Domestic transfer pricing
This query is : Resolved
17 November 2012
Is capital assets sale and purchase covered or only revenue income or expenditure is currently subjected for DTP
19 November 2012
Sec. 92BA provides for the applicability of the Transfer Pricing Regulations to certain Domestic Transactions between the related residnt parties for the purpose of computation of income, disallowance of expenses etc.
The provision has been inserted to avoid the practices of claiming the excessive deductions by the unit enjoying the Tax Holiday, by claiming the excess expenditures in respect of the transactions with the related parties etc.
As per the present provisions of Sec. 92BA, it can be concluded that the Specified Domestic Transactions covers only the transactions of income and expenditure and not the assets and liabilities.
The provision has been inserted to avoid the practices of claiming the excessive deductions by the unit enjoying the Tax Holiday, by claiming the excess expenditures in respect of the transactions with the related parties etc.
As per the present provisions of Sec. 92BA, it can be concluded that the Specified Domestic Transactions covers only the transactions of income and expenditure and not the assets and liabilities.
10 November 2013
There is a lack of clarity on the issue, however my personal feeling is that capital asset purchased on which depreciation is being claimed should be reported in Audit Certificate under Transfer Pricing.
Anuj
femaquery@gmail.com
Anuj
femaquery@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
