due dates of return file
This query is : Resolved
23 November 2016
when any company is required for T.P(transfer pricing) and what it is??
24 November 2016
Title of your query and the query itself are completely different.
In layman terms, a transfer pricing audit needs to be done in the following cases
a) if an assessee has any "international transactions" i.e. a transaction affecting its profit/loss, asset/liability with an associate concern who is non-resident.
b) if an assessee has "specified domestic transactions" exceeding Rs. 20 crore in a year. Specefied Domestic Transactions are those entered into between an assessee and related parties as defined u/s 40A(2)(a) or within its own business units, in case of deductions claimed under certain sections like 80-IA, 10A etc.
The subject is complicated and cannot be answered easily but this is the best i could do.
In layman terms, a transfer pricing audit needs to be done in the following cases
a) if an assessee has any "international transactions" i.e. a transaction affecting its profit/loss, asset/liability with an associate concern who is non-resident.
b) if an assessee has "specified domestic transactions" exceeding Rs. 20 crore in a year. Specefied Domestic Transactions are those entered into between an assessee and related parties as defined u/s 40A(2)(a) or within its own business units, in case of deductions claimed under certain sections like 80-IA, 10A etc.
The subject is complicated and cannot be answered easily but this is the best i could do.
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