9911796707
TMI BlogInsertion of new sections 15A and 15B- Penalty for failure to furnish information returnX X X X Extracts X X X X X X X X Extracts X X X X ..... a local authority or other public body or association; or (c) any authority of the State Government responsible for the collection of value added tax or sales tax; or (d) an income tax authority appointed under the provisions of the Income-tax Act, 1961; or [43 of 1961] (e) a banking company within the meaning of clause (a) of section 45A of the Reserve Bank of India Act, 1934; or [2 of 1934] (f) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red to in clause (f) of section 2 of the Securities Contracts (Regulation) Act, 1956; or [42 of 1956] (l) a depository referred to in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996; or [22 of 1996] (m) an officer of the Reserve Bank of India, constituted under section 3 of the Reserve Bank of India Act, 1934, [2 of 1934] who is responsible for maintaining record of regist ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ying the defect within a period of thirty days from the date of such intimation or within such further period which, on an application made in this behalf, the prescribed authority may allow and if the defect is not rectified within the said period of thirty days or, as the case may be, the further period so allowed, then, notwithstanding anything contained in any other provision of this Act, such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, a sum of one hundred rupees for each day of the period during which the failure to furnish such return continues. . - Clause 90 of the Bill seeks to insert a new section 15A in the Central Excise Act so as to empower the Central Government to prescribe an authority or agency to whom the information return shall be filed by the specified persons such as Income-tax authorities, State Electricity ..... X X X X Extracts X X X X X X X X Extracts X X X X
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