Section 245Q of ITA, 1961 : Section 245Q: Application For Advance Ruling
ITA, 1961
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Explanation using Example
Imagine a company named 'Tech Solutions Ltd.' is planning to enter into a transaction with an overseas client, which involves complex tax implications under Indian tax laws. The company's management is uncertain about the tax liability that will arise from the transaction and wishes to avoid any potential disputes with the Indian tax authorities in the future.
To get clarity on the tax treatment, 'Tech Solutions Ltd.' decides to seek an...
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