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The Central Board of Direct Taxes (CBDT) has amended Rule 10DA and Rule 10DB of the Income-tax Rules, 1962. The threshold limit for applicability of Country-by-Country (CbC) reporting has been specified under Rule 10DB. The Board has increased said limit from Rs. 5,500 crore to Rs. 6,400 crore. Now, CbC reporting is mandatory if consolidated group revenue of the international group is Rs. 6,400 crore in the preceding year.The Central Board of Direct Taxes (CBDT) has amended Rule 10DA and Rule 10DB of the Income-tax Rules, 1962. The threshold limit for applicability of Country-by-Country (CbC) reporting has been specified under Rule 10DB. The Board has increased said limit from Rs. 5,500 crore to Rs. 6,400 crore. Now, CbC reporting is mandatory if consolidated group revenue of the international group is Rs. 6,400 crore in the preceding year.taxmann.com Latest Statutory HappeningsRead More