Search Results For: 10AA


QUERY: The Finance Act, 2012 had introduced an amendment that transfer pricing provisions will apply to Specified Domestic Transactions (SDT) if the aggregate value of such transactions exceeds Rs. 5/- crores. What would the term refer to here? Is it possible to argue that if no value is recorded for a transaction in the books of accounts, it will not attract the TP provisions?
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S. 92BA has been inserted by the Finance Act, 2012 with effect from April 01, 2013 which reads as under:

Meaning of specified domestic transaction

‘92BA. For the purposes of this section and sections 92,

QUERY: For the purpose of section 44AD, is the limit to be decided qua assessee or qua business?
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Qua both. The scheme is applicable to “an eligible assessee engaged in eligible business” The salient features of the new presumptive taxation scheme are as under:

a) The scheme is applicable to individuals, HUFs and partnership firms excluding limited liability partnership firms. It is also not be applicable to an assessee who is availing deduction under sections 10A,