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Jun 4, 2020 · Safe Harbour Rules (SHR), introduced by the Central Board of Direct Taxes (CBDT) in the year 2009, provides for circumstances in which a certain category of taxpayers can follow a simple set of rules under which transfer prices are automatically accepted by the revenue authorities.
Aug 9, 2023 · Read how CBDT's Notification No. 58/2023 amends Income-tax Rules, extending Safe Harbour rules to AY 2023-24. Insights from Ministry of Finance, New Delhi.
Apr 10, 2022 · benefits of safe harbor rules in india- to the taxpayers and revenue authorities: 1. Advance information or knowledge about the range of profits or prices to qualify for SHR.
However, the safe harbour programme received a tepid response from taxpayers in India, due to perceived high margins and ambiguity in the classification of services. The CBDT has now, vide a notification2 dated 7 June 2017, revised the existing safe harbour rules in India.
Background: The Central Board of Direct Taxes (CBDT) issued a gazette notification on 20 May 2020, to specify the safe harbour rates applicable for FY 2019-20, for determining arm’s length rates for certain specified international transactions.
Jul 30, 2023 · The Indian Safe harbour rules are an optional dispute avoidance mechanism that prescribe the minimum cost plus mark – up / transfer price that an eligible tax payer has to maintain in relation to eligible categories of international transactions for a specified block of financial years (FYs).
Revised Safe Harbour – A comparison. In a highly anticipated and welcome move, on 7th June 2017, Central Board of Direct Taxes (“CBDT”) introduced a revised set of safe harbour rules which shall be applicable for FY 2016-17 to FY 2018-19. A comparison of the erstwhile and revised safe harbours is as follows:
A “safe harbor” is defined in the Indian Income Tax Law (ITL) as circumstances under which the tax authorities will accept the transfer price declared by the taxpayer.
Tax alert: Safe Harbour rules amended to streamline intra group financing arrangements with global standards. 21 December 2023 . Unveiling India's latest Safe Harbour amendments: Revised intra-group loan rules and new interest rate benchmarks. In a nutshell. Revised intra group Loan. Interest Rate Reform: Credit Rating Clarification: Definitions:
Central Board of Direct Taxes (CBDT) vide a Notification No. 66/2022 dated 17.06.2022 has introduced the Income-tax (18th Amendment) Rules, 2022. With this amendment, CBDT has extended the validity of safe harbor provisions for transfer pricing (TP) issues of Rule 10TD till Assessment Year 2022-23. In this article we will look at the Safe ...
