Substitution of new section for section 285BA- Obligation to furnish statement of financial transaction or reportable account

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..... 2015, namely:- Obligation to furnish statement of financial transaction or reportable account 285BA. (1) Any person, being- (a) an assessee; or (b) the prescribed person in the case of an office of Government; or (c) a local authority or other 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 register .....

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..... ;[ 22 of 1996.] or (k) a prescribed reporting financial institution, who is responsible for registering, or, maintaining books of account or other document containing a record of any specified financial transaction or any reportable account as may be prescribed, under any law for the time being in force, shall furnish a statement in respect of such specified financial transaction or such reportabl .....

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..... it, which may be prescribed: Provided that the Board may prescribe different values for different transactions in respect of different persons having regard to the nature of such transaction: Provided further that the value or, as the case may be, the aggregate value of such transactions during a financial year so prescribed shall not be less than fifty thousand rupees. (4) Where the prescribed in .....

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..... ho is required to furnish a statement under sub-section (1) has not furnished the same within the specified time, the prescribed income-tax authority may serve upon such person a notice requiring him to furnish such statement within a period not exceeding thirty days from the date of service of such notice and he shall furnish the statement within the time specified in the notice. (6) If any perso .....

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