SCHEME OF ADVANCE RULINGS FOR NON-RESIDENTS UNDER THE INCOME-TAX ACT,1961

WHAT IS THE SCHEME OF ADVANCE RULING?

With a view to avoiding a dispute in respect of assessment of income tax liability in the case of a non-resident, a Scheme of Advance Ruling has been introduced by incorporating Chapter XIX-B in the Income Tax Act, 1961 by the Finance Act, 1993. The Scheme now enables the non-residents to obtain, in advance, a binding ruling from the Authority for Advance Ruling on issues which could arise in determining their tax liabilities. Time- consuming and expensive appeals can, thus be avoided. Such issues may relate to transactions undertaken or proposed to be undertaken by the non-resident applicant.

Frequently Asked Questions By Non-Resident Indians

[What is the Scheme of Advance Ruling?][ What is the mechanism for Pronouncing Advance Rulings?][What are benefits of Advance Rulings?][Who can Seek Advance Rulings?][Who is a Non-Resident?][What are the Questions on which Advance Ruling can be sought?][How to seek Advance Rulings?][Where to get assistance?]