Section 48 - Amendment of section 92D. - Finance Act, 2016

Amendment of section 92D. 48. In section 92D of the Income-tax Act, with effect from the 1st day of April, 2017,- (i) in sub-section (1), the following shall be inserted, namely:- Provided that the person, being a constituent entity of an international group, shall also keep and maintain such information and document in respect of an international group as may be prescribed. Explanation .-For the purposes of this section,- (A) constituent entity shall have the meaning assigned to it in clause (d) of sub-section (9) of section 286; (B) international group shall have the meaning assigned to it in clause (g) of sub-section (9) of section 286. ; (ii) after sub-section (3), the following sub-section shall be inserted, namely:- (4) Without prejudice to the provisions of sub-section (3), the person referred to in the proviso to sub-section (1) shall furnish the information and document referred to in the said proviso to the authority prescribed under subsection (1) of section 286, in such manner, on or before the date, as may be prescribed. .