Form 34F – Income Tax

Last Updated at: Oct 30, 2020
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Form 34F - Income Tax
The CBDT has recently relaxed Income Tax (IT) rule for resolving mutual agreement procedure (MAP) issues. This is for faster resolution of cases of multinational corporations that have obtained the alternative dispute resolution process.  CBDT has modified Rule 44G which deals with MAP agreement and has also revised Form 34F for making filing much more flexible.

 

Form 34F is an application provided by an assessee (who is an Indian resident). This is to give effect to the terms of a mutual agreement procedure as per the agreement with foreign countries or other territories, under the clause of subsection 2 of section 295 of the Income-tax Act 1961.

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form 34F