India - Income Tax Act 2010 - Saarc

S. 133A I.T. ACT, 1961 1.632(5) require any dealer, broker or agent or any person concerned in themanagement of a stock or commodity exchange to furnish a statementof the names and addresses of all persons to whom he or theexchange has paid any sum in connection with the transfer, whetherby way of sale, exchange or otherwise, of assets, or on whose behalfor from whom he or the exchange has received any such sum,together with particulars of all such payments and receipts ;(6) require any person, including a banking company or any officerthereof, to furnish information in relation to such points or matters,or to furnish statements of accounts and affairs verified in themanner specified by the 49 [Assessing] Officer, the 50 [Deputy Commissioner(Appeals)] 51 [, the 52 [Joint Commissioner] or the Commissioner(Appeals)], giving information in relation to such points or matters as,in the opinion of the 53 [Assessing] Officer, the 54 [Deputy Commissioner(Appeals)] 51 [, the 52 [Joint Commissioner] or the Commissioner(Appeals)], will be useful for, or relevant to, any 55 [enquiry 56 or]proceeding 56 under this Act :57[Provided that the powers referred to in clause (6), may also beexercised by the Director-General, the Chief Commissioner, theDirector and the Commissioner :]59[Power of survey.58[Provided further that the power in respect of an inquiry, in a casewhere no proceeding is pending, shall not be exercised by any incometaxauthority below the rank of Director or Commissioner withoutthe prior approval of the Director or, as the case may be, theCommissioner.]60133A. (1) Notwithstanding anything contained in any other provision of thisAct, an income-tax authority may enter—49. Substituted for “Income-tax” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.50. Substituted for “Appellate Assistant Commissioner”, ibid.51. Substituted for “or the Inspecting Assistant Commissioner” by the Finance (No. 2) Act,1977, w.e.f. 10-7-1978.52. Substituted for “Deputy Commissioner” by the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998.Earlier “Deputy Commissioner” was substituted for “Inspecting Assistant Commissioner”by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.53. Substituted for “Income-tax” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.54. Substituted for “Appellate Assistant Commissioner”, ibid.55. Inserted by the Finance Act, 1995, w.e.f. 1-7-1995.56. For the meaning of the term “proceeding”/“enquiry”, see Taxmann’s Direct Taxes Manual,Vol. 3.57. Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.58. Inserted by the Finance Act, 1995, w.e.f. 1-7-1995.59. Substituted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-10-1975. Originalsection was inserted by the Finance Act, 1964, w.e.f. 1-4-1964.60. See also Circular No. 7-D(LXIII-7), dated 3-5-1967. For details, see Taxmann’s MasterGuide to Income-tax Act.For relevant case laws, see Taxmann’s Master Guide to Income-tax Act.