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of <h1>Income Tax and Customs Departments to Enhance Coordination on Transfer Pricing with Regular Meetings and Training Initiatives.</h1> The circular outlines the implementation of recommendations by a Joint Working Group on Transfer Pricing, involving officers from the Income Tax and Customs Departments. Key recommendations include enhanced cooperation and coordination between the departments through bi-monthly regional meetings and six-monthly higher-level meetings. Information exchange on specific cases is encouraged, with designated nodal officers in major cities. Training programs for officers in both departments are to be developed to enhance understanding of transfer pricing and customs valuation. Immediate implementation of these measures is mandated, with regular reporting and oversight by senior officials.
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