The Central Board of Direct Taxes (CBDT) has amended the Form for Advance Ruling wherein it was mandated that the non-residents have to furnish their unique number in the application in order to prove their identity.
Under the Income Tax Act, Advance Ruling means written opinion or authoritative decision by an Authority empowered to render it with regard to the tax consequences of a transaction or proposed transaction or an assessment in regard thereto. It has been defined in section 245N(a) of the Income-tax Act, 1961 as amended from time-to-time.
A resident can also seek an advance ruling in relation to the tax liability of a non-resident arising out of transaction undertaken or proposed to be undertaken by him with a non-resident.
Subscribe Taxscan Premium to view the Judgment
