New Delhi: The Central Board of Direct Taxes (CBDT) has entered into a record 125 Advance Pricing Agreements (APAs) in Financial Year 2023-24 with Indian taxpayers.
This includes 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs).
This marks the highest ever APA signings in any financial year since the launch of the APA programme.
The number of APAs signed in FY 2023-24 also represents a 31% increase compared to the 95 APAs signed during the preceding financial year. With this, the total number of APAs since inception of the APA programme has gone up to 641, comprising 506 UAPAs and 135 BAPAs.
During FY 2023-24 CBDT also signed the maximum number of BAPAs in any financial year till date. The BAPAs were signed as a consequence of entering into Mutual Agreements with India’s treaty partners namely Australia, Canada, Denmark, Japan, Singapore, the UK and the US.
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Ms Kalinga