INCOME TAX SECTION 92E

My client (Indian Citizen) working as Heroscope consultant for a Foriegn country. In last year he got around Rs.15 Lakhs for that service.  Whether he will cover under section 92E?.  Kindly give the details.

This is what a found in google search

Section 92E of the Indian Income Tax Act requires any taxpayer who enters into an international transaction or a specified domestic transaction with an associated enterprise to obtain a report from a chartered accountant and furnish it electronically in Form 3CEB. 

 

Replies (1)

Section 92E applies only to transactions with an Associated Enterprise (AE). Providing independent consulting services to an unrelated foreign client does not attract transfer pricing provisions or Form 3CEB reporting, though standard Indian Income Tax and GST export-of-services rules remain applicable.

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