We are pleased to share with you our recent publication on – ‘No change in Tolerance-range for AY 2024-25; 1% for wholesale traders & 3% for others.’

Ministry of Finance vide Notification 116/2024 dated Oct 18, 2024 provides the tolerance range for AY 2024-25 u/s. 92C at 1% for wholesale traders and 3% for all other taxpayers; Notifies that ALP condition is satisfied where variation between ALP and transaction price does not exceed 1%/ 3% of price at which international transaction/ specified domestic transaction has been undertaken; Continuing the definition of ‘wholesale trading’ in this context as the same as previous years, the notification also clarifies that ‘none will be adversely affected by the retrospective effect being given to the notification’.


We trust you find the same useful.
 

Outsourcing and Third-Party Risk Management.pdf