domingo, 21 de junio de 2015

Indian Government provides clarifications on APA rollback provisions

Provisions relating to advance pricing agreements (APAs) were introduced in the Indian Income-tax Act, 1961 (the Act) with effect from 1 July 2012, vide Finance Act, 2012. These provisions did not then include rollback provisions.  The provision to provide for a rollback mechanism was brought into the Act vide Finance Act 2014 with effect from 1 October 2014. Thereafter, in March 2015, the Indian Central Board of Direct Taxes (CBDT) announced detailed rules explaining the rollback provisions and the procedure for giving effect to them (the Rules).
Subsequent to the Rules being notified, the CBDT received several requests for clarifications regarding certain matters.  To address these, the CBDT has now issued clarifications in a Question and Answer format.
Source & more info: PwC

No hay comentarios:

Publicar un comentario