S.R.O. 14(I)/2004, Islamabad, January 8, 2004

SROS: S.R.O. 14(I)/2004, Islamabad, January 8, 2004 DRAFT - APPLICATION FOR ADVANCE RULING UNDER SECTION 206A OF THE INCOME TAX ORDINANCE, 2001 S. R. O. 14(I)/2004, Islamabad, January 8, 2004:- The following draft of certain amendments in the Income Tax Rules, 2002, which the Central Board of Revenue proposes to make in the Income Tax Rules, 2002 in exercise of the powers conferred by section 237 of the Income Tax Ordinance, 2001(XLIV of 2001), are hereby published, for the information of all persons likely to be affected thereby, and notice is hereby given that the draft will be taken into consideration after fifteen days of its publication in the official Gazette. Any objection or suggestion which may be received from any person, in respect of the said draft amendments before the expiry of the aforesaid period, shall be considered by the Central Board of Revenue. DRAFT AMENDMENTS In the aforesaid Rules, after rule 231, the following shall be inserted, namely:- 231A. Procedure for issuance of advance ruling under section 206A. -(1) A non-resident person desiring an advance ruling under section 206A of the Ordinance, 2001(XLIV of 2001) shall make an application to the Central Board of Revenue in the following form set out in the Schedule below. (2) The application under sub-rule(1) shall be considered by a Committee consisting of the following members, namely:- (a) Chairman, Central Board of Revenue - Chairman (b) Member(Direct Taxes) - Member (c) Additional Secretary, Law, Justice - Member and Human Rights Division. (3) The Committee may obtain comments of the Commissioner of Income Tax concerned and, if it considers necessary, advice of a legal expert on the application and decide the issue, as it may deem appropriate, in a joint sitting or through circulation amongst its members. (4) Advance ruling for the purposes of this rule means determination by the Committee in relation to the transaction which has been undertaken or is proposed to be undertaken by a non-resident person the question of law specified in the application. (5) The advance ruling shall be binding on the Commissioner only in respect of the specific transaction on which such advance ruling is…