Transfer pricing is a valuing the transactions between associated enterprises at an arm’s length Price. Transfer Pricing regulations are required since there are:
This is the basic idea of International Transfer Pricing.
The Finance Act 2012, extends the scope of TP provision to ‘Specified Domestic Transactions’ between related parties w.e.f. 1 April 2012 commonly known as Domestic Transfer Pricing, whereby the transactions between related parties are also covered. This is to keep an eye on transactions between related parties whether or not taking place at arm’s length price.
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