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of <h1>Income Tax Bill 2025: Clause 168 Enables Advance Pricing Agreements for International Transactions with Government Approval</h1> Clause 168 of the Income Tax Bill, 2025, allows the Board, with Central Government approval, to enter into advance pricing agreements (APAs) with individuals. These agreements determine the arm's length price or income related to international transactions and operations in India by non-residents. APAs are valid for up to five consecutive tax years and bind the involved parties and tax authorities, unless there is a change in law or facts. Agreements obtained through fraud or misrepresentation can be declared void. The Board may prescribe a scheme for the APA process, and applications for APAs are considered pending until finalized.
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