TaxTMI 
TaxTMI 
TaxTMI 
Obligation to furnish statement of financial transaction or reportable account.
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....er 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 1908); or (f) the Director General as referred to in section 2(a) of the Post Office Act, 2023 (43 of 2023); or (g) the Collec....
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....s may be 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 authority or agency, as may be prescribed. (2) The statement referred to in sub-sect....
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....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 initial period of thirty days or extended period as applicable, then, the provisions of this Act shall apply ....
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....or agency referred to in sub-section (1), of the inaccuracy and furnish the correct information in such manner, as may be 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; (b) the nature of information and the manner in which such information shall be maintained by the person....