Introduction - Country by Country Reporting

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....e Income-tax Act, 1961 ('the Act') was inserted vide Finance Act, 2016, providing for furnishing of a Country-by-Country report (CbCR) in respect of an international group by its constituent or parent entity. The 'due date' for furnishing the Country-by-Country Report is the date specified under section 139(1) for furnishing the return of income for the relevant accounting year. FY 2016-17 wil....

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....gregate value of international transactions as per the books of accounts exceeding ₹ 50 crore or aggregate value of international transactions in respect of intangible property exceeding ₹ 10 crore. * Report of Master File has to be submitted in Form 3CEAA and the Country-by-Country Report in Form 3CEAD. * An international group having multiple Indian constituent entities may desig....