CBDT relaxes CbCR furnishing deadline for entities from countries having systemic failure

CBDT had prescribed 12 month time period under Rule 10DB(4) for furnishing CbCR by constituent entity of an international group resident in India under specified circumstances u/s 286(4). However, as per this amendment in case the parent entity of the constituent entity is resident of a country or territory where there has been a systemic failure of the country or territory and the said failure has been intimated to such constituent entity, the period for submission of the report shall be 6 months from the end of the month in which said systemic failure has been intimated.

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