(1) The return mentioned in Section 53 shall be in Form No. 11 B and shall be submitted so as to reach the assessing authority of the area on or before the 10th day of the month following the quarter to which it relates. Banks which do not have transactions of the nature mentioned in section 53 during a quarter shall submit nil return for such quarter.

(2) Bills relating to sale of shares and stocks need not be included in the returns.