Tax alert: Safe Harbor Rules for FY 2023-24 notified with extension of timeline

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Tax alert: Safe Harbor Rules for FY 2023-24 notified with extension of timeline

 

5 December 2024

The CBDT has issued a notification on 29 November 2024 to roll over the safe harbour provisions to Financial Year 2023-24. The CBDT has also given an extension of 15 days for filing Form for opting safe harbour and for filing the Income tax return in Transfer Pricing cases so that relevant taxpayers can make necessary compliance. In addition, the notification also introduced safe harbour for foreign companies engaged in the business of diamond mining and sale of raw diamonds in India.

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