The CBDT has signed seven Unilateral Advance Pricing Agreements (APAs) with Indian taxpayers.What is the full form of CBDT

2016

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Central Board of Direct Tax
B	Central Board of Direct Taxes
C	Control Board of Direct Taxes
D	Centrel Board of Direct Tax

Explanation:

Detailed explanation-1: -CCIT (International Taxation & Transfer Pricing) and sent to the Central Board of Direct Taxes [CBDT] for approval.

Detailed explanation-2: -Unilateral APA: an APA that involves only the tax payer and the tax authority of the country where the tax payer is located.

Detailed explanation-3: -The Central Board of Direct Taxes is a statutory authority functioning under the Central Board of Revenue Act, 1963. The officials of the Board in their ex-officio capacity also function as a Division of the Ministry dealing with matters relating to levy and collection of direct taxes. Historical Background of C.B.D.T.

Detailed explanation-4: -The transfer pricing documentation shall be required if the value of international transactions exceeds INR 1 crore and specified domestic transactions exceed INR 20 crore in a financial year. 5. When are the taxpayers required to file accountant’s report specified in Section 92E of the Income-tax Act, 1961?

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