CBDT notifies Tolerance Range for Transfer Pricing for A.Y 2024-25 as per proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962

CBDT notifies Tolerance Range for Transfer Pricing for A.Y 2024-25 as per proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962 https://www.taxtmi.com/news?id=28056 Notification establishes a tolerance range under the proviso to sub rule (7) of rule 10CA, Income tax Rules, 1962 for AY 2024 25, prescribing that where the variation between the determined arm's length price and the actual transaction price falls within the notified tolerance range, the actual price shall be deemed the arm's length price. It differentiates tolerance treatment for transactions characterised as wholesale trading and for other transactions, and defines "wholesale trading" by reference to objective criteria relating to purchase cost composition and the relationship between inventory and sales. en-us Tue, 29 Oct 2024 16:34:12 +0530 Tue, 29 Oct 2024 16:34:12 +0530 TaxTMI RSS Generator CBDT notifies Tolerance Range for Transfer Pricing for A.Y 2024-25 as per proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962 https://www.taxtmi.com/news?id=28056 Notification establishes a tolerance range under the proviso to sub rule (7) of rule 10CA, Income tax Rules, 1962 for AY 2024 25, prescribing that where the variation between the determined arm's length price and the actual transaction price falls within the notified tolerance range, the actual price shall be deemed the arm's length price. It differentiates tolerance treatment for transactions characterised as wholesale trading and for other transactions, and defines "wholesale trading" by reference to objective criteria relating to purchase cost composition and the relationship between inventory and sales. News - Tue, 29 Oct 2024 16:34:12 +0530 https://www.taxtmi.com/news?id=28056