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of <h1>Amendments to Section 92 of the Income-tax Act Include Specified Domestic Transactions, Effective April 1, 2013, for Arm's Length Pricing.</h1> Clause 33 of the Finance Bill, 2012 proposes amendments to section 92 of the Income-tax Act, effective April 1, 2013. The amendments expand the scope of section 92 to include 'specified domestic transactions' alongside 'international transactions.' A new sub-section (2A) is introduced to ensure that allowances, costs, expenses, or income related to specified domestic transactions are computed at arm's length price. Additionally, sub-sections (2) and (3) are revised to incorporate specified domestic transactions, thereby applying the arm's length principle to both international and specified domestic transactions for assessment year 2013-2014 onwards.
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