CA Final · Direct Tax Laws & International Taxation · Advance Rulings
Kaveri Infra Pvt Ltd, a resident company, proposes a transaction of Rs. 150 crore and wants an advance ruling on the tax liability arising from it under section 380(a)(iii). It files Form No. 120 under Rule 200 of the Income-tax Rules, 2026. What fee is payable with the application?
The fee is Rs. 5,00,000. A resident applicant seeking a ruling under section 380(a)(iii) pays this when the transaction amount lies between Rs. 100 crore and Rs. 300 crore. The Rs. 10 lakh fee applies only above Rs. 300 crore.
- ARs. 2,00,000
- BRs. 5,00,000Correct
- CRs. 10,00,000
- DRs. 10,000
Explanation
Item 2 of the fee table covers a resident applicant seeking a ruling under section 380(a)(iii). For a transaction amount between Rs. 100 crore and Rs. 300 crore the fee is Rs. 5,00,000. Rs. 10 lakh applies only above Rs. 300 crore, so that option is wrong.
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