CBDT notifies Income Tax (9th Amendment) Rules, 2020: Safe Harbour Rules Extended [Read Notification]
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The Central Board of Direct Taxes (CBDT) has notified Safe Harbour Rules as Rule 10TD, which shall apply for Assessment Year 2020-21. The Rule came into existence through the Income-tax (9th Amendment) Rules, 2020. The Board empowered under Section 295 read with Section 92CB (2) of the Income-tax Act, 1961, amended the Income-tax Rules, 1962 and the amendment came to be known as the...
The Central Board of Direct Taxes (CBDT) has notified Safe Harbour Rules as Rule 10TD, which shall apply for Assessment Year 2020-21. The Rule came into existence through the Income-tax (9th Amendment) Rules, 2020.
The Board empowered under Section 295 read with Section 92CB (2) of the Income-tax Act, 1961, amended the Income-tax Rules, 1962 and the amendment came to be known as the Income-tax (9th Amendment) Rules, 2020.
“The provisions of sub-rules (1) and (2A) shall apply for the assessment year 2020-21,” is inserted in rule 10TD, after sub-rule (3A).
“In Rule 10TE, in sub-rule (2), after the third proviso, “Provided also that nothing contained in this sub-rule shall apply to the option for safe harbor validly exercised under sub-rule (3B) of rule 10TD” proviso shall be inserted.
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