GUIDANCE NOTE ON REPORT
UNDER SECTION 92E OF
THE INCOME-TAX ACT, 1961
[Based on the law as amended by the Finance Act, 2017]
(Last date for Comments: 11th September, 2017)
EXPOSURE DRAFT- GUIDANCE NOTE ON REPORT UNDER SECTION 92E OF THE INCOME-TAX ACT, 1961 (TRANSFER PRICING)
Following is the Exposure Draft of the Guidance Note on Report under section 92E of the Income-tax Act, 1961 (Transfer Pricing), issued by the Committee on International Taxation of ICAI for comments. Changes have been made to the extent of amendments made by the Finance Act, 2017.
The Committee invites comments on this Exposure Draft. Comments are most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide suggestions for alternative wording.
How to comment:
Comments can be submitted using one of the following methods, so as to be received not later than 11th September, 2017.
1. Email: Comments can be sent to firstname.lastname@example.org
2. Postal: Secretary, Committee on International Taxation,
Committee on International Taxation
The Institute of Chartered Accountants of India
Sixth Floor, Hostel Block
A-29, Sector -62,
1.1 In an era of liberalization and globalization of trade and investment and the emergence of e-commerce, the perceptible results have been – increase in the number of cross-border transactions, the complexity, speed and lack of transparency with which global business can be transacted. There is a general belief that multi-national corporations, in an effort to manage and minimize their global tax outflows, have employed creative transfer pricing approaches in the context of flow of goods, services, funds, intangibles, etc.