Filing obligations for credit institutions updated-principal officers must furnish chargeable interest returns and comply with advance notice requirements. Amendment requires the principal officer or, for non-resident institutions, the treated agent to furnish a prescribed, verified return of chargeable interest for the previous year by the specified assessment-year deadline; the Assessing Officer may serve an earlier notice requiring return within the notice period. It replaces the prior timing rule with a fixed outer limit: before the expiry of one year from the end of the relevant assessment year or before completion of the assessment, whichever is earlier.
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Provisions expressly mentioned in the judgment/order text.
Filing obligations for credit institutions updated-principal officers must furnish chargeable interest returns and comply with advance notice requirements.
Amendment requires the principal officer or, for non-resident institutions, the treated agent to furnish a prescribed, verified return of chargeable interest for the previous year by the specified assessment-year deadline; the Assessing Officer may serve an earlier notice requiring return within the notice period. It replaces the prior timing rule with a fixed outer limit: before the expiry of one year from the end of the relevant assessment year or before completion of the assessment, whichever is earlier.
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