Prior to joining Mastek, Vijay was an executive at Persistent Systems working as Senior Vice President of their digital transformation consulting and large deals.
The new companies law requires companies to formally meet the arm's length threshold while entering into related party transactions. MCA officials say the Income Tax Act definition of related party would apply to the Companies Act as well.
Clarity- this was the single point goal of the Rangachary Committee that was set up last year by the Prime Minister- clarity on how the transfer pricing principles should be applied to over 750 MNC Development Centres in India.
By: Vijay Iyer, Ernst & Young