The Central Board of Direct Taxes has issued the Income-tax (Fifteenth Amendment) Rules, 2023. The amendment provides that where an eligible assessee has entered into an eligible international transaction and the option for safe harbor is exercised, the transfer price declared by the assessee in respect of such transaction shall be accepted by the income-tax authorities. This shall be applicable till end of assessment year 2022-2023.
They shall deemed to have come into force from the 1st day of April 2023.
