India: Transfer pricing documentation for certain electric companies

India: Transfer pricing documentation

The Central Board of Direct Taxes released updated guidelines providing “simplified” transfer pricing documentation rules for domestic transactions of electric companies owned by the government.

Related content

The recent guidelines (contained in a notification dated 4 February 2015) apply for certain specified domestic transactions of electric companies owned by the government. According, government-owned electric companies must follow these new rules—and not the otherwise mandatory documentation requirements under Rule 10D(1) of the Income-tax Rules, 1962—if engaged in the generation, transmission or distribution of electricity.

 

Read a February 2015 report [PDF 436 KB] prepared by the KPMG member firm in India: Safe harbour rules for transfer pricing documentation: Notified for specified domestic transactions of electricity companies run by the government

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Request for proposal

 

Submit

KPMG's new digital platform

KPMG International has created a state of the art digital platform that enhances your experience, optimized to discover new and related content.