Applicability of Transfer price under Rule 10TD in respect of Safe Harbour extended

Applicability of Transfer price under Rule 10TD declared by the assessee in respect of Safe Harbour transaction extended to AY 2021-22

(Department of Revenue)

Notification No. 117/2021

New Delhi, the 24th September, 2021


G.S.R. 661(E).—In exercise of the powers conferred by sub-section (2) of section 92CB read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:

1. Short title and commencement. -(1) These rules may be called the Income-tax (30th Amendment) Rules, 2021.

(2) They shall be deemed to have come in to force from the 1st day of April, 2021.

2. In the Income-tax Rules, 1962, in rule 10TD, in sub-rule (3B), for the words and figures “assessment year 2020-21”, the words and figures “assessment years 2020-21 and 2021-22” shall be substituted.

[F. No. 370142/44/2021-TPL]

NEHA SAHAY, Under Secy.
(Tax Policy and Legislation)

Explanatory Memorandum:
It is hereby certified that no person is being adversely affected by giving retrospective effect to these rules

Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II,section-3, sub-section (ii) vide number S.O. 969 (E) dated the 26th March, 1962 and were last amended vide notification number GSR 627 (E) dated the 13th September, 2021.

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