AAR

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CA Ysil Karunai (Querist)
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18 November 2009 Dear Sir,
Can you explain, What is meant by Authority for Advance Ruling. please, give some example for this?

ANIL JANGID

ANIL JANGID (Expert)
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18 November 2009 The Authority for Advance Rulings consists of a Chairman , who is a retired Judge of the Supreme court and two members of the rank of Additional Secretary to the Government of India, one each from the Indian Revenue Service and the Indian Legal Service.

CA Ysil Karunai

CA Ysil Karunai (Querist)
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18 November 2009 thanks sir, Can you explain the role of ARR

ANIL JANGID

ANIL JANGID (Expert)
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18 November 2009 the possibility of dispute between non-residents and tax department has very substantially increased. The role of AAR to resolve such disputes has become very important.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 November 2009 With a view to avioding dispute in respect of assessment of income tax liability in case of non resident this scheme is introduced through the Finance act,1993. The scheme, in due course of time ,has been extened to resident applicants for a transaction entered into between a resident and non resident person. The role of AAR is to issue a binding rule ,in advance, on issue which could arise in determining their tax liabilities so that time consuming and expensive appeals can be avoided. For further detais pl refer chapter X1X-B of the Income tax Act,1961 and The Authority for Advanced Ruling (Procedure)Rules,1996.

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