The Central Board of Direct Taxes released amendments to the transfer pricing guidelines on 4 February 2015. The “simplified” transfer pricing documentation rules were released by a notification dated 4 February 2015 for domestic transactions of electric companies owned by the government.
In case of all international transactions and specified domestic transactions undertaken after 1 April 2014 having more than one comparable price, the arm’s length price shall be determined based on the interquartile range as required by the 2014 Budget Bill.
