International Tax Conference calls Union Budget 2017, a historic decision

ASHISH TIWARI (PHOTO/VIDEO SAURABH SHRIVASTAVA) TENNEWS

The Union budget 2017 has been a platform for several debuts. Among them, the introduction of the concept of secondary adjustment in the Indian tax millieu has managed to create an unparalleled buzz and under the extant transfer pricing regulations, an adjustment made by the tax officer to the arm’s length price (ALP) determined by the taxpayer for a transaction made with an associated enterprise (AE) would have resulted in tax inflow only for the Indian Revenue Authorities, was stated during the 14 International Tax Conference in New Delhi on Wednesday.

Speakers was of thought that, There was never a mandate or hardship caused in terms of realising the cash benefit, which India would have had the amount corresponding to the adjustment made been asked to be brought into India.