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        Income Tax

        Section 285BA - Obligation to furnish statement of financial transaction or reportable account

        Income-tax Act, 1961
        Chapter XXIII
        MISCELLANEOUS

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        Obligation to furnish statements of financial transactions requires specified persons to report reportable accounts to tax authorities within prescribed manner. Section 285BA mandates that defined persons who register or maintain records of specified financial transactions or reportable accounts must furnish statements containing information relevant to the Income-tax Act to the income-tax authority or other prescribed agency, in the form, manner and within the periods prescribed; rules may specify registrable persons, information maintenance and due diligence for identifying reportable accounts.
              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.

                  Obligation to furnish statements of financial transactions requires specified persons to report reportable accounts to tax authorities within prescribed manner.

                  Section 285BA mandates that defined persons who register or maintain records of specified financial transactions or reportable accounts must furnish statements containing information relevant to the Income-tax Act to the income-tax authority or other prescribed agency, in the form, manner and within the periods prescribed; rules may specify registrable persons, information maintenance and due diligence for identifying reportable accounts.


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