Obligation to furnish annual information return.

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..... annual information return, in respect of such specified financial transaction. (2) The person referred to in sub-section (1) shall be— (a) an assessee; (b) a designated person in the case of an office of the Government; (c) a local authority or other public body or association; (d) the Registrar or Sub-Registrar appointed under section 6 of the Registration Act, 1908; (e) the registering authorit .....

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..... nner (including on a floppy, diskette, magnetic cartridge tape, CD-ROM or any computer readable media) and within such time as may be prescribed. (4) In this section, "specified financial transaction" means— (a) a transaction of purchase, sale or exchange of goods or property or right or interest in a property; (b) a transaction by way of an investment made or an expenditure incurred; (c) a transa .....

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..... al information return as invalid if the defect referred to in sub-section (6) is not removed within the time allowed, and the provisions of this Code shall apply as if such person had failed to furnish the annual information return. (8) If a person who is required to furnish an annual information return under subsection (1) has not furnished the same within the specified time, then, the income-tax .....

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