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

10D . (1) Every person who has entered into an international transaction [or a specified
domestic transaction] shall keep and maintain the following information and documents,
namely:—
(a) a description of the ownership structure of the assessee enterprise with details of shares
or other ownership interest held therein by other enterprises;
(b) a profile of the multinational group of which the assessee enterprise is a part along with
the name, address, legal status and country of tax residence of each of the enterprises
comprised in the group with whom international transactions [or specified domestic
transactions, as the case may be,] have been entered into by the assessee, and
ownership linkages among them;
(c) a broad description of the business of the assessee and the industry in which the
assessee operates, and of the business of the associated enterprises with whom the
assessee has transacted;
(d) the nature and terms (including prices) of international transactions [or specified
domestic transactions] entered into with each associated enterprise, details of property
transferred or services provided and the quantum and the value of each such transaction
or class of such transaction;
(e) a description of the functions performed, risks assumed and assets employed or to be
employed by the assessee and by the associated enterprises involved in the international
transaction [or the specified domestic transaction];
(f) a record of the economic and market analyses, forecasts, budgets or any other financial
estimates prepared by the assessee for the business as a whole and for each division or
product separately, which may have a bearing on the international transactions [or the
specified domestic transactions] entered into by the assessee;
(g) a record of uncontrolled transactions taken into account for analysing their
comparability with the international transactions [or the specified domestic
transactions] entered into, including a record of the nature, terms and conditions
relating to any uncontrolled transaction with third parties which may be of relevance to
the pricing of the international transactions [or specified domestic transactions, as the
case may be] ;
(h) a record of the analysis performed to evaluate comparability of uncontrolled
transactions with the relevant international transaction [or specified domestic
transaction] ;
(i) a description of the methods considered for determining the arm's length price in
relation to each international transaction [or specified domestic transaction] or class of
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;
(j) a record of the actual 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 [or the specified domestic
transaction] and the comparable uncontrolled transactions, or between the enterprises
 entering into such transactions;
(k) the assumptions, policies and price negotiations, if any, which have critically affected
the determination of the arm's length price;
(l) details of the adjustments, if any, made to transfer prices to align them with arm's length
prices determined under these rules and consequent adjustment made to the total
income for tax purposes;
(m) any other information, data or document, including information or data relating to the
associated enterprise, which may be relevant for determination of the arm's length price.
(2) [Nothing contained in sub-rule (1), in so far as it relates to an international transaction,
shall] apply in a case where the aggregate value, as recorded in the books of account, of
international transactions entered into by the assessee does not exceed one crore rupees :
Provided that the assessee shall be required to substantiate, on the basis of material available
with him, that income arising from international transactions entered into by him has been
computed in accordance with section 92.
[(2A) Nothing contained in sub-rule (1), in so far as it relates to an eligible specified domestic
transaction referred to in rule 10THB, shall apply in a case of an eligible assessee mentioned in
rule 10THA and—
(a) the eligible assessee, referred to in clause (i) of rule 10THA, shall keep and maintain
the following information and documents, namely:—
(i) a desciption of the ownership structure of the assessee enterprise with details
of shares or other ownership interest held therein by other enterprises;
(ii) a broad description of the business of the assessee and the industry in which
the assessee operates, and of the business of the associated enterprises with
whom the assessee has transacted;
(iii) the nature and terms (including prices) of specified domestic transactions
entered into with each associated enterprise and the quantum and value of
each such transaction or class of such transaction;
(iv) a record of proceedings, if any, before the regulatory commission and orders
of such commission relating to the specified domestic transaction;
(v) a record of the actual working carried out for determining the transfer price of
the specified domestic transaction;
(vi) the assumptions, policies and price negotiations, if any, which have critically
affected the determination of the transfer price; and
(vii) any other information, data or document, including information or data
relating to the associated enterprise, which may be relevant for determination
of the transfer price;
(b) the eligible assessee, referred to in clause (ii) of rule 10THA, shall keep and maintain
the following information and documents, namely:—
(i) a description of the ownership structure of the assessee co-operative society
with details of shares or other ownership interest held therein by the members;
(ii) description of members including their addresses and period of membership;
(iii) the nature and terms (including prices) of specified domestic transactions
 entered into with each member and the quantum and value of each such
transaction or class of such transaction;
(iv) a record of the actual working carried out for determining the transfer price of
the specified domestic transaction;
(v) the assumptions, policies and price negotiations, if any, which have critically
affected the determination of the transfer price;
(vi) the documentation regarding price being routinely declared in transparent
manner and being available in public domain; and
(vii) any other information, data or document which may be relevant for
determination of the transfer price.]
(3) The information specified in [sub-rules (1) and (2A)] shall be supported by authentic
documents, which may include the following :
(a) official publications, reports, studies and data bases from the Government of the
country of residence of the associated enterprise, or of any other country;
(b) reports of market research studies carried out and technical publications brought out by
institutions of national or international repute;
(c) price publications including stock exchange and commodity market quotations;
(d) published accounts and financial statements relating to the business affairs of the
associated enterprises;
(e) agreements and contracts entered into with associated enterprises or with unrelated
enterprises in respect of transactions similar to the international transactions [or the
specified domestic transactions, as the case may be];
(f) letters and other correspondence documenting any terms negotiated between the
assessee and the associated enterprise;
(g) documents normally issued in connection with various transactions under the
accounting practices followed.
(4) The information and documents specified under [sub-rules (1), (2) and (2A)], should, as far
as possible, be contemporaneous and should exist latest by the specified date referred to in
clause (iv) of section 92F:
Provided that where an international transaction [or a specified domestic
transaction] continues to have effect over more than one previous year, fresh documentation
need not be maintained separately in respect of each previous year, unless there is any
significant change in the nature or terms of the international transaction [or the specified
domestic transaction, as the case may be], in the assumptions made, or in any other factor
which could influence the transfer price, and in the case of such significant change, fresh
documentation as may be necessary under [sub-rules (1), (2) and (2A)] shall be maintained
bringing out the impact of the change on the pricing of the international transaction [or the
specified domestic transaction].
(5) The information and documents specified in [sub-rules (1), (2) and (2A)] shall be kept and
maintained for a period of eight years from the end of the relevant assessment year.