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July 2012

Notification No. 18/2012 (F. No. 142/5/2012- TPL), dated 23-5-2012 — Income-tax (6th Amendment) Rules, 2012 — Insertion of Rule 10AB.

By Pinky Shah, Sonalee Godbole, Chartered Accountants
Reading Time 1 mins
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For the purpose of computation of arm’s length price, section 92C(1) of the Act provided for five methods and the sixth method was ‘such other method as may be prescribed by the Board’.

 Rule 10AB is inserted to provide the ‘other method’. Rule 10AB shall come into force with effect from 1st April, 2012 and shall apply to A.Y. 2012-13 and subsequent years.

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