92D. Maintenance, keeping and furnishing of information and document by certain persons

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92D Maintenance, keeping and furnishing of information and document by certain persons

(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. 2386 2387 2388 2389 2386 Subs. by Act 23 of 2012, s. 38, for “international transaction” (w.e.f. 1-3-2013). 2387 Ins. by Act 28 of 2016, s. 48 (w.e.f. 1-4-2017). 2388 Ins. by Act 20 of 2002, s. 43 (w.e.f. 1-4-2002). 2389 Subs. by s. 43, ibid., for clause (iv) (w.e.f. 1-4-2002).