The following persons can apply for an advance ruling:
» A non-resident setting up a joint venture in India in collaboration with a non-resident or a resident;
» A resident setting up a joint venture in India in collaboration with a non-resident; or
» A wholly-owned subsidiary Indian company with a foreign holding company or a foreign company that proposes to undertake any business activity in India; or
» A joint venture in India, that is to say, a contractual arrangement whereby two or more persons undertake an economic activity which is subject to joint control and one or more of the participants or partners or equity holders is non-resident having substantial interest in such arrangement; or
» A resident falling within any such class or category of persons as the Central Government may by notification in the Official Gazette specify in this behalf. The Central Government has specified the following categories of persons as being eligible to seek advance rulings.