Transfer Pricing reference limit raised to Rs 15 crores

This query is : Resolved

ankush94 (Querist)
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05 August 2010 From which Assessment Year is the minimum limit of Rs 5 crores raised to Rs 15 crores for compulsory reference to Transfer Pricing Officer?

Has it been changed in the I.T. Rules? The Rules still show Rs 5 crores as the minimum limit for compulsory reference to TPO.

VINOD ARORA

VINOD ARORA (Expert)
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14 August 2010 The threshold limit of Rs 15 crore is applicable for financial year 2005-06 onwards.

ankush94

ankush94 (Querist)
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15 August 2010 Dear Mr.Arora,

The enhanced limit of 15 crores appears to be relevant only for picking up for scrutiny as per CBDT Guidelines for scrutiny for FY 2006-07.

Circular Date : 30 Jul 07
Topic : Procedure for selection of cases for 'Scrutiny' for non-corporate assessees
Circular Details :

Jul, 30th 2007

x) (a) All cases where total value of International Transactions (as defined u/s 92 B of the Income tax Act) exceed Rs. 15 crores)

Is there any CBDT instruction superseding the 2003 instruction for compulsory reference to TPO for int.transactions above Rs 5 crores?

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