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of <h1>CAG Sets New Tax Effect Limits for Transfer Pricing Adjustments in 2015-16 Report; Details for Category 'A' and 'B' States.</h1> The Comptroller and Auditor General of India issued instructions regarding the floor limits of tax effects for individual draft paragraphs on transfer pricing. The Compliance Audit Report for 2014-15 included a chapter on transfer pricing, anticipating numerous cases annually. For the 2015-16 report and beyond, specific limits for short/excess adjustments by Transfer Pricing Officers were established: Rs. 2 crore for corporate assessees in Category 'A' states and Rs. 1 crore in Category 'B' states; Rs. 1 crore for non-corporate assessees in Category 'A' states and Rs. 50 lakh in Category 'B' states. All relevant cases and documents should be submitted via the OMNIDOCS system.
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