On 12-6-2023, the Ministry of Finance issued the Income-tax (Ninth Amendment) Rules, 2023 to amend the Income-tax Rules, 1962 (‘IT Rules’). The provisions came into effect on 12-6-2023.
Key Points:
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Rule 44-E relates to Application for obtaining an advance ruling under which sub-rule (2) has been revised.
Earlier, the application, the verification appended, the annexures and the statements and documents accompanying the annexures were supposed to be signed only digitally, if it was required under the IT Rules to furnish return of income under digital signature.
Now, it can be both physically and digitally signed.
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Earlier, as per Rule 44-F, Certification of copies of the advance rulings was pronounced by the Authority.
Now, the Central Board of Direct Taxes will pronounce the certification of copies of the advance rulings.
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The following Forms have been substituted:
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Form No. 34C- Form of application by a non-resident applicant for obtaining an advance ruling under Section 245Q(1) of the Income-tax Act, 1961 (‘IT Act’).
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Form No. 34D- Form of application by a resident applicant seeking an advance ruling in relation to a transaction undertaken or proposed to be undertaken by him with a non-resident, under Section 245Q(1) of the IT Act.
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Form No. 34DA- Form of application by a resident applicant seeking an advance ruling, in relation to a transaction which has been undertaken or is proposed to be undertaken, under Section 245Q(1) of the IT Act.
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Form No. 34E- Form of application by a resident falling within such class or category of persons as notified by Central Government for obtaining an advance ruling under Section 245Q(1) of the IT Act.
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Form No. 34EA- Form of application by a person for obtaining an advance ruling under Section 245Q(1) of the IT Act.
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