Entering into a Unilateral APA - International Taxation - Income Tax

Entering into a Unilateral APA On receipt of mutually agreed draft agreement, the Board may, with the approval of the Central Government, enter into an APA With the assessee. On behalf Of the assessee, the APA shall be signed by the person who is competent to sign its Income tax Return. Terms of APA will be in accordance with Rule 10M . Once APA has been entered into, DGIT(IT) shall send a copy of the APA to the commissioner of income tax having jurisdiction over the applicant. It may be noted that once a unilateral APA has been entered into, there will not be any MAP benefit available to the assessee with respect to the covered transactions.