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Section 92D

Maintenance, keeping and furnishing of information and document by certain persons.   The Section 92D of the Income Tax Act, 1961, requires that every person who has entered into an international transaction or specified domestic transaction shall keep and maintain such information and document in respect of such transactions which are prescribed by the department … Continue reading “Section 92D”

Concept of Indexation

Concept of Indexation   Changes in the value of asset according to your living cost is called indexation. The benefit of indexation is available only to long-term capital assets. For computation of indexed cost of acquisition following factors are to be considered: Cost and Year of acquisition &/or improvement Year of transfer Cost inflation index … Continue reading “Concept of Indexation”

Meaning of Associate Enterprise in Transfer pricing

What is the meaning of the term Associated Enterprise (AE)?   The provisions of transfer pricing will apply only if the transactions happen to between the Associated Enterprises (AE). The term Associated Enterprises is specifically defined by the Income Tax act, 1961 in Section 92A. The definition explains various scenarios when an organization happens to … Continue reading “Meaning of Associate Enterprise in Transfer pricing”

Transfer Pricing – Section 92

Transfer Pricing – Section 92   What is Transfer Pricing? Transfer pricing is the related to determining the value of goods & services exchanged or transferred between two related parties or related parties situated in other countries. The purpose of transfer pricing is to ensure that the price determined in the following transaction should be … Continue reading “Transfer Pricing – Section 92”

Capital Gains in case of Joint development agreements Section 45(5A)

Capital Gains in case of Joint development agreements – Section 45(5A)   It is a common procedure nowadays and a win-win situation for both the parties i.e., the land owner and the developer to enter into Joint Development Agreement. Herein, the resources and the efforts of the landowner and the developer are combined together so as … Continue reading “Capital Gains in case of Joint development agreements Section 45(5A)”

Capital Gains in case of Compulsory Acquisition of an asset Section 45(5)

Capital Gains in case of Compulsory Acquisition of an asset Section 45(5)   What is compulsory acquisition? Compulsory acquisition means, where the government acquires rights in the land, property from an individual or business in order to benefit society such as constructing roads, rails, metros, infrastructure etc.   With reference to Section 45(5) In some … Continue reading “Capital Gains in case of Compulsory Acquisition of an asset Section 45(5)”

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