Income Tax - Transfer Pricing - Prescribing a Proforma for Obtaining Information – Suggestions AGAIN Invited from Officers
INFORMATION on tax matters is being sought from all countries/jurisdictions with which India has Double Taxation Avoidance Agreement (DTAA) or Tax Information Exchange Agreement (TIEA) under the relevant 'Exchange of Information' Article of DTAA/TIEA. The above information is being obtained in a prescribed proforma.
Considering the developments at International Forums, a need to change the existing proforma was felt. Suggestions were invited for changes to the existing proforma alongwith a separate proforma for obtaining any information relating to Transfer Pricing.
Suggestions were invited on or before 15th December 2011 vide letter dated 21st November 2011. ( -22.11.2011)
However, the suggestions have not been received till date.
So, Chief Commissioners of Income Tax and DGITs are reminded to send their suggestions on an urgent basis, as the matter is of long-term significance and involves huge revenue implications. Now, they want suggestions by 15th January 2012.
In case, the CCs and DGs have forgotten about the communication, a copy of the earlier letter dated 21st November 2011 is also sent.