Fees For Making Application For Advance Pricing Agreement

1. A total of 1165 applications have been lodged since it was lodged. one. modification of critical assumptions or non-compliance with the condition of approval. The rules provide for a minimum deposit fee of Rs 10 Lakh per application for all international transactions up to Rs 100 crore. The person proposing the conclusion of an ABS must submit a written request for prior consultation to the Chief Income Tax Officer. 1. A person (who has carried out an international transaction or who is supposed to carry out an international transaction) may, in the case of a unilateral agreement, address a request to the Director General of Income Tax (International Taxation) and, in the case of a bilateral or multilateral agreement, to the competent authority of India. Upon receipt of the request, the team conducts a preliminary consultation with the individual. The component authority in India or its representative shall be involved in the prior completion of the consultation under the bilateral or multilateral agreement 3.

Pre-filing advice: since the application of the pre-pricing agreement is linked to a large amount of fees, the law contains a provision that a person who expects to enter into an APA with the board of directors has the opportunity to submit a request in the form of 3CEC to the Director General of Income Tax (International Taxation) in order to determine the scope of the agreement, TP problems to identify, to discuss the general conditions of the contract. Determine the suitability of the international transaction for an agreement. In this way, the person can decide whether or not to apply for an APA and for what type of transactions to submit APAs. This does not bind the person/board of directors to the conclusion of any agreement or is not considered an ABS application. The transfer price can be indicated as the price paid for goods or services transferred from an economic entity of an organization to its other units in different countries. Anyone who has entered into an international transaction in a previous year must request a report from the accountant prior to the filing of the income tax return and submit a report The taxpayer who wishes to enter into an advance pricing agreement must submit an application in a prescribed format, together with the required fee. . . .