due dates of return file
This query is : Resolved
23 November 2016
when any company is required for T.P(transfer pricing) and what it is??
24 November 2016
Title of your query and the query itself are completely different.
In layman terms, a transfer pricing audit needs to be done in the following cases
a) if an assessee has any "international transactions" i.e. a transaction affecting its profit/loss, asset/liability with an associate concern who is non-resident.
b) if an assessee has "specified domestic transactions" exceeding Rs. 20 crore in a year. Specefied Domestic Transactions are those entered into between an assessee and related parties as defined u/s 40A(2)(a) or within its own business units, in case of deductions claimed under certain sections like 80-IA, 10A etc.
The subject is complicated and cannot be answered easily but this is the best i could do.
In layman terms, a transfer pricing audit needs to be done in the following cases
a) if an assessee has any "international transactions" i.e. a transaction affecting its profit/loss, asset/liability with an associate concern who is non-resident.
b) if an assessee has "specified domestic transactions" exceeding Rs. 20 crore in a year. Specefied Domestic Transactions are those entered into between an assessee and related parties as defined u/s 40A(2)(a) or within its own business units, in case of deductions claimed under certain sections like 80-IA, 10A etc.
The subject is complicated and cannot be answered easily but this is the best i could do.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Under construction property in ITR
- PPF interest-As Exempt Income disclosure
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- GST ON TRAVELLING BILLS
- Indian IT Portal issue in computing tax as per UK-India DTAA
- F & O PROFIT REPORTING FOR AY 2026-27
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
