{"act":{"id":"finance-act-2016","short_title":"The Finance Act, 2016","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2016-2017.","act_number":null,"act_year":2016,"enact_date":"2016-06-27","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":276,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2016/"},"unit":"section","section":{"number":"48","heading":"Amendment of section 92D","text":"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 sub-section (1) of section 286, in such manner, on or before the date, as may be prescribed.\".","html":"<p><b>Amendment of section 92D.</b></p><p><b>48.</b> In section 92D of the Income-tax Act, with effect from the 1st day of April, 2017,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in sub-section (1), the following shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>'<b>Provided</b> 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.</td></tr><tr><td></td><td></td><td><i>Explanation</i>.—For the purposes of this section,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>A</i>)</td><td></td><td>\"constituent entity\" shall have the meaning assigned to it in clause (<i>d</i>) of sub-section (9) of section 286;</td></tr><tr><td>(<i>B</i>)</td><td></td><td>\"international group\" shall have the meaning assigned to it in clause (<i>g</i>) of sub-section (9) of section 286.';</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>ii</i>)</td><td></td><td>after sub-section (3), the following sub-section shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"(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 sub-section (1) of section 286, in such manner, on or before the date, as may be prescribed.\".</td></tr></table></div>","words":174,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2016/section/48/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}