Amendment of section 286.

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.... shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2017; (c) in sub-section (4),-- (i) after the words "reporting accounting year", the words "within the period specified in that sub-section" shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2017; (ii) clause (a) shall be relettered as clause (aa) thereof and before clause (aa) as so relettered, the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2017, namely:-- "(a) where the parent entity is not obligated to file the report of the nature referred to in sub-section (2);"; (d) in sub....

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....en substituted with effect from the 1st day of April, 2017; (D) in clause (j), for the word, brackets and figure "sub-section (2)", the words, brackets and figures "sub-sections (2) and (4)" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2017. - Clause 53 of the Bill seeks to amend section 286 of the Income-tax Act relating to furnishing of report in respect of international group. The said section, inter alia, provides for specific reporting regime containing revised standards for transfer pricing documentation and a template for country-by-country reporting. Sub-section (2) of the said section provides that the parent entity or the alternate reporting entit....