Daily Archives: April 3, 2026

RULE 127 INCOME-TAX RULES 2026 Determination of consequences of impermissible avoidance arrangement. 127. For the purposes of section 181, where a part of an arrangement is declared to be an impermissible avoidance arrangement, the consequences in relation to tax shall be determined with reference to such part only.   ********************************************* Read more Income Tax Act 2025… Read More »

RULE 126 INCOME-TAX RULES 2026 RULE 126 INCOME-TAX RULES 2026 Conditions and activities for finance company located in any International Financial Services Centre for section 177. 126. (1) For the purposes of section 177(7)(b), the finance company located in any International Financial Services Centre shall only carry out one or more of the following activities, namely:—… Read More »

RULE 117 INCOME-TAX RULES 2026 RULE 117 INCOME-TAX RULES 2026 Procedure for giving effect to rollback provision of an Agreement. 117. (1) The effect to the rollback provisions of an agreement shall be given in accordance with this rule. (2) The applicant shall furnish modified return of income referred to in section 169 in respect of… Read More »

RULE 114 INCOME-TAX RULES 2026 RULE 114 INCOME-TAX RULES 2026 Compliance audit of agreement. 114. (1) The Transfer Pricing Officer in respect of arms’ length price and having the jurisdiction over the assessee shall carry out the compliance audit of the agreement for each of the year covered in the agreement. (2) For the purposes of… Read More »

RULE 112 INCOME-TAX RULES 2026 Amendments to application. 112. (1) An applicant may request in writing for an amendment to an application at any stage, before the finalisation of the terms of the agreement. (2) The Principal Chief Commissioner of Income-tax (International Taxation) (for unilateral agreement) or the competent authority of India (for bilateral or multilateral… Read More »

RULE 111 INCOME-TAX RULES 2026 RULE 111 INCOME-TAX RULES 2026 Roll back of Agreement. 111. (1) Subject to the provisions of this rule, the agreement may provide for determining the arm’s length price in relation to an international transaction, or specify the manner in which such arm’s length price shall be determined during the rollback year… Read More »

RULE 110 INCOME-TAX RULES 2026 RULE 110 INCOME-TAX RULES 2026 Terms of the agreement. 110. (1) An agreement may among other things, include— (a) the international transactions covered by the agreement; (b) the agreed transfer pricing methodology, if any; (c) determination of arm’s length price, if any; (d) the manner in which the arm’s length price… Read More »