75B. Obligation to furnish Annual Information Return.-

75B. Obligation to furnish Annual Information Return.-

(1) Government may, by notification in the official gazette, require any person or group of persons responsible  for  registering  or  maintaining  books  of  account  or  other documents  containing  a  record  of  any  specified  financial  transaction,  under any law for the time being in force, to furnish an Annual Information Return, in respect of such specified financial transaction.

(2)  The  Annual  Information  Return  referred  to  in  sub-section  (1)  shall  be furnished to the Board or any other income tax authority or agency, in such form, manner and within such time as may be prescribed.

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