Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: cpt :: due date for vat payment :: VAT Audit :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: form 3cd :: list of goods taxed at 4% :: articles on VAT and GST in India :: empanelment
News Headlines »
 CBDT releases Income Tax Return statistics for last two fiscals
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers

CBDT Press Release Regarding Signing of 5 APAs.
April, 11th 2014
                                     Government of India
                                      Ministry of Finance
                                    Department of Revenue
                                  Central Board of Direct Taxes

                                         PRESS RELEASE
                                                                                  31st March, 2014

The CBDT has signed the first batch of 5 unilateral Advance Pricing Agreements (APA) on 31st
March 2014. The agreements cover a period of 5 years from AY 2014-15 to AY 2018-19 and
specify the arm's length price for the covered international transactions entered into by the
taxpayers. These agreements cover a range of international transactions, including interest
payments, corporate guarantees, non -binding investment advisory services and contract
manufacturing. The agreements pertain to different industrial sectors including pharmaceuticals,
telecom, exploration and financial services.

The agreements provide a complete certainty to the taxpayers for 5 years with regard to the
covered international transactions. The APA programme came into effect on 1st July 2012 and
the first batch of 146 APA applications was received in March 2013. The CBDT has been able to
conclude the first set of agreements within a period of 1 year as against the internationally
accepted norm of at least 2 years.

The whole scheme of APA has been designed with the intention of creating a taxpayer friendly
environment in transfer pricing matters and to minimise the transfer pricing disputes. Before
filing the APA applications, taxpayers are given the opportunity to share their expectations from
the APA process during the pre-filing consultations and the APA team shares a broader
understanding of the forthcoming APA procedure.

Having received an APA application, the APA team works towards establishing the appropriate
economic analysis of the covered international transactions which also involves a site visit i.e.
physical verification of the business of the applicant with regard to the said transactions. It is
this detailed fact finding exercise which lends credibility to the determination of arm's length
price under the APA. The APA team furnishes a report incorporating functions, assets and risk
(FAR) analysis which is further examined at length by the CBDT before its submission for the
final approval of the Central Government.

                                                                                 (Rekha Shukla)
                                                                  Commissioner of Income Tax
                                                                    (Media & Technical Policy)
                                                                   Official Spokesperson, CBDT
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

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