[aaykarbhavan] CBDT Press Release Withdrawing / Amending Circulars On Transfer Pricing

Dear Subscriber,

CBDT Press Release Withdrawing / Amending Circulars On Transfer Pricing

The CBDT has issued a Press Release dated Nil stating that Circular No.2/2013 dated 26.03.2013 (Circular on application of profit split method) has been rescinded and that Circular No. 3 dated 26.03.2013 (Circular on conditions relevant to identify Development Centres engaged in contract R&D services with insignificant risk) has been amended and reissued with a view to clear all ambiguities in the matter.

 

Pursuant thereto Circular No. 05 /2013 [F. No. 500/139/2012-FTD-I], dated 29.06.2013 has been issued to withdraw Circular No.2/2013 dated 26.03.2013 and Circular No. 6 dated 29.06.2013 has been issued in place of Circular No. 3 dated 26.03.2013. In the new Circular No. 6 dated 29.06.2013, the CBDT has laid down guidelines for identifying Development Centres as a contract R&D service provider with insignificant risk for transfer pricing purposes.

(Click Here To Read More)

 

Regards,

 

Editor,

 

itatonline.org

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