9911796707
TMI BlogMeaning of Advance Ruling & Applicant [ Section 245N ]X X X X Extracts X X X X X X X X Extracts X X X X ..... * such determination shall include the determination of any question of law or question of fact specified in the application. Non-resident referred to in a(i), (ii) * A determination by the AAR in relation to the tax liability of a NR arising out of a transaction which has been undertaken or is proposed to be undertaken by a Resident applicant with such NR and * Such determination shall inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndertaken] [vide Notification No. 73 dated 28th November, 2014] (iii) * A determination by the AAR in respect of an issue relating to computation of total income which is pending before any income tax Authority, or ITAT and * Such determination shall include the determination of any question of law or question of fact specified in the application A resident falling within notified class or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... * 1. An applicant as defined in section 28E(c) of the Customs Act, 1962; * 2. An applicant as defined in section 23A(c)of the Central Excise Act, 1944; * 3. An applicant as defined in section 96A(b) of the Finance Act, 1994 * The Finance Act, 2021 has amended provisions of section 245N(b) to provide that above three points shall be omitted with effect from such date as appointed by the Centr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... residents
* a resident
* a public sector company
* Further the advance ruling is to be given on questions specified in relation to transaction by the applicant himself and not by any other person. However the applicant can be a representative assessee on behalf of trust through which it has made investments in India. X X X X Extracts X X X X X X X X Extracts X X X X
|
