Which provision of the Income-tax Act, 2025 authorises the Central Government to constitute the Board for Advance Rulings?
Question and options
Which provision of the Income-tax Act, 2025 authorises the Central Government to constitute the Board for Advance Rulings?
Section 358
Section 287
Section 263
Section 381
Answer and explanation
Correct answer: D - Section 381
Section 381 of the Income-tax Act, 2025 requires the Central Government to constitute one or more Boards for Advance Rulings, each of two members not below the rank of Chief Commissioner. Section 358 deals with the form of appeals and section 263 with returns of income.
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