Sunday, May 22, 2022

E-Advance Ruling Scheme: The Finance Ministry has approved the e-advance ruling scheme, which will assist taxpayers

E-advance decision: Hearings before the Board for Advance Rulings will be held via video conferencing under the e-advance ruling programme. Taxpayers will have a chance to be heard properly as a result of this.

Scheme for e-advance rulings Finance Ministry approval: A new e-advance ruling mechanism has been launched by the Ministry of Finance. On Wednesday, the ministry also issued a notification in this regard. According to the new rule, taxpayers will be able to submit their Advance Ruling application by email as well. This action will benefit the majority of Indians who do not live in India and are unable to travel to India for any reason.

Taxpayers will be able to issue their advance using only one email as a result of this rule. The Central Board of Direct Taxes (CBDT) has issued a notification for the ‘e-advance rulings program, 2022’ in this regard (e-advance rulings scheme, 2022).

Read More: Aadhaar Cards: PVC Aadhaar from the open market is not valid as UIDAI new guidelines; steps to follow to get a valid card

The hearing before the Board for Advance Rulings can be done via video conference or video telephony under the e-advance ruling scheme. The taxpayers will have a chance to be heard properly as a result of this. Let us explain that under the Advance Ruling Scheme, this tax act has been issued to select special taxpayers who are not residents of India for the taxability of their transactions in India. All communication between non-resident taxpayers and the Board for Advance Rulings has now been changed to electronic mode, according to this notification.

The registered email address is significant because, similar to the e-advance ruling programme, all notices and orders from the board will now be sent only to the registered email account. Following that, the taxpayer in attendance will have to submit his response via electronic communication, i.e. email alone. He’ll have plenty of time and opportunities to accomplish this.

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