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of <h1>International Groups Must Report Financial Data Annually Under Income Tax Rules Section on Alternate Reporting Entities</h1> Every constituent entity resident in India that is part of an international group with a parent entity not resident in India must notify the prescribed income-tax authority about its status as an alternate reporting entity or provide details of the parent or alternate reporting entity. The parent or alternate reporting entity resident in India must annually furnish a detailed report on the international group's financial and operational data, including revenue, profit, tax paid, assets, employees, and business activities by country. Other constituent entities must file the report if the parent entity is from a jurisdiction lacking a reporting agreement with India or in case of systemic failure by that jurisdiction. The prescribed authority may require additional information to verify the report's accuracy. These provisions do not apply if the group's consolidated revenue falls below a prescribed threshold and are subject to prescribed guidelines and conditions.
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