{"id":7207,"date":"2015-05-28T16:05:00","date_gmt":"2015-05-28T16:05:00","guid":{"rendered":"http:\/\/localhost\/sccblog\/?p=7207"},"modified":"2015-10-29T10:46:59","modified_gmt":"2015-10-29T05:16:59","slug":"suggestions-sought-on-the-draft-scheme-of-the-proposed-amendment-for-computation-of-arm-length-price-in-the-income-tax-act","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2015\/05\/28\/suggestions-sought-on-the-draft-scheme-of-the-proposed-amendment-for-computation-of-arm-length-price-in-the-income-tax-act\/","title":{"rendered":"Suggestions sought on the draft scheme of the proposed amendment for Computation of Arm Length Price in the Income-tax Act"},"content":{"rendered":"<p style=\"text-align: justify;\"><span lang=\"EN-US\">On 22.05.2015, the Ministry of Finance uploaded the draft outlines of the new scheme of the Finance Act, 2014, which amended the provision of Income-tax Act relating to transfer pricing regime, on the website of the Finance Ministry (<a href=\"http:\/\/www.finmin.nic.in\/\">www.finmin.nic.in<\/a>) and website of the Income-tax Department (<a href=\"http:\/\/www.incometaxindia.gov.in\/\">www.incometaxindia.gov.in<\/a>) for comments from stakeholders and general public by 31.05.2015. The proposed amendment in Section 92C of the Income-tax Act facilitates introduction of \u201crange\u201d concept for determination of Arm\u2019s Length Price of an international transaction or a specified domestic transaction, and use of \u2018multiple year data\u2019 for comparability analysis of transfer pricing.<\/span><\/p>\n<p style=\"text-align: justify;\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p align=\"right\"><b><span lang=\"EN-US\">-Ministry of Finance<\/span><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 22.05.2015, the Ministry of Finance uploaded the draft outlines of the new scheme of the Finance Act, 2014, which amended the <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1193],"tags":[],"class_list":["post-7207","post","type-post","status-publish","format-standard","hentry","category-notifications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Suggestions sought on the draft scheme of the proposed amendment for Computation of Arm Length Price in the Income-tax Act | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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