Assignment of an APA Application To APA Team - International Taxation - Income Tax

Assignment of an APA Application to APA Team If an application is allowed to be proceeded With under Rule 10K , it shall be dealt with as under: In case of a unilateral application, the DGIT (International Taxation) shall assign it to one of the APA teams (there is only one team at this moment).The APA team shall examine and analysis the APA application and undertake negotiation With the applicant. The APA team shall make an endeavor to arrive at a negotiated settlement with the applicant. In case such a mutual agreement on relevant issues have been arrived at, the mutually agreed draft agreement shall be put up to the DGIT (International Taxation). DGIT shall, on being satisfied, send it to the Board for its consideration. In case of a bilateral and multilateral APA, the competent authority of India shall send the application to DGIT (International Taxation) for necessary enquiry, analysis and for preparation of draft report (draft Indian position paper). The DGIT shall assign it to one of the APA teams (at present there is only one team). The APA team shall then carry out detailed enquiry and analysis and prepare a draft Indian position in consultation With the Director General of Income Tax (International Taxation), the competent authority or India or its representatives and the applicant. The draft Indian position paper shall be forwarded by the DGIT (International Taxation) to the competent authority of India.