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.
“advance ruling” means—
(i) a determination by the Authority in relation to a transaction which has been undertaken or is proposed to be undertaken by a non-resident applicant; or†
(ii) a determination by the Authority in relation to the tax liability of a non-resident arising out of a transaction which has been undertaken or is proposed to be undertaken by a resident applicant with such non-resident; or*
(iia) a determination by the Authority in relation to the tax liability of a resident applicant, arising out of a transaction which has been undertaken or is proposed to be undertaken by such applicant;
and such determination shall include the determination of any question of law or of fact specified in the application;
(iii) a determination or decision by the Authority in respect of an issue relating to computation of total income which is pending before any income-tax authority or the Appellate Tribunal and such determination or decision shall include the determination or decision of any question of law or of fact relating to such computation of total income specified in the application;
(iv) a determination or decision by the Authority whether an arrangement, which is proposed to be undertaken by any person being a resident or a non-resident, is an impermissible avoidance arrangement as referred to in Chapter X-A or not:
CBDT notifies E-advance rulings Scheme, 2022 vide Notification No. 07/2022 dated 18th January, 2022.
E-advance rulings Scheme, 2022 shall be applicable to applications of advance rulings,–
(a) made to the Board for Advance Rulings under sub-section (1) of section 245Q of the Act; or
(b) transferred to Board for Advance Rulings under sub-section (4) of section 245Q of the Act.
Download Notification
Notification No. 7/2022 [F.No.370142/62/2021-TPL(Part-I)] / SO 248(E) : e-advance Rulings Scheme, 2022 !New 18 January 2022
https://incometaxindia.gov.in/communications/notification/notification-7-2022.pdf
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