Indian CBDT announces New Forms for Advance Rulings

Published on May 10, 2022

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The Authority for Advance Rulings (AAR) (Income-Tax) is a quasi-judicial body under the Ministry of Finance, which is chaired by a retired Supreme Court Judge. It was established in 1993 as per the provisions of chapter XIX B of the Income Tax Act 1961 inserted by Finance Act 1993 w.e.f. 01.06.1993. An application for advance ruling can be made by a non-resident, a resident concerning the taxability of a non-resident, a resident for a transaction of INR 100 Crores (~USD 12,909,810) or more (introduced in 2014), a notified public sector company or any person who needs clarity on whether a proposed transaction will attract the rigours of 'General Anti Avoidance Rules' (GAAR).

Document attached for the full read.

Download New Forms of Advance Rulings for Non-Residents notified by India