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Arm's length price for related party transactions

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04 September 2016 Respected Sirs, what is the definition of " Arm's Length Price for Related Party Transactions under Companies Act, 2013" and what is the significance and whether it is mandatory to obtain a declaration from the related supplier that the price at which the goods is being supplied to our company is as per " Arm's Length Price for Related Party Transactions under Companies Act, 2013"
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Unnikrishnan B

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Unnikrishnan B (Expert)
04 September 2016 Arm length price means the price which is prevailing in the market when transaction between related parties take place
It attracts when the amount crosses a certain limit
Kindly refer section 188 if companies act 2013
The limits are specified for each transaction
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