What India Transfer Pricing - Section 92 of the Income Tax Act 1961 (Arm's Length Standard) requires
Sections 92 to 92F of the Income Tax Act 1961 (as inserted by the Finance Act 2001 and substantially amended since) establish India's transfer pricing framework for international transactions and specified domestic transactions between associated enterprises. The arm's length price must be determined using prescribed methods. A mandatory chartered accountant's report (Form 3CEB) must be filed if the aggregate of international transactions exceeds INR 1 crore. Three-tier documentation (master file, local file, country-by-country report) applies to MNEs with consolidated group revenue exceeding INR 500 crore. Failure to furnish documentation attracts penalties of 2% of the value of each international transaction under Section 271G.
Pillar: Tax & Transfer Pricing · Authority: Central Board of Direct Taxes (CBDT); Income Tax Department of India · Version: 1.0.0 · Last updated:
Primary source: https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx
SHA-256 integrity: 006607df2709c83cd85ac41105a63e80bb626f6525a93c5782a925a66c8f7000
Primary Citations — 7 traced to source
- Income Tax Act 1961 (India), Sections 92-92F (as amended by Finance Act 2001 and subsequent Finance Acts) - arm's length standard for international transactions; methods; documentation; penalties
- Section 92 Income Tax Act 1961 - computation of income from international transactions between associated enterprises having regard to arm's length price
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