Advance rulings: Board for Advance Rulings replaces Authority; scheme enables technological interface and modified application of the Act Section 245R is amended to substitute the word Authority with Board for Advance Rulings and to permit the Central Government to make a scheme, by notification, to govern advance rulings by the Board, enabling elimination of direct interface by technological means, optimisation of resources, and dynamic jurisdiction; the Government may also notify modifications or exclusions to provisions of the Income-tax Act to give effect to the scheme, and each notification must be laid before Parliament.
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Advance rulings: Board for Advance Rulings replaces Authority; scheme enables technological interface and modified application of the Act
Section 245R is amended to substitute the word Authority with Board for Advance Rulings and to permit the Central Government to make a scheme, by notification, to govern advance rulings by the Board, enabling elimination of direct interface by technological means, optimisation of resources, and dynamic jurisdiction; the Government may also notify modifications or exclusions to provisions of the Income-tax Act to give effect to the scheme, and each notification must be laid before Parliament.
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