India - Income Tax Act 2010 - Saarc

S. 285BA I.T. ACT, 1961 1.942and deliver or cause to be delivered to the 80 [Assessing] Officer, within thirty daysfrom the end of such financial year or within thirty days from the date of thecompletion of the production of the film, whichever is earlier, a statement inthe prescribed form containing particulars of all payments of over 81 [fifty]thousand rupees in the aggregate made by him or due from him to each suchperson as is engaged by him in such production 82 [***].]83[Obligation to furnish annual information return 84 .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 theRegistration Act, 1908 (16 of 1908); or(e) the registering authority empowered to register motor vehicles underChapter IV of the Motor Vehicles Act, 1988 (59 of 1988); or(f) the Post Master General as referred to in clause (j) of section 2 of theIndian Post Office Act, 1898 (6 of 1898); or(g) the Collector referred to in clause (c) of section 3 of the LandAcquisition Act, 1894 (1 of 1894); or(h) the recognised stock exchange 85 referred to in clause (f) of section 2of the Securities Contracts (Regulation) Act, 1956 (42 of 1956); or(i) an officer of the Reserve Bank of India, constituted under section 3of the Reserve Bank of India Act, 1934 (2 of 1934); or(j) a depository referred to in clause (e) of sub-section (1) of section 2 ofthe Depositories Act, 1996 (22 of 1996) 85 ,who is responsible for registering, or, maintaining books of account or otherdocument containing a record of any specified financial transaction, under anylaw for the time being in force, shall furnish an annual information return 86 , inrespect of such specified financial transaction which is registered or recorded byhim during any financial year beginning on or after the 1st day of April, 2004 andinformation relating to which is relevant and required for the purposes of this80. Substituted for “Income-tax” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.81. Substituted for “twenty-five” by the Finance Act, 2000, w.e.f. 1-4-2001. Earlier “twenty-five”was substituted for “five” by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999.82. Words “as employee or otherwise” omitted by the Finance Act, 1989, w.e.f. 1-6-1989.83. Substituted by the Finance (No. 2) Act, 2004, w.e.f. 1-4-2005. Prior to its substitution,section 285BA, as inserted by the Finance Act, 2003, w.e.f. 1-4-2004, read as under :“285BA. Annual information return.—Any assessee, who enters into any financial transaction,as may be prescribed, with any other person, shall furnish, within the prescribedtime, an annual information return in such form and manner, as may be prescribed, inrespect of such financial transaction entered into by him during any previous year.”84. For clarifications regarding furnishing of Annual Information Return, see Circular No. 7/2005, dated 24-8-2005. For details, see Taxmann’s Master Guide to Income-tax Act.85. For definition of “recognised stock exchange” and “depository”, see Appendix.86. See rule 114E and Form No. 61A.