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of <h1>Amendment to Notification 50/2003 Redefines Roles and Jurisdictions of Transfer Pricing Officers under Income-tax Act, 1961.</h1> The Central Board of Direct Taxes has amended notification 50/2003 concerning the definition of Transfer Pricing Officers under the Income-tax Act, 1961. The updated notification specifies the roles and jurisdictions of Transfer Pricing Officers across various cities, including Delhi, Mumbai, Bangalore, Hyderabad, Kolkata, and Chennai. Each city is assigned specific officers such as Joint Commissioners and Deputy or Assistant Commissioners of Income-tax, categorized under different Transfer Pricing Officer positions. This amendment aims to clarify and redefine the responsibilities and organizational structure of Transfer Pricing Officers within the specified regions.
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