India releases dispute panel rules
November 25, 2009
The Indian Central Board of Direct Taxes (CBDT) has finally unveiled rules for the country’s new dispute resolution panels (DRP), nearly two months after the mechanism became effective. Samir Gandhi and Vineet Chhabra of Deloitte India discuss the rules notified by the CBDT.
The 2009 Indian budget brought in substantive change in the transfer pricing regulations by creating an alternate dispute resolution mechanism within the tax department for quick resolution of tax disputes. Now the CBDT has, in its notification dated November 20 2009, issued the necessary rules in the Official Gazette to regulate the procedure of the DRP. These rules are called the Income Tax (Dispute Resolution Panel) Rules, 2009.
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