SECTION 92C OF THE INCOME-TAX ACT, 1961 - TRANSFER
PRICING - COMPUTATION OF ARM’S LENGTH PRICE - NOTIFIED TOLERABLE LIMIT
FOR DETERMINATION OF ALP
NOTIFICATION NO. 30/2013 [F.NO.500/185/2011-FTD-I],
DATED 15-4-2013
In
exercise of the powers conferred by the second proviso to sub-section
(2) of section 92C of the Income Tax Act, 1961 (43 of 1961), the Central
Government hereby notifies that where the variation between the arm's
length price determined under section 92C and the price at which the
international transaction or specified domestic transaction has actually
been undertaken does not exceed one per cent of the latter for
wholesale traders and three per cent of the latter in all other cases,
the price at which the international transaction or specified domestic
transaction has actually been undertaken shall be deemed to be the arm's
length price for assessment year 2013-14.
