CBDT Operationalises Introduces E-Advance Ruling In Delhi, Mumbai
1 year, 3 months ago

CBDT Operationalises Introduces E-Advance Ruling In Delhi, Mumbai

Live Law  

The Central Board of Direct Taxes on 19.08.2023, issued a notification regarding the operationalisation of the Board for Advance Rulings CBDT had constituted three Boards for Advance Rulings in September, 2021. 07 of 2022, the Scheme of E-advance Ruling was introduced with an objective to make the entire process of advance rulings with a minimal interface and impart greater efficiency, transparency and accountability. Further, even a resident entity can obtain a Ruling on the taxability of a transaction and avoid long-drawn litigation, as the Scheme is also available to a resident taxpayer seeking an advance ruling concerning its tax liability arising out of one or more transactions, valuing Rs.100 crore or more in total. Public Sector Undertakings can take advantage of getting advance rulings on questions of facts or law pending before any income-tax authority or Appellate Tribunal.

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History of this topic

CBDT Liberalises Signing Requirement For Advance Ruling Applications
1 year, 6 months ago

CBDT Liberalises Signing Requirement For Advance Ruling Applications

Live Law  

The Central Board of Direct Taxes and Customs has liberalized the signing requirement for Advance Ruling applications.The CBDT has notified the Income-tax Rules, 2023, by which it has amended Rule 44E of the Income Tax Rules, 1962.As per the amended Rule 44E of the Income Tax Rules of 1962, applicants seeking advance rulings may send their applications to the Secretary. …

CBDT Notifies ITR Forms For Assessment Year 2023-24
1 year, 10 months ago

CBDT Notifies ITR Forms For Assessment Year 2023-24

Live Law  

The Central Board of Direct Taxes has notified the ITR forms for the assessment year 2023–24.The Board has notified the Income-tax Rules, 2023, which shall come into force with effect from April 1, 2023.The Board has notified the Indian Income Tax Return Forms, namely ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4 SUGAM, ITR-5, ITR-6, and ITR-V, and the Indian Income Tax. The …

CBDT Sets Up Offices in Delhi And Mumbai For Operationalising Board For Advance Rulings
1 year, 10 months ago

CBDT Sets Up Offices in Delhi And Mumbai For Operationalising Board For Advance Rulings

Live Law  

The Central Board of Direct Taxes has notified the setting up of offices in Delhi and Mumbai for operationalizing the Board for Advance Rulings.The Board For Advance Ruling will have any additional income-tax authorities, ministerial staff, executives, or consultants it deems necessary to assist its members.The Principal Chief Commissioner of Income-tax concerned, who is. The Central Board of Direct Taxes …

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