Section 113 - Insertion of new section 286.

Country-by-country reporting requirement: Indian-resident group entities must notify and furnish jurisdictional aggregate reports by due date.

A statutory country-by-country reporting regime requires Indian-resident constituent entities of international groups to notify the tax authority of parent or alternate reporting entity details. Parent or alternate reporting entities resident in India must annually file prescribed group reports with jurisdictional aggregated financial and operational metrics, constituent entity details, and business activity descriptions by the corporate return due date. Indian constituents must file where the parent jurisdiction lacks an exchange agreement or has a notified systemic failure, subject to designation rules, verification powers of the authority, a consolidated-revenue threshold, and prescribed guidelines and definitions.