s 68A Duty to collect and retain information of certain persons, etc.
68A.—(1) The Minister may make rules under section 7 to prescribe a class of persons to whom this section applies. (2) The Comptroller may —(a) by written notice require any person (X) that falls within a prescribed class of persons to collect, keep and retain in safe custody for a specified period not exceeding 5 years, specified identification information and income information of any person or each person within a class (Y) (including information of any outgoings and expenses incurred by Y) that entered into an agreement or arrangement of a specified description with X for Y to carry on any trade, business, profession or vocation for which Y derives income chargeable to tax under this Act; and (b) by written notice to X, require X to provide the Comptroller or any person specified in the written notice, any information retained under paragraph (a) in the form and manner and within the time specified in the notice, or any extension of such time by the Comptroller in any particular case. (3) Any person who, without reasonable excuse, fails to comply with any requirement under subsection (2)(a) or (b) shall be guilty of an offence. (4) In this section, “person” includes a partnership, and the reference in subsection (2)(a) to income of Y that is chargeable to tax is, in a case where Y is a partnership, to the income of the partners of Y.[Act 30 of 2023 wef 30/10/2023]