Income Tax Update – Highlights on Recent Amendments
Sonakshi Jhunjhunwala & Sunil Jhunjhunwala
CBDT releases 7th APA Annual Report for FY 2024-25, highlights first MAPA signing: September, 2025
CBDT releases seventh Annual Report on APA programme highlighting the progress made in FY 2024-25. The Report mentions that CBDT recorded the highest ever APA signings in any FY since the launch of the APA programme, by signing a total of 174 APAs. It also highlights that CBDT signed the maximum number of 65 BAPAs in consequence of entering into Mutual Agreements with India’s treaty partners namely Australia, Japan, New Zealand, Singapore, South Korea, The Netherlands, the UK and the US.
The Report further emphasizes that India also signed its first multi-lateral APA (MAPA).
In FY 2024-25, the 109 Unilateral APAs (UAPAs) were entered into which have provided tax certainty for 524 APA years and 76 rollback years (31 APAs also had a rollback term); The Report highlights that majority of UAPAs signed in FY 2024.......


