On 24 September 2021, the CBDT issued a new Notification No. 117/2021, to extend the applicability of the transfer pricing safe harbor rules. The extension applies for the 2020-21 and 2021-22 assessment years. Taxpayers opting for safe harbor rules for FY 2020-21 would need to file the return of income for the year on or before the date of furnishing the prescribed Form 3CEFA for opting for the safe harbor rules. The due date for filing is 28 February 2022.
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