can someone explain me advance ruling....im not able to understand it....
can someone explain me advance ruling....im not able to understand it....
Hi Aarthy ,
In simple language where some part of law or fact in a particular act(mainly income tax,custom etc) is ambiguous or gives out more than one meaning then a person makes an application for interpretation of the same to the authority for dvance ruling for clarity with regard to the same and how the same law or fact would be used in his/her regard. The authority for advance ruling interprets the same. This is mainly in case of non residents, who may not be able to interpret the indian laws clearly.
Feel free to ask for further clarifications on the same.
Thanks & Regards
Amit Mishra
BSamrish & Co.
New Delhi
CAclubindia
