Section 70 - Amendment of section 271FA - Finance (No. 2) Act, 2014

Amendment of section 271FA 70. In section 271FA of the Income-tax Act, with effect from the 1st day of April, 2015, (i) in the marginal heading, for the words annual information return , the words statement of financial transaction or reportable account shall be substituted; (ii) for the words an annual information return , the words a statement of financial transaction or reportable account shall be substituted; (iii) for the word return , wherever it occurs, the word statement shall be substituted.