Power to call for information : Section 133

Power to call for information enables tax authorities to compel third party and transactional disclosures to support tax inquiries.

The provision empowers specified income-tax authorities to require firms, Hindu undivided families, trustees, agents and assessees to furnish returns or statements identifying partners, managers, members, beneficiaries and recipients of payments, and enables demands on dealers, brokers, exchanges and banks for purchaser/seller lists and account information relevant to tax inquiries. Certain information powers may be exercised by senior officers or designated central authorities, while lower-ranking officers need prior approval before conducting inquiries where no proceeding is pending; notified authorities may exercise full inquiry powers for treaty-related matters.