Income Tax : The article explains how transactions between associated domestic entities exceeding ₹20 crore must comply with arm's length pri...
Income Tax : Taxpayers entering specified domestic transactions exceeding prescribed thresholds must maintain transfer pricing documentation, a...
Income Tax : The article explains how safe harbour rules simplify transfer pricing compliance. It highlights that eligible transactions are acc...
Income Tax : The new Form 48 replaces Form 3CEB and mandates reporting of international and domestic transactions. It enhances structured trans...
Income Tax : Explore the rules and challenges of Domestic Transfer Pricing (DTP) in India. Learn about legal definitions, threshold limits, app...
Income Tax : From April 2025, TPOs can determine ALP for SDTs not initially referred or reported. This ensures accurate adjustments and complia...
Income Tax : The Income Tax Appellate Tribunal (ITAT) in Pune deleted the penalty in the Jyoti Paper Udyog Ltd Vs. ACIT case due to non-product...
Income Tax : ITAT Mumbai held that adjustment on account of examination of the arm’s-length price of the specified domestic transactions is n...
Income Tax : Finance Act, 2017 removed clause (i) of section 92BA, effectively nullifying any decisions made by the Assessing Officer under thi...
Income Tax : Held that a domestic transaction of purchase from the related party is not required to be considered as a specified domestic trans...
Income Tax : Garg Acrylics Ltd. Vs Addl. CIT (ITAT Delhi) It is the case of the assessee that reference made to the TPO in the instant case wit...
Income Tax : Notification No. 46/2023-Income-Tax Dated: 26th June, 2023 regarding deemed arm's length price for assessment year 2023-2024. Le...
Income Tax : Procedure for registration and submission of Statement of Reportable Account as per section 285BA of Income-tax Act, 1961 read wit...
Income Tax : Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 196...
Income Tax : As per sub-rule (1)(i) and sub-rule (4) of Rule 114D, the statement in Form No. 61 shall be furnished through online transmission ...
Income Tax : Under electronic verification, the individual or a person (not being a company or firm) who does not have a permanent account numb...
The article explains how transactions between associated domestic entities exceeding ₹20 crore must comply with arm’s length pricing rules. Failure to do so may result in recomputation of income and penalties for under-reporting or misreporting under Section 270A.
Taxpayers entering specified domestic transactions exceeding prescribed thresholds must maintain transfer pricing documentation, as failure to do so can attract penalties of 2% of the transaction value and other compliance consequences.
The article explains how safe harbour rules simplify transfer pricing compliance. It highlights that eligible transactions are accepted without scrutiny if conditions are met.
The new Form 48 replaces Form 3CEB and mandates reporting of international and domestic transactions. It enhances structured transfer pricing compliance.
From April 2025, TPOs can determine ALP for SDTs not initially referred or reported. This ensures accurate adjustments and compliance with new regulations.
Explore the rules and challenges of Domestic Transfer Pricing (DTP) in India. Learn about legal definitions, threshold limits, applicability, Arm’s Length Price, documentation, issues, and techniques.
The Income Tax Appellate Tribunal (ITAT) in Pune deleted the penalty in the Jyoti Paper Udyog Ltd Vs. ACIT case due to non-production of Form No. 3CEB under Section 92E.
ITAT Mumbai held that adjustment on account of examination of the arm’s-length price of the specified domestic transactions is not valid because of deletion of the provisions of Section 92BA (1) of the Act with effect from 1/4/2017. Provisions of Section 40A (2) of the act governs the allowability of those expenditure.
Finance Act, 2017 removed clause (i) of section 92BA, effectively nullifying any decisions made by the Assessing Officer under this section. Reference to the TPO under section 92CA also becomes invalid
Notification No. 46/2023-Income-Tax Dated: 26th June, 2023 regarding deemed arm’s length price for assessment year 2023-2024. Learn about the tolerance range for wholesale trading and other cases in international transactions or specified domestic transactions.
