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Rule 10-I of Income Tax Rules 1962: Application for Advance Pricing Agreement

Rule 10-I : Application for advance pricing agreement

(1) Any person, referred to in rule 10G may, if desires to enter into an agreement furnish an application in Form No. 3CED along with the requisite fee.

(2) The application shall be furnished to Director General of Income-tax (International Taxation) in case of unilateral agreement and to the competent authority in India in case of bilateral or multilateral agreement.

(3) Application in Form No. 3CED may be filed by the person referred to in rule 10G at any time—
(i) before the first day of the previous year relevant to the first assessment year for which the application is made, in respect of transactions which are of a continuing nature from dealings that are already occurring; or(ii) before undertaking the transaction in respect of remaining transactions.
(4) Every application in Form No. 3CED shall be accompanied by the proof of payment of fees as specified in sub-rule (5).

(5) The fees payable shall be in accordance with following table based on the amount of international transaction entered into or proposed to be undertaken in respect of which the agreement is proposed:

Amount of international transaction entered into or proposed to be undertaken in respect of which agreement is proposed during the proposed period of agreement.
Fee
Amount not exceeding Rs. 100 crores
10 lacs
Amount not exceeding Rs. 200 crores
15 lacs
Amount exceeding Rs. 200 crores
20 lacs



Extra Notes for Readers:

- Rule 10-I was introduced by the Income Tax (10th Amendment) Rules, 2012, w.e.f. 30-8-2012



Reference/Source: Check at Income Tax site for latest version of the Rules - link

This page was last updated on 17th October 2016.
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