The Central Board of Direct Taxes (CBDT) vide Notification No. 33/2018/F.No. 370142/9/2018-TPL dated 20 July 2018 has amended the Income-tax Rules, 1962 (the Rules), under the powers conferred by section 44AB read with section 295 of the Income-tax Act, 1961 (the Act). Following are key new reporting requirements incorporated in Form no. 3CD and the same are effective from 20 August 2018:  .....

The CBDT has issued the Final Notification No. 29/2018 dated 22 June 2018 (applicable from AY 2017-18) for exception, modification and adaptation in respect of a foreign company said to be resident in India due to its place of effective management (POEM) being in India, under Section 115JH of the Income-tax Act, 1961 (the Act). This is on the similar lines of the draft notification. To read our ta.....

CBDT notifies Final Rules with respect to Master File and Country-by-Country report (Notification No. 92/2017)   The CBDT vide Notification No. 92/2017 on October 31, 2017 issued Final Rules (Rule 10DA and 10DB) in respect of keeping, maintaining and furnishing information and documents with respect to Master File and Country-by-Country report (CbCR), as per section 92D and section 286 .....

The Central Board of Direct Taxes (CBDT) on June 15, 2017 issued a Draft Notification (notification) vide F No. 370142/19/2017-TPL for exception, modification and adaptation in respect of foreign company said to be resident in India due to the place of effective management (POEM) being in India, under Section 115JH of the Income-tax Act, 1961 (the Act). This notification shall be deemed to ha.....

The Central Board of Direct Tax (CBDT) after receiving queries from various stakeholders has issued Circular no. 41 of 2016 providing clarification relating to Indirect Transfer [Section 9(1)(i) of the Income-tax Act, 1961 (the Act)]   Indirect Transfer [Section 9(1)(i)] Section 9(1)(i) was amended vide Finance Act, 2012 w.r.e.f. 01.04.1962, by.....

The Central Board of Direct Taxes (CBDT) has issued a very important instruction (Instruction No. 15/2015, dated: October 16, 2015) on the procedure for transfer pricing assessments/audits for international transactions. These instructions will have a far reaching effect on the methodology to be adopted for making reference to the Transfer Pricing Officer (TPO) by the Assessing Officer (AO) and ot.....