The Institute of Chartered Accountants of India (ICAI), the apex body of the Chartered Accountants, has recently released the Exposure Draft of the Guidance Note on Report under section 92E of the Income-Tax Act, 1961 (Transfer Pricing), prepared by the Committee on International Taxation of ICAI.
The law relating to transfer pricing is dynamic and the members of the Institute are getting acquainted with the practical implications of the provisions and rules relating to Transfer pricing.
Guidance has been given with regard to how the Chartered Accountant should exercise due diligence while verifying international transactions in view of the increased scope of the definition of International Transactions.
The draft contains the changes made by the Finance Act, 2017.
The Committee, also invited comments on the Exposure Draft.
Comments can be submitted using either by Email to citax@icai.in `or by postal before 11th September, 2017.
Read the Full Text of the Draft Guidelines Below
