Transfer Pricing

Transfer Pricing – The Expanded Version

Income Tax - The Finance Act, 2012 expanded the scope of the term International Transaction thereby giving the clarity as to what the legislature meant or rather deemed fit to be International Transaction and consequential amendments were also made to other connected sections of Transfer Pricing in the Income-tax Act, 1961. ...

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Domestic Transfer Pricing Provisions in India

Income Tax - After the grand success of International Transfer pricing, through which huge transfer pricing orders slapped on companies with cross-border operations in the financial year 2011-12, Hon’ble Finance Minister has cast his net wider and deeper for the next one by including Specified Domestic Transactions in the purview of Transfer Pricing...

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Understanding Specified Domestic Transaction Provisions

Income Tax - SDT includes payments to related parties, inter-unit transfer of goods or services of profit linked tax holiday-eligible units, transactions of profit-linked tax holiday-eligible units with other parties and any other transaction that may be notified by the Central Board of Direct Taxes....

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All about form 3CEB + specified domestic transaction + international transaction

Income Tax - Transfer pricing provisions were earlier restricted to international transactions. With effect from 1.4.2013 , the scope of transfer pricing provisions gets extended to specified domestic transactions (SDT) exceeding Rupees twenty crore....

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Overview of Multilateral Instrument (MLI)

Income Tax - ‘Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting’ (MLI for short) is the official title of the multilateral treaty framework that aims to prevent BEPS. Base erosion and profit shifting (BEPS) refers to artificially shifting profits to low or no-tax locations where there is l...

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Introduce threshold limit of Rs. 25 crore for SDT documentation requirements: ICAI

Income Tax - The Finance Act 2012 has introduced DTP in spite of existing provisions under the Act which empower the Assessing Officer (AO) to re-compute the income of assessees availing profit-linked deductions if there are transactions with related parties or other undertakings of the same assessee...

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Acceptance of Transfer Pricing MAP and bilateral APA – Reg.

Income Tax - Clarification of India’s position on the acceptance of MAP and bilateral APA in cases of countries where Article 9(2) of OECD Model Tax Commentary is absent...

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Guidance Note on Transfer Pricing Report U/s. 92E of Income Tax Act, 1961

Income Tax - ICAI has released the 6th Edition (November 2017) 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 and October 2016. The ICAI has revised Guidance note on Report under Section 92E of the Income Tax […]...

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Fighting Tax Crime: The Ten Global Principles

Income Tax - This report sets out the 10 essential principles for effectively fighting tax crimes. It covers the legal, institutional, administrative, and operational aspects necessary for putting in place an efficient system for fighting tax crimes and other financial crimes. It draws on the insights and experience of jurisdictions around the world. ...

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Effective Inter-Agency Co-Operation in Fighting Tax Crimes and Other Financial Crimes (Third Edition)

Income Tax - This report describes the current position in 51 countries as to the law and practice for domestic inter-agency co-operation in fighting tax crimes and other financial crimes including, for the first time, co-operation with authorities responsible for the investigation and prosecution of corruption. It identifies successful practices base...

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TPO cannot conclude presence of international transaction u/s 92B merely surmises

Moet Hennessy India Pvt Ltd Vs ACIT (ITAT Delhi) - Moet Hennessy India Pvt Ltd Vs ACIT (ITAT Delhi)  In the present case, no new facts have emerged and all the facts brought to record, during the course of the assessment proceedings, do not indicate legally sustainable basis for coming to the conclusion that there was an internal transaction in res...

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Comparable with functional and risk profiles difference cannot be selected

M/s. Mckinsey Knowledge Centre India pvt. Ltd. Vs Pr. Commissioner of income tax (Delhi High Court) - M/s. Mckinsey Knowledge Centre India pvt. Ltd. Vs PCIT (Delhi High Court) The revenue urged that a stringent application of the comparability test was unnecessary as was also provisioned in Chapter-6 of United Nations Practical Manual on Transfer Pricing, Edition 2013, and some flexibility in conduc...

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Determination of PE for Services Provided by Seconded Employees in India

Samsung Electronics Co. Ltd. Vs. DCIT (Int. Taxation)- ITAT Delhi - Samsung Electronics Co. Ltd. Vs. DCIT (Int. Taxation)- ITAT Delhi Analysis of the Samsung Case on the Determination of a Permanent Establishment (PE) for Services Provided by Seconded Employees of a Korean Parent to Its Subsidiary in India This article examines the ruling of the Delhi Bench of the I...

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HC on filing of Transfer Pricing Appeals in ritualistic manner

Pr. CIT Vs Barclays Technology Centre India  Private Ltd. (Bombay High Court) - Any inclusion or exclusion of comparables per se cannot be treated as a question of law unless it is demonstrated to the Court that the Tribunal or any other lower authority took into account irrelevant consideration or excluded relevant factors in the ALP determination that impact significantly....

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International transaction cannot be presumed merely on the basis of Statement of Assessee

Renault India P. Ltd. vs. DCIT (ITAT Chennai) - Renault India case: Just because assessee mentioned that marketing expenditure incurred by it helped promotion of Renault brand in India, it cannot be presumed that such expenditure resulted in any international transaction ...

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Draft Amendment To Transfer Pricing Rule 10CB related to Computation of Interest Income U/s 92CE

F. No. 370142/12/2017-TPL - (19/06/2018) - Amendment in Rule 10CB of Income-tax Rules, 1962 in respect of computation of interest income pursuant to secondary adjustment made under section 92CE of Income-tax Act, 1961 – Comments and suggestions ...

