Application to advance ruling

[SNEHAL SHAH]

Sir,

 

In which case we will give application at Advance rulling , please brief advace ruling procedure & when need .

Sachin

[Surender Gupta]

Chapter No. XIX B of the Income tax Act, provides provisions for Advance rulings.  Section 245N of the Act provides the meaning of advance ruling and person (an applicant) who can file advance ruling application.

AI Summary

Understanding Advance Rulings: Eligibility and Procedure Explained Under Section 245N of the Income Tax Act An individual inquired about the procedure and necessity for applying for an advance ruling in the context of Central Excise. A respondent explained that Chapter XIX B of the Income Tax Act outlines the provisions for advance rulings. Section 245N of the Act defines what constitutes an advance ruling and specifies who is eligible to apply for one. The discussion serves as a knowledge-sharing platform on the topic.