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of <h1>Rule 10P Audit: Ensuring Compliance with Advance Pricing Agreements in International Taxation by Transfer Pricing Officer</h1> A compliance audit under Rule 10P is conducted by the jurisdictional Transfer Pricing Officer (TPO) to ensure adherence to the terms of an Advance Pricing Agreement (APA) in international taxation. The TPO audits the agreement annually, requiring the assessee to substantiate compliance with critical assumptions and transfer pricing methods. The TPO submits a report to the DGIT (International Taxation) or the competent authority in India, depending on the agreement type. If non-compliance is found, the report is forwarded to the Board for potential cancellation. The audit report must be submitted within six months of receiving the Annual Compliance Report. Regular audits are not conducted if an agreement exists unless it is canceled.
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