Finance Minister approved Advance Pricing Agreement Scheme

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Pranab Mukherjee has approved the Advance Pricing Agreement (APA) scheme, pertaining to transfer pricing regulations. The finance minister’s approval to the provisions formulated by the Central Board of Direct Taxes (CBDT) would facilitate implementation of the APA scheme from July 1. The scheme would cover the norms for coverage of cases under APA and also forms for availing the facilities provided. The fees for availing the scheme had been kept reasonable.

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