Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT Audit :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: list of goods taxed at 4% :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: due date for vat payment :: ACCOUNTING STANDARDS
 
 
Direct Tax »
 CBDT asks I-T dept to take urgent steps
 I-T department asks taxpayers to update their information on e-filing portal
 Companies may have to submit income estimates by 15 November
 CBDT proposal on advance estimates of tax liability irks industry
 Advance tax calculation: Firms may have to furnish Apr-Sept income estimates
 Companies may have to furnish Apr-Sept income estimates to I-T dept
 CBDT working on a draft rule that makes it compulsory for companies to provide income estimates by Nov 15
 Companies, HNIs may soon have to specify reason for paying less advance tax than previous year
 TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
 CBEC tells field officers to take GST disputes to Supreme Court
 Jurisdiction-free income-tax assessment on the cards

Ignore safe harbour margins for transfer pricing audits, CBDT tells officers
December, 26th 2013

The Central Board of Direct Taxes (CBDT) has directed assessing officers/ transfer pricing officers to ignore safe harbour rates or margins while conducting transfer pricing audits.

“In cases where an assessee has not opted for safe harbour or the option has not been found to be valid and a regular transfer pricing audit is considered necessary, such transfer pricing audit will be carried out without regard to the safe harbour rates or margins,” said a CBDT letter to chief commissioners.

Reacting to the letter, Aseem Chawla, Partner, MPC Legal, a law firm, welcomed the initiative, but noted that it was a little belated.

“This could have been announced at the time of unveiling safe harbour regulations. The transfer pricing assessment should be carried out in an objective manner keeping into consideration the underlying facts and circumstances. It would be unfair to equate the purpose and intent of safe harbour regulations with that of transfer pricing,” he said.

Amit Maheshwari, Partner, Ashok Maheshwary & Associates, said CBDT had emphasised the fact that in case where a taxpayer does not opt for safe harbour rules, the assessing officer will not consider these as a benchmark to calculate an arm’s length price.

Meanwhile, 32 safe harbour applications have been filed with Indian tax authorities for 2012-13 before November 30, it is learnt.

Tax experts see this as a “cold response” and attribute this muted response to lack of awareness among industry.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions