Section 40a(2)(b)
This query is : Resolved
09 July 2014
Whether Companies having Common director are covered under this provisions?
Two companies are having Common Director.(i.e.A Ltd and B PVT Ltd.)Now Company A purchases goods from company B .This transaction is exceeding Rs. 5 Crores. So,in this case whether section 40(a)(2)(b) is applicable (including reporting requirements in 3 CD) And also Suggest me about applicability of Domestic Transfer Pricing.
Please Resolve my Query And provide me reference of another provisions (with sub section) if applicable.
Two companies are having Common Director.(i.e.A Ltd and B PVT Ltd.)Now Company A purchases goods from company B .This transaction is exceeding Rs. 5 Crores. So,in this case whether section 40(a)(2)(b) is applicable (including reporting requirements in 3 CD) And also Suggest me about applicability of Domestic Transfer Pricing.
Please Resolve my Query And provide me reference of another provisions (with sub section) if applicable.
09 July 2014
it is covered if the directors of B Pvt Ltd are having beneficial shareholding of 20% or more in the A ltd
yes Domestic Transfer pricing is applicable if it exceeds Rs.5 Crores
yes Domestic Transfer pricing is applicable if it exceeds Rs.5 Crores
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