22. Information to be furnished regarding changes in Business, etc.-

(1) If any person or dealer liable to pay tax under this Act-

(a) transfers whether by way of sale or not or otherwise disposes of his business or any part thereof, or effects or knows of any other change in the ownership of the business; or

(b) discontinues his business, or changes the place thereof or opens a new place of business; or

(c) changes the name or nature of his business; or

(d) enters into a partnership or other association in regard to his business; or

(e) effects any change regarding the opening or closing of the declared Bank accounts of his business; or

(f) applies for, or has an application made against him for, insolvency, liquidation,

he shall, within the prescribed time, inform the prescribed authority accordingly.

(2) Where any dealer liable to pay tax under this Act-

(a) dies, his executor, administrator or other legal representative; or

(b) where he is firm, a Hindu undivided family or an association of persons and there is a change in the constitution of such firm, Hindu undivided family or association, either by way of dissolution or disruption, or otherwise, then, every person who was a partner, karta or a member of such firm, a Hindu undivided family or association; or

(c) transfers or otherwise disposes of his business in the circumstances mentioned in sub-section (4) of section 19, then every person to whom the business is so transferred,

shall, in the prescribed manner inform the prescribed authority of such death, change in the constitution, dissolution, disruption or transfer.