Application for Advance Ruling From & Fee [ Section 245Q read with Rule 44E ] - International Taxation - Income Tax

Application for Advance Ruling From fee [ Section 245Q read with Rule 44E ] An applicant desirous of obtaining advance ruling under this chapter or under Chapter V of the Customs Act, 1962 or under Chapter IIIA of the Central Excise Act, 1944 or under Chapter VA of the Finance Act, 1994 [Inserted by FA, 2017, w.e.f. 1-4-2017] may take the following steps:- Step 1: Make an application in prescribed form and manner stating the question on which the advance ruling is sought. Step 2: Application can be withdrawn within 30 days from the date of application. Step 3: Application shall be in quadruplicate [Rule 44E(1)] and An application for obtaining an Advance Ruling u/s 245Q(1) shall be made in quadruplicate: - APPLICANT FORM OF APPLICATION A non-resident applicant. Form No. 34C A resident seeking advance ruling in relation to a transaction undertaken or proposed to be undertaken by him with a non-resident. Form No. 34D A resident seeking advance ruling in relation to his tax liability arising out of one or more transactions valuing ₹ 100 crore or more in total which has been undertaken or proposed to be undertaken by him. Form No. 34DA A resident falling within any such class or category of person as is notified by Central Government (i.e., a public sector company) Form No. 34E Any person (resident or non-resident making an application for determination of whether an arrangement, is an impermissible avoidance agreement as referred to in Chapter X-A. Form No. 34EA Content of Application Form Form Nos. 34C, 34D, 34DA, 34E, 34EA are simple application forms. Notes for guidance for filling up the application are also set out in these forms. The main information which the applicant is required to furnish in the application is as follows: (a) The question(s) relating to the transaction on which the advance ruling is required. (b) Details of the relevant facts having a bearing on the question, e. g. the nature of the business or profession, the date/likely date of the transaction, nature of the transaction, etc. (c) The applicant s interpretation of law or facts in respect of the question on which the advance ruling has been sought. (d) If the applicant is assessed to tax in India or is aware of the jurisdiction of its case, the address of the Pr. Commissioner/ Commissioner of Income-tax and PAN or Aadhaar Number of the applicant, if any, may be given in the application. (e) Further, in case the transaction on which advance ruling is sought relates to an event of national or international importance, the name of the event is required to be furnished. (f) Where the PAN is not allotted, the Department would allot the PAN after obtaining the requisite particulars from the applicant. (g) If questions of law or fact are pending before any income-tax authority, the details thereof need be submitted Rule 44E(2):- The application, its verification, the annexures to the said application and the statements and documents accompanying it shall be signed by a person mentioned in rule 44E(2) of the Income-Tax Rules, 1962. Step 4: Every application in the Form as applicable shall be accompanied by the proof of payment of fees as specified in rule 44E(4) . CATEGORY OF APPLICANT CATEGORY OF CASE FEE An applicant referred to in sub-clauses (i) or (ii) or (iia) of section 245N Amount of one or more transaction, entered into or proposed to be undertaken, in respect of which ruling is sought does not exceed ₹ 100 crore. ₹ 2 lacs Amount of one or more transaction, entered into or proposed to be undertaken, in respect of which ruling is sought exceeds ₹ 100 crore but does not exceed ₹ 300 crore. Rs.5 lacs Amount of one or more transaction, entered into or proposed to be undertaken, in respect of which ruling is sought exceeds ₹ 300 crore. Rs.10 lacs Any other applicant (PSUs) In all case. Rs.10,000 Such Above mentioned fee to be paid The Fee is required to be paid on Bharatkosh, Government of India receipts portal, as per the following steps: Step 1. Visit the URL https://bharatkosh.gov.in Step 2. Go to Payment to GoI , then go to Non-Registered Users , then go to Depositor s category (Choose as applicable in your case), then go to Purpose , then go to Ministry , then select (CBDT) from the drop-down options, then go to Purpose , and fill (Fee towards Board for Advance Rulings) , then go to Search , then select Fee towards Board for Advance Rulings (BAR) , (Now, the Payment Purpose page will display Function Head 007500800130000; PAO 057288 - ZAO(CBDT), New Delhi and DDO 206714-DDO, Authority for Advance Rulings, Income Tax, Chanakyapuri) Step 3. Fill up the correct fee amount, and in the space for Remarks on the Payment Purpose page, write i) The name of the applicant applying for Advance Ruling ii) The transaction value and PAN. Step 4. On the next page titled Depositor s Details , fill up the relevant information, as applicable (ensuring that only the registered email id, as defined in the scheme is filled); and then, on the next page titled Confirm Info , confirm the Depositor s Details and Purpose Details. Step 5. Make the payment using any of the payment modes displayed. Step 6. Please attach the fee payment receipt generated on bharatkosh.gov.in to your application for Advance Ruling as the proof of payment. DOCUMENTS NEED TO BE SUBMITTED ALONG WITH THE APPLICATION 4 copies of application in the prescribed form. If the application is found to be defective, the Secretary of the Authority may send the application back to the applicant for removing the defect within such time as he may allow. Such application in that case shall be deemed to has been made on the date on which the application after rectification is submitted. The applicant may, on or before the 31st day of October, 2024, request the Board for Advance Rulings in writing that the application so transferred may not be proceeded with, if up to the date of such request, the Board for Advance Rulings has not passed an order under section 245R(2). [ Inserted vide Finance (No. 2) Act, 2024 w.e.f. 01 -10-2024 ]