Transfer reporting and valuation records for Indian concerns must be filed electronically with supporting documents and retained for eight years. Indian concerns covered by section 506 must maintain and furnish specified information and documents in Form No. 163 electronically under digital signature within the prescribed ninety-day period. Supporting records include holding structure details, transfer agreements, financial statements, valuation reports, tax payment details, and accounting documents. One designated Indian concern may furnish the information for a group if designation is communicated in writing, and the information and documents must be preserved for eight years from the end of the relevant tax year.
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Transfer reporting and valuation records for Indian concerns must be filed electronically with supporting documents and retained for eight years.
Indian concerns covered by section 506 must maintain and furnish specified information and documents in Form No. 163 electronically under digital signature within the prescribed ninety-day period. Supporting records include holding structure details, transfer agreements, financial statements, valuation reports, tax payment details, and accounting documents. One designated Indian concern may furnish the information for a group if designation is communicated in writing, and the information and documents must be preserved for eight years from the end of the relevant tax year.
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