Notification No. 31/2012

Section 92C of the Income-tax Act, 1961 - Transfer pricing - Computation of Arm's length price - Notified percentage under second proviso to section 92C(2)

What this is

Notification No. 31/2012 was published on 17 August 2012. Its subject is Section 92C of the Income-tax Act, 1961 - Transfer pricing - Computation of Arm's length price - Notified percentage under second proviso to section 92C(2).

This notifies a named person, body, fund or instrument for the purpose of a provision. Nothing in it changes the provision itself.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.92C	s.165

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.

Section 92C of the Income-tax Act, 1961 - Transfer pricing - Computation of Arm's length price - Notified percentage under second proviso to section 92C(2)
Notification No. 31/2012 [F.No. 500/185/2011-FTD I]/SO 1871(E), dated 17-8-2012
In exercise of the powers conferred by the second proviso to sub-section (2) of section 92C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that where the variation between the arm's length price determined under section 92C and the price at which the international transaction has actually been undertaken does not exceed five per cent of the latter, the price at which the international transaction has actually been undertaken shall be deemed to be the arm's length price for assessment year 2012-13.
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On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 157/2025 [F. No. 500/1/2014-APA-II] / SO 5053(E) — Ministry of Finance 6 November 2025
Notification No. 116/2024 [F. No. 500/1/2014-APA-II] / SO 4571(E) — Ministry of Finance 18 October 2024
Notification No. 46/2023 [F. No. 500/1/2014-APA-II] / SO 2777(E) — Ministry of Finance 26 June 2023
Notification No. 70/2022 [F. No. 500/1/2014-APA-II] / SO 2928(E) — Ministry of Finance 28 June 2022
Notification No. 124/2021 [F. No. 500/1/2014-APA-II] / S.O. 4586(E) — Ministry of Finance 29 October 2021
Notification No. 83/2020 [F.No.500/1/2014-APA-II] / SO 3660(E) — रुजचका िमा, अिर सजचि 19 October 2020

← Notification No. 33/2012 · Notification No. 32/2012 →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

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