Audit under section 92e

Can a assessee obtain an audit report under section 92e?

There is no exemption for such assessees in obtaining and furnishing audit report under section 92E of the Act

83 It requires to be mentioned that even in such cases, the onus lies on the assessee to substantiate that income arising from international transaction has been computed on the basis of arm’s length price

What is rule 10E - report from an accountant required under section 92e?

Rule 10E - Report from an accountant to be furnished under section 92E

The report from an accountant required to be furnished under section 92E by every person who has entered into an international transaction or the specified domestic transaction during a previous year shall be in Form No

3CEB and be verified in the manner indicated therein

What is section 92e report?

Guidance Note on Report under Section 92E of the Income-tax Act, 1961 282 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 ……………………

×Section 92E of the IT Act, 1961, stipulates that any person who enters into international transactions must furnish and obtain an audited financial report from a Chartered Accountant. The audit report is required to be furnished in Form 3CEB. The audit is applicable to both international and specified domestic transactions. The audit is a restricted examination of accounts and records of the taxpayer relating to the International Transaction or the Specified Domestic Transaction entered into by the taxpayer.,Under transfer pricing regulations, anyone who took part in an international transaction or certain domestic transactions in the pre…