Section 92D of Income Tax Act "Maintenance and keeping of information and document by persons entering into an international transaction or specified domestic transaction"
92D. (1) Every person,-
(i) who has entered into an international transaction or
specified domestic transaction shall keep and maintain such
information and document in respect thereof as may be
prescribed;
(ii) being a constituent entity of an international
group, shall keep and maintain such information and document
in respect of an international group as may be prescribed.
Explanation.-For the purposes of this clause,-
(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.
(2) Without prejudice to the provisions contained in
sub-section (1), the Board may prescribe the period for
which the information and document shall be kept and
maintained under the said sub-section.
(3) The Assessing Officer or the Commissioner (Appeals) may,
in the course of any proceeding under this Act, require any
person referred to in clause (i) of sub-section (1) to
furnish any information or document referred therein, within
a period of thirty days from the date of receipt of a notice
issued in this regard:
Provided that the Assessing Officer or the Commissioner
(Appeals) may, on an application made by such person, extend
the period of thirty days by a further period not exceeding
thirty days.
(4) The person referred to in clause (ii) of sub-section (1)
shall furnish the information and document referred therein
to the authority prescribed under sub-section (1) of section
286, in such manner, on or before such date, as may be
prescribed.]
92E. Every person who has entered into an international transaction or specified domestic transaction during a previous year shall obtain a report from an accountant and furnish such report on or before the specified date in the prescribed form duly signed and verified in the prescribed manner by such accountant and setting forth such particulars as may be prescribed.
What is the Meaning of associated enterprise? Section 92A of Income Tax Act 1961
What is the Meaning of international transaction? Section 92B of Income Tax Act 1961
What is the Meaning of specified domestic transaction? Section 92BA of Income Tax Act 1961
What is Computation of arm's length price? Section 92C of Income Tax Act 1961
What is Reference to Transfer Pricing Officer? Section 92CA of Income Tax Act 1961
What is the Effect to advance pricing agreement? Section 92CD of Income Tax Act 1961