notification 41 date of issue 10/6/2013 notification 41 date of issue 10/6/2013

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Notification New Delhi, the 10th June, 2013 INCOME-TAX S.O 1491 (E) In exercise of the powers conferred by sub-sections (1) and (2) of section 92C, section 92D and section 92E read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1). These rules may be called the Income-tax (Sixth Amendment) Rules, 2013. (2). They shall be deemed to have come into force with effect from the 1st day of April, 2013. 2. In rule 10A of the Income-tax Rules, 1962 (hereafter referred to as the principal rules), - (i) for the figures and letter “10B”, the figures and letters “10AB” shall be substituted; (ii) the clause (a) shall be renumbered as clause (ab) and before the clause as so renumbered, the following clauses shall be inserted, namely: - ‘(a) “associated enterprise" shall,- (i) have the same meaning as assigned to it in section 92A; and (ii) in relation to a specified domestic transaction entered into by an assessee, include --- (A) the persons referred to in clause (b) of sub-section (2) of section 40A in respect of a transaction referred to in clause (a) of sub-section (2) of the said section; (B) other units or undertakings or businesses of such assessee in respect of a transaction referred to in section 80A or, as the case may be, sub- section (8) of section 80-IA; (C) any other person referred to in sub-section (10) of section 80-IA in respect of a transaction referred to therein; (D) other units, undertakings, enterprises or business of such assessee, or other person referred to in sub-section (10) of section 80-IA, as the case may be, in respect of a transaction referred to in section 10AA or the transactions referred to in Chapter VI-A to which the provisions of sub-section (8) or, as the case may be, the provisions of sub-section (10) of section 80-IA are applicable; (aa) “enterprise” shall have the same meaning as assigned to it in clause (iii) of section 92F and shall, for the purposes of a specified domestic transaction, include a unit, or an enterprise, or an undertaking or a business of a person who undertakes such transaction;’. 3. In rule 10AB of the principal rules, after the words “international transaction”, the words “or a specified domestic transaction” shall be inserted. 4. In rule 10B of the principal rules, - (i) for the words “an international transaction”, wherever they occur, the words “an international transaction or a specified domestic transaction” shall be substituted; (ii) for the words “the international transaction”, wherever they occur, the words “the international transaction or the specified domestic transaction” shall be substituted; (iii) for the words “international transactions”, wherever they occur, the words “international transactions or specified domestic transactions” shall be substituted; (iv) in sub-rule (1), in clause (d), in the proviso, for the words “type of international transaction”, the words “type of international transaction or specified domestic transaction” shall be substituted. 5. In rule 10C of the principal rules, - (i) in sub-rule (1),- (a) for the words “particular international transaction”, the words “particular international transaction or specified domestic transaction” shall be substituted; (b) after the words “in relation to the international transaction”, the words “or the specified domestic transaction, as the case may be” shall be inserted. (ii) in sub-rule (2), for the words “the international transaction”, wherever they occur, the words “the international transaction or the specified domestic transaction” shall be substituted. 6. In rule 10D of the principal rules, - (i) for the words “the international transaction”, wherever they occur, the words “the international transaction or the specified domestic transaction” shall be substituted; (ii) for the words “an international transaction”, wherever they occur, the words “an international transaction or a specified domestic transaction” shall be substituted; (iii) in sub-rule (1),- (a) in clause (b), after the words “with whom international transactions”, the words “or specified domestic transactions, as the case may be,” shall be inserted; (b) in clause (d), after the words “international transactions”, the words “or specified domestic transactions” shall be inserted; (c) in clause (f), after the words “ the international transactions”, the words “or the specified domestic transactions” shall be inserted; (d) in clause (g),− (I) after the words “comparability with the international transactions”, the words “or the specified domestic transactions” shall be inserted; (II) after the words “pricing of the international transactions” occurring at the end, the words “or specified domestic transactions, as the case may be” shall be inserted; (e) in clauses (h) and (i),for the words “international transaction”, the words “international transaction or specified domestic transaction” shall respectively be substituted; (iv) in sub-rule (2), for the words, brackets and figure “Nothing contained in sub- rule (1) shall”, the words, brackets and figure “Nothing contained in sub-rule (1), in so far as it relates to an international transaction, shall” shall be substituted; (v) in sub-rule (3), in clause (e), after the words “international transactions”, the words “or the specified domestic transactions, as the case may be” shall be inserted; (vi) in sub-rule(4), in the proviso, after the words “terms of the international transaction”, the words “or the specified domestic transaction, as the case may be” shall be inserted. 7. In rule 10E of the principal rules, after the words “international transaction”, the words “ or a specified domestic transaction” shall be inserted; 8. In Appendix-II of the principal rules, for Form No.3 CEB, the following Form shall be substituted, namely: - “FORM NO. 3CEB [See rule 10E] Report from an accountant to be furnished under section 92E relating to international transaction(s) and specified domestic transaction(s) 1. *I/We have examined the accounts and records of ______________________________________ (name and address of the assessee with PAN) relating to the international transaction (s) and the specified domestic transaction(s) entered into by the assessee during the previous year ending on 31st March, . 2. In*my/our opinion proper information and documents as are prescribed have been kept by the assessee in respect of the international transaction(s) and the specified domestic transactions entered into so far as appears from *my/our examination of the records of the assessee. 3. The particulars required to be furnished under section 92E are given in the Annexure to this Form. In*my/our opinion and to the best of my/our information and according to the explanations given to *me/us, the particulars given in the Annexure are true and correct. **Signed : Name Address : Membership No. : Place : ____________ Date : ___________ Notes : 1. *Delete whichever is not applicable. 2. **This report has to be signed by— (i) a chartered accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949); or (ii) any person who, in relation to any State, is, by virtue of the provisions in sub-section (2) of section 226 of the Companies Act, 1956 (1 of 1956), entitled to be appointed to act as an auditor of companies registered in that State. ANNEXURE TO FORM NO. 3CEB Particulars relating to international transactions and specified domestic transactions required to be furnished under section 92E of the Income-tax Act, 1961 PART A 1. Name of the assessee 2. Address 3. Permanent account number 4. Nature of business or activities of the assessee* 5. Status 6. Previous year ended 7. Assessment year 8. Aggregate value of international transactions as per books of accounts 9. Aggregate value of specified domestic transactions as per books of accounts * Code for nature of business to be filled in as per instructions for filling Form ITR 6 PART B (International Transactions) 10. List of associated enterprises with whom the assessee has entered into international transactions, with the following details : (a) Name of the associated enterprise. (b) Nature of the relationship with the associated enterprise as referred to in section 92A(2). (c) Brief description of the business carried on by the associated enterprise 11. Particulars in respect of transactions in tangible property. A. Has the assessee entered into any international transaction(s) in respect of purchase/sale of raw material, consumables or any other supplies for assembling or processing/manufacturing of goods or articles from/to associated enterprises? If ‘yes’, provide the following details in respect of each associated enterprise and each transaction or class of transaction : (a) Name and address of the associated enterprise with whom the international transaction has been entered into. (b) Description of transaction and quantity purchased/sold. (c) Total amount paid/received or payable/receivable in the transaction— (i) as per books of account; (ii) as computed by the assessee having regard to the arm’s length price. (d) Method used for determining the arm’s length price [See section 92C(1)] B. Has the assessee entered into any international transaction(s) in respect of purchase/sale of traded/finished goods? If ‘yes’ provide the following details in respect of each associated enterprise and each transaction or class of transaction :