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<h1>Advance Pricing Agreement Process: Rule 10L Outlines Steps from Application to Final Agreement with Tax Authorities.</h1> Rule 10L of the Income-tax Rules, 1962, details the procedure for processing an application under the Advance Pricing Agreement Scheme. Upon approval, the competent authority or representative in India engages with the applicant through meetings, document requests, and inquiries. For bilateral or multilateral agreements, the application is forwarded to the Director General of Income-tax (International Taxation) for assignment and report preparation. A proposed draft agreement is prepared and approved by the Central Government, after which the Board enters into the agreement with the applicant. The final agreement is sent to the relevant Commissioner of Income-tax.