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of <h1>Guidelines for Computing Income from International Transactions Using Arm's Length Price: Roles of AO and TPO Explained.</h1> The circular outlines the procedures for computing income from international transactions under the Income-tax Act, focusing on the Arm's Length Price concept. It details the roles of the Assessing Officer (AO) and the Transfer Pricing Officer (TPO) in determining this price. The AO refers cases to the TPO when necessary, particularly for transactions exceeding Rs. 5 crore. The TPO evaluates the Arm's Length Price using prescribed methods, and the AO computes the taxpayer's income based on the TPO's findings. The circular emphasizes the importance of maintaining a database and ensuring procedural uniformity.
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