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Transfer pricing

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(Querist)
27 November 2013 will an assessee be covered under section 92B audit if his all sales to one party during the previous year which exceeds rs. 5 crore.
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Sanket

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Sanket (Expert)
27 November 2013 All the transactions covered under the six limbs as mentioned above will be regarded as SDT only if the aggregate value of all transactions exceeds threshold of Rs. 5 crore. If the threshold limit is crossed, the taxpayer will be required to comply with the TP requirements with reference to all the transactions regardless of the fact that the value of transactions under one of the limbs may be very small or nominal. Thus, there is no internal threshold for each lime of the definition.
Profile Image

Sanket

Profile Image

Sanket (Expert)
27 November 2013 All the transactions covered under the six limbs as mentioned above will be regarded as SDT only if the aggregate value of all transactions exceeds threshold of Rs. 5 crore. If the threshold limit is crossed, the taxpayer will be required to comply with the TP requirements with reference to all the transactions regardless of the fact that the value of transactions under one of the limbs may be very small or nominal. Thus, there is no internal threshold for each lime of the definition.
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