News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
« Direct Tax »
 ITR filing done, what next? Here are some easy steps to verify return digitally
 Penalty you will pay for not filing income tax return before deadline
 CBDT launches one-time facility for compounding of income tax offences
 Centre may tweak Income Tax Act, won’t replace it with direct tax code
 Government to tweak Income Tax Act, won’t replace it with direct tax code
 Monetary limits won't matter in organised tax evasion, says CBDT
 ITR Filing 2019: Filing income tax returns for FY 2018-19? Here is all you need to know
 How to change bank, personal details in ITR after filing it
 CBDT signs 26 advance pricing agreements in April-August
 Central Board Of Indirect Taxes And Customs (CBIC)
 Waiting for income tax refund? Here is how to claim ITR refund and check status

CBDT signs 5 advance pricing pacts with Indian taxpayers
October, 28th 2016

The Central Board of Direct Taxes today singed five unilateral advance pricing agreements (APAs) with Indian taxpayers as it looks to reduce litigation by providing certainty in transfer pricing.

"The five APA agreement agreements cover a range of international transactions, including sale of finished goods, purchase of raw materials, software development services, IT enabled services, exports and interest payment.

"The agreements pertain to different industrial sectors like manufacturing, IT services, etc. The agreements provide certainty to the taxpayers for five years with regard to the covered-international transactions," the finance ministry said in a statement.

With today's signing, the total number of APAs signed so far has reached 108. These include four bilateral APAs and 104 unilateral APAs since 2013-14. Of these,44 APAs have been concluded in seven months of the current financial year itself, it added.

The APA scheme was introduced in the Income-tax Act in 2012 and the Rollback provisions were introduced in 2014.

The Scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and determining the arm's length price of international transactions in advance for a maximum period of five future years.

Further, the taxpayer has the option to roll back the APA for four preceding years.

Since its inception, the APA scheme has attracted tremendous interest among Multi National Enterprises (MNEs) and more than 700 applications (both unilateral and bilateral) have been filed in just four years, the statement said. PTI BKS .

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions