{"id":98943,"date":"2017-06-20T18:23:09","date_gmt":"2017-06-20T18:23:09","guid":{"rendered":"http:\/\/punjabpost.in\/welcome\/?p=98943"},"modified":"2017-06-20T18:23:09","modified_gmt":"2017-06-20T18:23:09","slug":"cbdt-notifies-rule-10cb-secondary-adjustments-section-92ce-act-1961","status":"publish","type":"post","link":"https:\/\/punjabpost.in\/welcome\/98943","title":{"rendered":"CBDT Notifies Rule 10CB for Secondary Adjustments under Section 92CE of IT Act, 1961"},"content":{"rendered":"<p style=\"text-align: justify;\">New Delhi, June 20 (Punjab Post Bureau) &#8211; Rule 10CB for operationalising the provisions of secondary adjustment has been notified by the <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-70107\" src=\"https:\/\/punjabpost.in\/welcome\/wp-content\/uploads\/2016\/08\/Income-Tax.jpg\" alt=\"Income Tax\" width=\"291\" height=\"218\" \/>Central Board of Direct Taxes on 15th June, 2017. It prescribes the time limit for repatriation of excess money and the rate of interest to be applied for computing the income in case of failure to repatriate the excess money within the prescribed time limit. Separate rates of interest have been provided for international transactions denominated in Indian currency and in foreign currency. The rates of interest are applicable on an annual basis.<\/p>\n<p style=\"text-align: justify;\">\u00a0The time limit of 90 days for repatriation of excess money shall begin only when the primary adjustments exceeding Rupees One Crore made in respect of Assessment Year 2017-18 or later, attains finality. Where the transfer pricing order is appealed against by the taxpayer, the time limit for repatriation shall commence only after the appeal is finalised by the appellate authority.<\/p>\n<p style=\"text-align: justify;\">\u00a0The rule is available on the website of the Income-tax Department (<a href=\"http:\/\/www.incometaxindia.gov.in\/\">www.incometaxindia.gov.in<\/a>)<\/p>\n<p style=\"text-align: justify;\">\u00a0The Finance Act, 2017 inserted section 92CE in the Income-tax Act, 1961 with effect from 1st April, 2018 to provide for secondary adjustment by attributing income to the excess money lying in the hands of the associated enterprise, in order to make the actual allocation of funds consistent with that of the primary transfer pricing adjustment.\u00a0 The provision shall apply to primary adjustments exceeding Rupees One Crore made in respect of Assessment Year 2017-18 onwards.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi, June 20 (Punjab Post Bureau) &#8211; Rule 10CB for operationalising the provisions of secondary adjustment has been notified by the Central Board of Direct Taxes on 15th June, 2017. It prescribes the time limit for repatriation of excess money and the rate of interest to be applied for computing the income in case &hellip;<\/p>\n","protected":false},"author":1,"featured_media":70107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-98943","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-english"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBDT Notifies Rule 10CB for Secondary Adjustments under Section 92CE of IT Act, 1961 | Punjab Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/punjabpost.in\/welcome\/98943\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBDT Notifies Rule 10CB for Secondary Adjustments under Section 92CE of IT Act, 1961 | Punjab Post\" \/>\n<meta property=\"og:description\" content=\"New Delhi, June 20 (Punjab Post Bureau) &#8211; Rule 10CB for operationalising the provisions of secondary adjustment has been notified by the Central Board of Direct Taxes on 15th June, 2017. 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