Information and documents to be kept and maintained under section 92D

An Assessee shall keep and maintain the following documents and information entering into International Transaction

1 Ownership structure of the Assessee Enterprise with details of No of share held therein by other enterprises

2 Profile of the multinational group ie.name, address, legal status and country of tax residence of enterprse in the group with whom international transactions have been entered into by the assessee, and ownership linkages among them;

3 Business of the assessee and the industry in which the assessee operates, of the associated enterprises with whom the assessee has transacted;

4 Nature and Terms (including prices) of international transactions entered into with each Associated Enterprise, Details or class of such transaction.

5 Descripttion of the functions performed, risks assumed and assets employed in the international transaction

6 Record of the Economic and Market analyses, forecasts, budgets etc prepared for the business as a whole or for each division or product separately, which may have a bearing on the international transactions entered into by the assessee;

7 Record of nature , term and condition ofUncontrolled Transactions analysing their comparability with the international transactions entered into, with third parties which may be of relevance to the pricing of the international transactions;

8 Record of the analysis performed to evaluate comparability of uncontrolled transactions with the relevant international transaction;

9 Methods for determining the arm’s length price in relation to each international transaction, the method selected as the most appropriate method along with explanations as to why such method was so selected, and how such method was applied in each case;

10 Working carried out for determining the arm’s length price, including details of the comparable data and financial information used in applying the most appropriate method, and adjustments, if any, which were made to account for differences between the international transaction and the comparable uncontrolled transactions, or between the enterprises entering into such transactions;

11 Assumptions, policies and price negotiations, which have critically affected the determination of the arm’s length price;

12 Adjustments made to transfer prices to align them with arm’s length prices determined to be made to the total income for tax purposes;

13 Any other information, data or document, which may be relevant for determination of the arm’s length price.

The information specified above shall be supported by authentic documents, which may include the following

1 Official publications, reports and data bases from the Govt. of the country of residence of the associated enterprise.

2 Reports of market research studies carried out and technical publications brought out by institutions of national or international repute

3 Price publications including stock exchange and commodity market quotations

4 Audited Accounts and financial statements relating to the business affairs of the associated enterprises

5 Agreements or Contracts entered into with associated enterprises or with unrelated enterprises in respect of the international transactions

6 Documents related to any terms of negotiation between the assessee and the associated enterprise;

7 Documents issued in connection with various transactions under the accounting practices followed.

* These Documents shall be kept for the period of eight years from the end of relevant financial year.