Section 506 Income Tax Act 2025
Furnishing of information or documents by an Indian concern in certain cases.
506. Where,—
| (a) | any share of, or interest in, a company or an entity registered or incorporated outside India derives, directly or indirectly, its value substantially from the assets located in India, as referred to in section 9(10)(a); and |
| (b) | such company or entity, as the case may be, holds, directly or indirectly, such assets in India through, or in, an Indian concern, |
then, such Indian concern shall, for the purposes of determination of any income accruing or arising in India under the said section, furnish within prescribed period to the prescribed income-tax authority the information or documents in such manner, as may be prescribed.