If you have foreign subsidiaries in India, it might be of interest to know that there has been recently imposed an additional tax burden onto the employers.This extra tax burden is called Fringe Benefit Tax. It was implemented on April 2005 by Finance Minister P Chidambaram.
The rationale for implementing this tax on the employer […]

This article is to share with you the procedures to set up branches in India.
Basic reasons for setting up branches in India:
Setting up branches in various states of India is inevitable as it is a very vast country. If you situate your head quarter in say Bangalore ( presently the silicon valley of India) which […]

Indian Financial Accounting Standards (Updated: 24th March, 2006)
T.N. Manoharan who took over as President of ICAI (Institute of Chartered Accountants of India) quotes that ICAI is in the midst of getting out the following new accounting standards:

on a more immediate concern to get out the accounting standards on presentation of financial statements (equivalent to […]

a) Comparable Uncontrolled Price (CUP):- This method seeks to determine the ALP by comparing the controlled transaction with the uncontrolled transaction in relation to property transferred or services provided. This method is basically applied to concerns engaged in the manufacturing and selling of the product and hence to be applied to manufacturers.
Typical transactions in respect […]

What we have below

are the terms and definitions used in Transfer Pricing.
the relevant acts pertaining to Transfer Pricing in India.
a sample report from an accountant to be furnished under Section 92E

Transfer Pricing Regulations: are applicable to all enterprises that enter into an “International Transaction” with an “Associated Enterprise“. The objective is to arrive at a […]