Relevance Of OECD Guidelines: Department’s View

S. No.

Request For

Reply / information furnished

1.

(a) Whether India is a member of Organization for Economic Co-operation and Development (OECD) and

(b) Whether India has entered into any treaty or MOU agreement  or any other nature of document which binds India in the tax treatment of Indian companies in India based on the OECD guidelines;

(c) If so, kindly issue a copy of the same

(a) No, India is not a member of OECD

(b) No

(c) Not applicable

2.

Whether any circular, instructions or advice given to the assessee or Assessing Officer / Transfer Pricing Officer making OECD guidelines of any nature binding in the tax proceedings in India to Indian Companies / Assessee, if so a copy of the same may be given

No

3.

Whether any advice, affirmative or negative, regarding the persuasive effect of OECD guidelines in determining the income taxable in India more particularly on the issue of transactions between Associated  Enterprises, if so copy of the same may be given

No

4.

Is it open to the assessee to request Assessing Officer /Transfer pricing Officer to assessee based on Indian Income Tax Act, Rules and Circulars determining Transfer pricing Adjustment without any reference to OECD guidelines. 

Assessing Officers / Transfer pricing Oficers are to determine / assess on the basis of Indian Income Tax Act, Rules and Circulars on the subject.