Income Tax Ordinance, 2001

CHAPTER-X

PROCEDURE PART XIII CIRCULARS

From: 2023-07-01 - To: 0000-00-00 1[206A. Advance ruling.- (1) The 2[Board] may, on application in writing by a non-resident taxpayer, issue to the taxpayer an advance ruling setting out the Commissioner’s position regarding the application of this Ordinance to a transaction proposed or entered into by the taxpayer. (2) Where the taxpayer has made a full and true disclosure of the nature of all aspects of the transaction relevant to the ruling and the transaction has proceeded in all material respects as described in the taxpayer’s application for the ruling, the ruling is 3[binding] on the Commissioner with respect to the application to the transaction of the law as it stood at the time the ruling was issued. (3) Where there is any inconsistency between a circular and an advance ruling, priority shall be given to the terms of the advance ruling 4[.] 5[***] _________________________________________________________________ 1-Section 206A inserted by the Finance Act, 2003 (I of 2003 assented on 16th June, 2003) 2-Substituted for the words “Central Board of Revenue” vide the Finance Act, 2007 (IV of 2007 assented on 30th June, 2007) 3-Substituted for the word “blinding” vide the Finance Act, 2005 (VII of 2005 assented on 29th June, 2005) 4-For the colon, a full stop was substituted vide the Finance Act, 2017 (XXVII of 2017) assented on 19th June, 2017. The said colon was earlier substituted in place of a full stop vide the Finance Act, 2011 (XVI of 2011 assented on 29th June, 201I) 5-Proviso was omitted vide the Finance Act, 2017 (XXVII of 2017) assented on 19th June, 2017. At the time of omission, the provision appeared as follows:- i[Provided that this section shall not apply to a non resident tax payer having a permanent establishment in Pakistan] i. Proviso was added vide the Finance Act, 2011 (XVI of 2011 assented on 29th June, 2011) From: 2017-07-01 - To: 2023-06-30 1[206A. Advance ruling.- (1) The 2[Board] may, on application in writing by a non-resident taxpayer, issue to the taxpayer an advance ruling setting out the Commissioners position regarding the application of this Ordinance to a transaction proposed or entered into by the taxpayer. (2) Where the…