Circular No. 500/54/2012-FTD.I

Reconstitution of Advisory Group for International Taxation and Transfer Pricing in Department of Revenue, Ministry of Finance

What this is

Circular No. 500/54/2012-FTD.I was issued by the Central Board of Direct Taxes on 3 May 2012. Its subject is Reconstitution of Advisory Group for International Taxation and Transfer Pricing in Department of Revenue, Ministry of Finance.

This amends the Income-tax Rules. What it changes is the Rules, not the Act — and a rule can never take away what the section gives.

What it does

Reconstitutes the Advisory Group for International Taxation and Transfer Pricing in the Department of Revenue, in continuation of the earlier office memorandum of 22 March 2012. The Group is headed by the Revenue Secretary and includes the Chairman of the Central Board of Direct Taxes, the Director General of Income-tax (International Taxation), the Joint Secretaries in the Foreign Tax and Tax Research Division and Tax Policy and Legislation, with the Joint Secretary (FT&TR-I) as Member Secretary, together with representatives named from NASSCOM, the Confederation of Indian Industry, FICCI, ASSOCHAM, the Institute of Chartered Accountants of India, the International Fiscal Association India branch and the International Chamber of Commerce India.

Why it was issued

The composition of the advisory group set up by the earlier office memorandum was being settled, with the approval of the competent authority.

Who it reaches

Industry and professional bodies represented on the group
Officers of the Foreign Tax and Tax Research Division servicing it
Taxpayers whose international taxation and transfer pricing concerns are routed through these bodies

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

ReConstitution of ADVISORY GROUP FOR INTERNATIONAL TAXATION AND TRANSFER Pricing in DEPARTMENT OF REVENUE, MINISTRY OF FINANCE
Office Memorandum [F.No. 500/54/2012-FTD.I], dated 3-5-2012
In furthererance to this office OM of even number dated 22-3-2012 regarding 'Advisory Group for International Taxation and Transfer Pricing', it has been decided with the approval of Competent Authority that the Group would comprise of the following members:-
i. Revenue Secretary to the Government of India-Head of the Advisory Group
ii. Chairman, Central Board of Direct Taxes, Department of Revenue- Member
iii. Director General of Income-tax (International Taxation), New Delhi- Member
iv. Joint Secretary (FT&TR-I), Department of Revenue- Member Secretary
v. Joint Secretary (FT&TR-II), Department of Revenue-Member
vi. Joint Secretary (TPL-I), Department of Revenue, Member
vii. Shri Som Mittal, NASSCOM, Member
viii. Shri P.Y. Gurav, CII, Member
ix. Shri Dinesh Kanabar, FICCI, Member
x. Mr. Ved Jain, ASSOCHAM, Member
xi. Shri Mahesh P. Sarda, ICAI, Member
xii. Shri T.P. Ostwal, IFA India, Member
xiii. Shri Mukesh Butani, ICC India, Member.
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What to watch

This is a consultative body inside the Department of Revenue; it decides nothing and binds no assessing authority.
Membership is by named individuals from named bodies, so it changes as those individuals change.
It is an administrative memorandum with no operative tax content.

Where you meet it

Only in policy consultation on international taxation and transfer pricing, not in any assessment or appellate proceeding.

← Circular No. F-46-AD(AT)2012] · Press Release →

A circular binds the department, not you and not a court. The Board issues a circular to its own officers. An assessee may hold the department to a circular that helps him; the department cannot hold an assessee to one that hurts him, and the Tribunal and the courts decide the law for themselves.

Source: the Income Tax Department’s own published text — its page for this instrument.