Newsflash: Income Tax - Secondary Adjustments in Transfer Pricing

Recently, the Central Board of Direct Taxes (CBDT) has issued rules to support the implementation of Secondary Adjustments in Transfer Pricing by prescribing the time limit for repatriation and method for computing interest on excess money. While generally providing a 90-day time limit for repatriation, the rules require charging an annual interest beyond the prescribed period. The provisions of secondary adjustment shall be applicable to primary adjustments exceeding Rs 1 crore made in respect of AY 2017-18 and onwards.

This newsflash summarizes the key provisions of the rules and we trust you will find the same useful.

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