Country-by-country reporting: revised deadline requires group reports within a year and clarifies exchange agreements and cross-references.

Amendments to section 286 require the parent or alternate reporting entity of an international group resident in India to furnish the country-by-country report within twelve months from the end of the reporting accounting year, add cross-reference to sub-section (4) for constituent entities, redefine "agreement" to combine treaty-based arrangements and a notified exchange agreement for such reports, and make textual adjustments to filing references and singular/plural usage; the changes are stated to be clarificatory and retrospective.

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