Advance Rulings in India

With growing acceptance of the idea that no economy can flourish in isolation, the international trade has been the driving force of the modern world. The rise in international trade has acted as a fillip for improved international tax laws and practices. The Double Taxation Avoidance Agreements (‘DTAA’) entered between nations have acted as a catalyst in remission of problems of double taxation problems arising from cross border transactions and investment. One of the measures for improved international tax practices is formulation of Authority for Advanced Rulings (‘AAR’). In order to avoid any kind of litigation in future and its associated costs, taxpayers generally like to be sure of the tax implications of their proposed transactions.Read more

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