Tp audit
This query is : Resolved
Vishal Goel
(Querist)
15 November 2018
Who can conduct the transfer pricing audit? Please link the relevant provisions.
25 November 2018
Section 92E - Every person who has entered into an international transaction or specified domestic transaction during a previous year shall obtain a report from an accountant.
Section 92F - "accountant" shall have the same meaning as in the Explanation below sub-section (2) of section 288.
Explanation below sub-section (2) of section 288 - In this section, "accountant" means a chartered accountant as defined in clause (b) of sub-section (1) of section 2 of the Chartered Accountants Act, 1949 (38 of 1949) who holds a valid certificate of practice under sub-section (1) of section 6 of that Act
So only a Chartered Accountant holding a valid COP can issue TP audit report.
Section 92F - "accountant" shall have the same meaning as in the Explanation below sub-section (2) of section 288.
Explanation below sub-section (2) of section 288 - In this section, "accountant" means a chartered accountant as defined in clause (b) of sub-section (1) of section 2 of the Chartered Accountants Act, 1949 (38 of 1949) who holds a valid certificate of practice under sub-section (1) of section 6 of that Act
So only a Chartered Accountant holding a valid COP can issue TP audit report.
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