The Central Board of Direct Taxes (CBDT) has signed nine more unilateral advance pricing agreements (APAs) with Indian taxpayers in July as it looks to reduce litigation by providing certainty in transfer pricing.
The nine APAs signed in the past one month pertain to sectors like telecom, healthcare, manufacturing, engineering, media and irrigation.
With the signing of these Agreements, the total number of APAs entered into by the CBDT has gone up to 232, which includes 20 Bilateral Advance Pricing Agreements (BAPAs), the finance ministry said in a statement.
"Complex issues like capacity utilisation adjustment; treatment of AMP expenses etc. have been carefully examined and resolved in some of these agreements," the ministry added.
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