§ 172
Chapter X — Special Provisions Relating To A Voidance Of Tax
Every person who has entered into an international transaction or
Income-tax Act, 2025
Business owners who have international or specified domestic transactions must get a report from an accountant. This report must be furnished by a specified date in a prescribed form. The report should include prescribed particulars and be signed and verified as required.
- Key details include the tax year and prescribed form.
📜 Official text of the section +
172. Every person who has entered into an international transaction or
specified domestic transaction during a tax year shall obtain a report from
an accountant and furnish such report on or before the specified date in the pre -
scribed form duly signed and verified in the manner as may be prescribed by such
accountant and setting forth such particulars as may be prescribed.
Definitions of certain terms relevant to determination of arm’s length price, etc.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.