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TP Report

Transfer Pricing (TP) Report

A Transfer Pricing Report ensures that transactions between related entities comply with arm’s length principles as per tax regulations. Our experts prepare accurate, compliant reports to minimize risk and ensure smooth regulatory approvals.

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Overview

Transfer Pricing (TP) Report

Where any person in relation to its business activities has entered into an international transaction or specified domestic transaction in any financial year, then such person who has entered into international / specified domestic transaction have to obtain a report from the Chartered Accountant commonly known as Transfer Pricing Report in a form prescribed by the Income tax department which is to furnished electronically on or before 30th day of November of the assessment year by the Chartered Accountant for the concerned person.

FAQ

Frequently Asked Questions

What is a Transfer Pricing (TP) Report?
A Transfer Pricing Report is a certificate issued by a Chartered Accountant in Form 3CEB for businesses entering into international or specified domestic transactions under the Income Tax Act.
Who is required to file a TP Report?
Any person or company engaged in international transactions with associated enterprise or specified domestic transactions during a financial year must obtain and file a TP Report.
What is the due date for filing the TP Report?
The TP Report must be furnished electronically on or before 30th November of the relevant assessment year.
In which form is the Transfer Pricing Report filed?
The report is filed in Form 3CEB and must be certified by a practicing Chartered Accountant.
What are the consequences of not filing the TP Report?
Failure to file the TP Report may result in penalties under the Income Tax Act and increased scrutiny by the tax authorities.