Penalty for failure to furnish transfer pricing information may require payment based on the value of the transaction. If any person who has entered into an international transaction or specified domestic transaction fails to furnish any such information or document as ... Summary
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Penalty for failure to furnish transfer pricing information may require payment based on the value of the transaction.
If any person who has entered into an international transaction or specified domestic transaction fails to furnish any such information or document as required by sub section (3) of section 92D, the Assessing Officer or the Transfer Pricing Officer or the Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum equal to two per cent of the value of the international transaction or specified domestic transaction for each such failure.
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