TaxTMI 
TaxTMI 
Obligation to furnish statement of financial transaction or reportable account.
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.... (c) a local authority or other public body or association; or (d) the Registrar or Sub-Registrar appointed under section 6 of the Registration Act, 1908 (16 of 1908); or (e) the registering authority empowered to register motor vehicles under Chapter IV of the Motor Vehicles Act, 1988 (59 of 1988); or (f) the Director General as referred to in section 2(a) of the Pos....
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....ontaining a record of any specified financial transaction or any reportable account, as prescribed, under any law in force, shall furnish a statement regarding such specified financial transaction or such reportable account, which is registered or recorded or maintained by him and information relating to which is relevant and required for this Act, to the income-tax authority or such other authori....
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....me-tax authority finds a defect in the statement furnished under sub-section (1), he may intimate the defect to the person furnishing such statement, to rectify the defect within thirty days from the date of such intimation, and at his discretion, extend the said period upon an application made for this purpose. (6) If the defect mentioned in sub-section (5) remains unrectified within the initi....
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....tion provided, he shall within ten days, inform the prescribed income-tax authority or other authority or agency referred to in sub-section (1), of the inaccuracy and furnish the correct information in such manner, as prescribed. (9) The Central Government may, specify by rules,- (a) the persons referred to in sub-section (1) to be registered with the prescribed income-tax authority; ....