Section 92CA of ITA, 1961 : Section 92Ca: Reference To Transfer Pricing Officer

ITA, 1961

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Explanation using Example

Imagine a scenario where an Indian software company, 'Tech Innovations Pvt. Ltd.' has entered into an agreement with a US-based company 'Global Tech Inc.' to provide software development services. The agreement stipulates that 'Tech Innovations Pvt. Ltd.' will bill 'Global Tech Inc.' on a cost-plus basis for services rendered. The Assessing Officer (AO) of the Indian tax authority, during a routine assessment, suspects that the profit margin applied by 'Tech Innovations Pvt. Ltd.' on the costs is lower than what would have been charged in a transaction between unrelated parties, potentially leading to a transfer of profits out ...

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