CBDT extends due-date for furnishing CbCR for FY 2016-17 to 31st March, 2018
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As per Sec 286(2) of the Income-tax Act, 1961 (Act), due date for furnishing Country by Country Report (CbCR) in respect of an international group by its constituent or parent entity is the date specified under section 139(1) of the Act for furnishing tax return for the relevant year.
Since, FY 2016-17 will be the first reporting year for furnishing CbCR and the rules for furnishing CbCR are also still under consideration, the Central Board of Direct Taxes vide Circular No. 26 of 2017 dated 25th October, 2017 extends the due date for furnishing CbCR for FY 2016-17 to March 31, 2018.
Since, FY 2016-17 will be the first reporting year for furnishing CbCR and the rules for furnishing CbCR are also still under consideration, the Central Board of Direct Taxes vide Circular No. 26 of 2017 dated 25th October, 2017 extends the due date for furnishing CbCR for FY 2016-17 to March 31, 2018.
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