Transfer pricing reference rules govern arm's length price determination, later-year application, and scheme-based administration. Reference may be made by the Assessing Officer, with prior approval, to the Transfer Pricing Officer for computation of arm's length price in relation to ... Summary
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Transfer pricing reference rules govern arm's length price determination, later-year application, and scheme-based administration.
Reference may be made by the Assessing Officer, with prior approval, to the Transfer Pricing Officer for computation of arm's length price in relation to an international transaction or specified domestic transaction. The Transfer Pricing Officer must issue notice, consider evidence and relevant material, and determine the arm's length price by written order, which is to be followed by the Assessing Officer. The section also provides for similar transactions in later years on exercise of a prescribed option, rectification of mistakes, exercise of inquiry powers, and a government scheme for efficient, transparent, and accountable transfer pricing determination.
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