https://www.taxtmi.com/circulars?id=54545 The draft rules prescribe computation of fair market value of Indian and global assets for indirect transfer provisions using observable market prices or valuation reports by merchant bankers/accountants with internationally accepted methodologies, add back liabilities, and require exchange conversion at telegraphic transfer buying rates. An apportionment formula attributes transfer income to Indian assets by the ratio of FMV of Indian assets to total FMV; failure to furnish necessary information results in full attribution to Indian assets. Transferors must furnish a certified apportionment report (Form 3CT) and Indian concerns must file detailed information electronically in Form 49D and retain supporting records for eight years. en-us Mon, 23 May 2016 00:00:00 +0530 Thu, 31 Jul 2025 18:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54545 The draft rules prescribe computation of fair market value of Indian and global assets for indirect transfer provisions using observable market prices or valuation reports by merchant bankers/accountants with internationally accepted methodologies, add back liabilities, and require exchange conversion at telegraphic transfer buying rates. An apportionment formula attributes transfer income to Indian assets by the ratio of FMV of Indian assets to total FMV; failure to furnish necessary information results in full attribution to Indian assets. Transferors must furnish a certified apportionment report (Form 3CT) and Indian concerns must file detailed information electronically in Form 49D and retain supporting records for eight years. Circulars Income Tax Mon, 23 May 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54545