TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income Tax Bill 2025 Clause 511 mirrors existing Section 286 for international group reporting under BEPS Action 13</h1> Clause 511 of the Income Tax Bill, 2025 establishes a legal framework for international group reporting that closely mirrors Section 286 of the Income-tax Act, 1961. Both provisions implement India's obligations under OECD/G20 BEPS Action 13, requiring multinational enterprises with Indian constituent entities to furnish Country-by-Country reports. The provisions mandate that Indian constituent entities notify prescribed authorities about their reporting status and require parent entities or alternate reporting entities resident in India to file comprehensive reports within twelve months of the reporting accounting year. These reports must include aggregate information on revenue, profits, taxes paid, and economic activity across jurisdictions. Secondary filing obligations apply when parent entities are in non-compliant jurisdictions or where systematic failures occur in information exchange. The framework includes exemptions, verification powers for authorities, and revenue thresholds for applicability. While Clause 511 updates statutory cross-references and modernizes language, it maintains substantive consistency with existing law, ensuring regulatory continuity while enhancing transparency in global tax reporting and transfer pricing risk assessment.
TaxTMI 
TaxTMI 