section 70, for 'annual information return' (w.e.f. 1-4-2015).] under sub-section (1) of section 285BA, fails to furnish such [statement] [Substituted ... section 70, 'return' (w.e.f. 1-4-2015).] within the period specified in the notice issued under sub-section (5) of section 285BA
Section 285BA in The Income Tax Act, 1961
285BA. [ Obligation to furnish statement of financial transaction or reportable account. [Substituted by Finance ... body or association; or (d) the Registrar or Sub-Registrar appointed under section 6 of the Registration Act, 1908; or (e) the registering authority empowered
Section 76 in Finance (No. 2) Act, 2014
76. Substitution of new section for section 285BA.
- For section 285BA of the Income ... following section shall be substituted with effect from the 1st day of April, 2015, namely:- '285BA. Obligation to furnish statement of financial transaction or reportable
section 71, (w.e.f. 1-4-2015).]
- If a person referred to in clause (k) of sub-section (1) of section 285BA ... comply with the due diligence requirement prescribed under sub-section (7) of section 285BA or is deliberate on the part of that person
Section 103 in Finance Act, 2020
103. Insertion of new section 285BB.
- After section 285BA of the Income-tax Act, the following section shall
Section 71 in Finance (No. 2) Act, 2014
71. Insertion of new section 271FAA.
- After section 271FA of the Income-tax Act, the following section ... person referred to in clause (k) of sub-section (1) of section 285BA, who is required to furnish a statement under that section, provides inaccurate
purpose of sub-section (2) of section 21, the income-tax authority referred to in sub-section (1) of the section 285BA of Income ... such other authority or agency which is prescribed under sub-section (1) of section 285BA shall electronically transmit a copy of statement received
statement of financial transaction required to be furnished under sub-section (1) of section 285BA of the Act shall be furnished in respect ... regulator and ensure compliance with the obligations imposed under section 285BA of the Act and rules 114B to 114D and this rule. Explanation 1. - "Designated
account required to be furnished under clause (k) of sub section (1) of section 285BA shall be furnished by a reporting financial institution in respect ... financial institution to ensure overall compliance with the obligations imposed under section 285BA and the rules made thereunder and includes- (i) the Managing Director
having furnished a statement under sub-section (1), or in pursuance of a notice issued under sub-section (7), becomes aware of any inaccuracy ... identification of any reportable account referred to in sub-section (1). [ Similar to Section 285BA from The Income Tax Act, 1961 - Also Refer
