MCA issues Cost Audit Order in suppression of earlier Cost Audit Orders During the year 2011-12, MCA issued various cost audit orders wherein maximum industries were brought under cost audit net. It needs attention that to bring uniformity in reporting,the MCA had issued a notification vide S.O. 1747(E) dated 7th August, 2012 mentioning Product or […]
NOTIFICATION NO. LAD-NRO/GN/2012-13/36/7368, DATED 26-3-2013 In exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to amend the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, namely:- 1. These regulations may […]
Circular No. 2/2013-Income Tax SECTION 92C OF THE INCOME-TAX ACT, 1961, READ WITH RULE 10B OF THE INCOME-TAX RULES, 1962 – TRANSFER PRICING – COMPUTATION OF ARM’S LENGTH PRICE – APPLICATION OF PROFIT SPLIT METHOD CIRCULAR NO. 2/2013 [F. NO. 500/139/2012], DATED 26-3-2013 It has been brought to the notice of CBDT that clarification is needed for selection of profit split method (PSM) as most appropriate method. The issue has been examined in CBDT. It is hereby clarified that while selecting PSM as the most appropriate method, the following points may be kept in mind :
Circular No. 3/2013-Income Tax It has been brought to the notice of CBDT that there is divergence of views amongst the field officers and taxpayers regarding the functional profile of development centres engaged in contract R&D services for the purposes of transfer pricing audit.
