CBDT gearing up to implement TP provisions to domestic companies

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CBDT gearing up to implement TP provisions to domestic companies By TII News Service May 28, 2012 , New Delhi
WITH the Finance Bill, 2012, about to be assented by the President, the Income Tax TP Directorate is also gearing up to mop up significant revenue by invoking TP provisons to domestic companies. An internal target in the range of 2500 Cr has been fixed. Starting with Rs 1500 Cr in the fisc 2007-08, the revenue adjustment went up to Rs 44000 Cr last fiscal. Some of the key sectors, which are likely to be affected by the new TP provisions are Infrastructure, real estate, FMCG, Pharma, telecom, energy and software.

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