Answer the following questions in the context of provisions contained under the Income-Tax Act, 1961 by taking each an independent case of Advance Ruling: Fees to be paid and form to be filed for obtaining the advance ru

CS Professional · Advanced Tax Laws and Practice · PYQS · June 2018
Answer the following questions in the context of provisions contained under the Income-Tax Act, 1961 by taking each an independent case of Advance Ruling: Fees to be paid and form to be filed for obtaining the advance ruling.

Answer & Explanation:

Fees of ₹ 10,000 or such fee as may be provided under rule 44E whichever is higher is to be paid alongwith the application as per section 245Q(2). Applicant Form No. Non Resident 34C Resident Any resident seeking advance ruling in relation to transaction with Non-Resident 34D Any public sector company 34E Any resident in relation to his tax liability arising out of one or more transaction valuing ₹ 100 crore or more in total which has been undertaken or proposed to be undertaken 34DA Any resident / Non-resident and he seeks advance ruling in respect of impermissible avoidance arrangement 34EA

Topics: Income Tax Act, 1961

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