On 9 August 2023, the Central Board of Direct Taxes (CBDT) issued a Notification No. 58/2023, to extend the applicability of the transfer pricing safe harbor rules. The extension applies for the financial year 2022-23 and 2023-24 assessment years. The safe harbour rules were in effect for the assessment years 2020-21, 2021-22, and 2022-23. Safe harbor rules apply to a range of activities, including IT-enabled services, software development, knowledge process outsourcing services, specific research and development services, intra-group loans, corporate guarantees, the production and export of automobile components and the receipt of low-value-adding intra-group services. This amendment is effective from 1 April 2023.
Related Posts
India increases export excise duty on diesel, aviation turbine fuel
June 22, 2026
India has increased the special additional excise duty (SAED) on exports of diesel and aviation turbine fuel (ATF) through two notifications issued by the Ministry of Finance on 15 June 2026, with the revised rates taking effect from 16 June
Read More
India: Supreme Court rules GST applies to full value of stakes in online gaming, casinos
June 10, 2026
The Indian Supreme Court has delivered a ruling on the Goods and Services Tax (GST) treatment of online gaming, fantasy sports and casino activities, holding that GST is payable on the entire value of stakes or bets placed by participants rather
Read MoreIndia expands tax exemptions for foreign investors in government securities
June 09, 2026
India has published the Income-Tax (Amendment) Commencement Ordinance 2026 in the Official Gazette on 5 June 2026, introducing a targeted set of tax reforms aimed at strengthening foreign participation in Indian Government securities markets. The
Read More
India, New Zealand sign FTA
April 28, 2026
India and New Zealand signed a free trade agreement (FTA) on Monday, 27 April 2026 in New Delhi, aiming to cut tariffs, expand market access and strengthen economic ties amid ongoing global trade tensions. The deal was signed by India’s
Read More
Denmark launches Indian Danish Chamber of Commerce in New Delhi
April 16, 2026
Denmark expanded its economic engagement with India on 8 April 2026 with the launch of the Indian Danish Chamber of Commerce (IDCC) in New Delhi, aiming to strengthen trade, investment and business linkages ahead of the anticipated ratification of
Read MoreIndia further raises windfall taxes on ATF, diesel exports amid rising global prices
April 15, 2026
India has increased windfall taxes on aviation turbine fuel (ATF) and diesel exports, following a further rise in global oil prices since the levy was first introduced on 26 March. According to notifications from the Ministry of Finance and the
Read More