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Category: CA FINAL

COST INFLATION INDEX TABLE – FINANCIAL YEAR 1981-82 ONWARDS

Cost Inflation Index (CII) – Financial Year 1981-82 Onwards till AY 2015-16 The meaning of Cost Inflation Index is given in the section 48 of the Income Tax 1961. Cost Inflation Index (CII), in relation to a previous year, means an Index, having regard to seventy-five per cent (75%) of average rise in the Consumer Price Index (CPI) for […]

SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX

SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX Computation of income from international transaction having regard to arm’s length price. 92. (1) Any income arising from an international transaction shall be computed having regard to the arm’s length price. Explanation.—For the removal of doubts, it is hereby clarified that the allowance for any expense or interest […]

Reference to Transfer Pricing Officer-Transfer Pricing

Reference to Transfer Pricing Officer. 92CA. (1) Where any person, being the assessee, has entered into an international transaction or specified domestic transaction in any previous year, and the Assessing Officer considers it necessary or expedient so to do, he may, with the previous approval of the 47[Principal Commissioner or] Commissioner, refer the computation of […]

Meaning of international transaction-Transfer Pricing

Meaning of international transaction. 92B. (1) For the purposes of this section and sections 92, 92C, 92D and 92E, “international transaction” means a transaction between two or more associated enterprises, either or both of whom are non-residents, in the nature of purchase, sale or lease of tangible or intangible property, or provision of services, or […]

Transfer Pricing-Computation of arm’s length price.

Computation of arm’s length price. 92C. (1) The arm’s length price in relation to an international transaction or specified domestic transaction shall be determined by any of the following methods, being the most appropriate method, having regard to the nature of transaction or class of transaction or class of associated persons or functions performed by […]

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