CBDT : Profit Split Method Not Best Transfer Pricing Method !

Central Board of Direct Tax or CBDT has cancelled teh Circular No 2/2013 and also modified the Circular 3/2013 .Both these circulars were pertaining to Transfer Pricing and were issued on the reccomendation of a committee headed by Ex-Chirman ,CBDT.The Industry filed representation with the CBDT that the issue of circulars for clarity on selection…