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The Central Bureau of Direct Taxes released a notification numbered 66/2022 on 17.06.2022 in 458(E) of General Statutory Rules (G.S.R) via the 18th amendment of Income-tax rules, 2022. According to this notification, the CBDT has extended the validity of safe harbour provisions for transfer pricing issues of Rule 10TD upto the Assessment Year 2022-23. Rule 10 TD specifies various eligible international transactions in which the Income Tax authorities must accept the transfer price as stated by the assessee.
Rule 10TD (1) and Rule10TD (2A) mention a few specific eligible international transactions in which the taxpayer can declare a certain transfer price at an arm’s length, and in such cases, the income tax authorities have to accept it.
Applicability of safe harbour rules 10TD Extended till AY 2022-23: CBDT
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