Transfer Pricing reference limit raised to Rs 15 crores
This query is : Resolved
05 August 2010
From which Assessment Year is the minimum limit of Rs 5 crores raised to Rs 15 crores for compulsory reference to Transfer Pricing Officer?
Has it been changed in the I.T. Rules? The Rules still show Rs 5 crores as the minimum limit for compulsory reference to TPO.
Has it been changed in the I.T. Rules? The Rules still show Rs 5 crores as the minimum limit for compulsory reference to TPO.
VINOD ARORA
(Expert)
14 August 2010
The threshold limit of Rs 15 crore is applicable for financial year 2005-06 onwards.
15 August 2010
Dear Mr.Arora,
The enhanced limit of 15 crores appears to be relevant only for picking up for scrutiny as per CBDT Guidelines for scrutiny for FY 2006-07.
Circular Date : 30 Jul 07
Topic : Procedure for selection of cases for 'Scrutiny' for non-corporate assessees
Circular Details :
Jul, 30th 2007
x) (a) All cases where total value of International Transactions (as defined u/s 92 B of the Income tax Act) exceed Rs. 15 crores)
Is there any CBDT instruction superseding the 2003 instruction for compulsory reference to TPO for int.transactions above Rs 5 crores?
The enhanced limit of 15 crores appears to be relevant only for picking up for scrutiny as per CBDT Guidelines for scrutiny for FY 2006-07.
Circular Date : 30 Jul 07
Topic : Procedure for selection of cases for 'Scrutiny' for non-corporate assessees
Circular Details :
Jul, 30th 2007
x) (a) All cases where total value of International Transactions (as defined u/s 92 B of the Income tax Act) exceed Rs. 15 crores)
Is there any CBDT instruction superseding the 2003 instruction for compulsory reference to TPO for int.transactions above Rs 5 crores?
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