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) | 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
Latest Expert Exchange
« Direct Tax »
  CBDT breather soon on past angel tax demands
 Why you should choose your tax saving options wisely
 CBDT breather soon on past angel tax demands
 Infosys-built system to cut tax return processing time to 24 hours by 2020
 Notification No. 04/2019-Central Board of Indirect Taxes and Customs
 Income tax exemption limit likely to be increased to Rs 5 lakh
 Bringing back the local in the national tax regime
 CBDT chief cautions I-T officials about direct tax collection growth rate
 No TDS for long-term property lease premium, says Mumbaiā€™s Income-tax Appellate Tribunal
 Bansal Overseas 121 KM Stone, Near Namastesy Chowk, G. T. Road Karnal vs. ACIT Karnal Circle, Aayakar Bhawan, Sector- 12, Urban Estate Karnal
 How to invest, how much you may invest and save in taxes SBI Tax Saving Scheme

CBDT signs 5 advance pricing pacts with Indian taxpayers
September, 29th 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.

"One of these agreements has a rollback provision in it. With these signings, the total number of APAs entered into by the CBDT has reached 103," the Finance Ministry said in a statement.

"The 5 APAs signed today pertain to diverse sectors, i.e., information technology, sourcing services and investment advisory services," it added.

The statement further said 103 APAs signed so far include 4 bilateral APAs and 99 unilateral APAs.

"A total of 39 APAs have already been concluded in six months of the current Financial Year," it said.

CBDT expects more APAs to be concluded and signed in the near future, the statement said, adding that the progress of the APA scheme strengthens the government's commitment to foster a non-adversarial tax regime.

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 five years.

Further, the taxpayer has the option to rollback 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.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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