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Note on ambit of Arm's Length Pricing Principles under the Income Tax Act,1961, Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR')   Sep 03, 2020

Mr. Pradeep Ramakrishnan
General Manager – Corporate Finance Department
Securities and Exchange Board of India
Plot No.C4-A, 'G' Block
Bandra-Kurla Complex, Bandra (East)
Mumbai - 400051


Dear Sir,


Sub:  Note on ambit of Arm’s Length Pricing Principles under the Income Tax Act, 1961, Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR’).


This has reference to the webinar organised by the Bombay Chamber on Related Party Transactions on 21st August, 2020 in which you had provided SEBI perspective on the subject.  During the panel discussion, you had requested Mr. Parikshit Datta, Partner, Ernst & Young LLP to send a note to you on the ALP principles under the Income tax Act and how it can be of relevance for Regulation 23 of the SEBI LODR /Section 188 of the Companies Act, 2013.


Accordingly, the said note prepared by Mr. Parikshit Datta, perused by our President, Mr. Sudhir Kapadia and Mr. Bharat Vasani, Chairman of our Legal Affairs & IPR Committee, is enclosed herewith for your kind reference. Please also find attached the annexures referred in the said note viz. (a) Text of Rules 10A to 10CA of Income tax Rules (b) ICSI Guidance Note which recommends income tax TP methods and (c) ICAI Guidance Note on Transfer Pricing audit under Income tax Act.


A detailed representation on the issue is attached herewith for your kind consideration.

 

 SEBI - ALP Note  

 IT Rules 10A to 10CA  

 ICSI Guidance Note on RPTs  

 ICAI Guidance Note on Report under S.92E of ITA (TP)  

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