Maintenance, keeping and furnishing of information and document by certain persons
Maintenance, keeping and furnishing of information and document by certain persons.
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 ten 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 ten 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.