CA Final · Direct Tax Laws & International Taxation · Advance Rulings
Kaveri Infra Pvt Ltd, a non-resident applicant, seeks an advance ruling on the tax liability arising from a proposed transaction of Rs. 250 crore, falling under sub-clause (i) of section 380(a). Applying Rule 200 of the Income-tax Rules, 2026, what fee must accompany Form No. 120?
The fee is Rs. 5,00,000. Rule 200(2) item 1 prescribes this for a non-resident applicant under section 380(a)(i) when the transaction amount lies between Rs. 100 crore and Rs. 300 crore. A Rs. 250 crore transaction falls in that band.
- ARs. 2,00,000
- BRs. 5,00,000Correct
- CRs. 10,00,000
- DRs. 10,000
Explanation
Under item 1 of the fee table in Rule 200(2), a non-resident applicant under section 380(a)(i) with a transaction amount between Rs. 100 crore and Rs. 300 crore pays Rs. 5,00,000. Rs. 2,00,000 applies below Rs. 100 crore, and Rs. 10 lakh applies above Rs. 300 crore. Rs. 10,000 is for any other applicant.
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