https://www.taxtmi.com/acts?id=12047 The Central Government may notify jurisdictions lacking effective exchange of information as notified jurisdictional areas; transactions with persons located there are treated as deemed international transactions with parties deemed associated enterprises, triggering transfer pricing provisions. Deductions for payments to financial institutions in such areas require a prescribed authorization to enable tax authorities to obtain information; other deductions require prescribed documentation. Unexplained receipts from persons in notified areas may be deemed the assessee's income, and payments to such persons attract enhanced withholding rates. en-us Wed, 02 Mar 2011 15:53:54 +0530 Sat, 07 Mar 2015 16:38:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12047 The Central Government may notify jurisdictions lacking effective exchange of information as notified jurisdictional areas; transactions with persons located there are treated as deemed international transactions with parties deemed associated enterprises, triggering transfer pricing provisions. Deductions for payments to financial institutions in such areas require a prescribed authorization to enable tax authorities to obtain information; other deductions require prescribed documentation. Unexplained receipts from persons in notified areas may be deemed the assessee's income, and payments to such persons attract enhanced withholding rates. Act-Rules Bills Wed, 02 Mar 2011 15:53:54 +0530 https://www.taxtmi.com/acts?id=12047