Country-by-Country reporting requires multinational groups to submit consolidated jurisdictional tax and economic data for risk assessment.
Clause 511 mandates Country-by-Country (CbC) reporting by parent entities or alternate reporting entities resident in India and requires Indian constituent entities to notify the tax authority of the parent or ARE. It prescribes report contents-aggregate jurisdictional financial and economic indicators, constituent identification, and business activities-provides a secondary filing route where the parent's jurisdiction lacks filing or exchange, allows designation of a single Indian filer, sets a revenue threshold for applicability, and grants verification powers to the authority, with procedural details to be prescribed.