Transfer prising

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bharat (Querist)

26 April 2014 Dear All, Please provide me basic understanding of International and Domestic Transfer Pricing plz its urgent...

pranav

pranav (Expert)

27 April 2014 TOPIC IS VERY WIDE, BUT TO UNDERSTAND IT SIMPLY THAT TP PROVISIONS ARE APPLICABLE FOR ALL INTERNATIONAL TRANSACTIONS AND CERTAIN SPECIFIED DOMESTIC TRANSACTIONS. TP SIMPLY MEANS THAT THE PARTIES HAS DONE THE TRANSACTION AT ALP(ARM'S LENGTH PRICE), IN OTHER-WORDS TRANSACTION IS DONE AT FMV AND NO TAX EVASION PRACTICE IS DONE

Guest

Guest (Expert)

27 April 2014 27.04.2014

Dear Pranav,

Please also read and follow the decision of the Income Tax Appellate Tribunal in the case of LI and Fung India Pvt. Ltd. v/s Commissioner of Income Tax regarding Section 92CA of the Income Tax Act, 1961 relating to Transfer Pricing - Reference to Transfer Pricing Officer given on Pages 34 to 38 titled "Legal Update - Legal Decisions" of the current The Chartered Accountant Journal (April, 2014).

In case of doubts thereafter, please let me know.

Regards,

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