Home Income tax Individual Income Tax CBDT extends applicability of Switch Value Secure Harbour Guidelines until AY 2023-24

CBDT extends applicability of Switch Value Secure Harbour Guidelines until AY 2023-24

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CBDT extends applicability of Switch Value Secure Harbour Guidelines until AY 2023-24

CBDT extends applicability of Switch Value Secure Harbour Guidelines until AY 2023-24

The Central Board of Direct Taxes(CBDT) has prolonged the applicability of Switch Value Secure Harbour Guidelines until AY 2023-24 through issuing Notification.

The Notification Said, “In train of the powers conferred by part 295 learn with sub-section (2) of part 92CB of the Earnings-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the next guidelines additional to amend the Earnings-tax Guidelines, 1962.”

These guidelines could also be referred to as the Earnings-tax (Fifteenth Modification) Guidelines, 2023. They shall deemed to have come into drive from the first day of April 2023.

Within the Earnings-tax Guidelines, 1962, in rule 10TD, in sub-rule (3B), for the phrases and figures “evaluation years 2020-21, 2021-22 and 2022-23”, the phrases and figures “evaluation years 2020-21, 2021-22, 2022-23 and 2023-24” shall be substituted.

Rule 10TD direct the listing of eligible worldwide transactions the place the switch value declared by the assessee shall be required to be accepted by the Earnings Tax Authorities.

For Official Notification Obtain PDF Given Under:

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