Transfer pricing penalties risk for failure to maintain or furnish documentation and country reporting obligations. Penalties for failure to maintain or furnish transfer pricing information under sections 92D(1)-(4) are imposed by section 271AA as a percentage of each ... Summary
Transfer pricing penalties risk for failure to maintain or furnish documentation and country reporting obligations.
Penalties for failure to maintain or furnish transfer pricing information under sections 92D(1)-(4) are imposed by section 271AA as a percentage of each international or specified domestic transaction; additional fixed penalties apply for failure to furnish Master File or report from a chartered accountant and section 270A(9) treats failure to report international transactions as misreporting of income with enhanced tax consequences.
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