ICAI has released the 5th Edition (November 2016) of the Guidance Note on Report Under Section 92E of the Income Tax Act, 1961 (Transfer Pricing). This Guidance Note was previously revised in February, 2013 & August 2013.

The ICAI has revised Guidance note on Report under Section 92E of the Income Tax Act, 1961 (Transfer Pricing) based on the law as amended by the Finance Act, 2016.

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This Guidance Note was last revised in August 2013, when Part C was inserted in Form No. 3CEB to report specified domestic transactions under section 92BA. Since then there have been various developments in law; for example – notification of safe harbour rules in respect of arm’s length price under section 92C or section 92CA; notification of provisions/rules for roll back mechanism; range concept and use of multiple year data for determination of arm’s length price; increased threshold limit for the applicability of the specified domestic transaction, etc.

This revised version of the Guidance Note contains all these important changes.

Click here to read the complete Guidance note.


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