Transfer pricing.
This query is : Resolved
26 August 2013
what is transfer pricing.?
please elaborate in details..
please elaborate in details..
26 August 2013
Dear Rinky
Transfer pricing is governed by section 92C of the incone tax act 1961.
In applies in case of a transaction between associated enterprises.
Here the assessee is required to show that the transaction was at an arms length price..i.e it was not prejudiced by the relation of the enterprises.
This means you have to show that the transaction was at a price which would have been charged had it not been between related parties.
Till now it applied only to foreign enterprises..however now it applies to domestic transactions as well
Incase you have any doubt..feel fre to ask
-Ankit
Transfer pricing is governed by section 92C of the incone tax act 1961.
In applies in case of a transaction between associated enterprises.
Here the assessee is required to show that the transaction was at an arms length price..i.e it was not prejudiced by the relation of the enterprises.
This means you have to show that the transaction was at a price which would have been charged had it not been between related parties.
Till now it applied only to foreign enterprises..however now it applies to domestic transactions as well
Incase you have any doubt..feel fre to ask
-Ankit
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