Home > Income Tax Act 2025 > Section-172Last Updated: Feb 21st 2025
Section-172 provides for report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction. Learn to understand the section-172 as it is, it's help and useful links to follow.
Here onwards, "Act" refers to "Income Tax Act 2025"
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 prescribed form duly signed and verified in the manner as prescribed by such accountant and setting forth such particulars as prescribed.
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.