Income-tax (sixth Amendment) Rules, 2012 - Insertion of rule 10AB
Notification No. 18/2012 [F. No. 142/5/2012-TPL], dated 23-5-2012
In exercise of the powers conferred by section 295 of the
Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes
hereby makes the following rules further to amend the Income-tax Rules,
1962 namely:-
1. (1) These rules may be called the Income-tax (6th Amendment) Rules, 2012.
(2) They shall come into force on the 1st day of April, 2012 and shall apply to Assessment year 2012-13 and subsequent years.
2. In the Income-tax Rules, 1962 (hereinafter
referred to as the said rules), after rules 10A, the following rule
shall be inserted, namely:-
"Other method of determination of arm's length price
10AB. For the purposes of clause (f) of
sub-section (1) of section 92C, the other method for determination of
the arms' length price in relation to an international transaction shall
be any method which takes into account the price which has been charged
or paid, or would have been charged or paid, for the same or similar
uncontrolled transaction, with or between non-associated enterprises,
under similar circumstances, considering all the relevant facts."
3. In rule 10B of the said rules, in sub-rule (1) after clause (e), the following clause shall be inserted, namely:-
"(f) Any other method as provided in rule 10AB."
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