Insertion of new sections 15A and 15B- Obligation to furnish information return- Penalty for failure to furnish information return

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....:- Obligation to furnish information return      "15A. (1) Any person, being-      (a) an assessee; or      (b) a local authority or other public body or association; or      (c) any authority of the State Government responsible for the collection of value added tax or sales tax; or    ....

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....r      (i) the registering authority empowered to register motor vehicles under Chapter IV of the Motor Vehicles Act, 1988 (59 of 1988); or      (j) the Collector referred to in clause (c) of section 3 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (30 of 2013); or    ....

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....r exchange of goods or property or right or interest in a property, under any law for the time being in force, shall furnish an information return of the same in respect of such periods, within such time, form (including electronic form) and manner, to such authority or agency as may be prescribed.      (2) Where the prescribed authority considers that the information submit....

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....ecified in sub-section (1) or sub-section (2), the prescribed authority may serve upon him a notice requiring furnishing of such information return within a period not exceeding ninety days from the date of service of the notice and such person shall furnish the information return. Penalty for failure to furnish information return      15B. If a person who is required to ....