treated as not furnished and the Act's provisions apply; a notice may be served requiring submission within a period not exceeding ninety days.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Information return obligation: designated persons must file prescribed transactional and tax records or face statutory compliance measures.
Specified categories of persons and authorities must furnish information returns containing records of registration, accounts, periodic returns, tax payments and transactional details relating to goods, services, bank accounts, electricity consumption and property dealings, in the prescribed form, manner, periods and to the prescribed authority. The Commissioner or an authorised officer may require rectification of defective returns within thirty days or a further allowed period, failing which the return is treated as not furnished and the Act's provisions apply; a notice may be served requiring submission within a period not exceeding ninety days.
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