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CA Final · Direct Tax Laws & International Taxation · Advance Rulings

Shreyas Ltd has to sign and furnish its Form No. 120 application under Rule 200. Shreyas is a person required to furnish a return of income, and its return must be furnished under digital signature. Who signs, and how is the application furnished?

The application must be signed by the person authorised to verify the return under section 265 and furnished electronically under digital signature. Because the applicant's return must be filed under digital signature, the electronic verification code route is unavailable, and the power of attorney route applies only to non-filers.

  1. AAny person holding a power of attorney, using an electronic verification code
  2. BThe person authorised to verify the return under section 265, furnished electronically under digital signatureCorrect
  3. CThe Commissioner having jurisdiction, in physical form
  4. DThe person authorised to verify the return under section 265, through an electronic verification code

Explanation

Rule 200(3)(a) says that where the applicant is required to furnish a return, the application is signed by the person authorised to verify the return under section 265. It is furnished electronically under digital signature if the return requires digital signature. The electronic verification code applies only in other cases, and the power of attorney route is for applicants not required to file returns.

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