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of <h1>New Arm's Length Price Rules: 1% Variation for Wholesale, 3% for Others u/s 92C for 2020-2021.</h1> The Central Government, under Notification No. 83/2020, specifies that for the assessment year 2020-2021, if the variation between the arm's length price determined under section 92C of the Income-tax Act, 1961, and the actual transaction price does not exceed one percent for wholesale trading and three percent for other cases, the transaction price will be considered the arm's length price. Wholesale trading is defined as transactions where the purchase cost of finished goods is at least eighty percent of total costs, and average monthly closing inventory is ten percent or less of sales.
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