Extension of time limit to Transfer Pricing Officer (TPO) in certain cases to 60 days if the time available to the TPO for making an order is less than 60 days : Budget 2016

It is proposed to amend sub-section (3A) of section 92CA to provide that in following situations, if the time available to the TPO for making an order after excluding the time for which assessment proceedings were stayed or the time taken for receipt of information, as the case may be, is less than 60 days, then such remaining period shall be extended to 60 days.where assessment proceedings are stayed by any court orwhere a reference for exchange of information has been made by the competent authority,The amendment will take effect from 1st day of June, 2016.

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