Circular No. 12/2001 — Transfer pricing — guidelines on documentation
Date: 2001-08-23 Status: ACTIVE Category: Transfer Pricing Binding on Department: Yes (Section 119 / Section 400 IT Act 2025)
Summary
Documentation requirements for international transactions subject to transfer pricing.
Key Directions
- Description of international transactions.
- Functional analysis, comparability analysis, and method selection.
- Documentation maintained by due date of return.
- Penalty for failure to maintain documentation.
Applicability Under IT Act 2025
Saving Clause: Section 536 of IT Act 2025 saves circulars issued under the 1961 Act “so far as not inconsistent” with the new Act.
| Old Section (1961 Act) | New Section (2025 Act) | Consistent? |
|---|---|---|
| 92D | 171 | Yes |
Cross-References
Act Sections
- Section 92D
- Section 171
Related Circulars
- None identified
Key Case Law (Circular Supremacy)
- To be populated — cases where this circular was cited/applied
Full Text
Full text to be added — see raw/circulars/ for PDF when available
Source
- Official: incometaxindia.gov.in/circulars