Friday , July 20, 2018 |   12:15:55 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Instant Updates Newsletters
 
NEWS FLASH
 
TP - Treatment of certain expenses as operating revenue, for purpose of ALP determination, need not be decided u/s 260A being fact finding exercise - YES: HC (See 'Breaking News') TP - Outstanding receivables from AEs cannot be re-characterized as 'short term loan', without examining its impact on working capital of Indian taxpayer entity: ITAT (See 'Breaking News') TP - Failure to adopt correct margin of comparables during course of ALP determination, merits recall of matter for limited purpose of rectifying such ommission: ITAT (See 'Breaking News') I-T - Commission paid to agents abroad, for procuring export order overseas, does not attracts withholding tax liability u/s 195: ITAT (See 'Breaking News') I-T - Service tax collection by foreign shipping companies on behalf of Government, does not form part of their gross receipts u/s 44B since having no element of profit: ITAT (See 'Breaking News') TP - No reference can be made to TPO for determination of ALP once re-opening is initiated without AO disposing of assessee's objections to reopening: HC (See 'Breaking News') I-T - Interference with Settlement Commissionís findings is not permitted under Writ jurisdiction without any visible manifest error or non application of mind in such findings: HC (See 'Breaking News') India-Qatar DTAA - Exemption granted to interest derived by govt-owned financial agencies (See Notifications in 'Intl Taxation') I-T - Failure to issue notice u/s 143(2) in re-assessment proceedings prior to finalizing re-assessment order is not condonable u/s 292BB: ITAT (See 'Breaking News') TP - Modifications in selection of comparables based on functional & RPT filter is factual analysis & need not be challenged before writ court u/s 260A: HC (See 'Breaking News') TP - CUP is inappropriate for benchmarking international transaction of import made from AEs, if there are differences in dimensions of import made against AEs & third parties: ITAT (See 'Breaking News') TP - Entities undergoing extraordinary events of merger & amalgamation which hugely affect entire business model are not good comparables: ITAT (See 'Breaking News') I-T - Furnishing revised return to rectify omissions in original return is no basis to presume concealment, warranting penalty: ITAT (See 'Breaking News') GST Law Amendments - Will Council make it more taxpayer-friendly? (See 'Cob(Web)' in 'TIOL') TP - Product dissimilarity between two manufacturing entities makes them uncomparable for benchmarking international transaction: ITAT (See 'Breaking News') TP - Once there exists transaction between two AEs, it ceases to be 'uncontrolled transaction' & so goes out of reckoning under Rule 10B(1)(e)(ii): ITAT (See 'Breaking News') TP - Mere reimbursement of pass through costs incurred by Indian entity on behalf of its overseas AE does not entail any markup without any services being rendered: ITAT (See 'Breaking News') TP - In case of foreign company, AO is required to pass draft assessment order in terms of Sec. 144C, if he proposes to make variation in its returned income: HC (See 'Breaking News') Global Forum releases 7 peer review reports (See 'TII Brief')
 
TII SEARCH
 
 
   
Home >>
 

Transfer Pricing - CBDT inserts new columns in Form No 3CEFA relating to employee cost in relation to operating expenses + currency of denomination of loan amount for each transaction + credit rating of AE
By TII News Service
Jul 18, 2017 , New Delhi

    

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF DIRECT TAXES
NEW DELHI

NOTIFICATION NO

62 /2017, Dated: July 18, 2017

G.S.R. 891(E).- In exercise of the powers conferred by section 295 read with sub-section (2) of section 92CB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. (1) These rules may be called the Income-tax (21st Amendment) Rules, 2017.

(2) They shall come into force and shall be deemed to have come into force from the 1st day of April, 2017.

2. In the Income-tax Rules, 1962, in Appendix II, in Form No. 3CEFA, in paragraph 2, under the heading "Eligible International Transaction"-

(I) in Sl. No. 3,-

(i) after item (d), following item shall be inserted, namely:-

"(e) Employee cost in relation to operating expense declared

 

";

(ii) the existing items (e), (f) and (g) shall be renumbered as (f), (g) and (h) respectively;

(II) in Sl. No. 4,-

(i) after item (d), the following items shall be inserted, namely:-

"(e) Currency of denomination of the amount of loan for each loan transaction

 

(f) Whether credit rating of AE has been done? If yes, the credit rating rank and the name of the credit rating agency

 

";

(ii) the existing items (e) and (f) shall be renumbered as (g) and (h) respectively;

(III) after Sl. No. 9, the following Sl. No. 10 and entities relating thereto shall be inserted, namely:-

Sl. No.
Particulars in respect of eligible international transaction
Remarks
"10.

Has the eligible assessee entered into any international transaction in respect of receipt of low value-adding intra-group services as referred to in item (x) of rule 10TC?

If yes, provide the following details:

(a) Name and address of the associated enterprises (AE) with whom the eligible international transaction has been entered into.

 

(b) Name of the country or territory in which AE (s) is located.

 

(c) Whether country or territory is a no tax or low tax country or territory as defined in rule 10TA.

 

(d) Description of the eligible international transaction

 

(e) Amount paid or payable in relation to such transaction

 

(f) Mark-up charged in per cent.

 

(g) Whether transfer price is in accordance with the circumstances specified under rule 10TD.

 
";

Yes No

   

[F. No. 370142/ 20/2017-TPL]

(Rajesh Kumar Kedia)
Director
(Tax Policy and Legislation)

Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) vide number S.O. 969(E) dated the 26th March, 1962 and were last amended vide notification number G.S.R. 865(E), dated the 12th July, 2017.

 
 
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI TII
  • DTAAs
  • TIEAs
  • Circulars
  • Circulars (I-T Act, 1922)
  • Instructions
  • Notifications
  • Administrative Orders
  • DRP Panel
  • I-T Act, 1961
  • Relevant Portion of I-T Rules,1962
  • Relevant Portion of I-T Act,1922
  • GAAR
  • Equalisation Levy
  • Draft Guidelines
  • Committee Reports
  • FATCA
  • Intl-Taxation
  • Finance Acts
  • Manual on EoI
  • DTC Bill
  • UN Model
  • Miscellaneous
  • Guidance Notes - AEOI
  • OECD Conventions
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • Draft Notifications
  • Circulars
  • Instructions
  • Notifications
  • Relevant Sections of Act
  • TP Rules
  • Forms
  • Miscellaneous
  • APA Annual Report
  • APA Rules
  • APA FAQ
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act
  • Exchange Manual
  • Fema Notifications
  • Master Circulars
  • Press Notes
  • Rules
  • RBI Circulars
  • FDI Circulars
  • Reports
  • FDI Approved
  • RBI Other Notifications
  • FIPB Review
  • Black Money Act
  • PMLA Notification
  • PMLA Instruction
  • PMLA Bill
  • FM Budget Speeches
  • SEBI
  • Multimodal Transportation
  • Vienna Convention
  • NBFC Reports
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • Intellectual Property
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • CBR Act, 1963
  • MCA Circular
  • Book Review
  • Limitation Act
  • SSAs
  • EPFO
  • FAQs
  • Acts
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifcations
  • Types of Visa
  • Agreements
  • Arbitration
  • Model Text
  • Relevant Portion of I-T Act
  • Circulars
  • I-T Rules, 1962
  • MISC
  • Notification
  • About Us
  • Contact Us
  •  
     
    A Taxindiaonline Website. Copyright © 2010-2018 Taxindiainternational.com Pvt.Ltd. All rights reserved.