https://www.taxtmi.com/forum/issue?id=111861 Section 285BA mandates that specified reporting persons who register or maintain records of financial transactions or reportable accounts must furnish statements to the income-tax authority in the prescribed form, period and manner. "Specified financial transaction" encompasses transactions in goods, property, services, works contracts, investments, expenditures and loans or deposits, subject to board-prescribed value thresholds. The authority may require rectification of defective statements, issue notices for non-filing, and treat unrectified statements as invalid; post-filing inaccuracies must be notified and corrected within the prescribed timeframe. en-us Tue, 02 May 2017 23:27:17 +0530 Thu, 23 Jan 2025 15:55:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111861 Section 285BA mandates that specified reporting persons who register or maintain records of financial transactions or reportable accounts must furnish statements to the income-tax authority in the prescribed form, period and manner. "Specified financial transaction" encompasses transactions in goods, property, services, works contracts, investments, expenditures and loans or deposits, subject to board-prescribed value thresholds. The authority may require rectification of defective statements, issue notices for non-filing, and treat unrectified statements as invalid; post-filing inaccuracies must be notified and corrected within the prescribed timeframe. Discussion-Forum Income Tax Tue, 02 May 2017 23:27:17 +0530 https://www.taxtmi.com/forum/issue?id=111861