Transfer Pricing News
I- T dept aims to clear 50 advance pricing pacts
(20 Jan 2016, 19:49 Hours IST)
The Income Tax department is looking at clearing 50 advance pricing agreements ( APAs) by March, which would help India become the second country to conclude 50 or more APAs in ayear, an I- T official said on Tuesday. APA provides for signing of an agreement between a taxpayer and the IT department on an appropriate transfer pricing methodology for determining the value of assets and ensuing taxes on intra- group overseas transactions.