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The Central Government specifies a resident applicant class for the purposes of Chapter XIX-B of the Income-tax Act, 1961. This specification applies to a resident who has a tax liability arising from one or more transactions valuing rupees one hundred crore or more in total, which the resident undertakes or proposes to undertake. The notification takes effect on the date of its publication in the Official Gazette.
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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES]
NOTIFICATION
Income-tax
New Delhi, the 28th day of November, 2014
S.O.3014 (E).- In exercise of the powers conferred by sub-clause (iia) of clause (b) of section 245N of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies a resident, in relation to his tax liability arising out of one or more transactions valuing rupees one hundred crore or more in total which has been undertaken or proposed to be undertaken, being such class of persons, as applicant for the purposes of Chapter XIX-B of the said Act.
[Notification No.73/2014/ F. No. 142/6/2014-TPL]
(Gaurav Kanaujia) Director to the Government of India
