Section 245R of ITA, 1961 : Section 245R: Procedure On Receipt Of Application

Explanation using Example

Imagine a company, TechCorp, that is planning to set up a new type of data center in India and is unsure about the tax implications of its proposed activities under the Income-tax Act, 1961. TechCorp wants to avoid any future tax disputes and decides to seek clarity on its tax obligations in advance. They submit an application to the Authority for Advance Rulings (AAR) under Section 245R of the Income-tax Act, hoping to get an advance ruling on their tax questions.

The AAR receives the application and forwards a copy to the Principal Commissioner of Income Tax (...

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