Dear All,
Please clarify Domestic Transfer pricing is applicable from which Financial Year and due date of fiilling of Incometax return of the DTP concers.
what are the consequences for DTP and if there is any circular or Notification please give the information.
Regards,
Krishna.B
Domestic Transfer Pricing and GAAR: Insights on Sections 40A and 10AA for Income Tax Returns A user inquired about the applicability of Domestic Transfer Pricing (DTP) and its implications for income tax returns. A respondent clarified that GAAR, under Chapter XA, applies from the assessment year 2014-15, but there might be changes due to public concern. The user further queried about the sections under which Transfer Pricing falls, specifically Sections 40A and 10AA, and its relation to GAAR provisions. The respondent noted that Section 40A is not new, having been applicable since April 1968. (AI Summary)
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