Section 125 — Furnishing of authorisation and maintenance of documents, etc. for the purposes of section 176

(1) For the purposes of section 176(3)(a), the authorisation to be submitted by the assessee, shall be in Form No. 61.
(2) The assessee shall cause the first copy of the filled up Form No. 61 to be deposited with or transmitted to the financial institution referred in section 176(3)(a).
(3) The second copy of the filled up Form No. 61 along with the evidence of the first copy of said form having been deposited or transmitted to the financialinstitution shall be submitted by the assessee to the Assessing Officer having jurisdiction over him.
(4) For the purposes of ensuring that the authorisation in Form No. 61 is legally enforceable, the assessee shall take all necessary steps as are required underany law in force in India or outside India.
(5) For the purposes of section 176(3)(b), the assessee who has entered into a transaction with a person located in a notified jurisdictional area (herein referredto as the specified person) shall, in addition to information and documents referred to in rule 84(1), keep and maintain the following information anddocuments, namely:—
(a) a description of the ownership structure of the specified person, including name and address of individuals or other entities, whether located in thenotified jurisdictional area or outside, having directly or indirectly more than 10% shareholding or ownership interests;(b) a profile of the multinational group of which the specified person is a part along with the name, address, legal status and country of tax residence ofeach of the enterprises comprised in the group with whom the assessee has entered into a transaction, and ownership linkage among them;(c) a broad description of the business of the specified person and the industry it operates in;
(d) any other information, data or document, which may be relevant for the transaction with the specified person.
(6) The information and documents specified in sub-rule (5) shall be for the period upto the due date of filing of return of income under section 263(1).
(7) The information and documents specified in sub-rule (5) shall be kept and maintained for a period of eight years from the end of the financial yearsucceeding the relevant tax year.