Application for obtaining an advance ruling under section 383

Application for obtaining an advance ruling under section 383.

200. (1) An application for obtaining an advance ruling under section 383(1), shall be made by a resident or a non-resident applicant in Form No. 120 and verified in the manner indicated therein in accordance with this rule.

(2) The fees payable along with the application for advance ruling shall be in accordance with the following Table:

TABLE

Sl. No. Amount of transaction of one or more transaction for which ruling is sought

A C

1. Amount less than one hundred crore rupees.

Amount between one hundred crore rupees and three hundred crore rupees. Rs. 500000

Amount more than three hundred crore rupees. Ten lakh rupees

2. Amount between one hundred crore rupees and three hundred crore rupees.

Amount more than three hundred crore rupees. Ten lakh rupees

3. In all cases

(3) The application referred to in sub-rule (1), the verification appended thereto, the annexures and the statements and documents accompanying the application shall be furnished electronically and shall be signed or digitally signed in the following manner:—

(a) where the applicant is a person required to furnish a return of income under the Act, the application and accompanying documents shall be signed or digitally signed by the person who is authorised to verify such return under section 265, and shall be furnished electronically—

(i) under digital signature, if the return of income is required to be furnished under digital signature; or

(ii) through electronic verification code, in any other case; or

(b) where the applicant is not a person required to furnish a return of income under the Act, the application and accompanying documents shall be signed or digitally signed by any person duly authorised by the applicant for this purpose and holding a valid power of attorney, and may be furnished using digital signature or electronic verification code as specified by the Board.

(4) Every application in the Form, as applicable, shall be accompanied by the proof of payment of fees as specified in sub-rule (2).