NRI Taxation » Advance Rulings
Non-residents can obtain in advance a binding ruling on issues, which could arise in determination of their tax liabilities. Such issues can relate to a transaction, which has been undertaken or is proposed to be undertaken.
Advance Rulings help Non-residents to plan their income tax affairs well in advance, bring certainty in determination of tax liability. They also help to avoid long drawn litigation.
Where Advance Rulings can be sought
Some examples:
- For application of double taxation avoidance agreements [DTAAs] entered into by India.
- Where there is a conflict between DTAAS and domestic legislation.
- Where there are taxation problems in India of international partnerships,
Where Advance Rulings cannot be sought
Some examples:
- the matter is already pending before an income tax authority
- it involves the determination of fair market valuation of a property
- it relates to a transaction which is designed prima facie for avoidance of tax
conflict nri double taxation
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