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Draft notification proposing amendment to rule 44E, Form 34C, 34D & 34DA

F.No.370142/34/2016-TPL (Part) - (10/04/2018) - Draft notification proposing an amendment to rule 44E, Form 34C, 34D and 34DA as per BEPS action item 5, for improving transparency in relation to tax rulings– comments and suggestions...

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CBDT notifies rules for Country-By-Country Report and Master File rules

Notification No. 92/2017 / S.O. 3497(E) - (31/10/2017) - Information and documents to be kept and maintained under proviso to sub-section (I) of section 92D and to be furnished in terms of sub-section (4) of section 92D. 10DA. (1) Every person, being a constituent entity of an international group shall,-...

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Country-by-Country reporting & furnishing of master file- Draft TP rules

F. No. 370142/25/2017-TPL - (06/10/2017) - It is proposed to insert rulac 10DA, 10DB and form nos. 3CEBA to 3CEBE in the Income-tax Rules, 1962 (`the Rules'), laying down the guidelines for maintaining and furnishing of transfer pricing documentation in the Master File and Country-by-Country report. In this regard, the following guidelines a...

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CBDT Amends Form No. 3CEFA related to Application for Opting for Safe Harbour

Notification No. 62/2017-Income Tax - (18/07/2017) - These rules may be called the Income-tax (21st Amendment) Rules, 2017.They shall come into force and shall be deemed to have come into force from the 1st day of April, 2017. In the Income-tax Rules, 1962, in Appendix II, in Form No. 3CEFA, in paragraph 2, under the heading Eligible International Tra...

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Transfer Pricing’s Popular Posts

Recent Posts in "Transfer Pricing"

Transfer Pricing – The Expanded Version

The Finance Act, 2012 expanded the scope of the term International Transaction thereby giving the clarity as to what the legislature meant or rather deemed fit to be International Transaction and consequential amendments were also made to other connected sections of Transfer Pricing in the Income-tax Act, 1961. ...

Read More
Posted Under: Income Tax |

Domestic Transfer Pricing Provisions in India

After the grand success of International Transfer pricing, through which huge transfer pricing orders slapped on companies with cross-border operations in the financial year 2011-12, Hon’ble Finance Minister has cast his net wider and deeper for the next one by including Specified Domestic Transactions in the purview of Transfer Pricing...

Read More
Posted Under: Income Tax |

TPO cannot conclude presence of international transaction u/s 92B merely surmises

Moet Hennessy India Pvt Ltd Vs ACIT (ITAT Delhi)

Moet Hennessy India Pvt Ltd Vs ACIT (ITAT Delhi)  In the present case, no new facts have emerged and all the facts brought to record, during the course of the assessment proceedings, do not indicate legally sustainable basis for coming to the conclusion that there was an internal transaction in respect of AMP expenses incurred […]...

Read More

Comparable with functional and risk profiles difference cannot be selected

M/s. Mckinsey Knowledge Centre India pvt. Ltd. Vs Pr. Commissioner of income tax (Delhi High Court)

M/s. Mckinsey Knowledge Centre India pvt. Ltd. Vs PCIT (Delhi High Court) The revenue urged that a stringent application of the comparability test was unnecessary as was also provisioned in Chapter-6 of United Nations Practical Manual on Transfer Pricing, Edition 2013, and some flexibility in conducting this comparison was urged to be all...

Read More

Determination of PE for Services Provided by Seconded Employees in India

Samsung Electronics Co. Ltd. Vs. DCIT (Int. Taxation)- ITAT Delhi

Samsung Electronics Co. Ltd. Vs. DCIT (Int. Taxation)- ITAT Delhi Analysis of the Samsung Case on the Determination of a Permanent Establishment (PE) for Services Provided by Seconded Employees of a Korean Parent to Its Subsidiary in India This article examines the ruling of the Delhi Bench of the Income Tax Appellate Tribunal (ITAT or [&...

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HC on filing of Transfer Pricing Appeals in ritualistic manner

Pr. CIT Vs Barclays Technology Centre India  Private Ltd. (Bombay High Court)

Any inclusion or exclusion of comparables per se cannot be treated as a question of law unless it is demonstrated to the Court that the Tribunal or any other lower authority took into account irrelevant consideration or excluded relevant factors in the ALP determination that impact significantly....

Read More

International transaction cannot be presumed merely on the basis of Statement of Assessee

Renault India P. Ltd. vs. DCIT (ITAT Chennai)

Renault India case: Just because assessee mentioned that marketing expenditure incurred by it helped promotion of Renault brand in India, it cannot be presumed that such expenditure resulted in any international transaction ...

Read More

Understanding Specified Domestic Transaction Provisions

SDT includes payments to related parties, inter-unit transfer of goods or services of profit linked tax holiday-eligible units, transactions of profit-linked tax holiday-eligible units with other parties and any other transaction that may be notified by the Central Board of Direct Taxes....

Read More
Posted Under: Income Tax | ,

CIT(A) cannot records Satisfaction about existence of international transaction instead of AO

Shilpa Shetty Vs ACIT (ITAT Mumbai)

Shilpa Shetty case: Recording of 'satisfaction' about the existence of an international transaction was only within the jurisdiction of the AO and CIT(A) could not substitute his satisfaction for that of the AO....

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Posted Under: Income Tax |

All about form 3CEB + specified domestic transaction + international transaction

Transfer pricing provisions were earlier restricted to international transactions. With effect from 1.4.2013 , the scope of transfer pricing provisions gets extended to specified domestic transactions (SDT) exceeding Rupees twenty crore....

Read More
Posted Under: Income Tax |

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