Computation of arm's length price - tolerance limit of 1% in case of wholesale trading and 3% in other cases notified - U/s 92C(2) of IT Act 1961.

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..... e of the powers conferred by the third proviso to sub-section (2) of section 92C of the Income-tax Act, 1961 (43 of 1961) (hereafter referred to as the said Act) read with proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962 , the Central Government hereby notifies that where the variation between the arm s length price determined under section 92C of the said Act and the pr .....

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..... ng inventory of such goods is ten per cent. or less of sales pertaining to such trading activities. [F. No. 500/1/2014-APA-II] Dr. VIJIT PATEL, Under Secy. Explanatory Memorandum The notification provides for tolerance range of one per cent. for wholesale trading and three per cent. in all other cases for assessment year 2023-2024. It is certified that none will be adversely affe .....

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